Document:

EX-10.6

 Exhibit 10.6 

CONFIDENTIAL TREATMENT REQUESTED 

CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. INFORMATION THAT WAS
OMITTED IN THE EDGAR VERSION HAS BEEN NOTED IN THIS DOCUMENT WITH A PLACEHOLDER IDENTIFIED BY THE MARK “[*].” 
 CONFIDENTIAL

 EXECUTION COPY 
 JOINT
DEVELOPMENT & LICENSE AGREEMENT 
 This Joint Development and License Agreement (this “Agreement”) is made as
of the 31st day of December 2012 (the “Effective Date”), by and between Pfenex, Inc., a Delaware corporation with a principal place of business located at 10790 Roselle Street,
San Diego, CA 92121 (“Pfenex”), and Agila Biotech Private Limited, company incorporated under the Companies Act, 1956 and having its registered office at Strides House, Bilekahalli, Bannerghatta Road, Bangalore 560 076, India
(“Agila”). Pfenex and Agila may be referred to individually as a “Party” or together as the “Parties.” 

BACKGROUND 
 A. Pfenex has a
proprietary Pseudomonas fluorescens protein expression platform (as further defined below as the “Pfenex Expression Technology”), which is used to increase yield, accelerate the development and production of biotherapeutics
and vaccines; 
 B. Agila is engaged in the business of manufacturing and supplying therapeutic biological products for research and development and
commercial purposes; 
 C. Pfenex and Agila desire to collaborate with each other, to develop certain therapeutic biological products manufactured using the
Pfenex Expression Technology through the completion of the first Phase I Clinical Trial (as defined below) for each such product in accordance with the terms and conditions of this Agreement; 

D. Pfenex and Agila wish to establish a joint venture company (the “JVC”) to further develop and commercialize one or more such products
after the completion of the first Phase I Clinical Trial pursuant to a separate Joint Venture Agreement to be entered into by the Parties (the “JVA”) as set forth in Section 3.8; and 

E. Upon successful completion of the first Phase I Clinical Trial in the Territory for such a product and the JVC’s receipt of all necessary Consents,
business licenses and governmental approvals, and contingent upon the Parties’ agreement on a plan and budget for the further development and commercialization of such product, such product and all associated data, rights and assets will be
transferred to the JVC and the JVC will continue the development and commercialization of such product as further provided in the JVA. 
 NOW, THEREFORE, in
consideration of the mutual covenants and promises herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Parties, the Parties agree as follows: 

Article 1 
 DEFINITIONS

 1.1 “Act” means the Drugs and Cosmetics Act, 1940. 

1.2 “Affiliate” means, with respect to a Party, any Person controlling, controlled by or under common control with such
Party, for so long as such control exists. For 

  
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the purposes of this definition, “control” means: (a) to possess, directly or indirectly, the power to direct the management and policies of such Person, whether through ownership
of voting securities or by contract relating to voting rights or corporate governance; or (b) ownership of more than fifty percent (50%) of the voting securities in such Person (or such lesser percent as may be the maximum that may be
owned pursuant to Applicable Laws of the country of incorporation or domicile, as applicable). For clarity, for purposes of this Agreement, the JVC shall not be deemed an Affiliate of either Party. 

1.3 “Analytical Methods” means, with respect to a Collaboration Product, a comprehensive set of analytical methods used to
test the quality of in-process, bulk drug substance(s) and drug product(s) for the applicable Collaboration Product. 
 1.4
“Applicable Laws” means any laws, statutes, rules, regulations, guidelines, and standards promulgated by any governmental authority of competent jurisdiction applicable to the Parties or the activities contemplated hereunder,
together with any judgments, orders, notices, instructions, decisions, standards, guidance and awards, each having the force of law, issued by a court or competent authority or tribunal or a Regulatory Authority to which the applicable Party is
subject, including, as applicable, GCP, GLP, GMP, the Act and the Rules. 
 1.5 “Background Technology” means, with respect
to a Party, any and all technology, know-how, technical information and other technical subject matter, and all intellectual property rights therein, in each case Controlled by such Party as of the Effective Date or otherwise developed or acquired
by or on behalf of such Party outside the performance of this Agreement, in each case that are necessary for the performance of any Development Plan under this Agreement. For clarity, Pfenex’s Background Technology includes the Pfenex
Expression Technology, including to the extent it is embodied in the Pfenex Materials and Deliverables. 
 1.6 “Collaboration
Product(s)” means, individually and collectively, any product for which the Parties establish and sign a Development Plan pursuant to Section 3.1 for development hereunder, which may include but not limited to: 

(a) Interferon beta-1b as a biosimilar product to the innovator product Betaseron®/Betaferon® from Bayer HealthCare Pharmaceuticals;

 (b) PEGylated Interferon beta-1b; 

(c) PEGylated Granulocyte Colony-Stimulating Factor (PEG-GCSF) as a biosimilar product to the innovator product Neulasta® from Amgen
Inc.; 
 (d) PEGylated L-Asparaginase as a biosimilar product to Oncaspar® from Sigma-Tau Pharmaceuticals Inc.; and 

(e) Human Growth Hormone (HGH) as a biosimilar product to Genotropin® from Pfizer Inc. 

1.7 “Consents” means any consent, license, approval, authorization, waiver, permit, grant, concession, agreement, license,
certificate, exemption, order or registration, of or with any Person. 

  
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 1.8 “Control” means the possession (whether by ownership, license or other
authorization), as of the Effective Date or during the Term, of (a) with respect to materials, data or information, physical possession or the right to such physical possession of those items, and the right to provide them to others (including
the other Party); and (b) with respect to intellectual property rights, the right sufficient to grant the applicable license or sublicense under this Agreement; in each case without violating the terms of any agreement with any Third Party.
Notwithstanding anything to the contrary in this Agreement, the following shall not be deemed to be Controlled by a Party: (i) any materials, data, information or intellectual property owned or licensed by any Acquiring Entity immediately prior
to the effective date of merger, consolidation or transfer, and (ii) any materials, data, information or intellectual property that any Acquiring Entity subsequently develops independently, without accessing or practicing the Pfenex Background
Technology (in the case of an Acquiring Entity of Pfenex) or the Agila Background Technology (in the case of an Acquiring Entity of Agila). For the purpose of this Section 1.8, “Acquiring Entity” means, with respect to a Party,
a Third Party that merges or consolidates with or acquires such Party, or to which such Party transfers all or substantially all of its assets to which this Agreement pertains. “Controlled” has its corollary meaning. 

1.9 “Facility” means (a) each GMP-compliant facility jointly identified by both Parties for manufacturing (including
storing and handling) any Collaboration Product for Phase I Clinical Trials, (b) Agila’s GMP-compliant Pilot Plant located at [*] and (c) Agila’s GMP-compliant manufacturing facility under construction at the [*] (the
“[*] Facility”), only when all applicable testing and validation of such facility has been successfully completed, and all required Consents have been obtained, and such facility is otherwise ready and available for use in
manufacture of Collaboration Products. 
 1.10 “GCP” means the then-current FDA regulations and guidelines for “Good
Clinical Practice,” as promulgated by the FDA under 21 CFR Parts 50, 54, 56 and 312, as amended from time to time, or any foreign equivalents thereto (e.g., ICH Guideline for Good Clinical Practice) in the country in which the applicable Phase
I Clinical Trial is conducted. 
 1.11 “GMP” means the then-current Good Manufacturing Practices pursuant to the U.S. Food,
Drug and Cosmetic Act and any U.S. regulations found in Title 21 of the U.S. Code of Federal Regulations (including Parts 11, 210 and 211 and the provisions of the Act and the Rules) and comparable laws, rules and regulations applicable to the
manufacture, labeling, packaging, handling, storage, supply and transport of any Collaboration Product in any jurisdiction where the applicable Collaboration Product is or may be utilized in humans hereunder. 

1.12 “GLP” means the then-current FDA regulations and guidelines for “Good Laboratory Practice,” as promulgated by
the FDA under Title 21 of the U.S. Code of Federal Regulations Part 58, as amended from time to time, or any foreign equivalents thereto in the country in which research is conducted hereunder. 

1.13 “Manufacturing Process” means, with respect to a Collaboration Product, the process based on the Pfenex Expression
Technology for the production of such Collaboration Product using the associated Manufacturing Strain, as such process may be amended from time to time by the Parties pursuant to Section 5.2 below. 

  
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 1.14 “Manufacturing Strain” means, with respect to a Collaboration Product, a
strain of Pseudomonas fluorescens incorporating a nucleic acid sequence that is optimized to express the protein that is the active ingredient of such Collaboration Product. 

1.15 “Master Cell Bank” means a cell bank produced from the Research Cell Bank for a Collaboration Product that complies with
(a) GMP requirements for cell banks used in the production of biological products for use in humans and (b) the specifications therefor as set forth in the Development Plan for such Collaboration Product, a portion of which is anticipated
to be deposited with a Third Party vendor for storage and preservation and which cell bank may be used in the establishment of the Working Cell Bank for such Collaboration Product. 

1.16 “PEGylation” means the process of covalent attachment of polyethylene glycol (PEG) polymer chains to another molecule.
“PEGylated” shall have its correlative meanings. 
 1.17 “Person” means any individual, corporation,
partnership, limited liability company, trust, business trust, association, joint-stock company, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, government authority or any other form of entity not specifically
listed herein. 
 1.18 “Pfenex Expression Technology” means Pfenex’ proprietary Pseudomonas fluorescens
expression platform technology used in the development and production of biological products, including through the optimization of a nucleic acid sequence and development of the associated manufacturing cell strains to express such product,
together with all intellectual property rights therein. 
 1.19 “Phase I Clinical Trial” means a clinical development
program that provides for the first introduction into humans of a pharmaceutical product with the primary purpose of making a preliminary determination with respect to safety, metabolism and pharmacokinetic properties and clinical pharmacology of
such pharmaceutical product in healthy patients, or otherwise generally consistent with 21 C.F.R. §312.21(a). 
 1.20 “Phase
III Clinical Trial” means any human clinical trial conducted in any country on a sufficient numbers of patients that is designed, if the defined end-points are met, to establish safety and efficacy of a pharmaceutical product in patients
with the indication being studied for purposes of filing a marketing approval application or to otherwise be a pivotal trial for obtaining a marketing approval or label expansion for such pharmaceutical product or otherwise generally consistent with
21 C.F.R. §312.21(c). 
 1.21 “Raw Materials” means, with respect to any Collaboration Product(s), any and all
ingredients, including media, buffers, solvents and other components (excluding the Manufacturing Strain as provided under Section 4.1.1 below) used in the manufacture of such Collaboration Product hereunder in accordance with the Manufacturing
Process and Specifications for such Collaboration Product. 

  
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 1.22 “Regulatory Approval” means all approvals, licenses, clearances,
registrations or authorizations received from any Regulatory Authority in response to a Regulatory Filing together with all necessary approvals by any regulatory advisory board (e.g. institutional review board and ethics committee). 

1.23 “Regulatory Authority” means any federal, national, multinational, state, provincial or local regulatory agency,
department, bureau or other governmental entity with authority over the development, manufacture or other commercialization (including the granting of Regulatory Approvals) of any Collaboration Product in any jurisdiction, including the Drugs
Controller General of India, European Medicines Agency and the United States Food and Drug Administration (“FDA”), in each case, any successor entity thereto. 

1.24 “Regulatory Filings” means any submission made to a Regulatory Authority with respect to a pharmaceutical or medicinal
product, including any application necessary to commence or conduct clinical testing of such product in humans, any submission to a regulatory advisory board with respect to such product, and in each case any supplement or amendment to any of the
foregoing. 
 1.25 “Research Cell Bank” means a non GMP cell bank of the Manufacturing Strain for a Collaboration Product
meeting the specifications therefor as set forth in the Development Plan for such Collaboration Product. 
 1.26 “Rules”
means the Drugs and Cosmetic Rules, 1945. 
 1.27 “Study Results” means any and all data, results and reports from any
preclinical or clinical studies with respect to any Collaboration Product conducted hereunder, including all data, results and reports from each Phase I Clinical Trial conducted hereunder and all interim reports and the final report generated
therefrom. 
 1.28 “Specifications” means, with respect to a Collaboration Product, those specifications, manufacturing
guidelines, control procedures, acceptance criteria, validation protocols, packaging, storage and release requirement or procedures or other similar requirements for the manufacture of such Collaboration Product, as mutually agreed by the Parties
and set forth in the applicable Development Plan. 
 1.29 “Successful Completion” means, with respect to a Phase I Clinical
Trial, the meeting of primary endpoints set forth in the applicable protocol approved by the JSC and the submission of the final trial report to the applicable Regulatory Authority as required under Applicable Law. 

1.30 “Territory” means worldwide. 

1.31 “Third Party” means an entity other than Pfenex, Agila and their respective Affiliates. 

1.32 “Working Cell Bank” means a cell bank of the Manufacturing Strain produced from the Master Cell Bank for a Collaboration
Product that complies with (a) GMP requirements for cell banks used in the production of biological products for use in humans and (b) the specifications therefor as set forth in the Development Plan for such Collaboration Product. 

  
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 1.33 Additional Defined Terms. Each of the following terms shall have the meaning
described in the corresponding section of this Agreement indicated below: 
  

			
	Term	  	Section Defined
	Agila Improvements	  	10.5
	Alliance Manager	  	2.6
	Co-Chair	  	2.2
	Collaboration Technology	  	10.3
	Confidential Information	  	9.1
	Development Plan	  	3.1
	Indemnitee	  	13.3
	Indemnitor	  	13.3
	JSC	  	2.1
	JVA	  	Background
	JVC	  	Background
	Milestone	  	8.1
	Pfenex Improvements	  	10.4
	Pfenex Materials and Deliverables	  	4.1.1
	Plan and Budget	  	3.9
	Prior Confidentiality Agreement	  	9.5
	SIAC	  	14.9.2
	Subcommittee	  	2.7
	Term	  	11.1

 1.34 Interpretation. The captions and headings to this Agreement are for convenience only, and are to
be of no force or effect in construing or interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Articles, Sections or Exhibits means the particular Articles and Sections of or Exhibits to
this Agreement, and references to this Agreement include all Exhibits hereto. Unless context clearly requires otherwise, whenever used in this Agreement: (a) the words “include” or “including” shall be construed as
incorporating, also, “but not limited to” or “without limitation;” (b) the word “or” shall have its inclusive meaning of “and/or;” (c) the word “day” or “quarter” or
“year” means a calendar day or calendar quarter or calendar year unless otherwise specified; (d) the word “notice” shall require notice in writing (whether or not specifically stated) and shall include notices, consents,
approvals and other written communications contemplated under this Agreement; (e) the words “hereof,” “herein,” “hereunder,” “hereby” and derivative or similar words refer to this Agreement (including any
Exhibits); (f) provisions that require that a Party or the Parties hereunder “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in writing, whether by
written agreement, letter or otherwise; (g) words of any gender include the other gender; (h) words using the singular or plural number also include the plural or singular number, respectively; (i) references to any specific law, or
article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement thereof; and (j) provisions that refer to Persons acting “under the authority of Pfenex” shall include
Pfenex’s Affiliates or licensees, as 

  
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applicable, and those Persons acting “under the authority of Agila” shall include Agila’s Affiliates or sublicensees, as applicable; conversely, those Persons acting “under
the authority of Pfenex” shall exclude Agila, its Affiliates and sublicensees, as applicable, and those Persons acting “under the authority of Agila” shall exclude Pfenex, its Affiliates and licensees, as applicable. 

Article 2 
 GOVERNANCE

 2.1 JSC Establishment. Within thirty (30) days of the Effective Date, the Parties agree to establish a joint steering
committee (“JSC”) for the overall coordination and oversight of the Parties’ activities under this Agreement. 
 2.2
JSC Membership. The JSC shall be comprised of an equal number of representatives from each of Pfenex and Agila, with at least two (2) representatives from each Party. Either Party may replace its respective JSC representatives at any
time with prior written notice to the other Party, provided that such replacement has comparable authority and scope of functional responsibility within that Party’s organization as the individual he or she is replacing. Without limiting the
foregoing, each Party shall appoint by notice to the other Party one of its members to the JSC as a co-chair of the JSC (each, a “Co-Chair”). The Co-Chairs shall (a) coordinate and prepare the agenda and ensure the orderly
conduct of the JSC’s meetings, (b) attend (subject to below) each meeting of the JSC, and (c) prepare and issue minutes of each meeting within ten (10) business days thereafter accurately reflecting the discussions and decisions
of the JSC at such meeting. Such minutes from each JSC meeting shall not be finalized until a member from each Party has reviewed and approved the accuracy of such minutes in writing. The Co-Chairs shall solicit agenda items from the other JSC
members and provide an agenda along with appropriate information for such agenda reasonably in advance (to the extent possible) of any meeting. In the event the presiding Co-Chair or another member of the JSC from either Party is unable to attend or
participate in any meeting of the JSC, the Party who designated such member may designate a substitute representative for the meeting. 

2.3 JSC Responsibilities. The role of the JSC shall be: 

2.3.1 to review and approve the Development Plan for any Collaboration Product(s) and any amendment thereto; 

2.3.2 to coordinate and oversee the transfer of Pfenex Materials and Deliverables to Agila; 

2.3.3 to manage and oversee the implementation of the Development Plan for any Collaboration Product(s), including all regulatory activities
required or otherwise conducted in accordance therewith; 
 2.3.4 to monitor each Phase I Clinical Trial conducted pursuant to the
Development Plan for the respective Collaboration Product(s); 

  
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 2.3.5 to provide a forum for the Parties to exchange information with respect to matters
pertaining to and status of the performance of the Development Plan for any Collaboration Product(s); 
 2.3.6 to coordinate and oversee
the transfer of any Collaboration Product(s) to the JVC pursuant to Section 3.9; and 
 2.3.7 to perform such other functions as
appropriate to further the purposes of this Agreement, as expressly set forth hereunder or otherwise agreed in writing by the Parties. 

2.4 JSC Meetings. 

2.4.1 Conduct. During the Term, the JSC shall hold at least one (1) meeting per calendar quarter in accordance with a schedule
established in advance annually or as the JSC otherwise agrees. Meetings of the JSC shall be effective only if at least one (1) representative of each Party is present or participating. The JSC may meet either (a) in person at either
Party’s facilities or at such locations as the Parties may otherwise agree; or (b) by audio or video teleconference; provided that at least one (1) such meeting per year shall be in person. With the prior consent of the other
Party’s representatives (such consent not to be unreasonably withheld or delayed), each Party may invite non-member employees to participate in the discussions and meetings of the JSC, provided that such participants shall have no vote and
shall be subject to the confidentiality provisions set forth in Article 9 of this Agreement. Additional meetings of the JSC may also be held with the mutual consent of the Parties, or as required under this Agreement, and neither Party will
unreasonably withhold or delay its consent to hold any such additional meeting. Each Party shall be responsible for all of its own expenses incurred in connection with participating in the JSC. 

2.4.2 Progress Report. At each meeting of the JSC, each Party shall summarize to the JSC the progress of the activities performed by
or under authority of such Party and its Affiliates with respect to each Collaboration Product during the period since the last meeting of the JSC. 

2.5 JSC Decision Making. Decisions of the JSC shall be made by consensus, with each Party having one (1) vote. Each Party shall
act in good faith to reach consensus on all matters and act in the general spirit of cooperation and in no event shall either Party unreasonably withhold, condition or delay any approval or other decision of the JSC hereunder. In the event the JSC
fails to reach consensus with respect to a particular matter within its authority, then upon request by either Party such matter shall be resolved pursuant to Section 14.10. For clarity, the JSC shall not have the power to amend or modify this
Agreement, and no decision of the JSC shall be in contravention of any terms or conditions of this Agreement. It is understood and agreed that issues to be formally decided by the JSC are only those specific issues that are expressly provided in
this Agreement or otherwise mutually agreed by the Parties to be decided by the JSC. 
 2.6 Alliance Manager. Promptly after the
execution of this Agreement each Party shall appoint a single individual to act as the primary point of contact between the Parties 

  
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in connection with the performance of the Development Plans (each, an “Alliance Manager”). Each Party may at any time appoint a different Alliance Manager by written notice to
the other Party and may elect, upon mutual agreement by the Parties, to eliminate the responsibilities of the Alliance Managers. The Alliance Managers shall be entitled to attend meetings of the JSC, but shall not have, or be deemed to have, any
rights or responsibilities of a member of the JSC. Each Alliance Manager may bring any matter to the attention of the JSC where such Alliance Manager reasonably believes that such matter requires such attention. 

2.7 Subcommittees. Promptly after the establishment of the JSC, the JSC shall establish the following subcommittees (each, a
“Subcommittee”): (a) a preclinical, clinical and regulatory Subcommittee to coordinate and make all day-to-day decisions necessary to implement any preclinical or clinical studies and regulatory activities set forth in each
Development Plan; (b) a chemistry, manufacturing, and controls (CMC) Subcommittee to coordinate and make all day-to-day decisions necessary to implement any manufacturing-related activities set forth in each Development Plan; (c) a
commercialization Subcommittee to (i) propose business/ commercialization strategies and priorities with respect to the Collaboration Products for the review and approval of the JSC and (ii) coordinate and resolve any issue arising from
the performance of each Development Plan that may impact such business/commercialization strategy for any Collaboration Product; (d) an intellectual property Subcommittee to develop and implement the intellectual property strategy with respect
to Collaboration Technology and coordinate the prosecution and maintenance of patents and patent applications claiming any jointly owned Collaboration Technology; and (e) a Subcommittee to oversee and coordinate the transfer of various
technologies as contemplated herein, whether between the Parties or to a Third Party. Each Subcommittee shall consist of equal number of representatives of each Party and shall meet with such frequency as the JSC determines is appropriate. Each
Subcommittee shall be responsible for day-to-day implementation and operations of the activities under this Agreement for which it has or is otherwise assigned responsibility, provided that such implementation is not inconsistent with the express
terms of this Agreement, the applicable Development Plan or the decisions of the JSC. Each Subcommittee shall operate by unanimous vote in all decisions, with each Party having one (1) vote and with at least one (1) representative from
each Party participating in such vote. If, with respect to a matter that is subject to a Subcommittee’s decision-making authority, the Subcommittee cannot reach unanimity, the matter shall be referred to the Alliance Manager, who shall submit
such matter to the JSC for resolution in accordance with Section 2.5. The various Subcommittees may have overlapping membership and the Parties will attempt to time meetings of the JSC and the various Subcommittees to maximize productivity of
the members and minimize costs associated therewith. 
 Article 3 

PRODUCT DEVELOPMENT 

3.1 Development Plan. Promptly after the execution of this Agreement, on a Collaboration Product-by-Collaboration Product basis, Pfenex
and Agila shall jointly prepare a mutually-agreed written work plan for any Collaboration Product(s) that sets out in reasonable detail the development activities to be conducted by each Party and its designees for the Successful Completion of the
first Phase I Clinical Trial for any Collaboration Product(s), as well as the location, protocol, budget and timelines for completion of various tasks therefor 

  
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(each, a “Development Plan”). Each Development Plan shall be subject to the JSC’s approval. Upon the JSC’s approval of a Development Plan, such Development Plan shall
be signed by a duly authorized representative from each Party and attached hereto as a part of this Agreement. For the avoidance of doubt, unless and until the Parties sign the Development Plan for any Collaboration Product, neither Party shall have
any obligation with respect to any product hereunder; provided, however, that unless and until the earlier of (a) the Parties sign a Development Plan therefor or (b) either Party provides sixty (60) days’ prior written notice to
the other Party of its intent to exclude a product described in Section 1.6(a) — (e), the Parties shall use good faith efforts to prepare and agree on Development Plan therefor prior to the date specified in Exhibit 1 (as may
be amended from time to time by the Parties). Each Development Plan will be updated and approved semi-annually by the JSC and shall be consistent with the general allocation of responsibilities described in Section 3.2 below. Without limiting
the foregoing, any material modifications or additions to any Development Plan (including any proposed change(s) to any Third Party designee) shall be first approved by JSC prior to its implementation. Each Party shall perform its obligations
allocated to it under each Development Plan in accordance with the terms and conditions of this Agreement (including the diligence requirement set forth in Article 8), the applicable Development Plan and all Applicable Laws. 

3.2 General Allocation of Responsibilities. 

3.2.1 To Pfenex. As further provided in the applicable Development Plan, with respect to each Collaboration Product, Pfenex shall be
responsible for and shall bear the expenses of: 
 (a) establishing and characterizing a Research Cell Bank for such Collaboration Product
(and in the case of the Interferon beta-1b Collaboration Product only, an initial Master Cell Bank and Working Cell Bank); 
 (b)
developing Manufacturing Process and Analytical Methods for such Collaboration Product; 
 (c) transferring the Research Cell Bank,
Manufacturing Process and Analytical Methods for such Collaboration Product to Agila along with copies of existing documentation associated therewith; 

(d) providing technical assistance to Agila with respect to Agila’s use thereof in accordance with and during the Term; and 

(e) providing assistance to Agila to apply for any funding/grants from any national (Indian), international or other sources for the
development of such Collaboration Product. 
 3.2.2 To Agila. As further provided in the applicable Development Plan, with respect
to each Collaboration Product, Agila shall be responsible for and shall bear the expenses of: 
 (a) establishing and characterizing a
Master Cell Bank and Working Cell Bank for the production of such Collaboration Product (except in the case of the Interferon beta-1b Collaboration Product only, for which Pfenex will be responsible for establishing and characterizing the initial
Master Cell Bank and Working Cell Bank); 

  
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 (b) transferring a portion of the Master Cell Bank to a mutually agreed Third Party for storage
and preservation; 
 (c) performing any necessary formulation development for such Collaboration Product; 

(d) performing any necessary scale up and validation activities and implementing the GMP manufacturing of such Collaboration Product; 

(e) performing the proper stability studies and analytical, process and shipping validation for such Collaboration Product in accordance with
GMP; 
 (f) developing and performing any necessary PEGylation process for such Collaboration Product; 

(g) obtaining and maintaining appropriate Consents including facility permits, manufacturing licenses, manufacturing and analytical records
and approvals necessary for the manufacture of such Collaboration Product; 
 (h) performing any necessary GLP toxicology study for such
Collaboration Product and provide sufficient amount of such Collaboration Product for other preclinical studies and the first Phase I Clinical Trial; 

(i) managing regulatory matters (including making all Regulatory Filings with Regulatory Authorities for obtaining all necessary Regulatory
Approvals to initiate the first Phase I Clinical Trial for such Collaboration Product); and 
 (j) conducting the first Phase I Clinical
Trial for such Collaboration Product and undertake other actions necessary for the Successful Completion of such Phase I Clinical Trial; and 

(k) applying for funding/grants from any national (Indian), international or other sources for the development of such Collaboration Product,
with the assistance of Pfenex. 
 3.3 Development Costs. As between the Parties, each Party shall bear all of the costs and expenses
incurred in connection with any of the activities allocated to such Party under this Agreement and each applicable Development Plan. Notwithstanding anything to the contrary in this Agreement or any Development Plan, Agila shall be responsible for
all costs and expenses incurred by the Parties in conducting the first Phase I Clinical Trial of any Collaboration Product hereunder. Notwithstanding the foregoing, neither Party may commit to, enter into any agreement for the conduct of a Phase I
Clinical Trial or manufacturing agreement under the Development Plan(s) for any Collaboration Product(s) except as approved by the JSC; provided, however, Agila will reimburse Pfenex for those costs incurred in connection for the Phase I Clinical
Trial for the Interferon beta-1b Collaboration Product (including the GMP manufacture of such Collaboration Product therefor) as set forth on Exhibit 2. 

  
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 3.4 Subcontractors. Except as set forth in the applicable Development Plan, neither Party
may subcontract or otherwise delegate all or any portion of its obligations under this Agreement (including substituting or adding manufacturing or contract research facilities of a Third Party) without JSC’s prior written approval. When
considering a subcontractor a Party will advise the JSC, which will establish an audit team comprised of members from each Party to audit or review such subcontractor to ensure that the subcontractor meets the qualifications necessary and has
complied with Applicable Laws with respect to the subcontracting activities for which such subcontractor is being considered. To the extent such approval is granted, the subcontracting Party shall (a) ensure that each such subcontractor has and
maintains all appropriate qualifications and complies with Applicable Laws and that the other Party or its designee has the right to participate in and approve such qualification process; (b) ensure that all such approved subcontractors comply
with the provisions of this Agreement; and (c) be responsible for each such subcontractor’s performance hereunder (including, without limitation, any breach of this Agreement by such subcontractor), as if such subcontracting Party were
itself performing such activities. For clarity, each Party may exercise its rights or perform its obligations under this Agreement through one or more of its Affiliates; provided that each Party shall ensure that each such Affiliate complies with
the provisions of this Agreement and be responsible for each such Affiliate’s performance hereunder (including, without limitation, any breach of this Agreement). 

3.5 Protocols. All protocols for any pre-clinical or clinical studies to be performed with respect to each Collaboration Product shall
be developed by the relevant Subcommittee, in consultation with those relevant scientific/technical representatives from each Party, and submitted to the JSC for its review and approval. Further, any material modification to any such protocol shall
subject to the review and approval of the JSC. For the avoidance of doubt, all study sites and investigators for each Phase I Clinical Trial of any Collaboration Product conducted under this Agreement shall be included in the applicable Development
Plan and subject to the review and approval of the JSC. 
 3.6 Information Sharing. On an annual basis or as the JSC otherwise
determines during the Term, and without limiting Section 2.4.2, each Party shall provide to the other Party the documentation, reports and other data from or relating to any completed or ongoing development activities and the results thereof
(and summaries of any results in English if such documentation and materials are not provided in English) controlled by such Party relating to each Collaboration Product (including documentation relating to Regulatory Filings and Regulatory
Approvals, original source data, reports, case report forms (CRFs) and summary literature). Each Party shall have the right to use, and disclose (provided that if such information is the Confidential Information of the other Party, such disclosure
shall be subject to confidentiality obligations as set forth in Article 9 of this Agreement) such information to the extent necessary to exercise its rights and fulfill its obligations hereunder. 

3.7 Exclusivity of Efforts. On a Collaboration Product-by-Collaboration Product basis, during the Term for the applicable Collaboration
Product, each Party agrees that, except for its obligations hereunder, neither it nor any of its Affiliates shall develop, 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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manufacture, supply or commercialize any Collaboration Product, or assist any Third Party to perform any such activities with respect to any Collaboration Product. In addition, neither Party
shall, during or after the Term, use any Study Results other than pursuant to this Agreement or the JVA. Notwithstanding the foregoing, nothing herein is intended to require a Party to breach those obligations set forth in Exhibit 3
under such Party’s name. 
 3.8 Execution of the JVA. As soon as practicable after the execution of this Agreement, the Parties
shall finalize and execute the JVA by no later than February 28, 2013. It is understood that the JVA will be in the form under negotiations by the Parties as of the Effective Date, except that the Parties may (i) change the jurisdiction of
incorporation of the JVC as mutually agreed by the Parties, (ii) make other changes to the extent necessary or appropriate to comply with applicable laws of the jurisdiction of incorporation of the JVC, and (ii) modify those tax-related
provisions for the purpose of minimizing each Party’s tax liabilities arising from its activities under the JVA to the extent legally permissible. 

3.9 Collaboration Product Transfer to the JVC. On a Collaboration Product-by-Collaboration Product basis, reasonably in advance of the
anticipated completion of the first Phase I Clinical Trial for a Collaboration Product, the Parties shall, through the JSC, discuss and develop a detailed development plan and budget setting forth in reasonable detail the activities to be conducted
by the JVC for the further development and commercialization of such Collaboration Product and associated budget and timelines, including the strategy for conducting Phase III Clinical Trials for such Collaboration Product, the location for such
trials, the contract research organizations to conduct such trials and the budget therefor, as well as the launch strategy for such Collaboration Product and budget therefor (each, a “Plan and Budget”). Upon Successful Completion of
the first Phase I Clinical Trial in the Territory for a Collaboration Product and the JVC’s receipt of all necessary Consents, business licenses, permits and Regulatory Approvals, and further contingent upon the Parties’ agreement on the
applicable Plan and Budget and the JVC board of director’s ratification thereof, such Collaboration Product will be transferred to the JVC, and the JVC will continue the development and commercialization of such Collaboration Product in
accordance with the applicable Plan and Budget as further provided in the JVA. The Parties shall conduct no further development activities with respect to a Collaboration Product under this Agreement after such Collaboration Product is transferred
to the JVC. 
 Article 4 

PFENEX DELIVERABLES 

4.1 Delivery of Manufacturing Strain; Restrictions. 

4.1.1 Delivery. With respect to each Collaboration Product, promptly after Pfenex has established (a) Research Cell Bank,
(b) Manufacturing Process and (c) Analytical Methods for such Collaboration Product, Pfenex shall deliver to Agila the Manufacturing Process and the associated Research Cell Bank, Analytical Methods for the production of such Collaboration
Product (all such deliverables (including in the case of the Interferon beta-1b Collaboration Product only, an initial Master Cell Bank and Working Cell Bank) together with all modifications or derivatives thereof based in whole or part from the
Pfenex Expression Technology, collectively referred to as the “Pfenex Materials and  

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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Deliverables”). Pfenex Materials and Deliverables shall be and remain the sole and exclusive property of Pfenex and the physical possession of such Pfenex Materials and Deliverables
by Agila shall not be (nor be construed as) a sale, lease, offer to sell or lease, or other transfer of title of such materials to Agila. Except as expressly provided in this Agreement, no licenses or rights shall be deemed granted to Agila, by
implication, estoppel or otherwise, by the transfer of physical possession of any such Pfenex Materials and Deliverables to Agila. 
 4.1.2
Limitations on Use and Transfer. Agila shall not use the Pfenex Materials and Deliverables for any purpose other than for the performance of its obligations under this Agreement. Except as otherwise authorized by Pfenex in writing, Agila
shall not provide the Pfenex Materials and Deliverables to any Person other than to approved subcontractors in furtherance of Section 3.4 or those employees of Agila who require access to the Pfenex Materials and Deliverables, in each case for
the performance of the activities allocated to Agila under any Development Plan. Agila shall only use the Pfenex Materials and Deliverables in compliance with all Applicable Laws. 

4.1.3 No Modification or Derivation. Except as (a) expressly set forth in the applicable Development Plan or (b) allowed
with Pfenex’s prior written consent, Agila shall not attempt to alter or modify the Pfenex Materials and Deliverables in any way, or to make any derivatives or modifications thereof and shall not under any circumstances attempt, directly or
indirectly, to analyze, characterize, reverse engineer or otherwise derive the sequences, or constructs of the Pfenex Materials and Deliverables. It is understood that from time to time with Pfenex’s prior consent, Agila may modify the Pfenex
Materials and Deliverables so as to improve the performance thereof. 
 4.1.4 Care in Use of the Pfenex Materials and Deliverables.
Agila acknowledges that the Pfenex Materials and Deliverables are experimental in nature and may have unknown characteristics and therefore agrees to use prudence and all reasonable care in the use, handling, storage, containment, transportation and
disposition of the Pfenex Materials and Deliverables. 
 4.2 Warranties Regarding Pfenex Materials and Deliverables. Pfenex hereby
represents and warrants to Agila that (a) Pfenex owns or has rights to the Pfenex Materials and Deliverables; (b) Pfenex has the right to provide the Pfenex Materials and Deliverables to Agila for use in accordance with this Agreement and
(c) the Pfenex Materials and Deliverables meet the written specifications therefor as set forth in the applicable Development Plan(s) at the time of delivery to Agila. 

4.3 Acknowledgement. Agila acknowledges that the use or modification of the Pfenex Materials and Deliverables other than as permitted
under this Agreement could cause irreparable damage to Pfenex. As such, Agila agrees that: (a) any breach of this Article 4 shall be considered a material breach of this Agreement; (b) Pfenex shall have the right to receive an assignment
of all right, title and interest in and to any patent or patent application that contains, discloses or claims any invention arising from an impermissible modification or use of the Pfenex Materials and Deliverables, and (c) the remedies set
forth in subsections (a) and (b) shall not prejudice Pfenex’s right to pursue any legal or equitable remedy available to Pfenex for any violations of this Article 4. 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 Article 5 

MANUFACTURING OF COLLABORATION PRODUCTS 

5.1 General. As between the Parties, Agila shall be solely responsible for manufacturing any Collaboration Product(s) for any
pre-clinical studies, the first Phase I Clinical Trial for any Collaboration Product(s) and otherwise in support of the Development Plan therefor at its own costs in the Facilities. All Collaboration Product(s) supplied by Agila hereunder for use in
any Phase I Clinical Trial shall meet the applicable Specifications therefor and shall be manufactured at the Facility in accordance with the applicable Manufacturing Process and all Applicable Laws (including GMP). Agila shall perform quality
control procedures reasonably necessary to ensure that any Collaboration Product(s) for use in any clinical studies conform fully to the applicable Specifications. 

5.2 Changes. Once transferred to Agila, neither Party shall make any changes to the Manufacturing Process, Specifications, Analytical
Methods, Facility, Raw Materials or any other item in any manner that would reasonably cause any Collaboration Product for use in any clinical studies not to comply with the Specifications therefor or Applicable Laws, without the JSC’s prior
written approval. If either Party desires any such change, it may request such change through the JSC. All such changes shall be documented in a writing signed by an authorized representative of each of Pfenex and Agila. 

5.3 Deviations. Without limiting Section 5.2 above, in the event any material deviations occur during the course of the
manufacture of any batch of any Collaboration Product for use in any clinical studies under this Agreement, Agila shall immediately provide the JSC with a detailed written description of such deviation. In addition, Agila shall undertake all
reasonable and appropriate actions to investigate the cause of such deviation and to correct the same. 
 5.4 Agila Warranties. Agila
represents and warrants that: 
 5.4.1 Collaboration Product. All Collaboration Product supplied by Agila hereunder shall comply
with all Applicable Laws, GMPs and meet all Specifications, and Agila shall perform and document all manufacturing and supply activities contemplated herein in compliance with all Applicable Laws. 

5.4.2 Facilities and Equipment. The Facility(ies), all equipment used for the manufacture of each Collaboration Product within the
Facility(ies) and the activities contemplated herein complies with all Applicable Laws and Agila shall obtain and maintain all Consents including governmental registrations, permits, licenses and approvals necessary for Agila to manufacture each
Collaboration Product, and otherwise to perform its obligations, under this Agreement. 
 5.5 Manufacturing Records. Agila shall
generate and maintain complete and accurate records and samples as necessary to evidence compliance with this Agreement and all Applicable Laws and other requirements of applicable governmental authorities relating to the manufacture of each
Collaboration Product, including validation data, stability testing data, certificates of analysis, certificates of origin of all raw materials, batch and lot records, quality 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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control and laboratory testing, and any other data required by Applicable Laws. All such records and samples shall be maintained for such periods as may be required by Applicable Law. Upon
request by Pfenex, Agila shall provide Pfenex (or its designee) reasonable access to, and copies and portions of, such records and samples, including all batch and lot records, and any supporting data relating thereto, including written
investigations of any deviations that may have been generated from manufacturing, packaging, inspection, or testing processes. 
 5.6
Inspection. During the Term and such longer period required by Applicable Laws, upon at least ten (10) business days advance notice and at reasonable frequency, Pfenex shall have the right to inspect and audit, during regular business
hours: (a) any Facility or any other location at which any of the manufacturing, processing or other activities relating to any Collaboration Product are performed hereunder; and (b) any of the manufacturing and quality control records and
all other documentation relating to the manufacturing, processing and other activities with respect to any Collaboration Product (including any internal quality control audits or reviews. Such inspections and audits shall be for the purpose of
ascertaining compliance with Applicable Laws, the Specifications and other aspects of this Agreement, reviewing correspondence, reports, filings and other documents from or to Regulatory Authorities to the extent related to the manufacturing,
processing and other activities hereunder, approving, where appropriate, all variances from applicable requirements hereunder, and evaluating the implementation of all manufacturing and process changes pursuant to this Agreement. In performing any
such audit or inspection, employees or consultants of Pfenex shall: (i) not unreasonably interfere with other activities of Agila being carried out at the location at which such audit or inspection is taking place; and (ii) observe all
rules and regulations applicable to visitors and to individuals employed at the Facility which have been communicated by Agila to Pfenex in writing. Any information obtained by Pfenex through such inspections and audits shall be treated as
Confidential Information of Agila in accordance with Article 9 below. 
 5.7 [*] Facility. Agila will use all reasonable efforts to
ensure that all applicable testing and validation of the [*] Facility has been successfully completed, and all required Consents have been obtained, and such facility is otherwise ready and available for use in manufacture of each Collaboration
Product as soon as practicable and in no event later than the earlier of (i) the time Agila or the JVC, as applicable, receives a manufacturing license for the applicable Collaboration Product from the applicable Regulatory Authority and
(ii) the JVC is otherwise prepared to commercially launch such Collaboration Product. In the event that the [*] Facility is not so completed for commercial production, Agila shall make alternative arrangements to supply the Collaboration
Product(s) to the JVC for commercialization under the terms and conditions set in the JVA. 
 Article 6 

REGULATORY MATTERS 

6.1 General. As between the Parties, Agila shall be solely responsible for Regulatory Filings, obtaining and maintaining all necessary
Regulatory Approvals for the initiation and performance of the first Phase I Clinical Trial for each Collaboration Product; provided that all such activities shall be performed in a manner that is consistent with the applicable Development Plan
developed in accordance with Section 3.1. As between the Parties, Agila shall assume all responsibilities of sponsors and investigators under Applicable Laws for 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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the first Phase I Clinical Trial for each Collaboration Product. Upon the transfer of any Collaboration Product to the JVC as provided in Section 3.9, Agila shall assign and deliver, or
cause to be assigned and delivered, to the JVC, and the JVC shall assume control of, all Regulatory Filings and approvals (including Regulatory Approvals) and all communications with the applicable Regulatory Authorities with respect thereto
obtained and maintained by Agila or its Affiliate in connection with the development of such Collaboration Product(s). 
 6.2 Meetings
with Regulatory Authorities. Agila shall timely inform Pfenex as soon as reasonably practicable of any meetings scheduled with any Regulatory Authority concerning any Collaboration Product. As reasonably requested in a timely manner, Agila shall
allow representatives from Pfenex to participate in such meetings with any Regulatory Authority. 
 6.3 Regulatory Filings.
Reasonably in advance of the submission of any Regulatory Filing or material correspondence with applicable Regulatory Authorities for any Collaboration Product, Agila shall provide a copy of such document to Pfenex for its review and shall
incorporate any reasonable comments and suggestions provided by Pfenex with respect thereto. Agila shall make available, directly, or through the JSC, copies of any Regulatory Filing or correspondence with applicable Regulatory Authorities for any
Collaboration Product promptly after such Regulatory Filing or correspondence has been submitted to the applicable Regulatory Authority. 

6.4 Regulatory Actions. Agila shall permit all applicable Regulatory Authorities to conduct such inspections of the Facility or any
other location at which any of the manufacturing or development activities (including pre-clinical or clinical studies) relating to any Collaboration Product are performed, as such Regulatory Authorities may request in accordance with Applicable
Laws and shall cooperate with such Regulatory Authorities with respect to such inspections and any related matters. Agila shall give Pfenex prompt written notice of any such inspections, and shall keep Pfenex informed about the results and
conclusions of each such regulatory inspection, including actions taken by Agila to remedy conditions cited in such inspections. In addition, Agila shall allow Pfenex or its representative to assist in the preparation for and be present at such
inspections for which it has advanced notice. Agila shall provide Pfenex with copies of any written inspection reports issued by any Regulatory Authority and all correspondence between Agila and any Regulatory Authority with respect thereto.
Additionally, Agila agrees to promptly notify and provide Pfenex copies of any request, directive or other communication of the applicable Regulatory Authority relating to or otherwise that may affect any Collaboration Product or its manufacture or
development. Prior to responding to any reports, requests, directive or other communications issued by any Regulatory Authority relating to or otherwise that may affect any Collaboration Product or its manufacture or development, Agila shall provide
Pfenex a copy of its proposed response for Pfenex’s review and comments and Agila shall include any reasonable comments or recommendations provided by Pfenex with respect thereto prior to submitting such response to the applicable Regulatory
Authority. Agila shall provide Pfenex a copy of its final response contemporaneously with submitting the response to the Regulatory Authority. 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 Article 7 

RECORDS; INSPECTIONS 

7.1 Record Keeping. Without limiting any other specific record-keeping obligations set forth in this Agreement or any Development Plan,
each Party shall generate and maintain, during the Term and such longer period required by Applicable Laws, complete and accurate records related to its performance of its obligations under each Development Plan as necessary to evidence compliance
with this Agreement and all Applicable Laws. Upon the transfer of any Collaboration Product to the JVC as provided in Section 3.9, each Party shall deliver, or cause to be delivered, to the JVC all records (or copies thereof) kept by such Party
in accordance with this Section 7.1. 
 7.2 Inspection. Without limiting any other specific inspection provisions in this
Agreement or any Development Plan, during the Term and such longer period required by Applicable Laws, at least ten (10) business days advance notice by a Party and at reasonable frequency, such Party shall have the right to inspect and audit,
during regular business hours, the records kept by the other Party pursuant to Section 7.1. Such inspections and audits shall be for the purpose of ascertaining compliance with this Agreement and Applicable Laws. Any information obtained by the
auditing Party through such inspections and audits shall be treated as Confidential Information of the audited Party in accordance with Article 9 below. 

Article 8 
 DILIGENCE

 8.1 Diligence. Each Party will expend, with respect to each objective set forth in this Agreement or otherwise assigned to
such Party under any Development Plan, its reasonable, good faith efforts to accomplish such objective consistent with those efforts it normally expends to accomplish a similar objective under similar circumstances. It is understood and agreed that
with respect to any Collaboration Product(s), each Party’s efforts will be substantially equivalent to those efforts and resources commonly used for pharmaceutical products owned by it or to which it has rights, which product is at a similar
stage in its development or product life and is of similar market potential as such Collaboration Product taking into account all relevant factors. Without limiting the foregoing, each Party shall achieve the applicable milestones set forth in
Exhibit 1 attached hereto (each, a “Milestone”) with respect to activities assigned to it under this Agreement or the applicable Development Plan within the corresponding timelines set forth in Exhibit 1. For
clarity, the date by which the Development Plan for each Collaboration Product shall be executed by the Parties shall each be a Milestone, and a failure to meet such Milestone with respect to a Collaboration Product shall trigger the termination
right set forth in Section 3.1 with respect to such Collaboration Product. 
 Article 9 

CONFIDENTIALITY 

9.1 Confidential Information. The Parties may from time to time disclose to each other Confidential Information. “Confidential
Information” means any information disclosed by one Party to the other Party hereto, which (i) if disclosed in tangible form is marked “confidential” or with other similar designation to indicate its confidential or
proprietary nature, 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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(ii) if disclosed orally, is identified as confidential or proprietary by the Party disclosing such information at the time of its initial disclosure and is confirmed in writing as
confidential or proprietary by the disclosing Party within forty five (45) days after such initial disclosure, or (iii) is reasonably expected to be treated in a confidential manner based on the nature of such information and the
circumstances of its disclosure. For clarity, the terms of this Agreement and all Study Results shall be deemed Confidential Information of both Parties. Notwithstanding the foregoing or anything herein to the contrary, a receiving Party’s
obligations under this Article 9 shall not apply to any information that, in each case as demonstrated by written documentation: (a) was already known to the receiving Party, other than under an obligation of confidentiality, at the time of
disclosure; (b) was generally available to the public or otherwise part of the public domain at the time of its disclosure to the receiving Party; (c) became generally available to the public or otherwise part of the public domain after
its disclosure and other than through any act or omission of the receiving Party in breach of this Agreement; (d) was subsequently lawfully disclosed to the receiving Party by a Person other than the disclosing Party; or (e) was
independently developed by the receiving Party without use of or reference to any Confidential Information of the disclosing Party. 
 9.2
Confidentiality. During the Term of this Agreement and for five (5) years thereafter without regard to the means of termination (or if the JVA is entered into, then such longer period as required by the JVA), neither Party shall use, for
any purpose other than the purpose of this Agreement including (i) in connection with the performance of its obligations or exercise of rights granted to such Party in this Agreement and (ii) to the extent such disclosure is reasonably
necessary in filing for, prosecuting or maintenance of patents and other intellectual property rights (including applications therefor) in accordance with this Agreement, prosecuting or defending litigation, complying with applicable governmental
regulations, filing for, conducting preclinical or clinical trials, obtaining and maintaining regulatory approvals, or otherwise required by Applicable Laws or the rules of a recognized stock exchange, reveal or disclose to any Third Party other
than consistent with such use including to potential investors, acquirers, investment bankers, lenders or their respective advisors and attorneys, Confidential Information and materials disclosed by the other Party (whether prior to or during the
Term of this Agreement) without first obtaining the written consent of the other Party. The Parties agree to take all necessary steps to ensure that Confidential Information is securely maintained and to inform those who are authorized to receive
such Confidential Information of their obligations under this Agreement and subject to written non-disclosure, non-use requirements consistent with this Article 9. Upon the termination or expiration of this Agreement for any reason (unless the JVA
is entered into, then as required in the JVA), the receiving Party promptly shall, upon request by the disclosing Party, return all such Confidential Information, and any copies or reproductions thereof, to the disclosing Party and agrees to make no
further use of such Confidential Information, except it may retain one copy thereof solely for use in complying with any record keeping and other obligations within such Party’s jurisdiction. 

9.3 Reasonable Precautions. The Parties shall take all reasonable precautions to prevent the use or disclosure of such Confidential
Information of the other Party without first obtaining the written consent of the other Party, except in accordance with Section 9.2 which may require disclosure to a governmental authority, regulatory authority, pricing authority in the
Territory or otherwise required to be disclosed for diligence exercise for any transaction in connection with the development of any Collaboration Product in accordance herewith which may involve any Third Party, government authority, customer,
bank, fund raising institution subject to written non-disclosure, non-use requirements consistent with this Article 9. 

  
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 9.4 Publicity Review. 

9.4.1 Press Releases and Public Announcements. Neither Party shall issue any press release or other publicity materials, or make any
public presentation with respect to this Agreement, the terms or conditions of this Agreement, or any Collaboration Product including with respect to any Study Results without the prior written consent of the other Party (such consent not to be
unreasonably withheld, conditioned or delayed). The restrictions provided in this Section 9.4.1 shall not apply to disclosures required by Applicable Law, including as may be required in connection with any filings made with the Securities and
Exchange Commission or similar non-U.S. regulatory authority, or by the disclosure policies of a major stock exchange; provided that each Party shall use good faith efforts to provide any such disclosure at least five (5) business days prior to
such disclosure (to the extent practicable) for the other Party’s review and comment. 
 9.4.2 Use of Names. Neither Party
shall utilize the name or trademarks of the other Party or make any disclosures concerning this Agreement, without the other Party’s prior written consent, provided that such use or disclosure shall be permitted if required by Applicable Laws
and the Party making such use or disclosure consults with the other Party to the extent practicable not less than thirty (30) days prior the use or disclosure. 

9.5 Prior Agreement. This Agreement supersedes the terms and conditions of the Confidentiality Agreement between the Parties dated
May 2, 2012 (“Prior Confidentiality Agreement”) with respect to information disclosed thereunder. All information exchanged between the Parties under such Prior Confidentiality Agreement shall be deemed Confidential Information
of the disclosing Party and shall be subject to the terms of this Article 9. 
 Article 10 

INTELLECTUAL PROPERTY 

10.1 Background Technology. Except for the limited licenses granted under Section 10.2 below, as between the Parties, each Party
retains full right, title and interest in and to its Background Technology. Unless otherwise expressly set forth in this Agreement, each Party shall be fully responsible for obtaining and maintaining, at its own expense, ownership of or appropriate
license to any technologies (and intellectual property rights therein) that are necessary for its performance of its obligations under each Development Plan. Without limiting the generality of the foregoing, Agila shall be solely responsible for
developing or acquiring (including licensing or acquiring rights or assets from any Third Party), subject to the oversight and consent of the JSC, any PEGylation technology that is necessary for the development of PEGylated Interferon beta-1B,
PEGylated Granulocyte Colony-Stimulating Factor, PEGylated L-Asparaginase and any additional PEGylated Collaboration Products as further provided in the applicable Development Plan. Agila shall be responsible for all costs associated with the
development or acquisition of any such PEGylation technologies, except for any royalty payable to a Third Party upon the sale of any Collaboration Product(s) in which such PEGylation technologies are incorporated, which royalty will be borne by the
JVC. 

  
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 10.2 License Grant 

10.2.1 License to Agila. Pfenex hereby grants to Agila a non-exclusive, worldwide, fully-paid up, royalty-free license under
Pfenex’s Background Technology and any Collaboration Technology solely owned by Pfenex pursuant to this Article 10, together with all intellectual property rights therein, solely to the extent necessary for Agila to perform the activities
allocated to it under this Agreement and the applicable Development Plan during the Term. 
 10.2.2 License to Pfenex. Agila hereby
grants to Pfenex a non-exclusive, worldwide, fully-paid up, royalty-free license under Agila’s Background Technology and any Collaboration Technology solely owned by Agila pursuant to this Article 10, together with all intellectual property
rights therein, solely to the extent necessary for Pfenex to perform the activities allocated to it under this Agreement and the applicable Development Plan during the Term. 

10.2.3 No Other Right. All rights and licenses granted under this Agreement are limited to the scope expressly granted. Accordingly,
except for the rights expressly granted under this Agreement, no right, title, or interest of any nature whatsoever is granted whether by implication, estoppel, reliance, or otherwise, by either Party to the other Party. 

10.3 Collaboration Technology. Except as provided in Sections 10.4 and 10.5 and subject to Section 10.6, as between the
Parties all right, title and interest to inventions and other subject matter (together with all intellectual property rights therein) conceived or created or first reduced to practice in connection with the exercise of rights or performance of
obligations under this Agreement (collectively, “Collaboration Technology”) (i) by or under the authority of Pfenex or its Affiliates, independently of Agila and its Affiliates, shall be owned by Pfenex, (ii) by or under
the authority of Agila or its Affiliates, independently of Pfenex and its Affiliates, shall be owned by Agila, and (iii) by personnel of Pfenex or its Affiliates and Agila or its Affiliates shall be jointly owned by Pfenex and Agila. Except as
expressly provided otherwise in this Agreement, neither Party shall have any obligation to obtain any approval of the other Party for, nor pay the other Party any share of the proceeds from or otherwise account to the other Party for, the practice,
enforcement, licensing, assignment or other exploitation of such jointly owned Collaboration Technology, and each Party hereby waives any right it may have under the Applicable Laws of any country to require such approval, sharing or accounting.
Except as otherwise expressly provided hereunder, the Party that owns any particular Collaboration Technology shall, as between the Parties, have the sole and exclusive right to control the filing for, prosecution, maintenance and enforcement of any
intellectual property rights therein in its sole discretion and any jointly owned Collaboration Technology will be prosecuted, maintained and enforced as determined by the intellectual property Subcommittee in accordance with the procedures set
forth in Section 2.7. 
 10.4 Pfenex Improvements. Notwithstanding Section 10.3 above, all Pfenex Improvements will be the
sole and exclusive property of Pfenex, and Agila hereby assigns to Pfenex all Pfenex Improvements. Agila will promptly disclose to Pfenex any and all Pfenex Improvements and take such other reasonable actions at Pfenex’s request and expense to

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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effectuate such assignment. As used herein, “Pfenex Improvements” means: all modifications and improvements to any Pfenex Expression Technology or Pfenex Materials and
Deliverables and all inventions claiming the use of Pfenex Expression Technology that are not solely applicable to any Collaboration Product, together with all intellectual property rights pertaining to the foregoing. 

10.5 Agila Improvements. Notwithstanding Section 10.3 above, all Agila Improvements will be the sole and exclusive property of
Agila. As used herein, “Agila Improvements” means all modifications and improvements to any Agila’s proprietary manufacturing and/or formulation technologies that are not (a) solely applicable to any Collaboration Product
or (b) based upon or include any Pfenex Expression Technology, Pfenex Materials and Deliverables or Confidential Information of Pfenex, together with intellectual property rights pertaining to the foregoing. 

10.6 Assignment to JVC. Upon the transfer of any Collaboration Product to the JVC as provided in Section 3.9, each Party shall
assign, or cause to be assigned, to the JVC, all of its right, title and interest in and to any Collaboration Technology (excluding any Pfenex Improvement) arising from the performance of the applicable Development Plan and the JVC shall have the
sole and exclusive right to control the filing for, prosecution, maintenance and enforcement of any intellectual property rights in such Collaboration Technology in its sole discretion. Each Party shall grant to the JVC appropriate licenses to its
Background Technology to enable the JVC to further develop and commercialize the applicable Collaboration Product. 
 10.7 Disclosure and
Cooperation. Each Party shall promptly disclose to the other Party any Collaboration Technology generated hereunder. The Parties shall at all times fully cooperate in order to reasonably implement the provisions of this Article 10. Such
cooperation may include the execution of necessary legal documents, coordinating prosecution to avoid or mitigate any patentability issues, and the provision of any other assistance reasonably requested by the other Party at such other Party’s
expenses. 
 Article 11 

TERM AND TERMINATION 

11.1 Term. The term of this Agreement shall commence on the Effective Date and shall continue on a Collaboration
Product-by-Collaboration Product basis until the Successful Completion of the first Phase I Clinical Trial for the applicable Collaboration Product (“Term”). For clarity, prior to each Party signing the applicable Development Plan
for a particular Collaboration Product hereunder as set forth in Section 3.1, neither Party shall have any rights or obligations hereunder with respect to such product, except that the Parties will use good faith efforts to prepare and agree on
Development Plan in accordance with Section 3.1 for each product described in Section 1.6(a) – (e) unless either Party prior to the signing of the Development Plan for such product provides sixty (60) days’ prior
written notice to the other Party that it desires to exclude such product herefrom, in which case, such product shall be excluded; provided that if the other Party desires the Parties shall discuss the basis for such exclusion during such sixty
(60) day period. 

  
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 11.2 Termination for Material Breach. If either Party materially breaches this Agreement,
the non-breaching Party shall have the right to terminate this Agreement, in its entirety or with respect to any Collaboration Product that is subject to the applicable Development Plan under which such material breach occurs, by written notice to
the breaching Party specifying the breach and referencing this Section 11.2, if such breach is not cured within ninety (90) days after written notice is given by the non-breaching Party to the breaching Party specifying the breach;
provided, however, that in the event of a good faith dispute with respect to the existence of a material breach, this Agreement or the applicable Development Plan shall not be terminated unless it is finally determined pursuant to Section 14.10
such material breach has occurred, and the breaching party fails to cure such breach within ninety (90) days after such determination. 

11.3 Termination for Insolvency. Each Party shall have the right to terminate this Agreement upon delivery of written notice to the
other Party in the event that (i) such other Party files in any court or agency pursuant to any statute or regulation of any jurisdiction a petition in bankruptcy or insolvency or for reorganization or similar arrangement for the benefit of
creditors or for the appointment of a receiver or trustee of such other Party or its assets, (ii) such other Party is served with an involuntary petition against it in any insolvency proceeding and such involuntary petition has not been stayed
or dismissed within ninety (90) days of its filing, or (iii) such other Party makes an assignment of substantially all of its assets for the benefit of its creditors. 

11.4 Termination for Failure to Enter into the JVA. In the event the Parties fail to enter into the JVA pursuant to Section 3.8 by
February 28, 2013, this Agreement shall terminate automatically unless otherwise mutually agreed by the Parties in writing. 
 11.5
Cross Termination with the JVA. In the event the JVA is terminated in its entirety in accordance with its terms, this Agreement shall terminate automatically unless otherwise mutually agreed by the Parties in writing. 

11.6 Effects of Termination. 

11.6.1 Expiration or termination of this Agreement (in its entirety or with respect to any Collaboration Product) for any reason shall not
release either Party of any obligation or liability which, at the time of such expiration or termination, has already accrued to such Party or which is attributable to a period prior to such expiration or termination. 

11.6.2 Upon expiration or termination of this Agreement (in its entirety or with respect to any Collaboration Product), all rights and
licenses to any technology and intellectual property rights therein granted by either Party to the other Party under this Agreement or with respect to the applicable terminated Collaboration Product, as applicable, shall terminate and revert back to
the Party granting such rights or licenses. 
 11.6.3 Upon termination of this Agreement or with respect to any Collaboration Product(s),
each Party shall cease all work under this Agreement or the applicable Development Plan, as applicable, except for activities as necessary for an orderly wind-down of the performance of this Agreement or the applicable Development Plan, and return
to the other 

  
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Party all Confidential Information of the other Party and unused materials provided to it by the other Party under this Agreement or the applicable Development Plan, as applicable, and all copies
and embodiments thereof, except that each Party may retain one copy of the other Party’s written Confidential Information in its confidential files solely for archival purposes. Without limiting the generality of the foregoing, upon termination
of this Agreement (in its entirety or with respect to any Collaboration Product), Agila shall immediately cease any use or practice of Pfenex Materials and Deliverables provided under this Agreement or under the applicable Development Plan, as
applicable, and return all remaining Pfenex Materials and Deliverables in Agila’s possession, including all embodiments or derivatives thereof. 

11.6.4 Upon expiration of this Agreement with respect to any Collaboration Product(s), in the event such Collaboration Product(s) is
transferred to the JVC as provided in Section 3.9, each Party shall fully cooperate with each other to facilitate a smooth, orderly and prompt transfer of such Collaboration Product(s) to the JVC. Without limiting the generality of the
foregoing, (i) Agila shall assign or cause to be assigned to the JVC all Regulatory Filings and Regulatory Approvals and all communications with the applicable Regulatory Authorities obtained or maintained by or on behalf of Agila under this
Agreement with respect to such Collaboration Product(s), (ii) each Party shall assign all of its right, title and interest in and to any Collaboration Technology (excluding Pfenex Improvements) to the JVC, and (iii) each Party shall
transfer to the JVC all records, reports and other work products generated during its performance of the applicable Development Plan. 

11.6.5 Upon expiration of this Agreement with respect to any Collaboration Product, in the event such Collaboration Product(s) is not
transferred to the JVC as provided in Section 3.9, unless otherwise mutually agreed by the Parties, each Party shall return to the other Party all Confidential Information of the other Party and unused materials provided to it by the other
Party (including Pfenex Materials and Deliverables provided to Agila) under this Agreement or the applicable Development Plan, as applicable, and all copies and embodiments thereof, except that each Party may retain one copy of the other
Party’s written Confidential Information in its confidential files solely for archival purposes. Upon expiration of this Agreement with respect to any Collaboration Product, in the event such Collaboration Product(s) is not transferred to the
JVC as provided in Section 3.9, if Pfenex elects to continue the development of such Collaboration Product, the Parties shall discuss in good faith terms and conditions that are reasonable and customary in the pharmaceutical industry pursuant
to which Agila will transfer all Regulatory Approvals obtained or maintained by or on behalf of Agila under this Agreement with respect to such Collaboration Product (together with all relevant Regulatory Filings and correspondence with Regulatory
Authorities) and granting Pfenex a license to all technologies and associated intellectual property rights owned or controlled by Agila that are necessary or useful for the development and commercialization of such Collaboration Product. 

11.7 Survival. The provisions of Articles 1, 7, 9, 13 and 14, and Sections 4.3, 5.5, 5.6, 5.7, 10.1, 10.2.3, 10.3-10.7, 11.6,
11.7, 12.2 (last sentence) and 12.3 shall survive the termination of this Agreement for any reason. All other rights and obligations of the Parties shall cease upon termination of this Agreement. Except as otherwise expressly provided in this
Section 11.7, all other rights and obligations of the Parties shall terminate. 

  
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 Article 12 

REPRESENTATIONS AND WARRANTIES 

12.1 Mutual Representations and Warranties. Each Party represents and warrants to the other Party that: (a) as of the Effective
Date, it has the power and authority to enter into this Agreement and to perform its obligations hereunder and to grant to the other Party the rights granted to such other Party under this Agreement; (b) as of the Effective Date, it has
obtained all necessary corporate and other approvals to enter into and execute this Agreement; and (c) it is not, as of the Effective Date, a party to, nor will it enter into or assume during the Term, any contract or other obligation with a
Third Party that would in any way limit the performance of its obligations under this Agreement (d) this Agreement will, when executed, constitute valid and binding obligations on the Parties; and (e) entry into and performance by it of
this Agreement will not (i) breach any provision of its bylaws or equivalent constitutional documents; or (ii) result in a breach of any Applicable Laws in its jurisdiction of incorporation or of any order, decree or judgment of any court
or any Regulatory Authority, where any such breach would affect to a material extent its ability to enter into or perform its obligations under this Agreement. 

12.2 No Debarment. Each Party further represents and warrants that neither it, nor any of its Affiliates, nor any of their respective
employees or contractors involved in the performance of this Agreement have been “debarred” by the FDA pursuant to 21 U.S.C. § 335a or subject to a similar sanction from any Regulatory Authority in any other jurisdiction, nor
have debarment or similar proceedings against such Party, any of its Affiliates, or any of their respective employees or contractors involved in the performance of this Agreement been commenced. Each Party will promptly notify the other Party in
writing if any such proceedings are commenced or if such Party, any of its Affiliates, or any of their respective employees or contractors involved in the performance of this Agreement are debarred or similarly sanctioned by any Regulatory
Authority. 
 12.3 DISCLAIMERS. 

12.3.1 GENERAL. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY WARRANTIES (EXPRESS, IMPLIED, STATUTORY OR
OTHERWISE) WITH RESPECT TO THE SUBJECT MATTER HEREOF AND EACH PARTY EXPRESSLY DISCLAIMS ANY SUCH ADDITIONAL WARRANTIES, INCLUDING ANY IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY OR NONINFRINGEMENT OF INTELLECTUAL PROPERTY
RIGHTS. 
 12.3.2 PFENEX MATERIALS AND DELIVERABLES. EXCEPT AS PROVIDED IN SECTION 4.2, THE PFENEX MATERIALS AND DELIVERABLES ARE
PROVIDED “AS-IS.” 
 12.4 LIMITATION OF LIABILITY. NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR INDIRECT,
INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES INCLUDING, BUT NOT LIMITED TO LOST PROFITS ARISING FROM OR RELATING TO THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE 

  
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POSSIBILITY OF SUCH DAMAGES. HOWEVER, NOTHING IN THIS SECTION IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF EITHER PARTY UNDER ARTICLE13. 

Article 13 
 INDEMNIFICATION

 13.1 Pfenex. Pfenex shall indemnify, defend and hold harmless Agila, its directors, officers, employees, agents,
successors and assigns from and against any liabilities, expenses or costs (including reasonable attorneys’ fees and court costs) arising out of any claim, complaint, suit, proceeding or cause of action against any of them by a Third Party
resulting from: (a) the negligent or intentionally wrongful acts or omissions of Pfenex, its Affiliates and subcontractors during the performance of any Development Plan or (b) any breach by Pfenex of its representations and warranties
under this Agreement; in each case, subject to the requirements set forth in Section 13.3 below. Notwithstanding the foregoing, Pfenex shall have no obligations under this Article 13 for any liabilities, expenses or costs arising out of or
relating to claims to the extent covered under Section 13.2 below. 
 13.2 Agila. Agila shall indemnify, defend and hold
harmless Pfenex, its directors, officers, employees, agents, successors and assigns from and against all liabilities, expenses, and costs (including reasonable attorneys’ fees and court costs) arising out of any claim, complaint, suit,
proceeding or cause of action against any of them by a Third Party resulting from: (a) the negligent or intentionally wrongful acts or omissions of Agila, its Affiliates and subcontractors during the performance of any Development Plan or
(b) any breach by Agila of any of its representations and warranties under this Agreement; in each case, subject to the requirements set forth in Section 13.3 below. Notwithstanding the foregoing, Agila shall have no obligations under this
Article 13 for any liabilities, expenses or costs arising out of or relating to claims to the extent covered under Section 13.1 above. 

13.3 Indemnification Procedure. Any Party seeking indemnification under this Article 13 (the “Indemnitee”) shall:
(a) promptly notify the indemnifying Party (the “Indemnitor”) of such claim; (b) provide the Indemnitor sole control over the defense or settlement thereof; and (c) at the Indemnitor’s request and expense,
provide full information and reasonable assistance to Indemnitor with respect to such claims. Without limiting the foregoing, with respect to claims brought under Section 13.1 or 13.2 above the Indemnitee, at its own expense, shall have the
right to participate with counsel of its own choosing in the defense or settlement of any such claim. The indemnification under this Article 13 shall not apply to amounts paid in settlement of any claim if such settlement is effected without the
consent of the Indemnitor. 
 13.4 Insurance. Each Party will procure and maintain, at its own expense, insurance, with a financially
sound and reputable insurer, reasonably sufficient to cover such Party’s activities and its obligations under this Agreement with minimum coverage amounts customary for the activities of such Party hereunder in the jurisdiction(s) where such
activities are performed or such other minimums as the JSC may establish. Without limiting the foregoing, Agila shall procure and maintain clinical trial insurance with minimum coverage amounts customary for Phase I Clinical Trials in the
jurisdiction(s) where such clinical studies 

  
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are performed or such other minimums as the JSC may establish. Each Party will furnish at the request of the other Party a certificate(s) reflecting relevant insurance coverage and limits. Each
Party will name the other as an additional insured on the policies for the coverage required herein. 
 Article 14 

GENERAL PROVISIONS 

14.1 Affiliates. Each Party may perform any obligations and exercise any rights hereunder through any of its Affiliates. Each Party
hereby guarantees the performance by its Affiliates of such Party’s obligations under this Agreement, and will cause its Affiliates to comply with the provisions of this Agreement in connection with such performance. Any breach by a
Party’s Affiliate of any of such Party’s obligations under this Agreement will be deemed a breach by such Party, and the other Party may proceed directly against such Party without any obligation to first proceed against such Party’s
Affiliate. 
 14.2 Assignment. Each Party agrees that its rights and obligations under this Agreement may not be assigned or
otherwise transferred to a Third Party without the prior written consent of the other Party hereto. Notwithstanding the foregoing, either Party may transfer or assign its rights and obligations under this Agreement to (a) an Affiliate, subject
to the prior notice to the other Party and the assigning Party remaining responsible for such Affiliate’s performance or (b) a successor to all or substantially all of its business or assets relating to this Agreement whether by sale,
merger, operation of law or otherwise, without the prior written consent of the other Party; provided that such assignee or transferee has agreed to be bound by the terms and conditions of this Agreement. Subject to the foregoing, this Agreement
shall be binding upon and inure to the benefit of the Parties hereto, their successors and assigns. 
 14.3 Severability. If any
clause, provision, or Section of this Agreement attached hereto, shall, for any reason, be held illegal, invalid or unenforceable, the Parties shall negotiate in good faith and in accordance with reasonable standards of fair dealing, a valid,
legal, and enforceable substitute provision or provisions that most nearly reflect the original intent of the Parties under this Agreement in a manner that is commensurate in magnitude and degree with the changes arising as a result of any such
substitute provision or provisions. All other provisions in this Agreement shall remain in full force and effect and shall be construed in order to carry out the original intent of the Parties as ‘nearly as possible (consistent with the
necessary reallocation of benefits) and as if such invalid, illegal, or unenforceable provision had never been contained herein. 
 14.4
Merger of Understandings; Amendment. This Agreement (and the Exhibits attached hereto and Purchase Orders issued pursuant hereto) and the Quality Agreement constitute the entire agreement between the Parties regarding the subject matter
hereof and all prior negotiations and understandings between the Parties are deemed to be merged into this Agreement. No agreement or understanding varying or extending this Agreement shall be binding upon either Party hereto, unless set forth in a
writing which specifically refers to the Agreement signed by duly authorized officers or representatives of the respective Parties, and the provisions hereof not specifically amended thereby shall remain in full force and effect. 

  
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 14.5 Waiver. Any waiver of the terms and conditions hereof must be explicitly in writing
and executed by a duly authorized officer of the Party waiving compliance. The waiver by either of the Parties of any breach of any provision hereof by the other shall not be construed to be a waiver of any succeeding breach of such provision or a
waiver of the provision itself. The delay or failure of any Party at any time to require performance of any provision of this Agreement shall in no manner affect such Party’s rights at a later time to enforce the same. 

14.6 Notices. Any notice, report or other communication required or permitted to be given by either Party under this Agreement shall be
given in writing and may be delivered by hand, reputable international 3- or 4-day courier service or by mailing if mailed by registered or certified mail, postage prepaid and return receipt requested (or the international equivalent), or by email
or fax (with printed confirmation of transmission and with confirmation copy forwarded by reputable international 3- or 4-day courier service), addressed to each Party as follows. Such information may be updated by a Party upon written notice to the
other Party. A notice shall be deemed delivered upon receipt, unless the notice is received on a day other than a business day in the jurisdiction of the recipient or after 5:30 p.m. at the location of delivery, in which case delivery shall be
deemed to be the next business day after receipt (as determined in the jurisdiction of recipient). 
  

			
	For Pfenex:	  	Pfenex Inc.
		  	10790 Roselle Street
		  	San Diego, CA 92121
		  	Attn: Patrick Lucy
		  	Fax: +1 978 887-4972
		  	Email: PKL@Pfenex.com
		
	For Agila:	  	Agila Biotech Private Limited
		  	Strides House, Bilekahalli
		  	Bannergahtta Road,
		  	Bangalore 560 076, INDIA
		  	Attention: Legal Department
		  	Fax: + 91 80 6784 0700 / 800
		  	Email: legal@stridesarco.com

 14.7 Force Majeure. Neither of the Parties shall be liable for any default or delay in performance of
any obligation under this Agreement caused by any of the following: Act of God, war, terrorism, riot, fire, explosion, accident, flood, sabotage, compliance with governmental requests, laws, regulations, orders or actions, national defense
requirements or any other event beyond the reasonable control of such Party, or labor trouble, strike, lockout or injunction (provided that neither of the Parties shall be required to settle a labor dispute against its own best judgment). The Party
invoking the provisions of this Section14.7 shall give the other Party written notice and full particulars of such force majeure event. Both Pfenex and Agila shall use reasonable business efforts to mitigate the effects of any force majeure on their
respective part. 
 14.8 Relationship of the Parties. The relationship of Pfenex and Agila is strictly one of independent contractors
and the Parties acknowledge that this Agreement does not 

  
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create a joint venture, partnership, or the like, between them. Pfenex and Agila shall always remain independent contractors in its performance of this Agreement. Neither Party shall have any
authority to employ any individual as an employee or agent for or on behalf of the other Party to this Agreement for any purpose, and neither Party, nor any person performing any duties or engaging in any work at the request of such Party, shall be
deemed to be an employee or agent of the other Party. 
 14.9 Choice of Law. All questions with respect to the construction of this
Agreement and the rights and liabilities of the Parties hereto shall be determined in accordance with the laws of England and Wales, without regard to any provisions of conflicts of law and shall not be governed by the United Nations Convention on
Contracts for the International Sale of Goods. 
 14.10 Dispute Resolution. 

14.10.1 General. If the Parties are unable to resolve any dispute or other matter arising out of or in connection with this Agreement,
either Party may, by written notice to the other, have such dispute referred to the Chief Executive Officers of Parties for attempted resolution by good faith negotiations promptly after such notice is received. In such event, each Party shall cause
its Chief Executive Officers to meet (face-to-face or by teleconference) and be available to attempt to resolve such issue. If the Parties should resolve such dispute or claim, a memorandum setting forth their agreement will be prepared and signed
by both Parties if requested by either Party. The Parties shall cooperate in an effort to limit the issues for consideration in such manner as narrowly as reasonably practicable in order to resolve the dispute. 

14.10.2 Arbitration. In the event that the Parties are unable to resolve any such matter subject to Section 14.10.1 within sixty
(60) days from the date such dispute was referred to the Chief Executive Officers of the Parties, then either Party may initiate arbitration pursuant to this Section 14.10.2. Any arbitration under this Section 14.10.2 shall be
conducted in English under the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”) in Singapore by a single arbitrator mutually selected by the Parties or otherwise selected in accordance with such rules. In
such arbitration, the arbitrator shall select an independent expert with significant experience relating to the subject matter of such dispute to advise the arbitrator with respect to the subject matter of the dispute. If the Parties are unable to
agree on an arbitrator, the arbitrator shall be selected by the chief executive of SIAC. The costs of such arbitration shall be shared equally by the Parties, and each Party shall bear its own expenses in connection with the arbitration. The parties
shall use good faith efforts to complete arbitration under this Section 14.10.2 within sixty (60) days following the initiation of such arbitration. The arbitrator shall establish reasonable additional procedures to facilitate and complete
such arbitration within such sixty (60) day period. Nothing in this Agreement shall limit the right of either Party to seek to obtain in any court of competent jurisdiction any equitable or interim relief or provisional remedy, including
injunctive relief. 
 14.11 Provisions Contrary to Law. In performing this Agreement, the Parties shall comply with all Applicable
Laws. Nothing in this Agreement shall be construed so as to require the violation of any law, and wherever there is any conflict between any provision of this Agreement and any law the law shall prevail, but in such event the affected provision of
this Agreement shall be affected only to the extent necessary to bring it within the Applicable Laws. 

  
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 14.12 Legal Fees. Except as otherwise provided herein, each Party shall bear its own legal
fees incurred in connection with the transactions contemplated hereby or the enforcement hereof. 
 14.13 Headings. Headings herein
are for convenience of reference only and shall in no way affect interpretation of this Agreement. 
 14.14 Counterparts. This
Agreement may be executed in any number of counterparts with the same effect as if all Parties had signed the same document. All such counterparts shall be deemed an original, shall be construed together and shall constitute one and the same
instrument. 
 14.15 Exhibits. The appended Exhibits and any modifications or amendments thereof form an integral part of this
Agreement. 
 [The remainder of this page left blank intentionally; signature page follows immediately behind] 

  
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 CONFIDENTIAL 

EXECUTION COPY 
 IN WITNESS WHEREOF,
the Parties hereto have caused their duly authorized representatives to execute this Agreement as of the Effective Date. 
  

									
	PFENEX INC.	 		 	AGILA BIOTECH PRIVATE LIMITED
					
	By:	 	 /s/ Bertrand C. Liang
	 		 	By:	 	 /s/ Anand Iyer

					
	Name:	 	 Bertrand C. Liang
	 		 	Name:	 	 Anand Iyer

					
	Title:	 	 CEO
	 		 	Title:	 	 CEO

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Exhibit 1 

Milestones and Timelines 

[*] 

  
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 Exhibit 2 

Amounts to be reimbursed 
 Agila will
reimburse Pfenex for amounts incurred as of the Effective Date with respect to the conduct of activities for cGMP manufacturing, toxicology or any [*] for the Collaboration Product comprising [*] within thirty (30) days of receipt of invoice
therefor and other customary documentation. Without limiting the foregoing, the Parties will discuss how to address any other amounts due under the existing agreements with Syngene International Limited and Novotech (Australia) Pty Limited including
assigning such agreements to Agila. 
 [*] 

[*] 

  
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 Exhibit 3 

Exceptions to Exclusivity 

[*] 

  
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 Exhibit 10.7 

CONFIDENTIAL TREATMENT REQUESTED 

CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED AND HAVE BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. INFORMATION THAT WAS
OMITTED IN THE EDGAR VERSION HAS BEEN NOTED IN THIS DOCUMENT WITH A PLACEHOLDER IDENTIFIED BY THE MARK “[*].” 
 CONFIDENTIAL

 EXECUTION COPY 

PFENEX INC. 

AND 
 AGILA
BIOTECH PRIVATE LIMITED 
 JOINT VENTURE AGREEMENT 

 
 [*] Certain information in this document has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 JOINT VENTURE AGREEMENT 

This Joint Venture Agreement (this “Agreement”) is made as of the 7th
day of March 2013 (the “Effective Date”), by and between Pfenex Inc., a Delaware corporation with a principal place of business located at 10790 Roselle Street, San Diego, CA 92121 (“Pfenex”), and Agila Biotech
Private Limited, an India corporation with a principal place of business located at Strides House, Bilekahalli, Bannerghatta Road, Bangalore 560 076, India (“Agila”). Pfenex and Agila may be referred to individually as a
“Party” or together as the “Parties.” 
 BACKGROUND 

A. Pfenex has a proprietary Pseudomonas fluorescens protein expression platform, which is used to accelerate the development and
production of bio-therapeutics and vaccines; 
 B. Agila is engaged in the business of developing, manufacturing and supplying therapeutic
biological products for research and development and commercial purposes; 
 C. Pursuant to a Joint Development and License Agreement
entered into by the Parties dated December 31, 2012 (the “JDLA”), the Parties will develop certain therapeutic biological products manufactured using the Pfenex Expression Technology (as defined in section 1.18 of the JDLA)
through the completion of the first Phase I Clinical Trial (as defined in section 1.19 of the JDLA) for each such product in accordance with the terms and conditions of this Agreement; 

D. Pfenex and Agila wish to establish a joint venture company to further develop and commercialize one or more such products after the
completion of the first Phase I Clinical Trial pursuant to the terms and conditions of this Agreement and the applicable plan and budget mutually agreed by the Parties. 

NOW, THEREFORE, in consideration of the mutual covenants and premises herein contained and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged by the Parties, the Parties agree as follows: 
 1. DEFINITIONS AND INTERPRETATIONS 

Initially capitalized terms shall have the meanings set forth below or defined elsewhere in the Agreement. And if not defined in this
Agreement, shall have the meanings assigned to them in the MLA. In the event any initially capitalized term used in this Agreement is defined both in this Agreement and the JDLA, the definition set forth in this Agreement shall control for the
purposes of this Agreement. 
 1.1. “Acceptable Third Party Supplier” means a Third Party supplier that holds all necessary
licenses and permits, including relevant GMP certification and permissions, required by Applicable Laws to manufacture the relevant JVC Product or component thereof and meets the JVC quality specifications. 

1.2. “Affiliate” means, with respect to a Person (as defined in section 1.17 of the JDLA), any other Person controlling,
controlled by or under common control with such first Person, for so 

  
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long as such control exists. For the purposes of this definition only, “control” means: (a) to possess, directly or indirectly, the power to direct the management and policies of
such Person, whether through ownership of voting securities or by contract relating to voting rights or corporate governance; or (b) ownership of more than fifty percent (50%) of the voting securities in such Person (or such lesser percent
as may be the maximum that may be owned pursuant to Applicable Laws of the country of incorporation or domicile, as applicable) or is a subsidiary of the same entity of which a Party is a subsidiary. For clarity, for purposes of this Agreement, the
JVC shall not be deemed an Affiliate of either Party. 
 1.3. “Applicable Laws” means any laws, statutes, rules,
regulations, directives, or ordinance applicable to the JVC or the activities contemplated hereunder, together with any judgments, orders; notices, instructions, decisions, standards, guidance and awards, each having the force of law, issued by a
court or competent authority or tribunal or a Regulatory Authority to which the JVC is subject, including as applicable, GCP (as defined in section 1.10 of the JDLA), GLP (as defined in section 1.12 of the JDLA), GMP (as defined in section 1.11 of
the JDLA). 
 1.4. “Background Technology” means, with respect to a Party, any and all technology, know-how, technical
information and other technical subject matter, and all intellectual property rights therein, in each case Controlled by such Party or its Affiliates as of the Effective Date or otherwise developed or acquired by or on behalf of such Party outside
the performance of this Agreement, in each case that are necessary for the development and commercialization of JVC Products under this Agreement. For clarity, (i) Pfenex’s Background Technology includes the Pfenex Expression Technology,
including to the extent it is embodied in the applicable Pfenex Materials and Deliverables (as defined in section 4.1.1 under the JDLA) with respect to any JVC Product, and (ii) in the event JVC Products include any PEGylated product,
Agila’s Background Technology includes the PEGylation technology developed and/or acquired by Agila as provided in section 10.1 of the JDLA. 

1.5. “Business Day” means a day (other than Saturday, Sunday or a public holiday) on which banks generally are open in the
United States of America and India for a full range of business. 
 1.6. “Clinical Trial” means any clinical trial of a JVC
Product to be conducted pursuant to a Plan and Budget or Semi-annual Plan and Budget. For clarity, Clinical Trials shall not include any Phase I Clinical Trial conducted pursuant to the JDLA. 

1.7. “Committee” means each of the Operations Committee and Finance Committee. 

1.8. “Completion Date” means a date when all the conditions listed in Section 2.4 are fully satisfied. 

1.9. “Control” means the possession (whether by ownership, license or other authorization), as of the Effective Date or
during the Term, of (a) with respect to materials, data or information, physical possession or the right to such physical possession of those items, and the right to provide them to others (including the other Party) in accordance with this
Agreement; and (b) with respect to intellectual property rights, the right sufficient to grant the applicable license or sublicense under this Agreement; in each case without violating the terms of any agreement with

  
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any Third Party. Notwithstanding anything to the contrary in this Agreement, the following shall not be deemed to be Controlled by a Party: (i) any materials, data, information or
intellectual property owned or licensed by any Acquiring Entity immediately prior to the effective date of merger, consolidation or transfer, and (ii) any materials, data, information or intellectual property that any Acquiring Entity
subsequently develops independently, without accessing or practicing the Pfenex Background Technology (in the case of an Acquiring Entity of Pfenex) or the Agila Background Technology (in the case of an Acquiring Entity of Agila). As used herein,
“Acquiring Entity” means a Third Party that merges or consolidates with or acquires a Party, or to which a Party transfers all or substantially all of its assets to which this Agreement pertains. 

1.10. “Financial Year” means each period of twelve (12) months commencing on 1st January of a calendar year and
ending on December 31st of the same calendar year or such other period as the Board may determine in accordance with Applicable Laws except with respect to the first Financial Year for the JVC which shall run from the Completion Date to the
immediately following December 31st. 
 1.11. “JVC” means the joint venture company proposed to be incorporated by the
Parties under this Agreement. 
 1.12. “SVC Product” means any Collaboration Product that is transferred to the JVC
pursuant to section 3.9 of the JDLA. 
 1.13. “JVC Venue” means the jurisdiction of incorporation of the JVC, which shall
be selected by the Parties in accordance with Section 2.1 from one of the following countries: Singapore or Malaysia. 
 1.14.
“Manufacturing Cost” means, with respect to a JVC Product, the cost incurred by a manufacturer in the manufacturing of JVC Product, including the aggregate of such manufacturer’s costs for testing, labor, raw material,
components, labeling, packaging, and other costs (including manufacturing overhead) directly allocable to manufacture and quality assurance; provided that Manufacturing Cost shall not include any such costs incurred due to such manufacturer’s
gross negligence or willful misconduct. For clarity, Manufacturing Cost shall exclude general administrative or corporate overhead, sales and marketing expenses, research and development costs, interest expenses and any other costs not directly
attributable or allocable to the manufacture of the applicable JVC Product, including idle capacity charges as the result or consequence of the plant being idle or a manufacturing line not being used (not including, for example, normal maintenance,
changeovers or related activities). Manufacturing Cost shall be determined and allocated to each JVC Product (a) in accordance with such manufacturer’s accepted costing standards and all applicable generally acceptable cost and accounting
standards as consistently applied by such manufacturer and (b) as reported in the manufacturer’s external financial results. The manufacturer shall use commercially reasonable efforts to operate the facility(ies) in which the applicable
JVC Product is manufactured within their plant capacity utilization targeted range and to minimize the Manufacturing Costs for such JVC Product. 

1.15. “Marketing Approval” means, with respect to a JVC Product in a particular jurisdiction, all approvals, licenses,
registrations or authorizations necessary for the commercialization of such JVC Product in such jurisdiction, including only where mandatory for commercialization of such JVC Product, any necessary pricing or reimbursement approval. 

  
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 1.16. “Regulatory Approval” means all approvals, licenses, clearances,
registrations or authorizations received from any Regulatory Authority in response to a Regulatory Filing together with all necessary approvals by any regulatory advisory board (e.g. institutional review board and ethics committee), including
Marketing Approval. 
 1.17. “Regulatory Authority” means any federal, national, multinational, state, provincial or local
regulatory agency, department, bureau or other governmental entity ‘with authority over the development, manufacture or other commercialization (including the granting of Regulatory Approvals) of any JVC Product in any jurisdiction, including
the Drugs Controller General of India, European Medicines Agency and the United States Food and Drug Administration (“FDA”) and, in each case, any successor entity thereto. 

1.18. “Regulatory Filings” means any submission made to a Regulatory Authority with respect to a pharmaceutical or medicinal
product, including any application necessary to commence or conduct clinical testing of such product in humans, any submission to a regulatory advisory board with respect to such product, any application to market such product, and in each case any
supplement or amendment to any of the foregoing. 
 1.19. “Shareholders” shall mean each of Pfenex and Agila. 

1.20. “Shares” means the equity shares of the JVC, each having a face value to be established in accordance with
Section 2.1. 
 1.21. “Territory” means worldwide. 

1.22. “Third Party” means an entity other than Pfenex, Agila, their respective Affiliates and the JVC. 

1.23. Additional Defined Terms. 
 Each of
the following terms shall have the meaning described in the corresponding section of this Agreement indicated below: 
  

			
	 Term
	  	 Section of this Agreement Defined

	Acceptance Notice	  	9.2.3
	Acceptance Period	  	9.2.3
	Appointing Party	  	4.1
	Appraiser	  	14.5.1
	Articles of Association	  	5.1
	Board	  	4.1
	Call Option	  	14.4.3
	Call Option Exercise Notice	  	14.4.3
	Call Option Purchase Price	  	14.4.3
	Call Option Sold Equity	  	14.4.3

  
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	Chairman	  	4.1
	Confidential Information	  	12.1
	Cure Period	  	14.4.2
	Defaulting Party	  	14.4.1
	Director	  	4.1
	Disclosing Party	  	12.1
	Disposing Shareholder	  	9.2.1
	Event of Default	  	14.4.1
	Finance Committee	  	6.2
	Incorporation Permit	  	2.3
	Indemnitee	  	16.4
	Indemnitor	  	16.4
	Interim Transfer Price	  	13.3
	JDLA	  	Background
	JVC Auditor	  	8.2
	JVC Successor	  	14.7
	JVC Technology	  	11.3
	Losses	  	16.1
	Manufacturing Agreements	  	7.1.1
	Meeting Coordinator	  	4.4.3
	Non-Defaulting Party	  	14.4.2
	Non-Disposing Shareholder	  	9.2.1
	Notice of Default	  	14.4.2
	Notice of Election	  	14.3.1
	Offer	  	14.3.1
	Offer Price	  	9.2.2
	Offered Party	  	14.3.1
	Offered Share	  	9.2.2
	Offered Tag Share	  	9.2.3
	Offering Party	  	14.3.1
	Operations Committee	  	6.1.1
	Ownership Interest	  	3.1
	Pfenex Improvements	  	11.3
	Purchase Price Certificate	  	14.5.2
	Put Option	  	14.4.4
	Put Option Exercise Notice	  	14.4.4
	Put Option Purchase Price	  	14.4.4
	Put Option Sold Equity	  	14.4.4
	Quality Agreement	  	7.1.3
	Ratification Date	  	3.3
	Receiving Party	  	12.1
	Right of First Refusal	  	9.2.1
	Semi-annual Plan and Budget	  	6.1.1
	Shareholder Reserved Matter	  	5.5
	SIAC	  	17.10.2
	Subcommittee	  	6.1.2
	Supply Price	  	7.1.2
	Tag-Along Notice	  	9.2.3
	Tag-Along Right	  	9.2.1
	Term	  	14.1
	Valuation Price	  	14.5.1

  
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 Each of the following terms shall have the meaning described in the corresponding section of the JDLA indicated
below: 
  

			
	 Term
	  	 Section of the JDLA Defined

	Collaboration Product	  	1.6
	Facility	  	1.9
	GCP	  	1.10
	GLP	  	1.12
	GMP	  	1.11
	Malaysian Facility	  	1.9
	PEGylation	  	1.16
	Person	  	1.17
	Pfenex Expression Technology	  	1.18
	Pfenex Materials and Deliverables	  	4.1.1
	Phase I Clinical Trial	  	1.19
	Plan and Budget	  	3.9

 1.24. Interpretation. The captions and headings to this Agreement are for convenience only, and are to
be of no force or effect in construing or interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Articles, Sections or Exhibits mean the particular Articles and Sections of or Exhibits to this Agreement
and references to this Agreement include all Exhibits hereto. Unless context clearly requires otherwise, whenever used in this Agreement: (i) the words “include” or “including” shall be construed as incorporating, also,
“but not limited to” or “without limitation;” (ii) the word “or” shall have its inclusive meaning of “and/or;” (iii) the word “day” or “quarter” or “year” means a
calendar day or calendar quarter or calendar year unless otherwise specified; (iv) the word “notice” shall require notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and other written
communications contemplated under this Agreement; (v) the words “hereof,” “herein,” “hereunder,” “hereby” and derivative or similar words refer to this Agreement (including any Exhibits);
(vi) provisions that require that a Party or the Parties hereunder “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in writing, whether by written
agreement, letter or otherwise; (vii) words of any gender include the other gender; (viii) words using the singular or plural number also include the plural or singular number, respectively; (ix) references to any specific law, or
article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement thereof; and (x) provisions that refer to Persons acting “under the authority of Pfenex” shall include
Pfenex’s Affiliates or licensees, as applicable, and those Persons acting “under the authority of Agila” shall include Agila’s Affiliates or sublicensees, as applicable; conversely, those Persons acting “under the authority
of Pfenex” shall exclude JVC, Agila, its Affiliates and sublicensees, as applicable, and those Persons acting “under the authority of Agila” shall exclude JVC, Pfenex, its Affiliates and licensees, as applicable. 

  
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	2.	ESTABLISHMENT OF JOINT VENTURE COMPANY 

 2.1. JVC Venue. As soon as practicable
after the Effective Date, the Parties shall select the JVC Venue from Singapore and Malaysia based on the overall economic advantage offered by either jurisdiction and other relevant factors as the Parties may mutually deem appropriate. Promptly
after the selection of the JVC Venue, the Parties agree to amend this Agreement to (i) specify the selection of the JVC Venue, (ii) make other changes to the extent necessary or appropriate to comply with Applicable Laws of the JVC Venue,
(iii) specify the face value for the Shares; (iv) modify those tax-related provisions for the purpose of minimizing each Party’s tax liabilities arising from its activities under this Agreement to the extent legally permissible; and
(v) take such other actions and complete such documentation as necessary or appropriate in connection with the incorporation of the JVC in the JVC Venue. 

2.2. Business Scope. The JVC’s business scope shall be the development and commercialization of JVC Products in the Territory.

 2.3. Establishment. Promptly after the Effective Date, Agila shall apply for and obtain all governmental approvals, licenses and
permits necessary for the incorporation of the JVC and each Party’s investment therein (collectively, the “Incorporation Permits”). Pfenex shall reasonably cooperate with Agila in such activities, including by providing all
documents in its possession that are necessary or reasonably useful for Agila’s performance of such activities. Agila shall keep Pfenex informed on the status of any Incorporation Permits. Reasonably in advance of the submission of any material
filings or correspondences with applicable governmental authorities with respect to any Incorporation Permits, Agila shall provide a copy of such documents to Pfenex for its review and shall incorporate any reasonable comments and suggestions
provided by Pfenex with respect thereto. Agila shall make available copies of any material filings or correspondence with applicable governmental authorities with respect to any Incorporation Permits promptly after such filings or correspondences
have been submitted. All costs incurred by each Party under this Section 2.3 will be reimbursed by the JVC as pre-operations expenses after the initial capital contribution of the JVC is completed. 

2.4. Completion. The establishment of the JVC shall be deemed completed upon the completion of the following: 

2.4.1 The incorporation of the JVC and receipt of all Incorporation Permits; 

2.4.2 The issuance of Shares to each Party, in accordance with Article 3 below; and 

2.4.3 The appointment of the Directors, in accordance with Article 4 below. 

2.5. Obligations of the Parties. Pfenex and Agila agree to participate as shareholders of and joint venture partners in the JVC and to
exercise their respective voting rights and to cause the Directors respectively nominated or appointed by them to serve on the Board or committees of the JVC to vote at Board and committee meetings and otherwise in such manner as duly to perform,

  
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effectuate and implement the terms and conditions of this Agreement and to prevent the taking by the JVC or by them or by any of them or by any Third Party of any action contrary to, or
inconsistent with, the terms of this Agreement. 
 2.6. Corporate Name. The JVC shall be incorporated with such name as may be
mutually agreed by the Parties. 
 2.7. Registered Office. The Parties agree that the registered office of the JVC shall initially be
located at a mutually-agreed city within the JVC Venue. Any change in the location of the registered office shall be subject to the mutual agreement of the Parties. 
  

	3.	CAPITAL CONTRIBUTIONS. 

 3.1. Ownership. Pfenex and Agila shall each make initial
capital and other contributions of rights and assets necessary to establish the JVC in accordance with this Agreement and Applicable Laws, including any applicable pricing guidelines in the JVC Venue. In consideration for such contributions, Pfenex
shall be issued and own forty-nine percent (49%) of the Shares, and Agila shall be issued and own fifty-one percent (51%) of the Shares (such percentages, the Parties’ respective “Ownership Interest”). 

3.2. Issuance of Shares. Promptly after the incorporation of the JVC, the Parties shall subscribe to the Shares in the manner provided
in Section 3.1 and for that purpose, take all necessary steps and credit the respective Share subscription monies to an account designated by the JVC for this purpose. Upon receipt of the Share subscription monies into the designated account of
the JVC, the JVC shall allot and issue the Shares to the Parties, in proportion to their Ownership Interests, and deliver to the Parties one or more original share certificates and other instruments, if any, evidencing the subscription of the
aforesaid Shares. The Parties shall ensure that the JVC takes all corporate steps necessary for issuance of the Shares in the manner contemplated under Section 3.1, makes all necessary filings, pays all filing fees, stamp duty and other
governmental fees, and takes all other steps required to be followed by the JVC under Applicable Laws to ensure that the Shares are validly issued and that the names of the Parties are reflected in the in the records of the JVC (including in the
register of members of the JVC) as the registered owners of such Shares. 
 3.3. Capital Contributions. It is understood that prior
to the inclusion of a JVC Product within the business scope of the JVC, the Parties will agree to a Plan and Budget (as defined in section 3.8 of the JDLA) for the development and commercialization of such JVC Product pursuant to the JDLA. Each such
Plan and Budget will set forth a detailed development plan and the funding requirements for the continued development of such JVC Product during the first six (6)-month period following completion of the first Phase I Clinical Trial for such JVC
Product pursuant to the JDLA, as well as a high level plan and budget to advance the applicable JVC Product through development to commercialization. Upon ratification of the Plan and Budget for a JVC Product by the Board (such date, the
“Ratification Date”), each Party will contribute funding to the JVC to meet the requirements for the first six (6)-month period under such Plan and Budget in proportion to its Ownership Interest. It is understood that no development
or commercialization activities (excluding the development activities conducted by the Parties pursuant to the JDLA) shall be initiated by or on behalf of the JVC prior to the ratification of a Plan and Budget for the applicable JVC Product by the
Board. 

  
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 3.4. Future Funding Obligations. Each Party acknowledges that upon inclusion of a JVC
Product within the scope of the JVC, the JVC should be adequately funded to initiate the Plan and Budget for such JVC Product during the following six (6)-month period. Furthermore, on each six (6)-month anniversary of the Ratification Date for a
JVC Product, the JVC should be adequately funded to perform its activities in the following six (6)-month period as set forth in the applicable Semi-annual Plan and Budget. In the event any additional funding is required within any such six
(6)-month period, the Operations Committee shall propose an amendment to the applicable Semi-annual Plan and Budget for the Board’s approval. Upon the Board’s approval of such amendment, each Party shall contribute any additional capital
required by such amended Semi-annual Plan and Budget in accordance with their respective Ownership Interests. Accordingly, each Party agrees to provide funding to the JVC in accordance with its obligations under each Plan and Budget and each
Semi-annual Plan and Budget, and each Party further agrees that neither Party will be required under the terms of this Agreement to provide any further share capital, shareholder loans or other funding to the JVC unless otherwise mutually agreed by
the Parties pursuant to the terms and conditions set forth in the applicable Plan and Budget or Semi-annual Plan and Budget. 
  

	4.	BOARD OF DIRECTORS 

 4.1. Establishment. Promptly after the incorporation of the
JVC, the Parties shall establish the board of directors of the JVC (the “Board”) to manage and oversee the activities of the JVC. The Board will be composed of four (4) directors (each, a “Director”), two
(2) of which shall be designated by Pfenex and two (2) of which shall be designated by Agila. The Chairman of the Board (“Chairman”) shall be a senior member from the Appointing Party who will hold the position for six
(6) months. Each Party (the “Appointing Party”) will appoint the Chairman on a rotating basis, with Agila as the first Appointing Party. It is understood that the appointment of Chairman is solely for administrative purposes.
The Chairman shall not have a second or casting vote or any other authority or responsibility except as expressly set forth in this Agreement. If the Chairman is not present at any meeting of the Board, the Directors present may appoint anyone of
the Board members present to act as Chairman for the purposes of such meeting. Each Party shall have the right to replace any Director appointed by such Party by providing written notice to the other Party. If a seat on the Board is vacated by the
retirement, removal, resignation, illness, disability or death of any Director, the Party that originally appointed such Director shall appoint a successor to serve out such Director’s term. Each Party shall be solely responsible for the salary
and other compensation to the Directors appointed by such Party, including all costs and expenses incurred by such Directors in attending any Board meetings. 

4.2. Board Responsibilities. The role of the Board shall be: 

4.2.1 to ratify each Plan and Budget; 

4.2.2 to coordinate and oversee the transfer of each JVC Product to the JVC; 

4.2.3 to review and approve each Semi-annual Plan and Budget and any amendment thereto; 

  
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 4.2.4 to manage and oversee the development and commercialization of each JVC Product (including
manufacturing thereof), including all regulatory activities required or otherwise conducted in connection therewith; 
 4.2.5 to monitor
each Clinical Trial conducted pursuant to a Plan and Budget or Semi-annual Plan and Budget; 
 4.2.6 to provide a forum for the Parties to
exchange information with respect to matters pertaining to and status of the performance of each Plan and Budget and Semi-annual Plan and Budget; and 

4.2.7 to perform such other functions as appropriate to further the purposes of this Agreement, as expressly set forth hereunder or otherwise
agreed in writing by the Parties. 
 4.3. Decision-making. Each Director will be entitled to one vote on all matters presented for a
vote to the Board. All decisions to be made by the Board, except in case of matters set out in Exhibit 1 of this Agreement, will require the approval of the Board by majority vote with a quorum of the Directors present. A quorum shall
exist if a majority of the total number of Directors is present, which majority must include at least one (1) Director designated by Agila and one (1) Director designated by Pfenex. In the event of a deadlock on any matter, such matter
will be resolved in accordance with Section 17.10. 
 4.4. Board Meetings. 

4.4.1 Meetings of the Board shall take place in accordance with Applicable Laws. A meeting of the Board shall be held at least once in every
calendar quarter and at least four meetings shall be held in every calendar year. Board meetings may be conducted physically or by such other methods as may be permitted by Applicable Laws, including by video conference or teleconference. A meeting
of the Board may be called at the request of either Party through its Meeting Coordinator by giving not less than five (5) Business Days’ advance notice in writing to all other Directors unless such notice is waived by an affirmative vote
of at least one Director appointed by Agila and one Director appointed by Pfenex. Every such notice of a meeting of the Board shall be given in writing to every Director at his/her usual address, or such address as may have been expressly notified
by such Director to the JVC. 
 4.4.2 Every notice of meeting shall specify the place or method, the day and hour of the meeting and shall
be accompanied by a meeting agenda and supporting documents relevant to the consideration of each matter included in such meeting agenda. Notwithstanding the foregoing, with the written approval of at least one (1) Agila Director and one
(1) Pfenex Director, the Board may consider any matter which was not earlier included in the agenda for the meeting. 
 4.4.3 Without
limiting any quorum requirement mandated by Applicable Laws, no Board meeting shall be validly held unless at least one Agila Director and one Pfenex Director are present at such meeting. Each Party shall designate one of the Directors appointed by
such Party as a coordinator for the Board meetings (each, a “Meeting Coordinator”). Each Party may change its designation of its Meeting Coordinator by written notice to the other Party. The Meeting Coordinator who has called for a
Board meeting on behalf of its appointing Party shall (a) coordinate and prepare the agenda and ensure the orderly conduct of such Board meeting, 

  
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(b) attend such Board meeting, and (c) prepare and issue minutes of such Board meeting within ten (10) Business Days thereafter accurately reflecting the discussions and decisions
of the Board at such meeting. 
 4.4.4 For clarity, the first Board meeting shall be convened as soon as practicable after the Completion
Date, but in any event within thirty (30) days of the Completion Date. Notwithstanding anything to the contrary, at least two (2) months in advance of the anticipated date for the first Board meeting, the Parties shall discuss and agree on
a meeting agenda setting forth all subject matters to be discussed and approved by the Board during the first Board meeting. 
  

	5.	SHAREHOLDER’S MEETING. 

 5.1. General. An annual general meeting of the
Shareholders shall be held within six (6) months following the end of each Financial Year of the JVC such that not more than fifteen (15) months should elapse, between one annual general meeting and the next annual general meeting of the
Parties. The Board shall circulate the audited financial statements of the JVC for the Financial Year most recently ended prior to the date of the annual general meeting to the Shareholders at least thirty (30) days before the annual general
meeting held to approve and adopt the audited financial statements. The Shareholders shall use all reasonable efforts to cause the annual general meeting of the Shareholders to be held on the same day and location as a regular meeting of the Board
and each Shareholder shall authorize a Director appointed by such Shareholder, in writing prior to the applicable Shareholders’ meeting, as its representative for the Shareholder’s meeting and such representative shall be entitled to
exercise all of the powers of such Shareholder on its behalf at such meeting, but shall not otherwise have or hold any economic or other ownership interest in the JVC. The Chairman shall preside as chairman of each general meeting of the Parties of
the JVC. The Chairman shall call general meetings of the Shareholders of the JVC as directed by the Board and include as agenda items for meetings of the Shareholders items specified by the Board. The Shareholders may call special meetings of the
Shareholders to the extent permitted by the Articles of Association of the JVC (the “Articles of Association”) and Applicable Laws. 

5.2. Notice of Shareholders’ Meetings. 

5.2.1 For each meeting of the Shareholders, written notice of the time and place of such meeting shall be given by or at the direction of the
Chairman with at least twenty-one (21) days prior to such meeting, unless a shorter notice period is agreed to by the Shareholders in accordance with the Articles of Association. 

5.2.2 Each notice of a meeting of the Shareholders shall contain, among other things, the date, time and venue of the proposed meeting of the
Shareholders and also an agenda specifying, in reasonable detail, the matters to be acted upon at the relevant meeting and shall be accompanied by all appropriate supporting information. Such notice of every meeting shall be given in writing to the
Shareholders at their usual address, or such address as may have been expressly notified by them to the JVC. The required notice to the Shareholders may be waived to the extent permitted by the Articles of Association and Applicable Laws. 

5.2.3 No meeting of the Shareholders shall be considered to be validly constituted unless the proper notice as contemplated in this
Section 5.2 has been served or waived to the extent permitted by the Articles of Association and Applicable Laws. 

  
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 5.3. Location of Shareholders’ Meetings. Meetings of the Shareholders shall be held
in location(s) mutually agreed by the Parties. To the extent permitted by Applicable Laws, the Shareholders may participate in any meeting of the Shareholders through the use of telephones, video conference or similar communications equipment by
means of which all individuals participating in the meeting can hear and speak to each other and such participation shall constitute presence in person at the meeting. 

5.4. Quorum for Shareholders’ Meetings. 

5.4.1 Without limiting any quorum requirement mandated by Applicable Laws, no meeting of the Shareholders’ shall be validly held unless
such meeting is attended by two (2) Shareholder representatives present in person, of which one (1) shall be a duly authorized representative or proxy of Pfenex and one (1) shall be a duly authorized representative or proxy of Agila.

 5.4.2 No meeting of the Shareholders shall vote or resolve any matter which is not specified on the agenda for that meeting, unless with
the prior consent of the Shareholder(s) constitute a quorum at such meeting. 
 5.4.3 Each Shareholder shall use all reasonable efforts to
ensure the existence of a quorum at any meeting of the Shareholders duly called by the Chairman or the Shareholders. 
 5.4.4 The
Shareholders shall have voting rights as provided .in the Articles of Association and Applicable Laws. 
 5.5. Shareholder Reserved
Matter. The Parties agree that no action shall be taken by the Board, nor shall the Parties request or permit the taking of any action by the Board, with respect to any matters set out in Exhibit 1 of this Agreement (each, a
“Shareholder Reserved Matter”) unless such Shareholder Reserved Matter has been approved by both the Shareholders. 
 5.6.
Written Resolutions. Subject to the Articles of Association and Applicable Laws, a resolution in writing signed by or on behalf of each of the Shareholders entitled to receive notice of a meeting of Shareholders shall be as valid and
effective for all purposes as a resolution of Shareholders duly passed at a general meeting of the JVC duly convened, held and constituted provided that when a Shareholder has signed a resolution by fax, the original of the signed copy shall be
deposited with the JVC in its registered office or such other office as the JVC may designate for this purpose from time to time by such Shareholder as soon as possible thereafter. Any such resolution may consist of several documents, provided that
each such document is signed by one or more Shareholders. 
 5.7. Shareholders’ Expenses. All travel, accommodation and other
incidental expenses of the Shareholder representatives for attending any meeting of the Shareholders in person (including expenses incurred in travelling to and from such meetings) shall be borne by the respective Shareholders. 

  
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	6.	MANAGEMENT 

 6.1. Operations Committee. 

6.1.1 Promptly after the Completion Date, the Board shall appoint an operations committee (which will consist of an equal number of
representatives from both Agila and Pfenex) to carry out the day-to-day management and operations of the JVC (the “Operations Committee”). On a JVC Product-by-JVC Product basis, the Operations Committee will prepare and update at
least semi-annually a proposed plan and budget for the development and/or commercialization activities to be carried out by the JVC during the following six (6)-month period for each JVC Product (each, a “Semi-annual Plan and
Budget”), which shall be consistent with the applicable Plan and Budget agreed by the Parties under section 3.9 of the JDLA and ratified by the Board, and shall submit each Semi-annual Plan and Budget to the Board for approval. Each
Semi-annual Plan and Budget, as approved by the Board, shall be followed by the JVC during the following six (6)-month period. 
 6.1.2 The
Operations Committee shall be comprised of the following subcommittees (each will consist of an equal number of representatives from both Agila and Pfenex): (a) a preclinical, clinical and regulatory subcommittee to manage and make any
day-to-day decisions necessary to implement any preclinical or clinical studies and regulatory activities set forth in each Plan and Budget and Semi-annual Plan and Budget; (b) a chemistry, manufacturing, and controls (CMC) subcommittee to
manage and make all day-to-day decisions necessary to implement any manufacturing-related activities set forth in each Plan and Budget and Semi-annual Plan and Budget; (c) a commercialization subcommittee to (i) propose
business/commercialization strategies and priorities with respect to the JVC Products for the review and approval of the Operations Committee and (ii) manage and make all day-to-day decisions with respect to the commercialization of each JVC
Product in accordance with the applicable Semi-annual Plan and Budget, and (d) an intellectual property subcommittee to develop and implement the intellectual property strategy with respect to JVC Technology and manage the prosecution,
maintenance and enforcement of patents and patent applications claiming any JVC Technology (each of (a)-(d), a “Subcommittee”). 

6.2. Finance Committee. The Parties will appoint a finance committee (which will consist of an equal number of representatives from
both Agila and Pfenex) to (i) help the Operations Committee to establish detailed budget in each Plan and Budget and Semi-annual Plan and Budget, (ii) establish accounting systems and procedures to accurately account costs and expenses
incurred and revenues generated under each Plan and Budget and Semi-annual Plan and Budget and allocate profits and losses among the JVC Products; (iii) coordinate and conduct the accounting, reporting, reconciliation and other related
financial matters of the JVC, (iv) advise and provide support to the Operations Committee and the Board with respect to financial, accounting, budgeting, financial reporting, and other issues that may arise in connection with any Plan and
Budget or Semi-annual Plan and Budget, or activities thereunder, (v) provide periodic updates to the Board on financial matters relating to development and commercialization activities under this Agreement, and (vi) undertake and/or
approve such other matters as are specifically provided for such committee under the Agreement, or otherwise by the Board (the “Finance Committee”). Each member of the Finance Committee shall have reasonable expertise in the areas
of accounting, cost allocation, budgeting, and financial reporting in the pharmaceutical industry, and at least one member from each Party shall be an individual with relevant decision-making authority such that the Finance Committee is able to
effectuate all of its decisions within the scope of its activities and responsibilities. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 6.3. Decision-making. Each Committee or Subcommittee shall be responsible for day-to-day
implementation and operations of the activities under this Agreement for which it has or is otherwise assigned responsibility, provided that such implementation is not inconsistent with the express terms of this Agreement, the applicable Plan and
Budget or Semi-annual Plan and Budget, and the decisions of the Board. Each Committee or Subcommittee shall operate by unanimous vote in all decisions, with each Party having one vote and with at least one representative from each Party
participating in such vote. If, with respect to a matter that is subject to a Committee or Subcommittee’s decision-making authority, such Committee or Subcommittee cannot reach unanimity, the matter shall be referred to the Board for resolution
in accordance with Section 4.3. 
 6.4. Costs and Expenses. 

6.4.1 Each Party shall be solely responsible for the salary and other compensation to its representatives in the Operations Committee (and any
Subcommittees thereof) and the Finance Committee, including all costs and expenses incurred by such representatives in attending any Committee or Subcommittee meetings. 

6.4.2 All expenses arising out of any audit, tax liability or as required under the Applicable Laws shall be borne by the JVC, except if
provided otherwise under this Agreement. 
 6.4.3 It is understood that the Parties do not anticipate that the JVC will have any employees.
In the event the Shareholders approve the JVC hiring any employee(s) by the JVC pursuant to Section 5.5, then all expenses relating to salaries and other compensation payable to such employee(s) of the JVC shall be borne by the JVC and the
terms of such payments shall be as set out in the applicable employment agreement or in any other document, executed between the JVC and each applicable employee. 
  

	7.	BUSINESS OPERATIONS 

 7.1. Manufacturing of JVC Products 

7.1.1 Promptly after the Completion Date, the JVC and Agila and/or its Affiliates shall negotiate in good faith a supply agreement(s) pursuant
to which Agila and/or its Affiliates will manufacture and supply each JVC Product from the [*] Facility (or such other Facility (as defined in section 1.9 of the JDLA) as the Board may agree) for development and commercialization by the JVC (the
“Manufacturing Agreement(s)”). Agila shall manufacture and supply the JVC Products to the JVC in compliance with the terms and conditions of the relevant Manufacturing Agreement. The Manufacturing Agreement(s) shall include
provisions that address forecasting, ordering, supply failure, product warranty, regulatory defaults and other terms and conditions, each in accordance with the reasonable and customary terms for similar arrangements in the pharmaceutical industry;
provided that the supply price of JVC Products shall be subject to Section 7.1.2. 
 7.1.2 The Parties agree that, pursuant to the
Manufacturing Agreements, (a) Agila shall manufacture and supply the JVC’s requirements of all JVC Products for conducting 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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Clinical Trial(s) at a transfer price equal to [*], and (b) Agila shall supply the JVC’s requirements of all JVC Products for commercial sale at a price to be mutually agreed between
Agila and the JVC; provided that in no event shall such commercial supply price exceed [*] plus [*] percent (*%) (the “Supply Price”) with respect to each JVC Product. The Parties acknowledge and agree that prior to and during
the term of the Manufacturing Agreement, the JVC shall solicit price quotes for each JVC Product from Acceptable Third Party Suppliers, in order to benchmark Agila’s Supply Prices to the JVC. If the Supply Price offered by Agila for such JVC
Product exceeds the best price available from any such Acceptable Third Party Supplier, adjusted for short-term opportunistic offers, Agila will use its best efforts to match such price. In the event that Agila cannot match such price, Agila shall
provide such assistance as is reasonably necessary to enable such Acceptable Third Party Supplier to manufacture such JVC Product for the JVC, including by providing any necessary licenses or technology transfer. All costs including regulatory costs
of site transfer incurred by the Parties in connection with a transfer of manufacturing of any JVC Product from Agila to an Acceptable Third Party Supplier pursuant to this Section 7.1.2 shall be borne by the JVC. 

7.1.3 The Parties acknowledge and agree that simultaneously with the entry into the Manufacturing Agreement, the JVC and Agila shall enter
into a quality agreement which sets out the policies, procedures, and standards by which the JVC and Agila will coordinate and implement their operational and quality assurance activities and regulatory compliance objectives with respect to the
applicable JVC Product(s) (the “Quality Agreement”). 
 7.1.4 The terms and conditions of the Manufacturing Agreement and
the Quality Agreement and the execution thereof shall be subject to the Board’s approval. 
 7.1.5 The Parties acknowledge and agree
that the JVC shall contemplate secondary manufacturing strategies for the JVC Products, particularly in markets where domestic manufacturing is required or as reasonably necessary to avoid any supply failure. 

7.2. Other Services by Parent Companies. During the term of this Agreement, the JVC may request provision of certain services relating
to the development and/or commercialization of one or more JVC Products from each Party on an as-needed basis. If the requested Party is willing to provide such requested services, then the relevant Party shall negotiate in good faith with the JVC,
the applicable service agreement containing terms and conditions that are consistent with reasonable and customary terms for similar arrangements in the pharmaceutical industry; provided that the price for providing such services shall equal to the
actual direct cost incurred by such Party in the performance of such services (or the provision of products or materials, as the case may be) plus the applicable taxes, or in the event actual direct cost cannot be reasonably determined, the JVC and
such requested Party will agree on costs and rates to be charged plus the applicable taxes. The price charged by each Party to the JVC for the provision of services hereunder shall be reviewed annually and be adjusted as mutually agreed by the JVC
and the applicable Party and in accordance with Applicable Laws. 
 7.3. Manufacturing Records and Audits. Agila shall maintain
complete and accurate records of its manufacturing activities under the Manufacturing Agreement. Pfenex shall have the right to audit, during normal business hours upon reasonable advanced notice and not more than once per calendar year, the
facilities in which Agila manufactures the JVC Products all records of 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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Agila’s manufacturing activities under the Manufacturing Agreement to ensure compliance with the terms of the Manufacturing Agreement and Applicable Laws. The cost of any such audit shall be
borne by the JVC. 
 7.4. JVC Responsibilities. Except as expressly provided herein, the Parties acknowledge and agree that the JVC
(itself or through contractors engaged by the JVC in accordance with the applicable Plan and Budget or Semi-annual Plan and Budget or as otherwise approved by the Board) shall be responsible for the performance of any and all development and
commercialization activities with respect to each JVC Product, including: 
 7.4.1 developing and submitting all Regulatory Filings and
obtaining and maintaining all Regulatory Approvals (including Marketing Approvals), in each case as necessary to develop and commercialize the JVC Products throughout the Territory; 

7.4.2 obtaining and overseeing supply of JVC Products for Clinical Trials and commercial sales in accordance with Section 6.1; 

7.4.3 overseeing Clinical Trials of JVC Products; 

7.4.4 submitting annual reports and completion reports on the Clinical Trials of JVC Products to the prescribed Regulatory Authority in
accordance with Applicable Laws; 
 7.4.5 establishing commercialization strategies for each JVC Product; and 

7.4.6 selling, marketing and distributing JVC Products throughout the Territory. 

7.5. Regulatory Matters. All Regulatory Filings and Regulatory Approvals (including Marketing Approvals) necessary to develop and
commercialize the JVC Products throughout the Territory shall be filed and held in the name of the JVC. Each Party may participate in any scheduled meetings between the JVC and Regulatory Authorities concerning material regulatory matters relating
to the JVC Products (including via conference call or videoconference), and will have the right to receive copies of all material regulatory correspondence between the JVC and Regulatory Authorities regarding the JVC Products. For clarity, the JVC
shall own all the Regulatory Approvals (including Marketing Approvals), Regulatory Filings as well as all manufacturing and analytical records for the JVC Products, including all in-process and finished product records. 

7.6. Cooperation. Each Party shall reasonably cooperate, at its own expense, with the JVC with respect to regulatory and legal
compliance and quality control related to the development and commercialization of JVC Products, including by assisting the JVC to establish and implement, through the Operating Committee and subject to Board approval, appropriate regulatory and
legal compliance and quality control policies and procedures, and by implementing any compliance and quality control policies and procedures with respect to services provided by such Party to the JVC as are reasonably necessary to enable the JVC to
comply with the policies and procedures established by the Board. Each Party shall and shall cause the JVC to perform any and all activities under this Agreement in accordance with all Applicable Laws. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 7.7. Operational Audits. The Parties acknowledge and agree that the JVC shall permit one
or more duly authorized representative of each Party, upon reasonable advance written notice to the JVC and during regular business hours, to access and audit the JVC’s (and any contractor of JVC involved in product manufacture, research and
development) operations, the records and documents relating thereto to ensure compliance with the each Plan and Budget and Semi-annual Plan and Budget and Applicable Laws (including for purposes of conducting internal audits prior to an inspection
by a Regulatory Authority) in connection with the development and commercialization of the JVC Products (including manufacturing thereof). The JVC shall record, respond and address all observations of the applicable Party. Each Party shall conduct
the foregoing operational audit at its own costs. 
  

	8.	FINANCE, AUDIT, DISTRIBUTIONS AND ALLOCATIONS OF PROFIT 

 8.1. Accounting System

 8.1.1 The JVC shall adopt the internationally practiced accrual basis of accounting and the debit and credit method for book keeping, and
shall, in accordance with the provisions of Applicable Laws, prepare complete, accurate and appropriate financial and accounting books and records satisfactory to the Board. 

8.1.2 The accounting system and procedures to be adopted by the JVC shall be prepared by the Finance Committee, and shall be submitted to the
Board for approval. If is required by Applicable Laws, then once approved by the Board, the accounting system and procedures shall be filed with the department of finance, the tax authorities or other governmental authorities having jurisdiction
over the JVC. 
 8.1.3 The Finance Committee shall also prepare for internal reporting purposes of the Parties (i) certain financial
data of the JVC (including sales, cost of sales, gross margin and operating income) on a quarterly basis and (ii) financial statements for the JVC within fifteen (15) days of the end of each calendar quarter. 

8.2. Auditing. The JVC shall engage an accounting firm selected by the Board as its external auditor (the “JVC
Auditor”) and to examine and verify the financial accounting books of the JVC on an annual basis. The results of the JVC Auditor’s examination shall be reported to the Board. The JVC shall submit to the Parties and to each Director the
audited annual accounts within forty-five (45) days after the end of the Financial Year, together with the audit report of the JVC Auditor. In connection with the annual audit of the JVC, Agila shall provide to the JVC Auditor and the Board
complete and accurate accounting records related to its performance of the manufacturing services to the JVC, which shall be prepared in accordance with the accounting principles it generally and consistently applies in its business operations.
Agila further agrees to provide to the JVC Auditor and the Board a copy of all reports of any internal or external audit of Agila to the extent relating to the manufacturing services provided to the JVC. If the JVC Auditor and the Board discovers
that Agila has overbilled the JVC for the manufacturing services, Agila shall reimburse the JVC such overbilled amount. In the event the overbilled amount exceeds the greater of One Hundred Thousand Dollars (U.S. $100,000) or ten percent
(10%) of the total fees payable by the JVC to Agila during the period subject to such audit, then Agila shall also pay the JVC an interest at the lesser of (i) thirty (30) day U.S. dollar LIBOR rate effective for the date such

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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overbilled amount was paid, as published by The Wall Street Journal, Internet Edition at www.wsj.com in the “Money Rates” column plus an additional two percent (2%), or (ii) the
maximum rate permitted by Applicable Laws, calculated on the number of days since the JVC paid such overbilled amount. If the Parties cannot agree on whether Agila has overbilled the JVC for its manufacturing services or the overbilled amount, such
dispute shall be resolved in accordance with the procedures set forth in Section 17.10. Notwithstanding the foregoing, billing differences arising out of a positive variance from standard costs assumed at the beginning of the year (as approved
by the Board), and which are due to be adjusted at year end, will not be treated as overbilling even if it exceeds such [*] (U.S. $[*]) or [*] percent ([*]%). 

8.3. Distribution and Allocation of Profits and Loss. 

8.3.1 The JVC shall make all distributions of cash and other property to the Parties on a basis proportionate to Parties’ respective
Ownership Interest. 
 8.3.2 Profits and losses will be allocated among the Parties in a manner consistent with their respective Ownership
Interests and the requirements of Applicable Laws. 
 8.3.3 In the event of any liquidation, dissolution or winding up of the JVC, any
distribution of cash or other property shall be made in accordance with the foregoing distribution provisions, after satisfaction of the debts and liabilities of the JVC and reservation of funds for the liquidation on an Ownership Interest basis.

  

	9.	SHARE TRANSFER 

 9.1. No Transfer. Neither Party may transfer its Shares in the
JVC to any Person other than a wholly owned subsidiary of such Party, without the consent of the other Party; provided that each Party may transfer its Shares in the JVC in accordance with Section 9.2 below, or in connection with an assignment
of this Agreement in accordance with Section 17.2, or otherwise to the other Party as set forth in Article 14. Any transfer or attempt to transfer Shares in violation of the foregoing shall be null and void ab initio, and the JVC shall
(i) not register any such transfer of Shares; or (ii) cancel or rectify such transfer of Shares; or (iii) reject and reverse such erroneous transfer of Shares made or attempted, suo motu, without necessity of a Board decision
and may institute proceedings for this purpose if required by Applicable Laws (as the case may be). In such circumstances, any transferee of Shares shall not be entitled to any rights under this Agreement. 

9.2. Right of First Refusal and Tag-Along Right. 

9.2.1 Subject to this Section 9.2, if either Party (“Disposing Shareholder”) proposes to transfer all or part of its
Shares in the JVC to a Third Party (“Proposed Transferee”), the other Party (“Non-Disposing Shareholder”) shall have (i) a right of first refusal to purchase the Shares proposed to be transferred by the
Disposing Shareholder (“Right of First Refusal”) or (ii) a right to tag along with the Disposing Shareholder in selling Shares to such Proposed Transferee (“Tag-Along Right”), each to be exercised in the manner
set out below. 
 9.2.2 The Disposing Shareholder shall send a written notice (the “Offer Notice”) to the Non-Disposing
Shareholder, which notice shall state (i) the number of Shares proposed to be transferred (the “Offered Shares”); (ii) the proposed consideration for the transfer (“Offer Price”);

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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(iii) the name and address of the Proposed Transferee and the name and address of the beneficial owner(s) of the Proposed Transferee; and (iv) all other material terms and conditions
subject to which the Offered Shares are proposed to be transferred. 
 9.2.3 Within a period of five (5) Business Days’ from the
receipt of the Offer Notice (the “Acceptance Period”), the Non-Disposing Shareholders shall have the right to (i) exercise its Right of First Refusal to purchase all (but not less than all) of the Offered Shares at the Offer
Price in accordance with Section 9.2.4 below by providing a written notice of its election to exercise its Right of First Refusal (the “Acceptance Notice”) to the Disposing Shareholder, or (ii) exercise its Tag-Along Right
in accordance with Section 9.2.5 below through the delivery of a written notice of its election to exercise its Tag-Along Right (the “Tag-Along Notice”) to the Disposing Shareholder, which shall state the number and description
of Shares that the Non-Disposing Shareholder wishes to sell to the Proposed Transferee at the Offer Price (“Offered Tag Shares”). 

9.2.4 In the event that the Non-Disposing Shareholder provides the Acceptance Notice within the Acceptance Period, it shall have the right and
obligation to purchase the Offered Shares at the Offer Price and it shall complete such purchase within a period of sixty (60) days from the date of Acceptance Notice. In the event the Non-Disposing Shareholder does not complete the transaction
(including payment of consideration) within such sixty (60) day period, the Disposing Shareholder shall be free to sell the outstanding Offered Shares to the Proposed Transferee or any other Third Party which is not developing, manufacturing or
commercializing, directly or indirectly, any product that directly competes with any JVC Product or Collaboration Product at a price not being less than the Offer Price within a period of one hundred and eighty (180) days from the expiry of the
Acceptance Period. If the Offered Shares described in the Offer Notice are not transferred to any Third Party in accordance with this Section 9.2.4 within such one hundred and eighty (180) day period, the Offered Shares shall again be
subject to all transfer restrictions as contained in this Article 9, and any new transfer will have to comply with this Section 9.2 (as applicable) before any Offered Shares held by the Disposing Shareholder may be transferred. 

9.2.5 In the event that the Non-Disposing Shareholder provides the Tag-Along Notice within the Acceptance Period, the Disposing Shareholder
will promptly notify the Proposed Transferee that the Non-Disposing Shareholder’s intent to sell Offered Tag Shares to the Proposed Transferee at the Offer Price and the other terms and conditions described in the Offer Notice. In the event the
Proposed Transferee agrees to purchase Offered Tag Shares from the Non-Disposing Shareholder in addition to the Offered Shares from the Disposing Shareholder, the Disposing Shareholder shall promptly deliver to the Non-Disposing Shareholder a notice
setting forth the delivery instructions and procedures required to effectuate the transfer of the Offered Tag Shares. In the event the Proposed Transferee does not agree to purchase any or all of the Offered Tag Shares, then each Party has the right
to sell up to the percentage of the total Shares that such Proposed Transferee is willing to purchase in proportion to its Ownership Interest in the JVC. The Disposing Shareholder shall ensure that the Proposed Transferee or its nominee(s) purchase
the applicable number of Offered Tag Shares from the Non-Disposing Shareholder at the same price and same terms and conditions offered to the Disposing Shareholder. If the Proposed Transferee or its nominee(s) does not complete the purchase of
Offered Tag Shares as provided in this Section 9.2.5, then the Disposing Shareholder shall not transfer any of its Shares to the Proposed Transferee. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 9.2.6 In the event that the Non-Disposing Shareholder provides neither Acceptance Notice nor
Tag-Along Notice during the Acceptance Period, the Disposing Shareholder shall be entitled to sell and transfer any or all the Offered Shares to the Proposed Transferee mentioned in the Offer Notice or any Third Party which is not developing,
manufacturing or commercializing, directly or indirectly, any product that directly competes with any JVC Product or Collaboration Product on the terms and conditions substantially similar to those set out in the Offer Notice. If completion of such
sale and transfer of Offered Shares does not take place within a period of one hundred and eighty (180) days following the expiry of the Acceptance Period, the Disposing Shareholder’s right to sell the Offered Shares shall lapse and the
provisions of this Section 9.2 shall once again apply to the Disposing Shareholder’s Offered Shares. 
 9.2.7 The Parties
acknowledge and agree any Third Party who has purchased any Shares under this Section 9.2 shall execute and deliver to each Party a Deed of Adherence in the form set forth in Exhibit 2 hereto. 

 

	10.	RESTRICTIVE COVENANTS 

 10.1. Non-Compete. During the Term, each Party agrees
that, except for its obligations hereunder, neither it nor any of its Affiliates shall develop, manufacture, supply or commercialize any JVC Product, or assist any Third Party to perform any such activities with respect to any JVC Product.
Notwithstanding anything to the contrary in this Agreement, nothing in this Section 10.1 shall prohibit any Acquiring Entity from continuing, furthering or performing (i) any activities in which it was engaged prior to the effective date
of the applicable transaction, pursuant to which the Acquiring Entity merges or consolidates with or acquires a Party, or a Party transfers to such Acquiring Entity all or substantially all of its assets to which this Agreement pertains, or
(ii) any activities relating to products developed by such Acquiring Entity (or any Third Party) independent of (and without accessing or practicing) subject matter within the Pfenex Background Technology (in the case of an Acquiring Entity of
Pfenex), the Agila Background Technology (in the case of an Acquiring Entity of Agila), or any JVC Technology. 
 10.2.
Non-solicitation. It is agreed that neither Party nor any of their Affiliates shall approach, solicit or otherwise endeavour to entice away from the JVC any of its employees, agents, directors, consultant or advisor, or any of the employees
seconded by the other Party as a result of or under the terms of this Agreement, whether or not such Person would commit a breach of contract of employment by leaving his employment. 

 

	11.	INTELLECTUAL PROPERTY 

 11.1. Background Technology. Except for the limited
licenses granted under Section 11.2 below, as between the Parties, each Party retains full right, title and interest in and to its respective Background Technology. 

11.2. License Grant 

11.2.1 License Grant by Pfenex. Pfenex hereby grants to JVC an exclusive (with respect to the JVC Products), non-transferable,
worldwide, fully-paid up, royalty-free license under Pfenex’s Background Technology, together with all intellectual property rights therein, solely to the extent necessary for JVC to develop and commercialize the JVC Products in accordance with
this Agreement. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 11.2.2 License Grant by Agila. Agila hereby grants to JVC an exclusive (with respect to
the JVC Products), non-transferable, worldwide, fully-paid up, royalty-free license under Agila’s Background Technology, together with all intellectual property rights therein, solely to the extent necessary for JVC to develop and commercialize
the JVC Products in accordance with this Agreement. 
 11.2.3 No Other Right. All rights and licenses granted under this Agreement
are limited to the scope expressly granted. Accordingly, except for the rights expressly granted under this Agreement, no right, title, or interest of any nature whatsoever is granted whether by implication, estoppel, reliance, or otherwise, by
either Party to the JVC or the other Party. 
 11.3. JVC Technology. All right, title and interest to inventions and other subject
matter (together with all intellectual property rights therein) conceived or created or first reduced to practice by or on behalf of the JVC under this Agreement and all Collaboration Technology assigned to JVC pursuant to section 10.6 of the JDLA
(collectively, “JVC Technology”) shall be owned by JVC; provided that JVC Technology shall exclude all Pfenex Improvements, which will be the sole and exclusive property of Pfenex. To the extent permitted by Applicable Laws, each
Party shall cause the JVC to assign to Pfenex all Pfenex Improvements and take such other reasonable actions at Pfenex’ request and expense to effectuate such assignment. As used herein, “Pfenex Improvements” means: all
modifications and improvements to any Pfenex Expression Technology or Pfenex Materials and Deliverables and all inventions claiming the use of Pfenex Expression Technology that are not solely applicable to any JVC Product and all intellectual
property rights pertaining to the foregoing. Prosecution, maintenance, and enforcement costs and control of all patents and patent applications within the JVC Technology will be conducted by the JVC. 

11.4. Branding Trademarks. The JVC, through the Operations Committee, shall determine the appropriate trademark and trade name for each
JVC Product. The Parties shall cause the JVC to follow all Applicable Laws and best practices regarding marking and usage of any trademark rights and domain names to protect the goodwill of the JVC. To the extent necessary or desirable for the
development or commercialization of any JVC Product and consistent with Applicable Laws and industry standards for the applicable territory as determined by the Operations Committee and subject to Board’s approval, a Party’s trademark or
trade name may be included in the trademark or trade name of any JVC Product in accordance with Applicable Laws and industry standards for the applicable territory, in which event such Party will grant the JVC a license to use such trademark or
trade name (including name, logo or similar marks) of such Party solely for the development or commercialization of the applicable JVC Product in the applicable territory subject to terms and conditions mutually agreed between such Party and the
JVC; provided, that if either Party ceases to be a Party of the JVC, unless otherwise provided for in a separate agreement, the JVC shall no longer be permitted to use such Party’s trademark or trade name (including name, logo or similar marks)
in connection with the activities of the JVC. 
 11.5. Cooperation. The Parties shall at all times fully cooperate in order to
reasonably implement the provisions of this Article 11. Such cooperation may include the execution of 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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necessary legal documents, coordinating prosecution to avoid and/or mitigate any patentability issues, and the provision of any other assistance reasonably requested by the other Party or the JVC
at such other Party’s or the JVC’s expenses, as applicable. Without limiting the foregoing, promptly after the Completion Date, each Party shall enter into a written agreement with the JVC to reflect the grant of licenses with respect to
any Background Technology (including any trade mark license contemplated under Section 11.4) and assignment of intellectual property rights with respect to any Collaboration Technology or JVC Technology in consistence with section 10.6 of the
JDLA and this Article 11. 
  

	12.	CONFIDENTIALITY 

 12.1. Confidential Information. The Parties may from time to
time disclose to each other Confidential Information pursuant to this Agreement or otherwise in connection with the JVC. “Confidential Information” means any information disclosed by one Party (the “Disclosing
Party”) to the other Party (the “Receiving Party”) hereto, which (i) if disclosed in tangible form is marked “confidential” or with other similar designation to indicate its confidential or proprietary
nature, (ii) if disclosed orally, is identified as confidential or proprietary by the Party disclosing such information at the time of its initial disclosure and is confirmed in writing as confidential or proprietary by the Disclosing Party
within forty five (45) days after such initial disclosure, or (iii) is reasonably expected to be treated in a confidential manner based on the nature of such information and the circumstances of its disclosure. Without limiting the
foregoing, the terms of this Agreement and all non-public information relating to the business or technology of the JVC (including information relating to the development and/or commercialization of any JVC Product) shall be deemed Confidential
Information of both Parties. Notwithstanding the foregoing or anything herein to the contrary, the obligations of the Receiving Party under this Agreement shall not apply to any information that, in each case as demonstrated by written
documentation: (a) was already known to the Receiving Party, other than under an obligation of confidentiality, at the time of disclosure; (b) was generally available to the public or otherwise part of the public domain at the time of its
disclosure to the Receiving Party; (c) became generally available to the public or otherwise part of the public domain after its disclosure and other than through any act or omission of the Receiving Party in breach of this Agreement;
(d) was subsequently lawfully disclosed to the Receiving Party by the Disclosing Party; or (e) was independently developed by the Receiving Party without use of or reference to any Confidential Information of the Disclosing Party. 

12.2. Confidentiality. During the Term and for a period of five (5) years thereafter, each Party agrees to hold and maintain in
strict confidence all Confidential Information of the other Party and neither Party shall use any Confidential Information of the other Party for any purpose except as permitted under this Agreement. Each Party further agrees not to disclose any
Confidential Information of the other Party except to those employees and consultants who have a need to know and provided that each person to whom Confidential Information is disclosed agrees to be bound by terms regarding the disclosure and use of
Confidential Information no less restrictive than those set forth in this Article 12. 
 12.3. Permitted disclosure. Each Party may
use and disclose Confidential Information of the other Party as follows: (i) under appropriate confidentiality obligations substantially equivalent to those in this Agreement, in connection with the performance of its obligations or exercise of
rights granted to such Party in this Agreement, (ii) to the extent such disclosure is reasonably 

  
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has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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necessary in filing for, prosecuting or maintenance of patents and other intellectual property rights (including applications therefor) in accordance with this Agreement, prosecuting or defending
litigation, complying with applicable governmental regulations, filing for, conducting preclinical or clinical trials, obtaining and maintaining regulatory approvals, or otherwise required by Applicable Laws or the rules of a recognized stock
exchange; provided, however, that if a Party is required by Applicable Laws or rules of stock exchange to make any such disclosure of the other Party’s Confidential Information it shall, to the extent legally permissible and practicable, give
reasonable advance notice to the other Party of such disclosure requirement and, except to the extent inappropriate in the case of patent applications, shall use its reasonable efforts to secure confidential treatment of such Confidential
Information required to be disclosed or limit the scope of the compelled disclosure (iii) in communication with existing and potential investors, collaborators, consultants, advisors (including financial advisors, lawyers and accountants) and
others on a need to know basis, in each case under appropriate confidentiality obligations substantially equivalent to those of this Agreement. 

12.4. Publicity Review. 

12.4.1 General. Unless required by Applicable Laws, neither Party shall make any public disclosure in relation to this Agreement or any
JVC Product without the prior written consent of the other Party. Without limiting the foregoing, each Party shall use good faith efforts to provide any disclosure required by Applicable Laws at least five (5) Business Days prior to such
disclosure (to the extent practicable) for the other Party’s review and comment. Notwithstanding the foregoing, it is understood that the Parties will issue a joint press release to announce the execution of the JDLA and this Agreement as
provided in section 9.4.1 of the JDLA. After the issuance of such public release, each Party may disclose to Third Parties the information contained in such press release without the need for further approval by the other Party. 

12.4.2 Use of Names. Neither Party shall utilize the name or trademarks of the other Party or the JVC without the other Party’s
prior written consent, provided that such use or disclosure shall be permitted if required by Applicable Laws and the Party making such use or disclosure consults with the other Party to the extent practicable not less than thirty (30) days
prior to the use or disclosure. 
  

	13.	REPRESENTATIONS AND WARRANTIES 

 13.1. Mutual Representations and Warranties. Each
Party represents and warrants to the other Party that: (a) as of the Effective Date, it has the power and authority to enter into this Agreement and to perform its obligations hereunder and to grant to the other Party the rights granted to such
other Party under this Agreement; (b) as of the Effective Date, it has obtained all necessary corporate and other approvals to enter into and execute this Agreement; (c) it is not, as of the Effective Date, a party to, nor will it enter
into or assume during the Term, any contract or other obligation with a Third Party that would in any way limit the performance of its obligations under this Agreement; (d) this Agreement will, when executed, constitute valid and binding
obligations on the Parties; and (e) entry into and performance by it of this Agreement will not (i) breach any provision of its bylaws or equivalent constitutional documents; or (ii) result in a breach of any Applicable Laws in its
jurisdiction of incorporation or of any order, decree or judgment of any court or any Regulatory Authority, where any such breach would affect to a material extent its ability to enter into or perform its obligations under this Agreement. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 13.2. No Debarment. Each Party further represents and warrants that neither it, nor any of
its Affiliates, nor any of their respective employees or contractors involved in the performance of this Agreement have been “debarred” by the FDA pursuant to 21 U.S.C. § 335a or subject to a similar sanction from any Regulatory
Authority in any other jurisdiction, nor have debarment or similar proceedings against such Party, any of its Affiliates, or any of their respective employees or contractors involved in the performance of this Agreement been commenced. Each Party
will promptly notify the other Party in writing if any such proceedings are commenced or if such Party, any of its Affiliates, or any of their respective employees or contractors involved in the performance of this Agreement are debarred or
similarly sanctioned by any Regulatory Authority. 
 13.3. GMP Facility. Agila represents and warrants that prior to the Completion
Date it will complete the construction and qualification of the [*] Facility (as defined in section 1.9 of the JDLA) with the capacity to supply all then-existing JVC Products in accordance with GMP and other Applicable Laws. It is understood that
Agila’s failure to complete the construction and qualification of the [*] Facility with adequate capacity prior to the Completion Date will not be deemed a breach of this Agreement if: (i) Agila has used all reasonable efforts to achieve
such goal and the delay is caused by circumstances beyond Agila’s reasonable control, and (ii) prior to completing the construction and qualification of the [*] Facility with adequate capacity, Agila will supply JVC’s requirements of
all the JVC Products (including both clinical supply and commercial supply) in accordance with GMP and other Applicable Laws through any Affiliate(s) of Agila or any Acceptable Third Party Supplier(s) at the Interim Transfer Price. For purposes of
the foregoing, the “Interim Transfer Price” shall mean [*] percent ([*]%) less than the average price quoted for the supply of the applicable JVC Product(s) quoted by three (3) independent Third Party manufacturers of
international repute and having capabilities, to manufacture and supply such JVC Product(s) in accordance with GMP and other Applicable Laws (which Third Party manufacturers are chosen by the Board). 

13.4. Disclaimer. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY WARRANTIES (EXPRESS, IMPLIED, STATUTORY OR
OTHERWISE) WITH RESPECT TO THE SUBJECT MAI’L’ER HEREOF AND EACH PARTY EXPRESSLY DISCLAIMS ANY SUCH ADDITIONAL WARRANTIES, INCLUDING ANY IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY OR NON-INFRINGEMENT OF
INTELLECTUAL PROPERTY RIGHTS. 
 13.5. Limitation of Liability. NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR INDIRECT,
INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES INCLUDING, BUT NOT LIMITED TO, LOST PROFITS ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES. HOWEVER, NOTHING IN THIS SECTION IS
INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF EITHER PARTY UNDER ARTICLE15. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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	14.	TERM AND TERMINATION 

 14.1. Term. Unless otherwise terminated earlier pursuant to
this Article 14, the term (“Term”) of this Agreement shall commence as of the Effective Date and shall remain in force and effect so long as there is at least one JVC Product under development or commercialization by the JVC under
this Agreement, unless earlier terminated by a Party in accordance with this Agreement. 
 14.2. Termination for Failure to Launch.
In the event the JVC fails to initiate the first commercial sale of any JVC Product under a Marketing Approval in the Territory within the timeframe set forth in the applicable Plan and Budget, either Party may terminate this Agreement with respect
to such JVC Product by immediate written notice to the other Party. For clarity, such termination shall not affect any other JVC Product under this Agreement. It is understood that the first commercial sale of the first JVC Product under a Marketing
Approval in the Territory shall occur within five (5) years after the Effective Date. 
 14.3. Termination for Convenience. 

14.3.1 Offer. Beginning on the fifth anniversary of the Effective Date, a Party (the “Offering Party”) may offer to
sell its entire equity interest in the registered capital of the JVC to the other Party (the “Offered Party”) by providing a written proposal referencing this Section 14.3 and setting forth in reasonable detail the financial
terms and other terms and conditions of such sale, each in accordance with Applicable Laws (the “Offer”). To the extent required by Applicable Laws, the Offering Party shall obtain a valuation of the JVC pursuant to
Section 14.5 at the Offering Party’s expense and propose the financial terms of the Offer based on such valuation. Within six (6) months of receiving such Offer, the Offered Party shall elect, by written notice to the Offering Party
(“Notice of Election”), to either: 
 (a) accept the Offering Party’s offer to purchase the Offering Party’s
entire equity interest in the registered capital of the JVC, in which event the Offered Party shall be bound to purchase, and the Offering Party shall be bound to sell, the Offering Party’s entire equity interest in the JVC pursuant to the
terms and conditions (including financial terms) set forth in the Offer, or 
 (b) sell to the Offering Party the Offered Party’s entire
equity interest in the registered capital of the JVC, in which event the Offering Party shall be bound to purchase, and the Offered Party shall be bound to sell, the Offered Party’s entire equity interest in the JVC pursuant to the terms and
conditions (including financial terms) Set forth in the Offer, provided that the financial terms shall be adjusted based on the ratio of the Ownership Interest of the Offering Party and Offered Party. By way of example, if Pfenex offers to sell its
entire equity interest in the JVC to Agila for [*] U.S. Dollars ([*]), Agila may elect to sell its entire equity interest in the JVC to Pfenex for [*] U.S. Dollars ([*]). 

14.3.2 Completion of Purchase. The Parties shall in good faith complete the transaction contemplated under Section 14.3.1 as soon
as practicable, but in no event later than six (6) months after the delivery of the Offered Party’s Notice of Election. The purchasing Party (the Offering Party or the Offered Party, as the case may be) shall pay the purchase price
pursuant to the 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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payment schedule set forth in the Offer (adjusted based on the ratio of the Ownership Interest if the Offered Party is the purchasing Party), and the other Party shall transfer all right, title
and interest to such purchasing Party certificates representing all such equity interest in the JVC, free and clear of any liens, claims, charges or encumbrances duly endorsed for transfer and together with all necessary transfer documents (provided
that the issuing Party may retain a security interest in the transferred shares until the shares are fully paid in accordance with the Offer). 

14.4. Termination for Event of Default. Each Party shall have the right to terminate this Agreement in the event that the other Party
experiences an Event of Default, upon providing written notice of its intent to terminate referencing this Section 14.4 to the other Party. 

14.4.1 Event of Default. An “Event of Default” shall occur if (a) a Party breaches or fails to perform in any
material respect any material obligation under this Agreement and at the end of the Cure Period therefor such breach or failure remains uncured, or (b) a Party (i) files in any court or agency pursuant to any statute or regulation of any
jurisdiction a petition in bankruptcy or insolvency or for reorganization or similar arrangement for the benefit of creditors or for the appointment of a receiver or trustee of such other Party or its assets, (ii) is served with an involuntary
petition against it in any insolvency proceeding and such involuntary petition has not been stayed or dismissed within ninety (90) days of its filing, or (iii) makes an assignment of substantially all of its assets for the benefit of its
creditors (in each case of (a) or (b), such Party, the “Defaulting Party”). Without limiting the foregoing, the Parties acknowledge and agree that any material breach by Agila of the Manufacturing Agreement shall constitute an
Event of Default by Agila under this Agreement. 
 14.4.2 Cure Period. Upon a Defaulting Party’s breach or failure to perform an
obligation under this Agreement, the other Party (the “Non-Defaulting Party”) shall have the right to deliver to the Defaulting Party a notice of default (a “Notice of Default”). The Notice of Default shall set
forth the nature of the Defaulting Party’s breach or failure of performance under this Agreement and a request for the Defaulting Party to cure such breach or failure within the Cure Period. If the Defaulting Party fails to cure the breach or
failure within the Cure Period, the Non-Defaulting Party shall be entitled to exercise its Call Option as set forth in Section 14.4.3 or Put Option as set forth in Section 14.4.4. For purposes hereof, “Cure Period” means a
period commencing on the date that the Notice of Default is provided by the Non-Defaulting Party and ending (a) thirty (30) days after Notice of Default is so provided, or (b) in the case of any obligation (other than an obligation to
pay money) which cannot reasonably be cured within such thirty (30) day period, such longer period not to exceed one hundred twenty (120) days after the Notice of Default is so provided as is necessary to effect a cure of the Event of
Default, so long as the Defaulting Party diligently attempts to effect a cure throughout such period. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 14.4.3 Call Option. Upon the occurrence of an Event of Default, the Non-Defaulting Party
shall have an option to purchase the Defaulting Party’s entire equity interest in the registered capital of the JVC (the “Call Option”), and if the Non-Defaulting Party decides to exercise such Call Option at its own discretion
by providing written notice to the Defaulting Party, the Defaulting Party must agree to sell all its equity interest in the JVC (the “Call Option Sold Equity”) to the Non-Defaulting Party (or its designated party) at a value
determined pursuant to this Section 14.4.3 and shall cause its appointed Directors to vote in favor of the sale. 
 (a) If the
Non-Defaulting Party decides to exercise its Call Option, it shall, by written notice (the “Call Option Exercise Notice”), propose to the Defaulting Party a price that in the Non-Defaulting Party’s reasonable opinion is the
fair market value of the Call Option Sold Equity (the “Call Option Purchase Price”). If the Defaulting Party does not agree or does not reply within ten (10) Business Days of the Call Option Exercise Notice or it is otherwise
required by Applicable Laws to obtain an outside valuation of the fair market value of the Call Option Sold Equity, the Parties shall commence an outside process for determining the Call Option Purchase Price in accordance with Section 14.5, at
the Defaulting Party’s expense. 
 (b) Upon the receipt of the Purchase Price Certificate (as defined below) issued in accordance with
Section 14.5, the Non-Defaulting Party shall be bound (subject to any necessary approvals of its shareholders in a general meeting and any regulatory approvals) to buy and the Defaulting Party shall be bound to sell the Call Option Sold Equity
at [*] ([*]%) of the Valuation Price set out in the Purchase Price Certificate as issued in accordance with Section 14.5. 

14.4.4 Put Option. Upon the occurrence of an Event of Default ,the Non-Defaulting Party shall have an option (“Put
Option”) to sell to the Defaulting Party the Non-Defaulting Party’s entire equity interest in the registered capital of the JVC (“Put Option Sold Equity”), and if the Non-Defaulting Party decides to exercise its option
at its own discretion by providing written notice to the Defaulting Party, the Defaulting Party must agree to purchase the Put Option Sold Equity at a value determined pursuant to this Section 14.4.4, and shall cause its appointed Directors to
vote in favor of the sale. 
 (a) If the Non-Defaulting Party decides to exercise its Put Option, it shall, by Written notice (the
“Put Option Exercise Notice”), propose to the Defaulting Party a price that in the Non-Defaulting Party’s reasonable opinion is the fair market value of the Put Option Sold Equity (the “Put Option Purchase
Price”). If the Defaulting Party does not agree or does not reply within ten (10) Business Days of the Put Option Exercise Notice or it is otherwise required by Applicable Laws to obtain an outside valuation of the fair market value of
the Put Option Sold Equity, the Parties shall commence an outside process for determining the Put Option Purchase Price in accordance with Section 14.5, at the Defaulting Party’s expense. 

(b) Upon receipt by the Parties of the Purchase Price Certificate issued in accordance with Section 14.5, the Non-Defaulting Party shall
be bound to sell, and the Defaulting Party shall be bound to purchase the Put Option Sold Equity at [*] percent ([*]%) of the Valuation Price set out in the Purchase Price Certificate issued in accordance with Section 14.5. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 14.5. Valuation and Procedure. Where a valuation is required to be carried out under this
Agreement to determine the fair market value of any and all part of the equity interests of any Party in the JVC to be transferred under this Agreement, the Parties shall, and shall cause the JVC, to comply with the following provisions: 

14.5.1 Within ten (10) Business Days upon a Party’s receipt of a written notice from the other Party to initiate a valuation
pursuant to this Agreement; the Parties shall negotiate in good faith and select and retain an internationally recognized investment bank with relevant experience in the business of valuation of pharmaceutical business which is qualified under
Applicable Laws (the “Appraiser”) to conduct a valuation of the fair market value of the relevant equity interest of the JVC in accordance with this Section 14.5 (the “Valuation Price”) and deliver its
valuation report to the Parties within 30 days after its appointment. In its determination of the Valuation Price, the Appraisers shall, based on the purpose of the valuation, value the equity interest by applying internationally accepted actuarial
methods for calculating the fair market value of the equity interest in a pharmaceutical company. 
 14.5.2 The Valuation Price as
determined above shall be final and binding upon the Parties, and such Valuation Price shall be certified by the Appraiser (the “Purchase Price Certificate”). Each Party shall equally bear the fees and costs arising from such
valuation (including the Appraiser’s fees). 
 14.6. Cross-termination. In the event the JDLA is terminated (not expired)
pursuant to its terms prior to the Completion Date or the Ratification Date for the first JVC Product, this Agreement shall terminate automatically. 

14.7. JVC Successor. In the event this Agreement is terminated under Section 14.3 or Section 14.4 (and the Non-Defaulting
Party has exercised the Call Option or Put Option) or the JVC is otherwise sold to a Third Party, the Parties shall fully cooperate with each other to facilitate a smooth, orderly and prompt transition of the development, manufacturing and/or
commercialization of the JVC Products to the Party purchasing the JVC or the Third Party purchasing the JVC (the “JVC Successor”), at the JVC Successor’s expense. In connection therewith, each Party shall grant the JVC
Successor a license to such Party’s Background Technology and all intellectual property rights therein to the extent necessary for the JVC Successor to continue developing, manufacturing and commercializing the JVC Products in the same manner
as the JVC would perform such activities under this Agreement. 
 14.8. Survival. Any termination or expiration of this Agreement
shall be without prejudice to the accrued rights and obligations of the Parties. The provisions of Articles 1, 12, 14, 16 and 17 and Sections 8.2, 11.3, 11.4, 11.5, 13.4, 13.5 and 15.2 shall survive such termination. 

 

	15.	CONFLICTS 

 15.1. Articles of Association. All the provisions of this Agreement,
to the extent relevant, shall be incorporated into the Articles of Association upon incorporation. Save to the extent prohibited by Applicable Laws, in the event of any inconsistency between the Articles of Association and the terms of this
Agreement (on the other), the provisions of this Agreement shall prevail insofar as the contractual relationship between the Parties is concerned. The Parties further agree and undertake that in the event any inconsistency or ambiguity is discovered
at any point of time in future between the Articles of Association and this Agreement, they shall endeavor, by exercising all voting and other rights and powers available to them, whether directly or indirectly, to remove the same by carrying out
necessary amendment, modification and alteration in the Articles of Association thereby bringing the Articles of Association in conformity with this Agreement. 

15.2. Applicable Laws. All the provisions of this Agreement would be subject to provisions of the Applicable Laws, if any, and to the
extent applicable, and the Parties agree to take all such steps and make all changes hereto necessary to carry out the intention of the Parties as stated herein above in accordance with the Applicable Laws. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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	16.	INDEMNIFICATION 

 16.1. Pfenex. Pfenex shall indemnify, defend and hold harmless
Agila, its directors, officers, employees, agents, successors and assigns from and against any liabilities, expenses or costs (including reasonable attorneys’ fees and court costs) (collectively “Losses”) arising out of any
claim, complaint, suit, proceeding or cause of action against any of them by a Third Party resulting from: (a) the negligent or intentionally wrongful acts or omissions of Pfenex or its Affiliates or (b) any breach by Pfenex of its
representations, warranties and covenants under this Agreement; in each case, subject to the requirements set forth in Section 16.4 below. Notwithstanding the foregoing, Pfenex shall have no obligations under this Section 16.1 for any
liabilities, expenses or costs arising out of or relating to claims to the extent covered under Section 16.2 below. 
 16.2.
Agila. Agila shall indemnify, defend and hold harmless Pfenex, its directors, officers, employees, agents, successors and assigns from and against all Losses arising out of any claim, complaint, suit, proceeding or cause of action against any
of them by a Third Party resulting from: (a) the negligent or intentionally wrongful acts or omissions of Agila or its Affiliates or (b) any breach by Agila of any of its representations, warranties and covenants under this Agreement; in
each case, subject to the requirements set forth in Section 16.4 below. Notwithstanding the foregoing, Agila shall have no obligations under this Section 16.2 for any liabilities, expenses or costs arising out of or relating to claims to
the extent covered under Section 16.1 above. 
 16.3. Other Liabilities. Agila and Pfenex shall share at 51:49 ratio all Losses
incurred by either Party, its directors, officers, employees, agents, successors and assigns arising out of any claim, complaint, suit, proceeding or cause of action against either Party by a Third Party resulting from (i) any activities
conducted by or on behalf of either Party under this Agreement or (ii) any activities conducted by or on behalf of the JVC under this Agreement; except to the extent such Losses resulting from: (a) the negligent or intentionally wrongful
acts or omissions of either Party or its Affiliates or (b) any breach by either Party of any of its representations, warranties and covenants under this Agreement. 

16.4. Indemnification Procedure. Any Party seeking indemnification under this Article 16 (the “Indemnitee”) shall:
(a) promptly notify the indemnifying Party (the “Indemnitor”) of such claim; (b) provide the Indemnitor sole control over the defense or settlement thereof; and (c) at the Indemnitor’s request and expense,
provide full information and reasonable assistance to Indemnitor with respect to such claims. Without limiting the foregoing, with respect to claims brought under Section 16.1 or 16.2 above, the Indemnitee, at its own expense, shall have the
right to participate with counsel of its own choosing in the defense or settlement of any such claim. The indemnification under this Article 16 shall not apply to amounts paid in settlement of any claim if such settlement is effected without the
consent of the Indemnitor. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 16.5. Insurance. 

16.5.1 The Parties acknowledge and agree that the JVC shall maintain product liability insurance, Clinical Trial Insurance, commercial general
liability insurance and other relevant Third Party insurance coverage at conditions reasonable and customary for the local market in order to protect the JVC, its Directors, and management team. The types of coverage, the value and the term of
insurance for the JVC shall be discussed and decided by the Board in accordance with Applicable Laws and applicable industry standards. 

16.5.2 Each Party will procure and maintain, at its own expense, insurance, with a financially sound and reputable insurer, reasonably
sufficient to cover such Party’s activities and obligations under this Agreement with minimum coverage amounts customary for the activities of such Party hereunder in the jurisdiction(s) where such activities are performed. Each Party will
furnish at the request of the other Party a certificate(s) reflecting relevant insurance coverage and limits. Each Party will name the other as an additional insured on the policies for the coverage required herein. 

 

	17.	GENERAL PROVISIONS 

 17.1. Affiliates. Each Party may perform any obligations and
exercise any rights hereunder through any of its Affiliates subject to such Party intimating to the other Party the identity of the Affiliate and providing documents evidencing that the Person is an Affiliate of the Party. Each Party hereby
guarantees the performance by its Affiliates of such Party’s obligations under this Agreement, and will cause its Affiliates to comply with the provisions of this Agreement in connection with such performance. Any breach by a Party’s
Affiliate of any of such Party’s obligations under this Agreement will be deemed a breach by such Party, and the other Party may proceed directly against such Party without any obligation to first proceed against such Party’s Affiliate.

 17.2. Assignment. Each Party agrees that its rights and obligations under this Agreement may not be assigned or otherwise
transferred to a Third Party without the prior written consent of the other Party hereto. Notwithstanding the foregoing, either Party may transfer or assign its rights and obligations under this Agreement to (a) an Affiliate, subject to the
prior notice to the other Party and the assigning Party remaining responsible for such Affiliate’s performance or (b) a successor to all or substantially all of its business or assets relating to this Agreement whether by sale, merger,
operation of law or otherwise, without the prior written consent of the other Party; provided that such assignee or transferee has agreed to be bound by the terms and conditions of this Agreement. Subject to the foregoing, this Agreement shall be
binding upon and inure to the benefit of the Parties hereto, their successors and assigns. 
 17.3. Severability. If any clause,
provision, or Section of this Agreement attached hereto, shall, for any reason, be held illegal, invalid or unenforceable, the Parties shall negotiate in good faith and in accordance with reasonable standards of fair dealing, a valid, legal,
and enforceable substitute provision or provisions that most nearly reflect the original intent of the Parties under this Agreement in a manner that is commensurate in magnitude and degree with the changes arising as a result of any such substitute
provision or provisions. All other provisions in this Agreement shall remain in full force and effect and shall be construed in order to carry out the original intent of the Parties as nearly as possible (consistent with the necessary reallocation
of benefits) and as if such invalid, illegal, or unenforceable provision had never been contained herein. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 17.4. Merger of Understandings; Amendment. This Agreement (including the Exhibits attached
hereto) and the JDLA as referenced herein constitute the entire agreement between the Parties regarding the subject matter hereof, and all prior negotiations and understandings between the Parties (except for the JDLA as referenced herein) regarding
the subject matter hereof are deemed to be merged into this Agreement. No agreement or understanding varying or extending this Agreement or waiver of any right hereunder shall be binding upon either Party hereto, unless set forth in a writing which
specifically refers to the Agreement signed by duly authorized officers or representatives of the respective Parties, and the provisions hereof not specifically amended thereby shall remain in full force and effect. 

17.5. Waiver. Any waiver of the terms and conditions hereof must be explicitly in writing and executed by a duly authorized officer of
the Party waiving compliance. The waiver by either of the Parties of any breach of any provision hereof by the other shall not be construed to be a waiver of any succeeding breach of such provision or a waiver of the provision itself. The delay or
failure of any Party at any time to require performance of any provision of this Agreement shall in no manner affect such Party’s rights at a later time to enforce the same. 

17.6. Notices. Any notice, report or other communication required or permitted to be given by either Party under this Agreement shall
be given in writing and may be delivered by hand, reputable international 3- or 4-day courier service or by mailing, if mailed by registered or certified mail, postage prepaid and return receipt requested (or the international equivalent), or by
email or fax (with printed confirmation of transmission and with confirmation copy forwarded by reputable international 3- or 4-day courier service), addressed to each Party as follows. Such information may be updated by a Party upon written notice
to the other Party. A notice shall be deemed delivered upon receipt, unless the notice is received on a day other than a Business Day in the jurisdiction of the recipient or after 5:30 p.m. at the location of delivery, in which case delivery shall
be deemed to be the next Business Day after receipt (as determined in the jurisdiction of recipient). 
  

					
	For Pfenex:	 		  	Pfenex Inc.
		 		  	10790 Roselle Street
		 		  	San Diego, CA 92121
		 		  	Attn: Patrick Lucy
		 		  	Fax: +1 978 887-4972
		 		  	Email: PKL@Pfenex.com
			
	For Agila:	 		  	Agila Biotech Private Limited
		 		  	Strides House, Bilekehalli
		 		  	Bannerghatta Road
		 		  	Bangalore-560076
		 		  	Attention: Legal Department
		 		  	Fax: 080 67840800
		 		  	Email: legal@stridesarco.com

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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 17.7. Force Majeure. Neither of the Parties shall be liable for any default or delay in
performance of any obligation under this Agreement caused by any of the following: Act of God, war, terrorism, riot, fire, explosion, accident, flood, sabotage, compliance with governmental requests, laws, regulations, orders or actions, national
defense requirements or any other event beyond the reasonable control of such Party, or labor trouble, strike, lockout or injunction (provided that neither of the Parties shall be required to settle a labor dispute against its own best judgment).
The Party invoking the provisions of this Section 17.7 shall give the other Party written notice and full particulars of such force majeure event. Both Pfenex and Agila shall use reasonable efforts to mitigate the effects of any force majeure
on their respective part. 
 17.8. Relationship of the Parties. The relationship of Pfenex and Agila is strictly one of independent
contractors and the Parties acknowledge that this Agreement does not create a partnership, or the like, between them. Pfenex and Agila shall always remain independent contractors in its performance of this Agreement. Neither Party shall have any
authority to employ any individual as an employee or agent for or on behalf of the other Party to this Agreement for any purpose, and neither Party, nor any person performing any duties or engaging in any work at the request of such Party, shall be
deemed to be an employee or agent of the other Party. 
 17.9. Choice of Law. All questions with respect to the construction of this
Agreement and the rights and liabilities of the Parties hereto shall be determined in accordance with the laws of England and Wales, save for the provisions of Applicable Laws of the JVC Venue that shall apply mandatorily to any of the Parties or
any transaction, matter or thing under this Agreement which shall prevail, without regard to any provisions of conflicts of law and shall not be governed by the United Nations Convention on Contracts for the International Sale of Goods. 

17.10. Dispute Resolution. 

17.10.1 General. If the Parties are unable to resolve any dispute or other matter arising out of or in connection with this Agreement,
either Party may, by written notice to the other, have such dispute referred to the Chief Executive Officers of Parties for attempted resolution by good faith negotiations promptly after such notice is received. In such event, each Party shall cause
its Chief Executive Officers to meet (face-to-face or by teleconference) and be available to attempt to resolve such issue. If the Parties should resolve such dispute or claim, a memorandum setting forth their agreement will be prepared and signed
by both Parties if requested by either Party. The Parties shall cooperate in an effort to limit the issues for consideration in such manner as narrowly as reasonably practicable in order to resolve the dispute. 

17.10.2 Arbitration. In the event that the Parties are unable to resolve any such matter subject to Section 17.10.1 within sixty
(60) days from the date such dispute was referred to the Chief Executive Officers of the Parties, then either Party may initiate arbitration pursuant to this Section 17.10.2. Any arbitration under this Section 17.10.2 shall be
conducted in English under the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”) in Singapore by a single arbitrator mutually selected by the Parties or otherwise selected in accordance with such rules. In
such arbitration, the arbitrator shall select an independent expert with significant experience relating to the subject matter of such dispute to advise the arbitrator with respect to the subject matter of the dispute. If the Parties are unable to
agree on an arbitrator, the arbitrator shall be selected by the chief executive of SIAC. The costs of such arbitration shall be shared equally by 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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the Parties, and each Party shall bear its own expenses in connection with the arbitration. The Parties shall use good faith efforts to complete arbitration under this Section 17.10.2 within
sixty (60) days following the initiation of such arbitration. The arbitrator shall establish reasonable additional procedures to facilitate and complete such arbitration within such sixty (60) day period. Notwithstanding anything contained
herein or the Arbitration Rules of the SIAC, the Parties agree that the Courts of Singapore shall have exclusive jurisdiction for seeking any equitable or interim relief or provisional remedy, including injunctive relief. 

17.11. Provisions Contrary to Law. In performing this Agreement, the Parties shall comply with all Applicable Laws. Nothing in this
Agreement shall be construed so as to require the violation of any law, and wherever there is any conflict between any provision of this Agreement and any law the law shall prevail, but in such event the affected provision of this Agreement shall be
affected only to the extent necessary to bring it within the Applicable Laws. 
 17.12. Legal Fees. Except as otherwise provided
herein, each Party shall bear its own legal fees incurred in connection with the transactions contemplated hereby or the enforcement hereof. 

17.13. Headings. Headings herein are for convenience of reference only and shall in no way affect interpretation of this Agreement.

 17.14. Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all Parties had
signed the same document. All such counterparts shall be deemed an original, shall be construed together and shall constitute one and the same instrument. 

17.15. Exhibits. The appended Exhibits and any modifications or amendments thereof form an integral part of this Agreement. 

[The remainder of this page left blank intentionally; signature page follows immediately behind.] 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 -33- 

 IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized representatives to execute this
Agreement as of the Effective Date. 
  

									
	PFENEX INC.	 		 	AGILA BIOTECH PRIVATE LIMITED
					
	By:	 	 /s/ Bertrand C. Liang
	 		 	By:	 	 /s/ Anand Iyer

					
	Name:	 	 Bertrand C. Liang
	 		 	Name:	 	 Anand Iyer

					
	Title:	 	 CEO
	 		 	Title:	 	 CEO

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT 1 

SHAREHOLDER RESERVED MATTERS 
  

	A.	Any changes to the capitalization of the JVC, including the issuance of additional shares of an existing class or the creation of additional classes of shares; 

 

	B.	Any changes to the constituent documents of the JVC, including but not limited to, this Agreement and other agreements executed pursuant to the same; 

 

	C.	Any equity financings; 

  

	D.	Any dividends or distribution of profits to the Parties, other than distributions for taxes, that would have the effect of causing a material deterioration in the consolidated financial leverage of the JVC;

  

	E.	Material acquisitions or dispositions of assets outside the ordinary course of business or other extraordinary transactions; 

  

	F.	Material changes to the accounting policies and/or tax election of the JVC; 

  

	G.	The liquidation of the JVC; 

  

	H.	Any merger or combination of the JVC with any other Person; 

  

	I.	The JVC entering into any contract, other than as set forth in the applicable Plan and Budget or Semi-annual Plan and Budget; 

  

	J.	Any capital expenditure, other than as set forth in the applicable Plan and Budget or Semi-annual Plan and Budget; 

  

	K.	Any material capital investment in, or any material loan to, any Person outside of the ordinary course of business; 

  

	L.	Any material change to the JVC’s business scope as set forth in this Agreement on the Effective Date; 

  

	M.	Any contracts (and any amendments or modifications thereto) between any Party or its Affiliates and the JVC, and termination or extension thereof; 

 

	N.	Hiring of any direct employee or consultant by the JVC; and 

  

	O.	Grant of any license to any JVC Technology to any Third Party for any purpose other than manufacturing and/or commercializing any JVC Product. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 EXHIBIT 2 

DEED OF ADHERENCE 
 THIS DEED OF ADHERENCE (this
“Deed”) is entered into at [—] this [—] day of [—], 20[—] 
 BY: 

[—] <To specify the name and address of the new shareholder(s) purchasing shares in the Company>, a
company incorporated and existing under the laws of [—] and having its registered office at [—] (hereinafter referred to as “the New
Shareholder”); 
 IN FAVOUR OF 

Pfenex Inc., a Delaware corporation with a principal place of business located at 10790 Roselle Street, San Diego, CA 92121 (hereinafter
referred to as “Pfenex”); 
 Agila Biotech Private Limited, an India corporation with a principal place of business located
at Strides House, Bilekahalli, Bannerghatta Road, Bangalore 560 076, India (hereinafter referred to as “Agila”). 
 <To
specify the name and address of the JVC> 
 (to include any other Parties to the JV Agreement) 

WHEREAS: 
 A. Pfenex and Agila
(collectively, the “JV Parties”) entered into a Joint Venture Agreement dated [—] (hereinafter referred to as the “Agreement”); 

B. Pursuant to a [share purchase agreement] dated [—] (the “New
Agreement”), the New Shareholder has acquired [—] Shares (the “Securities”) of the Company, from [ insert name] (the “Selling Shareholder”); 

C. As contemplated in the Agreement, the New Shareholder is required to enter into this Deed. 

NOW THE DEED WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS: 

 

	 	1.	Definitions and Interpretation 

 1.1 Capitalised terms used but not defined in this Deed shall,
unless the context otherwise requires, have the respective meaning ascribed thereto in the Agreement. 
 1.2 The provisions of
Section 1.23 of the Agreement shall apply mutatis mutandis to this Deed and shall be deemed to be incorporated herein by reference as if the same were reproduced herein with references therein to this Agreement being references to this Deed.

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	2.	Terms of Adherence 

 2.1 The New Shareholder hereby acknowledges that it has received, read and
understood the Agreement and the Articles of Association of the JVC. 
 2.2 The New Shareholder hereby agrees, undertakes and covenants with
the JV Parties that with effect from the date on which the New Shareholder has been registered as a member of the JVC, it shall adhere to, be bound by and act in accordance with the provisions .of the Agreement which were applicable to the Selling
Shareholder and are capable of applying to the New Shareholder as if the New Shareholder were a Party to the Agreement in addition to or in place of the Selling Shareholder. 
  

	 	3.	Representations and Warranties 

 3.1 The New Shareholder hereby represents and warrants to the
JV Parties that: 
 3.1.1 It is duly incorporated and validly existing as a corporation under the laws of its place of incorporation and has
full power, capacity and authority to execute, deliver and perform this Deed and has taken all necessary actions (corporate, statutory or otherwise) to execute and authorise the execution, delivery and performance of this Deed; <To be modified
appropriately if the New Shareholder is an individual> 
 3.1.2 This Deed upon execution and delivery by it shall constitute a legal and
binding obligation on it enforceable against it in accordance with its terms; 
 3.1.3 The discharge by it of the obligations and
liabilities under the Agreement and the performance by it of the acts and transactions contemplated hereby do not and will not (whether with or without the giving of notice or lapse of time or both), violate, conflict with, require any consent under
or result in a breach of or default under: 
 (a) any law to which it is subject; or 

(b) any term, condition, covenant, undertaking, agreement or other instrument to which it is a party or by which it is bound;

 3.1.4 To the best of its information and knowledge, there are no legal, quasi-legal, administrative, arbitration, mediation, conciliation
or other proceedings, claims, actions, governmental investigations, orders, judgments or decrees of any nature made, existing, threatened, anticipated or pending against it which may prejudicially affect its holding of the Securities or the due
performance or enforceability of the Agreement or this Deed or any obligation, act, omission or transaction contemplated thereunder or hereunder. 
  

	 	4.	Incorporation of Provisions of the Agreement 

 This Deed is supplemental to the Agreement and
the provisions of Section 17.9 (Choice of Law) and 17.10 (Dispute Resolution) the Agreement shall apply mutatis mutandis to this Deed and shall be deemed to be incorporated herein by reference as if the same were reproduced herein with
references therein to this Agreement being references to this Deed. 

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 -2- 

	 	5.	Notices to the New Shareholder 

 The address of the New Shareholder for the purpose of receiving the notices
under the Agreement is as under: 
 New Shareholder 
  

			
	Kind Attention	  	: [—] <Insert details>
		
	 Address
	  	: [—] <Insert details>
		
	Facsimile	  	: [—] <Insert details>

  

	 	6.	Benefit of this Agreement 

 This Agreement is made for the benefit of the JV Parties. The New
Shareholder agrees and acknowledges that either JV Party may enforce the terms of the Agreement against it and seek the remedies contained in the Agreement against it. 

IN WITNESS WHEREOF, this Deed has been executed on the day and year first above written. 

			
		
	 SIGNED, SEALED AND DELIVERED
	 	)
		
	 BY AND ON BEHALF OF
	 	)
		
	 the New Shareholder
	 	)
		
	 by [—] (authorized signatory)
	 	)
		
	 [Position]
	 	)
		
	 [Witness]
	 	)
		
	 Common Seal of
	 	)
		
	 “New Shareholder”
	 	)
		
	 to be affixed hereunto if
	 	)
		
	 required under the Articles of Association
	 	)

  
 [*] Certain information in this document
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 -3-

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