Document:

EX-10.8

 Exhibit 10.8 

Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful
if publicly disclosed. 
  
  

LICENSE AGREEMENT 
 between

 AYALA PHARMACEUTICALS, INC. 

and 
 BRISTOL-MYERS SQUIBB
COMPANY 
  
  

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

LICENSE AGREEMENT 
 THIS LICENSE AGREEMENT
(this “Agreement”) is made and entered into as of the date last signed by a party below (the “Effective Date”), by and between Bristol-Myers Squibb Company, a Delaware corporation, headquartered at 345 Park
Avenue, New York, New York 10154 (“BMS”), and Ayala Pharmaceuticals, Inc., a Delaware corporation, with its principal offices at c/o PHS Corporate Services 1313 N. Market Street, Suite 5100, Wilmington, DE 19801
(“Company”). BMS and Company are sometimes referred to herein individually as a “Party” and collectively as the “Parties.” 

RECITALS 
 WHEREAS, BMS
and its Affiliates Control (as defined below) certain intellectual property rights with respect to the Licensed Compounds (as defined below); and 

WHEREAS, Company desires to obtain from BMS the licenses set forth herein, and BMS desires to grant such licenses to Company, all on the terms
and conditions set forth in this Agreement; 
 NOW, THEREFORE in consideration of the foregoing and the mutual agreements set forth below,
the Parties agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 The terms in
this Agreement with initial letters capitalized, whether used in the singular or the plural, shall have the meaning set forth below or, if not listed below, the meaning designated in places throughout this Agreement. 

1.1 “Act” means the United States Food, Drug and Cosmetic Act, as amended. 

1.2 “Affiliate” of a Person means any other Person which (directly or indirectly) is controlled by, controls or is under
common control with such Person. For the purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”) as used with respect to a
Person, shall mean the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of such Person, whether through the ownership of voting securities, by contract or otherwise, and
“control” shall be presumed to exist if either of the following conditions is met: (i) in the case of a corporate entity, direct or indirect ownership of voting securities entitled to cast at least fifty percent (50%) of the votes in
the election of directors or (ii) in the case of a non-corporate entity, direct or indirect ownership of at least fifty percent (50%) of the equity interests with the power to direct the management and
policies of such entity. 
 1.3 “Approval” means, with respect to any Licensed Product in any regulatory jurisdiction,
approval from the applicable Regulatory Authority sufficient for the manufacture, distribution, use, marketing, and sale of the Licensed Product in such jurisdiction in accordance with applicable Laws; provided, however that for
purposes of the U.S., Approval means NDA Approval, for purposes of the EU, Approval means MAA Approval and for purposes of Japan, Approval means PMDA Approval. 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 1.4
“BMS Know-How” means Know-How that, as of the Effective Date, is Controlled by BMS and directly relates to and is reasonably necessary for,
Company’s Development and Commercialization of the Licensed Compounds and/or Licensed Products in the Field. 
 1.5 “BMS Patent
Rights” means (a) the patents and patent applications listed in Appendix 1, (b) all divisionals, continuations, continuations-in-part (excluding
claims in continuations-in-part that necessarily rely on new matter invented by BMS after the Effective Date) thereof or any other patent application claiming priority
directly or indirectly to (i) any of the patents or patent applications in subsection (a), or (ii) any patent or patent application from which the patents or patent applications in (a) claim direct or indirect priority, (c) all
patents issuing on any of the foregoing in (a) and (b), (d) all foreign counterparts of any of the foregoing in (a) through (c), including any patent applications filed under the Patent Cooperation Treaty (“PCT Applications”),
and (e) all registrations, reissues, re-examinations, supplemental protection certificates, or extensions of any of the foregoing in (a) through (d). BMS Patent Rights shall also include any
claims in any patents or patent applications existing as of the Effective Date that are Controlled by BMS and cover the composition of matter of any intermediate or starting material reasonably necessary in or reasonably useful for the manufacture
of any Licensed Compound as manufactured by BMS as of the Effective Date. BMS Patent Rights do not include any claims covering the composition of matter of any compound other than (i) a Licensed Compound or (ii) an intermediate or starting
material reasonably necessary in or reasonably useful for the manufacture of any Licensed Compound as manufactured by BMS as of the Effective Date. 

1.6 “Business Day” or “business day” means a day other than Saturday, Sunday or any day on which commercial
banks located in New York, New York or Tel Aviv, Israel are authorized or obligated by Law to close. 
 1.7 “Calendar
Quarter” means the respective periods of three consecutive calendar months ending on March 31, June 30, September 30 and December 31. 

1.8 “Calendar Year” means each one-year period commencing on January 1 and
ending on December 31. 
 1.9 “cGMP” means as to the United States and the European Union, applicable good manufacturing
practices as in effect in the United States and the European Union, respectively, during the term of this Agreement and, with respect to any other jurisdiction, manufacturing practices equivalent to good manufacturing practices as then in effect in
the United States or the European Union. 
 1.10 “Clinical Trial” means any human clinical study of a pharmaceutical
product. 
 1.11 “Combination Product” means a Licensed Product that includes at least one additional active ingredient
other than the Licensed Compound. Drug delivery vehicles, adjuvants, and excipients shall not be deemed to be “active ingredients”, except in the case where such delivery vehicle, adjuvant, or excipient is recognized by the FDA as an
active ingredient in accordance with 21 CFR 210.3(b)(7). 

  
 2 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 1.12
“Commercialization” or “Commercialize” means activities directed to commercially manufacturing, obtaining pricing and reimbursement approvals and regulatory activities pertaining to same, marketing, promoting,
distributing, importing or selling a Licensed Product. 
 1.13 “Commercially Reasonable Efforts” means[***]. 

1.14 “Competitive Compound” means any molecule that is not a Licensed Compound and is a Notch Inhibitor as its primary
mechanism of action. 
 1.15 “Conditional MAA Approval” means any conditional MAA Approval granted by the EMA for a
Licensed Product pursuant to Regulation (EC) No 726/2004 and Regulation (EC) No 507/2006, and each annual renewal thereof. 
 1.16
“Confidential Information” means all trade secrets, processes, formulae, data, Know-How, improvements, inventions, chemical or biological materials, techniques, marketing plans, strategies,
customer lists, or other information (including all information and materials of a Party’s customers and any other Third Party and their consultants) that has been disclosed by a Party to the other Party, regardless of whether any of the
foregoing are marked “confidential” or “proprietary” or communicated to the other by the disclosing Party in oral, written, graphic, or electronic form. “Confidential Information” of BMS shall include the BMS Know-How. 
 1.17 “Confirmed POC Clinical Trial” means a completed POC Clinical Trial
that has met both its safety and primary efficacy endpoints. 
 1.18 “Controlled” or “Controls”, when used
in reference to intellectual property, shall mean the legal authority or right of a Party (or any of its Affiliates) to grant a license or sublicense of intellectual property rights to the other Party or any Third Party, or to otherwise disclose
proprietary or trade secret information to such other Party or to any Third Party, without breaching the terms of any agreement with any Third Party. 

1.19 “Designated Approval” means NDA Approval, MAA Approval in any of France, Germany, Italy, Spain or the United Kingdom, or
PMDA Approval in Japan. 
 1.20 “Development” means non-clinical and clinical drug
development activities reasonably related to the development and submission of information to a Regulatory Authority, including toxicology, pharmacology and other discovery and pre-clinical efforts, test
method development and stability testing, process development, formulation development, development manufacturing, delivery system development, quality assurance and quality control development, clinical studies (including pre- and post-Approval studies but specifically excluding regulatory activities directed to obtaining pricing and reimbursement approvals), statistical analysis, and
post-marketing commitments/requirements. When used as a verb, “Develop” means to engage in Development. 

  
 3 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 1.21
“Development Plan” means, with respect to a Licensed Product, a plan prepared by Company for the then current Calendar Year and [***] setting forth a summary of the Development activities to be conducted for such Licensed
Product, including the indications expected to be targeted, a good faith estimate of reasonable timelines for completing key Development activities and filing of key regulatory submissions (including estimated timelines for commencement of each
stage of clinical Development), and including, where known, the primary endpoints and any comparator or any agents used in combination with a Licensed Compound or Licensed Product for any such studies and any go-no-go decision criteria for any such studies. The initial Development Plan as of the Effective Date is attached hereto as Appendix 2, and may be amended by the Company from time
to time at the Company’s sole discretion. A copy of the study protocol for a given study will be provided to BMS if available and if requested by BMS. 

1.22 “Distributor” means, with respect to a country, any Third Party that is used by pharmaceutical manufacturers generally
in such country on a non-exclusive basis, and without any intellectual property right or license grant from the pharmaceutical manufacturers, to distribute (but not to market or promote) finished, packaged
pharmaceutical products to pharmacies, managed care organizations, governmental agencies (e.g., federal, state and local), and other group purchasing organizations (e.g., pharmaceutical benefits managers) and the like in such country.
For clarity, a Distributor of a Licensed Product in a country shall not include any person or entity that has been granted a right, whether by license or otherwise and whether express or implied (including by subcontract or agency), by a Party or
its Affiliates to research, Develop or manufacture any such Licensed Product or that otherwise assumes any regulatory or other responsibilities with respect to obtaining or maintaining regulatory approvals for such Licensed Product in such country.

 1.23 “Dollar” or “$” means the lawful currency of the United States. 

1.24 “EMA” means the European Medicines Agency, or any successor agency thereto. 

1.25 “EU” means the member states of the European Union as of the Effective Date (including for the avoidance of doubt, the
United Kingdom), and such other countries as may become part of the European Union after the Effective Date. For clarity, to the extent the United Kingdom and/or any other member state of the European Union would not anymore be a member of the
European Union after the Effective Date, it shall still be included in this definition of EU for the purposes of this Agreement. 
 1.26
“FDA” means the U.S. Food and Drug Administration, or any successor agency thereto. 
 1.27 “Field” means
all uses including the prevention, treatment or control of any human or animal disease, disorder or condition. 
 1.28 “First
Commercial Sale” means, with respect to any Licensed Product in a country in the Territory, the first sale for use or consumption by the general public of such Licensed Product in such country after Approval of such Licensed Product in such
country has been granted, or such marketing and sale is otherwise permitted, by the Regulatory Authority of such country. 

  
 4 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 1.29
“GAAP” means, for entities incorporated or organized in the U.S., generally accepted accounting principles, consistently applied, and for entities incorporated or organized outside the United States, either U.S. generally applicable
accounting principles or International Financial Reporting Standards, as consistently used and applied by such entity for its other products. 

1.30 “Generic Products” means with respect to a particular Licensed Product in a country, a pharmaceutical product that
(a) contains the same or substantially the same active ingredient(s) as such Licensed Product, (b) is approved for use in such country by the applicable Regulatory Authority, whether approved under an NDA, ANDA, an application under
505(b)(2), or any equivalent thereof, or otherwise by a Regulatory Authority and (c) is sold in the same country as such Licensed Product by any Third Party that is not a Sublicensee of Company or its Affiliates and did not purchase such
product in a chain of distribution that included any of Company or any of its Affiliates or its Sublicensees. 
 1.31 “Governmental
Authority” means any multi-national, national, federal, state, local, municipal, provincial, county, or other political subdivision, agency or other body, domestic or foreign or other government authority of any nature (including any
governmental division, subdivision, department, agency, bureau, branch, office, commission, council, court, tribunal or other entity). 

1.32 “IND” means an Investigational New Drug Application, as defined in the Act, filed with the FDA or its foreign
counterparts, including as applicable clinical trial applications (CTAs), clinical trial exemptions (CTXs), and investigational medicinal product dossiers. 

1.33 “Initiation” means, when used with respect to a Clinical Trial, the dosing of the first patient with the first dose in
such Clinical Trial. 
 1.34 “Know-How” means tangible and intangible information,
techniques, technology, practices, inventions (whether patentable or not), methods, knowledge, know-how, trade secrets, data and results (including all biological, chemical, pharmacological, toxicological,
clinical, analytical and quality control data and methods (including any applicable reference standards), manufacturing assay and related data, data and results relating to drug substance, drug product, starting materials, and radiolabeled
compounds, know-how and trade secrets), but excluding any Patent Rights. 
 1.35
“Knowledge” means, with respect to a Party or its Affiliates, the actual knowledge of its [***] without any duty to conduct any additional investigations with respect to such facts and information. 

1.36 “Laws” means all applicable laws, statutes, rules, regulations and other pronouncements having the effect of law of any
Governmental Authority that may be in effect from time to time, including for clarity any applicable rules, regulations and other requirements of any Regulatory Authority that may be in effect from time to time. 

1.37 “Licensed Compounds” means the proprietary BMS compounds known as BMS-906024 and
BMS-986115 and further described on Appendix 3, and any salt, free acid/base, solvate, hydrate, stereoisomer and polymorphic form thereof, and any prodrug, conjugate or complex thereof. 

  
 5 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 1.38
“Licensed Product” means any pharmaceutical product containing a Licensed Compound (alone or with other active ingredients controlled by the Company), in all forms, presentations, formulations and dosage forms. 

1.39 “MAA” means a marketing authorization application filed for Approval in the EU of the applicable Licensed Product. 

1.40 “MAA Approval” means Approval by the EMA of a MAA filed with the EMA for the applicable Licensed Product under the
centralized European procedure. If the centralized EMA filing procedure is not used, MAA Approval shall be achieved upon [***]. 

1.41 “MAA Filing” means the validation by the EMA of the filing of an MAA for the applicable Licensed Product. If the
centralized EMA filing procedure is not used, MAA Filing shall be achieved upon [***]. 
 1.42 “Major Market
Countries” means the following countries: [***]. “Major Market Country” means any one of these countries. 

1.43 “NDA” means a new drug application filed with the FDA required for marketing approval for the applicable Licensed
Product in the U.S. 
 1.44 “NDA Approval” means the final approval of an NDA for a given indication by the FDA for the
applicable Licensed Product in the U.S.; provided, that, for milestone payment purposes, NDA Approval shall in any event be deemed achieved upon First Commercial Sale in the U.S. for such Indication. 

1.45 “NDA Filing” means the acceptance by the FDA of the filing of an NDA for the applicable Licensed Product. 

1.46 “Net Sales” means, with respect to any Licensed Product, the gross amount of monies billed in arm’s-length transactions by a Party, an Affiliate of such Party, or any permitted Sublicensee (or such Sublicensee’s Affiliates) (all of the foregoing persons and entities, for purposes of this definition
and Sections 8.4, 8.6, and 8.7), shall be considered a “Related Party”) for sales of such Licensed Product to a Third Party, less the sum of the following (to the extent separately stated on the invoice, actually paid or credited by
Company and its Affiliates and Sublicensees in effecting such sale and not reimbursed by any Third Party): 
 (a) discounts (including cash
discounts and quantity discounts), cash and non-cash coupons, retroactive price reductions, charge-back payments and rebates granted to managed care organizations or to federal, state and local governments,
their agencies, and purchasers and reimbursers or to customers; 
 (b) credits or allowances actually granted upon claims, damaged goods,
rejections or returns of such Product, including Product returned in connection with recalls or withdrawals; 

  
 6 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 (c)
freight, postage, shipping, outbound transportation, and insurance charges, but only to the extent separately invoiced in a manner that clearly specifies the charges applicable to the applicable Licensed Products; and 

(d) taxes or duties levied on, absorbed or otherwise imposed on sale of the Licensed Product, including import, export, excise and sales
taxes, customs duties, value-added taxes, healthcare taxes or other governmental charges otherwise imposed upon the billed amount (to the extent not paid by the Third Party), as adjusted for rebates and refunds, in each case as accounted for by the
Related Party recording such Net Sales. 
 No deduction shall be made for any item of cost incurred by any Related Party in Developing or
Commercializing Licensed Products except as permitted pursuant to clauses (a) to (d) of the foregoing sentence; provided that, Licensed Products transferred to Third Parties in connection with clinical and
non-clinical research and trials, Licensed Product samples, compassionate sales or use, or an indigent program or for similar bona fide business purposes in accordance with applicable local laws and
regulations in which a Related Party agrees to forego a normal profit margin for good faith business purposes shall give rise to Net Sales only to the extent that any Related Party invoices or receives amounts therefor exceeding the cost of goods.

 Such amounts shall be determined consistent with a Related Party’s customary practices and in accordance with GAAP. 

It is understood that any accruals for individual items reflected in Net Sales are periodically (at least quarterly) trued up and adjusted by
each Related Party consistent with its customary practices and in accordance with GAAP. 
 Sale or transfer of Licensed Products between any
of the Related Parties shall not result in any Net Sales, with Net Sales to be based only on any subsequent sales or dispositions to a non-Related Party. To the extent that any Related Party receives
consideration other than or in addition to cash upon the sale or disposition of a Licensed Product to a non-Related Party, Net Sales shall be calculated based on the average price charged for such Licensed
Product, as applicable, during the preceding royalty period, or in the absence of such sales, based on the fair market value of the Licensed Products, as determined by the Parties in good faith. For clarity, (i) Net Sales shall not include
amounts or other consideration received by a Related Party from a non-Related Party in consideration of the grant of a (sub)license or co-promotion or distribution right
to such non-Related Party, provided that such consideration is not in lieu of all or a portion of the transfer price of the Licensed Product, (ii) sales to a Third Party Distributor, wholesaler,
group purchasing organization, pharmacy benefit manager, or retail chain customer shall be considered sales to a non-Related Party and not to a Sublicensee, (iii) Net Sales by a Related Party to a non-Related Party consignee are not recognized as Net Sales by such Related Party until the non-Related Party consignee sells the Licensed Product and (iv) if a Related
Party receives in-kind consideration for the sale of the Licensed Product, then Net Sales shall be calculated as the fair market value of the Licensed Product, as determined by the Parties in good faith. 

  
 7 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 In
the case of any Combination Product sold in the Territory, Net Sales for such Combination Product shall be calculated by multiplying actual Net Sales of such Combination Product by the fraction A/(A+B) where A is the invoice price of the Licensed
Product if sold separately, and B is the total invoice price of the other active ingredient or ingredients in the Combination Product, if sold separately. If, on a
country-by-country basis, the other active ingredient or ingredients in the Combination Product are not sold separately in said country, Net Sales for the purpose of
determining royalties of the Combination Product shall be calculated by multiplying actual Net Sales of the Combination Product by the fraction C/D, where C is the invoice price of the Licensed Product if sold separately, and D is the invoice price
of the Combination Product. If neither the Licensed Product nor the other active ingredient(s) are sold separately in a given country, the Parties shall determine Net Sales in accordance with the formulas provided above in this paragraph
[***] where such Licensed Product or other active ingredient(s) are sold separately, or, if neither the Licensed Product nor the other active ingredient(s) are sold in any other countries, the Parties shall negotiate in good faith a
reasonable adjustment to Net Sales in such country that takes into account [***]. 
 Should Company, its Affiliates or Sublicensees
enter into a Third Party agreement for the purchase of a Licensed Product that provides discounts or rebates on such Licensed Product that are conditioned on pricing terms or conditions for purchase of another product or products owned or Controlled
by Company, its Affiliates or Sublicensees, as the case may be, then the discount or rebate on such Licensed Product under such agreement shall be determined, for purposes of determining Net Sales under this Agreement for a given accounting period,
based on [***]. 
 1.47 “Notch Inhibitor” means any molecule that acts through binding and inhibiting, one or more
of Notch1, Notch2, Notch3, and/or Notch4 receptors. 
 1.48 “Patent Rights” means (a) patents and patent applications,
(b) all divisionals, continuations, continuations-in-part thereof or any other patent application claiming priority directly or indirectly to (i) any of the
patents or patent applications in subsection (a), or (ii) any patent or patent application from which the patents or patent applications in (a) claim direct or indirect priority, (c) all patents issuing on any of the foregoing in
(a)-(b), (d) all foreign counterparts of any of the foregoing in (a)-(c), including PCT Applications, and (e) all registrations, reissues, re-examinations, supplemental protection certificates, or
extensions of any of the foregoing in (a)-(d). 
 1.49 “Person” means any individual, firm, corporation, partnership,
limited liability company, trust, business trust, joint venture, governmental authority, association or other entity. 
 1.50 “Phase
II Trial” means a Clinical Trial of a Licensed Product on a sufficient number of subjects that is designed to explore a variety of doses, dose response, and duration of effect, and to generate initial evidence of clinical safety and
activity in a target patient population, as described in 21 C.F.R. 312.21(b), or a similar clinical study prescribed by a Regulatory Authority outside the U.S. 

1.51 “Phase III Trial” means a Clinical Trial of a Licensed Product on a sufficient number of subjects that is designed to
establish that a pharmaceutical product is safe and efficacious for its intended use, and to determine warnings, precautions, and adverse reactions that are associated with such pharmaceutical product in the dosage range and dose duration to be
prescribed, which trial is intended to support Approval of a Licensed Product, as described in 21 C.F.R. 312.21(c), or a similar clinical study prescribed by a Regulatory Authority outside the U.S. 

  
 8 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 1.52
“PMDA” means the Japanese Pharmaceutical and Medical Device Agency or its successor, or Ministry of Health, Labour and Welfare. 

1.53 “PMDA Approval” means Approval by the PMDA of a MAA filed with the PMDA for the applicable Licensed Product in Japan;
provided, that, for milestone payment purposes, PMDA Approval shall in any event be deemed achieved upon First Commercial Sale in Japan for such Indication. 

1.54 “PMDA Filing” means the acceptance by the PMDA of the filing of an MAA for the applicable Licensed Product in Japan.

 1.55 “POC Clinical Trial” means a Clinical Trial intended as a registration trial that will form the basis for obtaining
Approval, whether or not such Clinical Trial is designated as a Phase III Trial. 
 1.56 “Regulatory Authority” means any
Governmental Authority, including the FDA, PMDA or EMA, that has responsibility in countries in the Territory over the Development and/or Commercialization of the Licensed Compounds and/or Licensed Products. 

1.57 “Sublicense Revenues” means all consideration Company and/or its Affiliates receives from a Sublicensee pursuant to any
Sublicense, including any upfront payment, milestone payments and royalty payments, collaboration fee, and premiums on equity investments in Company (with the premium to be reasonably allocated to the value of the Licensed Compound and Licensed
Product as compared the Company’s compounds and products (if any)), but excluding, for clarity, any amounts received by Company: (a) as bona fide, fair market value, actual reimbursement for research, Development or Commercialization
activities performed or paid for by Company after the grant of a License, and only to the extent they are documented and are reasonably detailed in a written report provided to BMS; (b) for reimbursement of Company’s fully-burdened cost to
manufacture and supply Licensed Products or Licensed Compounds; (c) in the form of bona fide loans made by Sublicensee to Company not forgiven by Sublicensee; (d) payment or reimbursement of reasonable patent expenses actually incurred or
paid by Company and not otherwise reimbursed; or (e) payments to Company for the purchase of equity in Company at the fair market value of such equity. For clarity, in the event a Sublicense by Company includes both a grant of rights under any
of the rights licensed to Company by BMS under Section 2.1 with respect to any Licensed Product or Licensed Compound and a grant of rights to Patent Rights Controlled by Company other than such rights licensed to Company by BMS under
Section 2.1 (“Other Sublicensed IP”), the Parties shall negotiate in good faith a reasonable adjustment to the applicable Sublicense Revenue that takes into account the relative value of the Other Sublicensed IP; provided
that if the Parties cannot agree on such adjustment then the Parties shall select an independent appraiser to determine such adjustment. 

1.58 “Sublicense” means a grant of rights by Company to a Sublicensee under any of the rights licensed to Company by BMS
under Section 2.1 with respect to the Development, manufacture, or Commercialization of any Licensed Product or Licensed Compound. For clarity, a Distributor is not considered a Sublicensee. 

  
 9 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 1.59
“Sublicense Agreement” means a written, definitive agreement for a Sublicense. 
 1.60 “Sublicensee” means
any Third Party to whom rights are granted under any of the rights licensed to Company by BMS under Section 2.1 with respect to any Licensed Product or Licensed Compound, including through any license, sublicense,
co-development, co-discovery, co-promotion, distribution, joint venture, Development and Commercialization collaboration or
similar transaction between Company (or an Affiliate of Company) and a Third Party. 
 1.61 “Territory” means worldwide.

 1.62 “Third Party” means any Person other than Company, BMS, and their Sublicensees, and any Affiliates of Company, BMS
and their Sublicensees. 
 1.63 “United States” or “U.S.” means the United States of America including
Puerto Rico and any U.S. territories and possessions. 
 1.64 “Valid Claim” means a claim of (i) an issued and
unexpired patent or a supplementary protection certificate, which claim has not been held invalid or unenforceable by a court or other government agency of competent jurisdiction from which no appeal can be or has been taken and has not been held or
admitted to be invalid or unenforceable through re-examination or disclaimer, opposition procedure, nullity suit or otherwise, or (ii) a pending patent application that has not been finally abandoned,
finally rejected or expired; provided, however, that if a claim of a pending patent application shall not have issued within [***] years ([***]) after the earliest filing date from which such claim takes priority, such
claim shall not constitute a Valid Claim for the purposes of this Agreement unless and until a patent issues with such claim. 
 Additional
Definitions. In addition to those terms defined above, definitions for each of the following terms are found in the body of this Agreement as indicated below: 
  

			
	 Defined Term
	  	 Section

	BMS	  	Preamble
	BMS Reversion Products	  	13.4.1
	Company	  	Preamble
	Effective Date	  	Preamble
	Force Majeure	  	15.3
	Indemnification Claim	  	12.3
	Indemnitee	  	12.3
	Indemnitor	  	12.3
	Indication	  	8.2.1(v)

  
 10 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

			
	 Inventory Disposal Period
	  	13.4.6
	 Joint Invention
	  	10.1
	 Joint Patent Rights
	  	10.1
	 Know-How Transfer Period
	  	3.1.1
	 Liability Cap
	  	9.5
	 Losses and Claims
	  	12.1
	 “Party” or “Parties”
	  	Preamble
	 PCT Application
	  	1.5
	 Pharmacovigilance Agreement
	  	3.5
	 Related Party
	  	1.46
	 Reversion cGMP Clinical Materials
	  	13.4.5
	 Reversion cGMP Commercial Materials
	  	13.4.6
	 Royalty Term
	  	8.4.2
	 Safety Reasons
	  	13.3.4
	 Surviving Sublicensee
	  	2.2.1(g)
	 TA Period
	  	3.2
	 Third Party Compensation
	  	8.4.4(a)
	 Title 11
	  	13.9
	 Transferred Materials
	  	4.1
	 Triggering Event
	  	5.6.2

 ARTICLE 2 

LICENSE GRANT 
 2.1 BMS
Patent Rights and BMS Know-How. Subject to all the terms and conditions set forth in this Agreement, BMS hereby grants to Company a non-transferable (except in
accordance with Section 15.4), exclusive license, with the right to grant Sublicenses in accordance with Section 2.2, under the BMS Patent Rights and BMS Know-How solely to research, discover,
Develop, make, have made, use, sell, offer to sell, export, import and Commercialize Licensed Compounds and/or Licensed Products in the Field in the Territory. 

For clarification, nothing in this Section 2.1 or this Agreement shall be interpreted as a grant of rights to make, have made, sell, use,
co-formulate or use in combination a Licensed Compound with any (i) molecule that is not a Licensed Compound and is proprietary to BMS or its Affiliates or would require a license from BMS with respect to
the composition, method of use or manufacture of such other molecule, or (ii) that is or could be subject to a governmental grant providing marketing exclusivity with respect to such compound or such product (such as data

  
 11 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 exclusivity under
the FDA’s Orange Book or under national implementations of Article 10.1 of Directive 2001/EC/83), including but not limited to, in each case (i) and (ii), any such compound or such product that is being developed or sold (as of the
Effective Date or in the future) by BMS or its Affiliates or by contractors or collaborators with or on behalf of BMS or its Affiliates. 

2.2 Sublicenses. Prior to a Confirmed POC Clinical Trial, Company shall have no right to grant Sublicenses with respect to the rights
licensed to Company under Section 2.1 without BMS’s prior written consent; provided that, in each case where BMS provides such prior written consent, such Sublicenses are granted solely in accordance with this Section 2.2.
Following a Confirmed POC Clinical Trial, Company shall have the right to grant Sublicenses with respect to the rights licensed to Company under Section 2.1 as follows: (x) to an Affiliate, without the prior written consent of BMS,
(y) to a Third Party [***] and (z) to a Third Party not included in (y), subject to BMS’ prior written consent (not to be unreasonably withheld), provided that, in each case (x), (y) and (z), such Sublicenses are
granted solely in accordance with this Section 2.2. For the purposes of this Section 2.2, [***]. 
 2.2.1 Company shall
have the right to enter into a Sublicense Agreement with a Third Party, provided that: 
 (a) such Sublicense Agreement shall refer
to this Agreement and shall be subordinate to and consistent with the terms and conditions of this Agreement, and, shall not limit Company’s ability to fully perform all of its obligations under this Agreement or BMS’ rights under this
Agreement; 
 (b) in such Sublicense Agreement, the Sublicensee shall agree in writing to be bound to Company by terms and conditions that
allow Company to fully perform the corresponding terms and conditions of this Agreement; 
 (c) within [***] days after the
execution of such Sublicense Agreement, Company shall provide a copy of such Sublicense Agreement to BMS, redacted, only as necessary, to remove content unrelated to obligations due to BMS; 

(d) Company shall remain primarily responsible for all payments due and the making of reports under this Agreement by its Sublicensees and
for compliance by its Sublicensees with all applicable terms of this Agreement (including, without limitation, its payment obligations under Sections 11.1 and Articles 8 and 10 hereof), and shall use Commercially Reasonable Efforts to monitor such
Sublicensees’ compliance with the terms of such License. Company shall remain jointly and severally liable with each of its Sublicensees (whether or not such Sublicensee is an Affiliate of Company) for any failure by such Sublicensee to comply
with the terms and conditions of this Agreement; 
 (e) the Sublicensee shall assume and agree in writing to be bound by and comply with
the terms and conditions of this Agreement in the same manner as Company, including, without limiting the generality of the foregoing, the Sublicensee shall agree in writing to (i) maintain insurance coverage at no less than the levels set
forth in Section 12.4, (ii) keep books and records substantially in accordance with Section 8.7, including permitting audit and inspection rights in accordance with Sections 8.7.3 and 8.7.4, and (iii) the right of termination provided
in Section 13.2; 

  
 12 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 (f)
such Sublicensee shall not have the right to grant further Sublicenses with respect to the Development or Commercialization of Licensed Products, except in accordance with and subject to all of the terms and conditions of this Section 2.2 and
all of the other terms and conditions of this Agreement; 
 (g) any Sublicense rights granted by Company in a Sublicense Agreement (to the
extent such Sublicense rights are granted to Company in this Agreement) shall terminate effective upon the termination under Article 13 of the license from BMS to Company with respect to such sublicensed rights, provided that such Sublicense
rights shall not terminate if, as of the effective date of such termination under Article 13, the Sublicensee is not in material breach of its obligations to Company under its Sublicense Agreement, the Sublicensee was previously granted an exclusive
Sublicense to Develop and Commercialize the Licensed Products or Licensed Compounds, and within [***] days of such termination the Sublicensee agrees in writing to be bound directly to BMS under a license agreement substantially similar to
this Agreement with respect to the rights Sublicensed hereunder, substituting such Sublicensee (a “Surviving Sublicensee”) for Company, and provided further that (A) such license agreement shall not prejudice any
remedy either Party may have against the other in connection with such termination of this Agreement (in whole or in part); (B) the scope of the rights granted to the Surviving Sublicensee under such license agreement (with respect to licensed
activities, Licensed Products and territory) shall be equal to the scope of the rights that had been sublicensed by Company to the Surviving Sublicensee pursuant to the Sublicense Agreement; (C) Company shall no longer be obligated under this
Agreement to pay amounts set forth in this Agreement, to the extent such amounts are payable based on the activities of such Surviving Sublicensee, its Affiliates and its sublicensees from and after the effective date of such termination;
(D) such license agreement shall obligate the Surviving Sublicensee to pay directly to BMS amounts corresponding to those set forth in Article 8 which are payable based on the activities of such Surviving Sublicensee, its Affiliates and its
sublicensees from and after the effective date of such termination, as well as any additional financial consideration it had committed to pay Company or any of Company’s Affiliates as milestone and royalty obligations and other collaboration
fees; (E) the Sublicensee cures any payment default of the Company to BMS as of the effective date of termination; and (F) such license agreement shall not modify the rights and obligations of the Parties following any termination of this
Agreement in whole or in part; and 
 (h) the provisions of this Section 2.2 shall also apply in the event of any subsequent amendment
or modification of any such Sublicense Agreement. 
 2.2.2 For clarity, where provisions of this Agreement provide that Company shall be
“solely” responsible or the like with respect to a matter (for example, Sections 5.4, 5.5, or 7.1), it is understood that such responsibilities may be carried out or borne on Company’s behalf by an Affiliate of Company or by a
permitted Sublicensee or contractor of Company. 
 2.2.3 It shall be a material breach of this Agreement for Company to enter into any
Sublicense hereunder not in compliance with this Section 2.2. 

  
 13 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 2.3
No Trademark License. No right or license, express or implied, is granted to Company to use any trademark, trade name, trade dress, domain name, logos, slogans, or service mark owned or Controlled by BMS or any of its Affiliates. Company, at
its sole cost and expense, shall be responsible for the selection, registration and maintenance of all trademarks which it employs in connection with Licensed Products and its activities conducted pursuant to this Agreement, if any, and shall own
and Control such trademarks. 
 2.4 No Implied Licenses. No license or other right is or shall be created or granted hereunder by
implication, estoppel or otherwise. All such licenses and rights are or shall be granted only as expressly provided in this Agreement. 

2.5 Retained Rights. All rights not expressly granted by a Party hereunder are reserved by such Party and may be used by such Party for
any purpose. Without limiting the foregoing, BMS retains all rights to use and for its Affiliates to use the Licensed Compounds, the BMS Know-How and the BMS Patent Rights for any internal research purposes in
the Field to research, develop and commercialize any molecules other than the Licensed Compounds and Licensed Products, and for the manufacture of any compound that is not a Licensed Compound, provided that such molecules and/or compounds are
not Notch Inhibitors as their primary mechanism of action. BMS also expressly reserves and retains the right to make, have made and use any Licensed Compound for use as an intermediate or starting material in the manufacture of any compound that is
not a Licensed Compound. Nothing in this Agreement shall prevent BMS and its Affiliates from using for any purpose any BMS Know-How that is in the public domain as of the Effective Date (or enters the public
domain thereafter) and is not covered by a Valid Claim of a BMS Patent Right licensed to Company hereunder. 
 ARTICLE 3 

TRANSFER OF KNOW-HOW, TECHNICAL ASSISTANCE 

3.1 Documentation. 

3.1.1 During the [***] period following Company’s request (the “Know-How
Transfer Period”), which request shall be made by Company within [***] following the Effective Date (provided that if Company does not provide such request within the [***] period following the Effective Date, the Know-How Transfer Period will automatically commence on the date that is [***] after the Effective Date), BMS shall provide Company with electronic (or tangible embodiments, if electronic is not available) of
the Know-How listed on Appendix 6, including copies of originals of laboratory notebooks or pages thereof and, where required by Company to fulfill its duties under applicable Law, copies of
manufacturing run records required to be maintained by BMS under applicable Law; provided that, with respect to BMS Know-How contained in laboratory notebooks, BMS shall be required to provide Company
with copies of those laboratory notebook pages (electronic copies, if they exist) [***] that contain BMS Know-How relating to Licensed Compounds. Such documentation is Confidential Information of
BMS shall not be used by Company for any purpose other than for the discovery, research, Development or Commercialization (including any import, manufacture, use, offer for sale, or sale) of Licensed Compounds and/or Licensed Products in accordance
with this Agreement. Company shall assume full responsibility and liability to BMS for any unauthorized 

  
 14 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 use or disclosure of
such Confidential Information. BMS shall be responsible for the cost of providing one (1) set of copies (electronic, where they exist) only. BMS shall have no obligation to reformat or otherwise alter or modify any materials, or to create
materials in electronic form, in order to provide them to Company, provided that, such material will be delivered to Company unencrypted (or if encrypted, provided with a means for unencrypting). Any and all materials and other BMS Know-How delivered to Company pursuant to this Section 3.1 are and shall remain the sole property of BMS. 

Without limiting the foregoing, if, within [***] after the Effective Date Company reasonably determines that there is additional,
specific BMS Know-How Controlled by BMS and its Affiliates that existed as of the Effective Date that is reasonably necessary for the continued Development or manufacture (but only those manufacturing and
formulation processes, techniques and trade secrets used by BMS for making such Licensed Compounds as of the Effective Date) of any Licensed Compound or Licensed Product that has not been provided during the
Know-How Transfer Period, then Company may request within such [***] period that BMS transfer to Company such additional BMS Know-How and BMS will use
Commercially Reasonable Efforts to locate and provide same, provided that BMS shall not be required to conduct an unreasonable search for any such additional BMS Know-How. 

3.1.2 Notwithstanding Section 3.1.1 or 3.2, nothing herein shall require BMS to transfer, disclose or provide to Company (i) any
reagents, assays or other tangible biological or chemical materials that are not listed on Appendix 4, and (ii) any general information or know-how that should reasonably be known to a
pharmaceutical company engaged in the research, development, manufacture or commercialization of small molecules for the treatment of cancer. 

3.1.3 Any data or information included in the INDs to be transferred under Section 3.3 does not need to be separately transferred
pursuant to Section 3.1.1 or Section 3.2. 
 3.2 Technical Assistance. During the [***] period following the
Effective Date (the “TA Period”), BMS shall reasonably cooperate with Company to assist Company with understanding and using the BMS Know-How provided to Company under Section 3.1. Such
cooperation shall include, without limitation, providing Company with reasonable access by teleconference or in-person at BMS’ facilities (subject to BMS’ customary rules and restrictions with
respect to site visits by non-BMS personnel) to BMS personnel who are appropriately qualified and experienced for such purpose, and to the extent reasonably available, to BMS personnel who were directly
involved with the research or development of Licensed Compounds or Licensed Products prior to the Effective Date. In no event shall BMS be obligated to provide Company with more than (x) [***] hours of technical assistance and consultation in
connection with the BMS Know-How transferred under Section 3.1 to the extent the Know-How does not relate to manufacturing
Know-How, and (y) [***] hours technical assistance and consultation in connection with the BMS Know-How transferred under Section 3.1 to the extent it
relates to manufacturing Know-How; provided that upon Company’s request, BMS shall provide additional technical assistance beyond the foregoing, at a mutually agreed commercially reasonable hourly
rate, up to an additional [***] hours. Further: (i) such access shall be requested and coordinated through a single contact person to be designated by BMS, (ii) BMS makes no warranty, express or implied, that Company shall be able
to successfully implement and use the BMS Know-How, and (iii) BMS shall not be in default hereunder for any inadvertent failure to disclose all pertinent 

  
 15 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 information related
to the BMS Know-How, provided that such information shall be supplied to Company promptly upon discovery of such failure to disclose or upon request of Company identifying with reasonable specificity
the nature of the information to be disclosed. Company shall be responsible for ensuring that its personnel who receive such assistance are appropriately qualified and experienced for such purpose. 

3.3 INDs. BMS will use its Commercially Reasonable Efforts to assign and transfer within [***] days after Company’s request
(which request by Company shall come within [***] days after the Effective Date) all of its rights, title and interests in and to any INDs for the Licensed Compounds. Company will cooperate in connection therewith and shall perform all duties
under such INDs from and after such assignment. Subject to the foregoing, the Parties will reasonably cooperate to ensure an orderly transition of duties under such INDs and to fulfill applicable filing obligations with regulatory authorities. 

3.4 Safety Database. BMS shall transfer to Company the safety database for the Licensed Compounds, in a mutually agreeable format, as
soon as practicable subsequent to the Effective Date as agreed to by the Parties, and Company shall thereafter perform all responsibilities thereafter with respect to reporting of adverse events and pharmacovigilance relating to the Licensed
Compounds. 
 3.5 Pharmacovigilance Agreement. Within [***] after the Effective Date, BMS and the Company (under the guidance
of their respective Pharmacovigilance Departments, or equivalent thereof) shall define and finalize the responsibilities the Parties shall employ to protect patients and promote their well-being in connection with the use of the Licensed Compound(s)
until such time that all pharmacovigilance responsibilities have transferred from BMS to Company. These responsibilities shall include mutually acceptable guidelines and procedures for the receipt, investigation, recordation, communication, and
exchange (as between the Parties) of adverse event reports, pregnancy reports, and any other information concerning the safety of any Licensed Compound(s). Such guidelines and procedures shall be in accordance with, and enable the Parties and their
Affiliates to fulfill, local and international regulatory reporting obligations to government authorities. Furthermore, such agreed procedures shall be consistent with relevant International Council for Harmonization (ICH) guidelines, except where
said guidelines may conflict with existing local regulatory safety reporting requirements, in which case local reporting requirements shall prevail. Until such guidelines and procedures are set forth in a written agreement between the Parties
(hereafter referred to as the “Pharmacovigilance Agreement”), the Party responsible for pharmacovigilance prior to execution of this Agreement shall have sole Pharmacovigilance responsibility for the Licensed Compound(s) subject to
all applicable regulations and guidelines. In the event that this Agreement is terminated, the Parties agree to implement the necessary procedures and practices to ensure that any outstanding pharmacovigilance reporting obligations are fulfilled.

  
 16 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

ARTICLE 4 
 TRANSFER OF
MATERIALS 
 4.1 Materials. Within [***] days after requested by Company, but no later than [***] days after the
Effective Date, BMS shall transfer to Company those Licensed Compounds identified in Appendix 4, ex-works (EXW) at the applicable BMS facility(ies), in the quantities set forth in Appendix 4 (any
such materials that are actually transferred, the “Transferred Materials”). Title and risk of loss shall be transferred to and borne by Company upon delivery of the Transferred Materials by BMS to a common carrier for shipment to
Company, and Company shall be responsible for any indirect taxes levied upon the transfer, including customs duties and import VAT if applicable. Other than the Transferred Materials, or as otherwise included within the scope of BMS Know-How (but subject to Section 3.1.2), BMS shall have no other obligation to provide Company with any compounds or other materials, such as assays or biomaterials, under this Agreement. Any such Transferred
Materials identified as cGMP materials in Appendix 4 (the “cGMP Materials”) shall be accompanied by a certificate of analysis, certificate of manufacturing, batch records and other such documentation, information materials as
may be required under Applicable Law to enable use of such cGMP Material in human Clinical Trials, including written certification, and BMS hereby represents and warrants, that such cGMP Materials were both (a) manufactured, and (b) stored
and handled at all times following such manufacture, in accordance with cGMP. Except for the express representations and warranties made above in this Section 4.1, BMS makes no other representations or warranties, express or
implied, as to the Transferred Materials, including any warranty as to merchantability or fitness for a particular use or purpose. Any requalification required for Transferred Materials that are not cGMP Materials will be [***]. Company
agrees that: (a) Company shall be fully responsible for its and its Affiliates’, Sublicensees’ and contractors’ use, storage, handling and disposition of the Transferred Materials, (b) under no circumstances shall BMS be
liable or responsible for Company’s or its Affiliates’, Sublicensees’ and contractors’ use, storage, handling or disposition of the Transferred Materials, and (c) Company assumes sole responsibility for any claims,
liabilities, damages and losses that might arise as a result of Company’s and its Affiliates’, Sublicensees’ and contractors’ use, storage, handling or disposition of any Transferred Material. Company shall indemnify, defend and
hold harmless BMS and its Affiliates, and their respective officers, directors, employees, agents, licensors, and their respective successors, heirs and assigns and representatives, from and against any and all damages, liabilities, losses, costs
and expenses (including reasonable legal expenses, costs of litigation and reasonable attorney’s fees) arising in connection with any claims, suits, proceedings, whether for money damages or equitable relief, of any kind, arising out of or
relating to Company’s, or any of its Affiliates’, Sublicensees’ or contractors’ use, storage, handling or disposition of any Transferred Material. Transferred Materials may only be provided by Company to Affiliates of Company,
Sublicensees and contractors of Company. 
 ARTICLE 5 

DEVELOPMENT 
 5.1
Development. Company shall itself or through its Affiliates or Sublicensees use Commercially Reasonable Efforts to Develop at least one Licensed Product, including by (i) setting forth in the Development Plan a program of Development
activities and reasonable estimated timelines therefor for each phase of pre-clinical and clinical Development for Licensed Compounds and Licensed Products, and (ii) assigning appropriately qualified and
experienced personnel to perform and monitor the progress of, or overseeing Third Parties who perform, such Development activities on an on-going basis. The initial Development Plan as of the Effective

  
 17 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 Date is attached
hereto as Appendix 2, and may be amended by the Company from time to time at the Company’s sole discretion. During the Term, Company shall (a) provide BMS no later than March 1 of each Calendar Year with a copy of the revised
Development Plan for each Licensed Compound and Licensed Product for such Calendar Year and [***], and (b) within a reasonable period of time notify BMS if, as a result of interactions with Regulatory Authorities in relation to the
Licensed Product, Company reasonably determines that the estimated timelines for Development and Commercialization for Licensed Products set forth in the Development Plan are likely to be delayed so as to have a material adverse effect on such
Development and Commercialization of Licensed Products, and shall within a reasonable period of time thereafter update the Development Plan to reflect such revised estimated timelines. Company shall within [***] notify BMS of any change in
any study that is likely to have a material adverse effect on the Development and Commercialization of Licensed Compounds or Licensed Products included in the Development Plan last provided to BMS of which it becomes aware and the reasons therefor.

 5.2 Development Reports. Company shall provide BMS with written Development reports [***] each Calendar Year during the
term of Development activities summarizing (but without disclosing specific data or results) such activities in reasonably sufficient detail to enable BMS to determine Company’s compliance with its diligence obligations in Section 5.1;
provided that beginning in 2021, Company shall provide BMS with such written Development reports [***]. Such reports shall include without limitation (a) the research and other Development activities accomplished by Company under
the existing Development Plan through the end of the immediately preceding six-month period ending December 31 or June 30, as the case may be, with respect to Licensed Compounds and Licensed Products
(provided that Development reports beginning in 2021 shall instead include the research and other Development activities accomplished by Company under the existing Development Plan through the end of the immediately preceding Calendar Year
with respect to Licensed Compounds and Licensed Products), (b) updates on Company’s progress against the existing Development Plan, and (c) any revisions proposed to be made to any Development Plan for the then current Calendar Year;
provided, however, that the first such report shall be due no later than March 1, 2018. If any such Development obligations have been sublicensed to a Sublicensee, Company shall require the Sublicensee to provide to BMS the same
information as required of Company hereunder with respect to the progress of the development of Licensed Compounds and Licensed Products by such Sublicensee. If requested by BMS, Company (and, if applicable, Sublicensee) personnel who prepared the
report will meet with BMS at a reasonable time and place (which may be by teleconference) and upon reasonable advance written notice to discuss any reasonable questions or comments that BMS might have on the report and Company’s development
activities. 
 5.3 Records. Company shall maintain complete and accurate records of all work conducted in furtherance of the
research, Development and Commercialization of the Licensed Compounds and/or Licensed Products and all results, data and developments made in furtherance thereof to the extent required under applicable Laws. Such records shall properly reflect all
work done and results achieved in sufficient detail and in good scientific manner to the extent required under applicable Laws. 

  
 18 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 5.4
Development Responsibilities and Costs. As between the Parties, Company shall have sole responsibility for, and shall bear the cost of conducting, research and Development with respect to the Licensed Compounds and/or Licensed Products.
Company shall research and Develop the Licensed Compounds and/or Licensed Products in compliance with all applicable Laws, including all legal and regulatory requirements pertaining to the design and conduct of Clinical Trials. For clarity, BMS
shall be responsible for the payment of all payment obligations to any third Parties pursuant to licenses obtained by BMS with respect to any Third Party Know How or Third Party Patent Rights included in the BMS
Know-How or BMS Patent Rights, respectively, except with respect to Third Party Compensation, which shall be determined pursuant to 8.4.4(a). 

5.5 Regulatory Responsibilities and Costs. As between the Parties, Company shall have sole responsibility for, and shall bear the cost
of preparing, all regulatory filings and related submissions with respect to the Licensed Compounds and/or Licensed Products. Except as set forth in Article 13, Company shall own all INDs, Approvals and submissions in connection therewith and all
Approvals shall be obtained by and in the name of Company. 
 5.6 Competitive Compound. 

5.6.1 During [***], neither Company nor its Affiliates (or any Sublicensee of Company or any Affiliate of such Sublicensee) shall
itself or through any Third Party, or in collaboration with any Third Party, engage, directly or indirectly in the clinical Development or Commercialization of a Competitive Compound. [***]. 

5.6.2 Notwithstanding Section 5.6.1, if Company or any of its Affiliates, either through its own development efforts or by acquisition,
or obtains ownership of or a license to, or is acquired by or otherwise merges with an entity (or an Affiliate of such entity) that owns or has a license to, a Competitive Compound, in all such cases that would result in a violation of
Section 5.6.1 (any such event, a “Triggering Event”), then Company shall notify BMS in writing and elect (as applicable) one of the following actions within [***] after such Triggering Event: 

(a) divest itself of such Competitive Compound and notify BMS in writing of such divestiture, which divestiture may occur by an outright sale
to a Third Party of all of Company’s and its Affiliate’s rights to such Competitive Compound or by an outlicense arrangement under which Company has no continuing active involvement in the development or commercialization of such
Competitive Compound [***]; or 
 (b) Company shall notify BMS in writing whether Company desires to negotiate terms under which the
Competitive Compound would be included as a Product within this Agreement. [***]. 
 ARTICLE 6 

COMMERCIALIZATION 
 6.1
Company Obligations. Company shall use Commercially Reasonable Efforts to (i) obtain Approvals in [***] for at least one Licensed Product, (ii) effect the First Commercial Sale of each Licensed Product for which such
Approvals are obtained into each of such Major Market Countries as soon as reasonably practicable after receipt of such Approvals and (iii) 

  
 19 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 Commercialize each
such Licensed Product in each of such Major Market Countries following such First Commercial Sale therein with the goal of maximizing the Net Sales of such Licensed Product in such Major Market Countries. As between the Parties, Company shall have
sole responsibility for, and shall bear the cost of, Commercializing Licensed Products. 
 6.2 Continued Availability. Following the
First Commercial Sale of a Licensed Product in a country in the Territory and until the expiration or termination of this Agreement, Company shall be responsible for manufacturing (or having manufactured) at its sole expense and using Commercially
Reasonable Efforts to maintain supplies of such Licensed Product sufficient to satisfy Company’s expected Commercialization efforts in such country. 

6.3 Reports. Following the First Commercial Sale of a Licensed Product in a country in the Territory, Company shall provide BMS with a
written report within [***] days of the filing of the Company Annual Report with the U.S. Securities and Exchange Commission (or if no such report is filed, then within [***] days after the end of a Calendar Year), summarizing
significant commercial activities with respect to Licensed Products during the just ended Calendar Year in countries in which there has been a First Commercial Sale of a Licensed Product, broken out separately for each applicable Major Market
Country, [***]. If requested by BMS, Company personnel who prepared the report will meet with BMS, which may be by teleconference, to discuss and answer any questions or comments that BMS might have on the report and Company’s
commercialization activities during the [***] day period following delivery of such written report to BMS. 
 ARTICLE 7 

MANUFACTURE AND SUPPLY 

7.1 Manufacture and Supply. As between the Parties, Company shall be solely responsible at its expense for all of its requirements for
making or having made all of its requirements of the Licensed Compounds and/or Licensed Products, except for Transferred Materials. 

ARTICLE 8 
 FINANCIAL
TERMS 
 In consideration of the rights granted by BMS to Company pursuant to this Agreement, Company shall make the payments provided
for in this Article 8. 
 8.1 Initial Payment. Company shall: 

8.1.1 Within [***] after the Effective Date, pay to BMS a nonrefundable, noncreditable payment of Six Million Dollars ($6,000,000) in
cash by wire transfer into an account designated in writing by BMS; and 

  
 20 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

8.1.2 Within [***] after the Effective Date, issue to BMS preferred stock of Company equal to eight percent (8.0%) of Company’s
capital stock on a fully-diluted basis at the time of issuance, and concurrent with any subsequent issuances of equity by Company, BMS shall be entitled to receive without any additional consideration that number of additional shares of Company
preferred stock as is required for BMS to maintain its eight percent (8.0%) equity ownership in Company (on a fully-diluted basis); provided that this anti-dilution right shall apply only until the earlier to occur of (i) the date by
which Company shall have raised [***] in proceeds from equity financings in the aggregate and (ii) the date by which Company’s pre-money valuation is equal to [***] or more in
connection with the closing of an equity investment of not less than [***] that includes an investment of not less than [***] by external investors that are not, nor have ever been, Affiliates of Company or of any of the stockholders
of Company prior to the closing of such equity financing; provided further that with respect to equity financings in excess of such [***] or pre-money valuations in excess of [***], BMS
shall have the right (but not the obligation) to participate, in its sole discretion, in any such financings on the same terms and conditions (including price) as the other investors in order to maintain its eight percent (8.0%) ownership interest
in Company (on a fully diluted basis). The shares of preferred stock issued by Company to BMS will have the same rights and privileges, and be subject to the same terms and conditions (e.g., voting rights, registration rights, rights of co-sale, etc.), as the preferred stock issued in connection with Company’s Series A financing, the term sheet for which is attached hereto as Appendix 7. For clarity, “fully-diluted” shall not
include authorized but unissued options. 
 8.2 Milestone Payments. 

8.2.1 Development Milestones. Company shall pay to BMS the following one-time milestone
payments set forth in the table below within [***] after the first achievement of the specified milestone event by Company, its Affiliates, and Sublicensees for the first Licensed Product to achieve such milestone event. Company shall provide
written notice to BMS within [***] after the first achievement of the specified milestone event by Company, Affiliates, and Sublicensees. Each milestone payment shall not be refundable or returnable in any event, nor shall it be creditable
against royalties or other payments: 
 [***] 

For purposes of this Section: 

(i) The set of milestone payments in the table above shall be payable by Company to BMS upon the first achievement of each such
milestone event for the first Licensed Compound to achieve the milestone event. 
 (ii) For each additional Licensed Compound
that subsequently achieves the same milestone event that the first Licensed Compound achieved, the milestone payment for such additional Licensed Compound shall be (1) fifty percent (50%) of the payments set forth in the above table and
(2) subject to credit or deferral as set forth in clause (iii) below. 
 (iii) If Development is discontinued for a
Licensed Compound before the Regulatory Approval(s) is obtained in the U.S., the EU or Japan for that Licensed Compound, the milestone payments achieved for the next most advanced subsequent Licensed Compound in Development, will be waived for any
previously paid milestone payments for that discontinued Licensed Compound. 

  
 21 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

(iv) [***]. 

(v) [***]. 

(vi) [***]. 

(vii) [***]. 

(viii) [***]. 

(ix) [***]. 

(x) [***]. 

(xi) [***]. 

(xii) [***]. 

8.2.2 Sales-Based Milestones. The following sales based milestone payments shall be payable by Company to BMS when the annual worldwide
Net Sales in a calendar year of Licensed Product by Company, its Affiliates and Sublicensees first reach or exceed the specified thresholds: 
  

					
	 Annual Worldwide Net Sales
	  	Milestone Payment	 
	 $[***]
	  	$	[***]	 
	 $[***]
	  	$	[***]	 
	 $[***]
	  	$	[***]	 
	 $[***]
	  	$	[***]	 
		  	  
	  
	 
	 Total
	  	$	50 million	 
		  	  
	  
	 

 Such milestone payments shall be payable one-time for a particular Licensed Product
within [***] following the end of the calendar year after the Licensed Product first reaches the net sales threshold. Each milestone payment shall not be refundable or returnable in any event, nor shall it be creditable against royalties or
other payments. 
 8.3 Sublicense Revenue Sharing. In addition to the milestones and royalty payments set forth in Sections 8.2 and
8.4, Company shall pay to BMS the following percentage of all Sublicense Revenues Company receives in connection with any Sublicense or any assignment of rights to the BMS Patents, the Licensed Compounds and/or Licensed Products, depending on the
stage of Development of the most advanced Licensed Compound or Licensed Product that is subject to the applicable Sublicense or such assignment: 

  
 22 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

													
	 	  	DEVELOPMENT STAGE OF LICENSED COMPOUND OR
LICENSED PRODUCT AS OF THE DATE OF THE
SUBLICENSE	 
	 	  	[***]	 	 	[***]	 	 	[***]	 
	 PERCENT OF SUBLICENSE REVENUES PAYABLE TO BMS
	  	  
	 [
	 ***]% 
	 	 	[	***]% 	 	 	[	***]% 

  
 23 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

									
	 	  	DEVELOPMENT STAGE OF LICENSED COMPOUND OR
LICENSED PRODUCT AS OF THE DATE OF THE
ASSIGNMENT	 
	 	  	[***]	 	 	[***]	 
	 PERCENT OF SUBLICENSE REVENUES PAYABLE TO BMS
	  	 	[	***]% 	 	 	[	***]% 

 Notwithstanding the foregoing, in the event Sublicense Revenue received by Company from a Sublicensee is for the same
milestone event or royalty tier that Company pays BMS under this Agreement, the percent stated in the tables above shall apply only to Sublicense Revenue that is [***] the payment Company pays to BMS for the same milestone event or royalty
tier under this Agreement ([***]). 
 [***] 

For clarity, the percent stated in the above tables shall apply to any particular Sublicense Revenue that is not included in the Agreement (e.g., the upfront
payment from the Sublicensee or a milestone payment for a milestone event not included in the Agreement). 
 8.4 Royalty Payments.

 8.4.1 Subject to the terms of this Agreement Company shall pay to BMS tiered royalties based on the total annual worldwide Net Sales in
the Territory of each Licensed Product (including all indications and formulations for such Licensed Product) during the applicable Royalty Term for such Licensed Product. The royalty payable with respect to each particular Licensed Product shall be
calculated by multiplying the applicable royalty rate below by the portion of total annual worldwide Net Sales in the applicable tier in a Calendar Year of the applicable Licensed Product by Company, its Affiliates, and Sublicensees in the
Territory, as follows. 
  

					
	 Portion of total annual
worldwide Net Sales in a
Calendar Year
for such
Licensed Product that falls
within the following tiers:
	  	    Royalty Rate    	 
	 [***]
	  	 	[***]	% 
	 [***]
	  	 	[***]	% 
	 [***]
	  	 	[***]	% 

 [***] 

  
 24 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

8.4.2 Royalty Term. Royalties shall be payable on a
Licensed Product-by-Licensed Product and country-by-country basis on Net Sales of
Licensed Products from the First Commercial Sale of a particular Licensed Product in a country until the later of (i) ten (10) years after the First Commercial Sale of such Licensed Product in such country, (ii) the expiration of the last
to expire Valid Claim in the BMS Patent Rights that would be infringed by the manufacture, use, sale, importation or offer for sale in such country of a given Licensed Product (including by reasons of extensions thereof under applicable Laws,
including patent term extensions, pediatric exclusivity or supplemental protection certificates or their equivalents in any country), or (iii) the expiration of any regulatory or marketing exclusivity for such Licensed Product in such country,
including but not limited to any data exclusivity (the “Royalty Term”); provided that, if (ii) does not apply or no longer applies, the royalty payable by Company to BMS for the remainder (if any) of the Royalty Term
with respect to such Licensed Product shall be determined by a royalty rate equal to [***] percent ([***]%) of the royalty rate set forth in Section 8.4.1. 

8.4.3 Royalty Conditions. The royalties under Section 8.4.1 shall be subject to the following conditions: 

(a) only one royalty shall be due with respect to the same unit of Licensed Product; 

(b) no royalties shall be due upon the sale or other transfer among any Related Party, but in such cases the royalty shall be due and
calculated upon the Related Party’s Net Sales of Licensed Product to the first non-Related Party; and 

(c) no royalties shall accrue on the disposition of Licensed Product in reasonable quantities by any Related Party as part of an expanded
access program or as bona fide samples or as donations to non-profit institutions or government agencies for non-commercial purposes or for the performance of
clinical trials, provided, in each case, that such Related Party does not receive any payment for such Licensed Product exceeding the cost of goods. 

8.4.4 Royalty Reduction. 
 (a)
If (i) Company, in its reasonable judgment, determines that it is required to obtain a license from any Third Party in order to avoid infringement of such Third Party’s Patent Rights as a result of the practice of the BMS Patent
Rights and/or the BMS Know-How in connection with the Development and/or Commercialization (but excluding manufacturing) of any Licensed Product, (ii) such Third Party’s Patent Rights
[***], and (iii) Company is required to pay to such Third Party a royalty or milestone payments in consideration for the grant or maintenance of such license (“Third Party Compensation”), then the amounts that would
otherwise have been payable as royalties to BMS under this Agreement shall be reduced by [***] percent ([***]%) of all Third Party Compensation payable by or on behalf of Company to such Third Party, provided that, in no event
shall the royalty reductions described in this Section 8.4.4(a) act to reduce the royalties payable by Company to less than [***] percent ([***]%) of the amounts payable by Company for a given [***] pursuant to
Section 8.4.1. 

  
 25 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 (b)
If, during the Royalty Term in a particular country where one or more Generic Products with respect to a Licensed Product are sold in that country, the royalty rates set out in Section 8.4.1 shall be reduced: 

(i) by [***], in the event that in any calendar quarter such Generic Product(s), by unit equivalent volume in such
country, exceed a [***] share of the market; 
 (ii) by [***], in the event that in any calendar quarter such
Generic Product(s), by unit equivalent volume in such country, exceed a [***] share of the market; and 
 (iii) by
[***], in the event that in any calendar quarter such Generic Product(s), by unit equivalent volume in such country, exceed a [***] share of the market. 

(c) Notwithstanding the foregoing, in no event shall the royalty reductions described in this Section 8.4.4 act to reduce the royalties
payable by Company to less than [***]. 
 8.4.5 Forecast. The Company shall provide on or before September 30 of each
Calendar Year a non-binding good faith forecast of sales and royalties for the entire current and next Calendar Year. 

8.4.6 Effect of Patent Challenge. In the event Company (or any of its Affiliates or Sublicensees) challenges or knowingly assists
(other than in response to a subpoena or court order), including without limitation by providing information, documents, advice, and/or funding, a challenge to the validity, scope, patentability or enforceability of any of the BMS Patent Rights, and
such challenge is unsuccessful either because (i) Company files a suit or initiates another legal proceeding challenging the validity or enforceability of any such BMS Patent Right and then withdraws or terminates the suit or proceeding,
(ii) any challenged claim that would be infringed but for the license has been upheld, even in amended form, as determined by a court of competent jurisdiction or other legal tribunal, or (iii) Company, in connection with such challenge,
fails to produce reasonably credible evidence demonstrating the invalidity or unenforceability of all applicable patent claims in the BMS Patent Rights in such country; then the royalty rates set forth in Section 8.4.1 above shall be increased
by [***] of the percentages set forth above ([***]), retroactively effective to the date that such suit or other legal proceeding was filed or otherwise formally initiated. 

8.5 Manner of Payment. All payments to be made by Company under this Agreement shall be made in U.S. Dollars by electric fund transfer
of immediately available funds to such bank account as shall be designated by BMS. Late payments shall bear interest at the rate provided in Section 8.10. 

  
 26 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 8.6
Sales Reports and Royalty Payments. After the First Commercial Sale of a Licensed Product and during the term of this Agreement, Company shall furnish to BMS a written report, within [***] days after the end of each [***] (or
portion thereof, if this Agreement terminates during a [***]), showing the amount of royalty due for such [***] (or portion thereof). Royalty payments for each [***] shall be due at the same time as such written report for the
[***]. With each [***] payment, Company shall deliver to BMS a full and accurate accounting to include at least the following information: 

8.6.1 the total gross sales for each Licensed Product (by country) by Company and its applicable Related Parties, if any, and the calculation
of Net Sales from such gross sales; 
 8.6.2 the deductions by category of permitted deductions set forth in the Net Sales definition; 

8.6.3 the total Net Sales for each Licensed Product (by country) by Company and its applicable Related Parties, if any, and the calculation of
Net Sales from such gross sales; 
 8.6.4 the calculation of royalties payable in Dollars which shall have accrued hereunder in respect of
such Net Sales; 
 8.6.5 withholding taxes, if any, required by applicable Law to be deducted in respect of such royalties; and 

8.6.6 the exchange rates used in determining the amount of Dollars payable hereunder. 

If no royalty or payment is due for any royalty period hereunder, Company shall so report. 

8.7 Sales Record Audit. 

8.7.1 Company shall keep, and shall cause each of its applicable Related Parties, if any, to keep, complete, true and accurate books of
accounts and records in accordance with GAAP, including gross sales in accordance with GAAP and any deductions thereto in accordance with this Agreement’s Net Sales definition in connection with the calculation of Net Sales, sufficient to
determine and establish the amounts payable incurred under this Agreement, and compliance with the other terms and conditions of this Agreement. 

8.7.2 Such books of accounting of Company and its Affiliates shall be kept at their principal place of business and, with all necessary
supporting data and records, shall during all reasonable times for the [***] next following the end of the Calendar Year to which each shall pertain, be open for inspection not more than [***] per Calendar Year at reasonable times by
an independent certified public accountant selected by BMS and as to which Company has no reasonable objection, at BMS’ expense, for the purpose of verifying royalty statements and payments for compliance with this Agreement for any period
within the preceding [***]. 
 8.7.3 Company shall include in its Sublicense Agreements with any Sublicensees, a right for Company to
inspect or have such an accountant inspect, not more than [***] during any Calendar Year, the books of accounting and such supporting data and records of such Sublicensees for the purpose of verifying royalty statements and payments for
compliance with this Agreement for any period within the preceding [***]. 

  
 27 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

8.7.4 Results of any inspection under Section 8.7.2 or 8.7.3 shall be made available to both Company and BMS. The independent, certified
public accountant shall disclose to BMS only the amounts that the independent auditor believes to be due and payable hereunder to BMS, details concerning any discrepancy from the amount paid (including the reasons therefor) and the amount due, and
shall disclose no other information revealed in such audit. 
 8.7.5 Such accountant must have agreed in writing to maintain all information
learned in confidence, except as necessary to disclose to BMS such compliance or noncompliance by Company, and any applicable Related Parties (who must agree in the Sublicense Agreement that such audit report may be disclosed to BMS). The results of
each inspection, if any, shall be binding on both Parties. BMS shall pay for such inspections, except that in the event there is any upward adjustment in aggregate royalties payable for any Calendar Year shown by such inspection of more than
[***] of the amount paid, Company shall pay for such inspection. Any underpayments shall be paid by Company within [***] days after notification of the results of such inspection. Any overpayments shall be fully creditable against
amounts payable in subsequent payment periods. If no further royalty payments are owed to BMS, BMS shall reimburse Company for the amount of the overpayment within [***] days. 

8.8 Currency Exchange. The Company’s then current standard exchange rate methodology will be employed for the translation of
foreign currency sales into Dollars, provided such methodology is used by the Company in the translation of its foreign currency operating results, is consistent with GAAP, and is audited by the Company’s independent certified public
accountants in connection with the audit of the consolidated financial statements of Company, and is used for the Company’s external reporting of foreign currency operating results. 

8.9 Taxes. 
 8.9.1 Each
Party will pay any and all taxes levied on account of all payments it receives under this agreement. 
 8.9.2 If laws or regulations require
that taxes be withheld with respect to any royalty payments by Company to BMS under this Agreement, Company will: (a) deduct those taxes from the remittable payment, (b) pay the taxes to the proper taxing authority, and (c) send
evidence of the obligation together with proof of tax payment to BMS within [***] days following that tax payment. Each Party agrees to cooperate with the other Party in claiming refunds or exemptions from such deductions or withholdings
under any relevant agreement or treaty which is in effect. The Parties shall discuss applicable mechanisms for minimizing such taxes to the extent possible in compliance with applicable Laws. BMS will pay any and all taxes levied on account of all
payments it receives under this Agreement; provided, that notwithstanding the foregoing, in the event that payments are made by Company other than from the mainland U.S. (e.g., as a result of an assignment under Section 15.4.2), then
Company shall, in addition to complying with the foregoing, pay an amount to BMS such that when any taxes that are required to be withheld have been deducted, BMS receives that amount it would have received had the payment been made from the
mainland U.S. 

  
 28 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

8.9.3 The Parties shall cooperate in accordance with applicable Laws to minimize indirect taxes (such as value added tax, sales tax,
consumption tax and other similar taxes) in connection with this Agreement. 
 8.10 Interest Due. Without limiting any other rights
or remedies available to BMS, Company shall pay BMS interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [***] per month or the maximum applicable legal rate, if less,
calculated on the total number of days payment is delinquent. 
 8.11 Company Financial Report. Until Designated Approval of the
first Licensed Product, Company shall send BMS (to the contact as specified in writing by BMS) an updated then-current financial statement for Company for each Calendar Year within [***] days following the end of such Calendar Year. The first
such report shall be due with respect to partial Calendar Year ended December 31, 2017, provided such first report shall be unaudited. 

ARTICLE 9 

REPRESENTATIONS AND WARRANTIES; 

DISCLAIMER; LIMITATION OF LIABILITY 

9.1 Mutual Representations and Warranties. Each Party represents and warrants to the other Party that, as of the Effective Date:
(i) it is duly organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation and has all requisite corporate power and authority to enter into this Agreement and to perform its obligations under this
Agreement, (ii) execution of this Agreement and the performance by such Party of its obligations hereunder have been duly authorized, (iii) this Agreement has been duly executed and delivered on behalf of such Party, and is legally binding
and enforceable on each Party in accordance with its terms, (iv) the performance of this Agreement by it does not create a breach or default under any other agreement to which it is a Party, (v) the execution, delivery and performance of
this Agreement by such Party does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it is bound, nor violate any Law or regulation of any court, governmental body or administrative or
other agency having jurisdiction over such Party, (vi) no government authorization, consent, approval, license, exemption of or filing or registration with any court or governmental department, commission, board, bureau, agency or
instrumentality, domestic or foreign, under any Laws currently in effect, is or will be necessary for, or in connection with, the transaction contemplated by this Agreement or any other agreement or instrument executed in connection herewith, or for
the performance by it of its obligations under this Agreement and such other agreements, and (vii) neither such Party, nor any of its employees, officers, subcontractors, or consultants who have rendered services relating to the Licensed
Compounds: (a) has ever been debarred or is subject to debarment or convicted of a crime for which an entity or person could be debarred by the FDA under 21 U.S.C. Section 335a or (b) has ever been under indictment for a crime for
which a person or entity could be so debarred. 

  
 29 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 9.2
Representations, Warranties, and Covenants of BMS. BMS represents and warrants to Company that, as of the Effective Date: 
 9.2.1 BMS
owns and Controls the BMS Patent Rights and BMS Know-How and has the full power and authority to grant the licenses under this Agreement, and no rights granted to Company pursuant to this Agreement are in
violation of any existing agreement between BMS or any of its Affiliates and any Third Party; 
 9.2.2 there is no pending litigation or
proceeding, or litigation or proceeding that has been threatened in writing, which alleges, or any written communication alleging, that BMS’ activities with respect to the research, Development or manufacture of the Licensed Compounds prior to
the Effective Date have infringed or misappropriated, or would infringe or misappropriate, any of the intellectual property rights of any Third Party; 

9.2.3 no Third Party has challenged in writing, and there is no pending litigation or proceeding, or litigation or proceeding that has been
threatened in writing challenging, the ownership, scope, duration, validity, enforceability, priority or right to use any BMS Patent Rights (including, by way of example, through the institution of or written threat of institution of interference,
inter partes review, reexamination, protest, opposition, nullity or similar invalidity proceeding before the United States Patent and Trademark Office or any foreign patent authority or court); 

9.2.4 To BMS’ Knowledge, the BMS Patent Rights are valid and enforceable; 

9.2.5 all fees required to be paid by BMS in any jurisdiction in order to maintain the Patent Rights licensed to Company hereunder have, to
BMS’ Knowledge, been timely paid as of the Effective Date and, to BMS’ Knowledge, the claims included in any issued patents included in such Patent Rights are in full force and effect as of the Effective Date; 

9.2.6 BMS has not previously assigned, transferred, conveyed, or granted any license or other rights to its right, title and interest in the
BMS Patent Rights or the BMS Know-How, in any way that would conflict with or limit the scope of any of the rights or licenses granted to Company hereunder; 

9.2.7 BMS’ right, title and interest to all the BMS Patent Rights are free of any lien or security interest; 

9.2.8 none of the BMS Patent Rights listed in Appendix 1 is licensed from a Third Party and BMS is not subject to any contractual payment
or other obligations to any Third Party as a result of the execution of this Agreement or the Development, manufacture or Commercialization of the Licensed Compounds and/or Licensed Products in the Field in the Territory; 

9.2.9 none of the BMS Patent Rights, nor any of the Licensed Compounds or Licensed Products, were Developed using any U.S. Government or
agency funding and are not subject to any obligations or restrictions under 35 USC §200-212 and 37 CFR 401; 

9.2.10 except as set forth in Appendix 1, BMS and its Affiliates do not own or control any other Patent Rights that are necessary or,
to BMS’s Knowledge as of the Effective Date, reasonably useful to carry out the Development of Licensed Compounds and/or Licensed Products as contemplated by the Development Plan attached as Appendix 2 hereto; 

  
 30 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

9.2.11 subject to Section 3.1.2, to BMS’ Knowledge, the documents, data and information that are included in the BMS Know-How transferred to Company pursuant to Section 3.1 constitute all of the Know-How owned or Controlled by BMS that is reasonably necessary or useful for the
Development or manufacture of the Licensed Compounds in accordance with the terms of this Agreement; 
 9.2.12 to BMS’ Knowledge, the
BMS Patent Rights and BMS Know-How and the exercise of Company’s rights in connection therewith as contemplated by this Agreement, and the Licensed Compounds and Licensed Products as contemplated by this
Agreement, including the use of the Licensed Compounds and Licensed Products by BMS prior to the Effective Date, did not and do not infringe, violate or misappropriate the intellectual property rights of any Third Party; and 

9.2.13 to BMS’ Knowledge, BMS is not conducting any clinical Development of a Competitive Compound and is not actively exchanging written
term sheets or draft agreements with a Third Party to in-license a Competitive Compound. 
 9.3
Representations and Warranties of Company. Company represents, warrants and covenants that 
 9.3.1 it shall not engage in any
activities that use the BMS Patent Rights and/or BMS Know-How in a manner that is outside the scope of the license rights granted to it hereunder; 

9.3.2 all of its activities related to its use of the BMS Patent Rights and BMS Know-How, and the
research, Development and Commercialization of the Licensed Compounds and/or Licensed Products, pursuant to this Agreement shall comply with all applicable Law; 

9.3.3 prior to filing the first drug application (i.e., an NDA or its foreign equivalent) for a Licensed Product, Company to its knowledge
shall have all licenses that are necessary in order for the manufacture, use or sale of such Licensed Product not to infringe the intellectual property of any Third Party known to Company as of such date, but excluding licenses applicable to any
Third Party issued patents for which Company shall have obtained a well-reasoned, written opinion of an outside patent attorney that Company’s activities under the scope of this Agreement are not
reasonably likely to infringe any Valid Claim of such Third Party issued patent; and 
 9.3.4 it has sufficient resources, including without
limitation, qualified personnel and contractors with the requisite skill and expertise, to Develop and Commercialize the Licensed Compounds and Licensed Products in accordance with the terms of this Agreement. 

9.4 DISCLAIMER. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND,
EITHER EXPRESS OR IMPLIED, INCLUDING ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR 

  
 31 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 PURPOSE WITH RESPECT
TO ANY LICENSED COMPOUNDS, LICENSED PRODUCTS, TRANSFERRED MATERIALS, THE BMS PATENT RIGHTS OR BMS KNOW-HOW OR ANY RIGHT OR LICENSE GRANTED BY BMS HEREUNDER, AND NOTHING IN THIS AGREEMENT SHALL BE CONSTRUED AS
A REPRESENTATION OR WARRANTY BY BMS THAT ANY PATENT OR OTHER PROPRIETARY RIGHTS INCLUDED IN THE BMS PATENT RIGHTS ARE VALID OR ENFORCEABLE OR THAT USE OF THE BMS PATENT RIGHTS, BMS KNOW-HOW AND TRANSFERRED
MATERIALS CONTEMPLATED HEREUNDER DOES NOT INFRINGE ANY PATENT RIGHTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF ANY THIRD PARTY. 
 9.5
Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NEITHER PARTY SHALL BE LIABLE TO THE OTHER WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT, WHETHER UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY OR
OTHER LEGAL OR EQUITABLE THEORY, FOR ANY INCIDENTAL, INDIRECT, SPECIAL, EXEMPLARY, PUNITIVE, MULTIPLE, OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOST PROFITS, LOSS OF USE, DAMAGE TO GOODWILL, OR LOSS OF BUSINESS); PROVIDED,
HOWEVER, THAT THE FOREGOING SHALL NOT APPLY TO ANY BREACH BY A PARTY OF ARTICLE 11 HEREOF, TO A BREACH BY COMPANY OF SECTION 5.6, THE WILLFUL BREACH, WILLFUL MISCONDUCT, OR GROSS NEGLIGENCE BY A PARTY, OR FOR AMOUNTS SOUGHT BY THIRD PARTIES
IN CLAIMS THAT ARE SUBJECT TO THE PARTIES’ RESPECTIVE INDEMNITY OBLIGATIONS UNDER ARTICLE 12. EXCEPT FOR AMOUNTS SOUGHT BY THIRD PARTIES IN CLAIMS THAT ARE SUBJECT TO BMS’ INDEMNITY OBLIGATIONS UNDER ARTICLE 12, BMS SHALL NOT BE LIABLE FOR
ANY DAMAGES OF ANY KIND (INCLUDING DIRECT DAMAGES) IN AN AMOUNT GREATER THAN [***]. FOR THE AVOIDANCE OF DOUBT, THE FOREGOING LIMITATION SHALL NOT APPLY TO OR LIMIT ANY INFRINGEMENT CLAIM BROUGHT BY A PARTY UNDER THE PATENT LAWS OF ANY
COUNTRY. 
 ARTICLE 10 

PATENT MAINTENANCE; INFRINGEMENT; PATENT 

EXTENSIONS 
 10.1
Inventions. Inventorship of inventions conceived or reduced to practice in the course of research and other Development activities under this Agreement shall be determined by application of United States patent Laws pertaining to
inventorship. If such inventions are jointly invented in the course of such Development activities by one or more employees or consultants or contractors of both Parties, such inventions shall be jointly owned (“Joint Invention”),
and if one or more claims included in an issued patent or pending patent application which is filed in a patent office in the Territory claim such Joint Invention, such patent or patent application shall be jointly owned (“Joint Patent
Rights”) provided that, BMS’ interest in any Joint Patent Rights shall be deemed to be and included within the BMS Patent Rights. If such an invention is solely invented by an employee or consultant of a Party, such invention
shall be solely owned by such Party, and any patent filed claiming such solely owned invention shall also be solely owned by such Party, 

  
 32 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 provided
that, any such patent filed claiming an invention solely invented by an employee or consultant of BMS shall be deemed to be and included within the BMS Patent Rights. This Agreement shall be understood to be a joint research agreement in
accordance with 35 U.S.C. § 103(c), as amended, to develop the Licensed Compounds and/or Licensed Products. Each Party shall enter into binding agreements obligating all employees and consultants performing activities under or contemplated
by this Agreement, including activities related to the BMS Patent Rights, Licensed Compounds or Licensed Products, to assign his/her interest in any invention conceived or reduced to practice in the course of such activities to the Party for which
such employee or consultant is providing its services. With respect to contractors, Company shall use good faith and reasonable efforts to secure an agreement from such contractor to assign or license (with the right to sublicense) to Company
inventions (and patent rights covering such inventions) made by such contractor in performing such services for Company. 
 10.2 Filing,
Prosecution and Maintenance of BMS Patent Rights. Company will have lead responsibility, using outside patent counsel selected by Company (such determination and outside patent selection to be subject to BMS’ approval, such approval not to
be unreasonably withheld, delayed or conditioned), for the preparation, prosecution (including any interferences, reissue proceedings and reexaminations) and maintenance of the BMS Patent Rights (including the Joint Patent Rights). Company shall be
responsible for the costs incurred with respect to the filing, prosecution and maintenance of the BMS Patent Rights. Company shall provide BMS with [***] updates of the filing, prosecution and maintenance status for each of the BMS Patent
Rights, and shall within a reasonable period of time, but at least [***] days prior to the deadline to respond (and earlier if practicable) provide copies of any material and/or substantive official correspondence to or from patent offices.
The Parties shall reasonably consult with and cooperate with respect to the preparation, prosecution, defense and maintenance of the BMS Patent Rights, including by providing assistance as described in Section 3.2, and will confer regarding
where to prosecute the BMS Patent Rights. Company shall not take any action during prosecution and maintenance of the BMS Patent Rights that would materially adversely affect them (including reduction in claims scope), without BMS’ prior
express written consent (which consent shall be considered to be given if Company notifies BMS of proposed claim amendments or cancellations and BMS fails to object within [***] days of such notification). BMS shall not take any action with
respect to any BMS Patent Rights while Company is responsible for the prosecution and maintenance of such BMS Patent Rights, that would adversely affect such BMS Patent Rights (including express abandonment thereof), without Company’s prior
express written consent. Company may file a notice with governmental patent offices of the exclusive license to the BMS Patent Rights granted to Company hereunder. Post-grant proceedings involving the BMS Patent Rights, including oppositions,
cancellations, inter partes review, and the like, shall be conducted by Company at the expense of Company, and Company shall within a reasonable period of time notify BMS of the initiation of such proceeding (or vice versa) and BMS shall
reasonably cooperate with Company in any such proceeding, and Company shall give BMS the reasonable opportunity to participate, [***], and BMS shall also participate and appear as necessary under the applicable rules governing the proceeding.
Any settlement or compromise of such post-grant proceeding shall be subject to the approval of BMS, which approval shall not be unreasonably withheld, delayed or conditioned. 

  
 33 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 10.3
Patent Abandonment. 
 10.3.1 The Parties will confer and must mutually agree before any of the BMS Patent Rights may be abandoned in
any Major Market Country; provided that BMS shall not unreasonably withhold, delay or condition its consent to a request by Company to abandon a BMS Patent Right if such abandonment will not adversely affect the amount or duration of any
royalty payable to BMS hereunder. Company shall provide BMS with notice of the allowance and expected issuance date of any patent within the BMS Patent Rights, or any of the deadline for filing a new patent application, and BMS shall provide Company
with prompt notice as to whether BMS desires Company to file such new patent application. 
 10.3.2 Subject to Section 10.3.1, in the
event that Company decides either (a) not to continue the prosecution or maintenance of a patent application or patent within the BMS Patent Rights in any country, or (b) not to file any new patent application requested to be filed by BMS,
Company shall provide BMS with express written notice of this decision at least [***] days prior to any pending lapse or abandonment thereof, or if a decision not to continue prosecution or maintenance is responsive to an official
communication from governmental agency that is received by Company less than [***] days prior to a deadline for taking action in response thereto, then the deadline for giving such notice to BMS shall be [***]% of the time remaining
for response after such communication is received by Company. In such event, provided that the Parties have not expressly agreed to abandon a patent or not file a patent application under Section 10.3.1, then Company shall provide BMS
with an opportunity to assume responsibility for all external costs reasonably associated with the filing and/or further prosecution and maintenance of such patent application and any patent issuing thereon (such filing to occur prior to the
issuance of the patent to which the application claims priority or expiration of the applicable filing deadline, as set forth above). In the event that BMS assumes such responsibility for such filing, prosecution and maintenance costs, Company shall
transfer the responsibility for such filing, prosecution and maintenance of such patent applications and patents to BMS and, except with respect to any Joint Patent Rights in which Company will retain its joint ownership interest as set forth in
Section 10.1, Company shall no longer have any right or license in and to such patent application and patents issuing therefrom under this Agreement. In such case, Company shall provide BMS with an update of the filing, prosecution and
maintenance status for each of such patent applications and patents, including copies of any material official correspondence to or from patent offices. Company shall reasonably consult with and cooperate with BMS with respect to the preparation,
prosecution and maintenance of such patent applications and patents. Company shall not take any action during prosecution and maintenance of the BMS Patent Rights that would materially adversely affect them, without BMS’ prior express written
consent, such consent not to be unreasonably withheld, delayed or conditioned if such action will not adversely affect the amount or duration of any royalty payable to BMS, and which consent shall be considered to be given if Company notifies BMS of
proposed claim amendments or cancellations and BMS fails to object within [***] days of such notification. 
 10.4 Enforcement of
BMS Patent Rights against Infringers. 
 10.4.1 Enforcement by Company. In the event that BMS or Company becomes aware of a
suspected infringement of any BMS Patent Right in the Field, including actual or alleged infringement under 35 USC §271(e)(2) that is or would be infringing activity involving the using, making, importing, offering for sale or selling of
articles that the Party reasonably 

  
 34 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 believes infringes
any of the Patent Rights conferred under this Agreement, such Party shall within a reasonable period of time notify the other Party , including all information available to such Party with respect to such alleged infringement, and following such
notification, the Parties shall confer. Company shall have the first right, but shall not be obligated, to bring an infringement action for suspected infringement in the Field at its own expense, in its own name and entirely under its own direction
and control, subject to the following: (a) BMS shall reasonably assist Company (at Company’s expense) in any action or proceeding being prosecuted for suspected infringement in the Field if so requested, including by being named or joined
as a plaintiff to such actions or proceedings if requested by Company or required by Law, (b) BMS shall have the right to participate and be represented in any such suit by its own counsel [***] provided that Company shall
continue to direct and control such actions or proceedings, (c) no settlement of any such action or proceeding which restricts the scope, or adversely affects the enforceability, of a BMS Patent Right in the Field may be entered into by Company
without the prior written consent of BMS, which consent shall not be unreasonably withheld, delayed or conditioned, and further, no settlement of any such action or proceeding which pertains to the infringement of the BMS Patent Rights by virtue of
the Development or Commercialization of a Licensed Compound in the Field by a Third Party that is not a Sublicensee may be entered into by Company without the prior written consent of BMS, which consent shall not be unreasonably withheld, delayed or
conditioned. 
 10.4.2 Timing; Enforcement by BMS. Company will have a period of [***] days after its receipt or delivery of
notice and evidence pursuant to Section 10.4.1 or receipt of written notice from a Third Party that reasonably evidences such infringement of the BMS Patent Rights, to elect to so enforce such BMS Patent Rights in the applicable jurisdiction
(or to settle or otherwise secure the abatement of such infringement in accordance with Section 10.4.1), provided however, that such period will be (i) more than [***] days to the extent applicable Law prevents earlier
enforcement of such BMS Patent Right (such as the enforcement process set forth in or under the Hatch-Waxman Act), and provided further that if such period is extended because applicable Law prevents earlier enforcement, Company shall
have until the date that is [***] days following the date upon which applicable Law first permits such proceeding, and (ii) less than [***] days to the extent that a delay in bringing such proceeding against such alleged Third
Party infringer would limit or compromise the remedies (including monetary relief, and stay of regulatory approval) available against such alleged Third Party infringer. In the event Company does not so elect (or settle or otherwise secure the
abatement of such infringement) before the first to occur of (A) the expiration of the applicable period of time set forth in the preceding subsections (i) and (ii), or (B) [***] days before the expiration of any time period under
applicable Law, that would, if a proceeding was not filed within such time period, limit or compromise the remedies available from such proceeding, it will so notify BMS in writing and in the case where BMS then desires to commence a suit or take
action to enforce the applicable BMS Patent Right in the applicable jurisdiction, BMS will thereafter have the right to commence such a suit or take such action to enforce the applicable BMS Patent Right, as applicable, [***], provided
that BMS shall first consult with Company concerning the reasons Company elected not to bring such action and shall consider those reasons in good faith in deciding whether to bring such action. Company shall reasonably assist BMS ([***]) in
any action or proceeding being prosecuted if so requested, including by being named or joined as a plaintiff to such actions or proceedings if requested by BMS or required by Law. Company shall have the right to participate and be represented in any
such suit by its own counsel [***]. No settlement of any such action or proceeding which restricts the scope, or adversely affects the enforceability, of a BMS Patent Right may be entered into by BMS without the prior written consent of
Company, which consent shall not be unreasonably withheld, delayed or conditioned. 

  
 35 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

10.4.3 Withdrawal. If either Party brings an action or proceeding under this Section 10.4 and subsequently ceases to pursue or
withdraws from such action or proceeding, it shall within a reasonable period of time notify the other Party and the other Party may substitute itself for the withdrawing Party under the terms of this Section 10.4. 

10.4.4 Damages. In the event that either Party exercises the rights conferred in this Section 10.4 and recovers any damages or
other sums in such action, suit or proceeding or in settlement thereof, such damages or other sums recovered shall [***]. 
 10.5
Infringement of Third Party Rights 
 10.5.1 The Parties will within a reasonable period of time notify each other of any allegation
that any activity under this Agreement infringes or may infringe the intellectual property rights of any Third Party. 
 10.5.2 In any legal
allegation related to the infringement of a Third Party intellectual property right, Company will have the first right to control, at its expense, the defense of such allegation. BMS will have the right, [***] and with its own choice of
counsel, to be represented in the defense of the allegation. 
 10.5.3 The Parties will reasonably cooperate with each other in all respects
with all matters related to the defense of any legal allegation under this section. 
 10.6 Patent Extensions. BMS and Company shall
each reasonably cooperate with one another and shall use Commercially Reasonable Efforts in obtaining patent term extension (including any pediatric exclusivity extensions as may be available) or supplemental protection certificates or their
equivalents in any country with respect to Patent Rights covering the Licensed Products. If elections with respect to obtaining such patent term extensions are to be made, Company shall have the right, [***], to make the election to seek
patent term extension or supplemental protection with respect to the Patent Right for which such extension or supplemental protection should be sought, provided that Company shall use Commercially Reasonable Efforts to make such election so
as to maximize the period of marketing exclusivity for the Licensed Product. For such purpose, for all Approvals Company shall provide BMS with written notice of any expected Approval at least [***] days prior to the expected date of
Approval, as well as notice within [***] Business Days following receipt of each Approval confirming the date of such Approval. Notification of the receipt of an Approval shall be in accordance with Section 15.2 except that the
notification shall be sent to: 
 Bristol-Myers Squibb Company 

P.O. Box 4000 
 Route 206 &
Province Line Road 
 Princeton, New Jersey 08543-4000 

Attention: Vice President and Chief Patent Counsel 

Telephone: [***] 

Facsimile: [***] 

  
 36 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 10.7
Data Exclusivity and Orange Book Listings. With respect to data exclusivity periods (including any available pediatric extensions) or periods under national implementations of Article 10.1 of Directive 2001/EC/83 (and all international
equivalents), Company shall use Commercially Reasonable Efforts consistent with its obligations under applicable Law to seek, maintain and enforce all such data exclusivity periods available for the Licensed Products. With respect to patent listing
filings in any FDA Orange Book (and equivalents) for issued patents for a Licensed Product, Company shall, consistent with its obligations under applicable Law, list in a timely manner and maintain all applicable BMS Patent Rights. At least
[***] days prior to an anticipated deadline for the filing of patent listing information for BMS Patent Rights, Company shall consult with BMS regarding the content of such filing, and shall consider BMS’s comments in good faith,
provided that Company shall have the final decision right with respect to such filing, including the Patent Rights to be listed in any FDA Orange Book or equivalent. BMS shall provide, consistent with its obligations under applicable Law,
reasonable cooperation to Company in filing and maintaining such Orange Book (and foreign equivalent) listings. 
 10.8 Notification of
Patent Certification. Company shall notify and provide BMS with copies of any allegations of alleged patent invalidity, unenforceability or non-infringement of a BMS Patent Right pursuant to a Paragraph IV
Patent Certification by a Third Party filing an Abbreviated New Drug Application, an application under §505(b)(2) or other similar patent certification by a Third Party, and any foreign equivalent thereof. Such notification and copies shall be
provided to BMS within [***] days after Company receives such certification, and shall be sent to the address set forth in Section 10.4. Notwithstanding the foregoing, any such Paragraph IV Patent Certification shall be deemed to be an
act of infringement hereunder of the BMS Patent Rights by a Third Party in the Field subject to the enforcement provisions of Section 10.4. 

10.9 No Conflict Actions. BMS shall not be required to take any action pursuant to Sections 10.4, 10.7 or 10.8 that BMS reasonably
determines in its sole judgment and discretion conflicts with or violates any court or government order or decree that BMS is then subject to or otherwise may create legal liability on the part of BMS. 

10.10 Assignment of BMS Patent Rights. Notwithstanding any provision in this Agreement to the contrary, BMS shall have the right to
transfer or assign ownership of any BMS Patent Rights as long as any such transfer or assignment is made expressly subject to the rights and licenses granted to Company under this Agreement and the transferee or assignee of the transferred or
assigned BMS Patent Rights agrees in writing to prepare, prosecute, enforce and maintain such BMS Patent Rights in accordance with the terms of this ARTICLE 10. 

  
 37 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

ARTICLE 11 
 NONDISCLOSURE
OF CONFIDENTIAL INFORMATION 
 11.1 Nondisclosure. Each Party agrees that, for so long as this Agreement is in effect and for a
period of [***] years thereafter, a Party receiving Confidential Information of the other Party (or that has received any such Confidential Information from the other Party prior to the Effective Date) shall (i) maintain in confidence
such Confidential Information using not less than the efforts such Party uses to maintain in confidence its own proprietary industrial information of similar kind and value, (ii) not disclose such Confidential Information to any Third Party
without the prior written consent of the other Party, except for disclosures expressly permitted below, and (iii) not use such Confidential Information for any purpose except those permitted by this Agreement (it being understood that this
clause (iii) shall not create or imply any rights or licenses not expressly granted under Article 2). 
 11.2 Exceptions. The
obligations in Section 11.1 shall not apply with respect to any portion of the Confidential Information that the receiving Party can show by competent proof: 

11.2.1 is publicly disclosed by the disclosing Party, either before or after it is disclosed to the receiving Party hereunder; or 

11.2.2 was known to the receiving Party or any of its Affiliates, without any obligation to keep it confidential or any restriction on its
use, prior to disclosure by the disclosing Party; or 
 11.2.3 is subsequently disclosed to the receiving Party or any of its Affiliates by
a Third Party lawfully in possession thereof and is disclosed without any obligation to keep it confidential or any restriction on its use; or 

11.2.4 is published by a Third Party or otherwise becomes publicly available or enters the public domain, either before or after it is
disclosed to the receiving Party; or 
 11.2.5 has been independently developed by employees or contractors of the receiving Party or any of
its Affiliates without the aid, application or use of Confidential Information of the disclosing Party. 
 11.3 Authorized
Disclosure. The receiving Party may disclose Confidential Information belonging to the other Party to the extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 

11.3.1 filing or prosecuting patents as set forth in this Agreement; 

11.3.2 Company’s research, Development or Commercialization (including any import, manufacture, use, offer for sale, or sale) activities,
including Company’s regulatory filings, with respect to Licensed Compounds and/or Licensed Product, including any Approvals or applications therefor; 

11.3.3 prosecuting or defending litigation in relation to the BMS Patent Rights, BMS Know How or this Agreement, including responding to a
subpoena in a Third Party litigation, provided it has used good faith and reasonable efforts to obtain a protective order for such Confidential Information; 

  
 38 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

11.3.4 subject to Section 11.4, complying with applicable Laws (including the rules and regulations of the Securities and Exchange
Commission or any national securities exchange) and with judicial process, if in the reasonable opinion of the receiving Party’s counsel, such disclosure is necessary for such compliance; provided, however, that except where
impracticable, the receiving Party shall give the disclosing Party reasonable advance notice of such disclosure requirement (which shall include a copy of any applicable subpoena or order) and shall afford the disclosing Party a reasonable
opportunity to oppose, limit or secure confidential treatment for such required disclosure, and in the event of any such required disclosure, the receiving Party shall disclose only that portion of the Confidential Information of the disclosing
Party that the receiving Party is legally required to disclose; 
 11.3.5 disclosure, in connection with the performance of this Agreement
and solely on a “need to know basis”, to Affiliates, existing or potential collaborators (including existing or potential co-marketing and co-promotion
contractors), research collaborators, employees, consultants, or agents, each of whom prior to disclosure must be bound by written obligations of confidentiality and non-use no less restrictive than the
obligations set forth in this Article 11; provided, however, that the receiving Party shall remain responsible for any failure by any Person who receives Confidential Information pursuant to this Article 11 to treat such Confidential
Information as required under this Article 11; and 
 11.3.6 made by such Party to existing or potential acquirers or merger candidates;
investment bankers; public and private sources of funding; existing or potential investors, venture capital firms or other financial institutions or investors for purposes of obtaining financing, provided that such Party has used good faith
and reasonable efforts to secure an agreement from any such Third Party to be bound by obligations of confidentiality and restrictions on use of Confidential Information that are no less restrictive than the obligations in this Agreement. 

If and whenever any Confidential Information is disclosed in accordance with this Section 11.3, such disclosure shall not cause any such
information to cease to be Confidential Information except to the extent that such disclosure results in a public disclosure of such information (otherwise than by breach of this Agreement). Where reasonably possible and subject to
Section 11.4, the receiving Party shall notify the disclosing Party of the receiving Party’s intent to make such disclosure pursuant to this Section 11.3 sufficiently prior to making such disclosure so as to allow the disclosing Party
adequate time to take whatever action it may deem appropriate to protect the confidentiality of the information. 
 11.4 Terms of this
Agreement. The Parties acknowledge that the terms of this Agreement shall be treated as Confidential Information of both Parties. For the avoidance of doubt, this Section 11.4 shall in no way prevent a Party from disclosing the existence of
this Agreement or any terms of this Agreement in order to seek legal advice whenever deemed appropriate by such Party or to enforce such Party’s rights under this Agreement, whether through arbitral proceedings, court proceedings or otherwise,
or to defend itself against allegations or claims relating to this Agreement, or to comply with Applicable Law (except as provided in Section 11.5 below) when advised in a written opinion of outside counsel that terms of the Agreement are
required to be disclosed to comply with Applicable Law. 
 11.5 Securities Filings. Notwithstanding anything to the contrary in this
Agreement, in the event either Party proposes to file with the Securities and Exchange Commission or the securities regulators of any state or other jurisdiction a registration statement or any other disclosure document which describes or refers to
this Agreement under the Securities Act of 1933, 

  
 39 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 as amended, the
Securities Exchange Act, of 1934, as amended, any other applicable securities Law or the rules of any national securities exchange, the Party shall notify the other Party of such intention and shall use reasonable efforts to provide such other Party
with a copy of relevant portions of the proposed filing not less than [***] business days prior to (but in no event later than [***] business days prior to) such filing (and any revisions to such portions of the proposed filing a
reasonable time prior to the filing thereof), including any exhibits thereto relating to this Agreement, and shall use reasonable efforts to obtain confidential treatment of any information concerning this Agreement that such other Party requests be
kept confidential, and shall only disclose Confidential Information which it is advised by counsel is legally required to be disclosed. No such notice shall be required under this Section 11.5 if the substance of the description of or reference
to this Agreement contained in the proposed filing has been included in any previous filing made by the either Party hereunder or otherwise approved by the other Party. 

11.6 Publication by Company. Company may publish or present data and/or results relating to a Licensed Compound or Licensed Product
developed in the Field in scientific journals and/or at scientific conferences, provided that Company shall notify BMS at least [***] days in advance of the intended submission for publication or presentation of any proposed abstract,
manuscript or presentation which discloses Confidential Information of BMS or discloses a patentable invention by delivering a copy thereof to BMS. BMS shall have [***] days from its receipt of any such abstract, manuscript or presentation in
which to notify Company in writing of any specific, reasonable objections to the disclosure, based on concern regarding the specific disclosure of Confidential Information of BMS, and Company will delete any BMS Confidential Information, and
consider any other such objections in good faith, including whether it is necessary or advisable to delete any other information from such proposed publication. Once any such abstract or manuscript is accepted for publication, Company shall provide
BMS with a copy of the final version of the manuscript or abstract. 
 ARTICLE 12 

INDEMNITY 
 12.1 Company
Indemnity. Company shall indemnify, defend and hold harmless BMS and its Affiliates, and their respective officers, directors, employees, agents, licensors, and their respective successors, heirs and assigns and representatives, from and against
any and all damages, liabilities, losses, costs and expenses (including reasonable legal expenses, costs of litigation and reasonable attorney’s fees) arising in connection with any claims, suits, proceedings, whether for money damages or
equitable relief, of any kind brought by any Third Party (collectively “Losses and Claims”) and arising out of or relating to (a) the research, Development, Commercialization (including promotion, advertising, offering for
sale, sale or other disposition), transfer, importation or exportation, manufacture, labeling, handling or storage, or use of, or exposure to, any Licensed Compound or any Licensed Product by or for Company or any of its Affiliates, Distributors,
Sublicensees, agents and contractors, including claims and threatened claims based on product liability, bodily injury, risk of bodily injury, death or property damage, infringement or misappropriation of Third Party patents, copyrights, trademarks
or other intellectual property rights (except to the extent such infringement or misappropriation results from a breach of Section 9.2), or the failure to comply with applicable Law related to the matters referred to in this

  
 40 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 subsection
(a) with respect to any Licensed Compound or any Licensed Product, (b) the prosecution, maintenance, enforcement and defense of the BMS Patents by Company, its Affiliates, Sublicensees, representatives and agents; and/or (c) the gross
negligence, recklessness or willful misconduct of Company or its Affiliates or its or their respective directors, officers, employees and agents, in connection with Company’s performance of its obligations or exercise of its rights under this
Agreement; except in any such case for Losses and Claims to the extent reasonably attributable to any material breach by BMS of Article 11, or BMS having committed an act or acts of gross negligence, recklessness or willful misconduct, or to
the extent BMS has an indemnification obligation to Company pursuant to Section 12.2. 
 12.2 BMS Indemnity. BMS shall
indemnify, defend and hold harmless Company and its Affiliates, and their respective officers, directors, employees, agents, licensors, and their respective successors, heirs and assigns and representatives, from and against any and all Losses
payable to a Third Party based on Claims brought by a Third Party arising out of or relating to (a) a material breach by BMS of Article 11 or the representations, warranties and covenants of BMS set forth in Section 4.1 and/or Article 9,
(b) the gross negligence, recklessness or willful misconduct of BMS or its Affiliates or its or their respective directors, officers, employees and agents, in connection with BMS’s performance of its obligations or exercise of its rights under
this Agreement, (c) personal injury arising out of the conduct by BMS of Clinical Trials for the Licensed Compound prior to the Effective Date, and/or (d) any Development, use, manufacture, or Commercialization of BMS Reversion Products by
BMS following the reversion thereof to BMS pursuant to Section 13.4 in the Territory, including claims and threatened claims based on product liability, bodily injury, risk of bodily injury, death or property damage, infringement or
misappropriation of Third Party patents, copyrights, trademarks or other intellectual property rights arising therefrom, or the failure to comply with applicable Law related to the matters referred to in this subsection (d) with respect to any
BMS Reversion Product; except in any such case for Losses and Claims to the extent reasonably attributable to any material breach by Company of Article 11 of this Agreement, failure of Company to comply with Applicable Law with respect to its
Development or Commercialization of the Licensed Compounds or Licensed Products, or Company having committed an act or acts of gross negligence, recklessness or willful misconduct, or to the extent Company has an indemnification obligation to BMS
pursuant to Section 12.1. 
 12.3 Indemnification Procedure. A claim to which indemnification applies under Section 12.1
shall be referred to herein as an “Indemnification Claim”. If any Person or Persons (collectively, the “Indemnitee”) intends to claim indemnification under this Article 12, the Indemnitee shall notify the Party
subject to the indemnification obligation (the “Indemnitor”) in writing no later than [***] days after becoming aware of any claim that may be an Indemnification Claim (it being understood and agreed, however, that the
failure by an Indemnitee to give such notice shall not relieve Indemnitor of its indemnification obligation under this Agreement except and only to the extent that the Indemnitor is actually prejudiced as a result of such failure to give notice).
The Indemnitor shall have the right to assume and control the defense of the Indemnification Claim at its own expense with counsel selected by the Indemnitor and reasonably acceptable to the Indemnitee, provided, however, that an Indemnitee
shall have the right to retain its own counsel, with the fees and expenses to be paid by the Indemnitee, if representation of such Indemnitee by the counsel retained by the Indemnitor would be inappropriate due to actual or potential differing
interests between such Indemnitee and any other party represented by such 

  
 41 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 counsel in such
proceedings. If the Indemnitor does not assume the defense of the Indemnification Claim as aforesaid, the Indemnitee may defend the Indemnification Claim but shall have no obligation to do so. The Indemnitee shall not settle or compromise the
Indemnification Claim without the prior written consent of the Indemnitor, and the Indemnitor shall not settle or compromise the Indemnification Claim in any manner which would have an adverse effect on the Indemnitee’s interests (including any
rights under this Agreement or the scope or enforceability of the BMS Patents Rights or BMS Know-How), without the prior written consent of the Indemnitee, which consent, in each case, shall not be
unreasonably withheld, delayed or conditioned if the settlement or compromise would impose no financial or other obligations or burdens on the Indemnitee. The Indemnitee shall reasonably cooperate with the Indemnitor at the Indemnitor’s expense
and shall make available to the Indemnitor all pertinent information under the control of the Indemnitee, which information shall be subject to Article 11. 

12.4 Insurance. Company shall, beginning with the initiation of the first Clinical Trial for a Licensed Product, maintain at all times
thereafter during the term of this Agreement, and until the later of (i) [***] years after termination or expiration of this Agreement or (ii) the date that all statutes of limitation covering claims or suits that may be brought for
personal injury based on the sale or use of a Licensed Product have expired in all states in the U.S., insurance relating to the Licensed Product from a recognized, creditworthy insurance company, on a claims-made basis, with endorsements for
contractual liability and for clinical trial and product liability, that is comparable in type and amount to the insurance customarily maintained by Company with respect to similar prescription pharmaceutical products that are marketed, distributed
and sold in the Territory; provided that if Company does not market, distribute and sell any such similar pharmaceutical products, such insurance shall be comparable in type and amount to the insurance customarily maintained by a company
within the bio-pharmaceutical industry. Company shall name BMS as an additional insured on all related insurance policies. Within [***] days following the initiation of the first Clinical Trial for a
Licensed Product, and within [***] days following any material change or cancellation in coverage, Company shall furnish to BMS a certificate of insurance evidencing such coverage as of such date, and in the case of cancellation, provide a
certificate evidencing that Company’s replacement coverage meets the requirements in the first sentence of this Section 12.4. The foregoing insurance requirement shall not be construed to create a limit on the Company’s liability
hereunder. 
 ARTICLE 13 

TERM AND TERMINATION 
 13.1
Term. This Agreement shall commence as of the Effective Date and, unless sooner terminated in accordance with the terms hereof or by mutual written consent, shall expire on a
country-by-country basis and Licensed Product-by-Licensed Product basis, upon the
expiration of the Royalty Term with respect to a given Licensed Product in the applicable country. 

  
 42 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 13.2
Termination by BMS. BMS shall have the right to terminate this Agreement, at BMS’ sole discretion, as follows: 
 13.2.1
Insolvency. To the extent permitted under applicable Laws, BMS shall have the right to terminate this Agreement in its entirety, at BMS’ sole discretion, upon delivery of written notice to Company upon the filing by Company in any court
or agency pursuant to any statute or regulation of the United States or any other jurisdiction a petition in bankruptcy or insolvency or for reorganization or similar arrangement for the benefit of creditors or for the appointment of a receiver or
trustee of Company or its assets, upon the proposal by Company of a written agreement of composition or extension of its debts, or if Company is served by a Third Party (and not by BMS) with an involuntary petition against it in any insolvency
proceeding, upon the ninety-first (91st) day after such service if such involuntary petition has not previously been stayed or dismissed, or upon the making by Company of an assignment for the benefit of its creditors. 

13.2.2 Breach. BMS shall have the right to terminate this Agreement in its entirety, at BMS’ sole discretion upon delivery of
written notice to Company in the event of any material breach by Company of this Agreement (except that this Section 13.2.2 shall not apply to any breach of Sections 5.1 or 6.1, which are covered under Section 13.2.3), provided that
such breach has not been cured within [***] after written notice is given by BMS to Company; provided, however, that if such breach relates to the failure to make a payment when due, such breach must be cured within [***]
after written notice thereof is given by BMS. Any such termination of this Agreement shall become effective at the end of the applicable cure period, unless Company has cured any such breach or default prior to the expiration of such cure period.
The cure period shall be tolled pending resolution of any bona fide dispute between the Parties as to whether any such material breach has occurred. 

13.2.3 Termination for Failure to Develop or Commercialize. BMS shall have the right to terminate this Agreement in its entirety in the
event that Company fails to fulfill its obligations to Develop Licensed Compounds and/or Licensed Products in accordance with Section 5.1, or to Commercialize Licensed Products in accordance with Section 6.1, provided that Company
has not cured such breach within [***] following written notice by BMS which notice shall be labeled as a “notice of material breach for failure to use Commercially Reasonable Efforts,” and in the case of an alleged breach of
Section 6.1, identifies the Major Market Country(ies) in which such breach has occurred. Any such termination of this Agreement shall become effective at the end of the applicable cure period, unless Company has cured any such breach or default
prior to the expiration of such cure period. The cure period shall be tolled pending resolution of any bona fide dispute between the Parties as to whether any such material breach has occurred. If there is a dispute as to whether company has
cured within the remaining cure period following such resolution, such dispute [***]. 
 13.2.4 Termination for Patent
Challenge. 
 (a) BMS shall have the right to terminate this Agreement in its entirety in the event Company (or any of its Affiliates)
challenges or knowingly supports (other than as may be necessary or reasonably required to assert a cross-claim or a counter-claim, or in response to a subpoena or court or administrative law request or order), including by providing information,
documents, and/or funding, a challenge to the validity, scope, enforceability or patentability of any of the BMS Patent Rights. BMS’s right to terminate this Agreement under this Section 13.2.4 may be exercised at any time after Company
(or any of its Affiliates) may have challenged or knowingly supports (other than in response to a subpoena or court order) a challenge to the validity, scope, enforceability or patentability of any of the BMS Patent Rights. For the avoidance of
doubt, an 

  
 43 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 action by Company or
any Affiliate in accordance with Article 10 to amend claims within a pending patent application within the BMS Patent Rights during the course of Company’s prosecution and maintenance of such pending patent application or in defense of a Third
Party proceeding, or to make a negative determination of patentability of claims of a patent application of BMS or to abandon a patent application of BMS during the course of Company’s Prosecution and Maintenance of such pending patent
application, shall not, where undertaken in accordance with Article 9 hereof, constitute a challenge under this Section 13.2.4. 
 (b)
If a Sublicensee of Company challenges the validity, scope or enforceability of or otherwise opposes any of the BMS Patent Rights under which such Sublicensee is sublicensed, then Company shall, at BMS’ election and upon written notice from
BMS, promptly terminate such Sublicense. The Company shall include within each License Agreement with each Sublicensee a right on the part of the Company to terminate such License Agreement in the event such Sublicensee challenges or knowingly
supports a Third Party in challenging (other than in response to a subpoena or court order), in a judicial or administrative proceeding, including without limitation by providing information, documents, or funding, the validity, scope or
enforceability of any of the BMS Patent Rights after grant of the patent and (ii) the Company shall exercise such right to terminate the License Agreement with a Sublicensee should such Sublicensee challenge or knowingly support a Third Party
in challenging (other than in response to a subpoena or court order) in a judicial or administrative proceeding the validity or enforceability of any of the BMS Patent Rights after grant of the patent. If Company fails to exercise such termination
right against such Sublicensee or is unable to do so because it did not include such a provision in its Sublicense, BMS may terminate this Agreement. 

13.3 Termination by Company. Company shall have the right to terminate this Agreement, at Company’s sole discretion, as follows.

 13.3.1 Convenience. Company may terminate this Agreement for any reason upon four (4) months prior written notice in the case
where Approval has not been obtained for a Licensed Product or upon eight (8) months prior written notice in the case where Approval has been obtained for a Licensed Product, such termination to be effective at the end of such notice period.

 13.3.2 Insolvency. To the extent permitted under applicable Laws, Company shall have the right to terminate this Agreement in its
entirety, at Company’s sole discretion, upon delivery of written notice to BMS upon the filing by BMS in any court or agency pursuant to any statute or regulation of the United States or any other jurisdiction a petition in bankruptcy or
insolvency or for reorganization or similar arrangement for the benefit of creditors or for the appointment of a receiver or trustee of BMS or its assets, upon the proposal by BMS of a written agreement of composition or extension of its debts, or
if BMS is served by a Third Party (and not by Company) with an involuntary petition against it in any insolvency proceeding, upon the ninety-first (91st) day after such service if such involuntary petition has not previously been stayed or
dismissed, or upon the making by BMS of an assignment for the benefit of its creditors 
 13.3.3 Breach. Company may terminate this
Agreement in the event of a material breach by BMS, provided that such breach has not been cured within [***] following written notice by Company. Any such termination of this Agreement shall become effective at the end of the
applicable cure period, unless BMS has cured any such breach or default prior to the expiration of such cure period. 

  
 44 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

13.3.4 Safety. Notwithstanding any other provision herein to the contrary, Company shall have the right to terminate this Agreement upon
written notice to BMS on a Licensed Compound-by-Licensed Compound and/or Licensed
Product-by-Licensed Product basis in the event that Company reasonably determines, based upon scientific data, that there are safety and public health issues relating to
the Licensed Compound and/or Licensed Product that are not expected or are at a level not expected based on available data and/or in the Approval, such that the medical benefit/risk ratio of such Licensed Compound and/or Licensed Product is
sufficiently unfavorable as to materially compromise the welfare of patients to Develop or Commercialize or to continue to Develop or Commercialize the Licensed Compound and/or Licensed Product and Company determines in that such safety issue cannot
be ethically addressed by a change to the Summary of Medical Product Characteristics of the Approval (“Safety Reasons”). Upon such termination for Safety Reasons, Company shall be responsible, at its expense, for the wind-down of
any Development of applicable Licensed Product (including any Clinical Trials for the applicable Licensed Product being conducted by or on behalf of Company) and any Commercialization activities for applicable Licensed Product. Such termination
shall become effective upon the date that Company notifies BMS in writing that such wind-down is complete. 
 13.4 Effect of
Termination. Upon termination of this Agreement in its entirety by BMS under Section 13.2 or by Company under Section 13.3.1: 

13.4.1 All rights and licenses granted to Company in Article 2 shall terminate, all rights of Company under the BMS Patent Rights and BMS Know-How shall revert to BMS, and Company and its Affiliates shall cease all use of the BMS Patent Rights, the BMS Know-How and the Transferred Materials, and shall return to
BMS all unused portions of the Transferred Materials, [***]. Following the effective date of such termination, all Licensed Compounds and/or Licensed Products shall thereafter be deemed “BMS Reversion Products”. 

13.4.2 With respect to all regulatory filings (including all INDs and NDAs) and Approvals and all other regulatory documents necessary to
further Develop and Commercialize the BMS Reversion Products, as they exist as of the date of such termination (and all of Company’s right, title and interest therein and thereto), BMS shall determine in its sole discretion subject to
applicable Laws which of these shall be (i) assigned to BMS, and Company shall provide to BMS one (1) copy of the applicable documents and filings, all documents and filings contained in or referenced in any such filings, together with the
raw and summarized data for any preclinical studies and Clinical Trials of the Licensed Products as well as any final documentation to inactivate any open INDs as BMS may elect to inactivate, [***], and preparing such items in connection with
such transfer, or (ii) withdrawn or inactivated [***]. For clarity, BMS shall have the right to use the foregoing material information, materials and data developed by Company solely in connection with BMS’ development, manufacture
and commercialization of BMS Reversion Products. BMS shall have the right to obtain specific performance of Company’s obligations referenced in this Section 13.4.2 and/or solely in the event of failure to obtain such assignment referenced
in this Section 13.4.2, Company hereby consents and grants to BMS the right to access and reference (without any further action required on the part of Company, whose authorization to file this consent with any Regulatory Authority is hereby
granted) any and all such regulatory filings 

  
 45 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 relating to the BMS
Reversion Products for any regulatory or other use or purpose in the Territory. Without limiting the foregoing in this paragraph, to the extent applicable, Company’s obligations under the previous sentence shall continue with respect to all
countries in the Territory for which there is a failure to obtain assignment of all regulatory filings and Approvals. 
 13.4.3 All amounts
due or payable to BMS that were accrued prior to the effective date of termination shall remain due and payable; but (except as otherwise expressly provided herein) no additional amounts shall be payable based on events occurring after the effective
date of termination; provided, that the foregoing shall not be deemed to limit Company’s indemnification obligations under this Agreement for acts or omissions incurring prior to the termination date that are the subject of such
indemnification even if the indemnification amount cannot be accrued or determined as of the termination date. 
 13.4.4 BMS shall have the
right to retain all amounts previously paid to BMS by Company. 
 13.4.5 Should Company have any inventory of any Licensed Compound included
in the BMS Reversion Products suitable for use in clinical trials, Company shall offer to sell such Licensed Compound to BMS [***] (but BMS shall be under no obligation to purchase same unless it agrees to do so in writing at such time). Any
such Licensed Compound that are cGMP (the “Reversion cGMP Clinical Materials”) shall be accompanied by a certificate of analysis, certificate of manufacturing, batch records and other such documentation, information materials as may
be required under Applicable Law to enable use of such Reversion cGMP Clinical Material in human Clinical Trials, including written certification that such Reversion cGMP Clinical Materials were both (a) manufactured, and (b) stored and
handled at all times following such manufacture, in accordance with cGMP. Except as set forth in the previous sentence, Company makes no other representations or warranties, express or implied, as to any inventory of Licensed Compound sold to BMS
pursuant to this Section 13.4.5, including any warranty as to merchantability or fitness for a particular use or purpose. 

13.4.6 Should Company have any inventory of any Licensed Product included in the BMS Reversion Products approved and allocated prior to
termination, Company shall have [***] thereafter in which to dispose of such inventory (subject to the payment to BMS of any royalties due hereunder thereon) (the “Inventory Disposal Period”), provided however,
that (i) such right shall terminate at such time that BMS purchases all remaining stocks of inventory of such BMS Reversion Product as described in this Section 13.4.6, below, and (ii) such Licensed Product shall [***] provided
to such purchaser for the Licensed Product in the applicable country during the [***] preceding such termination and, in addition, such sales [***] preceding such termination. Notwithstanding the foregoing, if BMS takes over
responsibility for sale of the BMS Reversion Products in any country in the Territory prior to the end of the Inventory Disposal Period, BMS shall be required to purchase all remaining stocks of saleable inventory that meets BMS specifications and
return policies of such BMS Reversion Product [***]. Any such Licensed Compound that are cGMP (the “Reversion cGMP Commercial Materials”) shall be accompanied by a certificate of analysis, certificate of manufacturing, batch
records and other such documentation, information materials as may be required under Applicable Law to enable sale of such Reversion cGMP Commercial Material, including written certification that such Reversion cGMP Commercial Materials were both
(a) manufactured, and (b) stored and handled at all times 

  
 46 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 following such
manufacture, in accordance with cGMP. Except as set forth in the previous sentence, Company makes no other representations or warranties, express or implied, as to any inventory of Licensed Compound sold to BMS pursuant to this
Section 13.4.6, including any warranty as to merchantability or fitness for a particular use or purpose. 
 13.4.7
Company shall use Commercially Reasonable Efforts to provide to BMS the tangible embodiments of all Know-How owned or Controlled by Company and its Affiliates to the extent necessary for the Development and
Commercialization of the BMS Reversion Products in existence as of the date of such termination, [***], and preparing and making such items in connection with such transfer (without duplicating any amounts reimbursed pursuant to Sections
13.4.2 and 13.4.10), including Company’s manufacturing processes, techniques and trade secrets for making such BMS Reversion Products and all Know-How specifically relating to any composition,
formulation, method of use or manufacture of such BMS Reversion Products, such Know-How including all data generated during the term of this Agreement necessary for the development and/or commercialization of
the relevant BMS Reversion Products, and BMS shall automatically have a perpetual, worldwide, transferable, sublicensable right and license under such Know-How solely for (a) researching, Developing,
using, importing, selling and offering for sale BMS Reversion Products in the Territory, which license shall be exclusive for purposes of this subpart (a), and (b) making and having made BMS Reversion Products anywhere in the Territory for use,
importation, sale and offer for sale in the Territory, which license shall be non-exclusive for purposes of this subpart (b). Company shall reasonably cooperate with BMS to assist BMS with understanding and
using the Know-How provided to BMS under this Section 13.4.7. Such cooperation shall be limited to providing BMS with up to [***] hours of reasonable access to Company personnel by teleconference
or in-person at Company’s facilities (subject to Company’s customary rules and restrictions with respect to site visits by non-Company personnel and
[***]). 
 13.4.8 To the extent that Company owns any trademark(s) and/or domain names that pertain specifically to an BMS Reversion
Product without any reference to the Company that BMS believes would be necessary for the Commercialization of a BMS Reversion Product (as then currently marketed, but not including any marks that include, in whole or part, any corporate name or
logo of Company), Company shall assign (or, if applicable, cause its Affiliate to assign) to BMS all of Company’s (and such Affiliate’s) right, title and interest in and to any such registered or unregistered trademark, trademark
application, trade name or internet domain name in each terminated country. 
 13.4.9 Company shall grant and hereby grants to BMS an
exclusive, royalty-bearing (solely to the extent set forth in Section 13.4.16), non-transferable (except as provided in Section 15.4) license, with the right
to grant sublicenses, under (a) any Patent Rights owned or Controlled by Company or its Affiliates as of the effective date of termination and (b) all Patent Rights owned or Controlled by Company or its Affiliates after the date of such
termination claiming any invention conceived or reduced to practice by or on behalf of Company during the term of this Agreement, in each case of (a) and (b) solely to the extent covering the composition of matter, use, or manufacture of BMS
Reversion Products (solely to the extent actually practiced in connection with the BMS Reversion Products as of such termination effective date) and that, in each case of (a) and (b), are necessary to Develop, manufacture or Commercialize BMS
Reversion Products solely for (i) researching, Developing, using, importing, selling and 

  
 47 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 offering for sale
BMS Reversion Products in the Territory, (ii) making and having made BMS Reversion Products anywhere in the Territory for use, importation, sale and offer for sale in the Territory. All rights in the Patent Rights owned or Controlled by Company
or its Affiliates not expressly granted to BMS under this Section 13.4.9 are reserved by Company and may be used by Company for any purpose. 

13.4.10 Company shall provide to BMS a copy of all data generated during the term of this Agreement necessary for the development and/or
commercialization of the relevant BMS Reversion Products and assign or license (or, if applicable, cause its Affiliate to assign or license) to BMS all of Company’s (and such Affiliate’s) entire right, title and interest in and to all such
data [***], and preparing and making such items in connection with such transfer ([***]). 
 13.4.11 Neither Party shall be
relieved of any obligation that accrued prior to the effective date of such termination. 
 13.4.12 Except as set forth in
Section 13.4.16, BMS shall not owe any other compensation to Company for the research, Development and Commercialization of any BMS Reversion Product in the event of any such termination of the Agreement by BMS. 

13.4.13 [***]. 
 13.4.14
It is understood and agreed that BMS shall be entitled to specific performance as a remedy to enforce the provisions of this Section 13.4, in addition to any other remedy to which it may be entitled by applicable Law. 

13.4.15 If Company has the capability in place as of the date of such termination to commercially manufacture and supply to BMS all or part of
BMS’ requirements of the applicable BMS Reversion Products for use and sale in the Territory, if BMS so elects in its sole discretion, to the extent Company is reasonably able Company shall supply to BMS for a period not to exceed [***]
(with the period of time being within the sole discretion of BMS) as much of BMS’ requirements of such BMS Reversion Products as possible for use and sale in the Territory, at a price equal to [***] (determined in accordance with GAAP)
for such BMS Reversion Products, under terms and conditions as may be mutually agreed between the Parties. In the event that Company has, prior to the date of such termination, engaged a Third Party to manufacture and supply any BMS Reversion
Products, Company shall use reasonable efforts, [***], to assist in the transfer of such supply arrangements to BMS. In the event that BMS terminates this Agreement under Section 13.2, to the extent Company is reasonably able Company
shall supply BMS’ requirements of all such BMS Reversion Products in quantities manufactured for and supplied to Company by such Third Party for a period not to exceed [***] (with the period of time being within the sole discretion of
BMS) as much of BMS’ requirements of such BMS Reversion Products as possible (not to exceed amounts needed by Company for Development and/or Commercialization by Company); provided however, if there are restrictions in the
agreement between Company and such Third Party governing the manufacture and supply of such BMS Reversion Products that would preclude the period from being up to [***], then such period shall be up to as long a time as permitted under such
agreement. Where Company has engaged a Third Party to manufacture and supply any BMS Reversion Products to Company and BMS elects to have Company supply any portion of BMS’ requirements of such BMS Reversion Products, then Company shall supply
such BMS Reversion Products at a price equal to [***]. 

  
 48 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

13.4.16 BMS shall pay Company a royalty equal to [***] of net sales of such BMS Reversion Product in the applicable terminated country
by BMS or BMS’ Affiliates, licensees or sublicensees, provided that such termination occurs any time [***]. For purposes of this Section 13.14.16, “net sales” shall be calculated in the same manner Net Sales are
defined for sales made by Company, substituting “BMS, its Affiliates and (sub)licensees” for each reference to a Related Party in such Section. 

13.4.17 Nothing in this Section 13.4 shall be deemed to limit any remedy to which either Party may be entitled by applicable Law. 

13.5 Effect of Termination by Company for Breach by BMS. Upon termination of this Agreement by Company pursuant to Section 13.3.2:

 13.5.1 All rights and licenses granted to Company in Article 2 shall terminate, all rights of Company under the BMS Patent Rights and BMS Know-How shall revert to BMS, and Company and its Affiliates shall cease all use of the BMS Patent Rights, the BMS Know-How and the Transferred Materials, and shall return to
BMS all unused portions of the Transferred Materials. 
 13.5.2 All amounts due or payable to BMS that were accrued, or that arise out of
acts or events occurring, prior to the effective date of termination or expiration shall remain due and payable; but (except as otherwise expressly provided herein) no additional amounts shall be payable based on events occurring after the effective
date of termination or expiration. 
 13.5.3 BMS shall have the right to retain all amounts previously paid to BMS by Company. 

13.5.4 Should Company have any inventory of any Licensed Product approved and allocated prior to termination for sale in a terminated country,
Company shall have [***] thereafter in which to dispose of such inventory (subject to the payment to BMS of any royalties due hereunder thereon). 

13.5.5 Neither Party shall be relieved of any obligation that accrued prior to the effective date of such termination or expiration. 

13.5.6 Nothing in this Section 13.5 shall be deemed to limit any remedy to which Company may be entitled by applicable Law. 

13.6 Effect of Expiration of this Agreement. Upon expiration of this Agreement: 

13.6.1 All amounts due or payable to BMS that were accrued, or that arise out of acts or events occurring, prior to the effective date of
expiration shall remain due and payable; but (except as otherwise expressly provided herein) no additional amounts shall be payable based on events occurring after the effective date of expiration. 

  
 49 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

13.6.2 BMS shall have the right to retain all amounts previously paid to BMS by Company. 

13.6.3 Neither Party shall be relieved of any obligation that accrued prior to the effective date of expiration. 

13.6.4 The license with respect to BMS Patent Rights and BMS Know-How granted under Section 2.1
shall convert to a non-exclusive, perpetual, irrevocable, fully paid-up license. 

13.7 Scope of Termination. Termination of this Agreement shall be as to all countries in the Territory and all Licensed Compounds and
all Licensed Products. 
 13.8 Survival. The following provisions shall survive termination or expiration of this Agreement, as well
as any other provisions which by their nature are intended to survive termination: Article 1 (as applicable), Sections 8.6 through 8.10 (for three (3) years after the end of the Calendar Year in which this Agreement was terminated),
Section 9.4, Section 9.5, Section 10.1, Section 10.4 (with respect to an action, suit or proceeding commenced prior to termination), Section 10.8, Article 11, Article 12, whichever one of Sections 13.4, 13.5, 13.6 or 13.7
applies, this Section 13.8, Section 13.10, Article 14 and Article 15. 
 13.9 Bankruptcy. The Parties agree that in the
event a Party becomes a debtor under Title 11 of the U.S. Code (“Title 11”), this Agreement shall be deemed to be, for purposes of Section 365(n) of Title 11, a license to rights to “intellectual property” as defined
therein. Each Party as a licensee hereunder shall have the rights and elections as specified in Title 11. Any agreements supplemental hereto shall be deemed to be “agreements supplementary to” this Agreement for purposes of
Section 365(n) of Title 11. 
 13.10 No Limitation of Remedies. Except as herein expressly provided, notwithstanding anything to
the contrary in this Agreement, except as otherwise set forth in this Agreement, termination or expiration of this Agreement shall not relieve the Parties of any liability or obligation which accrued hereunder prior to the effective date of such
termination or expiration nor prejudice either Party’s right to obtain performance of any obligation. Each Party shall be free, pursuant to Article 14, to seek (without restriction as to the number of times it may seek) damages, costs and
remedies that may be available under applicable Law or in equity and shall be entitled to offset the amount of any damages and costs obtained in a final determination under Article 14 of monetary damages or costs (as permitted by this Agreement)
against the other Party against any amounts otherwise due to such other Party under this Agreement. 
 ARTICLE 14 

DISPUTE RESOLUTION 
 14.1
Resolution by Senior Executives. Except as provided in Sections 8.7 and 14.3, in the event of any dispute between the Parties in connection with this Agreement, the construction hereof, or the rights, duties or liabilities of either Party
hereunder, including any disagreement as to whether there has been a material breach of this Agreement pursuant to Sections 13.2.2, 13.2.3, 

  
 50 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 or 13.3.2, the
Parties shall first attempt in good faith to resolve such dispute by negotiation and consultation between themselves. In the event that such dispute is not resolved on an informal basis within [***] Business Days, either Party may, by written
notice to the other Party, refer the dispute to (i) the Chief Executive Officer of Company and (ii) if a scientific matter, the Executive Vice President & Chief Scientific Officer of BMS or, if a commercial matter, the Chief
Commercial Officer of BMS for attempted resolution by good faith negotiation within [***] days after such notice is received; provided, however, such executive officers of Company and BMS may each designate a senior manager to
whom such dispute is delegated instead for such attempted resolution. 
 14.2 Remedies. Except as provided in Sections 8.7 and 14.3,
if any dispute between the Parties relating to or arising out this Agreement cannot be resolved in accordance with Section 14.1, each Party shall be free to pursue any or all available remedies at law or in equity, consistent with
Section 15.8. 
 14.3 Injunctive Relief. Notwithstanding anything in this Article 14, each Party shall have the right to seek
injunctive or other equitable relief from a court of competent jurisdiction pursuant to Section 15.8 that may be necessary to avoid irreparable harm, maintain the status quo or preserve the subject matter of the dispute, including any breach or
threatened breach of Article 11. 
 ARTICLE 15 

MISCELLANEOUS 
 15.1
Severability. If any one or more of the provisions of this Agreement is held to be invalid or unenforceable, the provision shall be considered severed from this Agreement and shall not serve to invalidate any remaining provisions hereof. The
Parties shall make a good faith effort to replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by the Parties when entering this Agreement with respect to such provision may be
realized. 
 15.2 Notices. Any notice required or permitted to be given by this Agreement shall be in writing and shall be delivered
by hand or overnight courier with tracking capabilities or mailed postage prepaid by first class, registered or certified mail, return receipt requested and addressed as set forth below unless changed by notice so given: 

If to Company: 
 Ayala
Pharmaceuticals, Inc 
 c/o PHS Corporate Services 

1313 N. Market Street, Suite 5100 

Wilmington, DE 19801 

  
 51 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 If
to BMS: 
 Bristol-Myers Squibb Company 

P.O. Box 4000 
 Route 206 &
Province Line Road 
 Princeton, New Jersey 08543-4000 

Attention: Vice President, Business Development 

With a copy to: 
 Bristol-Myers
Squibb Company 
 P.O. Box 4000 

Route 206 & Province Line Road 

Princeton, New Jersey 08543-4000 

Attention: Vice President & Assistant General Counsel, Business Development and Licensing 

Any such notice shall be deemed delivered on the date received. A Party may add, delete, or change the person or address to whom notices
should be sent at any time upon written notice delivered to the Party’s notices in accordance with this Section 15.2. 
 15.3
Force Majeure. Neither Party shall be liable for delay or failure in the performance of any of its obligations hereunder if such delay or failure is due to causes beyond its reasonable control, including acts of God, fires, earthquakes,
strikes and labor disputes, acts of war, terrorism, civil unrest or intervention of any governmental authority (“Force Majeure”); provided, however, that the affected Party notifies the other Party within a reasonable
period of time and further provided that the affected Party shall use Commercially Reasonable Efforts to avoid or remove such causes of non-performance and to mitigate the effect of such occurrence, and
shall continue performance with the utmost dispatch whenever such causes are removed. When such circumstances arise, the Parties shall negotiate in good faith any modifications of the terms of this Agreement that may be necessary or appropriate in
order to arrive at an equitable solution. 
 15.4 Assignment. 

15.4.1 BMS may, without Company’s consent, (x) assign, delegate or transfer some or all of its rights and obligations hereunder to
any Affiliate of BMS, and (y) assign or transfer, in connection with any transfer or assignment of all of the BMS Patent Rights and BMS Know-How, to any Third Party (including a successor in interest by
reason of merger, consolidation or sale of substantially all of the assets of BMS to which this Agreement relates). 
 15.4.2 Company may
assign or transfer all of its rights and obligations hereunder without BMS’s consent to a successor in interest by reason of merger, consolidation or sale of substantially all of the assets of Company (and so long as such assignment or transfer
includes, without limitation, all Approvals, all manufacturing assets relating to this Agreement, and all rights and obligations under this Agreement); provided, however, that such successor in interest shall have agreed prior to such
assignment or transfer to be bound by the terms of this Agreement in a writing provided to BMS. 

  
 52 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

15.4.3 Subject to the foregoing, this Agreement shall inure to the benefit of, and be binding on, the Parties’ permitted successors and
assigns. Any assignment or transfer in violation of the foregoing shall be null and void and wholly invalid, the assignee or transferee in any such assignment or transfer shall acquire no rights whatsoever, and the
non-assigning, non-transferring Party shall not recognize, nor shall it be required to recognize, such assignment or transfer. 

15.4.4 In the event that BMS assigns, delegates or otherwise transfers this Agreement, in whole or in part, to an Affiliate of BMS, BMS hereby
agrees to be jointly and severally liable with any such Affiliates for the actions of such Affiliates and for any and all amounts that become due and payable hereunder to Company. In the event that Company assigns or otherwise transfers or assigns
this Agreement to an Affiliate of Company, Company hereby agrees to be jointly and severally liable with any such Affiliates for the actions of such Affiliates and for any and all amounts that become due and payable hereunder to BMS. If Company
transfers or assigns this Agreement, and such transfer or assignment has an adverse tax consequence to BMS, then Company shall make additional payments BMS under this Agreement to provide BMS the payments that would have been due to BMS had such
transfer or assignment not occurred. For clarity, the Company shall not be responsible for the payment of capital gains taxes incurred by BMS associated with BMS’s equity ownership in Company. 

15.4.5 Notwithstanding anything to the contrary in this Agreement, in the event of any such transfer or assignment to a Third Party (including
a successor in interest by reason of merger, consolidation or sale of assets permitted), the intellectual property rights of the acquiring party (if other than one of the Parties) or the acquired party (if acquired by a Party or its Affiliates)
shall not be included in the technology licensed to the other Party hereunder to the extent (x) held by such Third Party that is acquired or is acquiring such Party prior to such transaction, or (y) such technology is developed thereafter
outside the scope of activities conducted with respect to the Licensed Compounds or Licensed Products. 
 15.5 Further Assurances.
Each Party agrees to do and perform all such further acts and things and shall execute and deliver such other agreements, certificates, instruments and documents necessary or that the other Party may deem advisable in order to carry out the intent
and accomplish the purposes of this Agreement and to evidence, perfect or otherwise confirm its rights hereunder. 
 15.6 Waivers and
Modifications. The failure of any Party to insist on the performance of any obligation hereunder shall not be deemed to be a waiver of such obligation. Waiver of any breach of any provision hereof shall not be deemed to be a waiver of any other
breach of such provision or any other provision on such occasion or any succeeding occasion. No waiver, modification, release or amendment of any obligation under or provision of this Agreement shall be valid or effective unless in writing and
signed by each of the Parties. 
 15.7 Choice of Law. This Agreement shall be governed by, enforced, and shall be construed in
accordance with the laws of the State of Delaware without regard to its conflicts of law provisions. 

  
 53 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 15.8
Jurisdiction. Each Party irrevocably submits to the exclusive jurisdiction and venue of the state and federal courts for the State of Delaware for the purposes of any suit, action, dispute, or other proceeding arising out of this Agreement or
out of any transaction contemplated hereby. Each Party irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in the state
and federal courts for the State of Delaware, and hereby and thereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been
brought in an inconvenient forum. 
 15.9 Publicity. Upon execution of this Agreement, Company may issue the press release announcing
the existence of this Agreement in the form and substance as set forth in Appendix 5. Each Party agrees not to issue any other press release or other public statement disclosing other information relating to this Agreement or the transactions
contemplated hereby without the prior written consent of the other Party, such consent not to be unreasonably withheld, delayed or conditioned, provided, however, that any disclosure which is required by Law or the rules of a
securities exchange, as reasonably advised by the disclosing Party’s outside counsel, and provided, further, that Company may from time to time issue public statements relating to the ongoing Development and/or Commercialization
of Licensed Compounds and/or Licensed Products (excluding disclosure of the financial terms of this Agreement) pursuant to this Agreement without the prior written consent of BMS. The Parties agree that any such required disclosure shall not contain
confidential business or technical information and, if disclosure of confidential business or technical information is required by Law, the Parties shall use appropriate diligent efforts to minimize such disclosure and obtain confidential treatment
for any such information which is disclosed to a governmental agency. Each Party agrees to provide to the other Party a copy of any public announcement regarding this Agreement or the subject matter thereof as soon as reasonably practicable under
the circumstances prior to its scheduled release. Except under extraordinary circumstances, each Party shall provide the other with an advance copy of any such announcement at least [***] business days prior to its scheduled release. Each
Party shall have the right to expeditiously review and recommend changes to any such announcement and, except as otherwise required by Law, the Party whose announcement has been reviewed shall remove any information the reviewing Party reasonably
deems to be inappropriate for disclosure. The contents of any announcement or similar publicity which has been reviewed and approved by the reviewing Party can be re-released by either Party without a
requirement for re-approval. 
 15.10 Relationship of the Parties. Each Party is an
independent contractor under this Agreement. Nothing contained herein is intended or is to be construed so as to constitute BMS and Company as partners, agents or joint venturers. Neither Party shall have any express or implied right or authority to
assume or create any obligations on behalf of or in the name of the other Party or to bind the other Party to any contract, agreement or undertaking with any Third Party. 

15.11 Headings. Headings and captions are for convenience only and are not be used in the interpretation of this Agreement. 

15.12 Entire Agreement. This Agreement constitutes the entire agreement between the Parties as to the subject matter of this Agreement,
and supersedes and merges all prior negotiations, representations, agreements and understandings regarding the same. 

  
 54 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

15.13 Counterparts; Electronic Delivery. This Agreement may be executed in counter-parts with
the same effect as if both Parties had signed the same document. All such counterparts shall be deemed an original, shall be construed together and shall constitute one and the same instrument. Signatures to this Agreement transmitted by email in
“portable document format” (“.pdf”), or by any other electronic means intended to preserve the original graphic and pictorial appearance of this Agreement shall have the same effect as physical delivery of the paper document
bearing original signature. 
 15.14 Performance by Affiliates. Each Party recognizes that the other Party may perform some or all of
its obligations under this Agreement through Affiliates to the extent permitted under this Agreement; provided, however, that such other Party shall remain responsible for the performance by its Affiliates as if such obligations were
performed by such other Party. 
 15.15 Exports. Company agrees not to export or re-export,
directly or indirectly, any information, technical data, the direct product of such data, samples or equipment received or generated under this Agreement in violation of any applicable export control Laws. 

15.16 Interpretation. 

15.16.1 Each of the Parties acknowledges and agrees that this Agreement has been diligently reviewed by and negotiated by and between them,
that in such negotiations each of them has been represented by competent counsel and that the final agreement contained herein, including the language whereby it has been expressed, represents the joint efforts of the Parties and their counsel.
Accordingly, in interpreting this Agreement or any provision hereof, no presumption shall apply against any Party as being responsible for the wording or drafting of this Agreement or any such provision, and ambiguities, if any, in this Agreement
shall not be construed against any Party, irrespective of which Party may be deemed to have authored the ambiguous provision. 
 15.16.2 The
definitions of the terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word
“shall”. The word “any” shall mean “any and all” unless otherwise clearly indicated by context. 
 15.16.3
Unless the context requires otherwise, (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or therein), (b) any reference to any Laws herein shall be construed as referring to such Laws as from time to time
enacted, repealed or amended, (c) any reference herein to any Person shall be construed to include the Person’s successors and assigns, (d) the words “herein”, “hereof” and “hereunder”, and words of
similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e) all references herein to Articles, Sections or Appendices, unless otherwise specifically provided, shall be construed
to refer to Articles, Sections and Appendices of this Agreement; and (f) the term “and/or” in a sentence shall be construed such that the phrase “X and/or Y” means “X or Y, or both X and Y”. 

  
 55 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

15.16.4 This Agreement should be interpreted in its entirety and the fact that certain provisions of this Agreement may be cross-referenced in
a Section shall not be deemed or construed to limit the application of other provisions of this Agreement to such Section and vice versa. 

* * * 

[SIGNATURE PAGE FOLLOWS] 

  
 56 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their respective duly authorized officers. 
  

			
	AYALA PHARMACEUTICALS, INC.

 
			
		
	By:	 	 /s/ Roni Malmuk

		 	(Signature)
		
	Name:	 	Roni Malmuk
		
	Title:	 	Director & CEO
		
	Date:	 	November 29, 2017

  

			
	By:	 	 /s/ David Sidransky

		 	 (Signature)

		
	Name:	 	David Sidransky
		
	Title:	 	Chairman of the Board of Directors
		
	Date:	 	November 29, 2017

  

			
	BRISTOL-MYERS SQUIBB COMPANY

 
			
		
	By:	 	 /s/ Arthur H. Bertelsen

		 	(Signature)
		
	Name:	 	Arthur H. Bertelsen
		
	Title:	 	VP, Research Collaborations
		
	Date:	 	29 Nov. 2017

  
 57 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 1 
 BMS Patent
Rights 
 [***] 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 2 
 Initial
Development Plan 
 [***] 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 3 
 Licensed
Compound 
 [***] 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 4 
 Transferred
Materials to be provided by BMS 
 [***] 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 5 
 Press Release

 Ayala Pharmaceuticals, founded by Israel Biotech Fund and aMoon, enters exclusive worldwide license agreement with Bristol-Myers Squibb (BMS)

 Rehovot, Israel –
                 2017 – Ayala, a biopharmaceutical company dedicated to developing targeted cancer
therapies, announced today that they have entered into an exclusive worldwide license agreement with Bristol-Myers Squibb for two gamma secretase inhibitors in development for the treatment of cancers with altered Notch genes. 

Under the terms of the license agreement, Ayala will have exclusive worldwide development and commercialization rights for
BMS-906024 and 986115, two gamma secretase inhibitors previously developed by BMS as a Notch inhibitor for oncology indications. In connection with the license, Bristol-Myers Squibb received an upfront
payment, became a shareholder of Ayala, and is eligible to receive certain development-, regulatory-, and sales-based milestones, as well as tiered annual net sales royalties. Ayala is responsible for all future development and commercialization of BMS-906024 and BMS986115. 
 Israel Biotech Fund identified the opportunity, led the due diligence and syndicated with
aMoon in 2017 to form Ayala. The new company intends to develop BMS-906024 as a precision medicine for niche orphan patient populations harboring Notch activating mutations. 

“We believe BMS-906024 is the best in class gamma secretase inhibitor” said Ayala’s Chairman of the
Board of Directors, David Sidransky, MD. “Although most Notch targeted clinical trials have traditionally recruited non-selected populations, our approach is to target patients with specific Notch
alterations whose tumors are expected to respond directly to this treatment”. Dr. Sidransky is a Co-Founder and Managing Partner of Israel Biotech Fund. He was Vice Chairman of ImClone Systems until
its acquisition by Eli Lilly and the chairman and board member of several NASDAQ listed Biotech companies. 
 “This is an exciting opportunity in
personalized therapy for Oncology, bringing new hope to cancer patients with no approved treatment options” said Roni Mamluk, PhD who joined Ayala as CEO. “We plan to initiate phase II clinical trials in 2018”. Roni Mamluk, is the
former CEO of Chiasma and a member of its board of directors. 
 “Partnering with Ayala allows for the continued development of BMS-906024 and BMS986115 and demonstrates our commitment to seeking opportunities that enable the continued development of drug candidates that might benefit certain patients,” said Tim Reilly, Vice President,
Head of Early Oncology Development at BMS. “Dr. Sidransky and Ayala are strategically positioned to focus their resources on the targeted development of these candidates for the treatment of cancers with altered Notch genes.” 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  
 About Israel
Biotech Fund 
 Israel Biotech Fund is a venture fund focused on at or near clinical stage biotechnology and pharmaceutical companies with exceptional
technologies or product opportunities. The Fund provides its portfolio companies not only with capital, but with executive talent, strategic, operational, and business development resources, enabling them to design and execute clinical development
programs efficiently and successfully. The Managing Partners are joined by a group of top-tier biotech industry experts who act as venture advisors of the Fund and its portfolio companies. 

Additional information about Israel Biotech Fund is available at www.israelbiotechfund.com. 

About aMoon 
 aMoon fund was founded in 2016 by Marius
Nacht, Co-Founder and Chairman of the Israeli cyber security giant Check Point Software, and by Dr. Yair Schindel, former CEO of the National Gov’t Bureau “Digital Israel” and former CEO of
Startup Nation Central. It is a venture capital firm operating in the Israeli healthcare and life science sector focusing on companies which offer either life-saving solutions or significant cost savings for global healthcare systems. The goal of
the fund is to turn Israel into a major contributor in global healthcare and to fuel the development of cutting edge healthcare innovations that will increase the number of individuals leading healthier, longer and more productive lives. 

About BMS-906024 

BMS-906024 is a gamma secretase inhibitor developed as a Notch inhibitor for oncology indications. Preclinical studies
have shown low nM inhibitory activity for all four Notch receptors (1-4) and robust, broad-spectrum efficacy was seen in traditional and PDX (Patient Derived Xenograft) models, including T-ALL, TNBC, NSCLC, Colorectal and Pancreatic carcinoma. In phase 1b clinical studies, given once a week by iv injection, the molecule has shown remarkable PK/PD attributes and was tolerable with manageable side
effects in 205 cancer patients. 
 Forward Looking Statements 

This press release includes forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties
and actual results could differ materially from Ayala’s current expectations. Forward-looking statements are identified by words such as “anticipates,” “projects,” “expects,” “plans,” “intends,”
“believes,” “may,” “estimates,” “targets,” “hopes,” and other similar expressions that indicate trends and future events. 

Factors that could cause Ayala’s results to differ materially from those expressed in forward-looking statements
include, without limitation, delays in receiving regulatory guidance for the development of BMS-906024, uncertainties inherent in the initiation of future clinical trials, availability of data from previous
clinical trials, satisfactory quantities of clinical drug product, availability of patients who meet the clinical trial enrollment criteria, availability of sufficient funding for foreseeable and unforeseeable operating expenses and capital
expenditure requirements, and other matters that could affect the availability or commercial potential of BMS-906024. Ayala undertakes no obligation to revise or update forward-looking statements as a result
of new information, since these statements may no longer be accurate or timely. 

  
 2 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 6 
 Documentation
to be provided 
 [***] 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

Appendix 7  
 Series A
Term Sheet 
 [***]EX-10.9

 Exhibit 10.9 

Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful
if publicly disclosed. 
 EXECUTION VERSION 

EVALUATION, OPTION AND LICENSE AGREEMENT 

This Evaluation, Option and License Agreement (the “Agreement”) is made as of December 19, 2018 (the “Effective
Date”) by and between Ayala Pharmaceuticals, Inc., a Delaware corporation, with its principal offices at c/o PHS Corporate Services, 1313 N. Market Street, Suite 5100, Wilmington, DE 19801 (“Ayala”) and Novartis
International Pharmaceutical Limited, with its principal offices at Lichtstrasse 35, CH-4056 Basel, Switzerland (“Novartis”). Ayala and Novartis are sometimes referred to herein individually
as a “Party” and collectively as the “Parties.” 
 RECITALS 

WHEREAS, each of Ayala and Novartis are in the business of discovering, developing and commercializing pharmaceutical products; 

WHEREAS, the Novartis’ Affiliate, Novartis Institutes for BioMedical Research, Inc. (“NIBRI”), and Ayala,
contemporaneously with this Agreement, are entering into a Stock Purchase Agreement and associated investment agreements, dated as of the date hereof, pursuant to which NIBRI will acquire a $10 million equity stake in Ayala (the
“SPA”); 
 WHEREAS, Ayala and its Affiliates Control (as defined below) certain intellectual property rights with respect
to the Compound (as defined below); 
 WHEREAS, Novartis wishes to have access to the Compound and certain other related materials
and related intellectual property rights in order for Novartis and its Affiliates to evaluate the Compound and its possible use in the Field (as defined below) in combination with certain proprietary Novartis pharmaceutical products, and to obtain
an option to license the Compound pursuant to and on the terms set forth in this Agreement; and 
 WHEREAS, in connection with the
foregoing, Novartis desires to obtain from Ayala, and Ayala desires to grant to Novartis, the right to access the Compound and the license option set forth herein with respect to the Compound, subject to and in accordance with the terms and
conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth below, the
Parties agree as follows: 
 ARTICLE I 

DEFINITIONS 
 For
purposes of this Agreement, the following definitions apply: 
 1.1 “Accounting Standards” means (a) with respect to
Novartis, IFRS (International Financial Reporting Standards), as generally and consistently applied throughout Novartis’ organization and (b) with respect to Ayala, U.S. GAAP, as generally and consistently applied throughout Ayala’s
organization. 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 1.2 “Acquirer” shall have the meaning given to it in
Section 12.2.2(a). 
 1.3 “Acquiring Party” shall have the meaning given to it in
Section 12.2.2(b). 
 1.4 “Acquisition Third Party” shall have the meaning given to it in
Section 12.2.2(b). 
 1.5 “Acquisition Transaction” shall have the meaning given to it in
Section 12.2.2(b). 
 1.6 “Act” shall mean the United States Food, Drug and Cosmetic Act of 1938,
as amended from time to time, and its implementing regulations. 
 1.7 “Additional Indication” shall have the meaning given
to it in Section 4.3(a). 
 1.8 “Additional Indication Notice” shall have the meaning given to it
in Section 4.3(a). 
 1.9 “Affiliate” means, with respect to a Party, any Person that controls, is
controlled by, or is under common control with that Party. For the purpose of this definition, “control” or “controlled” means, direct or indirect, ownership of fifty percent (50%) or more of the shares of stock entitled to vote
for the election of directors in the case of a corporation or fifty percent (50%) or more of the equity interest in the case of any other type of legal entity; status as a general partner in any partnership; or any other arrangement whereby the
Person controls or has the right to control the board of directors or equivalent governing body of a corporation or other entity or the ability to cause the direction of the management or policies of a corporation or other entity. The Parties
acknowledge that in the case of entities organized under the laws of certain countries where the maximum percentage ownership permitted by law for a foreign investor is less than fifty percent (50%), such lower percentage shall be substituted in the
preceding sentence, provided that such foreign investor has the power to direct the management and policies of such entity. With respect to the definitions of Ayala Patents and Ayala Know-How, and with
respect to the grant of license rights by Ayala to Novartis under Section 4.1 in respect thereof, “Affiliates” of Ayala shall exclude any Third Party that becomes an Affiliate due to such Third Party’s
acquisition of Ayala. 
 1.10 “Agreement” shall have the meaning given to it in the preamble. 

1.11 “Alliance Manager” shall have the meaning given to it in Section 6.1. 

1.12 “Applicable Laws” means all applicable laws, statutes, rules, regulations, codes, administrative or judicial orders,
judgments, decrees, injunctions and/or ordinances of any Governmental Authority, and common law or other legal requirements of any kind, whether currently in existence or hereafter promulgated, enacted, adopted or amended. 

1.13 “Ayala” shall have the meaning given to it in the preamble. 

1.14 “Ayala Improvements” has the meaning set forth in Section 8.2.1. 

  
 2 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 1.15 “Ayala Indemnified Party” shall have the meaning given to it in
Section 15.1. 
 1.16 “Ayala Intellectual Property” shall mean the Ayala’s rights in Ayala
Patents and Ayala Know-How. 
 1.17 “Ayala
Know-How” shall mean any Know-How Controlled by Ayala as of the Effective Date and/or during the Option Term that is necessary for the Development, Manufacture,
use or Commercialization of the Compound or Product, including any applicable Ayala Improvements. 
 1.18 “Ayala Patents”
shall mean the Patents set forth on Exhibit A hereto, together with any Patents included in the Ayala Improvements. 

1.19 “Bi-Annual Evaluation Report” shall have the meaning given to it in
Section 2.3.1(c). 
 1.20 “BMS” means Bristol-Myers Squibb Company. 

1.21 “BMS License Agreement” shall mean the License Agreement between BMS and Ayala, dated November 29, 2017. 

1.22 “Business Day” means a day other than a Saturday, Sunday, or any day on which commercial banks located in Cambridge,
Massachusetts, Basel, Switzerland, or Tel Aviv, Israel are authorized or obligated by Applicable Law to close. 
 1.23 “Calendar
Quarter” means the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30, and December 31; provided, however, that the last Calendar Quarter of the
Product Term will end upon the expiration or termination of this Agreement. 
 1.24 “Calendar Year” means a period of twelve
(12) consecutive calendar months ending on December 31; provided, however, that the last Calendar Year of the Product Term will begin on January 1 of the Calendar Year in which this Agreement expires or terminates and
end upon the expiration or termination of this Agreement. 
 1.25 “Claim” shall mean any action, appeal, petition, plea,
charge, complaint, claim, suit, demand, litigation, arbitration, mediation, hearing, inquiry, investigation or similar event, occurrence, or proceeding. 

1.26 “Clinical Evaluation Materials” shall have the meaning given to it in Section 2.1(a). 

1.27 “Clinical Study” means any clinical testing of Product in human subjects, including any Phase I Clinical Study, Phase II
Clinical Study, Phase III Clinical Study, or Registration or Pivotal Study. 
 1.28 “Commercialization” or
“Commercialize” shall mean any and all activities directed to and including marketing, promoting, advertising, distributing, disposing, offering for sale, selling, Labeling and Packaging, final product release testing, exporting and
importing of a pharmaceutical product for commercial sale (to the extent applicable). 

  
 3 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

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

1.30 “Competing Program” shall have the meaning given to it in Section 12.2.2(a). 

1.31 “Compound” shall mean Ayala’s proprietary compound known as AL102 and described in
Exhibit B, and any salt, free acid/base, solvate, hydrate, stereoisomer and polymorphic form thereof, and any prodrug, metabolite, conjugate or complex thereof. 

1.32 “Compound Specifications” shall mean, with respect to the research grade Compound provided for the Evaluation Studies,
those specifications set forth on Schedule 1.32 hereto. 
 1.33 “Confidential Information” shall
mean the terms of this Agreement and all information or data of a proprietary or confidential nature which is owned or Controlled and provided or otherwise made available by or on behalf of one Party (“Disclosing Party”) to the
other Party to this Agreement (the “Receiving Party”) either in connection with the discussions and negotiations pertaining to this Agreement or in the course of performing under this Agreement (or the Confidentiality Agreement).
Confidential Information shall include, in the case of Ayala, Ayala Know-How and financial or other non-scientific or
non-technical business information regarding Ayala made available to Novartis in connection with this Agreement; and in the case of Novartis, any and all Know-How of
Novartis relating to Novartis’ or Novartis’ collaborators’ products (i.e., other than Compounds and/or Products), whether commercialized or in development, or the Development, Manufacture or Commercialization of any of the
foregoing, or related clinical or regulatory affairs; information generated in the Program relating to the Compound and/or Products; and financial or other non-scientific or
non-technical business information regarding Novartis, its Affiliates, or their collaborators made available to Ayala in connection with this Agreement. Confidential Information will be deemed not to include:

 (a) information which is or becomes part of the public domain through no breach of this Agreement by the Receiving Party
or any of its Affiliates; 
 (b) information which the Receiving Party can demonstrate by its written records was known by
the Receiving Party or any of its Affiliates prior to the disclosure thereof by the Disclosing Party; 
 (c) information
which is independently developed by the Receiving Party or any of its Affiliates, so long as such development does not result from use of Confidential Information of the Disclosing Party, and such independent development can be demonstrated by
written records of the Party claiming such independent development or any of its Affiliates; and 
 (d) information that
becomes available to the Receiving Party or its Affiliates on a non-confidential basis, whether directly or indirectly, from a Third Party who has the right to make such disclosure. 

  
 4 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 The fact that a particular item of information is not or has ceased to be Confidential
Information by virtue of one or more of the exclusions specified above shall not relieve the Party who obtained or received such excluded item from that Party’s obligation of confidentiality and non-use
(i) as to any other item of Confidential Information of the other Party or (ii) as to the relationship of such excluded item to any other item of Confidential Information of the other Party. 

1.34 “Confidentiality Agreement” shall mean the Confidentiality Agreement (Mutual) between Ayala and Novartis Institutes for
BioMedical Research, Inc., dated as May 3, 2018. 
 1.35 “Control” or “Controlled” shall mean, with
respect to any compound, material, information or intellectual property right, that the Party owns or has a license to such compound, material, information or intellectual property right and has the ability to grant to the other Party a license or a
sublicense (as applicable under this Agreement) to such compound, material, information or intellectual property right as provided for herein without violating (a) the terms of any agreement or other arrangements with any Third Party existing
at the time such Party would be first required hereunder to grant the other Party such license or sublicense or (b) any Applicable Laws with respect to such license or sublicense. 

1.36 “CTA” means a Clinical Trial Application, filed with a Regulatory Authority other than the FDA. 

1.37 “Damages” shall mean all damages, losses (including any diminution in value), liabilities, payments, amounts paid in
settlement, obligations, fines, penalties, costs or expenses of any kind or nature whatsoever incurred or paid in connection with any Claim or threatened Claim (including reasonable fees and expenses of outside attorneys, accountants and other
professional advisors and of expert witnesses and other costs of investigation, preparation and litigation in connection with such Claim or threatened Claim). 

1.38 “Debtor” shall have the meaning given to it in Section 17.1(c). 

1.39 “Development” or “Develop” shall mean all activities that relate to (a) obtaining or maintaining
Regulatory Approval for a pharmaceutical product or (b) developing the process for the Manufacture of clinical and commercial quantities of a pharmaceutical product. This includes (i) the conduct of
non-human animal studies, including preclinical studies and toxicology studies, and clinical studies of all phases and (ii) the preparation, submission, review and development of data or information in
support of a submission to a Regulatory Authority to obtain or maintain Regulatory Approval of a pharmaceutical product, including the services of outside advisors in connection therewith, including its legal counsel and regulatory consultants, but
excludes (x) Commercialization and (y) the Manufacture and accumulation of commercial inventory of a pharmaceutical product. 

1.40 “Effective Date” shall have the meaning given to it in the preamble. 

1.41 “EMA” shall mean the European Medicines Agency or any successors to its responsibilities with respect to pharmaceutical
products such as the Products. 

  
 5 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 1.42 “European Union” means the countries that are members of the European
Union as of the Effective Date or that become members of the European Union thereafter, and includes, for the avoidance of doubt, any countries that as of the Effective Date, or at any point during the Product Term thereafter, cease being members of
the European Union, but that remain subject to any Applicable Law of the European Union. 
 1.43 “Evaluation Committee”
shall have the meaning given to it in Section 2.2. 
 1.44 “Evaluation Materials” shall mean the
Nonclinical Evaluation Materials and the Clinical Evaluation Materials. 
 1.45 “Evaluation Studies” shall mean the studies
described on Exhibit C attached hereto. 
 1.46 “Exclusivity Product” shall mean any compound
having an IC50 for inhibition of BCMA shed by gamma secretase of no greater than 1 micromolar, as measured by effect on BCMA in KMS11 cell line models, or any pharmaceutical product containing
such a compound. 
 1.47 “FDA” shall mean the United States Food and Drug Administration or any successors to its
responsibilities with respect to pharmaceutical products such as the Products. 
 1.48 “Field” shall mean the diagnosis,
prophylaxis, treatment, or prevention of multiple myeloma in humans. 
 1.49 “Final Evaluation Report” shall have the
meaning given to it in Section 2.3.1(e). 
 1.50 “First Commercial Sale” means, with respect to
any Product in the Field in any country in the Territory, the first sale for use or consumption by the general public of such Product in the Field in such country after Regulatory Approval of such Product in the Field in such country has been
granted, or such marketing and sale is otherwise permitted, by the Regulatory Authority of such country. Sales or transfers of reasonable quantities of a Product for research or Development, including proof of concept studies or other clinical trial
purposes, or for compassionate or similar use, shall not be considered a First Commercial Sale. 
 1.51 “Follow-On Press Release” shall have the meaning given to it in Section 13.2. 

1.52 “GMPs” shall mean current Good Manufacturing Practices as defined from time to time by the Act and related regulations or
any successor laws or regulations or the equivalent foreign Applicable Laws governing the manufacture, handling, storage and control of the Compound including as required in the United States and the European Union. 

1.53 “Governmental Authority” means any multi-national, federal, state, local, municipal or other government authority of any
nature (including any governmental division, subdivision, department, agency, bureau, branch, office, commission, council, court or other tribunal, as well as any securities exchange or securities exchange authority). 

1.54 “IND” means an Investigational New Drug Application filed with the FDA. 

1.55 “Initial Press Release” shall have the meaning given to it in Section 13.2. 

  
 6 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 1.56 “Know-How” shall mean any
proprietary or non-public technical, scientific or clinical information, in any tangible or intangible form, including know-how, information, ideas, inventions, works of
authorship, trade secrets, technology, data (including pharmacological, toxicological and clinical test data), results, materials, expertise, trade secrets, practices, techniques, methods, processes, developments, specifications, formulations and
formulae, including any intellectual property rights embodying any of the foregoing, but excluding Patents. 
 1.57 “Label”
means, with respect to a Product, all labels and other written, printed, or graphic matter (a) on the Product containers or wrappers, or (b) accompanying the Product. 

1.58 “Labeling and Packaging” means the final product labeling and packaging of the Product, including materials to be
inserted such as patient inserts, patient medication guides, professional inserts and any other written, printed or graphic materials accompanying the Product. 

1.59 “License” shall have the meaning given to it in Section 4.1. 

1.60 “MAA” means a marketing authorization application filed for Regulatory Approval in the European Union of the applicable
Product. 
 1.61 “Manufacture” or “Manufacturing” means all activities related to the manufacturing of a
pharmaceutical compound or product, and/or any ingredient thereof, including manufacturing for clinical use or commercial sale, in-process and finished product testing, warehousing, storage and release of
product, quality assurance activities related to manufacturing and release of product and ongoing stability tests and regulatory activities related to any of the foregoing. 

1.62 [NOTE USED] 
 1.63
“NDA” shall mean, for a particular Product, its United States New Drug Application, filed with the FDA, as such application may be amended or supplemented from time to time, or an analogous application or filing with any Regulatory
Authority outside of the United States (including any supra-national entity such as the European Union) for the purpose of obtaining approval to market and sell a drug product in such jurisdiction. 

1.64 “Net Sales” means the net sales recorded by Novartis or any of its Affiliates or sublicensees (excluding distributors and
wholesalers) for any Product sold to Third Parties other than such sublicensees as determined in accordance with Novartis’ Accounting Standards as consistently applied, less a deduction of [***] percent ([***]%) for direct
expenses related to the sales of the Product, distribution and warehousing expenses and uncollectible amounts on previously sold products. The deductions booked on an accrual basis by Novartis and its Affiliates under its Accounting Standards to
calculate the recorded net sales from gross sales are the following, applied without duplication: 
 (a) normal and customary
trade and cash discounts; 
 (b) amounts repaid or credited by reasons of defects, rejections, recalls or returns; 

  
 7 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (c) rebates and chargebacks to customers and third parties (including
Medicare, Medicaid, Managed Healthcare and similar types of rebates); 
 (d) amounts provided or credited to customers
through coupons and other discount programs; 
 (e) delayed ship order credits, discounts or payments related to the impact
of price increases between purchase and shipping dates or retroactive price reductions; 
 (f) fee for service payments to
customers for any non-separable services (including compensation for maintaining agreed inventory levels and providing information); and 

(g) other reductions or specifically identifiable amounts deducted for reasons similar to those listed above in accordance with
Novartis’ Accounting Standards. 
 With respect to the calculation of Net Sales: 

(i) Net Sales only include the value charged or invoiced on the first arm’s length sale to a Third Party and sales between
or among Novartis and its Affiliates and Sublicensees shall be disregarded for purposes of calculating Net Sales; 
 (ii) If
a Product is delivered to the Third Party before being invoiced (or is not invoiced), Net Sales will be calculated at the time all the revenue recognition criteria under Novartis Accounting Standards are met; and 

(iii) In the event that the Product is sold in a finished dosage form containing the Compound in combination with one or more
other active ingredients (a “Combination Product”), the Net Sales will be calculated by multiplying the Net Sales of the Combination Product by the fraction, A/(A+B) where A is the weighted (by sales volume) average sale price in
the relevant country of the Product containing the Compound as the sole active ingredient in finished form, and B is the weighted average sale price (by sales volume) in that country of the product(s) containing the other component(s) as the sole
active ingredient(s) in finished form. Regarding prices comprised in the weighted average price when sold separately referred to above, if these are available for different dosages from the dosages of Compound and other active ingredient components
that are included in the Combination Product, then Novartis shall be entitled to make a proportional adjustment to such prices in calculating the royalty- bearing Net Sales of the Combination Product. If the weighted average sale price cannot be
determined for the Product or other product(s) containing the single Compound or component(s), the calculation of Net Sales for Combination Products will be agreed by the Parties based on the relative value contributed by each component (each
Party’s agreement not to be unreasonably withheld or delayed). 
 1.65 “Nonclinical Evaluation Materials” shall have
the meaning given to it in Section 2.1(a). 
 1.66 “Novartis” shall have the meaning given to it
in the preamble. 

  
 8 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 1.67 “Novartis Group” shall mean, collectively, Novartis and its Affiliates
and sublicensees (including distributors or commercial partners). 
 1.68 “Novartis Indemnified Party” shall have the
meaning given to it in Section 15.2. 
 1.69 “Option” shall have the meaning given to it in
Section 3.1. 
 1.70 “Option Exercise Date” shall have the meaning given to it in
Section 3.2. 
 1.71 “Option Term” shall have the meaning given to it in
Section 3.1. 
 1.72 “Other Information” shall mean (a) information relating to a disapproval
or cancellation of Regulatory Approval of a Compound and/or Product by the relevant Regulatory Authority of any jurisdiction; (b) information on modifications required to be made in the contents of a Regulatory Approval of a Product or an
application therefor in any jurisdiction in order to prevent, or to warn against risks of, death, bodily harm or other severe adverse event; (c) information on withdrawal of a Product from the marketplace in any jurisdiction;
(d) information on important revisions of the warnings or precautions in the usage of a Product as set forth in the Label pursuant to a Regulatory Approval or an application therefor in any jurisdiction; and (e) any information about the
Compound or Product which would reasonably be expected to impact the continued Development or Commercialization of a Product in any jurisdiction. 

1.73 “Parties” shall have the meaning given to it in the preamble. 

1.74 “Patents” shall mean all issued patents and patent applications, whether domestic or foreign, including all
continuations, continuations-in-part, divisions, provisionals and renewals, any application for patent filed hereafter or patent issued hereafter in any jurisdiction
claiming priority to any such application for patent, letters patent granted with respect to any of the foregoing, patents of addition, supplementary protection certificates, registration or confirmation patents and all reissues, re-examination and extensions thereof. 
 1.75 “Person” means any corporation, limited or
general partnership, limited liability company, joint venture, trust, unincorporated association, governmental body, authority, bureau or agency, any other entity or body, or an individual. 

1.76 “Pharmacovigilance Agreement” shall have the meaning given to it in Section 12.1.2. 

1.77 “Phase I Clinical Studies” shall mean those studies that include the initial introduction of a drug into humans, to
determine the metabolic and pharmacologic actions of the drug (as a single agent or in combination) in humans, as more fully defined in 21 C.F.R. §312.21(a), or its successor regulation, or the equivalent in any foreign country. 

1.78 “Phase II Clinical Studies” shall mean early controlled human clinical studies conducted to obtain some preliminary data
on the appropriate dose range and effectiveness of a drug (as a single agent or in combination) in a disease or condition under study, as more fully defined in 21 C.F.R. §312.21(b) or its successor regulation, or the equivalent in any foreign
country. 

  
 9 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 1.79 “Phase IIb Clinical Studies” shall mean controlled, multicenter Phase
II Clinical Studies in patients with the disease or condition under study which are conducted after a proof of concept study to further evaluate efficacy and safety in the Field. 

1.80 “Phase III Clinical Studies” shall mean expanded and controlled human clinical studies involving administration of a drug
to sufficient numbers of human patients with the goal of establishing that a drug (as a single agent or in combination) is safe and efficacious for its intended use, and to be considered as a pivotal study for submission of an NDA, as more fully
defined in 21 C.F.R. §312.21(c) or its successor regulation, or the equivalent in any foreign country. 
 1.81 “Pre-Acquisition Agreement” shall have the meaning given to it in Section 12.2.2(b). 

1.82 “Product” shall mean any pharmaceutical product containing the Compound as the sole active ingredient, in all forms,
presentations, formulations, and dosage forms. 
 1.83 “Product Specifications” means those Manufacturing, performance,
quality- control release, and other specifications for Compound (including the Compound Specifications) or Product in the Territory, which are agreed by the Parties in writing, as such specifications may be amended from time to time pursuant to the
terms of this Agreement. 
 1.84 “Product Term” shall mean the period beginning as of the Effective Date and extending until
the earlier of (a) such time as no Product is being Developed or Commercialized by any member of the Novartis Group or (b) termination of this Agreement as provided herein (including pursuant to Section 3.1 or
Article XIV). 
 1.85 “Program” shall mean all activities related to the Development and
Commercialization of Compound or Products in the Territory in the Field performed by or on behalf of Ayala (or its Affiliates) or Novartis (or its Affiliates) pursuant to this Agreement. 

1.86 “Program Improvements” shall mean any and all Know-How, Patents and all other
intellectual property developed by or on behalf of Novartis (or its Affiliates) or jointly by Novartis and Ayala or any of their respective Affiliates, in connection with the Program. 

1.87 “Program Transfer Provisions” shall have the meaning given to it in Section 14.2.5. 

1.88 “Protective Action” shall have the meaning given to it in Section 9.2.1. 

1.89 “Quality Agreement” shall have the meaning set forth in Section 3.3. 

1.90 “Registration or Pivotal Study” shall mean a Phase III Clinical Study, a combined Phase II Clinical Study/Phase III
Clinical Study, or any Phase II Clinical Study in lieu of a Phase III Clinical Study, or any well-controlled study intended to provide the substantial evidence of efficacy necessary and sufficient to support an NDA filing. 

  
 10 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 1.91 “Regulatory Approval” shall mean: (a) in the United States,
written notice of marketing approval by the FDA based on approval of an NDA and satisfaction of any related applicable FDA registration and notification requirements (if any) which are required before a product may be commercially sold in the United
States; and (b) in any other country in the Territory, written notice of required marketing approval by the Regulatory Authority having jurisdiction in such country and satisfaction of related applicable registration and notification
requirements (if any) which are required before a product may be commercially sold in such country (including, where commercially necessary, satisfactory Label and pricing approval, and, if commercially necessary or for commercial sale of a
pharmaceutical, governmental or Third Party reimbursement approval and/or inclusion on any governmental formularies effective in such country). 

1.92 “Regulatory Authority” shall mean, in a particular country or regulatory jurisdiction, any applicable Governmental
Authority involved in granting Regulatory Approval or, to the extent required in such country or regulatory jurisdiction, pricing or reimbursement approval for a pharmaceutical product, including (a) the FDA, (b) the EMA, and (c) the
European Commission, or the successor of any such Governmental Authority. 
 1.93 “Sales & Royalty
Report” has the meaning set forth in Section 5.2.4. 
 1.94 “Senior Officers” means the
Chief Executive Officer of Ayala and the Global Head, BD&L, Novartis Institutes of Biomedical Research. 
 1.95 “SPA”
shall have the meaning given to it in the recitals. 
 1.96 “Supply Agreement” has the meaning set forth in
Section 3.3. 
 1.97 “Territory” shall mean the world. 

1.98 “Third Party” shall mean any individual, estate, trust, partnership, joint venture, association, firm, corporation,
company or other entity, other than Ayala or Novartis or an Affiliate or an employee of Ayala or Novartis. 
 1.99 “United
States” or “U.S.” means the United States of America, including its territories and possessions. 
 1.100
“Valid Claim” shall mean any claim of (a) an issued and unexpired Patent that has not been held unenforceable, unpatentable or invalid by a final decision of a court or a Governmental Authority of competent jurisdiction
(including any competent Patent office), from which no further appeal is possible or (b) a pending Patent application that has not been finally abandoned or finally rejected or expired and that has been pending for no more than [***]
([***]) years from the date of filing of the earliest Patent application to which such pending Patent application is entitled to claim priority. 

  
 11 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 ARTICLE II 

MATERIALS TRANSFER AND EVALUATION STUDY 

Section 2.1. Materials Manufacture and Use. 

(a) As soon as reasonably practicable after the later of the execution of this Agreement and the SPA, Ayala will supply to Novartis such
quantities of Compound, Product and other materials as are described in Exhibit C for purposes of conducting Evaluation Studies not comprising human clinical trials (the “Nonclinical Evaluation Materials”), together with
such Ayala Know-How as may reasonably be necessary in order for Novartis to conduct such Evaluation Studies, solely for use for the limited purpose and extent set forth in
Section 2.1(c). Ayala will use Commercially Reasonable Efforts to supply Novartis from time to time with such additional quantities of Nonclinical Evaluation Materials reasonably necessary to complete the nonclinical
Evaluation Studies as Novartis may reasonably request. Compound supplied to Novartis as part of the Nonclinical Evaluation Materials will consist of the supplies of Compound which Ayala currently has available to it and shall meet the applicable
Compound Specifications for the intended use. All supply of Nonclinical Evaluation Materials pursuant to this Section 2.1 shall be invoiced on a per-shipment basis to Novartis at
Ayala’s Manufacturing Cost as reflected in Ayala’s accounting records kept in accordance with its Accounting Standards, and invoiced amounts shall be paid to Ayala within [***] of Novartis’ receipt of the applicable invoice.
Ayala Know-How to be provided to Novartis will include a Material Safety Data Sheet and relevant information available and known to Ayala concerning the safety, handling, use, disposal and environmental
effects of the Compound and Product. With respect to the conduct of any human clinical trials included in the Evaluation Studies, all Product supplied as part of the Evaluation Materials provided in connection therewith (the “Clinical
Evaluation Materials”) will be Manufactured by or on behalf of Ayala in accordance with Novartis’ specifications (as approved by Ayala), the Supply Agreement and Quality Agreement, and Applicable Law, and invoiced and priced as further
detailed in the Supply Agreement. Such materials shall be provided solely for use for the limited purpose and extent set forth in Section 2.1(c). 

(b) Solely for use for the limited purpose and extent set forth in Section 2.1(c), Novartis may make (or direct
Ayala to make) the Evaluation Materials available to one or more of its Affiliates and service providers providing services in relation to the Evaluation Studies, and Novartis will continue to have primary responsibility and liability for compliance
by any such Affiliate(s) and/or service providers, with all of Novartis’ obligations under, and its acts or omissions in relation to, this Agreement. 

(c) Notwithstanding anything herein to the contrary, during the Option Term, Novartis will use (and will cause any Affiliate(s) and service
providers provided with access to any Evaluation Materials in accordance with Section 2.1(b) to use) the Evaluation Materials and Ayala Know-How solely for the limited and express
purpose of performing the Evaluation Studies and for preparing for the subsequent Development of the Compound and Product following the exercise of the Option. No other rights, express or implied, are granted to Novartis with respect to the
Evaluation Materials and/or Ayala Know-How pursuant to this Article II. 

  
 12 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (d) In connection with the other activities contemplated by this Agreement, Novartis may
also request in writing permission to perform further drug substance synthesis and drug product formulation research and development activities with respect to the Compound and Product (“CMC Development”) during the Option Period if
Novartis anticipates potential significant clinical timeline delays following its exercise of the Option, and such permission will not unreasonably be withheld by Ayala. 

Section 2.2. Evaluation Committee. 

2.2.1 Formation. Within [***] after the Effective Date, the Parties will 
form an evaluation committee composed of three (3) representatives appointed by each of Ayala or its Affiliates and Novartis or its Affiliates; provided that at least one (1) individual appointed by
each Party is vested with the appropriate decision-making and resource- allocating authority, and the requisite experience, to participate in discussion of, and decide on, matters relating to the conduct of the Evaluation Studies (the
“Evaluation Committee”). The chairperson of the Evaluation Committee will be one of [***] representatives. From time to time, each Party may substitute its representatives on the Evaluation Committee in its sole discretion,
effective upon written notice to the other Party of such change. 
 2.2.2 Meetings. The Evaluation Committee will meet periodically
during the Option Term (but no less frequently than [***]) to review and discuss matters relating to the conduct of the Evaluation Studies. All Evaluation Committee meetings may be conducted in person, by videoconference or by teleconference
at such times and such Ayala or Novartis locations as shall be determined by the Evaluation Committee chairperson; provided that in- person meetings of the Evaluation Committee shall be held at least
[***] (unless otherwise agreed by the Parties) and will alternate between appropriate offices of each Party. The Parties shall each bear all expenses of their respective representatives relating to their participation on the Evaluation
Committee. The members of the Evaluation Committee also may convene or be polled or consulted from time to time by means of telecommunications, video conferences, electronic mail or correspondence, as deemed necessary or appropriate. The Evaluation
Committee may request other employees or consultants of Novartis or Ayala or their Affiliates to attend its meetings to present information or participate in discussions on an ad hoc basis as it deems appropriate. 

2.2.3 Duties of the Evaluation Committee. The Evaluation Committee will review and discuss the activities of the Parties with respect to
the conduct of the Evaluation Studies, including review and discussion of (a) any reports and/or plans exchanged pursuant to Sections 2.3.1(c)-(g) and (b) any proposed updates to
Exhibit C regarding the Evaluation Studies, including any updates required or recommended based on review and discussion of the materials described in the foregoing clause (a). For the avoidance of doubt, the plan for the
Evaluation Studies as set forth in Exhibit C may be modified only by unanimous approval of the Evaluation Committee, acting reasonably and in accordance with this Section 2.2. 

  
 13 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Section 2.3. Performance Obligations. 

2.3.1 Novartis Obligations. 

(a) Novartis will commence the Evaluation Studies promptly after Novartis’ receipt of the amounts of Evaluation Materials specified in
Exhibit C as necessary to commence such studies and will use Commercially Reasonable Efforts to complete the Evaluation Studies during the Option Term. 

(b) Novartis will be responsible for compliance by itself and its Affiliates with all Applicable Laws with respect to the Evaluation Studies.

 (c) Novartis shall provide the Evaluation Committee with reports not later than [***] following the end of every other Calendar
Quarter, in reasonable detail and in a mutually agreed-upon format, regarding the progress and results of the Evaluation Studies (each, a “Biannual Evaluation Report”). Each Biannual Evaluation Report shall include at a minimum
information regarding (i) the number of active sites in each Evaluation Study, (ii) the number of patients enrolled in each Evaluation Study, (iii) any safety issues or adverse experiences of which Novartis has been notified or become
aware during the course of conducting the Evaluation Studies and (iv) a high level summary of any findings that Novartis has discovered in the immediately preceding Calendar Quarter as well as an updated information package as described on
Exhibit F hereto with respect to such Calendar Quarter. After delivery of each Biannual Evaluation Report to Evaluation Committee, the Evaluation Committee will meet to discuss the results. 

(d) Ayala shall provide the Evaluation Committee with a report two times per year, in reasonable detail and in a mutually agreed-upon format,
regarding safety and manufacturing developments arising in Ayala’s Development efforts outside the Field that could potentially materially affect the Evaluation Studies. 

(e) Notwithstanding any termination of this Agreement, within [***] after the earlier of [***] following the last visit of the
last subject in the Evaluation Studies (each as specified in the plan for the Evaluation Studies set forth in Exhibit C, as may be amended and reviewed by the Evaluation Committee) or the end of the Option Term
(i.e., if the Evaluation Studies are not completed), Novartis will provide the Evaluation Committee with a final written report summarizing in reasonable detail the results of, and the performance of the Compound in, the Evaluation Studies
(the “Final Evaluation Report”). 
 (f) Notwithstanding the foregoing, the Biannual Evaluation Report and the Final
Evaluation Report will not include any information that is primarily associated with any Novartis- or Third Party- proprietary compound or product that might be used in such studies in combination with the Compound and/or Product. 

(g) During the Option Term, Novartis will prepare an initial Development plan for the activities to be conducted by or on behalf of Novartis
with respect to the Program for the first twelve (12) months following Novartis’ exercise of the Option. Such initial Development plan will describe the specific tasks to be undertaken and objectives to be achieved by Novartis during such
period. If Novartis exercises the Option, not later than [***] following the Option Exercise Date, Novartis will provide a draft to the Evaluation Committee for review and comment. 

  
 14 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 2.3.2 Ayala Rights and Obligations. 

(a) Ayala shall use Commercially Reasonable Efforts to provide reasonable support and assistance to Novartis with respect to its conduct of
the Evaluation Studies during the Option Term as requested by Novartis, and at Novartis’ expense. 
 (b) During the Option Term, Ayala
may, but is not obliged to, continue Development of the Compound and/or Products, outside the Field. If Ayala elects to perform such work, Ayala will do so [***]. 

Section 2.4. Other Information. 

(a) Prior to the commencement of any human clinical trial included in the Evaluation Studies, the Parties will enter into the
Pharmacovigilance Agreement as set forth in Section 12.1.2. 
 (b) In addition to the reporting obligation set
forth above, during the Option Term, Ayala will promptly notify the Novartis if it becomes aware of any Other Information. If any such Other Information relates to fatal, life threatening or other serious adverse events (as defined in ICH-E2A, Section II.B.), Ayala will promptly advise Novartis by telephone, telex or other instantaneous method of communication and shall within [***] thereafter provide written confirmation of such
Other Information. 
 (c) Each Party will also inform the other within [***] of any information that might reasonably affect either
Party’s efforts to obtain Regulatory Approval for the Compound and/or Product and/or might impact Novartis’ ability to Develop the Compound and/or Product as required by this Agreement. 

ARTICLE III 
 OPTION

 Section 3.1. Option Grant. Effective upon the later of the Effective Date and the execution of the SPA, Ayala hereby
grants to Novartis an exclusive option during the Option Term to obtain the License specified in Section 4.1 hereof on the terms and conditions specified in this Agreement (the “Option”), which may be
exercised in accordance with Section 3.2. “Option Term” means the period commencing on the later of the Effective Date and the execution of the SPA, and ending on the date that is the earlier of
(a) sixty (60) days following the last visit of the last subject in the Evaluation Studies (as specified in the plan for the Evaluation Studies set forth in Exhibit C, as may be amended and reviewed by the Evaluation
Committee in accordance with Section 2.2), (b) termination of this Agreement and (c) thirty six months following the delivery of sufficient amounts of the Clinical Evaluation Materials to conduct the anticipated
clinical studies; provided that to the extent any delays occur that result directly from Ayala’s delay in providing Evaluation Materials reasonably requested by Novartis during the Option Term beyond the periods set forth in the plan for
the Evaluation Studies set forth in Exhibit C, the Option Term shall be automatically extended for a time period equal to the aggregate amount of any such delays. If not earlier terminated, failure by Novartis to exercise the Option prior to
the expiration of the Option Term will result in the termination of this Agreement (including the Option) on the first date following the expiration of the Option Term. 

  
 15 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Section 3.2. Option Exercise. At any time during the Option Term, Novartis may in
its sole discretion exercise the Option by (a) delivery of written notification to Ayala of its intent to exercise the Option (the “Option Exercise Notice”), and (b) payment of a
one-time non- refundable, non-recoupable, non-creditable Option exercise fee of
[***] dollars ($[***]) via wire transfer in immediately available funds to the account specified in writing by Ayala, to be made no later than [***] after Novartis’ receipt of an invoice for the same, which will be
transmitted to Novartis on or after Ayala’s receipt of the Option Exercise Notice. Failure to pay the fee set forth in this Section 3.2 in a timely manner will be deemed to be a material breach of this Agreement. Upon
receipt by Ayala of the Option exercise fee in accordance with this Section 3.2, the date of the Option Exercise Notice shall thereafter be the “Option Exercise Date” under this Agreement. 

Section 3.3. Quality Agreement and Supply Agreement. Within [***] after the Effective Date, the Parties shall negotiate in
good faith and enter into a mutually agreed-upon Supply Agreement (“Supply Agreement”) and Quality Agreement (the “Quality Agreement”) with respect to Product to be Manufactured by or on behalf of Ayala for the
Clinical Studies as set forth in Article XVI. 
 Section 3.4. Effect of Expiration of Option Term Without
Exercise. Upon the expiration of the Option Term without Novartis having exercised its Option: 
 (a) Effective as of the effective date
of termination or expiration of this Agreement, Novartis hereby grants to Ayala a worldwide, royalty-free, non-exclusive, irrevocable license (with right to sublicense) to use the information and data included
in any Biannual Evaluation Report and/or Final Evaluation Report, solely to research, Develop, Manufacture, have Manufactured and Commercialize the Compound and/or Products; provided, however, that such license is limited to the data
generated from the Evaluation Studies and does not include any other information relating to any other compound or product (other than the Compound and Product, e.g., any Novartis-proprietary or Third Party-proprietary compound or product)
and does not include a license to any Patents or Patent applications Controlled by Novartis or any Novartis Affiliate; 
 (b) At
Ayala’s request, Novartis will return or cause to be returned to Ayala all unused Compound and all physical embodiments of Ayala Know-How, and any other Evaluation Materials provided by or on behalf of
Ayala to Novartis in connection with the Evaluation Studies (or, if Ayala so requests in writing, destroy them or cause them to be destroyed) [***]. Novartis may keep one complete record of Ayala
Know-How as reasonably necessary to comply with Applicable Laws or its continuing obligations under this Agreement; and 

(c) Novartis will grant the license set forth in Section 8.2.2, if applicable. 

  
 16 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 ARTICLE IV 

LICENSE 

Section 4.1. License Grant. If Novartis exercises its Option within the Option Term, then, subject to the terms and conditions of
this Agreement, and except with respect to the rights retained by BMS pursuant to the BMS License Agreement and the retained rights of Ayala set forth in this Section 4.1, Ayala hereby grants to Novartis, and Novartis
hereby accepts, effective immediately upon the Option Exercise Date an exclusive (including as to Ayala and its Affiliates) right and license or sublicense (as applicable) under the Ayala Intellectual Property to research, Develop and Commercialize
the Compound and/or Product, solely in the Field and in the Territory and (b) subject to Article XVI, Manufacture the Compound and/or Product, solely for use in the Field in the Territory ((a) and
(b) collectively, the “License”). For the avoidance of doubt, Ayala will retain the right to Manufacture the Compound and/or Product, on an exclusive basis for use outside of the Field worldwide, and on a non-exclusive basis for use within the Field in the Territory in accordance with the terms of this Agreement and the Supply Agreement, as necessary to comply with any obligations as set forth in
Article XVI. 
 Section 4.2. Sublicensing. Novartis will have the right to sublicense its rights under
the License, but solely: (a) to its Affiliates, (b) to its service providers, distributors, and/or vendors solely with respect to Development and Commercialization of the Products by or on behalf of Novartis and its Affiliates, or
(c) subject to Ayala’s prior written consent (not to be unreasonably withheld) to a Third Party in connection with a sublicense of Novartis’ rights to Develop and/or Commercialize the Compound and/or Product in one or more
jurisdictions in the Territory, in each case: (i) in a manner which is consistent with the terms and provisions of this Agreement; (ii) where Novartis is and remains liable for the acts or omissions of any such sublicensee and remains
responsible for its obligations under this Agreement; (iii) pursuant to a written agreement containing terms no less protective of Ayala Intellectual Property and Ayala’s Confidential Information as those contained herein; and
(iv) where any such sublicense terminates upon any termination of the License. 
 Section 4.3. Right of First Negotiation for
Additional Indications. 
 (a) During the Product Term, in the event that Ayala intends to license to a Third Party rights to conduct,
or Ayala receives from a Third Party a proposed term sheet or agreement to license rights to conduct, Development or Commercialization activities with respect to the Compound in any indication outside of the Field and for which license rights have
not been granted prior to the Option Exercise Date (each, an “Additional Indication”), then, prior to entering into negotiations with or offering to any Third Party any license or rights to Develop or Commercialize the Compound for
any Additional Indication, Ayala will deliver to Novartis notice of Ayala’s intent to offer such a license or rights to a Third Party (the “Additional Indication Notice”) together with (a) any information or data relating
to the Compound that had been provided to the relevant Third Party, and (b) any other information or data in Ayala’s Control that would be important to Novartis with respect to its decision whether or not to exercise any of the rights
granted to it in this Section 4.3; provided that Ayala shall be under no obligation to provide any commercially sensitive information that it has not also provided to any such applicable Third Party. Such notice is
not required to contain any information about the Third Party or the proposed arrangement other than specifying Ayala’s intent to license or a Third Party’s desire to receive a license (as applicable) with respect to the Compound in an
Additional Indication. 
 (b) [***]. 

(c) [***]. 

  
 17 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (d) [***]. 

(e) Notwithstanding the foregoing, nothing in this Section 4.3 waives any rights under
Section 12.2.1. 
 Section 4.4. Reservation of Rights. Except for the licenses and other rights
expressly granted to Novartis herein, all right, title and interest in and to the Ayala Patents and Ayala Know-How (and all modifications, derivatives and improvements thereof), and any other rights of Ayala
and its Affiliates not expressly granted to Novartis hereunder (including, for clarity, all of the foregoing with respect to the Compound or Products outside of the Field, and with respect to compounds or products other than the Compound and
Products in any field, subject to Section 12.2), shall remain solely with Ayala, its Affiliates and its Third Party licensors, as applicable. To the extent any such rights vest in Novartis, then Novartis shall, and hereby
does, irrevocably assign all such right, title and interest in and to the Ayala Patents and Ayala Know-How to Ayala, and hereby acknowledges and agrees that any such rights are and shall remain owned solely by
Ayala; provided, however, that for the avoidance of doubt, Novartis will have no obligation to assign to Ayala any intellectual property rights created, conceived of, or reduced to practice solely by Novartis, its Affiliates, or agents or
jointly by Novartis, its Affiliates, and its agents together with Ayala and its Affiliates and agents. Except as expressly provided in this Section 4.4 or elsewhere in this Agreement, neither Party will be deemed by this
Agreement to have been granted any license or other rights to the other Party’s intellectual property rights, either expressly or by implication, estoppel or otherwise. Notwithstanding anything to the contrary in this Agreement, the Parties
acknowledge and agree that the Development and Commercialization of the Compound and/or Product outside of the Field shall not be within the scope of the licenses or any other rights granted to Novartis hereunder (except as expressly provided in
Section 4.3). 
 ARTICLE V 

CONSIDERATION 
 As
partial consideration for the rights and licenses granted to Novartis in this Agreement, Novartis’ Affiliate, NIBRI, will enter into the SPA and Novartis will pay the following amounts: 

Section 5.1. Milestone Payments. 

5.1.1 Developmental Milestones. Novartis will notify Ayala of the first achievement of any of the Milestone Events set forth below
within [***] after their achievement. In addition to (and not in lieu of) royalty payments due under this Agreement, Novartis shall pay to Ayala the following one-time,
non-refundable, non-recoupable, non- creditable milestone payments no later than [***] after receipt of an invoice for the
same, which will be issued following receipt of Novartis’ notice, via wire transfer in immediately available funds to the account specified in writing by Ayala: 
  

					
	 Milestone Event
	  	Milestone
Payment	 
	[***]	  	$	[***	] 
	[***]	  	$	[***	] 
	[***]	  	$	[***	] 

  
 18 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 5.1.2 Sales Milestones. Novartis will notify Ayala of the first achievement of any of
the Milestone Events set forth below in a given Calendar Year via the delivery of the relevant Sales & Royalty Report. In addition to (and not in lieu of) royalty payments due under this Agreement, Novartis shall pay to Ayala the following one-time, non-refundable, non- recoupable, non-creditable milestone payments no later than
[***] following receipt of an invoice for the same, which will be issued following receipt of Novartis’ Sales & Royalty Report, via wire transfer in immediately available funds to the account specified in writing by Ayala: 

 

					
	 Milestone Event
	  	Milestone
Payment	 
	[***]	  	$	[***	] 
	[***]	  	$	[***	] 
	[***]	  	$	[***	] 
	[***]	  	$	[***	] 

 5.1.3 General. For the avoidance of doubt, each milestone payment (in
Section 5.1.1 and Section 5.1.2) shall be payable only on the first occurrence of the corresponding milestone event, no matter how many Products achieve the specified milestone event, and none of
the milestone payments shall be payable more than once. 
 Section 5.2. Royalties. 

5.2.1 Royalties and Royalty Term. Subject to the terms and conditions of this Agreement and in partial consideration of the License
granted to Novartis, commencing on the First Commercial Sale of a particular Product in a country, Novartis will pay to Ayala royalties equal to the applicable percentages of aggregate Net Sales of Products in the Territory as described in the table
immediately below, on a Product-by-Product and country-by-country basis, until the later
of (a) ten (10) years after the First Commercial Sale of such Product in such country, (b) the date of expiry of the last to expire Valid Claim of the Ayala Patents covering (i.e., which would otherwise be infringed by) the
manufacture, use, sale, importation or offer for sale in such country of such Product (including by reasons of extensions thereof under Applicable Laws, including patent term extensions, pediatric exclusivity or supplemental protection certificates
or their equivalents in any country) and (c) the expiration of any regulatory or marketing exclusivity for such Product in such country, including but not limited to any data exclusivity (“Royalty Term”). Upon expiration of the
Royalty Term as set forth in the immediately preceding sentence, the License will convert to a fully paid-up License, but solely as to the specific Product at issue and in the country at issue. For all
Products, the royalty percentages will be equal to the following: 
  

					
	 Aggregate Net Sales
	  	Royalty
Percentage	 
	[***]	  	 	[***]	% 
	[***]	  	 	[***]	% 
	[***]	  	 	[***]	% 
	[***]	  	 	[***]	% 
	[***]	  	 	[***]	% 

  
 19 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 5.2.2 Payments to Third Parties 

(a) The Parties acknowledge that certain intellectual property rights owned or controlled by Third Parties that have been previously
identified by the Parties and listed in the Parties’ data room relating to this transaction (“Identified Potential Third Party Intellectual Property Rights”) may be relevant to the Development and/or Commercialization of
Compounds and/or Products. In addition to any amounts set forth in Section 5.2.2(b), if Novartis determines that it is required to obtain a license to such Identified Potential Third Party Intellectual Property Rights to Develop and/or
Commercialize the Compound and/or Product, Novartis may offset against the royalties otherwise payable to Ayala pursuant to Section 5.2.1, an amount equal to [***]; provided, however, that (a) such
offset is limited solely as to that portion of the royalties attributable to the Compounds and/or Product(s) at issue and in respect of the country(ies) at issue, the amount of any royalties and other payments paid by Novartis to the Third Party for
such license to the extent that it relates to the Compound and/or Product; and (b) the provisions of this Section 5.2.2(a) will not have the effect of reducing the royalty percentage set forth above by more than [***]%
([***]). 
 (b) If a Third Party (other than as described in Section 5.2.2(a)) has or receives a Patent in any country
that covers the Development, Manufacture or Commercialization of the Compound or Product anywhere in the Territory and Novartis reasonably determines after consultation with Ayala that it is required to obtain a license to such Patent as to one or
more Compounds and/or Products in one or more countries for a royalty or other payment to such Third Party (including, for example, that any Product at issue cannot be reasonably Manufactured differently so as to avoid the requirement), Novartis may
offset against the royalties otherwise payable to Ayala pursuant to Section 5.2.1, but solely as to that portion of the royalties attributable to the Compounds and/or Product(s) at issue and in respect of the country(ies)
at issue, the amount of any royalties and other payments paid by Novartis to the Third Party for such license to the extent that it relates to the Compound and/or Product; provided, however, that all the offsets set forth in this
Section 5.2.2(b) shall be subject to a cap as to any [***] of [***] percent ([***]%) in the aggregate of the royalties otherwise payable for the Product(s) at issue and in respect of the country(ies) at issue. 

  
 20 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 5.2.3 BMS License Agreement. As between the Parties hereto, Ayala will be responsible
for payment of all royalties and any other payments, if any, due to BMS for any activities under this Agreement with respect to (a) the Ayala Patents, (b) the License, or (c) the BMS License Agreement, and Ayala will promptly pay all
such amounts in accordance with the BMS License Agreement and will otherwise maintain the BMS License Agreement in full force and effect during the Term. Ayala will notify Novartis within [***] if it becomes aware of any uncured material
breach of the BMS License Agreement or alleged breach of the BMS License Agreement that it disputes or does not intend to cure in accordance with the terms of the BMS License Agreement. 

5.2.4 Payment and Reports. Within [***] after each [***] during the Product Term following the First Commercial Sale of a
Product and ending at the end of the Royalty Term, Novartis will provide to Ayala a report in writing specifying the [***] to which such royalty payment applies and detailing the calculation of the royalties due to Ayala for such [***]
(the “Sales & Royalty Report”), and Ayala will submit an invoice to Novartis with respect to the royalty amount shown therein. Novartis will pay such royalty amount within [***] after receipt of the
invoice. 
 5.2.5 Foreign Exchange. Any sales incurred in a currency other than U.S. Dollars shall be converted to the
U.S. Dollar equivalent using Novartis’ then-current standard exchange rate methodology for conversion of foreign currency sales to U.S. Dollars as applied in its external reporting. 

5.2.6 Records. Each Party will keep, and will require any Affiliates and sublicensees selling Product to keep, for [***] from the
date of each payment of royalties, complete and accurate records of Net Sales or Combined Net Sales of each Product or proprietary Novartis pharmaceutical product sold in combination therapy with a Product, as applicable, in sufficient detail to
allow the royalties and sales milestones to be determined accurately. Each Party will have the right for a period of [***] after receiving any report or statement with respect to royalties due and payable and a period of [***] after
receiving any report or statement with respect to any sales milestones due and payable to appoint an independent certified public accountant reasonably acceptable to the other Party to inspect the relevant records to verify such report or statement.
Each Party will make its records and the records of its Affiliates and sublicensees available (including any Net Sales reports received from its sublicensees selling Products or proprietary Novartis pharmaceutical product sold in combination therapy
with a Product, as applicable) for inspection by such independent certified public accountant during regular business hours at such place or places where such records are customarily kept, upon reasonable notice from the other Party, to verify the
accuracy of the reports and payments. Such inspection right will not be exercised more than [***] in any calendar year. The Party requesting the audit will bear all costs and expenses associated with an audit conducted pursuant to this
Section 5.2.6, provided, however, that if the designated auditor discovers an underpayment of [***] or more for any year between the amount the Party owing the other Party has paid to the other Party
under this Agreement, and the amount of royalties actually owed to the other Party under this Agreement, then the Party being audited will bear all costs and expenses associated with such audit. Each Party agrees to hold in confidence all
information concerning royalty payments and reports of the other Party, and all information learned in the course of any audit or inspection, except to the extent necessary for such 

  
 21 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 
Party to (a) reveal such information in order to enforce its rights under this Agreement, (b) in the case of Ayala, provide information to BMS pursuant to the BMS License Agreement,
(c) in the case of Novartis, provide information to its Affiliates, or (d) if disclosure is required by law. Neither Party will have any obligation to maintain records pertaining to such report or statement beyond said [***] period.
The results of each inspection, if any, will be binding on both Parties. Each Party will include substantially the same audit rights in any sublicense it grants in order to verify the correctness of payments due hereunder. 

Section 5.3. Taxes. 

5.3.1 Generally. The Parties will make all payments under this Agreement without deduction or withholding for taxes except to the extent
that any such deduction or withholding is required by law in effect at the time of payment. 
 5.3.2 Withholding. Any tax required to
be withheld on amounts payable under this Agreement will be paid by the Party making the payment (“Paying Party”) on behalf of the Party receiving the payment (“Recipient Party”) to the appropriate Governmental
Authority in a timely manner, and the Paying Party will furnish the Recipient Party with an official tax certificate or other evidence of such tax obligations together with proof of payment from the relevant Governmental Authority of all amounts
deducted and withheld sufficient to enable the Recipient Party to claim such payment of such tax. Any such tax required to be withheld will be an expense of and borne by the Recipient Party. The Paying Party will provide Recipient Party with
reasonable assistance and necessary documents to enable Recipient Party to recover such Tax as permitted by Law. 
 5.3.3 Indirect
Tax. All payments are exclusive of value added taxes, sales taxes, consumption taxes and other similar taxes (the “Indirect Taxes”). If any Indirect Taxes are chargeable in respect of any payments, the paying Party shall pay
such Indirect Taxes at the applicable rate in respect of such payments following receipt, where applicable, of an Indirect Taxes invoice in the appropriate form issued by the receiving Party in respect of those payments or supply exemption
documentation. The Parties shall issue invoices for all amounts payable under this Agreement consistent with Indirect Tax requirements and irrespective of whether the sums may be netted for settlement purposes. 

Section 5.4. Maximizing Sales of Product. In the event that Ayala has a bona fide concern that Novartis’ actions that are
detrimental to maximizing sales of the Product, Ayala shall promptly notify Novartis of such concern and the Parties shall meet within [***] of such notice to discuss and address Ayala’s concern. 

Section 5.5. Financial Reporting. Within [***] after the end of each fiscal year of Ayala, Ayala shall deliver to NIBRI
(i) a balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and (iii) a statement of stockholders’ equity as of the end of such year; all such financial statements audited and
certified by independent public accountants of nationally recognized standing. As soon as practicable but in any event within [***] after the end of each of the first three (3) quarters of each fiscal year of Ayala, Ayala shall deliver
to NIBRI unaudited statements of income and of cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders’ equity as of the end of such fiscal quarter, all prepared in

  
 22 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 
accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments and (ii) not contain all
notes thereto that may be required in accordance with GAAP). The covenants set forth in this Section 5.5 shall terminate and be of no further force or effect upon the earliest to occur of (i) immediately before, but subject to, the
consummation of the Company’s first underwritten public offering of its shares, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Securities Exchange Act of 1934, as
amended, (iii) a Deemed Liquidation Event (as defined in the Certificate of Incorporation of the Company in effect from time to time); or (iv) such date that Novartis and its Affiliates no longer hold any of the shares purchased in the
SPA. 
 ARTICLE VI 

ALLIANCE MANAGERS; REPORTING OBLIGATIONS 

Section 6.1. Alliance Managers. Promptly following the Effective Date, each Party shall appoint an appropriately qualified
individual to serve as such Party’s alliance manager (“Alliance Manager”) under this Agreement. Such individuals shall serve as a single point of contact for all matters arising under this Agreement. Each Party may change its
designated Alliance Manager from time to time upon written notice to the other Party. 
 Section 6.2. Reporting. 

6.2.1 Within [***] after the Option Exercise Date, Novartis will provide Ayala with a high level summary development plan setting forth
the anticipated Development activities to be conducted by Novartis and its Affiliates and sublicensees related to the Compound and/or Products during the following 18 month period (the “Development Plan”). No later than [***]
after each anniversary of the Option Exercise Date, until the First Commercial Sale of a Product, Novartis will update the Development Plan and provide, in reasonable detail, the anticipated Development activities conducted by Novartis and its
Affiliates and sublicensees during the following [***] period. For clarity, the Development Plan is intended to outline anticipated activities, and the Parties acknowledge that actual Development of the Compounds and/or Product may differ
from the Development Plan due to unforeseen or unknown developments or information. 
 6.2.2 On every six month anniversary of the Option
Exercise Date until the First Commercial Sale of a Product, Novartis will provide to Ayala a high level summary of all Development activities that Novartis and its Affiliates or their agents or sublicensees have conducted in the prior six month
period (each, a “Development Report”). The Development Report will include sufficient information to reasonably determine if Novartis has fulfilled its obligations under Section 7.1 and Section 7.4 of this Agreement. 

  
 23 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 ARTICLE VII 

PRODUCT DEVELOPMENT, CLINICAL TRIALS AND REGULATORY APPROVALS 

Section 7.1. Product Development. 

7.1.1 Responsibilities. Following the exercise of the Option, Novartis will be responsible for conducting, [***], research and
preclinical, clinical and other Development of any Compounds or Products in the Field in the Territory using Commercially Reasonable Efforts. Novartis (a) will determine the regulatory plans and strategies for any Compounds and/or Products in
the Field in the Territory, (b) make all regulatory filings with respect to the Compounds and/or Products in the Field in the Territory, either itself or through its Affiliates, and its or their licensees and sublicensees, and (c) be
responsible for obtaining and maintaining regulatory approvals throughout the world in the Field in the Territory in the name of Novartis or its Affiliates, and its or their licensees or sublicensees. Notwithstanding the foregoing, following the
exercise of the Option, Novartis will use Commercially Reasonable Efforts to Develop and obtain Regulatory Approval for the Compound and/or Product in the Field in the Territory, it being understood that the use of Commercially Reasonably Efforts
may not require Novartis to Develop, seek or obtain Regulatory Approval, or Commercialize Compounds and/or Products in all jurisdictions in the Territory. 

7.1.2 Disputes. Without limiting Ayala’s other remedies, if Ayala notifies Novartis that it reasonably believes Novartis is not
using Commercially Reasonable Efforts to Develop Products as required pursuant to Section 7.1.1: (a) the Senior Officers will meet within [***] of any such notice and, at such meeting, Ayala will provide its
rationale regarding why it believes Novartis’ efforts are not Commercially Reasonable Efforts and Novartis will provide its rationale regarding why it believes Novartis’ efforts are Commercially Reasonable Efforts, based on the facts then
existing for the Program; and (b) the Parties will use good faith efforts for a period of up to [***] following such meeting to attempt to resolve any such disputes, following which the provisions of
Section 17.3 may be invoked by either Party. 
 7.1.3 Records. During the Product Term, Novartis will
prepare and maintain accurate records and books relating to the progress and status of its activities respect to the Development of the Compound and Product in the Field in the Territory. 

Section 7.2. Trademarks. Novartis (or its designated Affiliate) will own any trademarks used in commercializing Products in the
Field in the Territory by or on behalf of itself or its Affiliates. Neither Party will use the name, symbol, trademark, trade name or logo of the other Party or its Affiliates in any press release, publication or other form of public disclosure
without the prior written consent of the other Party, except for those disclosures for which consent has already been obtained or in accordance with Section 13.2. 

Section 7.3. Regulatory Activities; Responsibility and Ownership. 

7.3.1 Ayala owns and shall continue to own and control the IND and all non-U.S. equivalents that exist
as of the Effective Date for the Compound (the “Existing Regulatory Filings”). Ayala will promptly, but not earlier than [***] after the Effective Date, provide Novartis and/or the FDA with a letter of authorization for
cross-reference of the Existing Regulatory Filings relating to the Compound and/or Products in the United States in the Field. Ayala will also provide to Novartis (in the format and scope of data included, as agreed upon by the Parties) additional
information and data deemed necessary to permit Novartis to submit its own regulatory filings (i.e., INDs or CTAs) for the Compound and/or Product in the Field in the Territory, and will provide any updates to such information to Novartis
promptly during the Product Term. Ayala 

  
 24 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 
shall, and hereby does, grant to Novartis a right of reference to and use of the Existing Regulatory Filings in the United States in connection with seeking and maintaining Regulatory Approval
relating to the Compound and/or Products in the United States in the Field. During the Product Term, Ayala will update the Existing Regulatory Filings as required by Applicable Law and maintain the Existing Regulatory Filings in full force and
effect in the jurisdictions of their submission and provide a copy to Novartis of any sections of such Regulatory Filings (and any associated documentation, data and information) that may be reasonably applicable to Novartis. If requested by
Novartis, Ayala will use its Commercially Reasonable Efforts to make itself and its representatives reasonably available to answer questions from Novartis and/or the Regulatory Authorities in a timely manner relating to the Existing Regulatory
Filings, and any data included in the Existing Regulatory Filings, and any updates thereto. To the extent that any Regulatory Authority raises concerns or questions to Ayala relating to the Compound and/or Product that could reasonably affect the
Development and/or Commercialization of the Compound and/or Product in the Field, Ayala will promptly inform Novartis and provide a copy of any associated correspondence to Novartis for Novartis’ use in the Field. [***]. 

7.3.2 Novartis will be solely responsible for implementing all pre-Regulatory Approval regulatory plans
and strategies for and preparing and submitting applications for all Regulatory Approvals for the Development and Commercialization of the Compound and/or Product in the Field in the Territory, including INDs and NDAs (and all non-U.S. equivalents), and will own all such associated regulatory filings in which Novartis and/or its Affiliates is the sponsor. To the extent that any Regulatory Authority raises concerns or questions to Novartis
relating to the Compound and/or Product that could reasonably affect the Development and/or Commercialization of the Compound and/or Product outside the Field, Novartis will promptly inform Ayala and provide a copy of any associated correspondence
to Ayala for Ayala’s use outside the Field and Novartis shall otherwise provide Ayala a copy of any correspondence with any Regulatory Authority related to the Compound and/or Product generated by Novartis as soon as reasonably practicable;
provided, that in all such cases, Novartis shall have the right to redact from such document provided to Ayala any portions thereof relating to any compound or material other than the Compounds and Products or to the extent such information
or correspondence relates solely to the Field. 
 7.3.3 Ayala will be solely responsible for implementing all
pre-Regulatory Approval regulatory plans and strategies for and preparing and submitting applications for all Regulatory Approvals for the Development and Commercialization of the Compound and/or Product
worldwide outside of the Field, including INDs and NDAs (and all non-U.S. equivalents), and will own all such associated regulatory filings in which Ayala and/or its Affiliates is the sponsor. To the extent
that any Regulatory Authority raises concerns or questions to Ayala relating to the Compound and/or Product that could reasonably affect the Development and/or Commercialization of the Compound and/or Product in the Field, Ayala will promptly inform
Novartis and provide a copy of any associated correspondence to Novartis generated by Novartis. In no event will Ayala provide, or be required to provide, any information or correspondence relating to any compound or material other than the
Compounds and Products. [***]. 

  
 25 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Section 7.4. Commercialization. Novartis (itself or through an Affiliate) will be
responsible for Commercialization activities for Products in the Field in the Territory and [***] (although such activities may be performed through an Affiliate or Third Party). Novartis will use Commercially Reasonable Efforts to
Commercialize Products in in the Field in the Territory. 
 ARTICLE VIII 

OWNERSHIP AND INTELLECTUAL PROPERTY 

Section 8.1. Ownership. Except as expressly provided in this Agreement, each Party shall retain and own all right, title and
interest in and to all Intellectual Property Controlled by such Party or its Affiliates as of the Effective Date or acquired, in-licensed or generated, invented or discovered by such Party or its Affiliates
outside the Program. As between the Parties, Ayala is and will be sole owner of the Ayala Intellectual Property that exists as of the Effective Date. 

Section 8.2. Ayala Improvements and Program Improvements. 

8.2.1 Ayala will own any inventions relating to the Compound and/or Product and its use created, conceived of, or reduced to practice solely or
jointly by or on behalf of it or its Affiliates in the conduct of its own Development of the Compound and/or Product outside of the Program (“Ayala Improvements”). All such Ayala Improvements arising in the Option Term will be
deemed to be Ayala Intellectual Property and subject to the Option and license as set forth in this Agreement. 
 8.2.2 Novartis will own any
Program Improvements, provided that, Novartis hereby grants to Ayala and its Affiliates an exclusive, worldwide, fully paid and royalty free license and right (with the right to grant sublicenses through multiple tiers without the consent of or any
accounting to Novartis) to practice such Program Improvements solely in connection with the research, Development and Commercialization of the Compound and/or Product after termination of this Agreement for any reason. Novartis will retain all other
rights to such Program Improvements. 
 Section 8.3. Ayala Patents. 

8.3.1 Solely with respect to those Ayala Patents of which Ayala has control over maintenance and/or prosecution, as applicable, and subject in
all cases to the terms and conditions of the BMS License Agreement: 
 (a) Ayala shall have the right, but not the obligation, to
(i) prosecute and maintain Ayala Patents by duly filing all necessary papers and [***] required for such purpose by the Patent laws of the particular country in which such Ayala Patent was granted, and (ii) obtain such Patent
extensions or restorations of Patent terms as may become available from time to time in any country regarding Ayala Patents. Ayala will keep Novartis reasonably informed of the status of the prosecution and maintenance of the Ayala Patents in the
Territory and will provide copies of any correspondence received from patent agencies with respect to such Ayala Patents. If either Party receives any information indicating or otherwise determines that the Ayala Patents may be invalid or
unenforceable, anywhere in the Territory, the Party receiving the information or otherwise making that determination will give the other Party prompt written notice of such information. 

  
 26 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (b) Ayala shall bear the [***] responsibility for maintenance of issued Patents
included within the Ayala Patents. If Ayala elects not to support (or to continue the support of) the preparation, filing or prosecution of one or more patent applications included in the Ayala Patents or the maintenance of one or more issued Ayala
Patents (whether worldwide or on a country-by-country basis), Ayala shall give prompt written notice to Novartis and Novartis may, at its election, assume title to and
responsibility for (including responsibility for [***]) the preparation, filing and prosecution of the relevant patent application or the maintenance of the issued patent in one or more of such jurisdictions; provided that following
receipt of Novartis’ election to assume title to such patents, (a) Ayala shall promptly assign all of its right, title, and interest to such patent application and/or patents to Novartis or its designee; and (b) such patents will
cease to be deemed Ayala Patents for the purpose of this Agreement. 
 Section 8.4. Novartis Patents Included in Program
Improvements. If Novartis elects not to support (or to continue the support of) the preparation, filing or prosecution of one or more patent applications included in the Program Improvements or the maintenance of one or more issued patents
included in the Program Improvements (whether worldwide or on a country-by- country basis), Novartis shall give prompt written notice to Ayala and Ayala may, at its
election, assume title to and responsibility for (including responsibility for all costs for) the preparation, filing and prosecution of the relevant patent application or the maintenance of the issued patent in one or more of such jurisdictions;
provided that following receipt of Ayala’s election to assume title to such patents, (a) Novartis shall promptly assign all of its right, title, and interest to such patent application and/or patents to Ayala or its designee; and
(b) such patents will cease to be deemed Program Improvements for the purpose of this Agreement. 
 ARTICLE IX 

INFRINGEMENT BY OR CLAIMS AGAINST THIRD PARTIES 

Section 9.1. Notices. Each Party will advise the other promptly upon its becoming aware of: (a) any unlicensed activities
which such Party believes may be an actual or impending infringement in the Territory of any Ayala Intellectual Property or otherwise with respect to the Compound or a Product or the Development, Manufacture or Commercialization thereof in the Field
in the Territory; (b) any attack on or appeal of the grant of any Ayala Patent; (c) any application for Patent by, or the grant of a Patent to, a Third Party in respect of rights which may be related to the Compound or a Product so as to
potentially affect the Development, Manufacture or Commercialization thereof in the Field or which may claim the same subject matter as or conflict with any Ayala Patent; or (d) any application made for a compulsory license under any Ayala
Patent. Novartis acknowledges and agrees that any such information may be shared with BMS in accordance with the BMS License Agreement and that BMS has certain rights and obligations thereunder with respect to enforcement of any such matters. 

  
 27 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Section 9.2. Control of Defense. Subject in all cases to the terms and conditions
of the BMS License Agreement: 
 9.2.1 Prior to Option Exercise Date. Prior to the Option Exercise Date, Ayala will have the right
[***] to take whatever legal or other action is required in response to activities requiring notice under Section 9.1 (“Protective Action”) and will notify Novartis as promptly as practicable of its
determination whether or not to take such action. If Ayala engages in such Protective Action, Novartis will [***] cooperate fully with Ayala in such action. Each Party, as well as BMS, may participate and be represented by counsel of its own
selection [***] in such Protective Action (except as provided above), but Ayala will have the right to control such action. Any recovery obtained by Ayala as a result of such Protective Action, whether by judgment, award, decree or
settlement, will be [***]. If Ayala determines it will not engage in such Protective Action, and BMS does not elect to undertake such Protective Action pursuant to the terms of the BMS License Agreement, following the Option Exercise Date,
Novartis shall thereafter have the right to take such Protective Action and will notify Ayala as promptly as practicable of its determination whether or not to take such action, provided that Novartis shall first consult with Ayala concerning
the reasons Ayala elected not to bring such action and shall consider those reasons in good faith in deciding whether to bring such action. Ayala and BMS shall have the right to participate and be represented in any such suit by its own counsel
[***]. 
 9.2.2 Following Option Exercise Date. Following the Option Exercise Date, Novartis will have the right [***]
to take Protective Action and will notify Ayala as promptly as practicable of its determination whether or not to take such action. If Novartis engages in such Protective Action, Ayala will [***] cooperate fully with Novartis in such action.
Each Party, as well as BMS, may participate and be represented by counsel of its own selection [***] in such Protective Action (except as provided above), but Novartis will have the right to control such action. Any recovery obtained by
Novartis as a result of such Protective Action, whether by judgment, award, decree or settlement, will be [***]. If Novartis notifies Ayala that it will not engage in such Protective Action, Ayala shall thereafter have the right to take such
Protective Action and will notify Novartis as promptly as practicable of its determination whether or not to take such action, provided that Ayala shall first consult with Novartis concerning the reasons Novartis elected not to bring such
action and shall consider those reasons in good faith in deciding whether to bring such action. Novartis and BMS shall have the right to participate and be represented in any such suit by its own counsel [***]. 

9.2.3 Settlements. No settlement of any such action or proceeding which restricts the scope, or adversely affects the enforceability, of
a Ayala Patent in the Field may be entered into by Novartis without the prior written consent of Ayala and BMS, which consent shall not be unreasonably withheld, delayed or conditioned, and further, no settlement of any such action or proceeding
which pertains to the infringement of the Ayala Patents by virtue of the Development or Commercialization of a Compound in the Field by a Third Party may be entered into by Novartis without the prior written consent of Ayala or BMS, which consent
shall not be unreasonably withheld, delayed or conditioned. 
 9.2.4 Withdrawal. After the Option Exercise Date, if either Party
brings an action or proceeding under this Section 9.2 and subsequently ceases to pursue or withdraws from such action or proceeding, it shall within a reasonable period of time notify the other Party and the other Party
(or, in the case of Novartis, BMS or Ayala) may substitute itself for the withdrawing Party under the terms of this Section 9.2. 

  
 28 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 ARTICLE X 

INFRINGEMENT OF THIRD PARTY RIGHTS 

Section 10.1. Third Party Claims, Infringement and Misappropriation. During the Product Term, Novartis and Ayala will each
promptly notify the other of (a) any Claim by a Third Party against Novartis or Ayala, or any Affiliate or sublicensee of Ayala or Novartis, alleging infringement of such Third Party’s intellectual property rights as a result of the
Development, Manufacture or Commercialization of the Compound or a Product anywhere in the Territory; and (b) any information or notice that would reasonably indicate that the Compound could infringe any Third Party’s Patent rights or
misappropriate any Third Party’s Know How. With respect to clause (a) of the prior sentence, the Parties will cooperate and use their good faith, commercially reasonable efforts to resolve such claimed infringement and will consult
together as to the action to be taken and as to how the defense will be handled, with each Party entitled to participate in the defense and to be represented by counsel of its choice ([***]); provided, however, that if it
appears reasonably likely that the claimed infringement will give rise to a Claim for indemnification hereunder, then the Party against whom such Claim for indemnification would be made will have the first right to defend against such Claim in
accordance with Article XV below. 
 ARTICLE XI 

REPRESENTATIONS AND WARRANTIES 

Section 11.1. Representations and Warranties of Both Parties. Ayala and Novartis each hereby represents and warrants to the other,
as of the Effective Date of this Agreement (and it shall be a condition to exercise of the Option that, as of the date of exercise of the Option, each is able to confirm to the other) as follows: 

(a) It is a corporation, duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has
all requisite power and authority, corporate or otherwise, to conduct its business as now being conducted, to own, lease and operate its properties and to execute, deliver and perform this Agreement. 

(b) Neither it, nor any of its employees or consultants who shall be undertaking any activities related to this Agreement or the subject
matter thereof, has been debarred or is the subject of debarment or other disciplinary proceedings by the FDA or any Regulatory Authority in the Territory. 

(c) No consent, approval, order or authorization of, or registration, declaration or filing with, any Governmental Authority is required to be
obtained or made by or with respect to such Party in connection with its execution, delivery and performance of this Agreement. 
 (d) The
execution, delivery and performance by it of this Agreement and the transactions contemplated thereby have been duly authorized by all necessary corporate action and stockholder action and will not (i) violate any Applicable Laws or
(ii) result in a breach of or constitute a default under any material agreement, mortgage, lease, license, permit or other instrument or obligation to which it is a Party or by which it or its properties may be bound or affected. 

  
 29 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (e) This Agreement is a legal, valid and binding obligation of such Party, enforceable
against it in accordance with its terms and conditions, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws, from time to time in effect, affecting creditors’ rights
generally and general principles of equity. 
 (f) It is not under any obligation to any Third Party, contractual or otherwise, that
conflicts with the terms of this Agreement or that limits the rights of such Party to fulfill its obligations hereunder. 

Section 11.2. Representations and Warranties of Ayala. Ayala hereby represents and warrants to Novartis, as of the Effective Date
of this Agreement, as follows: 
 (a) Ayala owns or has the lawful right to grant the License. 

(b) Ayala has received no notice of any Claim by any Third Party or any Ayala employee that (a) such Third Party or employee has any
rights to the Ayala Intellectual Property or the Compound that prevent Ayala from granting to Novartis the License; Manufacture or Commercialization of the Compound within the Field as contemplated hereby infringes any Third Party rights; or
(c) the Ayala Patents (to the extent representing issued Patents) are invalid or unenforceable. 
 (c) Product supplied by Ayala
hereunder (a) will meet the applicable Product Specifications for the intended use, (b) will not be adulterated or misbranded within the meaning of the Act, and (c) will be Manufactured in accordance with GMPs; provided,
however, that Ayala may supply Product not Manufactured in accordance with GMPs if specifically intended for non-human testing and as agreed to in writing by Novartis. 

(d) Ayala has provided to Novartis a redacted text of the BMS License Agreement. None of the terms redacted from the BMS License Agreement
impair, or have the ability to impair, Ayala’s ability to perform its obligations under this Agreement or Novartis’ rights under the License. Ayala has not received any notice or other communication from BMS regarding any breach by Ayala
of its obligations under the BMS License Agreement. 
 (e) Other than the BMS License Agreement, to Ayala’s knowledge as of the
Effective Date, after reasonable inquiry of existing information reasonably available to Ayala, there are no other agreements to which Ayala is a Party or to which Ayala is subject which impair, or have the ability to impair, Ayala’s ability to
perform its obligations under this Agreement or Novartis’ rights under the License. 
 (f) To Ayala’s actual knowledge as of the
Effective Date (without any inference or duty of investigation), there are no errors in the inventorship set forth in any of the Patent applications comprising Ayala Patents. 

  
 30 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (g) To Ayala’s actual knowledge as of the Effective Date (without any inference or duty
of investigation), there is no litigation threatened, impending or existing relating to the Ayala Intellectual Property. 
 (h) To
Ayala’s actual knowledge as of the Effective Date (without any inference or duty of investigation), and except for any items cited or referred to in any of the Ayala Patents, there are no publications, issued Patents, published Patent
applications or public disclosures that could reasonably be expected to provide a sufficient basis to render invalid or unenforceable any of the Ayala Patents. 

(i) To Ayala’s actual knowledge as of the Effective Date (without any inference or duty of investigation), there are no Third Party
Patents, published Patent applications, or publications not yet disclosed to Novartis that could reasonably be expected to impair Novartis’ rights under the License. 

Section 11.3. MUTUAL LIMITATIONS ON WARRANTIES. EXCEPT AS SET FORTH IN SECTIONS 11.1 AND 11.2, OR OTHERWISE
EXPRESSLY PROVIDED IN THIS AGREEMENT, THE PARTIES MAKE NO OTHER REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY AS TO NON-INFRINGEMENT, VALIDITY, MERCHANTABILITY OR FITNESS FOR A
PARTICULAR USE OR PURPOSE OR ANY WARRANTY ARISING FROM COURSE OF DEALING OR USAGE OF TRADE. 
 ARTICLE XII 

COVENANTS; EXCLUSIVITY 

Section 12.1. Covenants of the Parties. 

12.1.1 Compliance with Laws. Throughout the Product Term, Ayala and Novartis will comply in all material respects with all Applicable
Laws, including the Act, concerning the Development, Manufacture and Commercialization of the Compound and the Products in the Field in the Territory. 

12.1.2 Pharmacovigilance. Prior to the dosing of the first patient in any human clinical trial in the Program, the Parties will enter
into a commercially reasonable pharmacovigilance agreement (the “Pharmacovigilance Agreement”), which will govern the exchange, sharing, and reporting of adverse event information. From the Effective Date until entry into the
Pharmacovigilance Agreement, Ayala shall retain sole responsibility for and be the primary contact for pharmacovigilance matters in respect of the Product outside the Field, subject to the terms of Section 2.4. After the
Option Exercise Date and following entry into the Pharmacovigilance Agreement, Ayala will allow Novartis to comply (and Novartis will be responsible for complying) with the adverse reaction reporting requirements of the Act, and other comparable
Applicable Laws outside the United States, with respect to Compound or Products in the Field. 

  
 31 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 12.1.3 Further Assurances. The Parties will execute and deliver any further or
additional instruments or documents and perform any acts which may be reasonably necessary in order to effectuate and carry out the purposes of this Agreement. 

Section 12.2. Exclusivity. 

12.2.1 Non-Compete. During the period commencing on the Option Exercise Date and continuing
until the end of the Product Term, except as explicitly contemplated in this Agreement with respect to the Compound and Products, (a) each Party agrees not to, and shall cause its Affiliates not to, directly or indirectly, alone or with any
Third Party (including by license or assignment of Patents), research, Develop or Commercialize any Exclusivity Product in the Field in the Territory; and (b) Ayala agrees not to, and shall cause its Affiliates not to, directly or indirectly,
alone or with any Third Party (including by license or assignment of Patents), research, Develop or Commercialize the Compound and/or Product in the Field. 

12.2.2 Acquired Programs. 

(a) Notwithstanding anything to the contrary in this Agreement, in the event of an acquisition of a Party or its business after the Option
Exercise Date by a Third Party (an “Acquirer”) whether by merger, asset purchase or otherwise and such Acquirer controls any program(s) that but for this Section 12.2.2, would violate
Section 12.2.1 (each such program, a “Competing Program”), then the Acquirer and any Affiliate of the Acquirer that becomes an Affiliate of the acquired Party as a result of such acquisition (but excluding
the acquired Party), shall not be subject to the restrictions in Section 12.2.1 as to any such Competing Programs in existence prior to the closing date of such acquisition, or for the subsequent Development and
Commercialization of such Competing Programs (including new products from any such Competing Programs); provided, however, that no Know-How or Patents of the other Party are used by or on behalf
of the Acquirer of the acquired Party (or any Affiliate of such Acquirer) in more than a de minimis fashion in connection with such subsequent Development and Commercialization of any Competing Programs. 

(b) Notwithstanding anything to the contrary in this Agreement, in the event a Party or any of its Affiliates (the “Acquiring
Party”) acquires or otherwise obtains rights to Develop or Commercialize any Exclusivity Product as the result of any license, merger, acquisition, reorganization, consolidation or combination with or of a Third Party or change of control
of such Party or any other transaction (each, an “Acquisition Transaction”, and the Third Party involved in such transaction, the “Acquisition Third Party”) and, on the date of the completion of such Acquisition
Transaction, such Exclusivity Product is being Developed or Commercialized in or by such Acquisition Third Party in a matter that, if done by such Party, would violate such Party’s exclusivity obligations in
Section 12.2.1, then the Acquiring Party or such Affiliate will, within [***] after the closing of such Acquisition Transaction, provide written notice to the other Party that the Acquiring Party or such Affiliate
has acquired rights to Develop or Commercialize a Exclusivity Product as a result of an Acquisition Transaction. Within [***] after the receipt of such notice, the Acquiring Party will (i) give notice of its intent to divest its rights
to such Exclusivity Product, or (ii) cease the Development and Commercialization of such Exclusivity Product. Alternatively, the Parties may, upon mutual written agreement, elect to include such Exclusivity Product as if it were a
“Product” for all purposes of this Agreement (including determination of Net Sales, milestone payments, and other payments, consistent with the terms of this Agreement, provided that any such payments will be payable on such
Exclusivity Product in addition to being payable on all Products), which election will be effective retroactively to the date of the closing of such Acquisition Transaction. [***]. 

  
 32 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 ARTICLE XIII 

CONFIDENTIAL INFORMATION 

Section 13.1. Confidentiality. 

13.1.1 General Obligations of Non-Use and
Non-Disclosure. Each Party agrees that during the Product Term and at all times thereafter, it shall keep, and cause its Affiliates and sublicensees, if any, to keep confidential all Confidential
Information of the other Party using not less than the efforts such Party uses to maintain in confidence its own proprietary industrial information of similar kind and value, and neither Party nor any of its Affiliates or sublicensees, if any, will
use or disclose to any Third Party the Confidential Information of the other Party except as expressly permitted in this Agreement. The Parties acknowledge that Confidential Information may have been disclosed by either Party or its Affiliates to
the other Party or its Affiliates pursuant to the Confidentiality Agreement. All information disclosed pursuant to the Confidentiality Agreement will be deemed Confidential Information of the Disclosing Party within the meaning of this Agreement and
subject to the terms hereof. 
 13.1.2 Permitted Disclosures. Notwithstanding the foregoing, the Receiving Party may (a) disclose
it to government agencies and others where such information may be required to be included in Patent applications or regulatory filings permitted under the terms of this Agreement; (b) provide it to Third Parties solely on a “need to
know” basis under agreements including confidentiality and non-use provisions at least as restrictive as those in this Agreement for consulting, market research, Manufacturing, Development, and
preclinical and clinical testing with respect to the Products in connection with performance under this Agreement; (c) prosecuting or defending litigation in relation to the Ayala Intellectual Property or this Agreement, including responding to
a subpoena in a Third Party litigation, provided it has used good faith and reasonable efforts to obtain a protective order for such Confidential Information or (d) publish it if and to the extent such publication has been approved in writing
by the Disclosing Party. In each of the foregoing cases, the Receiving Party will use diligent efforts to limit the disclosure and maintain confidentiality to the extent possible and the Receiving Party shall remain responsible for any failure by
any Person who receives Confidential Information pursuant to this Article XIII to treat such Confidential Information as required under this Article XIII. If and whenever any Confidential Information is disclosed in
accordance with this Section 13.1.2, such disclosure shall not cause any such information to cease to be Confidential Information except to the extent that such disclosure results in a public disclosure of such information
(otherwise than by breach of this Agreement). Where reasonably possible and subject to Section 13.1.3, the Receiving Party shall notify the Disclosing Party of the Receiving Party’s intent to make such disclosure
pursuant to this Section 13.1.2 sufficiently prior to making such disclosure so as to allow the Disclosing Party adequate time to take whatever action it may deem appropriate to protect the confidentiality of the
information. 

  
 33 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 13.1.3 Required Disclosures. The Receiving Party will be entitled to disclose
Confidential Information where such disclosure is reasonably necessary to enforce its rights pursuant to this Agreement or where demand for such disclosure is made on the Receiving Party pursuant to: (a) a valid order of a court or other
Governmental Authority or (b) any other Applicable Laws; provided that if the Receiving Party intends to make such disclosure or receives such demand, the Receiving Party shall give the Disclosing Party prompt notice of such fact to
enable the Disclosing Party to seek a protective order or other appropriate remedy concerning any such disclosure. The Receiving Party will fully co-operate with the Disclosing Party at the Disclosing
Party’s expense in connection with the Disclosing Party’s efforts to obtain any such order or other remedy. If any such order or other remedy does not fully preclude disclosure, the Receiving Party will make such disclosure only to the
extent that such disclosure is legally required. 
 13.1.4 Terms of this Agreement. The Parties acknowledge that the terms of this
Agreement shall be treated as Confidential Information of both Parties. For the avoidance of doubt, this Section 13.1.4 shall in no way prevent a Party from disclosing the existence of this Agreement or any terms of this
Agreement in order to seek legal advice whenever deemed appropriate by such Party or to enforce such Party’s rights under this Agreement, whether through arbitral proceedings, court proceedings or otherwise, or to defend itself against
allegations or claims relating to this Agreement, or to comply with Applicable Law (except as provided in Section 13.3 below) when advised in a written opinion of outside counsel that terms of the Agreement are required to
be disclosed to comply with Applicable Law. 
 13.1.5 Acknowledgment. Each Party hereby acknowledges that the Confidential Information
of the other Party is highly valuable, proprietary and confidential and that any disclosure to any officer, employee, or agent of such Party or any of its Affiliates will be made only to the extent necessary to carry out its responsibilities under
this Agreement and only if such officer, employee or agent is informed of the confidential nature thereof and shall have agreed to hold such information in confidence under confidentiality provisions at least as stringent as those provided in this
Agreement. 
 13.1.6 Remedies. The Parties agree that the obligations of this Section 13.1 are necessary and
reasonable in order to protect the Parties’ respective businesses, and that monetary damages alone may be inadequate to compensate a Party for any breach by the other Party of its covenants and agreements set forth herein. The Parties agree
that any breach or threatened breach of this Section 13.1 may cause irreparable injury to the injured Party for which damages may not be an adequate remedy and that, in addition to any other remedies that may be available,
in law and equity or otherwise, such Party will be entitled to seek equitable relief against the breach or threatened breach of the provisions of this Section 13.1. 

13.1.7 Destruction or Return. Following termination or expiration of this Agreement for any reason and at the request of the other, each
Party will destroy all physical records or embodiments of Confidential Information of the other Party or return such information to the other Party, at the returning Party’s expense, and an officer of such Party shall certify to the other Party
that all such items have been so returned or destroyed; provided, however, that each Party will be entitled to maintain one copy of the Confidential Information of the other Party solely for the purpose of monitoring its continuing
obligations hereunder. 

  
 34 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Section 13.2. Disclosure to Investors; Public Announcements. The Parties have
agreed on an initial press release of the transaction contemplated by this Agreement which is attached hereto as Exhibit D-1 (the “Initial Press Release”) and a
conditional follow-on press release for issuance following exercise of the Option hereunder which is attached hereto as Exhibit D-2 (the
“Follow-On Press Release”). The Initial Press Release may be issued by Ayala or Novartis after the Effective Date, and the Follow-On Press Release may
be issued or used by Ayala or Novartis solely after the Option Exercise Date. Other than the Initial Press Release, and, if applicable, the Follow-On Press Release, neither Party will originate any publicity,
news release or public announcement, written or oral, whether to the public, the press, stockholders or otherwise, disclosing the performance under this Agreement or any of its specific terms and conditions without the prior written approval of the
other Party, except such announcements, as in the opinion of the counsel for the Party making such announcement, are required by law. If a Party decides to make an announcement it believes to be required by Applicable Laws with respect to this
Agreement, it will give the other Party such notice as is reasonably practicable and the Parties will work together in good faith to attempt to agree on the content of the disclosure. Notwithstanding the foregoing, Ayala will also have the right to
provide investors and potential investors in Ayala with information regarding this Agreement and the terms thereof either (a) pursuant to confidentiality restrictions at least as stringent as those set forth herein which are binding on such
Persons or (b) in disclosure documents filed in connection with a public offering or as a public company, provided that Novartis has approved such disclosure (such approval not to be unreasonably withheld or delayed) and Ayala has made
all permitted redactions under applicable regulatory requirements. Notwithstanding the foregoing, or anything in this Agreement to the contrary, nothing in this Agreement will prevent Ayala or its designee from disclosing Program Improvements or
from filing Patent applications which may include Program Improvements or Novartis’ Confidential Information. 
 Section 13.3.
Securities Filings. Notwithstanding anything to the contrary in this Agreement, in the event either Party proposes to file with the Securities and Exchange Commission or the securities regulators of any state or other jurisdiction a
registration statement or any other disclosure document which describes or refers to this Agreement under the Securities Act of 1933, as amended, the Securities Exchange Act, of 1934, as amended, any other securities Applicable Law or the rules of
any national securities exchange, the Party shall notify the other Party of such intention and shall use reasonable efforts to provide such other Party with a copy of relevant portions of the proposed filing not less than [***] prior to (but
in no event later than [***] prior to) such filing (and any revisions to such portions of the proposed filing a reasonable time prior to the filing thereof), including any exhibits thereto relating to this Agreement, and shall use reasonable
efforts to obtain confidential treatment of any information concerning this Agreement that such other Party requests be kept confidential, and shall only disclose Confidential Information which is legally required to be disclosed. No such notice
shall be required under this Section 13.3 if the substance of the description of or reference to this Agreement contained in the proposed filing has been included in any previous filing made by the either Party hereunder or
otherwise approved by the other Party. 

  
 35 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 ARTICLE XIV 

TERM AND TERMINATION 

Section 14.1. Term. This Agreement will remain in effect for the Product Term. 

Section 14.2. Termination by Ayala. 

14.2.1 For Material Breach. Ayala may terminate this Agreement immediately in the event of a material breach by Novartis or its
Affiliates of this Agreement, provided that Novartis has received written notice from Ayala of such breach, specifying in reasonable detail the particulars of the alleged breach, and such breach has not been cured within sixty (60) days
after the date of the relevant notice. In the event that such a breach (other than the nonpayment of a material amount due where such amount is subject to a bona fide dispute between the Parties) may not be reasonably cured in sixty (60) days,
then such cure period will be extended for an additional period during which Novartis is making good faith efforts to cure such breach. 

14.2.2 For Patent Challenge. If Novartis (or any of its Affiliates) challenges or knowingly supports a Third Party in challenging (other
than in response to a subpoena or court order), in a judicial or administrative proceeding, including by providing information, documents, or funding, the validity, scope or enforceability of or otherwise opposes any of the Ayala Patents, this
Agreement will continue in full force and effect; provided, however, that the milestone payments set forth in Section 5.1.1 and 5.1.2 for any unachieved milestones, and the royalties payable as set
forth in Section 5.2, will be [***], and [***]. 
 14.2.3 For Failure to Develop or
Commercialize. Ayala shall have the right to terminate this Agreement in its entirety in the event that Novartis fails to fulfill its obligations to Develop Compounds and/or Products in accordance with Section 7.1.1 or
to Commercialize Products in accordance with Section 7.4, provided that Novartis has not cured such breach within four (4) months following written notice by Ayala which notice shall be labeled as a “notice
of material breach for failure to use Commercially Reasonable Efforts,” and in the case of an alleged breach of Section 7.4, identifies the countries in the Territory in which such breach has occurred. Any such
termination of this Agreement shall become effective at the end of the applicable cure period, unless Novartis has cured any such breach or default prior to the expiration of such cure period. The cure period shall be tolled pending resolution of
any bona fide dispute between the Parties as to whether any such material breach has occurred. 
 14.2.4 Consequences of Termination Pre-Option Exercise Date. If Ayala terminates this Agreement pursuant to Section 14.2.1, or Section 14.2.3 before the Option Exercise Date, (a) all rights
to Ayala Intellectual Property granted to Novartis, and any other rights granted by Ayala hereunder, will automatically terminate and (b) Ayala will have the rights specified in Section 3.4. 

  
 36 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 14.2.5 Consequences of Termination Post-Option Exercise Date. If Ayala terminates this
Agreement pursuant to Section 14.2.1 or Section 14.2.3 after the Option Exercise Date, the License granted to Novartis, and any other rights granted by Ayala hereunder, will automatically terminate
and the following obligations will apply (the “Program Transfer Provisions”): 
 (a) Novartis will promptly provide to
Ayala complete documentation of all preclinical and clinical data and all regulatory data, in each case regarding Compound or any Product and generated by or on behalf of Novartis, and Novartis shall grant and does hereby grant to Ayala a worldwide,
irrevocable, exclusive license (with the right to sublicense) for the use of all such data solely to research, Develop, Manufacture, have Manufactured and Commercialize Compound and Products whether within or outside the Field; provided,
however, that Novartis will not be required to transfer or grant a license to any CMC, preclinical and clinical data and all regulatory data relating to any Novartis-or Third Party-proprietary compound or product or the combination of the
Compound and/or Product with a Novartis- or Third Party-proprietary compound or product. For the avoidance of doubt, in no event will Novartis be required to transfer Regulatory Approvals for the Compound or Product or to otherwise maintain such
Regulatory Approvals in force or effect other than with respect to an NDA in the United States or an equivalent marketing authorization elsewhere in the Territory, or to provide any information or data (or transfer any regulatory filings, regulatory
correspondence, or Regulatory Approvals) relating to any compound or product other than the Compound and/or Product. If, at the time of termination, patients are enrolled in a Novartis-sponsored study or studies involving the Compound or any Product
as single agent or in combination, and such patients are required for ethical or otherwise legal reasons to be offered continued treatment, both Parties will seek a joint solution to ensure that such patients continue to receive the necessary
treatment, which may include the need for Novartis to maintain the sponsorship of such clinical study or studies until approval for an alternative access mechanism is obtained and/or such patients discontinue participation in the studies, whichever
comes first. 
 (b) Where any Third Party rights have been obtained by Novartis or its Affiliates for purposes of the Program, and in each
case solely for purposes of Developing, Manufacturing, having Manufactured and Commercializing Compound and any Products, Novartis will, if practical, provide Ayala the opportunity to acquire a non-exclusive
license under such Third Party rights where Controlled by Novartis, such terms, to the extent reasonably practicable, to be on the same financial terms as Novartis or its Affiliates have with respect to such Third Party rights. 

(c) Novartis will offer to sell to Ayala, [***], any supplies of Compound and any other inventories or supplies obtained by Novartis or
its Affiliates for purposes of the Program. Ayala will have [***] following the effective date of termination to notify Novartis in writing that it elects to purchase any such Compound or supplies. 

(d) Novartis will make personnel (as well as the personnel of its Affiliates) reasonably available to Ayala to effect an orderly transition to
Ayala of the information and rights contemplated above in this Section 14.2.5 for a period of up to [***] following the transfer of the documentation set forth in Section 14.2.5(a). 

  
 37 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (e) As to any Product which is being marketed under a trademark Controlled by Novartis or
its Affiliates used exclusively with Products, Novartis will offer to grant (or cause its Affiliate to offer to grant) Ayala a worldwide, exclusive license (with the right to sublicense) for the use of such trademark solely to make, have made, use,
import, offer to sell, sell, and have sold such Products, on mutually agreeable terms. Ayala will notify Novartis in writing prior to the effective date of termination if it elects (on a Product-by-Product basis, if applicable) to enter into a license with respect to such trademark. 

Section 14.3. Termination by Novartis. 

14.3.1 For Material Breach or Bankruptcy Event. Novartis may terminate this Agreement upon written notice to Ayala (a) in its
entirety or on a country-by-country basis for any reason, upon sixty (60) days’ written notice to Ayala, (b) immediately in the event of a material breach
by Ayala or its Affiliates of this Agreement, provided that Ayala has received written notice from Novartis of such breach, specifying in reasonable detail the particulars of the alleged breach, such breach is continuing for sixty
(60) days after such notice and such breach has not been cured within such sixty (60) day period (except that, in the event such breach may not be reasonably cured in sixty (60) days, then such cure period will be extended for an
additional period during which Ayala is making good faith attempts to cure such breach); and (c) immediately in the event (i) that Ayala becomes insolvent or is unable to pay its debts when due; (ii) Ayala files a petition in
bankruptcy, reorganization or similar proceeding, or, if such a petition is filed against Ayala, such petition is not dismissed within [***]; (iii) Ayala discontinues its business; or (iv) a receiver is appointed or there is an assignment for
the benefit of Ayala’s creditors. 
 14.3.2 Consequences of Termination Pre-Option Exercise
Date. If Novartis terminates this Agreement pursuant to Section 14.3.1(a) before the Option Exercise Date, Ayala will have the rights specified in Section 3.4. 

14.3.3 Consequences of Termination Post-Option Exercise Date. If Novartis terminates this Agreement pursuant to
Section 14.3.1(a) after the Option Exercise Date, the Program Transfer Provisions will apply. 
 14.3.4 Certain Sell-Off Rights. For the avoidance of doubt, upon Novartis’ termination of this Agreement pursuant to Section 14.3.1(a), Novartis’ rights included in the relevant licenses
granted by Ayala to Novartis under this Agreement will immediately and automatically revert to Ayala; provided, however, that Novartis will have [***] from Novartis’ termination of this Agreement to complete the sale of any
Product then in inventory, subject to payment of royalties and milestone payments pursuant to Article V. Any such Compounds that are GMP shall be accompanied by a certificate of analysis, certificate of manufacturing, batch
records and other such documentation, information materials as may be required under Applicable Laws to enable sale of such materials, including written certification that such materials were both (a) manufactured, and (b) stored and
handled at all times following such manufacture, in accordance with GMP. 
 14.3.5 Certain Consequences of Termination. If Novartis
terminates the Agreement pursuant to Section 14.3.1(b) or (c), then (a) Ayala’s License grant to Novartis will convert to an irrevocable exclusive License, with the right to sublicense, and will survive
termination, and (b) the obligations of the Parties under Article V will also survive such termination in addition to the other Sections identified in Section 14.5; provided,
however, that if the facts that form the basis of the termination have, or are likely to have, a material adverse effect 

  
 38 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 
on the Development or Commercialization of the Compound or Products, Novartis may elect to pursue, through dispute resolution as contemplated by Section 17.3, a downward
adjustment of the amount of any royalty or milestone payments otherwise due from Novartis to Ayala under Article V following the effective date of such termination, with the intent of the Parties being that in this limited
circumstance the arbitrator(s) will have the authority to lower such payment amounts (if the arbitrators determine that, in fact, any adjustment is warranted) to those which are determined by the arbitrator(s) to be reasonable (i.e., such as
would have prevailed at the time of the original negotiation of this Agreement) in light of the facts leading to the termination and the economic expectations of Novartis in entering into this Agreement (with the Parties expressly acknowledging that
any such adjustment will not, with reference to any other provision of this Agreement, be construed as consequential or otherwise impermissible damages); This provision is not intended as an exclusive remedy and Novartis will retain any other rights
it may have under such circumstances under Applicable Law. 
 Section 14.4. Rights and Duties Upon Termination or Expiration.
Upon the termination or expiration of this Agreement, each Party will have the right to retain all payments from the other Party properly made pursuant to this Agreement, and each Party shall pay to the other all sums accrued hereunder which are
then due. 
 Section 14.5. Survival. Upon termination or expiration of the Product Term, except as specifically provided herein
to the contrary, all rights and obligations of the Parties under this Agreement will cease, except for the following rights and obligations which will survive such termination or expiration: 

(a) If termination occurs prior to Novartis’ exercise of the Option, (i) Section 2.3.1(e), and (ii) the rights and
obligations of the Parties under Section 3.4, as well as those provisions identified in Section 14.5(d) to Section 14.5(g) below. 

(b) If termination occurs after the License to Novartis becomes an irrevocable License pursuant to Section 14.3.5,
Novartis’ rights to the License under Section 4.1 (as converted to an irrevocable License) and right to sublicense under Section 4.2, the Parties’ rights and obligations pursuant to
Article V, Section IX, Article IX and Sections 12.2 and 17.1, as well as those provisions identified in Section 14.5(c) to
Section 14.5(g) below. 
 (c) All obligations for record keeping and accounting reports and inspection rights
described in Section 5.2.6. 
 (d) The Parties’ rights and obligations with respect to intellectual property
as described in Section 8.1 and Section 8.2. 
 (e) The Parties’ rights and
obligations (including with respect to any representations or warranties made herein) arising prior to the effective date of such termination, or as a result of such termination, or which may thereafter come into being as the result of the breach of
any of the terms or conditions of this Agreement that survive the termination or expiration of this Agreement pursuant to this Section 14.5. 

  
 39 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (f) The Parties’ rights and immunities pursuant to the disclaimers set forth in
Section 11.3. 
 (g) The Parties’ rights and obligations under the following additional provisions:
Article I (Definitions); Section 5.3 (Taxes); Section 5.5 (Financial Reporting); Article XIII (Confidential Information); Article XIV (Term
and Termination); Article XV (Indemnification and Limitation of Liability); Section 17.2 (Governing Law); Section 17.3 (Dispute Resolution);
Section 17.7 (Notices); Section 17.13 (Interest on Late Payments); Section 17.15; (Headings and References); Section 17.16 (Construction) and
Section 17.17 (No Strict Construction). 
 ARTICLE XV 

INDEMNIFICATION AND LIMITATION OF LIABILITY 

Section 15.1. Indemnification by Novartis. In addition to any other rights Ayala may have at law or in equity, Novartis will
indemnify, defend and hold harmless Ayala and its Affiliates and their respective employees, officers and directors, and their successors and assigns (each, a “Ayala Indemnified Party”), from and against any and all Damages which
the Ayala Indemnified Party may incur, suffer or be required to pay to the extent resulting from or arising out of Claims by Third Parties and not subject to indemnification by Ayala pursuant to Section 15.2, arising out of
or relating to: (a) the research, Development, Commercialization (including promotion, advertising, offering for sale, sale or other disposition), transfer, importation or exportation, manufacture, labeling, handling or storage, or use of, or
exposure to, any Compound or any Product by or for Novartis or any of its Affiliates, distributors, sublicensees, agents and contractors, including claims and threatened claims based on product liability, bodily injury, risk of bodily injury, death
or property damage, infringement or misappropriation of Third Party patents, copyrights, trademarks or other intellectual property rights (except to the extent such infringement or misappropriation results from a breach of
Section 11.2), or the failure to comply with Applicable Laws related to the matters referred to in this subsection (a) with respect to any Compound or any Product; (b) the enforcement and defense of the Ayala
Patents by Novartis, its Affiliates, sublicensees, representatives and agents; (c) any breach of any representation, warranty or covenant of Novartis in this Agreement; and/or (d) the gross negligence, recklessness or willful misconduct of
Novartis or its Affiliates or its or their respective directors, officers, employees and agents, in connection with Novartis’ performance of its obligations or exercise of its rights under this Agreement. 

Section 15.2. Indemnification by Ayala. In addition to any other rights Novartis may have at law or in equity, Ayala will
indemnify, defend and hold harmless Novartis and its Affiliates and their respective employees, officers and directors, and their successors and assigns (each, an “Novartis Indemnified Party”), from and against any and all Damages
which the Novartis Indemnified Party may incur, suffer or be required to pay to the extent resulting from or arising out of Claims by Third Parties and not subject to indemnification by Novartis pursuant to Section 15.1,
arising out of or relating to: (a) the research, Development, Commercialization (including promotion, advertising, offering for sale, sale or other disposition), transfer, importation or exportation, manufacture, labeling, handling or storage,
or use of, or exposure to, any Compound or any Product by or for Ayala or any of its Affiliates, distributors, sublicensees, agents 

  
 40 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 
and contractors outside of the Field, including claims and threatened claims based on product liability, bodily injury, risk of bodily injury, death or property damage, infringement or
misappropriation of Third Party patents, copyrights, trademarks or other intellectual property rights, or the failure to comply with Applicable Laws related to the matters referred to in this subsection (a) with respect to any Compound or any
Product; (b) based on any material breach of any representation, warranty or covenant of Ayala in this Agreement; and/or (c) the gross negligence, recklessness or willful misconduct of Ayala or its Affiliates or its or their respective
directors, officers, employees and agents, in connection with Ayala’s performance of its obligations or exercise of its rights under this Agreement. 

Section 15.3. Conditions of Indemnification of Third-Party Claims. The obligations and liabilities of an indemnifying Party under
Section 15.1 or 15.2 hereof with respect to Damages resulting from Claims by Third Parties will be subject to the following terms and conditions: 

(a) Promptly after the delivery of a notice seeking indemnification in respect of a Claim and subject to
Section 15.3(c), the indemnifying Party may elect, by written notice to the indemnified Party, to undertake the defense thereof, at the sole cost and expense of the indemnifying Party. If the indemnifying Party chooses to
defend any Claim, the indemnified Party shall cooperate with all reasonable requests of the indemnifying Party and shall make available to the indemnifying Party any books, records or other documents within its control that are necessary or
appropriate for such defense. 
 (b) In the event that the indemnifying Party, within a reasonable time after receipt of a notice seeking
indemnification, does not so elect to defend such Claim, the indemnified Party will have the right (upon further notice to the indemnifying Party) to undertake the defense, compromise or settlement of such Claim for the account of the indemnifying
Party, subject to the right of the indemnifying Party to assume the defense of such Claim pursuant to the terms of Section 15.3(a) at any time prior to settlement, compromise or final determination thereof, provided,
that the indemnifying Party reimburses in full all costs of the indemnified Party (including reasonable attorney’s fees and expenses) incurred by it in connection with such defense prior to such assumption. 

(c) Notwithstanding anything in this Section 15.3 to the contrary, if the indemnifying Party assumes the defense of
any Claim, any indemnified Party will be entitled to participate in the defense, compromise or settlement of such Claim with counsel of its own choice at its own expense, provided, however, if the representation by the indemnifying
Party’s counsel would present a conflict of interest, then such indemnified Party shall be entitled to participate in the defense, compromise or settlement of such Claim with counsel of its own choice at the expense of the indemnifying Party.

 Section 15.4. Insurance. Novartis shall, beginning with the initiation of the first Clinical Study for a Product, maintain at
all times thereafter during the Product Term, and until the later of (a) [***] after termination or expiration of this Agreement or (b) the date that all statutes of limitation covering claims or suits that may be brought for personal
injury based on the sale or use of a Product have expired, insurance relating to the Product from a recognized, creditworthy insurance company, on a claims-made basis, with endorsements for contractual liability and for clinical trial and product
liability, that is comparable in type and amount to the insurance 

  
 41 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 
customarily maintained by Novartis with respect to similar prescription pharmaceutical products that are marketed, distributed and sold in the Territory or otherwise participate in a commercially
reasonable comparable program of self-insurance; provided that if Novartis does not market, distribute and sell any such similar pharmaceutical products, such insurance or program of self-insurance shall be comparable in type and amount to
the insurance customarily maintained by a company within the bio-pharmaceutical industry. Novartis shall name Ayala as an additional insured on all related third party insurance policies relating to the
Compound and/or Product. Within [***] following the initiation of the first clinical trial for a Product, and within [***] following any material change or cancellation in coverage, Novartis shall furnish to Ayala a certificate of
insurance evidencing third party insurance coverage as of such date (if applicable), and in the case of cancellation, provide a certificate evidencing that Novartis’ replacement coverage meets the requirements in the first sentence of this
Section 15.4. The foregoing insurance requirement shall not be construed to create a limit on the Novartis’ liability hereunder. 

Section 15.5. Settlements. No Person who has undertaken to defend a Claim under Sections 15.3(a) or
15.3(b) will, without written consent of all indemnified Parties, settle or compromise any Claim or consent to entry of any judgment, provided, however, that such consent will not be required if such settlement, compromise or
judgment (a) includes as an unconditional term thereof the release by the claimant or the plaintiff of all indemnified Parties from all liability arising from events which allegedly gave rise to such Claim and (b) contains no restriction,
limitation or prohibition of any kind on the manner in which any indemnified Party conducts its business. Any payment made by a Party to settle a Claim against it without obtaining consent of the indemnifying Party will be [***].
Notwithstanding the foregoing, the indemnifying Party will be liable under this Article XV for any settlement effected without its consent if the indemnifying Party has refused to acknowledge liability for indemnification
hereunder and/or declines to defend the indemnified Party in any such Claim, action or proceeding and it is determined that the indemnifying Party was liable to the indemnified Party for indemnification related to such settlement. 

Section 15.6. Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NEITHER PARTY SHALL BE LIABLE TO
THE OTHER WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT, WHETHER UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY, FOR ANY INCIDENTAL, INDIRECT, SPECIAL, EXEMPLARY, PUNITIVE, MULTIPLE, OR CONSEQUENTIAL
DAMAGES (INCLUDING LOST PROFITS, LOSS OF USE, DAMAGE TO GOODWILL, OR LOSS OF BUSINESS); PROVIDED, HOWEVER, THAT THE FOREGOING SHALL NOT APPLY TO ANY BREACH BY A PARTY OF Article XIII OR
Section 12.2 HEREOF, THE WILLFUL BREACH, WILLFUL MISCONDUCT, OR GROSS NEGLIGENCE BY A PARTY, OR FOR AMOUNTS SOUGHT BY THIRD PARTIES IN CLAIMS THAT ARE SUBJECT TO THE PARTIES’ RESPECTIVE INDEMNITY OBLIGATIONS UNDER THIS
Article XV. 

  
 42 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 ARTICLE XVI 

MANUFACTURING AND SUPPLY TERMS 

Section 16.1. Manufacture and Supply of Product. Ayala (itself or through an Affiliate or a Third Party that is selected by Ayala
and acceptable to Novartis) (the “Approved Manufacturer”) shall have the exclusive right and responsibility to Manufacture and supply Product for Novartis’ requirements and use in Development in the Field in the Territory prior
to exercise of the Option, including the Clinical Evaluation Materials, in accordance with the terms and conditions of this Article XVI, the Supply Agreement, and the Quality Agreement. To the extent that Novartis requires
additional supply of Product following the exercise of the Option to prevent disruption of supply for subsequent clinical trials, the Parties will negotiate in good faith the terms of a mutually acceptable supply agreement. 

Section 16.2. Pass-Through Costs. Ayala shall have the right to invoice Novartis on a monthly basis for the costs associated with
Development and contracting for Manufacture of the Compound and/or Product by any Approved Manufacturer. 
 ARTICLE XVII 

MISCELLANEOUS 

Section 17.1. Certain Events. 

(a) It is the intention of Novartis and Ayala that Novartis’ rights under this Agreement will remain in place if Ayala files a petition
in bankruptcy, is adjudicated as bankrupt or files a petition or otherwise seeks relief under any bankruptcy, insolvency or reorganization statue or proceeding, or a petition in bankruptcy is filed against it or is not dismissed within [***], or it
becomes insolvent or makes an assignment for the benefit of creditors or a custodian, receiver or trustee is appointed for it or a substantial portion of its business or assets or it admits in writing its inability to pay its debts as they become
due. It is the intention of Novartis and Ayala that Novartis’ exclusive rights and licenses to commercialize and market Products in the Field in the Territory continue, without impairment, if and after any bankruptcy event described in this
Section 17.1(a). 
 (b) All rights and licenses granted under this Agreement by Ayala to Novartis are, and will
otherwise be deemed to be, for purposes of Section 365(n) of the Bankruptcy Code, licenses or other rights to “intellectual property” as defined under Section 101(52) of the Bankruptcy Code. Ayala and Novartis agree that
Novartis, as licensee of such rights under this Agreement, will retain and may fully exercise all of its rights and elections under the Bankruptcy Code. Ayala and Novartis further agree that, in the event of the commencement of a bankruptcy
proceeding by or against Ayala under the Bankruptcy Code, Novartis will be entitled, to the extent practicable, to a complete duplicate of all embodiments of such intellectual property, and such items, if not already in its possession, will be
promptly delivered to Novartis upon (i) any such commencement of a bankruptcy proceeding unless Ayala elects to continue to perform all of its obligations under this Agreement or (ii) if not delivered under (i) above, immediately upon
the rejection of this Agreement by or on behalf of Ayala. 

  
 43 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (c) If, under the Bankruptcy Code or successor similar law, a trustee in bankruptcy of
Ayala, or Ayala, as debtor, desires to assign this Agreement to a Third Party in accordance with the Bankruptcy Code, the trustee or Ayala, as the case may be (in either case, the “Debtor”), shall notify Novartis. The notice will
set out the name and address of the proposed assignee, the proposed consideration for the assignment and all other relevant data about the proposed assignment. The giving of this notice will constitute the grant to Novartis of an option to have this
Agreement assigned to Novartis or to Novartis’ designee for the consideration, or its equivalent in money, and upon the terms specified in the notice. The option may be exercised only by notice given by Novartis to the Debtor no later than
[***] after Novartis’ receipt of the notice from the Debtor unless a shorter period is deemed appropriate by the court in the bankruptcy proceeding. If Novartis does not exercise its option in a timely manner, then the Debtor may complete the
assignment, but only if the assignment is to the entity named in the notice and for the consideration and upon the terms specified in the notice. Nothing in this Section 17.1 is intended to impair any rights which Novartis
may have as a creditor in the bankruptcy proceeding. 
 Section 17.2. Governing Law. For all matters other than the scope and
validity of Patents, this Agreement shall be deemed to have been made in the State of New York and its form, execution, validity, construction and effect shall be determined in accordance with the laws of the State of New York, without giving effect
to the principles of conflicts of law thereof and the Parties agree to the personal jurisdiction of and venue in any federal court located in the Southern District of New York or state court located in New York County, New York. The application of
the United Nations Convention for Contracts for the International Sales of Goods is hereby expressly excluded. 
 Section 17.3.
Dispute Resolution. Any dispute, claim or controversy arising out of or relating to this Agreement will be resolved in accordance with Exhibit E attached hereto. 

Section 17.4. Assignment and Binding Effect. 

(a) This Agreement may not be assigned by either Party without the prior written consent of the other, except as otherwise permitted under
this Section 17.4. 
 (b) Either Party may assign this Agreement to an Affiliate or to a Third Party without such
prior written consent as part of a merger, consolidation, sale, or transfer of all or substantially all its assets relating to the Program, but only if the assignee (i) has or simultaneously acquires all of the necessary rights and other assets
to perform such Party’s obligations under this Agreement and (ii) agrees that it will have no right to participate in any activity or require the other Party to perform any obligation under this Agreement that would require the other Party
or its Affiliates to disclose Confidential Information to such Third Party (other than the information required to be disclosed pursuant to Section 5.2.4 or following any termination pursuant to
Article XIV) and to waive any rights with respect thereto, unless the other Party consents to such assignment (such consent not to be unreasonably withheld or delayed); and provided, that, with respect to Novartis,
such Third Party shall not be, at the time of such assignment, a licensee or sublicensee of any other Third Party’s Exclusivity Product. 

  
 44 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 (c) No assignment under this Section 17.4 shall be effective
unless the intended assignee executes and delivers to the Party which is not the assignor a writing whereby the assignee expressly undertakes to perform and comply with all of its assignor’s obligations hereunder (including, for clarity, any
requirements for the assignor to exercise Commercially Reasonable Efforts with respect to any obligations hereunder). Notwithstanding such undertaking, such assignor shall continue to be primarily liable for such assignee’s performance hereof
and compliance herewith. 
 (d) Any assignment in violation of this Section 17.4 shall be void and of no effect.

 (e) This Agreement, and the rights and duties of the Parties therein contained, shall be binding upon, and shall inure to the benefit of,
the Parties and their respective legal representatives, successors and permitted assigns. 
 Section 17.5. Independent Contractor
Status. The relationship of the Parties hereto is that of independent contractors. Nothing in this Agreement will be construed to constitute, create, give effect or otherwise imply a joint venture, agency, partnership or other formal business
organization or any employer/employee relationship of any kind between the Parties. 
 Section 17.6. Extension to Affiliates.
Novartis will have the right to extend the rights, immunities and obligations granted in this Agreement to one or more of its Affiliates. All applicable terms and provisions of this Agreement will apply to any such Affiliate to which this Agreement
has been extended to the same extent as such terms and provisions apply to Novartis. Novartis will remain primarily liable for any acts or omissions of its Affiliates. 

Section 17.7. Notices. All notices, requests and other communications required or permitted to be given hereunder or with respect
hereto will be in writing, and may be given by (a) personal service, (b) registered first-class United States mail, postage prepaid, return receipt requested, or (c) overnight delivery service, charges prepaid, and in each case
addressed to the other Party at the address for such Party as set forth below, and shall be effective upon receipt in the case of clauses (a) or (c) above, and five (5) days after mailing in the case of clause (b) above. 

If to Novartis, a copy to Novartis’ Alliance Manager by email and to: 

Novartis International Pharmaceutical Ltd 

Lichtstrasse 35 
 CH-4056 Basel 
 Switzerland 

With a required copy to: 

Novartis Institutes for BioMedical Research, Inc. 

250 Massachusetts Avenue 

Cambridge, MA 02139 USA 

Attn: General Counsel 

  
 45 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 If to Ayala, a copy to Ayala’s Alliance Manager by email and to: 

Ayala Pharmaceuticals, Inc. 
 c/o
PHS Corporate Services 
 1313 N. Market Street, Suite 5100 

Wilmington, DE 19801 
 The address of either
Party set forth above may be changed from time to time by written notice in the manner prescribed herein from the Party requesting the change. 

Section 17.8. Waivers. The waiver by either Party of a default or a breach of any provision of this Agreement by the other Party
will not operate or be construed to operate as a waiver of any subsequent default or breach. The continued performance by either Party with knowledge of the existence of a default or breach will not operate or be construed to operate as a waiver of
any default or breach. Any waiver by a Party of a particular provision or right will be in writing, will be as to a particular matter and, if applicable, for a particular period of time and will be signed by such Party. 

Section 17.9. Entire Agreement. This Agreement (including the Exhibits hereto), together with the Confidentiality Agreement,
Pharmacovigilance Agreement, Supply Agreement, and the Quality Agreement, constitutes the entire agreement between the Parties with respect to the subject matter hereof, superseding all prior agreements and negotiations, and may be modified only by
written agreement executed by both Parties. 
 Section 17.10. Severability. If any provision in this Agreement is deemed to be,
or becomes, invalid, illegal, void or unenforceable under Applicable Laws, then: (a) it will be deleted and the validity, legality and enforceability of the remaining provisions of this Agreement shall not be impaired or affected in any way,
and (b) the Parties will use endeavor to substitute for the invalid, illegal or unenforceable provision a valid, legal and enforceable provision which conforms as nearly as possible with the original intent of the Parties. 

Section 17.11. Counterparts. This Agreement may be executed in more than one counterpart, each of which shall be deemed to be an
original but all of which taken together shall be deemed a single instrument. A facsimile transmission of the signed Agreement will be legal and binding on both Parties. 

Section 17.12. Force Majeure. Neither Party to this Agreement will be liable for failure or delay in the performance of any of its
obligations hereunder (other than the failure to pay monies owed), if such failure or delay is due to causes beyond its reasonable control, including acts of God, earthquakes, fires, strikes, acts of war, or intervention of any Governmental
Authority, but any such delay or failure will be remedied by such Party as soon as practicable after the removal of the cause of such failure or delay. Upon the occurrence of an event of force majeure, the Party failing or delaying performance will
promptly notify the other Party in writing, setting forth the nature of the occurrence, its expected duration and how such Party’s performance is affected. 

Section 17.13. Interest on Late Payments. If any Party fails to pay in full on or before the date due any royalty, fee or other
amount that is required to be paid to the other Party under this Agreement, the paying Party will also pay to the other Party (or its designee), on demand, interest compounded daily on any such amount beginning [***] after such due date at an
annual rate equal to the lowest prime rate as published by The Wall Street Journal (or, if The Wall Street Journal is not then published, such other financial periodical of general circulation in the United States) on or nearest to such due date
plus [***] to be assessed from the date payment of the amount in question first became due. 

  
 46 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Section 17.14. Amendment. This Agreement may not be amended, supplemented or
otherwise modified except by an instrument in writing signed by both Parties that specifically refers to this Agreement. 

Section 17.15. Headings and References. All section headings contained in this Agreement are for convenience of reference
only and will not affect the meaning or interpretation of this Agreement. 
 Section 17.16. Construction. Except where expressly
stated otherwise in this Agreement, the following rules of interpretation apply to this Agreement: (a) “include”, “includes” and “including” are not limiting and mean include, includes and including, without limitation;
(b) definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms; (c) references to an agreement, statute or instrument mean such agreement, statute or instrument as from time to time
amended, modified or supplemented; (d) references to a Person are also to its permitted successors and assigns; (e) the terms “hereof,” “herein,” “herewith,” and “hereunder,” and words of similar
import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement; (f) references to an “Article”, “Section”, “Exhibit” or
“Schedule” refer to an Article or Section of, or any Exhibit or Schedule to, this Agreement unless otherwise indicated; (g) the word “will” shall be construed to have the same meaning and effect as the
word “shall”; (h) the word “any” shall mean “any and all” unless otherwise indicated by context; and (i) all references to “dollars” or “$” herein shall mean U.S. Dollars. 

Section 17.17. No Strict Construction. This Agreement has been prepared jointly and will not be strictly construed against either
Party. 
 [Remainder of page intentionally left blank] 

  
 47 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 IN WITNESS WHEREOF, the Parties hereto, intending to be legally bound hereby, have
caused this Agreement to be executed by their duly authorized representatives as of the date first written above. 
  

			
	AYALA PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Roni Mamluk

		 	Name: Roni Mamluk
		 	Title: CEO
	
	NOVARTIS INTERNATIONAL PHARMACEUTICAL LTD.
		
	By:	 	 /s/ Simone Pfirter

		 	Name: Simone Pfirter
		 	Title: Authorized Signatory
		
	By:	 	 /s/ Sylvain Belteung

		 	Name: Sylvain Belteung
		 	Title: Authorized Signatory

  
 [Signature Page to
Evaluation, Option and License Agreement] 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 EXHIBIT A 

AYALA PATENTS 
 [***] 

  
 A-1 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 EXHIBIT B 

COMPOUND 
 [***] 

  
 B-1 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 EXHIBIT C 

EVALUATION STUDIES 
 [***] 

  
 C-1 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 EXHIBIT D-1 

INITIAL PRESS RELEASE 

  
 D-1-1 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 DRAFT PRESS RELEASE 

CONFIDENTIAL, NOT FOR DISTRIBUTION 
 December 16, 2018 

Ayala Pharmaceuticals Signs Deal to Develop and Commercialize AL102 in Combination 

with BCMA Targeting Agents in Multiple Myeloma 

- Licensing agreement includes equity investment and potential development, clinical, 

regulatory and commercial milestones and tiered royalties 

- Ayala Retains Worldwide Rights to All Other Indications for AL102 

REHOVOT, Israel & WILMINGTON, Del., ***, 2018 — Ayala Pharmaceuticals, Inc., a clinical-stage company developing medicines
for cancers that are genetically identified, announced today that it entered into an option to license agreement with Novartis for its investigational agent AL102 in multiple myeloma. Under the terms of the deal, Ayala will receive a
$10 million equity investment from Novartis and is eligible to receive development, clinical, regulatory and commercial milestones along with tiered royalties on net sales of AL102. 

Novartis will conduct certain studies to evaluate AL102 in combination with its B-cell maturation antigen (BCMA)
therapies in multiple myeloma. Ayala will provide the drug supply. All development costs associated with the above studies will be fully born by Novartis. Ayala retains worldwide license rights for AL102 for all other indications. 

“We are extremely pleased to enter this agreement with Novartis on AL102. Novartis has a strong commitment and expertise in oncology, and a proven record
of success in drug development, making them an ideal strategic partner for AL102 in multiple myeloma,” said Roni Mamluk, PhD, chief executive officer at Ayala. “This collaboration is important to Ayala as it immediately strengthens our
balance sheet, further validates our technology and accelerates the clinical development of AL102 as a combination therapy in hematologic cancers.” 

AL102 is an oral small-molecule that inhibits gamma secretase, an enzyme which may be targeted to increase levels of BCMA, which is expressed in most multiple
myeloma patients. BCMA is actively shed from multiple myeloma cells by gamma secretase, hence its inhibition by AL102 may increase BCMA levels on multiple myeloma cells. Therefore, AL102 is being studied to evaluate its clinical role in enhancing
anti-BCMA therapies. 
 Ayala is committed to developing new targeted therapies for genomically-defined cancers in patient populations with high unmet
medical need. In addition to investigating AL102 as an anti-BMCA therapy in multiple myeloma, Ayala is evaluating AL102 as an inhibitor of the Notch pathway in other hematologic cancers. 

Multiple myeloma is a rare and aggressive blood cancer that accounts for approximately one percent of all cancers. In the U.S., there are nearly 90,000 people
living with, or in remission from, multiple myeloma. Approximately, 26,850 Americans are diagnosed with multiple myeloma each year and 11,240 patient deaths are reported on an annual basis. 

  
 D-1-2 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 About Ayala Pharmaceuticals 

Ayala Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company dedicated to developing targeted cancer therapies for people living with genetically
defined cancers. Ayala is broadly developing its product candidates, AL101 and AL102, best-in-class gamma secretase inhibitors, with clinical and nonclinical studies
underway in both solid tumors (AL101) and hematologic malignancies (AL102). The company’s lead agent, AL101, is currently in Phase 2 for adenoid cystic carcinoma patients with tumor bearing Notch activating mutations. 

As a precision oncology company, Ayala was founded in November 2017 with an experienced global management team and a strong investor base. For more
information, visit www.ayalapharma.com. 
 Forward Looking Statements 

This press release includes forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties
and actual results could differ materially from Ayala’s current expectations. Forward-looking statements are identified by words such as “anticipates,” “projects,” “expects,” “plans,” “intends,”
“believes,” “may,” “estimates,” “targets,” “hopes,” and other similar expressions that indicate trends and future events. Factors that could cause Ayala’s results to differ materially from those
expressed in forward-looking statements include, without limitation, delays in receiving regulatory guidance for the development of BMS-906024, uncertainties inherent in the initiation of future clinical
trials, availability of data from previous clinical trials, satisfactory quantities of clinical drug product, availability of patients who meet the clinical trial enrollment criteria, availability of sufficient funding for foreseeable and
unforeseeable operating expenses and capital expenditure requirements, and other matters that could affect the availability or commercial potential of BMS-906024. Ayala undertakes no obligation to revise or
update forward-looking statements as a result of new information, since these statements may no longer be accurate or timely. 
 # # # 

Contact: 
 Ayala Pharmaceuticals 

+1-857-444-0553 

info@ayalapharma.com 

  
 D-1-3 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 EXHIBIT D-2 

FOLLOW-ON PRESS RELEASE 

TO COME 

  
 D-2-1 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 EXHIBIT E 

DISPUTE RESOLUTION 

[***] 

  
 E-1 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 EXHIBIT F 

INFORMATION PACKAGE FOR BIANNUAL EVALUATION REPORT 

[***] 

  
 F-1 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Schedule 1.32 

Compound Specifications 
 [***] 

  
 F-2 

 Certain information marked as [***] has been excluded from this exhibit because it is both (i) not material
and (ii) would be competitively harmful if publicly disclosed. 
  

 Section 16.2 

Pass-Through Costs 
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