Document:

EX-10.3

 Exhibit 10.3 

License Agreement 
 This
License Agreement, made and entered into as of June 25, 2019 (“Agreement”), is by and between Beam Therapeutics Inc., a Delaware corporation having a place of business located at 26 Landsdowne Street, 2nd Floor, Cambridge, MA
02139 (“Licensee”) and MIL 21E, LLC a Delaware limited liability company having a place of business located at 21 Erie Street, Cambridge, MA 02139 (‘‘Licensor”). 

RECITALS 
 WHEREAS,
Licensor, or its affiliate, has leased certain space located at 21 Erie Street, Cambridge, MA 02139 (the “Building”) through a lease agreement (the “Lease”) between Licensor and
BMR-21 Erie Street, LLC (“Landlord”); and 
 WHEREAS, Licensee desires to use
certain space and services, as set forth below, for research and development, laboratory research and office use, and Licensor desires to grant a license to Licensee for such use. 

For good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, accepted and agreed to, the parties
agree as follows: 
  

	1.	 License. 

  

	 	(a)	 License Description. Licensor grants to Licensee the following (A) and (B), of which shall
constitute the Licensee’s license (the “License”), solely to, (i) use as office, research and development, and laboratory space consistent with current zoning for the Building and all applicable laws; (ii) conduct
Licensee’s business; and (iii) collaborate with Licensor’s staff and other licensees in accordance with this Agreement: (A) a non-transferable, non-assignable license (except as expressly
set forth herein) to, (i) use Private Lab H, more specifically identified in the blue-shaded portion of the floor plan attached to this Agreement as Exhibit 1 (“Lab Suite”), and (ii) use Private Office G, more specifically
identified in the blue-shaded portion of the floor plan attached to this Agreement as Exhibit 1 (“Office Suite”), (“Lab Suite” and “Office Suite”, collectively the “Licensed
Premises”) and (B) a non-transferable, non-exclusive, non-assignable license to use any common areas
(“Shared Premises”), subject to Licensor’s reasonable rules and restrictions; provided, however, in the event of a conflict between any such rules and regulations and this Agreement, this Agreement shall control. The parties
acknowledge in all events during the Term (as hereinafter defined) of this Agreement, the Shared Premises shall include access to those conference room spaces, kitchen and training rooms that exist in substantially the same or better manner than as
of the date of this Agreement. Licensee shall accept the Licensed Premises and Shared Premises in their “as-is” conditions and Licensor shall have no obligation to alter, repair or otherwise prepare
the Licensed Premises for Licensee’s use or to pay for, or provide any, improvements to the Licensed Premises except as expressly provided herein. Licensee shall not use the Licensed Premises or Shared Premises for any use other than the
foregoing, including but not limited to medical care or human clinical trials, without first obtaining written permission from Licensor, which Licensor may withhold in its sole discretion. 

	 	(b)	 Scope of License. The License shall not include access to any additional office or laboratory space in
the Building. Licensee understands and agrees that other licensee(s) may jointly occupy portions of the Building, not including the Licensed Premises, which shall be exclusive to the Licensee, but including but not limited to the Shared Premises.
Licensee agrees to cooperate and coordinate with any other licensee(s) that occupies portions of the Building and that, other than the Licensed Premises, use of any other portion of the Building shall not be exclusive to Licensee. Except as
expressly set forth herein, Licensor shall have no liability for the actions of any other licensee(s), persons or entities using or occupying the Building. 

  

	 	(c)	 Occupants. The License shall only grant Licensee, and no more than twenty-seven (27) of
Licensee’s members, employees or agents (collectively, “Occupants”), access to the Licensed Premises and Shared Premises; further provided, that Licensor may grant access to additional Occupants (“Additional
Occupants”) as set forth in Section 3 below. 

  

	2.	 Term and Termination. 

 

	 	(a)	 Term. Unless terminated earlier in accordance with this Section 2, the term
(“Term”) of this Agreement shall commence on October 16, 2019 (“Term Commencement Date”) and expire on. December 31, 2021 (“Expiration Date”). Under no circumstance shall Licensor be
liable to Licensee for failure to provide access to any portion of the Licensed Premises or Shared Premises on or before October 16, 2019; provided, however, that if Licensor is unable to provide Licensee access to the Licensed Premises on or
before October 16, 2019, with the Lab Suite having been decontaminated, and the Licensed Premises otherwise in suitable condition for occupancy for the purposes set forth in this Agreement, (i) the Term Commencement Date shall not occur
until Licensor has delivered access to the Licensed Premises to Licensee, and (ii) the Expiration Date shall not be extended. Licensor agrees to give Licensee fifteen (15) days’ prior written notice of the Term Commencement Date. In
any event, if Licensor is unable to deliver access to the Licensed Premises to Licensee for occupancy by November 16, 2019, with the work completed as included on Exhibit 4 attached hereto, Licensee shall be entitled to terminate this Agreement
by giving written notice thereof to Licensor, and upon the giving of such notice this Agreement shall terminate and all sums theretofore paid by Licensee to Licensor hereunder shall be refunded to Licensee within thirty (30) days of the date of
such written notice. In the event any amounts pursuant to the preceding sentence are not refunded to Licensee within such thirty (30) day period, Licensee shall be entitled to a late payment charge equal to two percent (2%) of the amount of
such delinquent payment, as well as interest owed at a rate of twelve percent (12%) per annum on any outstanding payment due to Licensee under this Agreement that remains unpaid. 

  
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	 	(b)	 Term Extension Option. Licensee, upon six (6) months written notice to Licensor, shall have the
right to extend the Term this Agreement by six (6) months (“Extension Option”); provided, however, that such written notice of the Extension Option can be given no later than the date that is six (6) full months prior to
the Expiration Date. Licensor has no obligation to honor any Extension Option notice that does not strictly comply with the requirements of this Section. 

  

	 	(c)	 Termination. Licensor may terminate this Agreement immediately for “Default” by giving written
notice to Licensee specifying the cause. ‘‘Default” shall be deemed as: (i) Licensee’s failure to pay when due any sum of money under this Agreement, and such failure shall continue for a period of five (5) days
after written notice from Licensor to Licensee that such payment was not paid when due; (ii) Licensee’s failure to comply with any covenants contained herein or Licensee’s use of the Licensed Premises or Shared Premises in violation
of any rules and procedures promulgated by Licensor or Landlord, and Licensee shall not cure such failure within thirty (30) days after written notice of such failure from Licensor to Licensee; provided, however, that such failure shall not be
deemed a Default if such failure could not reasonably be cured during such thirty (30) day period, Licensee has commenced the cure within such thirty (30) day period and thereafter is diligently pursuing such cure to completion, but the
total aggregate cure period shall not exceed forty five (45) days; further provided, however, in the event any such failure endangers the health and/or safety of any other Building occupant and/or the Building itself, such failure shall be
deemed a Default if Licensee receives notice of the same (which may be oral) and fails to cure within 24 hours, whereas for the avoidance of doubt in such instances Licensor shall have the immediate right to terminate this License following such
failure to cure within 24 hours. Upon the occurrence of any of the foregoing, and at any time thereafter, with or without further notice or demand and without limiting Licensor in the exercise of any right or remedy that Licensor may have, Licensor
may do any or all of the following by written notice to Licensee or by any lawful means, (A) terminate Licensee’s access to the Licensed Premises, or (B) terminate the License. In either instance, Licensee shall immediately surrender
the Licensed Premises to Licensor. In such event, Licensor shall have the immediate right to re-enter and remove all persons and property from the Licensed Premises and Shared Premises, and such property may
be removed and stored in a public warehouse or elsewhere at the cost and for the account of Licensee, without being deemed guilty of trespass or becoming liable for any loss or damage that may be occasioned thereby. In the event that Licensor shall
elect to so terminate this License, then Licensor shall be entitled to recover from Licensee all direct and indirect damages incurred by Licensor by reason of Licensee’s default. Upon termination of this Agreement, the License shall expire and
Licensee shall immediately vacate the Licensed Premises and Shared Premises. Under no circumstances shall Licensor or Landlord be liable for any alleged, purported, consequential or direct damages resulting from Licensor or Landlord terminating this
Agreement. Notwithstanding anything to the contrary contained herein, except as expressly set forth in Section 8 and in the event of damages stemming from hold over after termination of this Agreement, in no other case shall Licensee be liable
under this Agreement for any lost profits, damage to business or any form of special, indirect, punitive or consequential damages. 

  
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	3.	 License Fee. 

  

	 	(a)	 Base Fee. Licensee shall pay a monthly license fee equal to $125,343.75 (“License
Fee”), which shall be paid in advance no later than the first day of each and every month during the Term. Licensee shall pay each License Fee payment by electronic payment to Licensor. The License Fee shall be subject to a three percent
(3%) increase upon each anniversary of the Term Commencement Date. 

  

	 	(b)	 Late Fee. If any payment of the License Fee, or any other payment due under this Agreement, is not
received by Licensor no later than the first day of each month, or when otherwise due, Licensee shall pay to Licensor a late payment charge equal to five percent (5%) of the amount of such delinquent payment, in addition to any outstanding License
Fee or any other payment due under this Agreement then owing; provided, however, Licensor hereby agrees to waive one such late fee in any twelve (12) month period so long as Licensee shall pay such outstanding amounts within five (5) days
of written notice from Licensor to Licensee of such late payment. Licensee shall pay twelve percent (12%) interest per annum on any outstanding License Fee or other payment due under this Agreement that remains unpaid; such interest shall accrue
beginning the date such payment is due until the date such payment is actually paid. 

  

	 	(c)	 Additional Fees. Licensee may request that Licensor grant access to Additional Occupants provided that
Licensee first (i) submits a written request to Licensor requesting Additional Occupants; (ii) Licensee receives written confirmation from Licensor granting access to Additional Occupants; and (iii) Licensee pays, in addition to the
License Fee, an amount equal to $2,500 per month for each Additional Occupant.· 

  

	 	(d)	 Security Deposit. Licensee shall be required to pay a Security Deposit in the amount set forth below.
The purpose of the Security Deposit is to guarantee the full, prompt and faithful performance by Licensee of all of the terms, conditions, covenants, agreements, warranties and provisions of this Agreement to be performed, fulfilled or observed by
Licensee hereunder, including but not limited to the payment of the License Fee and other charges. If Licensee breaches any term or condition of this Agreement beyond applicable notice and cure periods, said Security Deposit or any part thereof may
be used to pay any such payment or perfo1m any obligations of the Licensee, and the Licensee shall immediately replace the amount of the Security Deposit SP used. Said Security Deposit may be co-mingled with
the Licensor’s other funds, need not be kept in a separate account, and Licensor shall not be required to pay interest on same. Licensor shall return the balance of the Security Deposit within thirty (30) days following the end of Term, as
extended from time to time. Licensor, from time to time, may transfer the Security Deposit to any mortgagee or any grantee or grantees to be held by such mortgagee, grantee or grantees as the Security Deposit hereunder on the above

  
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terms, and upon such transfer to such mortgagee, grantee or grantees, Licensor thereupon shall be relieved from all further liability to the Licensee with respect to the Security Deposit, and
Licensee thereafter shall look only to such mortgagee, grantee or grantees for the return of the Security Deposit. 

  

	 	(e)	 Initial Payment. Licensee shall pay, immediately upon executing this Agreement, an amount equal to the
License Fee for the first month of the Term of this Agreement ($125,343.75), the License Fee for the last month of the Term of this Agreement ($132,977.18), a Security Deposit equal to $132,977.18, and the Parking Fees (as defined below) associated
with Licensee’s Parking Spaces (as defined below). As such, Licensee shall pay a total of $391,298.11 plus the aforementioned Parking Fees, as of the execution of this Agreement. 

 

	4.	 Service Agreement. Licensor agrees to provide to Licensee, during the entire Term of this Agreement, the
services set forth in the Service Agreement attached hereto as Exhibit 2. The License Fee shall cover and include the cost of the services set forth in the Service Agreement and, unless the scope of services requested by Licensee exceed those
set forth in the Service Agreement, Licensee shall not be assessed any additional fees for services contained in the Service Agreement. The Service Agreement shall be governed by the terms of this Agreement and if there is any conflict between the
covenants and representations contained in this Agreement and the Service Agreement, the terms of this Agreement shall prevail and be binding upon Licensor and Licensee. Licensor shall not be liable for any failure to provide the services set forth
in the Service Agreement to the extent such failure is beyond Licensor’s reasonable control. Notwithstanding the foregoing to the contrary, if, due to any grossly negligent or willful and wrongful act or omission of Licensor, there is an
interruption of one or more services or utilities that Licensor is obligated to perform or deliver under this Agreement, Licensor shall use due diligence to cause such restoration of the interruption at the soonest reasonable time.

  

	5.	 Common Areas. Licensee hereby acknowledges that other licensees and/or occupants are occupying or may in
the future occupy other portions of the Building. Licensee’s use of the Licensed Premises, and access to and use of the common areas and any other services in connection with the Licensed Premises or this Agreement, shall be subject to any and
all rules and procedures reasonably promulgated by Licensor and/or Landlord and delivered to Licensee from time to time; provided, however, in the event of a conflict between the terms and conditions of those rules and regulations and this
Agreement, this Agreement shall control. Licensee’s compliance with such rules and procedures constitutes a material inducement to Licensor’s willingness to enter into this Agreement; any violation thereof shall constitute a material
breach of this Agreement. 

  

	6.	 Parking. During the Term, Licensee shall have a non-exclusive, non-transferable license to use six (6) unreserved parking spaces (“Licensee’s Parking Spaces”). Licensee shall have no right to elect to reduce its number of Licensee’s Parking
Spaces and shall be responsible for the Parking Fees (defined below) for such spaces regardless of whether its Occupants use Licensee’s Parking Spaces. Licensee shall pay, in addition to the License Fee, monthly parking fees equal to the
prevailing rates for the Building (“Parking Fees”) and shall pay such Parking Fees to Licensor at the time each License Fee payment is due. 

  
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	7.	 Modifications to Licensed Premises. Licensee shall not make any modification to the Licensed Premises
without Licensor’s prior written approval, which approval may be withheld or conditioned in Licensor’s sole discretion. Licensee shall bear the cost of any approved modifications to the Licensed Premises completed by or on behalf of
Licensee. All articles of personal property, and all business and trade fixtures, machinery and equipment, cabinet work, furniture and movable partitions, if any, paid for or installed by Licensee in the Licensed Premises will be and remain the
property of Licensee and may be removed by Licensee at any time, provided that Licensee, at its expense, shall repair any damage to the Licensed Premises caused by such removal or by the original installation. Licensee shall remove all of
Licensee’s personal property at the expiration of the Term of this Agreement or sooner termination of this Agreement, in which event the removal shall be done at Licensee’s expense and Licensee, prior to the end of the Term of this
Agreement or upon sooner termination of this Agreement, shall repair any damage to the Licensed Premises caused by its removal. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that those modifications listed
on Exhibit 4 (the “Initial Work”) are hereby approved by Licensor, and Licensee shall cause the removal of the same at Licensee’s expense and Licensee, prior to the end of the Term of this Agreement or upon sooner termination
of this Agreement, and shall repair any damage to the Licensed Premises caused by its removal. 

  

	8.	 Hazardous Materials. Licensee shall strictly comply with all Environmental Laws to the extent such
provisions relate to the Licensed Premises during the Term of this Agreement. For purposes hereof, “Environmental Laws” shall mean all laws, statutes, ordinances, rules and regulations of any local, state or federal governmental
authority having jurisdiction concerning environmental, health .and safety matters, including but not limited to any discharge by Licensee or Licensee’s Occupants into the air, surface water, sewers, soil or groundwater of any Hazardous
Material (defined below) whether within or outside the Licensed Premises, including, without limitation (i) the Federal Water Pollution Control Act, 33 U.S.C. Section 1251 et seq., (ii) the Federal Resource Conservation and Recovery Act,
42 U.S.C. Section 6901 et seq., (iii) the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq., (iv) the Toxic Substances Control Act of 1976, 15 U.S.C. Section 2601 et seq., and
(v) Chapter 21E of the General Laws of Massachusetts. Licensee, at its sole cost and expense, shall comply with (a) Environmental Laws, and (b) any rules; requirements and safety procedures of the Massachusetts Department of
Environmental Protection, the city in which the Building is located, and any insurer of the Building or the Licensed Premises with respect to Licensee’s use, storage and disposal of any Hazardous Materials . Notwithstanding anything in this
Agreement to the contrary, Licensee shall have no liability to Licensor or responsibility under this Agreement for any Hazardous Materials in, on, under or about the Licensed Premises that were not released, discharged, stored or introduced by
Licensee or its agents. The term “Hazardous Material” means asbestos, oil or any hazardous, radioactive or toxic substance, material, waste or petroleum derivative which is or becomes regulated by any Environmental Law or
which is designated as a “hazardous substance,” “hazardous material,” “oil,” “hazardous waste” or toxic substance under any Environmental Law. Licensee shall follow all of Licensor’s Environmental Health
and Safety (“EH&S”) guidelines and requirements, which may be modified from time to time. 

  
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	9.	 Fire, Other Casualty; Eminent Domain. In the event of a fire or other casualty affecting the Building or
the Licensed Premises, or of a taking of all or a part of the Building or Licensed Premises under the power of eminent domain: (i) Licensor shall not have any obligation to repair or restore the Licensed Premises or any alterations or personal
property; (ii) Licensee shall be entitled only to a proportionate abatement of the License Fee (including any charges for Additional Occupant(s)) and Parking Fees during the time and to the extent the Licensed Premises are unfit for the
purposes permitted under this Agreement and not used by Licensee as a result thereof; (iii) Licensee shall not, by reason thereof, have a right to terminate this Agreement unless the Lease shall be terminated; and (iv) Licensor and
Landlord reserve the right to terminate this Agreement in connection with any right granted to either Licensor or Landlord under the Lease whether or not the Licensed Premises is damaged or the subject of a taking. In the event Licensor or Landlord
exercises the right to terminate the Lease as the result of any such fire, casualty or taking, (a) Licensor shall provide Licensee with a copy of the relevant termination notice and this Agreement shall terminate on the date upon which the
Lease terminates and (b) Licensee shall immediately pay to Licensor· all of Licensee’s insurance proceeds relating to all alterations (but not to Licensee’s personal property). Notwithstanding anything to the contrary contained
herein, in the event a casualty or condemnation proceeding occurs during the last six (6) months of the Term resulting in the destruction or taking of all or any portion of the Licensed Premises or access thereto, Licensee and Licensor shall
each have the right to terminate this Agreement upon thirty (30) days prior written notice to the other, with such notice to be given within thirty (30) days following the casualty or condemnation event. 

 

	10.	 Limit of Liability. Notwithstanding anything to the contrary contained in this Agreement, Landlord,
Licensor, their respective, members, officers, directors, employees, agents, servants, lenders, mortgagees, ground lessors beneficiaries and contractors (collectively, the “Licensor Parties”), shall not be liable for any damages or
injury to person or property or resulting from the loss of use thereof sustained by Licensee or anyone having claims through or on behalf of Licensee, based on, arising out of, or resulting from, any cause whatsoever, including any due to the
Building becoming out of repair, or due to the occurrence of any accident or event in or about the Building, or due to any act or neglect of any tenant or occupant of the Building or any other person. Notwithstanding the foregoing provision of this
Section, Licensor Parties shall not be released from liability to Licensee for any physical injury to any natural person caused by Licensor Parties’ gross negligence or willful misconduct to the extent such injury is not covered by insurance
either carried by Licensee (or such person) or required by this Agreement to be carried by Licensee; provided that Licensor Parties shall not, under any circumstances, be liable for any exemplary, punitive, consequential or indirect damages (or for
any interruption of or loss to business). No Licensor Parties’ shall be held to have any personal liability for satisfaction or any claim or judgment. 

  

	11.	 Waiver of Claims. Licensee hereby releases and waives any and all claims against the Licensor Parties
for injury or damage to person, property or business of every kind, nature and description, sustained in or about the Building or the Licensed Premises by Licensee or anyone claiming under Licensee, other than by reason of gross negligence or
willful misconduct of the Licensor Parties and except in any case which would render this release 

  
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and waiver void under applicable law. Except to the extent caused by or arising from the negligence or willful misconduct of Licensee or its agents, employees or contractors, and subject to the
waiver of subrogation contained in Section 12(a), Licensor shall protect, indemnify and hold the Licensee harmless from and against all loss, claims, liability or costs (including court costs and attorney’s fees) incurred by reason of any
negligence or willful misconduct of Licensor or the Licensor Parties. 

  

	12.	 Insurance. See Insurance Requirements attached hereto as Exhibit 3. 

 

	 	(a)	 Subrogation. Licensee and its insurers hereby waive any and all rights of recovery or subrogation
against the Licensor Parties with respect to any Claims (as defined below) howsoever caused, that are covered, or should have been covered, by valid and co1lectible insurance being carried in accordance with Exhibit 3, including any deductibles or
self-insurance maintained thereunder. If necessary, Licensee agrees to endorse the required insurance policies to permit waivers of subrogation as required hereunder and hold harmless and indemnify the Licensor Parties for any loss or expense
incurred as a result of a failure to obtain such waivers of subrogation from insurers. Such waivers shall continue so long as Licensee’s insurers so permit. Any termination of such a waiver shall be by written notice to Licensor. Licensee, upon
obtaining the policies of insurance required or permitted hereunder, shall give notice to its insurance carriers that the foregoing waiver of subrogation is contained in herein. If such policies shall not be obtainable with such waiver or shall be
so obtainable only at a premium over that chargeable without such waiver, then Licensee shall notify Licensor of such conditions. Licensor and its insurers hereby waive any and all rights of recovery or subrogation against the Licensee with respect
to any Claims (as defined below) howsoever caused, that are covered, or should have been covered, by valid and collectible insurance, including any deductibles or self-insurance maintained thereunder. 

 

	 	(b)	 Assumption of Risk. Licensee assumes the risk of damage, and shall be liable for any damage caused to,
any fixtures, goods, inventory, merchandise, equipment and leasehold improvements, and the Licensor Parties shall not be liable for injury to Licensee’s business or any loss of income therefrom, relative to such damage. Licensee shall, at
Licensee’s sole cost and expense, carry such insurance as Licensee desires for Licensee’s protection with respect to personal property of Licensee or business interruption. 

 

	13.	 Indemnification. Except to the extent the same is as a result of the gross negligence and willful
misconduct of Licensor or any of the Licensor Parties, and subject to the waiver or subrogation contained in Section 12 hereof, Licensee shall indemnify, defend (by counsel acceptable to Licensor), release, protect and hold the Licensor Parties
harmless from and against any and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages, suits or judgments, and all reasonable expenses (including reasonable attorneys’ fees, charges and disbursements,
regardless of whether the applicable demand, claim, action, cause of action or suit is voluntarily withdrawn or dismissed) incurred in investigating or resisting the same (collectively, “Claims”) of any kind or nature that arise
before, during or after the Term, arising out of or related to: (i) the use or occupancy of the 

  
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Licensed Premises or Shared Premises by Licensee or its Occupants or anyone claiming by, through or under Licensee; (ii) the failure by Licensee or anyone claiming by, through or under
Licensee to comply with any term, condition, or covenant of this Agreement, including, without limitation, Licensee’s obligation to surrender the Licensed Premises in the condition herein required; (iii) the negligence or willful
misconduct of Licensee, its agents or anyone claiming by, through or under Licensee; (iv) the existence of Hazardous Materials on, under or about the Licensed Premises to the extent caused, stored, released, discharged or introduced by Licensee
or its agents; (v) the death of or injury to any person or damage to any property in the Licensed Premises; or (vi) the death of or injury to any person or damage to any property on or about the Building to the extent caused by the
negligence, recklessness or willful misconduct of Licensee or its agents. 

  

	14.	 Assignment. 

  

	 	(a)	 No Assignment. Licensee shall not assign, encumber or transfer this Agreement, or any part of it, or its
right or interest in it, without Licensor’s prior written approval. Licensee shall not in any way obstruct or interfere with the rights of other licensees, occupants or users of the Building, nor shall it permit its employees, representatives,
or contractors to do so. Licensor may assign this Agreement. 

  

	 	(b)	 Prohibited Transfers. Notwithstanding any other provision contained in this Agreement to the contrary,
Licensee shall not knowingly, after reasonable inquiry, transfer or permit the transfer of any legal or beneficial interest in Licensee to, or assign, sublicense or otherwise transfer all or any portion of its interest under this Agreement or in all
or any portion of the Licensed Premises to, or enter into any sublicense or other use or occupancy agreement to, any: 

  

	 	i.	 Person (or any Person whose operations are directed or controlled by a Person) that has been convicted of or
has pleaded guilty in a criminal proceeding to a felony or that is an ongoing target of a grand jury investigation convened pursuant to applicable statutes concerning organized crime; 

 

	 	ii.	 Person organized in or controlled from a country, the activities with respect to which are regulated or
controlled pursuant to the following laws and the regulations or executive orders promulgated thereunder: (A) the Trading with the Enemy Act of 1917, 50 U.S.C. App. §1, et seq., as amended; (B) the International Emergency
Economic Powers Act of 1976, 50 U.S.C. §1701, et seq., as amended; or (C) the Anti-Terrorism and Arms Export Amendments Act of 1989, codified at Section 6(j) of the Export Administration Act of 1979, 50 U.S.C. App.
§2405W, as amended; or 

  

	 	iii.	 Person with whom Landlord or Licensor is restricted from doing business wider either (A) Executive Order
No. 13224 on Terrorist Financing (effective September 24, 2001 (as amended or supplemented from time to time, the “Executive Order”), or (B) the Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and 

  
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Obstruct Terrorism Act of 2001 (Public Law 10756; as amended, from time to tin1e, the “Patriot Act”), or (C) the regulations of the United Stated Department of the Treasury
Office of Foreign Assets Control (including, without limitation, those Persons named on the list of “Specially Designated Nationals and Blocked Persons” as modified from time to time), or other governmental action; or 

 

	 	iv.	 Affiliate of any of the Persons described in the preceding paragraphs (i), (ii) or (iii).

 As used herein, “Person” shall mean any individual or entity, and the heirs, executors, administrators, legal
representatives, successors and assigns of such Person where the context so admits; “Affiliate” shall mean, with respect to any Person, (i) in the case of any such Person which is an Entity, any partner, shareholder, member or other
owner of such Entity, provided that such partner, shareholder, member or other owner owns more than fifty percent (50%) of the Equity Interests of such Entity, and (ii) any other Person which is a Parent, a Subsidiary, or a Subsidiary of a
Parent with respect to such Person or with respect to one or more of the Persons referred to in the preceding clause (i); “Equity Interest” shall mean with respect to any Entity, (i) the legal (other than as a nominee) or beneficial
ownership of outstanding voting or non-voting stock of such Entity if such Entity is a business corporation, a real estate investment trust or a similar entity, (ii) the legal (other than as a nominee) or
beneficial ownership of any partnership, men1bership or other voting or non-voting ownership interest in a partnership, joint venture, limited liability company or similar entity, (iii) a legal (other
than as a nominee) or beneficial voting or non-voting interest in a trust if such Entity is a trust and (iv) any other voting or nonvoting interest that is the functional equivalent of any of the
foregoing; “Parent” shall mean, with respect to any Subsidiary, any Person which owns directly or indirectly through one or more Subsidiaries the entire Equity Interest in such Subsidiary; and “Subsidiary” shall mean, with
respect to any Parent, any Entity in which a Person, owns, directly or indirectly through one or more Subsidiaries, the entire Equity Interest in such Subsidiary. If Licensee is a corporation, limited liability company, partnership or trust, the
transfer of outstanding capital stock of Licensee by persons or parties through the “over the counter market” or through any recognized stock exchange, shall not be deemed an assignment or transfer of this Agreement. 

Notwithstanding anything to the contrary contained in this Section 14, the provisions of this Section 14 shall not apply to (and Licensor consent
shall not be required in connection with,) the following transfers: (1) transfers to an entity into or with which Licensee is merged or consolidated, or (2) transfers to any entity whic4 purchases all or substantially all of
Licensee’s voting stock, partnership interests or other membership interests, or (3) transfers to an entity to which all or substantially all of Licensee’s assets are transferred (the transferee in clauses (1), (2) or (3) being
referred to as a “Licensee’s Successor”); or (4) transfers (including, without limitation, subleases or other occupancy agreements) to any entity which controls or is controlled by Licensee or is under common control with
Licensee (the transferee in clause (4) being referred to as a “Licensee Affiliate”); provided however, Licensee shall provide thirty (30) day advance written notice to Licensor prior to any such transfer and, further provided
that in any of such events: 
  

	 	(i)	 with respect to a Licensee Successor such Licensee Successor has a net worth which, in Licensor’s
reasonable judgment, is sufficient to meet the financial and other obligations of Licensee under this Agreement; 

  
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	 	(ii)	 proof reasonably satisfactory to Licensor of such net worth shall have been delivered to. Licensor at least ten
(10) days prior to the effective date of any such transaction; provided, however, that if, due to securities regulations or other applicable laws or a written confidentiality agreement, Licensee is unable to provide prior notice of such
transaction, then Licensee shall provide such notice to Licensor within ten (10) days after the date of such transaction; and 

  

	 	(iii)	 such merger, acquisition, consolidation or transfer shall be for a valid business purpose and not principally
for the purpose of transferring this Agreement. 

  

	15.	 Miscellaneous. 

 

	 	(a)	 Investment Right. [Intentionally Omitted] 

 

	 	(b)	 Attorneys’ Fees. In the event of any litigation or arbitration between Licensee and Licensor,
whether based on contract, tort or other cause of action or involving bankruptcy or similar proceedings, in any way related to this Agreement, the non-prevailing party shall pay to the prevailing party all
reasonable attorneys’ fees and costs and expenses of any type, without restriction by statute, court rule or otherwise, incurred by the prevailing party in connection with any action or proceeding (including arbitration proceedings, any appeals
and the enforcement of any judgment or award), whether or not the dispute is litigated or prosecuted to final judgment. The “prevailing party” shall be determined based upon an assessment of which party’s major arguments or positions
taken in the action or proceeding could fairly be said to have prevailed (whether by compromise, settlement, abandonment by other party of its claim or defense, final decision after any appeals, or otherwise) over the other party’s major
arguments or positions on major disputed issues. Any fees and cost incurred in enforcing a judgment shall be recoverable separately from any other amount included in the judgment and shall survive and not be merged in the judgment.

  

	 	(c)	 Authority. Each person executing this Agreement on behalf of a party hereto represents and warrants that
he or she is authorized and empowered to do so and to thereby bind the party on whose behalf he or she is signing. 

  

	 	(d)	 Captions. All captions and headings in this Agreement are for the purposes of reference and convenience
and shall not limit or expand the provisions of this Agreement. 

  

	 	(e)	 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be
deemed to be an original and all of which taken together shall comprise but a single instrument. 

  
 -11- 

	 	(f)	 Entire Agreement. This Agreement contains all of the covenants, conditions and agreements between the
parties concerning the Licensed Premises, and shall supersede any and all prior correspondence, agreements and understandings concerning the Licensed Premises, both oral and written. No addition or modification of any term or provision of this
Agreement shall be effective unless set forth in writing and signed by both Licensor and Licensee. 

  

	 	(g)	 Notices. Any notice required or permitted under this Agreement shall be effective if in writing and
delivered to the other party at the following address. 

  

			
	LICENSOR	  	LICENSEE
	 21 Erie Street
 Cambridge, MA 02139

Attn: Amrit Chaudhuri
	  	 26 Landsdowne Street, 2nd Floor

Cambridge MA 02139
 Attn: CEO

  

	 	(h)	 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts. Licensee hereby consents to the personal jurisdiction and venue of any state or federal court located in Suffolk County Massachusetts, and any successor court, and the service or process by any means authorized by such
court. 

  

	 	(i)	 Exhibits. All exhibits and any schedules or riders attached to this Agreement are incorporated herein by
this reference and made a part hereof, and any reference in the body of the Agreement or in the exhibits, schedules or riders to the Agreement shall mean this Agreement, together with all exhibits, schedules and riders. 

 

	 	(j)	 Waiver of Trial by Jury. LICENSEE HEREBY WANES ANY AND ALL RIGHTS IT MAY HAVE UNDER APPLICABLE LAW TO
TRIAL BY JURY WITH RESPECT TO ANY DISPUTE WITH ANY LICENSOR PARTIES ARISING DIRECTLY OR INDIRECTLY IN CONNECTION WITH THIS AGREEMENT OR THE LICENSED PREMISES. NOTHING CONTAINED IN TIDS SECTION SHALL BE CONSTRUED AS AWANER BY LICENSOR OR LANDLORD OF
ANY OF ITS RIGHTS TO TR1AL BY JURY IN CONNECTION WITH Tii8 LEA.SE OR THIS AGREEMENT FOR ANY CLAIMS OR CAUSES OF ACTION SO TRIABLE. 

  

	 	(k)	 Successors and Assigns. Subject to the provisions of this Agreement relating to assignment and
subletting, this Agreement shall be binding upon, and shall inure to the benefit of the parties’ respective representatives, successors and assigns. 

  

	 	(l)	 Relationship of Parties. Nothing in this Agreement shall be deemed to create any joint venture or
principal-agent relationship or partnership between any of the parties hereto, and no party is authorized to, and no party shall, act toward third parties or the public in any manner that would indicate any such relationship. 

 

	 	(m)	 Access. Landlord and Licensor reserve the right to enter the Licensed Premises upon reasonable prior
written or oral notice to Licensee (except that in case of 

  
 -12- 

	 	
emergency no notice shall be necessary) in order to inspect the Licensed Premises and/or the performance by Licensee of the terms of this Agreement or to exercise Licensor’s rights or
perform Licensor’s obligations hereunder. 

 LICENSEE UNDERSTANDS AND ACKNOWLEDGES THAT RIGHTS UNDER THIS AGREEMENT ONLY CONSTITUTE A
LICENSE FOR USE OF THE LICENSED PREMISES AND DO NOT INVOLVE THE GRANT OF ANY INTEREST IN REAL ESTATE. LICENSEE SPECIFICALLY DISCLAIMS ANY RIGHTS TO SUMMARY PROCESS AND, PROVIDED THAT, LICENSOR COMPLIES WITH ALL OBLIGATIONS (INCLUDING WITHOUT
INVITATION NOTICE AND CURE REQUIREMENTS) HEREUNDER, EXPLICITLY PERMITS LICENSOR TO USE SELF-HELP REMEDIES PROVIDED THAT SUCH SELF-HELP REMEDIES DO NOT BREACH THE PEACE. 

IN WITNESS WHEREOF, Licensor and Licensee have duly executed this Agreement as of the day and year first above written. 

 

									
	LICENSOR:	 		 	LICENSEE:
			
	MIL 21E, LLC,	 		 	BEAM THERAPEUTICS INC.,
			
	 /s/ Amrit Chaudhuri
	 		 	 /s/ John Evans

	By:	 	Amrit Chaudhuri	 		 	By:	 	John Evans
	Title:	 	CEO	 		 	Title:	 	CEO

  
 -13- 

 Exhibit 1: Licensed Premises 

 
 

 

  
 Exhibit 1 

 Exhibit 2: Service Agreement Scaling Suites 

Emergency Procedures: A copy of 21 Brie Street emergency procedures and online access will be provided at the start of occupancy. 

 

					
	Licensee Space	  	Laboratory Space	  	 Laboratory suites that vary in size from approximately 2,500 — 18,000 sqft and in configurations of either Chemistry, Molecular
Biology (BSL-1 and 2), or a mix of the two. Suites may include private offices. Laboratories can be equipped with fume hoods, central gas lines for CO2
and Nitrogen, and heavy electrical and exhaust infrastructure.
  
 Gases and chemicals
provided:
  
 1.  Vacuum

 
 2.  Compressed Air

 
 3.  Dry ice

 
 4.  Liquid Nitrogen

 
 5.  Others by special order and extra
pricing
  
 Equipment provided may include:

 
 1.  Private BSL-1 wet lab bench, sink, eye-wash and safety shower
  

2.  Private BSL-2 cell/tissue culture room

 
 3.  Optional Private Chemistry hood
with solventstorage
  
 4.  Shared
access to Share Equipment (see list following)
  
 Licensee will need to assign a
Laboratory Supervisor and an EHS contact person.

	  	Offices	  	  
 Offices are connected or located near the laboratory space.
Additional office space may be licensed for additional fee depending on availability. Office furniture is the responsibility of the Licensee. Depending on availability, Licensor may provide Licensee temporary furniture.

	  	Auxiliary Rooms	  	  
 Suites may have private auxiliary rooms for sample storage,
instruments, equipment etc. Some suites also have a cold room.

	  	IT	  	  
 Scaling Suites have a private virtual network with access to
redundant gigabyte Internet service and have a private WiFi covering Licensed Premises.

	  	Security	  	  
 Each suite has secured key card access and facility entrance points
are covered by video surveillance.

	  	Emergency Power	  	  
 Emergency generators that support critical equipment and base
building life safety equipment are operated by the facility manager together with outside support.

	Shared Equipment	  	Instrumentation	  	  
 A limited number of shared devices and instrumentation maybe
available to Licensee. Users must pass the equipment specific training before use. Equipment may include*:
  

1.  Floor-standing centrifuge
  

2.  Microvolume spectrophotometer
  

3.  Gel imaging system
  

4.  Plate reader

  
 Exhibit 2 

					
		  		  	 5.  -80C backup .freezer with limited availability

 
 6.  Balances

 
 7.  Fluorescent microscope (filter
cubes for GFP, DAPI, and RFP)
  

8.  Flow cytometer
  

9.  Quantitative PCR machine
  

*  List of equipment is subject to change and use may be limited due to availability.

	  	Glass Wash and Autoclave	  	  
 A glass wash and autoclave facility will be available to Licensee,
provided that such facilities will be run by Licensor and/or a third party (i.e. Licensee shall not run these systems).

	Common Space	  	Conference Rooms	  	  
 Conference rooms will be made available with a central
internet-based reservation system. A/V equipment is provided or available for each conference room. Conference call equipment will be available in all conference rooms.

	  	Lecture Room	  	  
 A lecture room (approximately
75-person capacity) is available for seminars and lectures. The lecture room requires an advanced reservation and a nominal fee may be charged for set up and cleaning services.

 
 Licensor may offer a range of events, seminars and lectures free of charge for
Licensees. Third-party seminars and training may also be provided at a nominal cost.

	  	Interactive Space	  	  
 Two café spaces are available to all Licensees. Coffee, tea,
water and snacks will be available in each café space.

	  	Showers	  	  
 Showers are available to Licensee.

	  	Wellness Room	  	  
 A Wellness Room is available upon request.

	IT	  	Support	  	  
 Tier 1 tech support will be provided by Licensor in collaboration
with a third party vendor. Tier 3 tech support will be performed on an ongoing basis for the common IT infrastructure environment.

	  	Network	  	  
 Licensee will have access to Licensor’s network. Scaling Suite
licensees may install and house its own networking and server equipment. Additional requirements may apply. A detailed description of Network and IT Services is available upon request.

		  	Wi-Fi	  	  
 Public Wi-Fi is available
throughout the building.

	Operational Support	  	Facility	  	  
 An on-site facility manager
will be available to Licensee. Basic personal protective equipment (PPE) (gloves, safety glasses, etc.) for general use will be available through the facility manger. Specialty PPE has to be provided by the Licensee.

 
 Janitorial services will be provided on a schedule and frequency of cleaning that will
be based on the needs of the Licensee.

	  	Permits	  	  
 The following permits have been obtained by the Licensor for the
Licensed Premises*:
  

•   Wastewater disposal

 
 •   Flammable liquids and
solvents
  
 •   Licensor
will own the EPA ID number.
  

*  Biosafety and/or rDNA permil3 have to be obtained by the
Licensee.

  
 Exhibit 2 

					
		  	EH&S	  	 During the application process, Licensee will have to submit a Hazard Assessment form that addresses the type and amount of chemicals and
biological agents that the Licensee plans to use in the Licensed Premises. No work may be conducted in the Licensed Premises until the form is approved by Licensor. Based on this assessment, the Licensor will create SOP’s and EHS training
requirements for the Licensee. Additional permits may have to be obtained by the Licensee.
  

A hard copy of all safety and emergency procedures will be delivered to the Licensee and, in addition, will be available on each floor. Recommendations for EHS
must be followed by the Licensee. Licensor will conduct a mandatory meeting with the Licensee to communicate and discuss all relevant emergency information and policies.
  

Only Biosafety Level l and 2 work is allowed in Licensed Premises. All Biosafety Level 1 and 2 work must be approved by the Institutional Biosafety Committee
(IBC). No select agent work is allowed. Depending on the biosafety work, it may need to be reviewed either by the Cambridge Biosafety Committee (CBC) or an in-house Institutional Biosafety Committee
(IBC).

			
		  	EH&S Training	  	 Training is provided for all Licensee staff. Initial training will consist of a walk-through of the Licensed Premises and web-based training and certifications.
  
 Ongoing
training ill web-based and licensor will keep a training record of all training received by Licensee staff. Failure to complete training may result in removal of access or work stoppage.

 
 The following is a list of training that will be provide if appropriate:

 
 •   Accident Reporting

 
 •   Emergency Action
Plan
  
 •   PPE/Job
Hazard Analysis
  

•   Respiratory Protection

 
 •   Blood Borne
Pathogens
  

•   Biosafety
  

•   Formaldehyde
  

•   Hazard Communication

 
 •   Chemical Hygiene

 
 •   Waste Handling

 
 •   Eye Protection and
Safety
  
 •   Fire Safety
Prevention/Fire Extinguishers
  

•   First Aid and Emergency Response

 
 •   Sharps Safety and
Needle-Stick Prevention
  

*  Additional specialized training may be
required.

  
 Exhibit 2 

					
	Operational Support (Cont)	  	EH&S Training Audits	  	Licensor or a third-party will conduct EHS audits for all procedures and equipment and will implement corrective actions for Licensee at a frequency required by federal, state and local regulations. A review of SOP’s will be
provided when requested at the Licensee’s cost.
	  	Inspections	  	  
 Emergency equipment such as safety showers, eyewash stations, fire
extinguishers and emergency egress, will be checked by Licensor or a third party on a regular basis as required by EHS provisions. Chemical fume hoods will be inspected and certified on a yearly basis by a third-party vendor.

	  	Waste Management	  	  
 A third party vendor will manage all aspects of wastewater
management. A wastewater operator will service and maintain the pH neutralization system and check all auxiliary piping, etc. Preventative maintenance of all wastewater systems will be done once per month. Wastewater sampling, sample transport,
analysis and reports will be done by a third-party vendor. The chart recorder and other data logs will be checked regularly.
  

Hazardous, non-hazardous and biological waste will be removed from satellite accumulation areas in the Licensed
Premises such as laboratories, hoods or storage rooms. To ensure ongoing compliance, improvements of existing systems will be based on third party recommendations. Licensor will maintain a wastewater treatment license.

	  	Purchasing	  	  
 Licensor will maintain a central inventory system for chemicals,
flammable solvents and toxic biologicals, including MSDS administration and centralized shipping and receiving. Licensee will be responsible for ordering chemicals and biologicals and will bear sole responsibility and cost of any errors and costs
associated with shipment; or instances where chemicals or biologicals are not in compliance with the rules and regulations governing the Licensed Premises and must be returned or properly disposed of.

	  	Emergencies	  	  
 There will be 24/7 on-call
emergency personnel in case of emergencies such as accidents, spills, etc.

	Security	  	Secured Space	  	  
 Licensor and security professional will be available at the
entrance of the building Monday- Friday from 8AM to 5PM. After hours security personnel will be available at a reception area, or another area upon notification from Licensor. Licensee can request that security personnel make tours of Licensed
Premises after hours. Biosafety regulations may prevent security personnel from entering Licensed Premises.

	  	Visitors	  	  
 All visitors will be directed to a receptionist provided by
Licensor where they will have to sign in and receive a badge. Licensee is responsible for meeting visitor at the receptionist desk and escorting the visitor in the Building and Licensed Premises. Due to safety concerns, visitors will not be allowed
into Licensed Premises without prior approval by Licensor. Off-hour visitors will need approval by Licensor in advance. Licensee is solely responsible for its visitors’ actions, ensuring its visitors
adhere to all of Licensor’s policies, and for accompanying visitor at all times during their visit duration. See Visitor Policy for more details.

  
 Exhibit 2 

					
	Office Support	  	Receptionist	  	Licensor will provide a receptionist to greet all Licensee visitors, sign them in, and announce them to Licensee staff. The receptionist is also available for general inquiries from the Licensee and directing these inquiries to
the person responsible for addressing the inquiries.
	  	Print and Copy	  	  
 Shared access printers and copiers for standard print and copy jobs
will be maintained by Licensor for Licensee.

	  	Mail	  	  
 Standard receiving, logistics, handling and mail delivery services
are provided by the Licensor. Specialized products, instrumentation, especially when heavy, chemicals, biologicals and regulated products that require special handing will require Licensee to obtain approvals and make special arrangements to support
the necessary logistics and handling.

 The following services are not provided and/or are not included in License. When available, these services can be provided
under a separate agreement with different terms. 
  

	
	Scaling Suites
	
	Office Furniture
	
	Renovations past 365 days of commencement date.
	
	IT Support Level 2 and 4
	
	Any research/work required to be conducted under Biosafety Levels (BSL) 3 or 4 policies and guidelines.
	
	Use of any radioactive material.
	
	Radiation producing equipment (including lasers) will need special approval
	
	Shared TC rooms
	
	Specific Training such as RCRA, DOT, cyanide, etc.
	
	Exclusive use of shared and common spaces
	
	Special PPE
	
	International Phone Calls in Conference Rooms (available upon request and with 24 hour prior notice)
	
	Facsimile Services
	
	Shipping of Packages
	
	Costs of moving in and moving out
	
	Certification and Preventative Maintenance of company owned equipment
	
	Use of MIL accounts for purchases
	
	Biosafety and/or rDNA permits

  
 Exhibit 2 

 Exhibit 3: Insurance Requirements 

1.    Insurance. 

1.1.    Licensee shall, at its own cost and expense, procure and maintain during the Term the following insurance for the
benefit of Licensee and Landlord (as their interests may appear) with insurers financially acceptable and lawfully authorized to do business in the state where the Licensed Premises are located: 

(a)    Commercial General Liability insurance on a broad-based occurrence coverage form, with coverages including but not
limited to bodily injury (including death), property damage (including loss of use resulting therefrom), premises/operations, personal and advertising injury, and contractual liability with limits of liability of not less than $2,000,000 for bodily
injury and property damage per occurrence, $2,000,000 general aggregate, which limits may be met by use of excess and/or umbrella liability insurance provided that such coverage is at least as broad as the primary coverages required herein. 

(b)    Commercial Automobile Liability insurance covering liability arising from the use or operation of any vehicle,
including those owned, hired or otherwise operated or used by or on behalf of Licensee. The coverage shall be on a broad-based occurrence form with combined single limits of not less than $1,000,000 per accident for bodily injury and property
damage. 
 (c)    Commercial Property insurance covering property damage to the full replacement cost value and business
interruption. Covered property shall include all of Licensee’s improvements in the Licensed Premises and Licensee’s property including personal property, furniture, fixtures, machinery, equipment, stock, inventory and improvements and
betterments, which may be owned by Licensee or Licensor and required to be insured hereunder, or which may be leased, rented, borrowed or in the case custody or control of Licensee, or Licensee’s agents, employees or subcontractors. Such
insurance shall be written on an “all risk” of physical loss or damage basis including the perils of fire, extended coverage, electrical injury, mechanical breakdown, windstorm, vandalism, malicious mischief, sprinkler leakage, back-up of sewers or drains, flood, earthquake, terrorism and such other risks Licensor may from time to time designate, for the full replacement cost value of the covered items with an agreed amount endorsement
with no co-insurance. Business interruption coverage shall have limits sufficient to cover Licensee’s lost profits and necessary continuing expenses, including License Fees due Licensor under the
Agreement. The minimum period of indemnity for business interruption coverage shall be twelve (12) months plus twelve (12) months’ extended period of indemnity. 

(d)    Workers’ Compensation insurance as is required by statute or law, or as may be available on a voluntary basis
and Employers’ Liability insurance with limits of note less than the following: each accident, Five Hundred Thousand ($500,000); disease ($500,000); disease (each employee), Five Hundred Thousand Dollars ($500,000). 

(e)    Medical malpractice insurance at limits of not less than $1,000,000 each claim during such periods, if any, that
Licensee engages in the practice of medicine at the Licensed Premises or conducts clinical trials on humans. 

  
 Exhibit 3 

 (f)    Pollution Legal Liability insurance is required if Licensee
stores, handles, generates or treats Hazardous Materials, as determined solely by Licensor, on or about the Licensed Premises. Such coverage shall include bodily injury, sickness, disease, death or mental anguish or shock sustained by any person;
property damage including physical injury to or destruction of tangible property including the resulting loss of use thereof, clean-up costs, and the loss of use of tangible property that has not been
physically injured or destroyed; and defense costs, charges and expenses incurred in the investigation, adjustment or defense of claims for such compensatory damages. Coverage shall apply to both sudden and
non-sudden pollution conditions including the discharge, dispersal, release or escape of smoke, vapors, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste material or other irritants,
contaminants or pollutants into or upon land, the atmosphere or any watercourse or body of water. Claims-made coverage is permitted, provided the policy retroactive date is continuously maintained prior to the commencement date of this agreement,
and coverage is continuously maintained during all periods in which Licensee occupies the Licensed Premises. Coverage shall be maintained with limits of not less than $1,000,000 per incident with a $2,000,000 policy aggregate and for a period of two
(2) years thereafter. 
 1.2.    The insurance required of Licensee shall be with companies at all times having a
current rating of not less than A- and financial category rating of at least Class VII in “A.M. Best’s Insurance Guide” current edition. Licensee shall obtain for Licensor from the
insurance companies/broker or cause the insurance companies/broker to furnish certificates of insurance evidencing all coverages required herein to Licensor. Licensor reserves the right to require complete, certified copies of all required insurance
policies including any endorsements. No such policy shall be cancelable or subject to reduction of coverage or other modification or cancellation except after twenty (20) days’ prior written notice to Licensor from Licensee or its insurers
(except in the event of non-payment of premium, in which case ten (10) days’ written notice shall be given). All such policies shall be written as primary policies, not contributing with and not in
excess of the coverage that Licensor may carry. Licensee’s required policies shall contain severability of interests clauses stating that, except with respect to limits of insurance, coverage shall apply separately to each insured or additional
insured. Licensee shall, at least ten (10) days prior to the expiration of such policies, furnish Licensor with renewal certificates of insurance or binders. Licensee agrees that if Licensee does not take out and maintain such insurance,
Licensor may (but shall not be required to) procure such insurance on Licensee’s behalf and at its cost to be paid by Licensee as part of its License Fee. Commercial General Liability, Commercial Automobile Liability, Umbrella Liability and
Pollution Legal Liability insurance as required above shall name Licensor, Landlord, BioMed Realty, L.P., BioMed Realty, LLC, and BRE Edison L.P., and their respective officers, employees, agents, general partners, members, subsidiaries, affiliates
and Lenders (“Landlord Parties”) as additional insureds as respects liability arising from work or operations performed by or on behalf of Licensee, Licensee’s use or occupancy of the Licensed Premises, and ownership,
maintenance or use of vehicles by or on behalf of Licensee. 
 1.3.    In each instance where insurance is to name
Landlord Parties as additional insureds, Licensee shall, upon Licensor’s written request, also designate and furnish certificates evidencing such Landlord Parties as additional insureds to (a) any lender of Licensor or Landlord holding a
security interest in the Building, (b) the landlord under any lease where under Landlord is a tenant of the real property upon which the Licensed Premises is located if the interest of Landlord is or shall become that of a tenant under a ground
lease rather than that of a fee owner and (c) any management company retained by Licensor or Landlord to manage the Building. 

  
 Exhibit 3 

 1.4.    Licensee assumes the risk of damage to any fixtures, goods,
inventory, merchandise, equipment and leasehold improvements, and Licensor and Landlord shall not be liable for injury to Licensee’s business or any loss of income therefrom, relative to such damage, all as more particularly set forth within
the Agreement. Licensee shall, at Licensee’s sole cost and expense, carry such insurance as Licensee desires for Licensee’s protection with respect to personal property of Licensee or business interruption. 

1.5.    Licensee and its insurers hereby waive any and all rights of recovery against the Landlord Parties with respect to
any loss, damage, claims, suits or demands, howsoever caused, that are covered, or should have been covered, by valid and collectible workers’ compensation, employer’s liability, and other liability insurance required to be carried by
Licensee pursuant to this Exhibit 3, including any deductibles or self-insurance maintained thereunder. If necessary, Licensee agrees to endorse the required workers’ compensation, employer’s liability and other
liability insurance policies to permit waivers of subrogation as required hereunder and hold harmless and indemnify the Landlord Parties for any loss or expense incurred as a result of a failure to obtain such waivers of subrogation from insurers.
Such waivers shall continue so long as Licensee’s insurers so permit. Any termination of such a waiver shall be by written notice to Licensor, containing a description of the circumstances hereinafter set forth in this
Exhibit 3. Licensee, upon obtaining the policies of workers’ compensation, employer’s liability and other liability insurance required or permitted under this Exhibit 3, shall give notice
to its insurance carriers that the foregoing waiver of subrogation is contained in this Exhibit 3. If such policies shall not be obtainable with such waiver or shall be so obtainable only at a premium over that chargeable
without such waiver, then Licensee shall notify Licensor of such conditions. 
 1.6.    Licensor may require insurance
policy limits required under the Agreement to be raised to conform with requirements of Landlord’s or Licensor’s lender. 

1.7.    The provisions of this Exhibit 3 shall survive the expiration of earlier termination of
the Agreement. 

  
 Exhibit 3 

 Exhibit 4: Initial Work 

 
 

 

  
 Exhibit 4EX-10.4

 Exhibit 10.4 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [**], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY
CAUSE COMPETITIVE HARM TO BEAM THERAPEUTICS INC. IF PUBLICLY DISCLOSED. 
 LICENSE AGREEMENT 

This License Agreement (this “Agreement”) is entered into as of this
27th day of June, 2017 (the “Effective Date”), by and between Beam Therapeutics, Inc., a corporation existing under the laws of the State of Delaware, having a place of business
at c/o F-Prime Capital, 1 Main Street 13th Floor Cambridge, MA 02142 (“Licensee”), and President and Fellows of Harvard College, an educational and charitable corporation
existing under the laws and the constitution of the Commonwealth of Massachusetts, having a place of business at Richard A. and Susan F. Smith Campus Center, Suite 727,1350 Massachusetts Avenue, Cambridge, Massachusetts 02138
(“Harvard”). 
 WHEREAS, the technology claimed in the Patent Rights (as defined below) was developed by researchers
at Harvard, including researcher Dr. David R. Liu; 
 WHEREAS, one or more of such researchers is an employee of the Howard
Hughes Medical Institute (“HHMI”) and HHMI has assigned to Harvard its rights in those Patent Rights on which an HHMI employee is an inventor, subject to certain rights retained by HHMI as specifically described below; 

WHEREAS, the research was sponsored in part by the Federal Government of the United States of America and as a consequence this license
is subject to overriding obligations to the Federal Government under 35 U.S.C. §§ 200-212 and applicable regulations; 

WHEREAS, Licensee wishes to obtain a license under the Patent Rights; 

WHEREAS, Harvard desires to have products based on the inventions described in the Patent Rights developed and commercialized to
benefit the public; 
 WHEREAS, such products may be applicable to the improvement of the health of individuals throughout the world;
and 
 WHEREAS, Licensee has represented to Harvard, in order to induce Harvard to enter into this Agreement, that Licensee shall
commit itself to commercially reasonable efforts to develop, obtain regulatory approval for and commercialize such products, and thereafter make them available to the public. 

NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Definitions. 
 As used in this
Agreement, the terms with initial letters capitalized, whether used in the singular or plural form, shall have the meanings set forth in this Article 1 or, if not listed below, the meaning designated in places throughout this Agreement. 

  
 1 

 1.1 “Abandoned Patent Rights” has the meaning set forth in
Section 6.3. 
 1.2 “Achieved Milestone” has the meaning set forth in
Section 4.3.5. 
 1.3 “Acquirer” has the meaning set forth in
Section 4.7. 
 1.4 “Actual Series B Valuation Multiple” means the number, not to exceed [**],
determined by dividing the Series B Pre-Money by the Series A Post-Money. 
 1.5 “Additional
Securities” means shares of capital stock, convertible securities or warrants, options, or other rights to subscribe for, purchase or acquire from Licensee any capital stock of Licensee; provided that, “other rights to subscribe for,
purchase or acquire” shall not include (i) preemptive or other rights to participate in new offerings of securities by Licensee after the Effective Date, (ii) obligations under a purchase agreement for preferred stock of Licensee to
acquire additional shares of such preferred stock on the same terms as those purchased at an initial closing upon the passage of time or meeting (or waiver) of specified Licensee performance conditions or (iii) anti-dilution provisions that
have not been triggered. 
 1.6 “Affiliate” means, with respect to a person, organization or entity, any person,
organization or entity controlling, controlled by or under common control with, such person, organization or entity. For purposes of this definition only, “control” of another person, organization or entity will mean the possession,
directly or indirectly, of the power to direct or cause the direction of the activities, management or policies of such person, organization or entity, whether through the ownership of voting securities, by contract or otherwise. Without limiting
the foregoing, control will be presumed to exist when a person, organization or entity (a) owns or directly controls fifty percent (50%) or more of the outstanding voting stock or other ownership interest of the other organization or entity or
(b) possesses, directly or indirectly, the power to elect or appoint fifty percent (50%) or more of the members of the governing body of the other organization or entity. The parties acknowledge that in the case of certain entities organized
under the laws of certain countries outside of the United States, the maximum percentage ownership permitted by law for a foreign investor may be less than fifty percent (50%), and that in such cases such lower percentage will be substituted in the
preceding sentence. 
 Notwithstanding the foregoing definition, until the earlier of the consummation of a Change of Control of Licensee or [**] after the
closing of the initial public offering of securities of Licensee, (a) the Licensee’s investors shall not be considered to be Affiliates of the Licensee for purposes of this Agreement, including for purposes of
Section 4.5, and (b) portfolio companies owned in whole or in part by the Licensee’s investors or any of them that have no legal connection to nor contract with the Licensee shall not be considered to be
Affiliates of the Licensee for purposes of this Agreement, including for purposes of Section 4.5. A portfolio company owned in whole or in part by the Licensee’s investors or any of them that is not an Affiliate of the
Licensee under the foregoing sentence and enters into a Sublicense agreement with Licensee shall not become an Affiliate of Licensee solely as a result of entering into such Sublicense agreement. A portfolio company that was not an Affiliate under
the foregoing in this 

  
 2 

 
paragraph prior to [**] after the closing of the initial public offering of securities of Licensee shall not become deemed an Affiliate of Licensee merely by the passage of time (i.e., they shall
retain after such time-point their previous non-Affiliate-of-Licensee status for purposes of this Agreement, unless and until a
new control relationship is formed (after such point in time) between Licensee and the applicable portfolio company). 
 1.7
“Agreement” shall have the meaning set forth in the preamble. 
 1.8 “Anti-Dilution Shares” shall have the
meaning set forth in Section 4.1.2. 
 1.9 “Base Editor” means [**]. 

1.10 “Base Editor Product” means [**]. 

1.11 “Base Editor Patent Rights” means any patent application identified under the heading “Base Editor Patent
Rights” in Exhibit 1.70 (“Listed Base Editor Application”), and all other patent applications and patents that fall within the Patent Rights definition of this Agreement based upon the presence of any Listed Base Editor
Application in Exhibit 1.70. The Base Editor Patent Rights are further subcategorized as “C-to-T Base Editor Patent Rights,” “A-to-G Base Editor Patent Rights” and “C-to-G Base Editor Patent Rights”
(each a “Subcategory of Base Editor Patent Rights”). 
 1.12 “Bona Fide Proposal” means a bona fide
proposal by [**] for the research, development and commercialization of a [**] Proposed Product. A Bona Fide Proposal shall include, at a minimum, [**]. 

1.13 “Calendar Quarter” means each of the periods of three (3) consecutive calendar months ending on March 31,
June 30, September 30 and December 31 during the Term. 
 1.14 “Calendar Year” means any twelve
(12) month period commencing on January 1. 
 1.15 “Cap Table” shall have the meaning set forth in
Section 4.1.4.1. 
 1.16 “Challenging Party” has the meaning set forth in
Section 4.5. 
 1.17 “Change of Control” means, with respect to Licensee, (a) a merger or
consolidation of Licensee with a third party which results in the voting securities of Licensee outstanding immediately prior thereto ceasing to represent at least fifty percent (50%) of the combined voting power of the surviving entity immediately
after such merger or consolidation, (b) a transaction or series of related transactions in which a third party, together with its Affiliates, becomes the owner of more than fifty percent (50%) of the combined voting power of Licensee’s
outstanding securities other than through issuances by Licensee of securities of Licensee in a bona fide financing transaction or series of related bona fide financing transactions, or (c) the sale, lease or other transfer to a third party of
all or substantially all of Licensee’s assets or business to which this Agreement relates. 

  
 3 

 1.18 “Clinical Study” means a Phase 1 Clinical Study, Phase 2 Clinical
Study, Phase 3 Clinical Study, or such other study in humans that is conducted in accordance with good clinical practices and is designed to generate data in support or maintenance of an NDA or other similar application for Regulatory Approval
(appropriate to the type of product candidate or product). 
 1.19 “Competitor” means any entity (a) listed in
Exhibit 1.19 or (b) that is an Affiliate of an entity described under the foregoing clause (a). Licensee shall have the right to make good faith updates to the Competitors listed in Exhibit 1.19, by written notice to Harvard from
time to time, to account for changes since the Effective Date in the entities that, upon the advice of patent counsel to Licensee, Licensee reasonably believes hold or claim to hold a blocking patent position on any Base Editor or any form of Base
Editing (other than such position based on a [**] or indication). 
 For purposes of determining the meaning of the term “Affiliate” in the
foregoing clause (b) of this definition with respect to a competitor entity, the second paragraph of Affiliate set forth in Section 1.6 shall be replaced with the following: “Notwithstanding the foregoing
definition, (a) a competitor entity’s investors shall not be considered to be Affiliates of such competitor entity and (b) portfolio companies owned in whole or in part by such competitor entity’s investors that have no legal
connection to nor contract with such competitor entity shall not be considered Affiliates of such competitor entity for purposes of this Agreement, including for purposes of this Section 1.19. A portfolio company owned in
whole or in part by such competitor entity’s investors that is not an Affiliate of such competitor entity under the foregoing sentence and enters into a licensing agreement with such competitor entity shall not become an Affiliate of such
competitor entity solely as a result of entering into such licensing agreement. 
 1.20 “Confidential Information” shall
have the meaning set forth in Section 11.1.1.3. 
 1.21 “Covered” means, with respect to a given
product, process, method or service, that a Valid Claim would (absent a license thereunder or ownership thereof) be infringed by the making, using, selling, offering for sale, importation or other exploitation of such product, process, method or
service. With respect to a claim of a pending patent application, “infringed” refers to activity that would infringe or be covered by such Valid Claim if it were contained in an issued patent. Cognates of the word “Covered” shall
have correlative meanings. 
 1.22 “Developed Country” means any country other than a Developing Country on the Effective
Date and any countries that cease to be Developing Countries after the Effective Date from and after the date that they cease to be Developing Countries in accordance with the definition below. 

1.23 “Developing Country” means any low-income or lower-middle-income country, as
defined by the World Bank, other than those countries listed in Exhibit 1.23. 
 1.24 “Development Milestones” means
the development and regulatory milestones set forth in Exhibit 3.1.1 hereto. 

  
 4 

 1.25 “Development Plan” means the plan for the development and
commercialization of Licensed Products attached hereto as Exhibit 3.2 as such plan may be adjusted from time to time pursuant to Section 3.2. 

1.26 [**] 
 1.27
“Dispute” shall have the meaning set forth in Section 11.7. 
 1.28 “Effective
Date” shall have the meaning set forth in the preamble. 
 1.29 “Enabled Product” means any product that
(a) is made, identified, discovered, developed, optimized, characterized, selected, derived from or determined to have utility, in whole or in part, by the use or modification of any Patent Rights or any technology or invention described
therein or Covered thereby and is (b) is not a Licensed Product. 
 1.30 “EU” means the European Union. 

1.31 “EU Major Market Countries” means the United Kingdom, Germany, Italy, France and Spain. 

1.32 “Exempted Issuances” means: shares of common stock issued or issuable, and options, warrants or other rights to purchase
Common Stock sold, issued or issuable, by Licensee (i) to a corporation, partnership or other entity (other than a corporation, partnership or other entity that is an Affiliate (which definition for purposes of this
Section 1.32 shall be deemed to exclude the second paragraph of Section 1.6)) of Licensee or to the shareholders of such corporation, partnership or other entity pursuant to the acquisition of such
corporation, partnership or other entity by Licensee by merger, purchase of substantially all of the assets or similar transaction (but excluding any shares, options, warrants or other rights issued or issuable as incentive compensation); and
(ii) to an academic institution, inventor, biopharmaceutical company, or intellectual property holding company (in each case, other than a corporation, partnership or other entity that is an Affiliate (which definition for purposes of this
Section 1.32 shall be deemed to exclude the second paragraph of Section 1.6)) of Licensee in consideration of such person’s entering into a sponsored research, collaboration, technology or
intellectual property license, development, OEM, marketing or other similar agreement with Licensee, including any such agreement entered into in settlement of litigation (but excluding any shares, options, warrants or other rights issued or
issuable as incentive compensation); provided, however, that shares issued or issuable to an investor in Licensee in connection with any transaction contemplated under clause (i) or (ii) (other than shares issued to such investor as a
shareholder of an entity as contemplated under clause (i)) shall not be Exempted Issuances. 
 1.33 “Executive Officers”
shall have the meaning set forth in Section 11.7. 
 1.34 “Explanation” shall have the meaning set
forth in Section 3.4. 
 1.35 “FDA” means the United States Food and Drug Administration. 

  
 5 

 1.36 “Field” means the prevention or treatment of any and all human
disease(s) and condition(s), [**]. The Field excludes the field of agriculture (including improving the nutritional contents of food crops and/or food animals for use as food, where the ultimate product is regulated as a food rather than a drug,
biologic, or other form of therapeutic). To avoid doubt, the Field also excludes research, development, commercialization or other use or exploitation of products for non-human animal or plant applications.

 1.37 “Financing Threshold” means an aggregate total investment of [**] U.S. Dollars ($[**]) in cash since the date of
incorporation or formation of Licensee, in one or a series of related or unrelated transactions, in each case, in exchange for Licensee’s capital stock. 

1.38 “First Commercial Sale” means the date of the first sale by Licensee, its Affiliate or a Sublicensee of a Licensed
Product to a third party for end use or consumption of such Licensed Product following receipt of any required Regulatory Approval in the country in which such Licensed Product is sold, excluding, however, any sale or other distribution for use in a
clinical study. 
 1.39 “FSFD” means, with respect to a clinical study, the first dose of the first subject dosed in such
clinical study. 
 1.40 “Fully-Diluted Basis” means, as of a specified date, the number of shares of common stock of
Licensee then-outstanding plus the number of shares of common stock of Licensee issuable upon exercise or conversion of then-outstanding convertible securities or warrants, options, or other rights to subscribe for, purchase or acquire from Licensee
any capital stock of Licensee (which shall be determined without regard to whether such securities or rights are then vested, exercisable or convertible) plus, without duplication, the number of shares reserved and available for future grant under
any then-existing equity incentive plan of Licensee; provided that, for clarity, “other rights to subscribe for, purchase or acquire” shall not include (i) preemptive or other rights to participate in new offerings of securities by
Licensee, (ii) obligations under a purchase agreement for preferred stock of Licensee to acquire additional shares of such preferred stock on the same terms as those purchased at an initial closing upon the passage of time or meeting (or
waiver) of specified Licensee performance conditions or (iii) anti-dilution provisions that have not been triggered. 
 1.41 [**] 

1.42 “Generic/Biosimilar Product” means, with respect to a Licensed Product in a particular country, any pharmaceutical,
biopharmaceutical (including gene therapies and cell therapies), or biologic product that: (a) (i) contains the same active pharmaceutical ingredient(s) as such Licensed Product, and is approved by the Regulatory Authority in such country with
the same or substantially the same labeling as such Licensed Product for at least one indication in the Field or (ii) is approved by the Regulatory Authority in such country or jurisdiction as a substitutable generic or substitutable biosimilar
for such Licensed Product for an indication in the Field or otherwise is approved in a manner that relied on or incorporated data submitted by Licensee, its Affiliates or Sublicensees, in connection with the regulatory filings for such

  
 6 

 
Licensed Product, including through an ANDA or 505(b)(2) NDA, or any enabling legislation thereof, or any similar procedure provided for biosimilars or that may be applicable to gene therapy
products in each case now or in the future; and (b) is sold in such country or jurisdiction by a third party that is not a Sublicensee or an Affiliate of Licensee, or a distributor of any of them. Any product or component thereof (including any
Licensed Product or component thereof) licensed, marketed, sold, manufactured or produced by Licensee or its Affiliates or Sublicensees, or any distributor of any of them, will not constitute a Generic/Biosimilar Product (but the identical
product marketed by another third party is a Generic/Biosimilar Product if it falls within the definition thereof as set forth herein). 

1.43 “Harvard” shall have the meaning set forth in the preamble. 

1.44 “Harvard Confidential Information” shall have the meaning set forth in Section 11.1.1.1. 

1.45 “Harvard Names” shall have the meaning set forth in Section 11.4. 

1.46 “HHMI” shall have the meaning set forth in the preamble. 

1.47 “HHMI Indemnitees” shall have the meaning set forth in Section 9.1.3. 

1.48 “HHMI Names” shall have the meaning set forth in Section 11.4. 

1.49 “IND” means an FDA Investigational New Drug application, or equivalent application or submission for approval to conduct
human clinical investigations filed with or submitted to a Regulatory Authority in conformance with the requirements of such Regulatory Authority. 

1.50 “Initial Public Offering” means a firm-commitment underwritten public offering of equity securities by Licensee (or an
Acquirer) or its (or their) Affiliate pursuant to an effective registration statement under the Securities Act of 1933, as amended. 
 1.51
“Initiation of GLP Toxicology” means the first dose in a non-human animal of a Licensed Product in toxicology testing conducted in accordance with Good Laboratory Practices under the
guidelines of 21 U.S. CFR.§ 58.1 et seq. (or its successor regulation) with the intention of using the results of toxicology testing in support of the filing of an IND for which other IND-enabling
activities have been completed or are underway at the time of determination of “achievement of Initiation of GLP Toxicology.” 

1.52 “Indemnitees” shall have the meaning set forth in Section 9.1.1. 

1.53 “Law” shall have the meaning set forth in Section 11.1.3.3. 

  
 7 

 1.54 “Licensed Product” means on a country-by-country basis, (a) any product candidate or product the making, using, selling, offering for sale, importing or exporting of which in the country in question would (without the license granted
hereunder) infringe directly, indirectly by inducement of infringement, or indirectly by contributory infringement, at least one pending Valid Claim of the Base Editor Patent Rights (were it to have issued) or issued Valid Claim of the Base Editor
Patent Rights in that country, or (b) any Base Editor Product the making, using, selling, offering for sale, importing or exporting of which in the country in question would (without the license granted hereunder) infringe directly, indirectly
by inducement of infringement, or indirectly by contributory infringement, at least one pending Valid Claim of the Supporting Technology Patent Rights (were it to have issued) or issued Valid Claim of the Supporting Technology Patent Rights in that
country. 
 1.55 “Licensee” shall have the meaning set forth in the preamble. 

1.56 “Licensee Confidential Information” shall have the meaning set forth in Section 11.1.1.2. 

1.57 “Licensee Patents” shall have the meaning set forth in Section 1.69. 

1.58 “Loss of Market Exclusivity” means, on a Licensed
Product-by-Licensed Product, country-by-country, and Calendar Year-by-Calendar Year basis, the following has occurred: 
 (a) the
Net Sales of such Licensed Product in such country in such Calendar Year are less than [**] percent ([**]%) of the peak [**] Net Sales of such Licensed Product in such country in any preceding [**]; 

(b) the decline in such Net Sales is attributable in material part to the marketing or sale in such country of a Generic/Biosimilar Product
with respect to such Licensed Product by a third party that is not a Sublicensee or a distributor of any of Licensee or its Affiliates or Sublicensees for the applicable Licensed Product; 

(c) Such Generic/Biosimilar Product is being marketed and sold by such third party in the Calendar Year for which a determination of Loss of
Market Exclusivity is being made; and 
 (d) Licensee has used (or has commenced using or is in the course of using) reasonable commercial
efforts to exclude such Generic/Biosimilar Product from marketing or sale by such third party in such country. 
 1.59 “Maintenance
Fees” has the meaning set forth in Section 4.2. 
 1.60 “[**] License” has the
meaning set forth in Section 2.5.10. 
 1.61 “Milestone Event” means any milestone event indicated
in Section 4.3.1 or 4.3.2. 

  
 8 

 1.62 “NDA” means a New Drug Application filed with the FDA or an equivalent
application to any Regulatory Authority (including a Biologies License Application, or BLA, or its foreign equivalent) requesting Regulatory Approval for a new product. 

1.63 “Net Sales” means the gross amount billed or invoiced by or on behalf of Licensee, its Affiliates, and Sublicensees (in
each case, the “Invoicing Entity”) on sales, leases or other transfers of Licensed Products, less the following to the extent applicable with respect to such sales, leases or other transfers and not previously deducted from the
gross invoice price: (a) customary trade, quantity or cash discounts to the extent actually allowed and taken (including discounts in the form of inventory management fees and chargebacks); (b) amounts actually repaid or credited by reason of
rejection or return of any previously sold, leased or otherwise transferred Licensed Products; (c) customer freight and/or insurance charges that are paid by or on behalf of the Invoicing Entity; (d) to the extent separately stated on
purchase orders, invoices or other documents of sale, any sales, value added or similar taxes, custom duties or other similar governmental charges levied directly on the production, sale, transportation, delivery or use of a Licensed Product that
are paid by or on behalf of the Invoicing Entity, but not including any tax levied with respect to income; (e) rebates granted or given; and (f) a reasonable allowance for uncollectible accounts; provided that: 

1.63.1 in any transfers of Licensed Products between an Invoicing Entity and an Affiliate of such Invoicing Entity not for the purpose of
resale by such Affiliate and not for use in a clinical trial or compassionate use or as free marketing samples, Net Sales will be equal to the fair market value of the Licensed Products so transferred, assuming an arm’s length transaction made
in the ordinary course of business, and 
 1.63.2 in the event that an Invoicing Entity receives
non-cash consideration for any Licensed Products or in the case of transactions not at arm’s length with a non-Affiliate of an Invoicing Entity, Net Sales will be
calculated based on the fair market value of such consideration or transaction, assuming an arm’s length transaction made in the ordinary course of business, not to exceed the list price of the Licensed Products in any event. 

Transfers of Licensed Products by an Invoicing Entity to its Affiliate or a Sublicensee for resale by such Affiliate or Sublicensee or use in
clinical trials, for compassionate use, or use as free marketing samples, will not be deemed Net Sales. Instead, if applicable, Net Sales will be determined based on the gross amount billed or invoiced by such Affiliate or Sublicensee upon resale of
such Licensed Products to a third party purchaser. Transfers of Licensed Products by an Invoicing Entity for use in clinical trials, for compassionate use, or use as free marketing samples will not be deemed Net Sales unless such Invoicing Entity
bills or invoices for such Licensed Products, in which case, Net Sales will be determined based on the gross amount billed or invoiced by such Invoicing Entity upon transfer for such use. 

Notwithstanding the foregoing definition, to the extent of Net Sales arising under a Sublicense, provided that the net Sales royalty to
Licensee under such Sublicense after subtracting the Net Sales royalty to Harvard is at least as great as the royalty to Harvard provided for hereunder, the definition that shall be used to calculate Net Sales for purposes of this Agreement shall be
such reasonable and customary Net Sales definition as is set forth in the Sublicense agreement, rather than the definition set forth above. 

  
 9 

 1.64 “Non-Human/Recombinant Materials”
means any non-human animal, chimera, non-human animal cell, cell from a chimera, non-human organ, organ from a chimera, non-human cell, portion of any of the foregoing, plant, plant cell, or portion of or material derived from any of the foregoing, including any item in the foregoing list that may also contain human genetic material
or genetic material of human origin or be otherwise genetically engineered. 
 1.65
“Non-Royalty Sublicense Income” means all consideration received by Licensee or its Affiliates for a Sublicense such as license or distribution fees, milestone or option payments, or license
maintenance fees, including any consideration received by Licensee under a Sublicense, but excluding reimbursement of future research and development by or for the Licensee at Licensee’s fully burdened cost, reimbursement for patent expenses
(including prosecution and enforcement expenses) paid to third parties at out-of-pocket cost to Licensee, reimbursement of commercialization expenses of Licensee under a
co-promotion arrangement at Licensee’s cost (determined in accordance with U.S. generally accepted accounting principles consistently applied), reimbursement of license, option, or other fees paid to
third parties at out-of-pocket cost to Licensee, proceeds from equity investments to the extent at fair market value, principal amount of loans to the extent not
forgiven, and royalties on Net Sales of Licensed Products. To avoid doubt as to the calculation of Non-Royalty Sub license Income, “equity investments to the extent at fair market value” means that
only a premium over the fair market value of the security received for the equity investment (such fair market value being determined by reference to the price paid by a non-Sublicensee Third Party for the
equivalent Licensee security (equal to such price wherever available) or by a reasonable methodology where such non-Sublicensee Third Party price is not available) would be included in Non-Royalty Sublicense Income, and if a loan is partially forgiven, then only the forgiven portion of the loan would be included in the Non-Royalty Sublicense Income. In the
event that non-cash consideration is received as Sublicense Income, Sublicense Income shall be calculated based on the fair market value of such non-cash consideration,
or, at Licensee’s election, Licensee may distribute Harvard’s share to Harvard in kind; provided that Licensee may only elect to make such a distribution if such non-cash consideration is a freely
transferable security (except for such restrictions on transfer imposed by law). For clarity, a license of intellectual property rights that are necessary for Licensee to make, have made use, have used, sell, offer for sale, have sold, export and
import Licensed Products, and other routine contractual covenants that do not involve the payment of any monetary consideration and are customary in the type of deal that the Sublicense is included in (including covenants providing for the research,
development, supply, and commercialization responsibilities of the Sublicensee, confidentiality provisions, licenses or other rights or forbearances with respect to improvements and other technologies and intellectual property, retention of co-promotion rights or options to obtain co-promotion rights to the Licensed Product(s) covered by such Sublicense, and indemnification) shall not be deemed non-cash consideration. For purposes of this Section, “all consideration received by Licensee or its Affiliates for a Sublicense” shall include all consideration received by Licensee or its Affiliates for
any option, license, sublicense, standstill, covenant not to sue or other right granted under any 

  
 10 

 
other rights owned or controlled (for example, by virtue of a license granted by a third party) by Licensee or its Affiliate, or other agreement or arrangement entered into by Licensee or its
Affiliate, in connection with a Sublicense. All rights relevant to making, using, selling, offering to sell or importing particular Licensed Products or Enabled Products to which a Sublicense relates shall be included in or deemed to be granted in
connection with the Sublicense under which the rights granted to Licensee hereunder are sublicensed with respect to such Licensed Products or Enabled Products. If Licensee has an opportunity to enter into a profit sharing deal involving a
Sublicense, and requests discussions with Harvard, then Harvard shall discuss and negotiate in good faith with Licensee for an appropriate exclusion from Non-Royalty Sublicense Income for payments made as a
share of profits (as opposed to milestones or other similar payments) and/or opportunity for Harvard to participate in a portion of the profit share (e.g., the opportunity for Harvard to fund a percentage of the Licensee’s share of the
profit share (and be responsible for the same proportion of losses in the profit share) in exchange for receiving such same percentage of the profit share payments received by Licensee in such deal), and if the parties reach written agreement as to
any of the foregoing it shall supersede this definition with respect to such profit share; recognizing that a profit share deal would likely be un-economic for the Licensee to enter into without such an
exclusion or other arrangement with Harvard, Harvard agrees to negotiate promptly and in good faith with Licensee. In addition, to the extent that Licensee enters into a cross-license with a Third Party to achieve freedom-to-operate for Licensed Products while providing the Third Party with freedom-to-operate with respect to all or some
portion of the Licensed Patents, the value of the licenses to Licensee as part of such cross-license, and the other routine contractual covenants by other parties to such cross-license, shall not be deemed to give rise to Non-Royalty Sublicense Income for purposes of this Agreement. In addition, no Change of Control transaction or other transaction giving rise to potential payments under Section 4.7 of this
Agreement shall be deemed to be a Sublicense nor to give rise to Non-Royalty Sublicense Income. 

1.66 “Osage” means Osage University Partners or any fund under common management with Osage University Partners. 

1.67 “Other Active Component(s)” shall have the meaning set forth in Section 4.4.5. 

1.68 “Party” or “party” means Harvard or Licensee and “Parties” or “parties” means
both of them. 

  
 11 

 1.69 “Patent Challenge” means any direct — or indirect through the
actions of another acting on Licensee’s, its Affiliate’s, or a Sublicensee’s behalf or upon its or their instruction—dispute or challenge, or any knowing, willful, or reckless assistance in the dispute or challenge by another, of
the validity, patentability, scope, priority, construction, non-infringement, inventorship, ownership or enforceability of any Patent Right or any claim thereof, or opposition or assistance in the opposition
of the grant of any letters patent within the Patent Rights, in any legal or administrative proceedings in a court of law, before the United States Patent and Trademark Office or other similar agency or tribunal in any jurisdiction, or in
arbitration including, without limitation, by reexamination, inter partes review, opposition, interference, post-grant review, nullity proceeding, preissuance submission, third party submission, derivation proceeding or declaratory judgment
action. For clarity, a Patent Challenge shall not include (1) arguments made by Licensee that (a) distinguish the inventions claimed in patents or patent applications owned or controlled by Licensee (“Licensee Patents”)
from those claimed in the Patent Rights but (b) do not disparage the Patent Rights or challenge the validity, scope, or enforceability of the Patent Rights’ claims (excluding any claims that have been abandoned, lapsed, expired, or are
otherwise no longer in force) under applicable patent laws, regulations or administrative rules, in each case (i) in the ordinary course of ex parte prosecution of the Licensee Patents or (ii) in inter partes proceedings before the
United States Patent and Trademark Office or other agency or tribunal in any jurisdiction (excluding interferences or derivation proceedings), or in arbitration, wherein the Licensee Patents have been challenged; (2) arguments or assertions as
to whether the Patent Rights Cover a given product, to the extent arising in a Suit brought by Harvard; (3) Licensee payments of patent costs to another licensor or assignor of Licensee Patent Rights as required by the agreement under which the
Licensee obtained rights to such patent rights, even if the licensor or assignor is engaging in behavior or presenting arguments that would themselves be considered a Patent Challenge if done by the Licensee; nor (4) Licensee being named as an
essential party, real party in interest or other status similar to either of the foregoing, in an interference between Patent Rights and Licensee Patents or other adversarial proceeding similar to an interference. 

1.70 “Patent Rights” means, in each case to the extent owned and controlled by Harvard: (a) the patents and patent
applications listed in Exhibit 1.70 (including the PCT and/or U.S. utility application claiming priority to such application(s) that are filed on such application(s)); (b) any patent or patent application to which any patent application
identified in (a) claims priority and any patent or patent application that claims priority to (excluding continuation-in-part patents or patent applications except
to the extent described in (d) below) or is a divisional, continuation, reissue, renewal, reexamination, substitution or extension of any patent application identified in (a); (c) any patents issuing on any patent application identified in
(a) or (b), including any reissues, renewals, reexaminations, substitutions or extensions thereof; (d) any claim of a continuation-in-part application or
resulting patent (including any reissues, renewals, reexaminations, substitutions or extensions thereof) that is entitled to the priority date of, and is directed specifically to subject matter specifically described in, at least one of the patents
or patent applications identified in (a), (b) or (c); (e) any foreign counterpart (including PCTs) of any patent or patent application identified in (a), (b) or (c) or of the claims identified in (d) ; and (f) any supplementary protection
certificates, pediatric exclusivity periods, any other patent term extensions and exclusivity periods and the like of or based on any patents and patent applications identified in any of (a) through (e). 

  
 12 

 1.71 “Phase 1 Clinical Study” means a clinical study in any country
involving the initial introduction of an investigational new drug into humans, typically designed to determine the metabolism and pharmacologic actions of the drug in humans, the side effects associated with increasing doses, and, if possible, to
gain early evidence on effectiveness. In the United States, “Phase 1 Clinical Study” means a human clinical study that satisfies the requirements of 21 C.F.R. § 312.21(a). 

1.72 “Phase 2 Clinical Study” means a human clinical study in any country conducted to evaluate the effectiveness of a drug
for a particular indication or indications in patients with the disease or condition under study and, possibly, to determine the common short-term side effects and risks associated with the drug. In the United
States, “Phase 2 Clinical Study” means a human clinical study that satisfies the requirements of 21 C.F.R. § 312.21 (b). 

1.73 “Phase 3 Clinical Study” means a human clinical study in any country, whether controlled or uncontrolled, that is
performed after preliminary evidence suggesting effectiveness of the drug under evaluation has been obtained, and intended to gather the additional information about effectiveness and safety that is needed to evaluate the overall benefit-risk
relationship of the drug and to provide an adequate basis for physician labeling. In the United States, “Phase 3 Clinical Study” means a human clinical study that satisfies the requirements of 21 C.F.R. § 312.21 (c). 

1.74 “Plan” shall have the meaning set forth in Section 3.4. 

1.75 [Reserved]. 
 1.76
“Proceeds Factor” means a number, not more than [**], determined by dividing the gross proceeds to Licensee from an applicable sale of Series B Preferred Stock by $[**]. 

1.77 “Regulatory Approval” means, with respect to a particular product or service, receipt of all regulatory clearances or
approvals (which in the case of the EU may be through the centralized procedure) required in the jurisdiction in question for the sale of the applicable product or service in such jurisdiction, including receipt of pricing approval, if any, legally
required for such sale. 
 1.78 “Regulatory Authority” means any applicable government regulatory authority involved in
granting approvals for the clinical testing, manufacturing and marketing of a Licensed Product, including, in the United States, the FDA and the RAC. 

1.79 “Related Product” means with respect to a Licensed Product (the “reference Licensed Product”), a Licensed
Product targeting (a) the [**] and (b) (i) same [**] or [**] or (ii) a [**] or [**] whose alteration would have the same intended clinical outcome in the same intended patient population, in each case of clause (a), (b)(i) and (b)(ii)
as the reference Licensed Product. 

  
 13 

 1.80 “RNA Editor” means a Base Editor that solely converts a nucleobase in
polyribonucleic acid. 
 1.81 “RNA Editor Product” means a product candidate or product that contains or delivers an RNA
Editor. 
 1.82 “Series A Investors” means [**], together with any other investors under common management with the
foregoing. 
 1.83 “Series A Post-Money” means an amount determined by multiplying (a) the weighted average price per
share of the Series A Preferred Stock sold by Licensee to the Series A Investors prior to the time of determination of the Actual Series B Valuation Multiple by (b) the number of shares of outstanding capital stock of Licensee on a
Fully-Diluted Basis immediately prior to the first sale and issuance of Series B Preferred Stock (excluding for this purpose any securities issued in a bridge or similar financing that are convertible into, and are, at such first sale and issuance,
converted into, Series B Preferred Stock). For purposes of the foregoing, any shares of Series A Preferred Stock that are deemed Series B Preferred Stock by operation of the definition of Series B Preferred Stock shall he excluded from the
calculation of the weighted average price per share of the Series A Preferred Stock for purposes of clause (a) and shall be deemed excluded from the number of shares of outstanding capital stock for purposes of clause (b). 

1.84 “Series A Preferred Stock” means Licensee’s Series A Preferred Stock, par value $0.0001 per share. 

1.85 “Series B Pre-Money” means an amount determined by multiplying (a) the
weighted average price per share of Series B Preferred Stock sold by Licensee in a closing at the time of determination of the Actual Series B Valuation Multiple (including in any such weighted average calculation any discount attributable to the
conversion of the first up-to-$[**] in principal amount of debt securities issued in a bridge or similar financing that converted into Series B Preferred Stock and
excluding any other discount attributable to the conversion of such debt securities in excess of the first up-to-$[**] in principal amount) by (b) the number of
shares of outstanding capital stock of Licensee on a Fully-Diluted Basis immediately prior to such closing (excluding for this purpose any securities issued in a bridge or similar financing that are convertible into, and are, at such closing,
converted into, Series B Preferred Stock). 
 1.86 “Series B Preferred Stock” means any series of preferred stock of
Licensee sold by Licensee in a financing transaction other than Series A Preferred Stock, provided that if Licensee has sold $[**] of Series A Preferred Stock, the term “Series B Preferred Stock” shall include any additional shares of
Series A Preferred Stock sold by Licensee. 
 1.87 “Shares” has the meaning set forth in
Section 4.1.1. 

  
 14 

 1.88 “Skipped Milestone” has the meaning set forth in
Section 4.3.5. 
 1.89 “Subcategory Product Milestones” means the Development Milestones
identified under the heading “Subcategory Product Milestones” in Exhibit 3.1.1. 
 1.90 “Sublicense” means:
(a) any right (including any sublicense or covenant not to sue) granted by Licensee to any third party, under or with respect to or permitting any use or exploitation of any of the Patent Rights or otherwise permitting the development,
manufacture, marketing, distribution, use and/or sale of Licensed Products or Enabled Products; (b) any option or other right granted by Licensee to any third party to negotiate for or receive any of the rights described under clause (a); or
(c) any standstill or similar obligation undertaken by Licensee toward any third party not to grant any of the rights described in clause (a) or (b) to any other third party; in each case regardless of whether such grant of rights, option,
standstill, or similar undertaking is referred to or is described as a sublicense. In addition, a transfer of an Affiliate of Licensee that holds any right, license, option or other right of the type described above (i.e., that would fall within
this definition of Sublicense had such right, license, option or other right been granted by Licensee to a third party) to a third party (whether by merger, sale of assets, sale of stock or otherwise) shall be deemed a Sublicense. 

1.91 “Sublicensee” means any person or entity granted a Sublicense. 

1.92 “Subscription Agreement” means a Subscription Agreement in the form attached hereto as Exhibit 4.1.1. 

1.93 “Supporting Technology Patent Rights” means any patent application identified under the heading “Supporting
Technology Patent Rights” in Exhibit 1.70 (“Listed Supportive Technology Filings”), and all other patent applications and patents that fall within the Patent Rights definition of this Agreement based upon the presence of
any Listed Supportive Technology Filing in Exhibit 1.70. 
 1.94 “Term” means the term of this Agreement as set forth
in Section 10.1. 
 1.95 “Third Party” or “third party” means an entity that is
not Harvard, Licensee, or an Affiliate of Licensee. 
 1.96 “[**] Proposed Product” means an actual or potential
Licensed Product [**] that (a) [**] is actively researching, developing or commercializing and (b) with respect to which [**] has not entered into an agreement containing an option that remains in effect or a term sheet under which Licensee
remains in good faith negotiations of a definitive agreement. 
 1.97 “United States” means the United States of America.

 1.98 “Valid Claim” means: (a) a claim of an issued and unexpired patent within the Patent Rights that has not been
(i) held permanently revoked, unenforceable, unpatentable or invalid by a decision of a court or governmental body of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, (ii) rendered unenforceable
through disclaimer or 

  
 15 

 
otherwise, (iii) abandoned or (iv) permanently lost through an interference or opposition proceeding without any right of appeal or review, or not appealed or put in for review within
the applicable statutory or regulatory period; or (b) a pending claim of a pending patent application within the Patent Rights that (i) has been asserted and continues to be prosecuted in good faith, (ii) has not been abandoned or
finally rejected without the possibility of appeal or refiling, and (iii) has not been pending more than [**] years from the date of the first substantive office action on the filing. A pending claim that ceases to be a Valid Claim due to the
foregoing time limit shall, if it later issues, qualify again as a Valid Claim, provided that it meets the requirements of clauses (a)(i)-(iv) of the foregoing definition. 

1.99 “Valuation Factor” means a number, not to exceed [**], determined by dividing the Actual Series B Valuation Multiple by
[**]; provided, however, that if the Series B Preferred Stock sold by Licensee that gives rise to an obligation by Licensee to make a payment under Section 4.3.2.2 is sold in a financing transaction in which the Series A
Investors, along with other investors who purchased Series A Preferred Stock sold by Licensee prior to the time of determination of the Actual Series B Valuation Multiple, purchase more than [**] percent ([**]%) of the Series B Preferred Stock sold
in such financing transaction, the Valuation Factor shall be [**]. 
 1.100 “Xeno-Transplantation” [**]. 

2. License. 
 2.1 License Grants

 2.1.1 Exclusive License Grants. 

2.1.1.1 Subject to the terms and conditions set forth in this Agreement, Harvard hereby grants to Licensee an exclusive,
worldwide, royalty-bearing license, sublicensable solely in accordance with Section 2.4 below, under the Base Editor Patent Rights, solely to make, have made, offer for sale, sell, have sold and import Licensed Products,
solely for use within the Field. The foregoing exclusive license to make and have made Licensed Products solely for use within the Field expressly includes the exclusive license to make and have made in
Non-Human/Recombinant Materials a Licensed Product solely for use within the Field. 

2.1.1.2 Subject to the terms and conditions set forth in this Agreement, Harvard hereby grants to Licensee an exclusive,
worldwide, royalty-bearing license, sublicensable solely in accordance with Section 2.4 below, under the Supporting Technology Patent Rights, solely to make, have made, offer for sale, sell, have sold and import Base Editor
Products, solely for use within the Field. The foregoing exclusive license to make and have made Base Editor Products solely for use within the Field expressly includes the exclusive license to make and have made in
Non-Human/Recombinant Materials a Base Editor Product solely for use within the Field. 

  
 16 

 2.1.1.3 For the avoidance of doubt, the exclusive licenses under this
Section 2.1.1 do not include a license to make, have made, offer for sale, sell, have sold and import Enabled Products. 

2.1.2 Non-Exclusive License Grant. Subject to the terms and conditions set forth in this
Agreement, Harvard hereby grants to Licensee a non-exclusive, worldwide, royalty-bearing license, sublicensable solely in accordance with Section 2.4 below, under the Patent Rights,
to research, have researched, develop (including human clinical development) and have developed (including human clinical development) Enabled Products. Such license shall not include selling, offering for sale, having sold, importing or otherwise
commercializing Enabled Products. 
 2.2 Reservation of Rights, Certain Restrictions. Notwithstanding anything herein to the contrary:

 2.2.1 Harvard retains the right, for itself and for other
not-for-profit research organizations, to practice the Patent Rights within the scope of the license granted above, solely for research, educational and scholarly
purposes; 
 2.2.2 the United States federal government retains rights in the Patent Rights pursuant to 35 U.S.C. §§ 200-212 and 37 C.F.R. § 401 et seq., and any right granted in this Agreement greater than that permitted under 35 U.S.C. §§ 200-212 or 37 C.F.R. § 401 et
seq. will be subject to modification as may be required to conform to the provisions of those statutes and regulations; 
 2.2.3 Harvard
retains the rights, for itself, set forth in Sections 2.5, 3.1.2, 3.1.3 and 6.3; 
 2.2.4 Further, Licensee
acknowledges that it has been informed that the Patent Rights were developed, at least in part, by employees of HHMI and that HHMI has a fully paid-up, non-exclusive,
irrevocable, worldwide license to exercise any intellectual property rights with respect to such Patent Rights for research purposes, with the right to sublicense to non-profit and governmental entities (the
“HHMI License”). Any and all licenses and other rights granted under this Agreement are explicitly made subject to the HHMI License; and 

2.2.5 Further, Licensee agrees that the licenses granted by Harvard to Licensee hereunder shall not include any license under the Patent Rights
for human germline modification, including intentionally modifying the DNA of human embryos or human reproductive cells (the field of “Human Germline Modification”). Harvard hereby covenants that it shall not grant any entity any
license under the Patent Rights to practice Human Germline Modification. Licensee agrees that it shall not use the Patent Rights for Human Germline Modification. 

  
 17 

 2.3 Affiliates. The licenses granted to Licensee under
Section 2.1.1 and Section 2.1.2 include the right to have some or all of Licensee’s rights or obligations under this Agreement exercised or performed by one or more of Licensee’s
Affiliates, solely on Licensee’s behalf; provided, however, that: 
 2.3.1 prior to any Affiliate exercising or performing any of
Licensee ’ s rights or obligations under this Agreement, such Affiliate shall agree in writing with Licensee to be bound by the terms and conditions of this Agreement as if it were Licensee hereunder, including specific written agreement
(a) to indemnify, defend and hold Indemnitees and HHMI Indemnitees harmless, and carry insurance, under the same terms as Article 9 of this Agreement, and (b) that Harvard and HHMI are express third party beneficiaries of such
writing; provided that nothing in this Section 2.3.1 is intended to increase the payments (or the number of payments) to Harvard under this Agreement (for non-limiting examples, an
Affiliate agreeing to the terms and conditions of this Agreement as if it were Licensee hereunder shall not increase the number of times the milestone tables in Article 4 can be run and shall not give rise to additional Win State Payments);

 2.3.2 no such Affiliate shall be entitled to grant, directly or indirectly, to any third party any right of whatever nature under, or with
respect to, or permitting any use or exploitation of, any of the Patent Rights, including any right to develop, manufacture, market or sell Licensed Products; 

2.3.3 prior to any Affiliate exercising or performing any of Licensee’s rights or obligations under this Agreement, such Affiliate shall
agree in writing that it shall not practice the license under the Patent Rights for Human Germline Modification (except to the extent that the Licensee would have the right to do so after notice from Harvard of a permitted application within Human
Germline Modification); and 
 2.3.4 any act or omission taken or made by an Affiliate of Licensee under this Agreement will be deemed an act
or omission by Licensee under this Agreement. 
 2.4 Sublicenses. 

2.4.1 Sublicense Grant. Licensee will be entitled to grant Sublicenses to third parties under the licenses granted pursuant to
Section 2.1 subject to the terms of this Section 2.4; provided, however, that no Sublicense may be granted under the license granted pursuant to Section 2.1.2 except in
connection with a bona fide collaboration with a third party to research or develop one or more Licensed Product(s) under a Sublicense granted under the licenses granted pursuant to Section 2.1.1. Any such Sublicense shall
be on terms and conditions in compliance with and not inconsistent with the terms of this Agreement. The Parties agree that any such Sublicense granted under the license granted pursuant to Section 2.1.2 shall not become
invalid hereunder even if the original Licensed Product(s) that were included in the subject matter of such Sublicense under the licenses granted pursuant to Section 2.1.1 cease to be Licensed Product(s) at a later date or
fail or are discontinued in development and shall instead continue in full force and effect. 

  
 18 

 2.4.2 Sublicense Agreements. Licensee shall grant sublicenses pursuant to written
agreements, which will be subject and subordinate to the terms and conditions of this Agreement. Such Sublicense agreements will contain, among other things, the following: 

2.4.2.1 all provisions necessary to ensure Licensee’s ability to perform its obligations under this Agreement; 

2.4.2.2 a section requiring Sublicensee to indemnify, defend and hold Indemnitees and HHMI Indemnitees harmless, and carry
insurance, under the same terms set forth in Article 9 of this Agreement (which obligation to indemnify, defend, and hold harmless, to avoid doubt, may be limited to the activities under the Sublicense (e.g., the Sublicensee shall not
be required to indemnify for activities arising under other unrelated Sublicenses to unrelated Third Parties)), which also will state that the Indemnitees and HHMI Indemnitees are intended third party beneficiaries of such Sublicense agreement for
the purpose of enforcing such indemnification; 
 2.4.2.3 a statement that Harvard is an intended third party beneficiary of
such Sublicense for the purpose of enforcing all patent challenge, indemnification, and insurance provisions of such Sublicense and enforcing the right to terminate such Sublicense for breach of the patent challenge, indemnification and insurance
provisions of such Sublicense; and a statement that HHMI is an intended third party beneficiary of such Sublicense for the purpose of enforcing HHMI’s rights, including indemnification and insurance provisions, under this Agreement; 

2.4.2.4 a provision stating that in the event Sublicensee directly or indirectly brings, assumes, or participates in, or
knowingly, willfully or recklessly assists in bringing, a Patent Challenge then Licensee shall be entitled to terminate the Sublicense; 

2.4.2.5 a provision clarifying that, in the event of termination of the licenses set forth in
Section 2.1 (in whole or in part (e.g., termination in a particular country)), any existing Sublicense agreement shall terminate to the extent of such terminated license; 

2.4.2.6 a provision prohibiting the Sublicensee from sublicensing its rights under such Sublicense agreement through more than
[**] additional tiers, provided that such further Sublicense also shall comply with the terms of this Section 2.4; 

2.4.2.7 a provision requiring the Sublicensee to notify Licensee of the achievement of each milestone described in
Section 4.3.1 within [**] days after such achievement; 
 2.4.2.8 a provision requiring the
Sublicensee to comply with Section 8.1 (Compliance with Law) and Section 11.4 (Use of Name) of this Agreement; 

2.4.2.9 a provision requiring the Sublicensee to agree that it shall not use the Patent Rights for Human Germline Modification;
and 

  
 19 

 2.4.2.10 a provision prohibiting the Sublicensee from assigning the
Sublicense agreement without the prior written consent of Harvard, except that Sublicensee may assign the Sublicense agreement to a successor in connection with the merger, consolidation or sale, lease or other transfer of all or substantially all
of its assets or that portion of its business to which the Sublicense agreement relates; provided, however, that any permitted assignee agrees in writing to be bound by the terms of such Sublicense agreement. 

2.4.3 Delivery of Sublicense Agreement. Licensee shall furnish Harvard with a fully executed copy of any Sublicense agreement, promptly
after its execution. Harvard shall keep all such copies in its confidential files and shall use them solely for the purpose of monitoring Licensee’s and Sublicensees’ compliance with their obligations hereunder and enforcing Harvard’s
rights under this Agreement. Licensee shall be entitled to redact sensitive information and/or research plans not reasonably required to monitor Licensee’s and Sublicensee’s compliance with their obligations hereunder and enforcing
Harvard’s rights under this Agreement. 
 2.4.4 Breach by Sublicensee. Licensee shall be responsible for any breach of a
Sublicense agreement by any Sublicensee that results in a material breach of this Agreement. Licensee shall either (a) cure such breach in accordance with Section 10.2.2 of this Agreement or (b) enforce its rights
by seeking to terminate such Sublicense agreement in accordance with the terms thereof. It is understood that if Licensee cures such breach or has diligently sought to enforce, and continues to diligently seek to enforce to the extent possible, its
right to terminate such Sublicense agreement, including by, at minimum, taking all required steps to seek to terminate such Sublicense agreement in accordance with the terms thereof and contesting any contrary claim by the Sublicensee, Licensee
shall not be subject to termination of this Agreement for the breach by the Sublicensee even though it resulted in a material breach of this Agreement. 

2.5 [**] Proposed Products. 

2.5.1 If a third party inquires with Harvard for a license under the Base Editor Patent Rights with respect to products for use in the Field or
for a license under the Supporting Technology Patent Rights with respect to Base Editor Products for use in the Field, in each case while this Agreement is in effect, Harvard may refer such third party to Licensee to seek a potential Sublicense.

 2.5.2 Sections 2.5.3 through 2.5.10 shall apply only from and after the [**] anniversary of the Effective Date
(“Start Date”). Prior to Start Date, Harvard shall have no right to invoke such Sections. 
 2.5.3 If after the Start Date a
third party that (a) is not a Competitor and (b) has attempted in good faith but has not entered into a Sublicense with Licensee as of [**] months after the third party first contacted Licensee for such Sublicense after being referred to
Licensee by Harvard, makes a Bona Fide Proposal to Harvard for developing what Harvard reasonably believes is a [**] Proposed Product for the prevention or treatment of a human disease that is Covered by the Base Editor Patent Rights or, to the
extent such [**] Proposed Product is a Base Editor, is Covered by the Supporting Technology Patent Rights, and Harvard is interested in 

  
 20 

 
having such [**] Proposed Product developed and commercialized, Harvard may notify Licensee of the third party’s Bona Fide Proposal and shall include in such notification all information in
Harvard’s possession regarding such Bona Fide Proposal, including a copy thereof; provided, however, that Harvard may redact any confidential information Harvard is not permitted to share with Licensee under the terms of any confidentiality
agreement between Harvard and the third party making such Bona Fide Proposal, after seeking permission to make such disclosure and indicating to the Third Party that either Harvard or the Third Party will have to make such disclosure to Licensee in
order for a Sublicense or a [**] License to be available by the process provided in this Section 2.5, and Harvard shall include with such notification a further notice if Harvard was not permitted to share with Licensee any
such confidential information of such third party. Within [**] days after the receipt of such notification from Harvard, Licensee shall notify Harvard whether it is interested in developing such [**] Proposed Product for the prevention or treatment
of such human disease, is interested in further discussing a Sublicense with the third party, or is interested in Sublicensing a different third party(ies). Harvard shall not entertain Bona Fide Proposals prior to the Start Date, nor from any third
party who has not first engaged in [**] months of good faith discussions with the Licensee, or is a Competitor. 
 2.5.4 If the proposal does
not meet the definition of Bona Fide Proposal, the proposed product is not a [**] Proposed Product, or the third party is a Competitor, then Sections 2.5.5 through 2.5.10 shall not apply (and without limiting the generality of the
foregoing Harvard shall have no right to grant a [**] License to such third party with respect to such [**] Proposed Product nor to require that Licensee grant a Sublicense or provide a development plan and development milestones in relation
thereto). 
 2.5.5 If Licensee notifies Harvard within such [**] day period that Licensee is interested in developing such [**] Proposed
Product for the prevention or treatment of such human disease, the parties will negotiate in good faith and agree, during the [**] days following such notification by Licensee, upon a development plan with respect to such [**] Proposed Product,
which development plan will be similar to the Development Plan with respect to other Licensed Products developed by Licensee, subject to necessary adjustments, and will include reasonable development milestones, including at least one preclinical
development milestone, and associated timelines. In the discussion of such development plan and development milestones, Harvard shall not unreasonably withhold its consent to Licensee’s proposed plan. If the parties agree on such development
plan and milestones within such ninety [**] day period, Licensee shall maintain its exclusive license(s) hereunder with respect to such [**] Proposed Product for the prevention or treatment of such human disease, but shall be obligated (a) to
use commercially reasonable efforts to develop and commercialize the [**] Proposed Product for the prevention or treatment of such human disease in accordance with such new development plan (which shall be incorporated into and be part of the
“Development Plan” for all purposes hereunder) and (b) to meet the development milestones on the timeline associated therewith with respect to the [**] Proposed Product (which shall be a “Development Milestone” for all
purposes hereunder) for the prevention or treatment of such human disease (subject to extension in the same manner as provided in Sections 3.4.1 through 3.4.5, applied mutatis mutandis). Exhibit 3.1.1 shall be amended to
reflect such development milestones and timeline with respect to such [**] Proposed Product. 

  
 21 

 2.5.6 If (a) within such [**] day period, Licensee fails to notify Harvard that
Licensee is interested in developing such [**] Proposed Product for the prevention or treatment of such human disease or notifies Harvard that Licensee is not interested in developing such [**] Proposed Product for the prevention or treatment of
such human disease or (b) the parties do not agree on a development plan and development milestones that are acceptable to Harvard in its reasonable judgment Harvard will be entitled, [**] Licensee beyond that provided in
Section 2.5.10, to (A) [**] the licenses granted under Section 2.1.1 under the [**] with respect to such [**] Proposed Product for the prevention or treatment of such human disease, (B) grant
to [**] an [**] license under such [**] solely to make, have made, offer for sale, sell, have sold and import such [**] Proposed Product for the prevention or treatment of such human disease, and (C) grant to [**] a non-exclusive license under the Patent Rights other than the [**] solely to make, have made, offer for sale, sell, have sold and import such [**] Proposed Product for the prevention or treatment of such human
disease. 
 2.5.7 If Licensee states in its notification to Harvard that it is not interested in developing such [**] Proposed Product for
the prevention or treatment of such human disease but that it wishes to grant a Sublicense to such third party with respect to such [**] Proposed Product for the prevention or treatment of such human disease, Licensee will have [**] months (or [**])
to negotiate and enter into such a Sublicense agreement with [**]; provided, however, that if Licensee demonstrates that it and [**] have entered into a term sheet with respect to such a Sublicense agreement during such [**] months and remain in
active negotiations of a definitive agreement at the end of such [**] months, Licensee will be entitled to [**] for the execution of a [**] by an additional [**] months. In addition, the first of the foregoing [**] month periods shall be tolled for
any delays in the provision of any confidential information that was present in the Bona Fide Proposal provided to Harvard by [**] and Harvard was not permitted to share with Licensee under the terms of any confidentiality agreement between Harvard
and such third party that exceed [**] days after request for such confidential information by Licensee following the execution of a confidentiality agreement between Licensee and [**]; provided, however, that in order to avail itself of such
extension Licensee must notify Harvard of such delay within [**] days of such failure to provide such confidential information within [**] days after such request by Licensee and of the date on which such confidential information was provided to
Licensee by [**] within [**] days after such confidential information was provided. 
 2.5.8 If Licensee does not enter into such a [**]
agreement within such [**] month or [**] month period, as applicable, Licensee shall promptly (but in any event within [**] business days of the end of such period) provide Harvard in writing an explanation for such not entering into such a [**]
agreement along with the proposed terms offered by Licensee to [**]. If Harvard reasonably determines in its good faith judgment that the terms offered by Licensee to [**] were not commercially reasonable, Harvard shall notify Licensee of such
determination and provide Licensee with an additional [**] days to enter into [**]; such notices shall explicitly state what modified terms Harvard would consider commercially reasonable. If Licensee does not enter into an agreement with [**] within
such additional [**] day period, then Harvard will be entitled, [**] to Licensee except as expressly set forth in Section 2.5.10, to (A) [**] with respect to such [**] Proposed Product for the prevention or treatment of
such human disease, (B) grant [**] an [**] license under such [**] solely to make, have made, offer for sale, sell, have 

  
 22 

 
sold and import such [**] Proposed Product for the prevention or treatment of such human disease, and (C) grant to [**] under the Patent Rights other than the [**] to make, have made, offer
for sale, sell, have sold and import such [**] Proposed Product for the prevention or treatment of such human disease. 
 2.5.9 In parallel
with or in lieu of seeking to Sublicense [**] who proposed the [**] Proposed Product, the Licensee may seek to enter into a Sublicense with another third party. If the Licensee enters into such a Sublicense with another third party within [**]
months after Licensee’s notice to Harvard under Section 2.5.3, which may be extended by an additional [**] months if Licensee demonstrates that it and such other third party have entered into a term sheet with respect
to such a Sublicense agreement during such [**] months and remain in active negotiations of a definitive agreement at the end of such [**] months, then Licensee shall have the right to discontinue any discussions under
Section 2.5.7 or 2.5.8 without consequence and as long as the Sublicense with the third party that Licensee entered into remains in effect, Harvard shall have no right to grant a [**] License for the applicable [**]
Proposed Product. 
 2.5.10 A license by Harvard to a third party under Section 2.5.6 or 2.5.8 is a
“[**] License.” [**] License [**] is “[**].” The financial terms of any [**] License [**]. The financial terms of any [**] License shall not be required to have any other elements of financial consideration other
than [**]. Licensee shall be [**]. Licensee may elect to take such [**]. If any [**] License is granted, Harvard shall report on a [**] basis in writing to Licensee as to any and all [**] received by Harvard or its designee, whether zero or a
positive number. Such reports and any related records shall be subject to audit by the Licensee on terms equivalent to those set forth in Section 5.3, applied mutatis mutandis, provided, however, that such audit
shall be limited to an audit of Harvard’s records and shall not extend to any licensee under a [**] License (either directly or by causing Harvard to exercise any audit rights it may have under the [**] License), and such audit shall be limited
in scope to a determination that Harvard’s report of [**] is true and complete. 
 2.6 No Other Grant of Rights. Except as
expressly provided herein, nothing in this Agreement will be construed to confer any ownership interest, license or other rights upon Licensee by implication, estoppel or otherwise as to any technology, intellectual property rights, products or
biological materials of Harvard, or any other entity, regardless of whether such technology, intellectual property rights, products or biological materials are dominant, subordinate or otherwise related to any Patent Rights. 

3. Development and Commercialization. 
 3.1
Diligence. 
 3.1.1 General. Licensee shall use commercially reasonable efforts and shall cause its Sublicensees to use
commercially reasonable efforts: (a) to develop Licensed Products in accordance with the Development Plan; (b) to introduce any Licensed Products that gain Regulatory Approval into the commercial market; (c) to market Licensed
Products that have gained Regulatory Approval following such introduction into the market; and (d) to make 

  
 23 

 
Licensed Products that have gained Regulatory Approval reasonably available to the public. In addition, Licensee, by itself or through its Affiliates or Sublicensees, shall achieve each of the
Development Milestones within the time periods specified in Exhibit 3.1.1, as they may be extended in accordance with this Agreement. 

3.1.2 Developing Countries. At any time beginning [**] after Regulatory Approval of any Licensed Product in the United States or an EU
Major Market Country, Harvard shall have the right to grant third parties the non-exclusive right under the Patent Rights to develop, manufacture, have manufactured, import, have imported, offer for sale,
sell, have sold or otherwise distribute or have distributed such Licensed Product or an equivalent thereof (e.g., a generic product), in each case solely for sale or other distribution of such Licensed Product or equivalent on a
locally-affordable basis in any Developing Country(ies) in which such Licensed Product is not then available on a locally-affordable basis and not in any Developed Country, solely and exclusively for administration to citizens and permanent legal
residents of such Developing Country(ies) in which such Licensed Product is not then available on a locally-affordable basis (such right, a “Developing Country Locally-Affordable Citizen License”). Harvard hereby reserves the non-exclusive right to grant such non-exclusive rights to third parties, solely and exclusively in the circumstances described in this Section 3.1.2.
Notwithstanding the foregoing, at any time beginning [**] after Regulatory Approval of any Licensed Product in the United States or an EU Major Market Country, but in any event no later than [**] prior to granting any Developing Country
Locally-Affordable Citizen License with respect to any Licensed Product, Harvard shall notify Licensee in writing, and if requested by Licensee, Harvard shall meet with Licensee and discuss in good faith Licensee’s (or its Affiliate’s or
Sublicensee’s) plans to seek Regulatory Approval for and subsequently market such Licensed Product in the Developing Countries that were the subject of Harvard’s written notice or any concerns of Licensee related to marketing in such
country. In addition, Harvard shall not grant a Developing Country Locally-Affordable Citizen License without identifying in writing to Licensee the potential licensee and if requested by Licensee meeting with Licensee to discuss, and subsequently
considering in good faith, any concerns of the Licensee with respect to such potential licensee. The terms of any Developing Country Locally-Affordable Citizen License shall require the licensee thereof to sell only on a locally affordable basis,
and shall require that the licensee sell only for administration to citizens and permanent legal residents of the applicable Developing Country. All consideration to Harvard (or its designee) under a Developing Country Locally-Affordable Citizen
License (other than reimbursement for patent expenses paid to third parties at out-of-pocket cost to Harvard) is “Developing Country Consideration.”
Licensee shall be entitled to a share of any and all Developing Country Consideration received by Harvard (or its designee) equal to the total Developing Country Consideration, minus the share that Harvard would have received under this Agreement if
the Developing Country Locally-Affordable Citizen License had been a Sublicense agreement on the same terms entered into between Licensee and the third party. Licensee may [**]. If any Developing Country Locally-Affordable Citizen License is
granted, Harvard shall report on a [**] basis in writing to Licensee as to any and all Developing Country Consideration received by Harvard or its designee, whether zero or a positive number. Such reports and any related records shall be subject to
audit by the Licensee on terms equivalent to those set forth in Section 5.3, applied mutatis mutandis, provided, however, that such audit shall be limited to an audit of

  
 24 

 
Harvard’s records and shall not extend to any licensee under a Developing Country Locally-Affordable Citizen License (either directly or by causing Harvard to exercise any audit rights it
may have under the Developing Country Locally-Affordable Citizen License), and such audit shall be limited in scope to a determination that Harvard’s report of Developing Country Consideration is true and complete. Any Developing Country
Locally-Affordable Citizen License shall be clearly limited to the applicable Developing Country, and Harvard shall take action to terminate the Developing Country Locally-Affordable Citizen License if the licensee sells outside of its licensed
territory. For clarity, notwithstanding anything express or implied in the foregoing, Licensee does not grant Harvard any right under patent rights, know-how, data, or other assets or intellectual property
rights owned or controlled by Licensee with respect to any Licensed Product for Developing Country(ies) or otherwise, and Harvard’s reserved rights above are limited to the Patent Rights. 

3.1.3 Sub-Categories of Base Editor Patent Rights. If within [**] years after the Effective
Date, Licensee has not initiated a discovery program in accordance with the then current Development Plan and Development Milestones for the development of a Licensed Product covered by a Valid Claim for a
Sub-Category of Base Editor Patent Rights (“Failed Sub-Category of Base Editor Patent Rights”), the license to such Failed Sub-Category of Base Editor Patent Rights will terminate, and Harvard shall have the right to grant to third party licensees of such Failed Sub-Category of Base Editor Patent
Rights, a non-exclusive license under the Patent Rights other than such Failed Sub-Category of Base Editor Patent Rights solely to make, have made, offer for sale, sell,
have sold and import products Covered by such Failed Sub-Category of Base Editor Patent Rights in the Field, which non-exclusive license shall not extend to components
of such product that are a different category of Base Editor than the category of Base Editor that is the subject matter of such Failed Sub-Category of Base Editor Patent Rights. As a non-limiting example of the foregoing exclusion, [**]. 
 The foregoing paragraph may apply to multiple Sub-Categories of Base Editor Patent Rights, if there are multiple Failed Sub-Categories of Base Editor Patent Rights. 

3.2 Adjustments of Development Plan. 

3.2.1 Within [**] months after the Effective Date, Licensee shall submit to Harvard a written plan for the development and commercialization of
Licensed Products, which shall be attached hereto as Exhibit 3.2.1. Such plan shall be designed to meet the Development Milestones attached in Exhibit 3.1.1, on the timeline provided in Exhibit 3.1.1. Harvard shall have the
right to approve Licensee’s submitted Development Plan, such approval not to be unreasonably withheld, delayed, or conditioned. Harvard shall be reasonably available to meet and discuss with Licensee as Licensee is preparing the Development
Plan, to help ensure consensus as to the Development Plan that Licensee will submit. 
 3.2.2 Within [**] years after the Effective Date,
Licensee shall update its Development Plan and Development Milestones to include the elements required by the Subcategory Product Milestones. Harvard shall have the right to approve Licensee’s submitted, updated Development Plan, such approval
not to be unreasonably withheld, delayed, or conditioned. Harvard shall be reasonably available to meet and discuss with Licensee as Licensee is preparing the updated Development Plan, to help ensure consensus as to the Development Plan that
Licensee will submit. 

  
 25 

 3.2.3 Licensee will be entitled, from time to time, to make such adjustments to the then
applicable Development Plan as Licensee believes, in its good faith judgment, are needed in order to improve Licensee’s ability to meet the Development Milestones. 

3.3 Reporting. Within [**] days after the end of each calendar year, Licensee shall furnish Harvard with a written report summarizing
its, its Affiliates’ and its Sublicensees’ efforts during the prior year to develop and commercialize Licensed Products, including: (a) research and development activities; (b) commercialization and/or other distribution efforts;
and (c) marketing efforts. Each report must contain a sufficient level of detail for Harvard to assess whether Licensee is in compliance with its obligations under Section 3.1 and a discussion of intended efforts for
the then current year. Together with each report, Licensee shall provide Harvard with a copy of the then current Development Plan. 
 3.4
Failure to Meet Development Milestone: Opportunity to Cure. 
 3.4.1 Notice/Explanation/Plan. If Licensee believes that it will
not achieve a Development Milestone by the then-applicable deadline (i.e., the original timeline therefor in Exhibit 3.1.1, or any extension thereto in accordance with this Agreement) (“Milestone Deadline”) or that such
then-applicable Milestone Deadline needs to be or should be extended, it may notify Harvard in writing in advance of the relevant deadline, explicitly referencing this Section 3.4.1. Licensee shall include with such notice
(a) a reasonable explanation of the reasons for such failure or need for extension (and lack of finances will not constitute reasonable basis for such failure or need for extension) (“Explanation”) and (b) a reasonable,
detailed, written plan for promptly achieving a reasonable extended and/or amended milestone (“Plan”). 
 3.4.2 Missing
Plan or Explanation. If Licensee so notifies Harvard, but fails to provide Harvard with both an Explanation and Plan, then Licensee will have an additional [**] days or until the original deadline of the relevant Development Milestone, whichever
is later, to meet such milestone. [**]. 
 3.4.3 Sufficient Notice/Explanation/Plan. If Licensee notifies Harvard as provided in
Section 3.4.1 and provides Harvard with an Explanation and Plan, both of which are acceptable to Harvard in its reasonable discretion, then Exhibit 3.1.1 will be amended automatically to incorporate the extended
and/or amended milestone set forth in the Plan. 
 3.4.4 Explanation Discussions. If Licensee so notifies Harvard and provides Harvard
with an Explanation and Plan, but the Explanation is not acceptable to Harvard in its reasonable discretion (e.g., Licensee asserts lack of finances or development preference for a non-Licensed
Product), then Licensee will have an additional [**] days or until the original deadline of the relevant Development Milestone, whichever is later, to meet such milestone. [**]. 

  
 26 

 3.4.5 Plan Discussions. If Licensee so notifies Harvard and provides Harvard with an
Explanation and Plan, but the Plan is not acceptable to Harvard in its reasonable discretion, then Harvard will explain in writing to Licensee why the Plan is not acceptable and provide Licensee with written suggestions for an acceptable Plan.
Licensee will have one opportunity to provide Harvard with an acceptable Plan within [**] days, during which time Harvard agrees to work with Licensee in good faith in Licensee’s effort to develop a reasonably acceptable Plan. If, within such
[**] days, Licensee provides Harvard with an acceptable Plan, then Exhibit 3.1.1 will be amended automatically to incorporate the extended and/or amended milestone set forth in the Plan. If, within such [**] days, Licensee fails to provide an
acceptable Plan, then Licensee will have an additional [**] days or until the original deadline of the relevant Development Milestone, whichever is later, to meet such milestone. 

3.4.6 Unmet Deadline. Licensee’s failure to meet the then-current Milestone Deadline for any Development Milestone (taking into
account any extension or modification thereof as a result of the applicable procedures set forth in Sections 3.4.1 through 3.4.5) [**]: 

3.4.6.1 If such failure is a failure to meet the first Development Milestone (“Initiate a discovery program ...”)
with respect to [**] Licensed Products within the timeframe set forth on Exhibit 3.1.1 [**]. 
 3.4.6.2 If such
failure relates to (a) a Licensed Product that was a [**] Proposed Product for which Licensee exercised its rights under Section 2.5.5, (b) a Licensed Product that was a Retained Product for which Licensee retained the
licenses under Section 2.1.1 in accordance with the terms of Section 3.4.6.3 or (c) a Licensed Product that was a Restored Product for which Licensee was granted the licenses under
Section 2.1.1 in accordance with the terms of Section 3.4.7.3. Harvard will be entitled, without any compensation or accounting to Licensee, to terminate forthwith, immediately upon written notice to Licensee, the
licenses granted under Section 2.1.1 with respect to such Licensed Product. Upon such termination, Harvard shall be entitled to grant to any third party(ies) an exclusive or
non-exclusive license(s) under the Patent Rights to make, have made, offer for sale, sell, have sold and import such Licensed Product for use within the Field or outside the Field. 

3.4.6.3 If such failure is not a failure provided for under Section 3.4.6.1 or
Section 3.4.6.2, Harvard shall be entitled, without any compensation or accounting to Licensee, to terminate forthwith, immediately upon written notice to Licensee, the licenses granted under
Section 2.1.1 with respect to all Licensed Products for which Licensee has not achieved Initiation of GLP Toxicology prior to the date of such notice (other than any such Licensed Products that are Related Products to a
Licensed Product for which Licensee has achieved Initiation of GLP Toxicology prior to the date of such notice). Promptly after receipt of such notice (and in any event within [**] days thereof), Licensee shall deliver to Harvard a true, correct and
complete list of all Licensed Products for which Licensee has achieved Initiation of GLP Toxicology prior to 

  
 27 

 
the date of such notice (the “Retained Product List”) and sufficient information for Harvard to identify Related Products (i.e., [**], splicing variant or mutation, intended
patient population and intended clinical outcome) to such Licensed Products. For each such Licensed Product (each, a “Retained Product”), Licensee shall follow the following procedure: 

For each Retained Product, the parties will negotiate in good faith and agree, during the [**] days following the date Licensee provided the
Retained Product List to Harvard, upon a development plan with respect to such Retained Product, which development plan will be similar to the Development Plan with respect to other Licensed Products that were being developed by Licensee, subject to
necessary adjustments, and will include reasonable development milestones, including at least [**] preclinical development milestone if such Retained Product is a preclinical product, and associated timelines. In the discussion of such development
plan and development milestones, Harvard shall not unreasonably withhold its consent to Licensee’s proposed plan. If the parties agree in writing on such development plan and development milestones within such [**] day period, Harvard shall
grant to Licensee, and shall be deemed to have granted to Licensee, the licenses under Section 2.1.1 to make, have made, offer for sale, sell, have sold and import such Retained Product and Related Products to such Retained
Product for use within the Field, but Licensee shall be obligated (a) to use commercially reasonable efforts to develop and commercialize the Retained Product for the prevention or treatment of such human disease in accordance with such new
development plan (which shall be incorporated into and be part of the “Development Plan” for all purposes hereunder) and (b) to meet the development milestones on the timeline associated therewith with respect to the Retained Product
(which shall be a “Development Milestone” (which shall not be subject to extension in the manner provided in Sections 3.4.1 through 3.4.5, but shall only be subject to extension in Harvard’s sole discretion). Exhibit
3.1.1 shall be amended to reflect such development milestones and timeline with respect to such Retained Product. If the parties do not agree in writing on such development plan and milestones for such Retained Product within such [**] day
period, the licenses under Section 2.1.1 to make, have made, offer for sale, sell, have sold and import such Retained Product and Related Products to such Retained Product shall be deemed terminated as of 11:59 p.m. Eastern
Time on the last day of such period. 
 Notwithstanding anything in this Agreement to the contrary, the procedure set forth in Sections
3.4.1 through 3.4.5 shall not be applicable to extend the Development Milestones for a Licensed Product that was a Retained Product (although the Development Plan may still be updated with respect thereto without modifying the Development
Milestones, and the Development Milestones may still be modified with Harvard’s consent in its sole discretion). 

  
 28 

 Notwithstanding anything in this Section 3.4.6 to the contrary,
for any Retained Product for which a Retained Product or a Related Product to such Retained Product already had a Development Plan and Development Milestones in place, and such Retained Product or a Related Product to such Retained Product that
already had a Development Plan and Development Milestones in place has not missed such Development Milestones, such Development Plan and Development Milestones shall remain in place, with no requirement to negotiate a new Development Plan and new
Development Milestones with respect thereto for such Retained Product or a Related Products to such Retained Product. 
 3.4.7 If Harvard has
terminated the licenses granted under Section 2.1.1 in accordance with the terms of Section 3.4.6.3 and during the Term, Licensee wishes to obtain the licenses under
Section 2.1.1 with respect to a product for which Licensee does not have a license under Section 2.1.1 and that was, prior to such termination, within the definition of Licensed Product (each, a
“Restored Product” and such licenses, “Restored Licenses”), Licensee shall notify Harvard, and Harvard and Licensee shall follow the procedures below: 

3.4.7.1 Licensee shall make a proposal to Harvard equivalent in all material respects to a Bona Fide Proposal to Harvard for
developing such Restored Product for the prevention or treatment of a human disease, including with such proposal a statement of the extent such Restored Product is Covered by the Base Editor Patent Rights or the Supporting Technology Patent Rights
and sufficient information for Harvard to identify Related Products (i.e., [**], splicing variant or mutation, indicated patient population and clinical outcome) to such Restored Product. If Harvard is interested in having such Restored Product
developed and commercialized, Harvard has not granted to any third party (such third parties including for purposes of this Section 3.4.7.1 Affiliates of Licensee) any rights or licenses that would be breached by the grant
of the Restored Licenses and the grant by Harvard of the Restored Licenses would not otherwise be in conflict with any contract, agreement, arrangement or understanding between Harvard and a third party, Harvard shall notify Licensee. 

3.4.7.2 If the proposal does not meet the definition of Bona Fide Proposal (as applied to the Restored Product and not a [**]
Proposed Product), then Section 3.4.7.3 shall not apply. 
 3.4.7.3 If Licensee notifies Harvard
within [**] days after Harvard has notified Licensee pursuant to the last sentence of Section 3.4.7.1, the parties will negotiate, during the [**] days following such notification by Licensee, a development plan with
respect to such Restored Product, which development plan will be similar to the Development Plan with respect to other Licensed Products developed by Licensee, subject to necessary adjustments, and will include reasonable development milestones,
including at least one preclinical development milestone if such Restored Product is a preclinical product, and associated timelines. [**]. If the parties agree in writing on such development plan and milestones within such [**] day period, Harvard
shall grant to Licensee, and shall be deemed to have granted to Licensee, the licenses under Section 2.1.1 to make, have made, offer for sale, sell, have sold and import such Restored Product

  
 29 

 
and Related Products to such Restored Product for use within the Field, but Licensee shall be obligated (a) to use commercially reasonable efforts to develop and commercialize the Restored
Product in the Field in accordance with such new development plan (which shall be incorporated into and be part of the “Development Plan” for all purposes hereunder) and (b) to meet the development milestones on the timeline
associated therewith with respect to the Restored Product (which shall be a “Development Milestone” (for all purposes hereunder) (subject to extension in the same manner as provided in Sections 3.4.1 through 3.4.5, applied
mutatis mutandis). Exhibit 3.1.1 shall be amended to reflect such development milestones and timeline with respect to such Restored Product. [**]. 

3.4.7.4 For clarity, the provisions of this Section 3.4.7 shall not apply to any product with respect
to which Harvard exercised its rights under Section 3.4.6.2 to terminate the licenses under Section 2.1.1. 

3.5 Certain Editors. “RNA Milestone” means the Development Milestone identified under the heading “RNA Editor
Product” in Exhibit 3.1.1. [**]. If Licensee has not achieved the RNA Milestone by the then-applicable deadline (i.e., the original timeline therefor in Exhibit 3.1.1 or any extension thereto granted by Harvard in its sole
discretion), Licensee shall notify Harvard promptly and will have an additional [**] days to achieve such milestone. If Licensee does not achieve the RNA Milestone within such [**] days, then Harvard may by written notice to Licensee exclude RNA
Editors and RNA Products from the Licensed Products and the licenses granted herein. Notwithstanding anything express or implied, not meeting the then-applicable deadline for the RNA Milestone shall in any event not be deemed a breach of this
Agreement and shall not give rise to a right for Harvard to terminate this Agreement. 
 3.6 Xeno-Transplantation.
“Xeno-Transplantation Milestone” means the Development Milestone Identified under the heading “Xeno-Transplantation” in Exhibit 3.1.1. [**]. If Licensee has not achieved the Xeno-Transplantation Milestone by the
then-applicable deadline (i.e., the original timeline therefor in Exhibit 3.1.1 or any extension thereto granted by Harvard in its sole discretion), Licensee shall notify Harvard promptly and will have an additional [**] days to achieve such
milestone. If Licensee does not achieve the Xeno-Transplantation Milestone within such [**] days, then Harvard may by written notice exclude Xeno-Transplantation from the Field and the licenses granted herein. Notwithstanding anything express or
implied, not meeting the then-applicable deadline for the Xeno-Transplantation Milestone shall in any event not be deemed a breach of this Agreement and shall not give rise to a right for Harvard to terminate this Agreement. 

3.7 Activities of Others. Licensee may satisfy its obligations under Sections 3.1 through 3.6 by the actions of itself,
its Affiliates, or its Sublicensees, or by the actions of any combination of the foregoing. 

  
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 4. Consideration for Grant of License. 

4.1 Equity. 
 4.1.1
Initial Issuance. In accordance with the terms of the Subscription Agreement, Licensee shall, on the Effective Date and concurrent with the execution of this Agreement, as partial consideration for the licenses granted hereunder, issue to
Harvard 454,545 shares of Licensee’s common stock, representing [**] percent ([**]%) of Licensee’s outstanding capital stock on a Lully-Diluted Basis as of the date of such issuance and after giving effect to such issuance (the
“Shares”). Harvard hereby agrees that, as a condition to and effective as of the issuance of the Shares, Harvard will execute a joinder to that certain Right of first Refusal and Co-Sale
Agreement, by and among the Licensee and the stockholders set forth therein, dated on or about the date hereof, and that certain Voting Agreement, by and among the Licensee and the stockholders set forth therein, dated on or about the date hereof,
as a common stockholder of Licensee. 
 4.1.2 Anti-Dilution Issuances. If, at any time, prior to the achievement of the Financing
Threshold, Licensee issues Additional Securities that would cause the Shares to represent less than [**] of Licensee’s outstanding capital stock on a Fully-Diluted Basis (excluding Exempted Issuances), Licensee shall immediately issue to
Harvard, for no additional consideration, such additional number of shares of common stock of Licensee (the “Anti-Dilution Shares”) such that the Shares plus the Anti-Dilution Shares (including any Anti-Dilution Shares previously
issued to Harvard pursuant to this Section 4.1.2, and any Shares or Anti-Dilution Shares transferred by Harvard to a third party or held by an Affiliate of Harvard) would then represent in the aggregate [**] of
Licensee’s outstanding capital stock on a Fully-Diluted Basis (excluding Exempted Issuances), as calculated after giving effect to the anti-dilutive issuance up to the Financing Threshold, but not any issuances in consideration for investment
amounts in excess of the Financing Threshold; provided however, that to the extent such Additional Securities are issued pursuant to an equity incentive plan, Licensee shall issue the Anti-Dilution Shares upon the earlier of (a) the end of
Licensee’s fiscal year in which the issuances took place and (b) the closing of the next preferred stock financing, in each case, calculated as of the date contemplated by (a) or (b), as applicable. Licensee shall provide Harvard with
evidence of the issuance of such Anti-Dilution Shares promptly after their issuance. Such issuances shall continue only up to, and until such time as Licensee has achieved, the Financing Threshold. Thereafter, no additional shares shall be due to
Harvard pursuant to this Section 4.1.2. The Anti-Dilution Shares will be subject to the same restrictions as the Shares in accordance with the terms of the Subscription Agreement. 

4.1.3 Preemptive Rights. Harvard shall have, pursuant to the Subscription Agreement, the right to purchase from Licensee in offerings of
equity securities by Licensee (excluding (a) Exempted Issuances, (b) shares of common stock issued or issuable, and options, warrants or other rights to purchase Common Stock issued or issuable to Licensee’s employees, consultants,
officers, directors, or advisors as part of an incentive compensation arrangement or to Licensee’s former employees, consultants, officers, directors, or advisors as part of a settlement of any dispute regarding incentive compensation
arrangements and (c) shares of Common Stock issued or issuable to banks, equipment lessors, real property lessors, financial institutions or other persons engaged in the business of making loans pursuant to a debt financing, commercial leasing
or real property leasing transaction; shares of Common Stock issued or issuable in connection with any settlement of any action, suit, proceeding or litigation) 

  
 31 

 
after the Financing Threshold has been achieved that portion of such equity securities as equals the proportion that the common stock then held by Harvard (including all shares of common stock
then issuable upon conversion and/or exercise, as applicable, of preferred stock and any other equity securities then held by Harvard) bears to the total common stock of Licensee then outstanding on a Fully-Diluted Basis. The foregoing right shall
be subject to the terms, conditions and exceptions as are contained in the Subscription Agreement, which terms, conditions and exceptions shall be no less favorable to Harvard than the terms, conditions and exceptions offered to the holders of
preferred stock holding similar rights, unless otherwise provided in this Section 4.1.3. The Subscription Agreement shall provide that during the period prior to any Change of Control of Licensee or any Initial Public
Offering, Harvard may not sell or otherwise transfer the shares acquired by Harvard upon exercise of the foregoing right without the consent of Licensee to any third party other than Osage or a holder of the preferred stock of Licensee. The
Subscription Agreement shall provide that during the period prior to any Change of Control of Licensee or any Initial Public Offering, Harvard may sell or otherwise transfer the shares acquired by Harvard upon exercise of the foregoing right without
the consent of Licensee to any third party other than Osage or a holder of the preferred stock of Licensee; provided, in each such case, that Harvard notifies Licensee in writing, and the transferee agrees and consents to be bound in writing by the
transaction agreements pursuant to which such securities were originally acquired. The Subscription Agreement shall provide that Harvard may not assign the foregoing right without the consent of Licensee to any third party other than Osage or a
holder of the preferred stock of Licensee. The Subscription Agreement shall provide that Harvard may assign the foregoing right without the consent of Licensee to any third party other than Osage or a holder of the preferred stock of Licensee;
provided, that, in each such case, Harvard notifies Licensee in writing in connection with the transfer of such rights. With regard to assignment of the foregoing right to Osage or a holder of the preferred stock of Licensee, the Subscription
Agreement shall provide that Harvard may assign the foregoing right in whole or in part and in any one or more instances. 
 4.1.4
Representations and Warranties. Licensee represents and warrants to Harvard that, upon issuance of the Shares, and upon issuance of any Anti-Dilution Shares: 

4.1.4.1 the capitalization table as provided by Licensee (the “Cap Table”) upon issuance of the Shares or the
Anti-Dilution Shares, as the case may be, sets forth all of the capital stock of Licensee on a Fully-Diluted Basis as of the date of issuance of the Shares or the Anti-Dilution Shares, on a pro forma basis as of immediately subsequent to the
issuance of the Shares or the Anti-Dilution Shares, as applicable; 
 4.1.4.2 other than as set forth in the Cap Table, as of
the date of issuance of the Shares or Anti-Dilution Shares, as applicable, there are no outstanding shares of capital stock, convertible securities, outstanding warrants, options or other rights to subscribe for, purchase or acquire from Licensee
any capital stock of Licensee and there are no contracts or binding commitments providing for the issuance of, or the granting of rights to acquire, any capital stock of Licensee or under which Licensee is, or may become, obligated to issue any of
its securities; and 

  
 32 

 4.1.4.3 the Shares or the Anti-Dilution Shares, as the case may be, when
issued pursuant to the terms hereof, shall, upon such issuance, be duly authorized, validly issued, fully paid and nonassessable. 
 4.1.5
Information. Upon request, but no more frequently than [**], Licensee will deliver to Harvard a statement of the outstanding capital stock of Licensee on a Fully Diluted Basis in sufficient detail as to permit Harvard to calculate its
percentage equity ownership in Licensee. 
 4.2 Annual License Maintenance Fees. Licensee shall pay Harvard annual license maintenance
fees (“Maintenance Fees”) as follows: 
  

			
	 Calendar Year(s)
	  	Maintenance Fee (U.S. Dollars)
	 2018
	  	[**]
	 2019
	  	[**]
	 2020 and each subsequent Calendar Year during the Term
	  	[**]

 Each such Maintenance Fee shall be due and payable on [**] of the calendar year to which such fee applies. 

4.3 Milestone Payments. 

4.3.1 Product Milestone Payments. Licensee shall pay Harvard the following milestone payments with respect to each of the first [**]
Licensed Products to reach each milestone, regardless of whether such milestone is achieved by Licensee or any Affiliate or Sublicensee of Licensee, and subject to Section 4.3.4: 

 

			
	 Milestone Event
	  	Milestone Payment (U.S. Dollars)
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]

  
 33 

 Upon the consummation (i.e., closing) of a Change of Control of Licensee at any time during the Term, the
dollar amounts set forth in the table above under “Milestone Payments (U.S. Dollars)” shall be deleted and the milestone payments set forth in the table below shall be substituted for the corresponding milestone payments for occurrences of
a milestone event after the consummation of Change of Control. This shall not change the number of times that each of the milestone payments may become due — each milestone payment can become due hereunder a maximum of [**] times only, whether
at the lower level of the table above or at the higher level of the table below as applicable at the time of milestone achievement. In addition, it is understood that the increased milestone amounts shall only apply on a going-forward basis from the
time of a Change of Control; no increase to the amounts of the milestone payments due for milestone events achieved prior to the Change of Control shall be due. 
  

			
	 Milestone Event
	  	Milestone Payment (U.S. Dollars)
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]

  
 34 

 4.3.2 Financing Milestone Payments. 

4.3.2.1 Series A Financing. Licensee shall pay to Harvard, in accordance with Section 4.3.3,
upon achievement by Licensee (together with its Affiliates for purposes of this Section 4.3.2.1, including the calculation of sales by Licensee of shares of Series A Preferred Stock) of each of the financing milestone
events set forth below the applicable milestone payment set forth opposite such milestone event set forth below: 
  

			
	 Milestone Event
	  	 Milestone Payment (U.S. Dollars)

	Closing of sale by Licensee, in a single transaction or series of transactions since inception, of shares of Series A Preferred Stock yielding aggregate gross proceeds to Licensee of at least five million dollars ($5,000,000)	  	Five Hundred Thousand Dollars ($500,000)
	Closing of sale by Licensee, in a single transaction or series of transactions since inception, of shares of Series A Preferred Stock yielding aggregate gross proceeds to Licensee of at least twenty-five million dollars
($25,000,000)	  	Seven Hundred Fifty Thousand Dollars ($750,000)
	Closing of sale by Licensee, in a single transaction or series of transactions since inception, of shares of Series A Preferred Stock yielding aggregate gross proceeds to Licensee of at least $50 million	  	One Million Seven Hundred Fifty Thousand Dollars ($1,750,000)

 Each milestone payment set forth in table above in this Section 4.3.2.1 shall be
payable only once. 
 If Licensee sells any equity security other than Series A Preferred Stock (excluding common stock sold to employees or
consultants as part of an incentive compensation arrangement) as part of a financing transaction of Licensee prior to the sale of $50 million in Series A Preferred, the aggregate gross proceeds from such financing transaction shall be applied
towards the achievement of a milestone event set forth in the table above in this Section 4.3.2.1 as if the cash proceeds were for the purchase of Series A Preferred Stock, and if any milestone event is deemed achieved as a
result, then the corresponding milestone payment set forth in the table above in this Section 4.3.2.1 shall be paid to Harvard in accordance with Section 4.3.3. 

If prior to the payment by Licensee of an aggregate of $3 million to Harvard pursuant to this Section 4.3.2.1, a
milestone payment becomes due under this Agreement for achievement by Licensee or any Affiliate or Sublicensee of Licensee of the milestone event described in the table above in Section 4.3.1 as [**] becomes due under this
Agreement, any milestone payment set forth in the table above in this Section 4.3.2.1 remaining unpaid shall be paid on the date such milestone payment or [**], as the case may be, is due. 

In no event shall Licensee be required to pay more than $3 million to Harvard pursuant to this Section 4.3.2.1.

  
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 4.3.2.2 Series B Financing. Upon each closing of the sale by Licensee
(together with its Affiliates for purposes of this Section 4.3.2.2, including the calculation of sales by Licensee of shares of Series B Preferred Stock) of shares of Series B Preferred Stock, Licensee shall pay Harvard a
milestone payment in an amount equal to $6 million multiplied by the product of the Valuation Factor multiplied by the Proceeds Factor, until such time as the aggregate payments under this Section 4.3.2.2 total
$6 million. 
 If prior to the payment by Licensee of an aggregate of $6 million to Harvard pursuant to this
Section 4.3.2.2, a milestone payment becomes due under this Agreement for achievement by Licensee or any Affiliate or Sublicensee of Licensee of the milestone event described in the table above in
Section 4.3.1 as “FSFD in Phase 3 Clinical Study” or a Win-State Payment becomes due under this Agreement, the unpaid balance of such $6 million shall be paid to
Harvard on the date such milestone payment or Win-State Payment, as the case may be, is due. 
 In no
event shall Licensee be required to pay more than $6 million to Harvard pursuant to this Section 4.3.2.2. 

4.3.3 Licensee shall notify Harvard in writing within [**] days following the achievement of each milestone described in
Section 4.3.1 or 4.3.2, and shall make the appropriate milestone payment within [**] days after the achievement of such milestone. 

4.3.4 The milestone payments set forth in Section 4.3.1 shall not be payable: 

(a) with respect to a subsequent achievement of the same milestone event by a Licensed Product that is a replacement for another Licensed
Product the development of which has been discontinued after achievement of such same milestone event; 
 (b) with respect to a subsequent
achievement of the same milestone event by any back-up Licensed Product that is a Related Product to a first Licensed Product that has already achieved such same milestone event; and 

(c) with respect to a subsequent achievement of the same milestone event by a Licensed Product that differs from a first Licensed Product that
has achieved such same milestone event only by virtue of such subsequent Licensed Product’s being a different dosage strength or formulation of or using a different delivery system than such first Licensed Product. 

4.3.5 The milestones set forth in Section 4.3.1 are intended to be successive. If a Licensed Product is not required
to undergo the event associated with a particular milestone for a given Licensed Product (“Skipped Milestone”), such Skipped Milestone will be deemed to have been achieved upon the achievement by such Licensed Product of the next
successive milestone (“Achieved Milestone”). Payment for any Skipped Milestone that is owed in accordance with the provisions of Section 4.3.1 shall be due within [**] days after the Licensee learned of the
achievement of the Achieved Milestone. For clarity, Regulatory Approval in a 

  
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jurisdiction shall not trigger payment of another Regulatory Approval milestone not yet achieved (for example, First Regulatory Approval in the EU shall not trigger a payment obligation for First
Regulatory Approval in the United States as a Skipped Milestone and vice versa, and First Regulatory Approval in Japan shall not trigger a payment obligation for First Regulatory Approval in the United States or Europe, nor vice
versa). 
 4.4 Royalty on Net Sales. 

4.4.1 Rate. Licensee shall pay Harvard an amount equal to [**] percent ([**]%) of Net Sales of Licensed Products, calculated in
accordance with and subject to the remainder of this Section 4.4. 
 4.4.2 Royalty Term. On a country-by-country basis, in each country in which a Licensed Product is Covered by a Valid Claim, royalties shall be paid on the sum of Net Sales of such Licensed Product
until the latest of: (a) the expiration date of the last to expire Valid Claim within the Patent Rights Covering the applicable Licensed Product (or if the last Covering Valid Claim with respect to such Licensed Product in such country is a
pending Valid Claim, the date such pending Valid Claim ceases to be a Valid Claim; provided, however, that subsequent issuance of such Valid Claim shall again extend the Royalty Term from the date of such issuance to the expiration date of such
Valid Claim); (b) the period of regulatory exclusivity associated with such Licensed Product in such country; or (c) [**] years after the First Commercial Sale of such Licensed Product in such country but only for so long as such Licensed Product is
sold (the “Royalty Term”). During time periods when the Royalty Term is only in effect in a given country for a given Licensed Product due to clause (c) of the foregoing sentence, then the royalty rate provided for such
Licensed Product in such country shall be reduced by [**] percent ([**]%) from that set forth in Section 4.4.1 above for such portions of the Royalty Term for such Licensed Product in such country. 

4.4.3 Third Party Royalty Set-Off. If Licensee obtains a license from a third party after
arm’s length negotiations to patent application(s) and/or patent(s) that Licensee believes in good faith Cover a Licensed Product, then Licensee may offset [**] percent ([**]%) of any royalty payments due under such third-party license with
respect to such patent application(s) and/or patent(s) with respect to sales of Licensed Products against the royalty payments that are due to Harvard with respect to Net Sales of such Licensed Products in such country; provided that in no event
shall (a) the royalty payments to Harvard with respect to such Licensed Products be reduced by more than [**] percent ([**]%) of the amount otherwise due, (b) with respect to royalties paid to the third party solely on the basis of claims
of pending patent applications of the third party (and no issued patent claim of the third party covers the applicable Licensed Product), such amounts shall only be offsettable in accordance with the foregoing in this
Section 4.4.3 if the Covering pending claim of the third party’s pending application would meet the definition of Valid Claim set forth in this Agreement were such pending claim within the Patent Rights as of the
Effective Date, and (c) the royalty offset provided in this Section 4.4.3 may be applied to any combination product for which an adjustment to Net Sales has been made in accordance with
Section 4.4.5, but to avoid doubt only as relates to royalties on patent applications and patents that would apply in the absence of the Other Active Components (third party patent royalties due solely because of the
presence of the Other Active Components shall not be offsettable against adjusted Net Sales of a Combination Product). 

  
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 4.4.4 Loss of Market Exclusivity. If a Loss of Market Exclusivity exists in a country
with respect to a Licensed Product, then the royalty rate for such Product in such country shall be reduced by [**] percent ([**]%) of the applicable rate determined pursuant to Section 4.4.1 and 4.4.2, provided that
in no event shall the effective royalty rate applied to Net Sales of such Licensed Product in such country be reduced as a result of the application of the terms of this Section 4.4.4 and
Section 4.4.3 to less than fifty percent ([**]%) of the applicable rate determined pursuant to Section 4.4.1 and 4.4.2. Once Loss of Market Exclusivity exists with respect to a Licensed
Product in a country, it will be deemed to continue to exist thereafter with respect to such Licensed Product in such country unless Harvard requests in writing that Loss of Market Exclusivity with respect to a Licensed Product in a country be re-evaluated (which request may not be made more frequently than [**] in a Calendar Year), in which case the existence of such Loss of Market Exclusivity, and any corresponding reduction pursuant to this
Section 4.4.4, shall depend on whether the criteria set forth in the definition of Loss of Market Exclusivity are still met with respect to such Licensed Product in such country. If it is determined that the Loss of Market
Exclusivity no longer exists, the termination of the [**] percent ([**]%) reduction in royalty rate due to the absence of Loss of Market Exclusivity shall be effective only on a going-forward basis from the date of such Harvard request, and there
shall be no recovery of monies or retroactive increase in rates for time periods prior thereto. 
 4.4.5 Combination Products. If a
Licensed Product is sold as part of a combination product with other active pharmaceutical ingredient(s) (or active biologic(s)) that are not Licensed Products and perform a function distinct from the Licensed Product component of the combination
(“Other Active Component(s)”), then Net Sales of the combination product shall be adjusted prior to calculation of the royalty to Harvard hereunder, by multiplying total Net Sales of the combination product by the fraction, A/A+B,
where A is the [**] and B is the [**], in each case during the applicable royalty reporting period or, if sales of both the Licensed Product and the Other Active Component(s) did not occur in such period, then in the most recent royalty reporting
period in which sales of both occurred. In the event that such average sale price cannot be determined for both the Licensed Product and Other Active Component(s) included in such combination product, the Parties shall determine any adjustment to
Net Sales of the Licensed Product by virtue of its being sold as part of a combination product with Other Active Components in such country by mutual agreement based on the relative contribution of value of the Licensed Product and the Other Active
Component(s) in the combination product. If the Parties do not reach written agreement as to such allocation within [**] days, then the matter shall be decided by arbitration in accordance with Exhibit 4.4.5. To avoid doubt, the royalty
offset provided in Section 4.4.3 does not allow for the offset of royalties on third party patent applications and patents that are necessary only for the Other Active Component(s), and would not apply to the Licensed
Product component as a single agent. 

  
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 4.5 Patent Challenge. 

4.5.1 If Licensee, its Affiliate or a Sublicensee (“Challenging Party”) takes any action that constitutes a Patent Challenge,
then (a) in the case of the Licensee or its Affiliate as the Challenging Party, the fees, milestones, royalties and other amounts payable to Harvard under Sections 4.2, 4.3, and 4.4 will be [**] with respect to any payments
that become due and Net Sales of Licensed Products that are sold during the pendency of such Patent Challenge, (b) in the case of a Sublicensee as the Challenging Party, if (i) Licensee (A) diligently sought to enforce and continues to
diligently seek to enforce to the extent possible (unless reputable intellectual property counsel to Licensee advises Licensee that such enforcement or seeking to enforce is contrary to applicable law or is unenforceable against such Sublicensee),
its right to terminate the Sublicense agreements with such Sublicensee, including by, at minimum, taking all required steps to seek to terminate such Sublicense agreements in accordance with the terms thereof and contesting any contrary claim by the
Sublicensee or (B) does not take such enforcement action upon the advice of reputable intellectual property counsel to Licensee that such enforcement or seeking to enforce is contrary to applicable law or is unenforceable against such
Sublicensee, then in each case under clause (A) and (B) the milestone payments under Section 4.3 with respect to Licensed Products achieved by such Sublicensee that become due during the pendency of such Patent
Challenge will be [**] and royalties payable to Harvard under Section 4.4 with respect to Net Sales by such Sublicensee of Licensed Products that are sold during the pendency of such Patent Challenge will be [**], and if
(ii) Licensee did not diligently seek to enforce and does not continue to diligently seek to enforce to the extent possible (unless such inaction is upon the advice of reputable intellectual property counsel to Licensee that such enforcement or
seeking to enforce is contrary to applicable law or is unenforceable against such Sublicensee), its right to terminate the Sublicense agreements with such Sublicensee, including by, at minimum, taking all required steps to seek to terminate such
Sublicense agreements in accordance with the terms thereof and contesting any contrary claim by the Sublicensee, the fees, milestones, royalties and other amounts payable to Harvard under Sections 4.2, 4.3, and 4.4 will be [**]
with respect to any payments that become due and Net Sales of Licensed Products that are sold during the pendency of such Patent Challenge. If the outcome of such Patent Challenge is a determination against the Challenging Party, (1) (A) in the case
of a Patent Challenge subject to clause (a) above, the fees, milestones, royalties and other amounts payable to Harvard under Sections 4.2, 4.3, and 4.4 shall remain at such [**] rate, (B) in the case of a Patent
Challenge subject to clause (b)(1) above, only the milestones and royalties payable to Harvard under Sections 4.3 and 4.4 related to the challenging Sublicensee’s milestone achievements and Net Sales shall remain at such [**]
rate, and (C) in the case of a Patent Challenge subject to clause (b)(ii) above all the fees, milestones, royalties and other amounts payable to Harvard under Sections 4.2, 4.3, and 4.4 shall remain at such [**] rate, and
(2) Licensee shall reimburse Harvard [**] the amount of all reasonable expenses incurred by Harvard (including reasonable attorneys’ fees) in connection with such Patent Challenge. If the outcome of such Patent Challenge is a determination
in favor of the Challenging Party, Licensee will have no right, nor will any Affiliate or Sublicensee have any right, to recoup any royalties or other amounts paid before or during the pendency of such Patent Challenge. The Parties agree that any
Patent Challenge by Licensee, or any of its Affiliates or Sublicensees, may be detrimental to Harvard, and that the foregoing provisions shall constitute reasonable liquidated damages to reasonably compensate Harvard for any loss it may incur as a
result of Licensee, or any of its Affiliates’ or Sublicensees’, taking such action. 

  
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 4.5.2 Licensee shall include in each agreement for a Sublicense a clause equivalent with
respect to the Sublicensee to the provisions found in the foregoing Section 4.5.1 (adjusted for party names, section references, and the like) and shall make Harvard an explicit third party beneficiary thereof. 

4.5.3 Notwithstanding Section 4.5.1(b)(ii) and Section 4.5.1(1)(A), if the Challenging
Party that takes an action that constitutes a Patent Challenge is a Sublicensee rather than Licensee or an Affiliate, then, the adjustment to the royalty rate under Section 4.4 of this Agreement with respect to Net Sales by
Sublicensees of Licensed Products shall apply only to the calculation of royalties on Net Sales by such challenging Sublicensee, and the adjustment to the milestone payments under Section 4.3 with respect to Licensed
Products achieved by Sublicensees shall apply only to the milestone payments with respect to Licensed Products achieved by such challenging Sublicensee. Licensee will make Harvard an explicit intended third-party beneficiary of the obligation in the
Sublicense agreement for the Sublicensee to pay Harvard [**] the amount of all expenses incurred by Harvard (including reasonable attorneys’ fees) in connection with such Patent Challenge, and will reasonably assert its rights under the
Sublicense for such [**] payments to be made, and reasonably cooperate with Harvard if Harvard takes enforcement actions of its own as to such right to [**] payment. 

To avoid doubt, royalties on Net Sales by Licensee and its Affiliates and Sublicensees who are not Challenging Parties shall not be [**] under
Section 4.5.1(b) as a result of the Patent Challenge actions of an unrelated Sublicensee Challenging Party. 
 4.6
Non-Royalty Sublicense Income. Licensee will pay Harvard a percentage in accordance with the following table of all Non-Royalty Sublicense Income, without
deduction (other than as provided in the definition of Non-Royalty Sublicense Income in Section 1.65) or apportionment of any kind; provided, however, that Licensee may deduct from Non-Royalty Sublicense Income received by Licensee as a result of the achievement by a Sublicensee of a milestone event set forth in Section 4.3.1 the amount of the corresponding milestone
payment due Harvard under Section 4.3.1 in connection with the achievement of such milestone event. 
  

			
	 Category of Sublicense
	  	Percentage of Non-
Royalty Sublicense
Income
	 (a) With respect to a Sublicense executed [**]
	  	[**]
	 (b) With respect to a Sub license executed [**]
	  	[**]
	 (c) With respect to a Sublicense executed [**]
	  	[**]

 Subject to Section 1.65, in the case of
Non-Royalty Sublicense Income received in kind in the form of a freely transferable security (except for such restrictions on transfer imposed by applicable law), Licensee may distribute such in-kind Non-Royalty Sublicense Income to Harvard in the same form in which received by the Licensee. 

  
 40 

 4.7 Success Payments. Licensee shall make such payments (each, a “Win-State Payment” and collectively, the “Win-State Payments”) as are determined in accordance with Exhibit 4.7 hereto. Any acquirer, lessee,
exclusive licensee or other transferee of all or substantially all of the Licensee’s assets, or any successor entity to the Licensee (each, an “Acquirer”), shall be obligated to assume the Licensee’s obligations pursuant
to this Section 4.7 and Exhibit 4.7 hereto, as such obligations are set forth herein and therein and subject to the terms and conditions (including contingent events) set forth herein and therein. 

5. Reports; Payments; Records. 
 5.1
Reports and Payments. 
 5.1.1 Reports. Within [**] days after the conclusion of each Calendar Quarter commencing with the
first Calendar Quarter in which Net Sales are generated or Non-Royalty Sublicense Income is received, Licensee shall deliver to Harvard a report containing the following information (in each instance, with a
Licensed Product-by-Licensed Product and country-by-country breakdown): 

5.1.1.1 the number of units of Licensed Products sold, leased or otherwise transferred by Invoicing Entities for the applicable
Calendar Quarter; 
 5.1.1.2 the gross amount billed or invoiced for Licensed Products sold, leased or otherwise transferred
by Invoicing Entities during the applicable Calendar Quarter; 
 5.1.1.3 a calculation of Net Sales for the applicable
Calendar Quarter, including an itemized listing of allowable deductions; 
 5.1.1.4 a detailed accounting of all Non-Royalty Sublicense Income received during the applicable Calendar Quarter; 
 5.1.1.5
the total amount payable to Harvard in U.S. Dollars on Net Sales and Non-Royalty Sublicense Income for the applicable Calendar Quarter, together with the exchange rates used for conversion; and 

5.1.1.6 a good faith list of [**] for all Patent Rights that have Valid Claims covering the Licensed Products. 

Each such report shall be certified on behalf of Licensee as true, correct and complete in all material respects. If no amounts are due to
Harvard for a particular Calendar Quarter, the report shall so state. 
 5.1.2 Payment. Within [**] days after the end of each
Calendar Quarter, Licensee shall pay Harvard all amounts due with respect to Net Sales and Non-Royalty Sublicense Income for the applicable Calendar Quarter; provided, however, that for royalties to Harvard on
Net Sales by Sublicensees, Licensee shall have until the earlier of (a) [**] business days after receiving the quarterly royalty payment from the Sublicensee and (b) [**] days after the end of the applicable Calendar Quarter to turn around payment
to Harvard on the underlying Net Sales. 

  
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 5.2 Payment Currency. All payments due under this Agreement will be paid in U.S.
Dollars. Conversion of foreign currency to U.S. Dollars will be made at the conversion rate existing in the United States (as reported in the Wall Street Journal) on the last working day of the applicable Calendar Quarter. Such payments will be
without deduction of exchange, collection or other charges. Notwithstanding the foregoing, a reasonable and customary currency conversion methodology as is set forth in a Sublicense agreement shall be the method used for currency conversion of
amounts due in relation to such Sublicense agreement. 
 5.3 Records. Licensee shall maintain, and shall cause its Affiliates and
Sublicensees to maintain, complete and accurate records of Licensed Products that are made, used, sold, leased or transferred under this Agreement, any amounts payable to Harvard in relation to such Licensed Products, and all Non-Royalty Sublicense Income received by Licensee and its Affiliates, which records shall contain sufficient information to permit Harvard to confirm the accuracy of any reports or notifications delivered to
Harvard under Section 5.1. Licensee, its Affiliates and/or its Sublicensees, as applicable, shall retain such records relating to a given Calendar Quarter for at least [**] years after the conclusion of that Calendar
Quarter, during which time Harvard will have the right, at its expense, to cause an independent, certified public accountant (or, in the event of a non-financial audit, other appropriate auditor) to inspect
such records during normal business hours for the purposes of verifying the accuracy of any reports and payments delivered under this Agreement and Licensee’s compliance with the terms hereof. Such accountant or other auditor, as applicable,
shall be under reasonable written obligations of confidentiality to the audited party and shall not disclose to Harvard any information other than information relating to the accuracy of reports and payments delivered under this Agreement. In
addition, the auditor shall disclose its draft conclusions to Licensee and Harvard, and the basis for such conclusions to Licensee, prior to making its final report to Harvard, and shall reasonably consider the Licensee’s comments in response
thereto (if any). The accounting records as to any accounting period shall not be audited more than [**], nor more than [**] years after the end of such accounting period. The parties shall reconcile any underpayment or overpayment within [**] days
after the accountant delivers the results of the audit. If any audit performed under this Section 5.3 reveals an underpayment in excess of [**] percent ([**]%) in any calendar year, Licensee shall reimburse Harvard for all
amounts incurred in connection with such audit. Harvard may exercise its rights under this Section 5.3 only [**] every year per audited entity and only with reasonable prior notice to the audited entity. Notwithstanding the
foregoing, provided that the Licensee obtains an [**] audit right for itself with respect to a Sublicensee’s records, as well as the right to share the results of such audit with Harvard, the Licensee shall not be required to obtain from such
Sublicensee a direct audit right for Harvard. In such event, in any calendar year in which Licensee would not otherwise exercise its right to audit a given Sublicensee, if requested by Harvard in writing, Licensee shall exercise such audit right,
which shall be at Harvard’s expense unless the audit reveals an underpayment (either by the Sublicensee alone or when taken together with all other contemporaneous audits conducted by or at the request of Harvard) in excess of [**] percent
([**]%) in any calendar year that is the subject of the audit, in which case such audit shall be at Licensee’s expense. 

  
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 5.4 Late Payments. Any payments by Licensee that are not paid on or before the date
such payments are due under this Agreement will bear interest at the lower of (a) [**] percent ([**]%) per month and (b) the maximum rate allowed by law. Interest will accrue beginning on the first day following the due date for payment and
will be compounded [**]. Payment of such interest by Licensee shall not limit, in any way, Harvard’s right to exercise any other remedies Harvard may have as a consequence of any payment due but unpaid hereunder. 

5.5 Payment Method. Each payment due to Harvard under this Agreement shall be paid by check or wire transfer of funds to Harvard’s
account in accordance with written instructions provided by Harvard. If made by wire transfer, such payments shall be marked so as to refer to this Agreement. 

5.6 Withholding and Similar Taxes. All amounts to be paid to Harvard pursuant to this Agreement shall be without deduction of exchange,
collection, or other charges, and, specifically, without deduction of withholding or similar taxes or other government imposed fees or taxes, except as permitted in the definition of Net Sales; provided that Licensee shall be entitled to make
payment to an account of Harvard held in the United States. 
 6. Patent Filing, Prosecution and Maintenance. 

6.1 Control. Harvard will be responsible for the preparation, filing, prosecution, protection, defense and maintenance of all Patent
Rights, using independent patent counsel reasonably acceptable to Licensee, and including oppositions, inter partes reviews and post-grant reviews. Harvard will: (a) instruct such patent counsel to furnish the Licensee with copies of all
correspondence relating to the Patent Rights from the United States Patent and Trademark Office (USPTO) and any other patent office, as well as copies of all proposed responses to such correspondence in time for Licensee to review and comment on
such response; (b) give Licensee an opportunity to review the text of each patent application before filing; (c) consult with Licensee with respect thereto; (d) supply Licensee with a copy of the application as filed, together with
notice of its filing date and serial number; and (e) keep Licensee advised of the status of actual and prospective patent filings. Harvard shall give Licensee the opportunity to provide comments on and make requests of Harvard concerning the
preparation, filing, prosecution, protection, defense and maintenance of the Patent Rights, and shall seriously consider such comments and requests (including any comment or request that Harvard refrain from filing a
continuation-in-part application or that Harvard file a Patent Right divisional or similar filing that is specific to the Field); [**]. In particular, and without
intending to limit any of Harvard’s rights pursuant to this Agreement, Harvard expressly reserves the right to decline Licensee’s request to file, prosecute, maintain or defend any of the Patent Rights in any Developing Country(ies) unless
(i) Licensee demonstrates to Harvard’s reasonable satisfaction that the filing, prosecution, maintenance or defense of such Patent Rights in such Developing Country(ies) would materially increase the locally-affordable availability of
Licensed Products or equivalents thereof (e.g., generic products) in those and/or other Developing Country(ies) and (ii) the provisions of Article 7 notwithstanding, Licensee agrees that Harvard shall hold final decision-making
authority, on a case-by-case basis, as to whether Licensee will be permitted to enforce such Patent Rights in such Developing Country(ies). 

  
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 6.2 Expenses. Subject to Section 7.3 below, Licensee shall
reimburse Harvard for [**] documented, out-of-pocket expenses incurred by Harvard pursuant to this Article 6, within [**] days after the date of each invoice from
Harvard for such expenses. [**]. In the event that after the Effective Date, Harvard enters into a license with a third party with respect to any of the Base Editor Patent Rights outside the Field or Supporting Technology Patent Rights in or outside
the Field, then Harvard shall use reasonable efforts to secure a provision under such license that provides for payment of an appropriate portion of past and future expenses related to such Patent Rights by such licensee at the time such expenses
are incurred, taking into consideration the scope and type (i.e., exclusive or non-exclusive) of such license. In the event that Harvard is able to collect such amounts, Harvard shall reimburse Licensee for a
pro rata share of such expenses already paid by Licensee. 
 6.3 Abandonment. If Licensee decides that it does not wish to pay for the
preparation, filing, prosecution, protection or maintenance of any Patent Rights in a particular country, then Licensee shall provide Harvard with prompt written notice of such election and upon such written notice, the Patent Rights that were the
subject of the notice, solely in the countries identified in the notice for such Patent Rights, shall be “Abandoned Patent Rights”. Upon receipt of such notice by Harvard, Licensee shall be released from its obligation to reimburse
Harvard for the expenses incurred thereafter as to such Abandoned Patent Rights; provided, however, that expenses authorized prior to the receipt by Harvard of such notice that cannot be cancelled as of the date of the notice shall be deemed
incurred prior to the notice. Any license granted by Harvard to Licensee hereunder with respect to any Abandoned Patent Rights will terminate, and Licensee will have no rights whatsoever to exploit such Abandoned Patent Rights. Harvard will then be
free, without further notice or obligation to Licensee, to grant rights in and to such Abandoned Patent Rights to third parties. In addition, Harvard shall have the right to grant to third party licensees of any Abandoned Patent Rights that are
Disease-Specific Patent Rights and with advance written notice to the Licensee, a non-exclusive license under the Patent Rights other than such Disease-Specific Patent Rights solely to make, have made, offer
for sale, sell, have sold and import such [**] Proposed Product Covered (as of the date of the applicable notice from Licensee of its election not to pay patent expenses with respect to such Abandoned Patent Rights) by such Abandoned Patent Rights
for the prevention or treatment of the applicable human disease solely in the countries applicable to such Abandoned Patent Rights and not including any indications or applications not Covered (as of the date of the applicable notice from Licensee
of its election not to pay patent expenses with respect to such Abandoned Patent Rights) by such Abandoned Patent Rights in such country. In addition, if Abandoned Patent Rights represent substantially all the material patentable claims within a
Subcategory of Base Editor Patent Rights, Harvard shall have the right to grant to third party licensees of such Abandoned Patent Rights within such Subcategory of Base Editor Patent Rights, a non-exclusive
license under the Patent Rights solely to make, have made, offer for sale, sell, have sold and import products, including Base Editor Products, that are claimed or covered by Patent Rights within such Subcategory of Base Editor Patent Rights in any
field solely in the countries 

  
 44 

 
applicable to such Abandoned Patent Rights, which non-exclusive license shall not extend to components of such products that are a different category of
Base Editor than the category of Base Editor that is the subject matter of such Abandoned Patent Rights (for non-limiting example, [**]). For clarity, Abandoned Patent Rights are defined on a country-by-country basis, not a worldwide basis, and Licensee shall retain its rights in all other countries to the Patent Rights that are counterparts in other countries to
the Abandoned Patent Rights (and the non-exclusive licenses referred to in this paragraph shall not extend to such other countries). 

6.4 Marking. Licensee shall, and shall cause its Affiliates and Sublicensees to, mark all Licensed Products sold or otherwise disposed
of in such a manner as to conform with the patent laws and practice of the country to which such products are shipped or in which such products are sold for purposes of ensuring maximum enforceability of Patent Rights in such country. 

7. Enforcement of Patent Rights. 
 7.1
Notice. In the event either party becomes aware of any possible or actual infringement of any Patent Rights with respect to Licensed Products in the Field (an “Infringement”), that party shall promptly notify the other party and
provide it with details regarding such Infringement. 
 7.2 Suit by Licensee. Licensee shall have the first right, but not the
obligation, to take action in the prosecution, prevention, or termination of any Infringement. Before Licensee commences an action with respect to any Infringement, Licensee shall consider in good faith the views of Harvard and potential effects on
the public interest in making its decision whether to sue. Should Licensee elect to bring suit against an infringer, Licensee shall keep Harvard reasonably informed of the progress of the action and shall give Harvard a reasonable opportunity in
advance to consult with Licensee and offer its views about major decisions affecting the litigation. Licensee shall give careful consideration to those views, but shall have the right to control the action; provided, however, that if Licensee fails
to defend in good faith the validity and/or enforceability of the Patent Rights in the action, or if Licensee’s license to a Valid Claim in the suit terminates, Harvard may elect to take control of the action pursuant to
Section 7.3. Any and all expenses, including reasonable attorneys’ fees, incurred by Harvard under this Section 1.2 with respect to the prosecution, adjudication and/or settlement of such
suit, including any related appeals, shall be paid for entirely by Licensee and Licensee shall hold Harvard free, clear and harmless from and against any and all such expenses. The expenses of such suit or suits that Licensee elects to bring under
this Section 7.2, including any expenses of Harvard incurred in conjunction with the prosecution of such suits or the settlement thereof by Licensee under this Section 7.2, shall be paid for
entirely by Licensee and Licensee shall hold Harvard free, clear and harmless from and against any and all costs of such litigation, including reasonable attorneys’ fees (to avoid doubt, excluding costs of any suit that becomes a suit by
Harvard under Section 7.3 as provided for above). Licensee shall not compromise or settle litigation under this Section without the prior written consent of Harvard, which consent shall not be unreasonably withheld or
delayed. In the event Licensee exercises its right to sue pursuant to this Section 7.2, it shall first reimburse itself out of any sums recovered in such suit or in 

  
 45 

 
settlement thereof for all costs and expenses of every kind and character, including reasonable attorneys’ fees, necessarily incurred in the prosecution of any such suit. If, after such
reimbursement, any funds shall remain from said recovery, then Harvard shall receive an amount of such remaining funds equal to the applicable percentage in Section 4.6 had the infringer been a Sublicensee instead (and such
recovery was Non-Royalty Sublicense Income paid under a Sublicense executed on the effective date of the settlement or the date of entry of judgment by the court awarding such recovered sums, whichever is
applicable), and the remainder of such funds shall be retained by Licensee. 
 7.3 Suit by Harvard. If Licensee does not take action
in the prosecution, prevention, or termination of any Infringement pursuant to Section 7.2 above, and has not commenced negotiations with the infringer for the discontinuance of said Infringement, within [**] days after
receipt of notice to Licensee by Harvard of the existence of an actual Infringement, then Harvard may elect to do so. Should Harvard elect to bring suit against an infringer and Licensee is joined as party plaintiff in any such suit, Licensee shall
have the right to approve the counsel selected by Harvard to represent Harvard and Licensee, such approval not to be unreasonably withheld. Any and all expenses, including reasonable attorneys’ fees, incurred by Licensee with respect to the
prosecution, adjudication and/or settlement of such suit, including any related appeals, shall be paid for entirely by Harvard and Harvard shall hold Licensee free, clear and harmless from and against any and all such expenses. Harvard shall not
compromise or settle such litigation without the prior written consent of Licensee, which consent shall not be unreasonably withheld or delayed; provided, however, that Licensee shall retain the sole authority to grant Sublicenses in its discretion.
In the event Harvard exercises its right to sue pursuant to this Section 7.3, it shall first reimburse itself out of any sums recovered in such suit or in settlement thereof for all costs and expenses of every kind and
character, including reasonable attorneys’ fees, necessarily incurred in the prosecution of any such suit. If, after such reimbursement, any funds shall remain from said recovery, then Harvard shall retain an amount of such funds equal to [**]
the applicable percentage in Section 4.6 had the infringer been a Sublicensee instead (and such recovery was Non-Royalty Sublicense Income paid under a Sublicense executed on the
effective date of the settlement or the date of entry of judgment by the court awarding such recovered sums, whichever is applicable), and the remainder of such funds, if any, shall be paid to Licensee. 

7.4 Own Counsel. Each party shall always have the right to be represented by counsel of its own selection and at its own expense in any
suit instituted under this Article 7 by the other party for Infringement. 
 7.5 Cooperation. Each party agrees to cooperate
fully in any action under this Article 7 that is controlled by the other party, provided that the controlling party reimburses the cooperating party promptly for any costs and expenses incurred by the cooperating party in connection with
providing such assistance. This includes the obligation to be named as a party plaintiff or to join as a necessary or indispensable party in the other party’s permitted suits under Section 7.2 or 7.3, if needed
for standing or otherwise necessary to pursue the suit. 

  
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 7.6 Declaratory Judgment. If a declaratory judgment action is brought naming Licensee
and/or any of its Affiliates or Sublicensees as a defendant and alleging invalidity or unenforceability of any claims within the Patent Rights, Licensee shall promptly notify Harvard in writing. Similarly, if Harvard is named as a defendant in a
declaratory judgment action related to the Patent Rights, Harvard shall promptly notify Licensee in writing. In either case, Harvard may elect, upon written notice to Licensee (such written notice to be given within [**] days after Harvard receives
notice of the commencement of such action, in the case of actions of which Licensee notifies Harvard) to conduct or to take over the sole defense of the invalidity and/or unenforceability aspect of the action at its own expense. In such event,
Harvard shall keep Licensee fully informed in advance of the strategy in responding to such declaratory judgment action, the parties shall enter into a common interest/joint defense agreement as appropriate (which shall not be in conflict with this
Agreement), and Harvard shall reasonably consult with and consider the comments of Licensee and its counsel, and Harvard shall hold Licensee free, clear and harmless from and against any and all such expenses. If Harvard does not promptly elect to
conduct the defense or take over the defense of the applicable suit (or portion thereof), then the Licensee shall have the right to conduct the defense at Licensee’s expense, and Harvard shall reasonably cooperate with Licensee in relation
thereto. 
 7.7 Actions Against Infringement Outside the Field. Prior to taking action to enforce any Patent Rights against
infringement outside the Field, Harvard shall, to the extent feasible and consistent with any obligations of confidentiality that apply to Harvard, give the Licensee no less than [**] days advance written notice. Promptly after such notice, if
requested by the Licensee, Harvard shall meet and confer with Licensee, subject to any obligations of confidentiality that apply to Harvard, and consider Licensee’s concerns (if any) related to the potential enforcement action. In addition, if
Harvard grants an exclusive license under any given Patent Rights outside the Field, Harvard shall provide in the license agreement that the exclusive licensee under such Patent Rights outside the Field shall not have the right to enforce the Patent
Rights against infringement, even infringement within the field licensed to such licensee, without first conferring with Licensee to reach consensus as to an enforcement strategy with which both Licensee and the third party are comfortable. In order
to facilitate such conference, Licensee agrees and Harvard shall provide in the applicable license agreement that the exclusive licensee shall agree to negotiate in good faith and, if agreement on terms is obtained, execute such reasonable
confidentiality, common interest or similar agreement, as may be recommended in good faith by counsels to Licensee and such exclusive licensee. Licensee agrees to approach all such discussions with any exclusive licensees of Harvard outside the
Field in good faith. Neither Licensee nor any such exclusive licensee shall be required to disclose any information in such conference if counsel to Licensee or such exclusive licensee advises that such disclosure is inadvisable. 

7.8 Licensee Actions in Support of Affiliates and Sublicensees. It is understood that the Licensee may exercise its rights under this
Article 7 in support of its Affiliates and Sublicensees, and may seek the comments and financial support of Affiliates and Sublicensees on patent prosecution and enforcement, and may make comments and seek to enforce Patent Rights in
accordance with this Article 7 to protect the interests of its Affiliates and Sublicensees, in addition to the Licensee’s own interests. 

  
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 8. Warranties: Limitation of Liability. 

8.1 Compliance with Law. Licensee represents and warrants that it will comply, and will ensure that its Affiliates and Sublicensees
comply, with all local, state, federal and international laws and regulations relating to the development, manufacture, use, sale and importation of Licensed Products. Without limiting the foregoing, Licensee represents and warrants, on behalf of
itself and its Affiliates and Sublicensees, that it shall comply with all United States laws and regulations controlling the export of certain commodities and technical data, including without limitation all Export Administration Regulations of the
United States Department of Commerce. Among other things, these laws and regulations prohibit or require a license for the export of certain types of commodities and technical data to specified countries. Licensee hereby gives written assurance that
it will comply with, and will cause its Affiliates to comply with (and will contractually obligate its Sublicensees to comply with), all United States export control laws and regulations, that as between the parties it bears sole responsibility for
any violation of such laws and regulations by itself or its Affiliates or Sublicensees, and that it will indemnify, defend, and hold Indemnitees and HHMI Indemnitees harmless (in accordance with Section 9.1) for the
consequences of any such violation. 
 8.2 Representations and Warranties. 

8.2.1 By Harvard. Harvard represents and warrants that (A) Harvard has the authority and right to enter into and perform its
obligations under this Agreement and grant the licenses granted to Licensee herein, (B) as of the Effective Date, to the best of the knowledge of Harvard’s Office of Technology Development, the execution, delivery and performance of this
Agreement by Harvard does not conflict with, or constitute a breach of, any order, judgment, agreement or instrument to which it is a party or is otherwise bound, (C) as of the Effective Date, to the best of the knowledge of Harvard’s
Office of Technology Development, no consent of any Third Party, including without limitation any governmental authority, is required for Harvard to execute, deliver and perform under this Agreement, including without limitation to grant the
licenses granted to Licensee herein, except for such consents as may have been obtained prior to the Effective Date, and (D) as of the Effective Date, Harvard has received assignments from each of the inventors listed on the patent applications
for each Patent Right assigning to Harvard each such inventor’s entire right, title and interest in and to such Patent Rights. To the best of the knowledge of Harvard’s Office of Technology Development, as of the Effective Date, Harvard
has not granted to a third party rights that are inconsistent with those granted to Licensee herein. 
 8.2.2 By Licensee. Licensee
represents and warrants that (A) Licensee has the authority and right to enter into and perform its obligations under this Agreement, (B) as of the Effective Date, the best of Licensee’s knowledge, the execution, delivery and
performance of this Agreement by Licensee does not conflict with, or constitute a breach of, any order, judgment, agreement or instrument to which it is a party or, to its knowledge, is otherwise bound, and (C) as of the Effective Date, the
best of Licensee’s knowledge, no consent of any Third Party, including without limitation any governmental authority, is required for Licensee to execute, deliver and perform under this Agreement, except for such consents as may have been
obtained prior to the Effective Date. 

  
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 8.3 No Warranty. 

8.3.1 Harvard makes no representations or warranties other than those set forth above. 

8.3.2 Nothing contained herein shall be deemed to be a warranty by Harvard that it can or will be able to obtain patents on patent applications
included in the Patent Rights, or that any of the Patent Rights will afford adequate or commercially worthwhile protection. 
 8.3.3 HARVARD
MAKES NO WARRANTIES WHATSOEVER AS TO THE COMMERCIAL OR SCIENTIFIC VALUE OF THE PATENT RIGHTS. HARVARD MAKES NO REPRESENTATION THAT THE PRACTICE OF THE PATENT RIGHTS OR THE DEVELOPMENT, MANUFACTURE, USE, SALE OR IMPORTATION OF ANY LICENSED PRODUCT,
OR ANY ELEMENT THEREOF, WILL NOT INFRINGE ANY PATENT OR PROPRIETARY RIGHTS. 
 8.3.4 EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS
AGREEMENT, NEITHER PARTY MAKES ANY WARRANTY WITH RESPECT TO ANY TECHNOLOGY, PATENTS, GOODS, SERVICES, RIGHTS OR OTHER SUBJECT MATTER OF THIS AGREEMENT AND EACH PARTY HEREBY DISCLAIMS WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE
AND NONINFRINGEMENT WITH RESPECT TO ANY AND ALL OF THE FOREGOING. 
 8.4 Limitation of Liability. 

8.4.1 EXCEPT WITH RESPECT TO MATTERS FOR WHICH LICENSEE IS OBLIGATED TO INDEMNIFY INDEMNITEES UNDER ARTICLE 9, NEITHER PARTY SHALL BE
LIABLE TO THE OTHER PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY FOR (A) ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OR LOST
PROFITS OR (B) COST OF PROCUREMENT OF SUBSTITUTE GOODS, TECHNOLOGY OR SERVICES. 
 8.4.2 Harvard’s aggregate liability for all
damages of any kind arising out of or relating to this Agreement or its subject matter under any contract, negligence, strict liability or other legal or equitable theory shall not exceed [**] (including equity issuance and in-kind payments in addition to monetary payments), plus cancellation of future amounts due (in whatever form, including equity issuances and in-kind payments as well as
monetary payments) under this Agreement (i.e., damages are permitted to be in whole or in part in the form of cancellation of future obligations of the Licensee in addition to disgorgement of past payments). 

  
 49 

 9. Indemnification and Insurance. 

9.1 Indemnity. 
 9.1.1
Licensee shall (and shall cause its Affiliates and Sublicensees to) indemnify, defend and hold harmless Harvard and its current and former directors, governing board members, trustees, officers, faculty, medical and professional staff, employees,
students, and agents and their respective successors, heirs and assigns (collectively, the “Indemnitees”) from and against any claim, suit, investigation, action, demand, judgment, liability, cost, expense, damage, deficiency, loss
or obligation of any kind or nature (including reasonable attorneys’ fees and other costs and expenses of litigation or defense), based upon, arising out of, or otherwise relating to the Licensee’s or its Affiliates’ or
Sublicensees’ exercise of rights under this Agreement or any Sublicense or subcontract, including any cause of action relating to product liability concerning any product, process, or service made, used, sold or performed pursuant to any right
or license granted under this Agreement (collectively, “Claims”) except to the extent any such Claim results from or arises out of the gross negligence or willful misconduct of an Indemnitee. No Affiliate of Licensee (other than an
Affiliate controlling Licensee) shall have an obligation to indemnify Harvard for any Claim based upon, arising out of, or otherwise relating to the exercise of rights under this Agreement by a different Affiliate of Licensee or by any other person
unless such Affiliate or other person is exercising rights granted by such first Affiliate or acting on such first Affiliate’s behalf or upon its instruction or advice. No Sublicensee shall have an obligation to indemnify Harvard for any Claim
based upon, arising out of, or otherwise relating to the exercise of rights under this Agreement by a different Sublicensee, Licensee, any Affiliate of Licensee or by any other person unless such different Sublicensee, Licensee or Affiliate or other
person is exercising rights granted by such first Sublicensee or acting on such first Sublicensee’s behalf or upon its instruction or advice. 

9.1.2 Procedures. The Indemnitees agree to provide Licensee with prompt written notice of any Claim for which indemnification is sought
under this Agreement (in any event no later than [**] days after the Indemnitee learns of the earliest event that is part of the Claim); provided, however, that an Indemnitee’s delay in providing or failure to provide such notice shall not
relieve Licensee of its indemnification obligations under this Agreement, except to the extent Licensee can demonstrate actual prejudice due to the delay or lack of notice. Licensee agrees, at its own expense, to provide attorneys reasonably
acceptable to Harvard to defend against any such Claim. The Indemnitees shall cooperate with Licensee, at Licensee’s expense, in such defense and shall permit Licensee (or its designee) to conduct and control such defense and the disposition of
such Claim (including without limitation all decisions relative to litigation, appeal, and settlement); provided, however, that any Indemnitee shall have the right to retain its own counsel, at the expense of Licensee, if representation of such
Indemnitee by the counsel retained by Licensee would be inappropriate because of actual or potential differences in the interests of such Indemnitee and any other party represented by such counsel; and provided further, however, that Harvard also
shall have the additional right to employ separate counsel and to participate in the defense of a Claim (as reasonably directed by Licensee) at its own expense (not subject to later indemnification). Harvard agrees to use diligent efforts to select
counsel, and to cause any other Indemnitees affiliated with their respective institutions to select counsel, that minimizes the number of counsel retained by all Indemnitees if representation of an Indemnitee by the counsel retained by Licensee
would be inappropriate because of actual or potential differences in the interests of such Indemnitee and any other party represented by such counsel. Licensee agrees to keep counsel(s) for Indemnitees informed of the progress in the

  
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defense and disposition of such claim and to consult with Harvard with regard to any proposed settlement. Licensee shall not settle any Claim that has a materially adverse effect on the rights of
any Indemnitee hereunder or that admits any liability by or imposes any obligation on any Indemnitee without the prior written consent of such Indemnitee, which consent shall not be unreasonably withheld, conditioned or delayed. An Indemnitee may
not settle any Claim without the prior written consent of Licensee, which consent shall not be unreasonably withheld, conditioned or delayed. If Licensee fails to assume defense of a Claim within a reasonable time, an Indemnitee may defend (at
Licensee’s sole expense) and settle such Claim on such terms as such Indemnitee deems appropriate with the prior written consent of Licensee (such consent not to be unreasonably withheld, delayed or conditioned), and Licensee shall be obligated
to indemnify such Indemnitee for such settlement as provided in this Article 9. 
 9.1.3 HHMI, and its trustees, officers, employees,
and agents (collectively, “HHMI Indemnitees”), shall be indemnified, defended by counsel acceptable to HHMI, and held harmless by Licensee, from and against any claim, liability, cost, expense, damage, deficiency, loss, or
obligation, of any kind or nature (including, without limitation, reasonable attorneys’ fees and other costs and expenses of defense) (collectively, “HHMI Claims”), based upon, arising out of, or otherwise relating to this
Agreement or any Sublicense or subcontract, including without limitation any cause of action relating to product liability. Notwithstanding Section 8.4 or any other provision of this Agreement, Licensee’s obligation to
defend, indemnify and hold harmless the HHMI Indemnitees under this paragraph shall not be subject to any limitation or exclusion of liability or damages or otherwise limited in any way. 

9.1.4 Notwithstanding anything express or implied, Licensee shall not be required to indemnify, defend, or hold harmless any Indemnitee or HHMI
Indemnitee with respect to any dispute amongst any Indemnitee(s), HHMI Indemnitee(s), and/or subsets of any of the foregoing, as to the division amongst themselves of the consideration paid by Licensee under this Agreement. 

9.2 Insurance. 
 9.2.1
Beginning at the time any Licensed Product is being commercially distributed or sold (other than for the purpose of obtaining regulatory approvals) by Licensee, or by an Affiliate, Sublicensee or agent of Licensee, Licensee shall, at its sole cost
and expense, procure and maintain commercial general liability insurance in amounts not less than $[**] per incident and $[**] annual aggregate and naming the Indemnitees and HHMI Indemnitees as additional insureds. During clinical trials of any
such Licensed Product or Enabled Product Licensee shall, at its sole cost and expense, procure and maintain commercial general liability insurance in such equal or lesser amount as Harvard and HHMI shall require, naming the Indemnitees and HHMI
Indemnitees as additional insureds. Such commercial general liability insurance shall provide: (a) product liability coverage and (b) broad form contractual liability coverage for Licensee’s indemnification obligations under this
Agreement. 

  
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 9.2.2 If Licensee elects to self-insure all or part of the limits described above in
Section 9.2.1 (including deductibles or retentions that are in excess of $[**] annual aggregate) such self-insurance program must be acceptable to Harvard and CRICO/RMF (Harvard’s insurer) in their sole discretion. The
minimum amounts of insurance coverage required shall not be construed to create a limit of Licensee’s liability with respect to its indemnification obligations under this Agreement. 

9.2.3 Licensee shall provide Harvard with written evidence of such insurance upon request of Harvard. Licensee shall provide Harvard with
written notice at least [**] days prior to the cancellation, non-renewal or material change in such insurance. If Licensee does not obtain replacement insurance providing comparable coverage within such [**]
day period, Harvard shall have the right to terminate this Agreement effective at the end of such [**] day period without notice or any additional waiting periods. 

9.2.4 Licensee shall maintain such commercial general liability insurance beyond the expiration or termination of this Agreement during:
(a) the period that any Licensed Product is being commercially distributed or sold by Licensee, or an Affiliate, Sublicensee or agent of Licensee; and (b) a reasonable period after the period referred to in (a) above which in no event
shall be less than [**] years. 
 10. Term and Termination. 

10.1 Term. The term of this Agreement shall commence on the Effective Date and, unless earlier terminated as provided in this Article
10, shall continue in full force and effect until the expiration of the last to expire Valid Claim (the “Term”) or end of the Royalty Term. 

10.2 Termination. 
 10.2.1
Termination Without Cause. Licensee may terminate this Agreement upon [**] days prior written notice to Harvard, with or without cause. 

10.2.2 Termination for Default. 

10.2.2.1 In the event that either party commits a material breach of its obligations under this Agreement and fails to cure
that breach within [**] days after receiving written notice thereof which written notice explicitly states that it is a notice of material breach under this Section 10.2.2.1, the other party may terminate this Agreement
immediately upon written notice to the party in breach. 
 10.2.2.2 If Licensee defaults in its obligations under
Section 9.2 to procure and maintain insurance or, if Licensee has in any event failed to comply with the notice requirements contained therein, then Harvard may terminate this Agreement immediately without notice or
additional waiting period. 
 10.2.2.3 Harvard shall be entitled to terminate this Agreement in its entirety in accordance
with the provisions of Section 3.4.6.1. 

  
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 10.2.3 Bankruptcy. Harvard may terminate this Agreement upon written notice to Licensee if
Licensee becomes insolvent, is adjudged bankrupt, applies for judicial or extra-judicial settlement with its creditors, makes an assignment for the benefit of its creditors, voluntarily files for bankruptcy or has a receiver or trustee (or the like)
in bankruptcy appointed by reason of its insolvency, or in the event an involuntary bankruptcy action is filed against Licensee and not dismissed within [**] days, or if Licensee becomes the subject of liquidation or dissolution proceedings or
otherwise discontinues all business operations. 
 10.3 Effect of Termination. 

10.3.1 Termination of Rights. Upon expiration or termination of this Agreement by either party pursuant to any of the provisions of
Section 10.2: (a) the rights and licenses granted to Licensee under Article 2 shall terminate, all rights in and to and under the Patent Rights will revert to Harvard and neither Licensee nor its Affiliates may make
any further use or exploitation of the Patent Rights; and (b) any existing agreements that contain a Sublicense shall terminate to the extent of such Sublicense; provided, however, that, solely in the case of termination by Harvard for breach
pursuant to the provisions of Section 10.2.2 or on account of bankruptcy pursuant to the provisions of Section 10.2.3, for each Sublicensee, upon termination of the Sublicense agreement with such
Sublicensee, if the Sublicensee was not then in breach of its Sublicense agreement with Licensee such that Licensee would have had the right to terminate such Sublicense and if the actions or failure to act of such Sublicensee did not give rise to
the basis for termination by Harvard, such Sublicensee shall have the right to enter into a direct license from Harvard under the Patent Rights within the scope of the Sublicensee’s Sublicense, on the same milestone and royalty terms as set
forth in this Agreement. Harvard agrees to negotiate in good faith the final form of such license agreement on such financial terms and conditions; such final form of direct license agreement shall not impose any representations, warranties,
obligations or liabilities on Harvard that are not included in this Agreement. 
 10.3.2 Accruing Obligations. Termination or
expiration of this Agreement shall not relieve the parties of obligations accruing prior to such termination or expiration, including obligations to pay amounts accruing hereunder up to the date of termination or expiration. After the date of
termination or expiration (except in the case of termination by Harvard pursuant to Section 10.2). Licensee, its Affiliates and Sublicensees (a) may sell Licensed Products then in stock and (b) may complete the
production of Licensed Products then in the process of production and sell the same; provided that, in the case of both (a) and (b), Licensee shall pay the applicable royalties and payments to Harvard in accordance with Article 4,
provide reports and audit rights to Harvard pursuant to Article 5 and maintain insurance in accordance with the requirements of Section 9.2. The parties agree that the obligations in
Section 4.1 (Equity) and Section 6.2 (Patent Expenses) (with respect to patent expenses incurred by Harvard prior to the Effective Date) will accrue immediately upon execution of this Agreement by
both parties, regardless of invoice and payment timing details set forth therein. 

  
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 10.3.3 Regulatory Filings. Licensee shall have the exclusive right to prepare and
present all regulatory filings necessary or appropriate in any country and to obtain and maintain any regulatory approval required to market Licensed Products in any such country. Licensee shall solely own all right, title and interest in and to all
such regulatory approvals and filings; provided, however, that in the event Licensee terminates this Agreement pursuant to Section 10.2.1 or Harvard terminates this Agreement pursuant to any of the provisions of
Section 10.2, Licensee shall reasonably consider and promptly discuss in good faith with Harvard reasonable terms upon which Licensee would be willing to provide Harvard with the right to reference, cross-reference, review,
have access to, incorporate and use all documents and other materials filed by or on behalf of Licensee and its Affiliates with any Regulatory Authority in furtherance of applications for regulatory approval in the relevant country with respect to
Licensed Products. 
 10.4 Survival. The parties’ respective rights, obligations and duties under Articles 5, 9,
10 and 11 and Sections 4.1, 4.2 (to the extent of payment obligations accruing prior to the effective date of expiration or termination), 4.3 (to the extent of payment obligations accruing prior to the effective
date of expiration or termination), 4.4 (to the extent of Net Sales prior to the effective date of expiration or termination) 4.5 (to the extent applicable at the effective date of expiration or termination), 4.7 (for so long as
Licensee, its Affiliate or a Sublicensee is researching, developing or commercializing an Enabled Product(s)), 6.2 (for expenses incurred prior to the effective date of expiration or termination), 8.3 and 8.4, shall survive any
expiration or termination of this Agreement. In addition, Licensee’s obligations under Section 4.4 and 4.6 with respect to Sublicenses granted prior to the effective date of expiration or termination of the Agreement shall survive such
expiration or termination. 
 11. Miscellaneous. 

11.1 Confidentiality. 

11.1.1 Definitions. 

11.1.1.1 “Harvard Confidential Information” means (a) any information related to Prosecution of Patent
Rights provided to Licensee by Harvard; (b) any information or material in tangible form that is marked as “confidential” or proprietary by Harvard at the time it is sent to Licensee; (c) information that is furnished orally by
Harvard if Harvard identifies such information as “confidential” or proprietary in writing by a memorandum delivered to Licensee within [**] days after the date of disclosure; and (d) the terms of this Agreement (but not its existence
or general subject matter), which shall constitute the Confidential Information of both Parties. 
 11.1.1.2
“Licensee Confidential Information” means (a) any Development Plan; (b) any reports prepared by Licensee and provided to Harvard pursuant to this Agreement (including any under Sections 3.3 and 5.1.1); (c)
any copies of Sublicenses, or information extracted therefrom, provided by Licensee to Harvard under Section 2.4.3; (d) any information or material in tangible form that is provided to Harvard in connection with this
Agreement and is marked as “confidential” or proprietary by Licensee at the time it is sent to Harvard or is furnished orally by Licensee if Licensee identifies such information as “confidential” or proprietary in writing by a
memorandum delivered to Harvard within [**] days after the date of disclosure; or (e) the terms of this Agreement (but not its existence or general subject matter of it), which shall constitute the Confidential Information of both Parties. The
Parties agree that Harvard may share the terms of this Agreement with HHMI. 

  
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 11.1.1.3 “Confidential Information” means the Harvard
Confidential Information and the Licensee Confidential Information, as applicable. 
 11.1.2 Obligations of Confidentiality. For the Term of
this Agreement and a period of [**] years thereafter, (a) Licensee shall maintain in confidence and shall not disclose to any third party any Harvard Confidential Information, and (b) Harvard shall maintain in confidence and shall not
disclose to any third party any Licensee Confidential Information, provided that Harvard may disclose to HHMI (A) the terms of this Agreement, including any Schedules and Exhibits, and (B) such Licensee Confidential Information as HHMI
reasonably requests, provided that any disclosure under the foregoing clause (A) shall be made in confidence to HHMI and that any disclosure under the foregoing clause (B) shall be under terms of a written confidentiality agreement
prohibiting the use and further disclosure by HHMI of such Licensee Confidential Information on terms as least as restrictive as those contained herein. Each Party shall take all reasonable steps to protect the Confidential Information of the other
Party with the same degree of care used to protect its own confidential or proprietary information. Neither Party shall use the Confidential Information of the other Party for any purpose other than those contemplated by this Agreement. The
foregoing obligations under this Section 11.1.2 shall not apply to: 
 (i) information that is known to the
receiving Party or independently developed by the receiving Party prior to the time of disclosure without use of or reference to the other Party’s Confidential Information, in each case, to the extent evidenced by contemporaneous written
records; 
 (ii) information that is independently developed by the receiving Party at or after the time of disclosure without use of or
reference to the other Party’s Confidential Information, to the extent evidenced by contemporaneous written records; 
 (iii)
information disclosed to the receiving Party by a third party that has a right to make such disclosure; 
 (iv) information that is or
becomes generally known or available to the public, other than as a result of a breach of this Agreement by the receiving Party; or 
 (v)
information that is required to be disclosed by order of the FDA or similar authority or a court of competent jurisdiction or other government authority or agency; provided that the Parties shall use commercially reasonable efforts to obtain
confidential treatment of such information by the agency, authority, or court. 

  
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 11.1.3 Permitted Disclosures. Notwithstanding
Section 11.1.2, either Party may disclose Confidential Information of the other Party to the extent such disclosure is reasonably necessary in the following instances: 

11.1.3.1 prosecuting or defending litigation in accordance with Article 7 of this Agreement; provided that the party
making a disclosure under this Section 11.1.3.1 shall seek confidential treatment, a protective order, or seek to file under seal if reasonably requested by the other party; 

11.1.3.2 making filings with the Securities and Exchange Commission or foreign equivalent, any stock exchange or market, or any
Regulatory Authorities, which shall include publicly disclosing or filing this Agreement as a “material agreement” in accordance with applicable law or applicable stock exchange regulations; 

11.1.3.3 complying with applicable laws, rules, regulations or orders (collectively, “Law”) or submitting
information to governmental authorities; provided that if either Party is required by Law to make any public disclosure of Confidential Information of the other Party, to the extent the Party so required may legally do so, it will give
reasonable advance notice to the other Party of such disclosure and will use its reasonable efforts to secure confidential treatment of such Confidential Information prior to its disclosure (whether through protective orders or otherwise); 

11.1.3.4 in the case of Licensee as the receiving Party, to its Affiliates and its and their prospective and actual acquirers,
licensees, sublicensees, distributors, investors, lenders and underwriters, each of which prior to disclosure must be bound by written or legally enforceable professional ethical obligations of confidentiality and
non-use of substantially equivalent or greater scope and duration than those set forth in this Section 11.1, and (a) its and their employees, consultants, agents, and advisors,
on a need to know basis, each of whom prior to disclosure must be bound by written obligations of confidentiality and non-use of substantially equivalent or greater scope and duration than those set forth in
this Section 11.1, and (b) its and their accountants and lawyers, on a need to know basis, each of whom prior to disclosure must be bound by written or legally enforceable professional ethical obligations of
confidentiality and non-use of substantially equivalent or greater scope and duration than those set forth in this Section 11.1; and 

11.1.3.5 in the case of Harvard as the receiving Party, to Harvard’s prospective and actual licensees (including
Sublicensees in the event of termination of this Agreement by Harvard for breach pursuant to the provisions of Section 10.2.2 or on account of bankruptcy pursuant to the provisions of
Section 10.2.3). acquirers of payment or equity rights (including Osage), lenders and underwriters, each of which prior to disclosure must be bound by written or legally enforceable professional ethical obligations of
confidentiality and non-use of substantially equivalent or greater scope and duration than those set forth in this Section 11.1 and (a) its and their employees, consultants,
agents, and advisors, on a need to know basis, each of whom prior to disclosure must be bound by written obligations of confidentiality and non-use of substantially equivalent or greater scope and duration
than those set forth in this Section 11.1, and (b) its and their accountants and lawyers, on a need to know basis, each of 

  
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whom prior to disclosure must be bound by written or legally enforceable professional ethical obligations of confidentiality and non-use of substantially
equivalent or greater scope and duration than those set forth in this Section 11.1; provided that the disclosure to prospective or actual licensees (and the related persons noted in the foregoing clauses (a) and (b))
is limited to such Confidential Information of Licensee as is reasonably necessary for such prospective or actual licensee to conduct technical or legal due diligence or exercise its rights under the license granted or proposed to be granted under
the Patent Rights to such actual or prospective licensee by Harvard; provided, further, that financial terms will not be included in any such disclosure to prospective or actual licensees that are not a Sublicensee coming into a direct license as
provided for in this Agreement. 
 11.2 Preference for United States Industry. During the period of exclusivity of this license in the
United States, Licensee shall comply with 37 C.F.R. § 401.14 (i) or any successor rule or regulation. 
 11.3 No Security
Interest. Licensee shall not enter into any agreement under which Licensee grants to or otherwise creates in any third party a security interest in this Agreement or any of the rights granted to Licensee herein. Any grant or creation of a
security interest purported or attempted to be made in violation of the terms of this Section 11.3 shall be null and void and of no legal effect. 

11.4 Use of Name. Except as provided below, Licensee shall not, and shall ensure that its Affiliates and Sublicensees shall not, use or
register the name “Harvard” (alone or as part of another name) or any logos, seals, insignia or other words, names, symbols or devices that identify Harvard or any Harvard school, unit, division or affiliate (“Harvard
Names”) for any purpose except with the prior written approval of, and in accordance with restrictions required by, Harvard. Without limiting the foregoing, Licensee shall, and shall ensure that its Affiliates and Sublicensees shall, cease
all use of Harvard Names on the termination or expiration of this Agreement except as otherwise approved by Harvard. This restriction shall not apply to any information required by Law to be disclosed to any governmental entity. Licensee shall not
use or register the name “Howard Hughes Medical Institute” or any variation, adaptation, or abbreviation thereof (alone or as part of another name) or any logos, seals, insignia or other words, names, symbols or devices that identify HHMI
or any unit of HHMI (“HHMI Names”) or of any HHMI employee (including Dr. David Liu) in a manner that reasonably could constitute an endorsement of a commercial product or service; but that use for other purposes, even if
commercially motivated, is permitted provided that (1) the use is limited to accurately reporting factual events or occurrences, and (2) any reference to an HHMI Name or any HHMI employees (including Dr. David Liu) in press releases
or similar materials intended for public release is approved by HHMI in advance. 
 11.5 Entire Agreement. This Agreement is the sole
agreement with respect to the subject matter hereof and except as expressly set forth herein, supersedes all other agreements and understandings between the parties with respect to the same. 

  
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 11.6 Notices. Unless otherwise specifically provided, all notices required or
permitted by this Agreement shall be in writing and may be delivered personally, or may be sent by e-mail, expedited delivery or certified mail, return receipt requested, to the following addresses, unless the
parties are subsequently notified of any change of address in accordance with this Section 11.6: 
  

			
	If to Licensee (other than invoices):	  	 Beam Therapeutics
 c/o F-Prime Capital
 1 Main Street 13th Floor

Cambridge, MA 02142
 Email: [**]

Attn.: CEO
  

With required email copies to each of:
 [**] and

[**]

		
	If to Licensee (invoices only):	  	Same as above until updated by Licensee by written notice as per this Section.
		
	If to Harvard:	  	 Office of Technology Development
 Harvard
University
 Richard A. and Susan F. Smith Campus Center, Suite 727

1350 Massachusetts Avenue
 Cambridge, Massachusetts 02138

Email: [**]
  

Attn.: [**]

 Any notice shall be deemed to have been received as follows: (a) by personal delivery or expedited
delivery, upon receipt; (b) by e-mail, upon transmission and electronic confirmation of delivery; (c) by certified mail, as evidenced by the return receipt. If notice is sent by e-mail, a confirming copy of the same shall be sent by mail to the same address. 
 11.7 Dispute
Resolution. If any dispute between the parties arises out of or relates to this Agreement (a “Dispute”), either party by written notice to the other party may have such issue referred for resolution to the Chief Executive
Officer of Licensee, and the Chief Technology Development Officer of Harvard (collectively, the “Executive Officers”). The Executive Officers shall meet promptly to discuss the matter submitted and to determine a resolution. If the
Executive Officers are unable to resolve the Dispute within [**] days after it is referred to them, then the parties may pursue all other rights and remedies available to them under this Agreement, including the right to terminate this Agreement,
and the matter may be brought by a party as a Suit in a court of competent jurisdiction in accordance with Section 11.8. 

  
 58 

 11.8 Governing Law and Jurisdiction. This Agreement will be governed by, and
construed in accordance with, the substantive laws of the Commonwealth of Massachusetts, without giving effect to any choice or conflict of law provision, except that questions affecting the construction and effect of any patent shall be determined
by the law of the country in which the patent shall have been granted. Any action, suit or other proceeding arising under or relating to this Agreement (a “Suit”) shall be brought in a court of competent jurisdiction in the
Commonwealth of Massachusetts, and the parties hereby consent to the sole jurisdiction of the state and federal courts sitting in the Commonwealth of Massachusetts. Each party agrees not to raise any objection at any time to the laying or
maintaining of the venue of any Suit in any of the specified courts, irrevocably waives any claim that Suit has been brought in any inconvenient forum and further irrevocably waives the right to object, with respect to any Suit, that such court does
not have any jurisdiction over such party. 
 11.9 Binding Effect. This Agreement shall be binding upon and inure to the benefit of
the parties and their respective legal representatives, successors and permitted assigns. 
 11.10 Headings. Section and subsection
headings are inserted for convenience of reference only and do not form a part of this Agreement. 
 11.11 Counterparts. The parties
may execute this Agreement in two or more counterparts, each of which shall be deemed an original, but both of which together shall constitute one and the same instrument. Transmission by facsimile or electronic mail of an executed counterpart of
this Agreement shall be deemed to constitute due and sufficient delivery of such counterpart. If by electronic mail, the executed Agreement must be delivered in a .pdf format. 

11.12 Amendment; Waiver. This Agreement may be amended, modified, superseded or canceled, and any of the terms may be waived, only by a
written instrument executed by each party or, in the case of waiver, by the party waiving compliance. The delay or failure of either party at any time or times to require performance of any provisions hereof shall in no manner affect the rights at a
later time to enforce the same. No waiver by either party of any condition or of the breach of any term contained in this Agreement, whether by conduct, or otherwise, in any one or more instances, shall be deemed to be, or considered as, a further
or continuing waiver of any such condition or of the breach of such term or any other term of this Agreement. 
 11.13 No Agency or
Partnership. Nothing contained in this Agreement shall give either party the right to bind the other, or be deemed to constitute either party as agent for or partner of the other or any third party. 

11.14 Assignment and Successors. This Agreement may not be assigned by either Party without the consent of the other Party, which
consent shall not be unreasonably withheld, except that each Party may, without such consent, assign this Agreement and the rights, obligations and interests of such Party to any purchaser of all or substantially all of its assets or all of its
equity, or to any successor corporation resulting from any merger or consolidation of such Party with or into such corporation; provided, in each case, the assignee agrees in writing to be bound by the

  
 59 

 
terms of this Agreement and, if the Licensee is the assignor, specifically agrees to be bound by the obligations to HHMI set forth in this Agreement, and a copy of such writing is provided to the
other Party within [**] business days after such assignment. Any assignment purported or attempted to be made in violation of the terms of this Section 11.14 shall be null and void and of no legal effect. 

11.15 Force Majeure. Except for monetary obligations hereunder, neither party will be responsible for delays resulting from causes
beyond the reasonable control of such party, including fire, explosion, flood, war, strike, or riot, provided that the nonperforming party uses commercially reasonable efforts to avoid or remove such causes of nonperformance and continues
performance under this Agreement with reasonable dispatch whenever such causes are removed. 
 11.16 Interpretation. Each party hereto
acknowledges and agrees that: (a) it and/or its counsel reviewed and negotiated the terms and provisions of this Agreement and has contributed to its revision; (b) the rule of construction to the effect that any ambiguities are resolved
against the drafting party shall not be employed in the interpretation of this Agreement; (c) the terms and provisions of this Agreement shall be construed fairly as to both parties hereto and not in favor of or against either party, regardless
of which party was generally responsible for the preparation of this Agreement; and (d) the use of “include,” “includes,” or “including” herein shall not be limiting and “or”
shall not be exclusive. 
 11.17 Severability. If any provision of this Agreement is or becomes invalid or is ruled invalid by any
court of competent jurisdiction or is deemed unenforceable, or interferes with the enforceability of any Patent Right, it is the intention of the parties that such provision shall be null and void and deemed excised from this Agreement and the
remainder of this Agreement shall not be affected. 
 11.18 Publicity. Notwithstanding the terms of
Section 11.4 above (Use of Name), the Parties hereby agree to issue a mutually-acceptable press release announcing the execution of this Agreement, within [**] days following the Effective Date; provided, however, that Beam
may extend such [**] day period one time for an additional [**] days upon advance written notice to Harvard if Beam has a good faith belief that premature disclosure of the existence of this Agreement would be detrimental to the business or affairs
of Beam in light of then ongoing negotiations with a third party(ies) regarding a license(s) or strategic transaction(s), and the Parties may extend such period by additional [**]-day increments by mutual
written consent. Beam shall provide Harvard with a written summary of the basis for such belief with any such notice. Each Party agrees that it will not issue a press release or other public statement relating to this Agreement or the relationship
of the Parties without obtaining the prior written approval of the other Party. Any use of HHMI Names or the name of any HHMI employee (including Dr. David Liu) in any press release or public statement must be approved by HHMI in advance.
Permission shall not be required to repeat information that has already been publicly released. 

  
 60 

 11.19 HHMI Third Party Beneficiary. HHMI is not a party to this Agreement and has no
liability to Licensee or any licensee, sublicensee, or user of anything covered by this Agreement, but HHMI is an intended third-party beneficiary of this Agreement and certain of its provisions are for the benefit of HHMI and are enforceable by
HHMI in its own name. 
 [Remainder of Page Intentionally Left Blank] 

  
 61 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
duly authorized representatives as of the date first written above. 
  

							
	President and Fellows of Harvard College	  	Beam Therapeutics, Inc.
				
	By:	  	 /s/ Jordan B. Grant
	  	By:	  	 /s/ John Evans

	Name:	  	Jordan B. Grant	  	Name:	  	John Evans
	Title:	  	Director of Technology Transactions	  	Title:	  	CEO
		  	Office of Technology Department	  		  	
		  	Harvard University	  		  	

  
 62 

 Exhibit 3.1.1 

[**] 

  
 63 

 Exhibit 4.1 

Form of Subscription Agreement 

SUBSCRIPTION AGREEMENT 

This Subscription Agreement (the “Agreement”) is made and entered into as of [_________], 2017, by and between Beam
Therapeutics Inc., a Delaware corporation (the “Company”) and President and Fellows of Harvard College (the “Purchaser”). 

WHEREAS, on the terms and subject to the conditions set forth herein, the Purchaser desires to subscribe for and purchase, and the
Company proposes to sell to the Purchaser, [______] shares (the “Shares”) of the Company’s Common Stock, par value $0.01 per share (the “Common Stock”), as partial payment for the licenses and other rights
granted to the Company by the Purchaser, pursuant to Section [    ] of that certain License Agreement, by and between the Company and the Purchaser, dated as of [__________], 2017 (the “License
Agreement”). 
 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and obligations hereinafter
set forth and of other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

1. Purchase And Sale Of Shares. 

1.1. Purchase and Sale of Shares. Subject to the terms and conditions set forth herein, upon the execution hereof, the Company shall
sell to the Purchaser, and the Purchaser shall purchase from the Company, the Shares as consideration for the licenses and other rights granted to the Company by the Purchaser pursuant to the License Agreement. 

1.2. Delivery of Certificates Representing Purchased Shares. The Company shall deliver to the Purchaser a certificate in the name of the
Purchaser representing the Shares purchased by the Purchaser. 
 1.3. Delivery of Joinder Agreements. The Purchaser shall deliver to
the Company a joinder signature page to that certain Voting Agreement, by and among the Company and the parties set forth therein, dated on or about the date hereof, in substantially the form attached hereto as Exhibit
A-1, and that certain Right of First Refusal and Co-Sale Agreement, by and among the Company and the parties set forth therein, dated on or about the date hereof, in
substantially the form attached hereto as Exhibit A-2. 
 2. Representations and Warranties of the
Purchaser. The Purchaser hereby represents and warrants as of the date hereof to the Company as follows: 
 2.1. Investment
Representation. Such Purchaser is an “accredited investor” under Regulation D of the U.S. Securities Act of 1933, as amended (the “Securities Act”). Such Purchaser is aware that the Shares have not been registered
under the Securities Act, or qualified under any state securities laws. The Shares are being acquired for investment purposes only and not for sale or with a view to distribution of all or any part thereof in violation of the securities laws. 

  
 64 

 2.2. Access to Information. Such Purchaser has had an opportunity to ask questions
and receive answers from the Company regarding the terms and conditions of its purchase of the Shares and regarding the business, financial affairs and other aspects of the Company, and it has further had the opportunity to obtain any information
(to the extent the Company possesses or can acquire such information without unreasonable effort or expense) which it deems necessary to evaluate its investment or to verify the accuracy of information otherwise provided to it. 

2.3. Restricted Securities. Such Purchaser understands that the Shares will be characterized as “restricted securities” under
the Securities Act and that under such laws and applicable regulations, the Shares may be resold without registration under the Securities Act only in certain limited circumstances, and that otherwise the Shares must be held indefinitely. Such
Purchaser further represents that it is familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and the conditions which must be met in order for Rule 144 to be available for resale of “restricted securities,”
and understands the resale limitations imposed by the Securities Act. 
 2.4. Authority. Such Purchaser has authority to execute and
deliver this Agreement and to perform its obligations hereunder. This Agreement has been duly and validly executed and delivered by such Purchaser and (assuming the due authorization, execution and delivery by the Company) constitutes the legal,
valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms. 
 2.5. Organization.
Such Purchaser is duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation. 
 3. Representations and
Warranties of the Company. The Company represents and warrants as of the date hereof to the Purchaser as follows: 
 3.1.
Authorization. The Company has all requisite corporate power and authority to execute and deliver this Agreement, sell the Shares and otherwise perform its obligations hereunder. The execution, delivery and performance of this Agreement and
the consummation by the Company of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action. This Agreement has been duly and validly executed and delivered by the Company and (assuming the due
authorization, execution and delivery by the Purchaser) this Agreement constitutes the legal, valid and binding obligation of the Company, enforceable against it in accordance with its terms. 

3.2. Organization. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of
Delaware. 
 3.3. Capitalization. The authorized capital stock of the Company immediately prior to consummation of the transactions
contemplated by this Agreement consists solely of [_______] shares of Common Stock, of which [________] shares are issued and outstanding, and [__________] shares of Preferred Stock of which [__________] shares are issued and outstanding. 

  
 65 

 3.4. All currently issued and outstanding shares of Company capital stock are duly
authorized, validly issued, fully paid, non-assessable and free of all preemptive rights. The Shares, when issued to the Purchaser under this Agreement, will be duly authorized, validly issued, fully paid, non-assessable and free of all preemptive rights. 
 4. Preemptive Rights. 

4.1. Subject to the terms and conditions of this Section 4 and applicable securities laws, if the Company proposes to offer or sell any
New Securities after the Financing Threshold (as defined in the License Agreement) has been achieved, the Purchaser shall have the right to purchase from the Company that portion of such New Securities as equals the proportion that the Common Stock
then held by the Purchaser (including all shares of Common Stock then issuable upon conversion and/or exercise, as applicable, of Preferred Stock and any other equity securities then held by the Purchaser) bears to the total Common Stock of Licensee
then outstanding on a Fully-Diluted Basis (as defined in the License Agreement). Following notice by the Company to the Purchaser, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to
be offered in aggregate and the corresponding number the Purchaser has the right to purchase, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities, the Purchaser may elect to purchase or otherwise acquire,
at the price and on the terms specified in the notice, up to that portion of such New Securities eligible for purchase by the Purchaser by notification to the Company within twenty (20) days after the offer notice is given. The Company may
elect to give notice to the Purchaser in advance of or within thirty (30) days following the issuance of New Securities. 
 4.2.
“New Securities” shall mean, collectively, equity securities of the Company, whether or not currently authorized, but shall not include (a) Exempted Issuances (as defined in the License Agreement), (b) shares of common stock
issued or issuable, and options, warrants or other rights to purchase Common Stock issued or issuable to Licensee’s employees, consultants, officers, directors, or advisors as part of an incentive compensation arrangement or to Licensee’s
former employees, consultants, officers, directors, or advisors as part of a settlement of any dispute regarding incentive compensation arrangements, (c) shares of Common Stock issued or issuable to banks, equipment lessors, real property
lessors, financial institutions or other persons engaged in the business of making loans pursuant to a debt financing, commercial leasing or real property leasing transaction, or (d) shares of Common Stock issued or issuable in connection with
any settlement of any action, suit, proceeding or litigation. 
 4.3. The Purchaser may not assign the rights set forth pursuant to this
Section 4 without the consent of the Company to any third party other than Osage or a holder of the Preferred Stock of the Company; provided, however, that the Purchaser may assign the foregoing right without the consent of the Company to any
third party other than Osage or a holder of the preferred stock of Licensee provided that in each such case, the Purchaser notifies the Company in writing in connection with the transfer of such rights. 

  
 66 

 4.4. The preemptive rights in this Section 4 shall not be applicable to
(i) Exempted Securities (as defined in the Company’s Certificate of Incorporation, as it may be amended and/or restated from time to time); or (ii) shares of Common Stock issued in a public offering. 

4.5. The covenants set forth in this Section 4 shall terminate and be of no further force or effect upon the earliest to occur of
(i) immediately before the consummation of the Company’s first underwritten public offering of securities, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the
Exchange Act, (iii) upon a Deemed Liquidation Event (as defined in the Company’s Certificate of Incorporation, as it may be amended and/or restated from time to time), or (iv) upon the termination of the License Agreement. 

5. Miscellaneous. 
 5.1.
Governing Law. This Agreement and all matters arising hereunder shall be governed by and construed under the laws of the State of Delaware, without regard to its conflicts of law rules or provisions. 

5.2. Severability. If any provision of this Agreement or the application of such provision to any person or circumstance shall be held
by a court of competent jurisdiction to be invalid, illegal, or unenforceable under the applicable law of any jurisdiction, (i) the remainder of this Agreement or the application of such provisions to other persons or circumstances or in other
jurisdictions shall not be affected thereby, (ii) such invalid, illegal, or unenforceable provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such law, and
(iii) such invalid, illegal, or unenforceable provision shall not affect the validity or enforceability of any other provision of this Agreement. 

5.3. Counterparts. This Agreement may be executed in one or more counterparts, each of which when so executed and delivered shall be
deemed an original, and all of which when taken together shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature. 

5.4. Entire Agreement; Survival. This Agreement constitutes the entire agreement of the parties hereto in respect of the subject matter
hereof and thereof, and supersedes any and all prior agreements or understandings between the parties hereto in respect of such subject matter. Either party’s failure to enforce any provision or provisions of this Agreement shall not in any way
be construed as a waiver of any such provision or provisions, nor prevent that party thereafter from enforcing each and every other provision of this Agreement. The rights granted both parties herein are cumulative and shall not constitute a waiver
of either party’s right to assert all other legal remedies available to it under the circumstances. The representations and warranties of the parties contained in this Agreement shall survive the execution and delivery of this Agreement and the
consummation of the transactions contemplated by this Agreement. 
 [Reminder of Page Intentionally left Blank] 

  
 67 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed, all
as of the date first written above. 
  

			
	BEAM THERAPEUTICS INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	PRESIDENT AND FELLOWS OF HARVARD COLLEGE
		
	By:	 	  

		 	Name:
		 	Title:

  
 68 

 Exhibit 4.4.5 

Arbitration for Combination Products 
  

	1.	 If Harvard and Licensee do not agree within [**] days upon the allocation based on the relative contribution of
value of the Licensed Product and the Other Active Component(s) in a combination product as provided in Section 4.4.5, then either party may refer such disagreement (an “Allocation Dispute”) for resolution
by arbitration in accordance with the terms of this Exhibit 4.4.5. 

  

	2.	 If a party desires to pursue resolution of the Allocation Dispute, then the Allocation Dispute shall be
submitted by either party for resolution in arbitration pursuant to the then current CPR Non-Administered Arbitration Rides (“CPR Rules”) (www.cpradr.org), except where
they conflict with the provisions of this Exhibit 4.4.5, in which case these provisions control. The arbitration will be held in Boston, Massachusetts. All aspects of the arbitration shall be treated as confidential. 

 

	3.	 The arbitrators will be chosen from the CPR Panel of Distinguished Neutrals, unless a candidate not on such
panel is approved by both parties in writing. Each arbitrator shall be an attorney (active or retired) admitted to practice in a state of the United States with at least fifteen (15) years’ experience with a law firm or corporate law
department of over twenty-five (25) lawyers, with substantial experience in negotiating or litigating complex transactions in the biopharmaceutical industry. 

 

	4.	 The arbitration tribunal shall consist of three (3) arbitrators (each having the qualifications referred
to in Paragraph 3 above), of whom each party shall designate one in accordance with the “screened” appointment procedure provided in CPR Rule 5.4. The chair will be chosen in accordance with CPR Rule 6.4. If, however, the parties in their
discretions agree, the arbitration tribunal may consist of a single arbitrator (having the qualifications referred to in Paragraph 3 above) chosen in accordance with the CPR Rules. Candidates for the arbitrator position(s) may be interviewed by
representatives of the Parties in advance of their selection, provided that both parties are represented. 

  

	5.	 The parties agree to select the arbitrator(s) within [**] days after initiation of the arbitration. The hearing
will be concluded within [**] days after selection of the arbitrator(s), and the determination (as provided in Paragraph 8 below) will be rendered within [**] days after the conclusion of the hearing, or of any post-hearing briefing, which briefing
will be completed by both sides within [**] days after the conclusion of the hearing. In the event the parties cannot agree upon a schedule, then the arbitrator(s) shall set the schedule following the time limits set forth above as closely as
practical. 

  

	6.	 The hearing will be concluded in [**] hearing days or less. Multiple hearing days will be scheduled
consecutively to the greatest extent possible. A transcript of the hearing shall be made and shall be made available to the arbitrator(s) and each party. 

  
 69 

	7.	 The arbitrator(s) shall be guided, but not bound, by the then current CPR Protocol on Disclosure of
Documents and Presentation of Witnesses in Commercial Arbitration (www.cpradr.org) (“Protocol”). The parties will attempt to agree on modes of document disclosure, electronic discovery, witness presentation, etc. within
the parameters of the Protocol. If the parties cannot agree on discovery and presentation issues, the arbitrator(s) shall decide on presentation modes and provide for discovery guided by the Protocol, understanding that the parties contemplate
reasonable discovery. 

  

	8.	 The arbitrator(s) shall determine the fraction, C/C+D, by which total Net Sales of a combination product that
is the subject of the Allocation Dispute shall be multiplied (as contemplated under Section 4.4.5) in a country during the applicable royalty reporting period prior to calculation of the royalty to Harvard, where C is the
relative contribution of value of the Licensed Product in such combination product and D is the relative contribution of value of the Other Active Components in such combination product. The arbitrator(s) shall decide the merits of any Allocation
Dispute in accordance with the laws of the Commonwealth of Massachusetts, without application of any principle of conflict of laws that would result in reference to a different law. The arbitrator(s) may not apply principles such as “amiable
compositeur” or “natural justice and equity.” 

  

	9.	 The arbitrator(s) are expressly empowered to decide dispositive motions in advance of any hearing and shall
endeavor to decide such motions as would a United States District Court Judge located in the District of Massachusetts. A determination shall be entered if a dispositive motion is granted that fully resolves the Allocation Dispute.

  

	10.	 The arbitrator(s) shall render a written opinion stating the reasons upon which the determination is based. The
parties irrevocably consent to the jurisdiction of any and all state and federal courts sitting in the Commonwealth of Massachusetts for the enforcement of the provisions of this Exhibit 4.4.5. Any other court with jurisdiction may act in the
same fashion. 

  

	11.	 Rule 14 of the CPR Rules does not apply to this Agreement. 

 

	12.	 The parties shall share equally the cost of the arbitration by the arbitrator(s), and each party shall bear its
own costs and attorneys’ fees associated with the arbitration. 

  
 70 

 Exhibit 4.7 

Success Payments 
 1.
Definitions. Capitalized terms used in this Exhibit that are not otherwise defined in the Agreement to which this Exhibit is attached shall have the following meanings: 

1.1. “Affiliate” means, with respect to a person, organization or entity, any person, organization or entity controlling,
controlled by or under common control with, such person, organization or entity. For purposes of this definition only, “control” of another person, organization or entity will mean the possession, directly or indirectly, of the power to
direct or cause the direction of the activities, management or policies of such person, organization or entity, whether through the ownership of voting securities, by contract or otherwise. Without limiting the foregoing, control will be presumed to
exist when a person, organization or entity (a) owns or directly controls fifty percent (50%) or more of the outstanding voting stock or other ownership interest of the other organization or entity or (b) possesses, directly or indirectly,
the power to elect or appoint fifty percent (50%) or more of the members of the governing body of the other organization or entity. The parties acknowledge that in the case of certain entities organized under the laws of certain countries outside of
the United States, the maximum percentage ownership permitted by law for a foreign investor may be less than fifty percent (50%), and that in such cases such lower percentage will be substituted in the preceding sentence. 

1.2. “Fair Market Value” [**]. 

1.3. “Multiple of Initial Equity” [**]. 

1.4. [**] 
 1.5. “Success
Payment Amount” means the positive difference, if any between (A) the amount (in millions) set forth in the table in Section 2 of this Exhibit 4.7 set forth opposite the greatest Trigger Value that the
Multiple of Initial Equity as of the [**] meets or exceeds, less (B) all payments that had previously been paid or become payable to Harvard in accordance with Section 2 on a prior [**]. 

1.6. “Success Payment Date” means (i) with respect to any Success Payment arising as a result of an [**], each such [**]
(plus a [**] grace period at Licensee’s option if Licensee is contemplating capital market transactions during the grace period such as a follow-on offering, provided that no grace period shall be
available to Licensee as a result of a secondary offering with no primary offering component), (ii) with respect to any Success Payment arising as a result of a [**], the earlier of (a) the date on which any proceeds from the Licensee Sale are
paid or distributed to any stockholder and (b) the date that is [**] days after the [**], (iii) with respect to any Success Payment arising as a result of a [**], the date that is [**] days after the [**] pursuant to which such Success Payment
obligation arises, and (iv) with respect to any other Success Payment, the date that is the [**] pursuant to which such Success Payment obligation arises. 

1.7. [**] 

  
 71 

 1.8. “Success Payment Value” means, with respect to each share of [**] and
as of any [**], the aggregate of (i) all dividends and other distributions (including the fair market value of non-cash distributions) made to the holders of [**] with respect to each such share on or
before the [**] and (ii) the Fair Market Value of each such share of [**] (excluding any dividends and other distributions included under the foregoing clause (i)) as of such [**]. 

1.9. [**] 
 2. Success
Payments. [**]. If the Multiple of Initial Equity as determined with respect to such [**] is equal to or exceeds any of the values of the Multiple of Initial Equity set forth in the table below (the “Trigger Values”),
Licensee shall notify Harvard within [**] calendar days of such [**] and pay to Harvard a payment equal to the Success Payment Amount. Such Success Payment Amount shall payable within [**] days of the Success Payment Date with respect to such
Success Payment Amount, in cash or cash equivalents or, in the Licensee’s sole discretion, in publicly tradable shares of the Licensee’s common stock, or any combination thereof. 

 

			
	 [**]
	  	Success Payment (U.S. Dollars)
	 [**]
	  	Five Million Dollars ($5,000,000)
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	One Hundred Five Million Dollars ($105,000,000)

 Notwithstanding any termination of the [**], Licensee’s obligation to pay the Success Payment Amount earned with respect
to a transaction (taking account of all payments received under such transaction, including post-closing payments), shall survive such termination of the [**] until such payment has actually been made in full. Furthermore, notwithstanding any
termination of the [**] or any other provision to the contrary herein, any post-closing payments will be aggregated with all prior payments made at the closing of the applicable transaction for purposes of determining the Success Payment Value and
any Success Payment Amount due, with the Success Payment Value and the Success Payment Amount being recalculated as post-closing payments are received, and giving such post-closing payment the same weight in the calculation of the Success Payment
Amount as payments that had already been received pursuant to the transaction as of its [**]. 
 For purposes of this Section 2 of
this Exhibit 4.7 (and the other provisions of this Section 2 to the extent necessary for the application or interpretation of the terms of this Section 2), the term “Licensee” shall include the
term “Acquirer.” 

  
 72 

 3. Fair Market Value. The Fair Market Value with respect to each share of [**] as of any [**]
shall be determined as follows: 
 3.1. With respect to any Success Payment arising as a result of the [**], the “Fair Market
Value” will be the average of the closing trading prices of a share of the common stock of Licensee over the consecutive [**] period ending on the applicable [**]. 

3.2. With respect to any [**] in which the sole consideration received for each share of [**] is cash, the “Fair Market Value”
will be the cash received for each share of [**]. 
 3.3. With respect to any [**] in which the consideration received for each share of [**]
is other than solely cash, then the “Fair Market Value” shall be the cash, marketable securities, or other property received for each share of the Licensee’s [**] in such transaction, determined as set forth below and in
accordance with the Fair Market Value Methodology (as defined in Section 4.5 of this Exhibit 4.7). 
 4. Notice of and
Objection to Fair Market Value. 
 4.1. Within [**] calendar days of the [**], Licensee shall deliver to Harvard a proposed Fair
Market Value by written notice (the “Licensee Notice”), which notice shall include a description of the method used to calculate, and the details of the calculation of, such Fair Market Value. If Harvard does not object to such
written notice by delivering written notice to Licensee of Harvard’s objection within [**] calendar days (an “Objection Notice”), the Fair Market Value shall be the Fair Market Value proposed in such Licensee Notice. Within
[**] calendar days of the delivery of such Objection Notice (the end of such [**] calendar day period being the “Trigger Date”), each of Harvard and Licensee shall consult with each other and attempt in good faith to agree upon a
Fair Market Value with the Fair Market Value being the price so agreed in writing if agreement is reached within such time period. 
 4.2. If
Harvard and Licensee fail to mutually agree on a Fair Market Value by the Trigger Date, then a person(s) selected in accordance with the provisions of Section 4.4 of this Exhibit 4.7, to act as an expert and not as
an arbitrator (the “Valuation Expert”), at the expense of each of Harvard and Licensee in equal proportions, for the purpose of making the determination referred to here, with such Valuation Expert instructed to determine its
independent estimate of the Fair Market Value (the “Valuation Expert’s Estimate”) in accordance with the Fair Market Value Methodology within [**] calendar days after being appointed (it being understood that neither Party
shall provide the Valuation Expert with its respective Fair Market Value Notices nor disclose to such Valuation Expert the contents thereof and that the Parties shall make available to such Valuation Expert access on a confidential basis to such
books, accounts, records and forecasts as reasonably requested and believed to be necessary to determine the Fair Market Value). 
 4.3. The
Fair Market Value shall then conclusively be deemed to equal the Valuation Expert’s Estimate, and such value shall be final and binding on the Parties hereto (it being understood that for the avoidance of doubt no Party shall be able to contest
the Valuation Expert’s Estimate based on any claim of non-adherence to the Fair Market Value Methodology). 

  
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 4.4. If Licensee and Harvard fail to mutually agree on a Valuation Expert within [**]
calendar days of the Trigger Date, each of Licensee and Harvard shall, within [**] calendar days thereafter, appoint two independent public accountants (that shall each not be an Affiliate or service provider of any of Licensee or its Affiliates or
Harvard at the time of arbitration), who shall try to mutually agree on a third party Valuation Expert. If such independent public accountants fail to mutually agree on such Valuation Expert within [**] calendar days from appointment, each of such
independent public accountants shall appoint two additional independent public accountants within [**] calendar days, and the Valuation Expert will be selected from among the four (4) independent public accountants by drawing lots. The Success
Payment Date will be extended by up to [**] calendar days if necessary to complete the process of designation of the Valuation Expert. 

4.5. All Fair Market Value determinations set forth in any Fair Market Value Notice pursuant to this Exhibit 4.7 and all valuations
estimated and/or determined by the Valuation Expert must adhere to the following requirements (the “Fair Market Value Methodology”): 

4.5.1. subject to the below, be in accordance with industry standard valuation methodologies including but not limited to revenues,
price-earnings ratio, free cash flow, EBITDA multiples or other appropriate metrics; 
 4.5.2. be, subject to Section 4.5.3 of this
Exhibit 4.7, based on the actual historical results of the operations of Licensee as reflected on its audited and unaudited financial statements and reasonable forecasts of up to five (5) years assuming ordinary course of operations of
Licensee consistent with past practice unless Licensee’s results of operations show a loss for any portion of such period; 
 4.5.3. and
for the avoidance of doubt, specifically, take into full account the working capital balances of Licensee and assume that any financial indebtedness or negative working capital balances of Licensee are paid off or offset in full with available cash
(with the consequences or repayment or failure to offset with available cash transferred reflected as a degradation to the Fair Market Value). 

  
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