Document:

EX-10.22

 [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and
filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Exhibit
10.22 
  

							
	 UNIVERSITY OF CALIFORNIA, BERKELEY
  

OFFICE OF TECHNOLOGY LICENSING
		 	

 	  		

  
  

 
 EXCLUSIVE LICENSE 

BETWEEN 
 ADURO BIOTECH
INC 
 AND 
 THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA 
 FOR 

LISTERIA MONOCYTOGENES PHAGE INTEGRATION VECTOR 
  

			
			 UC Case No.: [ * ]
 U.S. Patent Nos. [
* ];
 U.S. Patent Application Serial No. [ * ];

Foreign Patent Nos. [ * ]

  
  

 

					
	 UNIVERSITY OF CALIFORNIA, BERKELEY
  

OFFICE OF TECHNOLOGY LICENSING
		 

		

  
  

 
 EXCLUSIVE LICENSE 

FOR 
 LISTERIA
MONOCYTOGENES PHAGE INTEGRATION VECTOR 
  

			
			 UC Case No.: [ * ]
 U.S. Patent Nos. [
* ];
 U.S. Patent Application Serial No.[ * ];

Foreign Patent Nos. [ * ]

  
  

 
 This Exclusive License Agreement
(“Agreement”) is effective March 15, 2012 (“Effective Date”) by and between THE REGENTS OF THE UNIVERSITY OF CALIFORNIA, a California corporation, whose legal address is 1111 Franklin Street, 12th Floor, Oakland,
California 94607-5200, acting through its Office of Technology Licensing, at the University of California, Berkeley, 2150 Shattuck Avenue, Suite 510, Berkeley, CA 94704-1347 (“REGENTS”) and ADURO BIOTECH, INC, a Delaware corporation
having a principal place of business at 626 Bancroft Way, Berkeley, CA 94710-2224 (“LICENSEE”). The parties agree as follows. 
  

	1.	BACKGROUND 

  

	 	1.1	REGENTS has an assignment of the “[ * ]”, invented by [ * ], employed by the University of California, Berkeley (the “INVENTION”), as described in REGENTS’ Case No. [ * ]
and to the patents and patent applications under REGENTS’ PATENT RIGHTS as defined below, which are directed to the INVENTION. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 1 of 34 

	 	1.2	LICENSEE entered into a Secrecy Agreement with REGENTS effective April 13, 2010, terminating on April 13, 2015, for the purpose of evaluating the INVENTION. LICENSEE further entered into an Option to Negotiate
an Exclusive License dated December 15, 2010 terminating on March 15, 2012 (the “Option”) with REGENTS granting LICENSEE an exclusive right to negotiate an option or exclusive license in REGENTS’ PATENT RIGHTS to the
INVENTION, which Option covers LICENSEE’s commitment to reimburse REGENTS’ future patent costs during the period of good-faith negotiation for an exclusive license. 

 

	 	1.3	LICENSEE has provided REGENTS with a commercialization plan for the INVENTION and business strategy in order to evaluate its capabilities as a LICENSEE. 

 

	 	1.4	The development of the INVENTION was sponsored in part by various grants by U.S. Government agencies, and as a consequence, REGENTS elected to retain title to the INVENTION subject to the rights of the U.S. Government
under 35 USC 200-212 and implementing regulations, including that REGENTS, in turn, has granted back to the U.S. Government a non-exclusive, non-transferable irrevocable, paid-up license to practice or have practiced the INVENTION for or on
behalf of the U.S. Government throughout the world. These U.S. Government grants are National Institutes of Health Contract Nos. AI027655 and AI029619. 

  

	 	1.5	REGENTS and LICENSEE wish to have the INVENTION perfected and marketed so that products resulting therefrom may be available for public use and benefit on a timeline that is reasonable in light of the financing and
development requirements of such products. 

  

	 	1.6	LICENSEE wishes to acquire, and REGENTS wishes to grant to LICENSEE, an exclusive license under the REGENTS’ PATENT RIGHTS for the purpose of undertaking development and to manufacture, use, sell, offer for sale
and import LICENSED PRODUCT(S) as defined below. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 2 of 34 

	2.	DEFINITIONS 

  

	 	2.1	“AFFILIATE” of LICENSEE means any entity that, directly or indirectly, Controls LICENSEE, is Controlled by LICENSEE, or is under common Control with LICENSEE. “Control” means (i) having the
actual, present capacity to elect a majority of the directors of such affiliate, (ii) having the power to direct at least [ * ] of the voting rights entitled to elect directors, or (iii) in any country where the local law will not
permit foreign equity participation of a majority, ownership or control, directly or indirectly, of the maximum percentage of such outstanding stock or voting rights permitted by local law so long as control is secured by such ownership.

  

	 	2.2	“CRE” shall mean efforts and diligence in developing and commercializing LICENSED PRODUCTS, and in undertaking investigations and actions required to obtain regulatory approvals, necessary to market LICENSED
PRODUCTS in the LICENSED FIELD in the Territory, such reasonable efforts and diligence to be, on a country-by-country basis, in accordance with the efforts and resources LICENSEE would use for a product candidate owned by it or to which it has
rights, which is of similar market potential as the applicable LICENSED PRODUCT, taking into account the competitiveness of the marketplace, the proprietary position of the LICENSED PRODUCT, the relative potential safety and efficacy of the LICENSED
PRODUCT, the cost of goods and availability of capacity to manufacture and supply the LICENSED PRODUCT at commercial scale, the profitability of the applicable LICENSED PRODUCT, and other relevant factors including, without limitation, technical,
legal, scientific or medical factors. CRE does not include LICENSEE [ * ] a LICENSED PRODUCT (including active study of dosage, formulation, or safety issues) for [ * ]. 

 

	 	2.3	“LICENSED FIELD OF USE” means any and all uses. 

  

	 	2.4	“LICENSED METHOD” means any process or method the use or practice of which, but for the license pursuant to this Agreement, would infringe any VALID CLAIM under REGENTS’ PATENT RIGHTS in that country in
which the LICENSED METHOD is used or practiced. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 3 of 34 

	 	2.5	“LICENSED PRODUCTS” means all products or component parts or services, the manufacture, use, SALE, offer for SALE, or import of which: a) would require the performance of the LICENSED METHOD; or b) but for the
license granted pursuant to this Agreement, would infringe a VALID CLAIM under REGENTS’ PATENT RIGHTS. 

  

	 	2.6	“LICENSED SERVICE” means provision of a service for a third party, the performance of which comprises the use of a LICENSED METHOD or a LICENSED PRODUCT. 

 

	 	2.7	“LICENSED TERRITORY” means worldwide, where REGENTS PATENT RIGHTS exist. 

  

	 	2.8	“NET SALES” means amounts invoiced by LICENSEE or a sublicensee for SALES of LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHODS in the Territory less the sum of the following actual and customary
deductions where applicable: cash, trade or quantity discounts including, without limitation, discounts or rebates to governmental, supranational, buying groups (such as PAHO, UNICEF, or the Gulf Consortium), or managed care organizations, credits
or deductions for rejected product, returns, expired product or bad debts; sales, use, tariff, import/export duties or other excise taxes or duties (but not income taxes derived from such sales); and handling and transportation charges; and value
added taxes but only to the extent such tax is not subject to a credit and deduction to a taxing authority. 

  

	 	2.9	“REGENTS’ PATENT RIGHTS” means all of REGENTS’ rights, title and interests in the following: 

  

	 	i.	[ * ]; 

  

	 	ii.	[ * ]; 

  

	 	iii.	[ * ]; 

  

	 	iv.	[ * ]; 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 4 of 34 

	 	v.	[ * ]; 

  

	 	vi.	[ * ]; 

  

	 	vii.	[ * ]; 

  

	 	viii.	[ * ]; 

  

	 	ix.	[ * ]; 

  

	 	x.	[ * ]; 

  

	 	xi.	[ * ]; 

  

	 	xii.	[ * ]; 

  

	 	xiii.	and continuing applications thereof including divisions, substitutions, extensions and continuation-in-part applications (only to the extent, however, that claims in the continuation-in-part applications are entitled to
the priority filing date of the parent patent application), any patents issuing on said application or continuing applications including reissues; and any corresponding foreign patents or applications. 

 

	 	2.10	“SALE” means, for LICENSED PRODUCTS and LICENSED SERVICES, the act of selling, leasing or otherwise transferring, providing, or furnishing such product or service, and for LICENSED METHOD the act of performing
such method for any consideration. Correspondingly, “SOLD” means to have made or caused to be made a SALE. 

  

	 	2.11	 “VALID CLAIM” shall mean a claim in an issued, unexpired patent or in a pending patent application (which claim is pending for no more than
[ * ] years) within Licensed Patent Rights that (a) has not been cancelled, withdrawn, abandoned or rejected by any administrative agency or other body of competent jurisdiction from which no appeal has or can be taken, (b) has not
been revoked, held invalid, or 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 5 of 34 

	 	
declared unpatentable or unenforceable in a decision of a court or other body of competent jurisdiction that is unappealable or unappealed within the time allowed for appeal, (c) has not
been rendered unenforceable through disclaimer or otherwise, and (d) is not lost through an interference proceeding. If a claim is pending for more than [ * ] years and latter issues in a patent, then as of the patent issue date,
the claim again becomes a VALID CLAIM. 

  

	3.	GRANT 

  

	 	3.1	Subject to the terms and conditions set forth in this Agreement, including the license granted to the U.S. Government and the rights reserved in Paragraph 3.3, REGENTS hereby grants and LICENSEE hereby accepts an
exclusive worldwide royalty-bearing sublicensable license under REGENTS’ PATENT RIGHTS to make, have made, use, have used, SELL, have SOLD, import, and have imported LICENSED PRODUCTS and LICENSED SERVICES, and to practice the LICENSED METHOD,
in the LICENSED FIELD OF USE anywhere in the world to the extent such grant is legal, for ultimate use only by end users in the LICENSED TERRITORY. 

  

	 	3.2	The license under Paragraph 3.1 will be exclusive for a term commencing on the Effective Date and ending on the date of the last-to-expire VALID CLAIM under REGENTS’ PATENT RIGHTS, unless earlier terminated as
permitted herein. 

  

	 	3.3	Nothing in this Agreement will be deemed to limit the right of REGENTS to publish any and all technical data resulting from any research performed by REGENTS relating to the INVENTION. REGENTS expressly reserves the
right to use the INVENTION and related technology for its educational and research purposes; to disseminate the other tangible materials associated with, or required to practice the INVENTION and/or the REGENTS’ PATENT RIGHTS to researchers at
nonprofit institutions for their educational and research purposes. 

  

	 	3.4	This Agreement will terminate immediately if LICENSEE files a claim, including in anyway, the assertion that any portion of the REGENTS’ PATENT RIGHTS is invalid or unenforceable where the filing is by the
LICENSEE, a third party on behalf of the LICENSEE, or a third party at the written urging of the LICENSEE. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 6 of 34 

	 	3.5	LICENSEE will have a continuing responsibility to keep REGENTS informed of the large/small entity status, as defined in 15 U.S.C. 632, of itself and its sublicensees. 

 

	 	3.6	The INVENTION was funded in part by the U.S. Government. In accordance with PL 96-517 as amended by PL 98-620, to the extent required by law or regulation, any products covered by
patent applications or patents claiming the INVENTION and sold in the United States will be substantially manufactured in the United States.  

  

	4.	SUBLICENSES 

  

	 	4.1	REGENTS also grants to LICENSEE the right to sublicense to AFFILIATES and third parties some or all of its rights hereunder provided that LICENSEE has exclusive rights under this Agreement to the rights being
sublicensed at the time of sublicensing. LICENSEE agrees to use its CRE to ensure that all sublicensees fulfill their obligations under their sublicense. Every such sublicense will include: 

 

	 	(a)	a statement setting forth the date upon which LICENSEE’S exclusive rights, privileges, and license hereunder will expire; 

  

	 	(b)	as applicable, all the rights of, and require the performance of all the obligations due to, REGENTS (and, if applicable, the United States Government) under this Agreement other than those rights and obligations
specified in Article 5 (License Issue Fee) and Paragraph 6.5 (minimum annual royalty); 

  

	 	(c)	a provision requiring payment of royalties to LICENSEE in an amount sufficient to permit LICENSEE to meet its royalty obligations to REGENTS at the rates and bases set forth in this Agreement; and 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 7 of 34 

	 	(d)	the same provision for indemnification of REGENTS as has been provided for in this Agreement. 

  

	 	4.2	In the event LICENSEE grants a sublicense to the REGENTS’ PATENT RIGHTS, LICENSEE shall pay REGENTS [ * ] of any SUBLICENSING REVENUE (the “SUBLICENSING REVENUE PERCENTAGE” or “SLP”)
received by LICENSEE from such sublicensee where “SUBLICENSING REVENUE” means, up front license fee payments and/or annual license fees attributable to the grant of a sublicense of rights under this Agreement, but shall exclude, royalties,
milestone payments (but subject to the last paragraph of this subsection), research funding plus reasonable overhead and profit, amounts at up to [ * ] of fair market value directly for development, sales, and/or marketing activities, debt
financing at up to [ * ] of fair market value, purchase of equity at up to [ * ] of fair market value reimbursement of patent filing, prosecution and maintenance expenses. 

In the event a LICENSED PRODUCT(S) is modified or combined with other products or patents owned or controlled by LICENSEE or a third party as
part of a therapeutic or prophylactic vaccine, the SLP shall be reduced (the “Adjusted SLP”) to [ * ]. For sake of clarity, LICENSED PRODUCT(S) and LICENSED PATENTS are not adequate or sufficient to produce a vaccine for use in
humans. LICENSEE has made multiple modifications to the LICENSED PRODUCT(S) in one or more preclinical candidates to make suitable for use in humans, including without limitation removal of antibiotic resistance, addition of transcriptional
terminators, and/or selection of a promoter. In addition, LICENSEE’S vaccine platform includes multiple proprietary elements, including but not limited to ActA deletion in vaccine strain, InlB deletion in vaccine strain, codon optimization in
vaccine strain, selection of antigen in vaccine strain, selection of additional antigen in vaccine strain, manufacturing of vaccine, formulation of vaccine, and combination of vaccine with another therapy/therapeutic, and further modifications and
combinations may be necessary. 
 In the event a LICENSED PRODUCT(S) is combined with other products to produce a commercial product that is
not a vaccine, where SLP is the sublicensing revenue percentage set forth in Article 4.2 (“Sublicensing Revenue Percentage”), C is [ * ] and B is the total combined Sublicensing Revenue Percentage: 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 8 of 34 

 Adjusted Sublicensing Revenue Percentage = SLP × (C/B) 

- or - 
 Adjusted SLP = [ *
]% × [ * ]%/B 
 However, in no event shall the adjustments contemplated by this paragraph reduce the effective
Sublicensing Revenue Percentage payable to Regents to less than [ * ]. 
  

	 	4.3	LICENSEE will notify REGENTS of each sublicense granted hereunder and furnish to REGENTS a copy of each such sublicense agreement, provided any provisions that are not relevant to LICENSEE’S fulfillment of its
obligations under this Agreement may be redacted. 

  

	 	4.4	LICENSEE will deliver all reports due REGENTS and received from sublicensees. 

  

	 	4.5	AFFILIATES will have no licenses under REGENTS’ PATENT RIGHTS except as granted by sublicense pursuant to this Agreement. 

  

	 	4.6	LICENSEE will collect and guarantee payment of all monies and other consideration due REGENTS as a consequence of sublicenses, and deliver all reports due REGENTS and received from sublicensees, provided LICENSEE may
require sublicensees to make reports and payments directly to REGENTS in the interests of timing. 

  

	 	4.7	Upon termination of this Agreement for any reason, all sublicenses that are granted by LICENSEE pursuant to this Agreement where the sublicensee is in compliance with its sublicense agreement as of the date of such
termination will remain in effect and, will be assigned to REGENTS except that REGENTS will not be bound to perform any duties or obligations set forth in any sublicenses that extend beyond the duties and obligations of REGENTS set forth in this
Agreement. 

  

	 	4.8	 If REGENTS (to the extent of the actual knowledge of the licensing professional responsible for administration of this case) or a third party
discovers and notifies that licensing professional that the INVENTION is useful for a new and novel application covered by the LICENSED FIELD OF USE (the “NEW USE”) based 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 9 of 34 

 
upon substantial and reliable scientific data, but for which LICENSED PRODUCTS have not been developed or are not currently under development by LICENSEE, then REGENTS, as represented by the
Office of Technology Licensing, shall give written notice to LICENSEE with full details so that LICENSEE can make a decision as to development except for: 1) information that is subject to restrictions of confidentiality with third parties, and 2)
information which originates with REGENTS’ personnel who do not assent to its disclosure to LICENSEE. 
 LICENSEE shall have [ *
] days to give REGENTS written notice stating whether LICENSEE elects to develop LICENSED PRODUCTS for the application, a longer period may be mutually agreed to consider the novel use and the scientific basis for the same. 

If LICENSEE elects to develop and commercialize the proposed LICENSED PRODUCTS for the new application, LICENSEE shall submit a commercially
reasonable development and commercialization plan within [ * ] days of such notice and provide progress reports pursuant to Article 8. 

If LICENSEE elects not to develop and commercialize the proposed LICENSED PRODUCTS for use in the new application, REGENTS may seek
(a) third party(ies) to develop and commercialize the proposed LICENSED PRODUCTS for the new application. If REGENTS is successful in finding a third party, it shall refer such third party to LICENSEE. If the third party requests a sublicense
under this Agreement, then LICENSEE shall report the request to REGENTS within [ * ] days from the date of such written request. If the request results in a sublicense, then LICENSEE shall report it to REGENTS pursuant to Paragraph 4.3. 

LICENSEE agrees to negotiate in good faith with such third party to agree upon a sublicense of rights to develop a product solely for the NEW
USE on commercially reasonable terms. If LICENSEE and the third party are unable agree on the terms for such a sublicense, then within [ * ] days after such refusal LICENSEE shall submit to REGENTS a report specifying the license terms
proposed by the third party and a written justification for LICENSEE’s refusal to grant the proposed sublicense. If REGENTS, at its sole discretion determines that the terms of the sublicense proposed by the third party are reasonable under the
totality of the 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 10 of 34 

 
circumstances, taking into account LICENSEE’s LICENSED PRODUCTS in development and the commercial and other circumstances and considerations relating to LICENSEE’s development and
commercialization efforts of LICENSED PRODUCTS, then REGENTS shall have the right to grant to the third party a license to make, have made, use, sell, offer for sale and import products for use in the LICENSED FIELD OF USE at substantially the same
terms last proposed to LICENSEE by the third party providing the commercial terms of such license, including but not limited to royalty rates, are at least equal to those paid by LICENSEE. 

 

	5.	LICENSE ISSUE FEE 

  

	 	5.1	LICENSEE will pay to REGENTS a non-creditable, non-refundable license issue fee of Twenty Five Thousand U.S. Dollars ($25,000) due upon signing of this Agreement. 

 

	 	5.2	This fee is non-refundable and not an advance against royalties. 

  

	6.	ROYALTIES 

  

	 	6.1	LICENSEE will pay to REGENTS earned royalties at the rate of [ * ] of the NET SALES of LICENSED PRODUCT(S) OR LICENSED METHOD; subject to the following: 

 

	 	i.	If LICENSEE [ * ] to make any payment (including royalties or other license fees) to a third party to obtain a license or other patent rights [ * ], such third party payments will be creditable against
amounts owed to REGENTS in the order such amounts are owed until fully credited, provided that [ * ] will credits reduce royalties owed to REGENTS by more than [ * ] of amounts owed to REGENTS [ * ]. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 11 of 34 

	 	ii.	Modified or Combined Royalty Adjustment 

 In the event a LICENSED PRODUCT(S) is modified by or
combined with other products or patents owned or controlled by third party in order to produce product(s) for development or commercialization, whether by LICENSEE or a LICENSEE sublicensee, in which the commercial product is a therapeutic or
prophylactic vaccine, the earned royalty due to REGENTS shall be adjusted to [ * ]. 
 In the event a LICENSED PRODUCT(S) is combined
with other technologies patented by third party in order to produce product(s) for development or commercialization, whether by LICENSEE or a LICENSEE sublicensee, in which the commercial product is not a vaccine and the total combined royalty
burden on Net Sales exceeds [ * ], the earned royalty due to REGENTS shall be adjusted according to the following formula, where R is the royalty set in the first paragraph of this paragraph 6.1 (“Set Royalty”), C is [ * ]
and B is the total combined royalty burden. 
 Adjusted royalty = R × (C/B) 

For example, if LICENSEE’s total combined royalty is [ * ] and the Set Royalty is [ * ], the adjusted royalty due to
REGENTS would be [ * ] × [ * ], or [ * ]. Notwithstanding the foregoing, in no event shall the royalty due to REGENTS under the above formula for a product that is not a therapeutic or prophylactic vaccine be less than
[ * ] of the Set Royalty. If LICENSEE utilized the unadjusted Sublicensing Revenue Percentage in 4.2, then LICENSEE may not adjust Net Royalty from a sublicense under 6.1. 

 

	 	6.2	Royalties will be payable on SALES covered by both pending patent applications and issued patents. 

  

	 	6.3	Royalties accruing to REGENTS will be paid to REGENTS quarterly within [ * ] days after the end of each calendar quarter, and [ * ] days with respect to NET SALES by sublicensees. 

 

	 	6.4	LICENSEE will also pay to REGENTS an annual license maintenance fee of Five Thousand Dollars ($5,000) beginning on the first anniversary date of the Effective Date and on each anniversary of the Effective Date
thereafter during the term of the AGREEMENT until the first SALE by LICENSEE of a LICENSED PRODUCT. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 12 of 34 

	 	6.5	Beginning in the first calendar year after the first occurrence of NET SALES and in each succeeding calendar year thereafter, LICENSEE will pay to the REGENTS a minimum annual royalty of [ * ] for the life of
this Agreement. This minimum annual royalty will be paid to the REGENTS by January 30 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment was made. 

 

	 	6.6	LICENSEE will pay the following one-time milestone payment: 

  

	 	(a)	For the first LICENSED PRODUCT, LICENSEE shall pay to REGENTS a milestone payment of [ * ] upon [ * ] and; 

  

	 	(b)	For the first LICENSED PRODUCT, LICENSEE shall pay to REGENTS a milestone payment of [ * ] upon [ * ] and; 

  

	 	(c)	For the first LICENSED PRODUCT, LICENSEE shall pay to REGENTS a milestone payment of [ * ] upon [ * ]. 

  

	 	6.7	All payments due REGENTS will be payable in United States Dollars. When LICENSED PRODUCTS, LICENSED SERVICES, or LICENSED METHOD are SOLD for monies other than United States Dollars, royalties will first be determined
in the foreign currency of the country in which the SALE was made and then converted into equivalent United States Dollars. The exchange rate will be that rate quoted in the Wall Street Journal on the average of last [ * ] business
days of the reporting period. 

  

	 	6.8	Payments due for SALES occurring in any country outside the United States will be reduced by any taxes, fees, or other charges imposed by the government of such country on the remittance of royalty income. LICENSEE will
also be responsible for all bank transfer charges, shall cooperate with REGENTS in the recovery of any amounts paid by LICENSEE on REGENTS’ behalf. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 13 of 34 

	 	6.9	LICENSEE will make all payments under this Agreement by check payable to “The Regents of the University of California” and forward it to REGENTS at the address shown in Article 23 (Notices). 

 

	 	6.10	No earned royalties will be collected or paid to REGENTS hereunder on SALES to, or for use by, the United States Government. LICENSEE will reduce the amount charged for such SALES by an amount equal to the earned
royalty otherwise due REGENTS as provided herein. 

  

	7.	DUE DILIGENCE 

  

	 	7.1	LICENSEE will use its CRE to proceed with the development, manufacture, and SALE of LICENSED PRODUCTS, LICENSED SERVICES, and the LICENSED METHOD, and will use its CRE to manufacture them in quantities sufficient to
meet the market demand. 

  

	 	7.2	In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving the following objectives in its due diligence activities under this Agreement: 

 

			
	Due Diligence Objective for Polyvalent Vaccine	  	Year Completed
		
	[ * ]	  	[ * ]
		
	[ * ]	  	[ * ]
		
	[ * ]	  	[ * ]
		
	[ * ]	  	[ * ]
		
	[ * ]	  	[ * ]

  

	 	7.3	 If LICENSEE is unable to meet any of its diligence obligations set forth in Paragraphs 7.1 and 7.2, then REGENTS will so notify LICENSEE of failure to
perform. LICENSEE will have the right and option to extend the target date of any such due diligence obligation for a period of [ * ] months upon the payment of [ * ] within [ * ] days of the date to be extended for each such
extension option exercised by LICENSEE, and all following milestone dates shall be adjusted accordingly. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 14 of 34 

	 	
LICENSEE may further extend the target date of any diligence obligation for an additional [ * ] months upon payment of an additional [ * ], and all following milestone dates shall
be adjusted accordingly. Additional extensions may be granted only by mutual written agreement of the parties to this Agreement. These payments are in addition to the minimum royalty payments specified in Paragraph 6.5. Should LICENSEE opt not to
extend the obligation or fail to meet it by the extended target date, then REGENTS will have the right and option either to terminate this Agreement or to reduce LICENSEE’s exclusive license to a non-exclusive royalty-bearing license. This
right, if exercised by REGENTS, supersedes the rights granted in Article 3. The right to terminate this Agreement or reduce LICENSEE’s exclusive license granted hereunder to a non-exclusive license will be REGENTS’ sole remedy for breach
of Paragraph 7.1 or 7.2. 

  

	 	7.4	At the request of either party, any controversy or claim arising out of or relating to the diligence provisions of Paragraphs 7.1 and 7.2 will be settled by a single arbitrator as part of an arbitration conducted in San
Francisco, California in accordance with the then current Licensing Agreement Arbitration Rules of the American Arbitration Association. Judgment upon the award rendered by the arbitrator(s) will be binding on the parties and may be entered by
either party in the court or forum having jurisdiction. In determination of due diligence, the arbitrator may determine solely the issues of fact or law with respect to termination of LICENSEE’s rights under this Agreement but will not have the
authority to award monetary damages or grant equitable relief. 

  

	 	7.5	To exercise either the right to terminate this Agreement or to reduce the license to a non-exclusive license for lack of diligence under Paragraph 7.1 or 7.2, REGENTS will give LICENSEE written notice of the deficiency.
LICENSEE thereafter has [ * ] days to cure the deficiency or to request arbitration. If REGENTS has not received a written request for arbitration or satisfactory tangible evidence that the deficiency has been cured by the end of the [ * ] -
day period, then REGENTS may, at its option, either terminate the Agreement or reduce LICENSEE’s exclusive license to a non-exclusive license by giving written notice to LICENSEE. These notices will be subject to Article 23 (Notices).

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 15 of 34 

	8.	PROGRESS AND ROYALTY REPORTS 

  

	 	8.1	For the period beginning March 31, 2012, LICENSEE will submit to REGENTS a semi-annual progress report covering LICENSEE’s activities related to the development and testing of all LICENSED PRODUCTS, LICENSED
SERVICES and LICENSED METHOD and the obtaining of necessary governmental approvals, if any, for marketing in the United States. These progress reports will be made for all development activities until the first SALE occurs in the United States.

  

	 	8.2	Each progress report will be a sufficiently detailed summary of activities of LICENSEE and any sublicensees so that REGENTS may evaluate and determine LICENSEE’s progress in development of LICENSED PRODUCTS,
LICENSED SERVICES, and LICENSED METHOD, and in meeting its diligence obligations under Article 7, and will include (to the extent relevant at the time of reporting) the following: summary of work completed and in progress; current schedule of
anticipated events and milestones, including diligence milestones under Paragraph 7.2; anticipated market introduction dates for the licensed territories; and sublicensee’s activities during the reporting period. 

 

	 	8.3	LICENSEE also will report to REGENTS in its immediately subsequent progress and royalty reports, the date of first SALE. 

  

	 	8.4	After the first SALE anywhere in the world, LICENSEE will make quarterly royalty reports to REGENTS within [ * ] days after the quarters ending March 31, June 30, September 30, and
December 31, of each year. Each such royalty report will include at least the following: 

  

	 	(a)	The number of LICENSED PRODUCTS manufactured and the number SOLD; 

  

	 	(b)	Gross revenue from SALE of LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHOD; 

  

	 	(c)	NET SALES pursuant to Paragraph 2.8; 

  

	 	(d)	Total royalties due REGENTS; and 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 16 of 34 

	 	(e)	Names and addresses of any new sublicensees along with a summary of the material terms of each new sublicense agreement entered into during the reporting quarter. 

 

	 	8.5	If no SALES have occurred during the report period, a statement to this effect is required in the royalty report for that period. 

  

	9.	BOOKS AND RECORDS 

  

	 	9.1	LICENSEE will keep full, true, and accurate books and records containing all particulars that may be necessary for the purpose of showing the amount of royalties payable to REGENTS and LICENSEE’s compliance with
other obligations under this Agreement. Said books and records will be kept at LICENSEE’s principal place of business or the principal place of business of the appropriate division of LICENSEE to which this Agreement relates. Said books and
records and the supporting data will be open at all reasonable times during normal business hours upon reasonable notice, for [ * ] years following the end of the calendar year to which they pertain, to the inspection and audit by
representatives of REGENTS for the purpose of verifying LICENSEE’s royalty statement or compliance in other respects with this Agreement. Such representatives will be bound to hold all information in confidence except as necessary to
communicate LICENSEE’s non-compliance with this Agreement to REGENTS. 

  

	 	9.2	The fees and expenses of REGENTS’ representatives performing such an examination will be borne by REGENTS. However, if an error in underpaid royalties to REGENTS of more than [ * ] of the total royalties due
for any year is discovered, then the fees and expenses of these representatives will be borne by LICENSEE. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 17 of 34 

	10.	LIFE OF THE AGREEMENT 

  

	 	10.1	Unless otherwise terminated by the operation of law or by acts of the parties in accordance with the terms of this Agreement, this Agreement will have the same terms as that of the licenses set forth in
Section 3.2. 

  

	 	10.2	Any termination of this Agreement shall not affect the rights and obligations set forth in the following articles: 

  

			
	 Article 2
  
		Definitions
	 Article 4
  
		Sublicenses
	 Article 9
  
		Books and Records
	 Article 10
  
		Life of the Agreement
	 Article 13
  
		Disposition of Licensed Products Upon Termination
	 Article 16
  
		Use of Names and Trademarks
	 Article 17
  
		Limited Warranties and Limit of Liability
	 Article 19
  
		Indemnification
	 Article 23
  
		Notices
	 Article 24
  
		Late Payments
	 Article 26
  
		Confidentiality
	Article 29		Applicable Law; Venue

  

	 	10.3	Any termination of this Agreement will not relieve LICENSEE of its obligation to pay any monies due or owing at the time of such termination and will not relieve any obligations, of either party to the other party,
accruing prior to termination. 

  

	11.	TERMINATION BY REGENTS 

 If LICENSEE materially breaches any material term of this
Agreement, then REGENTS may give written notice of such material breach (“Notice of Default”) to LICENSEE. If LICENSEE should fail to remedy such material breach within ninety (90) days of the effective date of such notice, REGENTS
will have the right to terminate this Agreement and the licenses herein by a second written notice (“Notice of Termination”) to LICENSEE. If a Notice of Termination is sent to LICENSEE, this Agreement will automatically terminate on the
effective date of such notice. Such termination will not relieve LICENSEE of its obligation to pay any royalty or license fees owing at the time of such termination and will not impair any accrued rights of REGENTS. These notices will be subject to
Article 23 (Notices). 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 18 of 34 

	12.	TERMINATION BY LICENSEE 

  

	 	12.1	LICENSEE will have the right at any time to terminate this Agreement in whole or as to any portion of REGENTS’ PATENT RIGHTS by giving notice in writing to REGENTS. Such notice of termination will be subject to
Article 23 (Notices) and termination of this Agreement will be effective ninety (90) days after the effective date of such notice. 

  

	 	12.2	Any termination pursuant to Paragraph 12.1 will not relieve LICENSEE of any obligation or liability accrued hereunder prior to such termination or rescind anything done by LICENSEE or any payments made to REGENTS
hereunder prior to the time such termination becomes effective, and such termination will not affect in any manner any rights of REGENTS arising under this Agreement prior to such termination. 

 

	13.	DISPOSITION OF LICENSED PRODUCTS UPON TERMINATION 

 Upon termination of this Agreement,
for a period of one year after the date of termination LICENSEE may complete and SELL any partially made LICENSED PRODUCTS and continue to render any previously commenced LICENSED SERVICES, and continue the practice of LICENSED METHOD only to the
extent necessary to do so; provided, however, that all such SALES will be subject to the terms of this Agreement including, but not limited to, the payment of royalties at the rate and at the time provided herein and the rendering of reports
thereon. 
  

	14.	PATENT PROSECUTION AND MAINTENANCE 

  

	 	14.1	 REGENTS will diligently prosecute and maintain the United States and foreign patent applications and patents under REGENTS’ PATENT RIGHTS,
subject to LICENSEE’S reimbursement REGENTS’ out of pocket costs under Article 14.3 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 19 of 34 

	 	
below, and all patent applications and patents under REGENTS’ PATENT RIGHTS will be held in the name of REGENTS. REGENTS will have sole responsibility for retaining and instructing patent
counsel chosen together with LICENSEE, but continued use of such counsel at any point in the patent prosecution process subsequent to initial filing of a U.S. patent application covering the INVENTION shall be subject to the approval of LICENSEE. If
LICENSEE rejects three of REGENTS’ choice of prosecution counsel, then REGENTS may select new prosecution counsel without LICENSEE’s consent. REGENTS shall promptly provide LICENSEE with copies of all documentation so that LICENSEE may be
currently informed and apprised of the continuing prosecution and LICENSEE agrees to keep this documentation confidential in accordance with Article 26. LICENSEE may comment upon such documentation provided, however, that if LICENSEE has not
commented upon such documentation in reasonable time for REGENTS to sufficiently consider LICENSEE’s comments prior to the deadline for filing a response with the relevant government patent office, REGENTS will be free to respond appropriately
without consideration of LICENSEE’s comments. LICENSEE and LICENSEE’s patent counsel will have the right to consult with patent counsel chosen by REGENTS. 

 

	 	14.2	REGENTS will use reasonable efforts to prepare or amend any patent application to include claims reasonably requested by LICENSEE to protect the LICENSED PRODUCTS contemplated to be SOLD or to be practiced under this
Agreement. 

  

	 	14.3	Subject to Paragraphs 14.4 and 14.5, all past (unreimbursed), present, and future costs for preparing, filing, prosecuting, and maintaining all United States and foreign patent applications, and patents under
REGENTS’ PATENT RIGHTS will be borne by LICENSEE, so long as the licenses granted to LICENSEE herein are exclusive. To date the unreimbursed past patent costs are approximately Twenty Thousand Two Hundred Eighty U.S. Dollars (U.S.$20,280)
Payments are due within [ * ] days after receipt of invoice from REGENTS. If, however, REGENTS reduces the exclusive licenses granted herein to non-exclusive licenses pursuant to Paragraphs 7.3, 7.4, or 7.5 and REGENTS grants additional
license(s), the costs of preparing, filing, prosecuting and maintaining such patent applications and patents will be divided equally among the licensed parties from the effective date of each subsequently granted license agreement.

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 20 of 34 

	 	14.4	LICENSEE’s obligation to underwrite and to pay all domestic and foreign patent filing, prosecution, and maintenance costs will continue for so long as this Agreement remains in effect, provided, however, that
LICENSEE may terminate its obligations with respect to any given patent application or patent in any or all designated countries upon [ * ] months’ written notice to REGENTS. REGENTS will use its best efforts to curtail patent costs when
such a notice is received from LICENSEE. REGENTS may continue prosecution and/or maintenance of such applications or patents at its sole discretion and expense; provided, however, that LICENSEE will have no further right or licenses thereunder.

  

	15.	MARKING 

 LICENSEE agrees to mark LICENSED PRODUCT(S) (or their containers or labels)
made, sold, licensed or otherwise disposed of in the United States under the license granted in this Agreement with the patent numbers of any applicable U.S. patent(s) in accordance with applicable U.S. laws. All LICENSED PRODUCTS shipped to,
manufactured, or sold in other countries will be marked in such manner as to conform with the patent laws and practice of such countries. 
  

	16.	USE OF NAMES AND TRADEMARKS 

 Nothing contained in this Agreement will be construed as
conferring any right to use in advertising, publicity or other promotional activities any name, trademark, trade name, or other designation of either party hereto by the other (including any contraction, abbreviation, or simulation of any of the
foregoing). Unless required by law or consented to in writing by REGENTS, the use by LICENSEE of the name “The Regents of the University of California” or the name of any University of California campus in advertising, publicity or other
promotional activities is expressly prohibited. 
  

	17.	LIMITED WARRANTIES AND LIMITATION OF LIABILITY 

  

	 	17.1	REGENTS warrants to LICENSEE that it has the lawful right to grant this license. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 21 of 34 

	 	17.2	This license and the associated INVENTION are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESSED OR IMPLIED. REGENTS MAKES NO REPRESENTATION OR WARRANTY
THAT THE INVENTION, REGENTS’ PATENT RIGHTS, LICENSED PRODUCT(S), LICENSED SERVICES OR LICENSED METHOD WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT. 

 

	 	17.3	SUBJECT TO LICENSEE’S DUTIES UNDER ARTICLE 19 FOR CLAIMS OF THIRD PARTIES, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY INCIDENTIAL, SPECIAL, INDIRECTOR OR CONSEQUENTIAL DAMAGES RESULTING FROM
EXERCISE OF THIS LICENSE OR THE USE OF THE INVENTION, REGENTS’ PATENT RIGHTS, LICENSED METHOD, OR LICENSED PRODUCT(S). 

  

	 	17.4	Nothing in this Agreement is or will be construed as: 

  

	 	(a)	A warranty or representation by REGENTS as to the validity, enforceability or scope of any REGENTS’ PATENT RIGHTS; or 

  

	 	(b)	A warranty or representation that anything made, used, or SOLD under any license granted in this Agreement is or will be free from infringement of patents of third parties; or 

 

	 	(c)	An obligation to bring or prosecute actions or suits against third parties for patent infringement, except as provided in Article 18; or 

 

	 	(d)	Conferring by implication, estoppel, or otherwise any license or rights under any patents of REGENTS other than REGENTS’ PATENT RIGHTS as defined herein, regardless of whether such patents are dominant or
subordinate to REGENTS’ PATENT RIGHTS; or 

  

	 	(e)	An obligation to furnish any know-how not provided in the patents and patent applications under REGENTS’ PATENT RIGHTS 

  

	18.	PATENT INFRINGEMENT 

  

	 	18.1	 In the event that a party (for the REGENTS, to the extent of actual knowledge of the licensing professional responsible for administration of this
Agreement) learns 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 22 of 34 

	 	
of the substantial infringement of any REGENTS’ PATENT RIGHTS under this Agreement, they will promptly provide the other party with notice and reasonable evidence of such infringement
(“Infringement Notice”). During the period and in a jurisdiction where LICENSEE has exclusive rights under this Agreement, neither party will notify a third party, including the infringer, of the infringement without first obtaining
consent of the other party, which consent will not be unreasonably withheld. If agreed by the parties, both parties will use diligent efforts, in cooperation with each other, to terminate such infringement without litigation. 

 

	 	18.2	If the infringing activity of potential commercial significance has not been abated within [ * ] days following the effective date of the Infringement Notice, LICENSEE may institute suit for patent infringement
against the infringer. REGENTS may voluntarily join such suit at its own expense, but may not thereafter commence suit against the infringer for the acts of infringement that are the subject of LICENSEE’s suit or any judgment rendered in that
suit. LICENSEE may not join REGENTS in a suit initiated by LICENSEE without REGENTS’ prior written consent, If, in a suit initiated by LICENSEE, REGENTS is involuntarily joined other than by LICENSEE, LICENSEE will pay any costs incurred by
REGENTS arising out of such suit, including but not limited to, any legal fees of counsel that REGENTS selects and retains to represent it in the suit. 

If, within [ * ] days following the effective date of the Infringement Notice, the infringing activity of potential commercial
significance has not been abated and if LICENSEE has not brought suit against the infringer, REGENTS may institute suit for patent infringement against the infringer. If REGENTS institutes such suit, LICENSEE may not join such suit without
REGENTS’ consent and may not thereafter commence suit against the infringer for the acts of infringement that are the subject of REGENTS’ suit or any judgment rendered in that suit. 

 

	 	18.3	 Such legal action as is decided upon will be at the expense of the party on account of whom suit is brought and all recoveries recovered thereby will
belong to such party, provided that legal action brought jointly by REGENTS and LICENSEE and participated in by both, will be at the joint expense of the parties and all recoveries will be allocated in the following order: a) to each party
reimbursement in equal amounts of the attorney’s costs, fees, and other related expenses to the extent each 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 23 of 34 

	 	
party paid for such costs, fees, and expenses until all such costs, fees, and expenses are consumed for each party; and b) any remaining amount shared jointly by them in proportion to the share
of expenses paid by each party, but in no event will REGENTS’ share be less than [ * ] of such remaining amount if REGENTS is a party. 

  

	 	18.4	Each party will cooperate with the other in litigation instituted hereunder but at the expense of the party on account of whom suit is brought. Such litigation will be controlled by the party bringing the action, except
that REGENTS may be represented by counsel of its choice in any suit brought by LICENSE. 

  

	 	18.5	Any agreement made by LICENSEE for the purposes of settling litigation or other dispute shall comply with the requirements of Article 4 (Sublicenses) of this Agreement. 

 

	19.	INDEMNIFICATION 

  

	 	19.1	LICENSEE will, and will require its sublicensees, to indemnify, hold harmless, and defend REGENTS, its officers, employees, and agents, sponsor(s) of the research that led to the INVENTION, the inventors of any patents
and patent applications in REGENTS’ PATENT RIGHTS, and their employers (“REGENTS INDEMNITEES”) against any and all claims, suits, losses, damages, costs, fees, and expenses resulting from or arising of exercise of this license or any
sublicense, including without limitation any cause of action relating to product liability. This indemnification will include, but not be limited to, any product liability; provided that LICENSEE and sublicensees shall not be responsible for
any losses caused by breach of this Agreement by REGENTS.” 

  

	 	19.2	LICENSEE, at its sole cost and expense, will insure its activities in connection with any work performed hereunder and will obtain, keep in force, and maintain the following insurance: 

 

	 	(a)	prior to clinical trials, Commercial Form General Liability Insurance (contractual liability included) with limits as follows: 

  

					
	 Each Occurrence
		$	500,000	  
	 Products/Completed Operations Aggregate
		$	0.	  
	 Personal and Advertising Injury
		$	0.	  
	 General Aggregate
		$	1,000,000	  

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 24 of 34 

	 	(b)	upon the earlier of any clinical trials, Commercial Form General Liability Insurance (contractual Liability included) with limits as follows: 

 

					
	 Each Occurrence
		$	5,000,000	  
	 Products/Completed Operations Aggregate
		$	5,000,000	  
	 Personal and Advertising Injury
		$	0.	  
	 General Aggregate
		$	3,000,000	  

  

	 	(c)	upon the earlier of the first commercial sale of a LICENSED PRODUCT, LICENSED SERVICE and LICENSED METHOD, Commercial Form General Liability Insurance (contractual Liability included) with limits as follows:

  

					
	 Each Occurrence
		$	5,000,000	  
	 Products/Completed Operations Aggregate
		$	10,000,000	  
	 Personal and Advertising Injury
		$	5,000,000	  
	 General Aggregate
		$	10,000,000	  

 If the above insurance is written on a claims-made form, it shall continue for three (3) years following
termination or expiration of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the first commercial sale of Licensed Product; and 

 

	 	(d)	worker’s compensation as legally required in the jurisdiction in which LICENSEE is doing business. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 25 of 34 

	 	19.3	The coverage and limits referred to in Subparagraphs 19.2a, 19.2b and 19.2c above will not in any way limit the liability of LICENSEE under this Article. Upon the execution of this Agreement, LICENSEE will furnish
REGENTS with certificates of insurance evidencing compliance with all requirements. Such certificates will: 

  

	 	(a)	provide for [ * ] days’ ([ * ] days for non-payment of premium) advance written notice to REGENTS of any cancellation of insurance coverages; LICENSEE will promptly notify REGENTS of any material
reduction of the insurance coverages below the amounts required hereunder; and 

  

	 	(b)	indicate that REGENTS has been endorsed as an additional insured under the coverage described above in Subparagraph l9.2. 

  

	 	(c)	include a provision that the coverage will be primary and will not participate with, nor will be excess over, any valid and collectable insurance or program of self-insurance maintained by REGENTS. 

 

	 	19.4	REGENTS will promptly notify LICENSEE in writing of any claim or suit brought against REGENTS for which REGENTS intends to invoke the provisions of this Article 19. LICENSEE will keep REGENTS informed of its defense of
any claims pursuant to this Article 19. 

  

	20.	COMPLIANCE WITH LAWS 

 LICENSEE will comply with all applicable international, national,
state, regional, and local laws and regulations in performing its obligations hereunder and in its use, manufacture, SALE or import of the LICENSED PRODUCTS, LICENSED SERVICES, or practice of the LICENSED METHOD. LICENSEE understands that REGENTS is
subject to United States laws and regulations (including the Arms Export Control Act, as amended, and the Export Administration Act of 1979), controlling the export of technical data, computer software, laboratory prototypes and other commodities,
and REGENTS’ obligations under this Agreement are contingent on compliance with such laws and regulations. The transfer of certain technical data and commodities may require a license from the cognizant agency of the United States Government
and/or written assurances by LICENSEE that LICENSEE will not export such technical data and/or commodities to certain foreign countries without prior approval of such agency. REGENTS neither represents that a license will not be required nor that,
if required, it will be issued. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 26 of 34 

	21.	GOVERNMENT APPROVAL OR REGISTRATION 

 If this Agreement or any associated transaction is
required by the law of any nation to be either approved or registered with any governmental agency, LICENSEE will assume all legal obligations to do so. LICENSEE will notify REGENTS if it becomes aware that this Agreement is subject to a United
States or foreign government reporting or approval requirement. LICENSEE will make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs associated with such reporting or approval process. 

 

	22.	ASSIGNMENT 

 Neither this Agreement nor any right or obligation hereunder may be
assigned, delegated or otherwise transferred, in whole or in part, by either party without the prior express written consent of the other; provided, however, that either party may, without written consent of the other, assign this Agreement and its
rights and delegate its obligations hereunder to its successors, or in connection with the transfer or sale of all or substantially all of such party’s assets or business related to this Agreement, or in the event of its merger, consolidation,
change in control or similar transaction. Any permitted assignee shall assume all obligations of its assignor under this Agreement. Any purported assignment in violation of this Section 22 shall be void. The terms and conditions of this
Agreement shall be binding upon and inure to the benefit of the permitted successors and assigns of the parties. The REGENTS may assign to an invention management organization without LICENSEES approval, provided that the organization is managing
the inventions on behalf of the University of California, Berkeley. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 27 of 34 

	23.	NOTICES 

 All notices under this Agreement shall be in writing and may be delivered in
person, or mailed by registered or certified U.S. mail, or sent by nationally-recognized overnight courier. All such notices shall be deemed delivered at the following address. 

 

			
	To REGENTS:		Office of Technology Licensing
			2150 Shattuck Avenue, Suite 510
			Berkeley, CA 94704-1347
			Attn.: Director (UC Case No.: [ * ])
		
	To LICENSEE:		Aduro Biotech
			626 Bancroft Way
			Berkeley, CA 94710-2224
			Attn.: Steven Bodovitz <sbodovitz@adurobiotech.com>

 If received on a day other than a business day, then such notice shall be deemed delivered on the next
business day at the address of receipt. Either party may change its address upon written notice to the other party. 
  

	24.	LATE PAYMENTS 

 If monies owed to REGENTS under this Agreement are not received by
REGENTS when due, LICENSEE will pay to REGENTS interest charges at a rate of ten percent (10%) per annum. Such interest will be calculated from the date payment was due until actually received by REGENTS. Such accrual of interest will be in
addition to, and not in lieu of, enforcement of any other rights of REGENTS related to such late payment. Acceptance of any late payment will not constitute a waiver under Article 25 (Waiver) of this Agreement. 

 

	25.	WAIVER 

 The failure of either party to assert a right hereunder or to insist upon
compliance with any term or condition of this Agreement will not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other party. None of the terms and conditions of this Agreement
can be waived except by the written consent of the party waiving compliance. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 28 of 34 

	26.	CONFIDENTIALITY 

  

	 	26.1	Each party will secure and hold the other party’s proprietary business and technical information, patent prosecution material and other proprietary information, including the negotiated terms of this Agreement, in
confidence and against disclosure to third parties with at least the same degree of care as it exercises to protect its own data and license agreements of a similar nature. This obligation will expire [ * ] years after the termination or
expiration of this Agreement. 

  

	 	26.2	Nothing contained herein will in any way restrict or impair the right of LICENSEE or REGENTS to use, disclose, or otherwise deal with any information or data which: 

 

	 	(a)	at the time of disclosure to a receiving party is generally available to the public or thereafter becomes generally available to the public by publication or otherwise through no act of the receiving party;

  

	 	(b)	the receiving party can show by written record was in its possession prior to the time of disclosure to it hereunder and was not acquired directly or indirectly from the disclosing party; 

 

	 	(c)	is independently made available to the receiving party without restrictions as a matter of right by a third party; or 

  

	 	(d)	is subject to disclosure under the California Public Records Act or other requirements of law. 

  

	 	26.3	 REGENTS will be free to release to the inventors and senior administrators employed by REGENTS the terms and conditions of this Agreement upon their
request. If such release is made, REGENTS will inform such employees of the confidentiality obligations set forth above and will request that they do not disclose such terms and conditions to others. Should a third party inquire whether a license to
REGENTS’ PATENT RIGHTS is available, REGENTS may disclose the existence of this Agreement and the extent of the grant in Articles 3 and 4 to such third party, but will not disclose the name of LICENSEE unless LICENSEE has already made such
disclosure publicly, except where REGENTS is required to release information under either the California Public Records Act or other applicable law, provided REGENTS gives prior written notice to LICENSEE of such disclosure. REGENTS can publicly
identify LICENSEE’s corporate name and contact information as an entity with which REGENTS has an agreement that involves the commercialization of technology developed at the University of

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 29 of 34 

	 	
California, Berkeley; however this exception does not cover other information about this AGREEMENT, including INVENTIONS and INVENTORS, when used in association with LICENSEE’s name

  

	 	26.4	LICENSEE and REGENTS agree to destroy or return to the disclosing party proprietary information received from the other in its possession within [ * ] days following the effective date of termination of this
Agreement. However, each party may retain one copy of proprietary information of the other solely for archival purposes in non-working files for the sole purpose of verifying the ownership of the proprietary information, provided such proprietary
information will be subject to the confidentiality provisions set forth in Article 26.1. LICENSEE and REGENTS agree to provide each other, within [ * ] days following termination of this Agreement, with a written notice that proprietary
information has been returned or destroyed. 

  

	27.	FORCE MAJEURE 

 Except for LICENSEE’s obligation to make any payments to REGENTS
hereunder (assuming that the ability of LICENSEE to recover revenue and make payments is unimpaired by the force majeure), the parties to this Agreement shall be excused from any performance required hereunder if such performance is rendered
impossible or unfeasible due to any catastrophes or other major events beyond their reasonable control, including, without limitation, war, riot, and insurrection; laws, proclamations, edicts, ordinances, or regulations; strikes, lockouts, or other
serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events have abated, the parties’ respective obligations hereunder will resume. 

 

	28.	SEVERABILITY 

 The provisions of this Agreement are severable, and in the event that any
provision of this Agreement will be determined to be invalid or unenforceable under any controlling body of law, such invalidity or enforceability will not in any way affect the validity or enforceability of the remaining provisions hereof. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 30 of 34 

	29.	APPLICABLE LAW AND VENUE 

 THIS AGREEMENT WILL BE CONSTRUED, INTERPRETED, AND APPLIED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, excluding any choice of law rules that would direct the application of the laws of another jurisdiction, but the scope and validity of any patent or patent application under REGENTS’ PATENT
RIGHTS will be determined by the applicable law of the country of such patent or patent application. Any legal action brought by the parties relating to this Agreement will be conducted in San Francisco, California. 

 

	30.	SCOPE OF AGREEMENT 

 This Agreement incorporates the entire agreement between the parties
with respect to the subject matter hereof, and this Agreement may be altered or modified only by written amendment duly executed by the parties hereto. 
  

	31.	HEADINGS 

 Section and subsection headings are inserted for convenience of reference only
and do not form part of this Agreement. 
  

	32.	COUNTERPARTS 

 This Agreement may be executed simultaneously in one or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 [Remainder of this page
intentionally left blank] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 31 of 34 

	33.	ELECTRONIC COPY 

 The parties to this document agree that a copy of the original
signature (including an electronic copy) may be used for any and all purposes for which the original signature may have been used. The parties further waive any right to challenge the admissibility or authenticity of this document in a court of
law based solely on the absence of an original signature. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate originals
by their duly authorized officers or representatives. 
  

									
	THE REGENTS OF THE				ADURO BIOTECH
	UNIVERSITY OF CALIFORNIA				
					
	By		 /s/ Irvin J. Mettler
				By		 /s/ Stephen Isaacs

			Irvin J. Mettler, Ph.D.						
			Associate Director				Printed Name		 Stephen Isaacs

			Office of Technology Licensing						
							Title		 CEO

					
	Date		 March 15, 2012
				Date		 March 15, 2012

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

Page 32 of 34EX-10.23

 Exhibit 10.23 

ASSET PURCHASE AGREEMENT 

This Asset Purchase Agreement (this “Agreement”) is made effective as of January 31, 2013 (the
“Effective Date”) by and between BioSante Pharmaceuticals, Inc. a Delaware corporation with a principal place of business at 111 Barclay Boulevard, Suite 400, Lincolnshire, Illinois 60069 (“Seller”),
and Aduro GVAX Inc., a Delaware corporation with a principal place of business at 626 Bancroft Way, #3C, Berkeley, CA 94710-2224 (“Buyer”). Seller and Buyer are each hereafter referred to individually as a
“Party” and together as the “Parties”. 
 WHEREAS, Seller desires to sell, and Buyer desires
to purchase, the Purchased Assets (as defined below) in accordance with the terms and conditions set forth in this Agreement. 
 NOW,
THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows: 

1. DEFINITIONS 
 Whenever
used in the Agreement with an initial capital letter, the terms defined in this Article 1 shall have the meanings specified. 
 1.1
“Affiliate” shall mean any corporation, firm, limited liability company, partnership or other entity that directly controls or is controlled by a Party to this Agreement. For purposes of this Section 1.1,
“control” means ownership, directly or indirectly through one or more Affiliates, of fifty percent (50%) or more of the shares of stock entitled to vote for the election of directors, in the case of a corporation, or fifty percent
(50%) or more of the equity interests in the case of any other type of legal entity, status as a general partner in any partnership, or any other arrangement whereby a Party controls or has the right to control the Board of Directors or
equivalent governing body of a corporation or other entity. 
 1.2 “Applicable Law” shall mean, with respect to any
Person, each and any of the following to the extent applicable to such Person: federal, state, local, municipal, foreign, international, multinational or other constitution, law, ordinance, principle of common law, code, rule, regulation, statute or
treaty, in each of the foregoing cases, as amended or may be amended. 
 1.3 “Assignment and Assumption Agreement”
shall have the meaning set forth in Section 3.2.3. 
 1.4 “Assignment of Contracts” shall have the meaning set
forth in Section 3.2.3. 
 1.5 “Assumed Liabilities” shall have the meaning set forth in Section 2.3. 

1.6 “Bill of Sale” shall have the meaning set forth in Section 3.2.2. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-1- 

 1.7 “BLA” shall mean a biologics license application (as defined in Title
21 of the United States Code of Federal Regulations, as amended from time to time) filed with the FDA seeking Regulatory Approval to market and sell any GVAX Product in the United States. 

1.8 “Books and Records” shall mean all Regulatory Documentation, Technology, books, files, papers, agreements,
correspondence, databases, information systems, programs, software, documents and records (regardless of medium, whether in physical or electronic format and stored in computer memory or other storage device) related to the Purchased Assets or the
Assumed Liabilities. 
 1.9 “Buyer Indemnitees” shall have the meaning set forth in Section 10.1.2. 

1.10 “Closing” shall have the meaning set forth in Section 3.2.1. 

1.11 “Closing Date” shall have the meaning set forth in Section 3.2.1. 

1.12 “Closing Payment” shall have the meaning set forth in Section 4.1.1. 

1.13 “Confidential Information” shall mean with respect to a Party (the “Receiving Party”),
all information which is disclosed by the other Party (the “Disclosing Party”) to the Receiving Party hereunder or to any of its employees, consultants, Affiliates, licensees or sublicensees, except to the extent that the
Receiving Party can demonstrate by written record or other suitable physical evidence that such information, (a) as of the date of disclosure is demonstrably known to the Receiving Party or its Affiliates other than by virtue of a prior
confidential disclosure to such Party or its Affiliates; (b) as of the date of disclosure is in, or subsequently enters, the public domain, through no fault or omission of the Receiving Party; (c) is obtained from a Third Party having a
lawful right to make such disclosure free from any obligation of confidentiality to the Disclosing Party; or (d) is independently developed by or for the Receiving Party without reference to or reliance upon any Confidential Information of the
Disclosing Party; provided, however, that with respect to the Purchased Assets, Seller shall be deemed to be the Receiving Party as of the Closing and shall not be entitled to the benefit of (a) or (d) above with respect thereto. 

1.14 “Copyright Assignment” shall have the meaning set forth in Section 3.2.2. 

1.15 “Development” and “Develop” shall mean, with respect to any GVAX Product, all activities
with respect to such GVAX Product relating to research and development in connection with seeking, obtaining and/or maintaining any Regulatory Approval for such GVAX Product in the Territory, including without limitation, all pre-clinical research
and development activities, all human clinical studies, all activities relating to developing the ability to manufacture any GVAX Product or any component thereof (including, without limitation, process development work), and all other activities
relating to seeking, obtaining and/or maintaining any Regulatory Approvals from the FDA and/or any Foreign Regulatory Authority. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-2- 

 1.16 “Domain Name Assignment” shall have the meaning set forth in Section
3.2.2. 
 1.17 “Drug Approval Application” shall mean any application for Regulatory Approval (including pricing and
reimbursement approvals) required prior to any commercial sale or use of a GVAX Product in any country or jurisdiction in the Territory, including, without limitation, (a) any BLA, NDA or MAA filed with the FDA or any Foreign Regulatory
Authority, and (b) any equivalent application filed with any Foreign Regulatory Authority for Regulatory Approval (including pricing and reimbursement approvals) required prior to any commercial sale or use of a GVAX Product in any country or
jurisdiction in the Territory. 
 1.18 “Encumbrance” shall mean any charge, claim, community or other marital
property interest, condition, equitable interest, lien, option, pledge, security interest, mortgage, right of way, easement, encroachment, servitude, right of first option, right of first refusal or similar restriction, including any restriction on
use, voting (in the case of any security or equity interest), transfer, receipt of income or exercise of any other attribute of ownership. 

1.19 “Excluded Assets” shall have the meaning set forth in Section 2.2. 

1.20 “Excluded Liabilities” shall have the meaning set forth in Section 2.4. 

1.21 “First Commercial Sale” shall mean, on a country-by-country basis, the date of the first arm’s length
transaction, transfer or disposition for value to a Third Party of a GVAX Product by or on behalf of Buyer or any Affiliate of Buyer in such country as part of a country-wide commercialization effort. 

1.22 “FDA” shall mean the United States Food and Drug Administration and any successor agency or authority thereto.

 1.23 “Foreign Regulatory Authority” shall mean any applicable supranational, national, federal, state or local
regulatory agency, department, bureau or other governmental entity of any country or jurisdiction in the Territory (other than the FDA in the United States), having responsibility in such country or jurisdiction for any Regulatory Approvals of any
kind in such country or jurisdiction, and any successor agency or authority thereto. 
 1.24 “GVAX” shall mean a
composition comprising autologous or allogeneic tumor cells that have been genetically modified to express GM-CSF and are rendered proliferation incompetent by irradiation, or autologous or allogeneic tumor cells admixed, administered or
co-administered with a bystander cell line that expresses GM-CSF and rendered proliferation incompetent by irradiation. 
 1.25
“GVAX-Other Field” shall mean any therapy relating to the treatment of cancer in humans, outside of the GVAX-Pancreas Field and the GVAX-Prostate Field, utilizing the Purchased
Technology. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-3- 

 1.26 “GVAX-Other Product” shall mean (a) any product or service of
Buyer or its Affiliates or Sublicensees, the manufacture, use, sale or performance of which infringes any Valid Claim included in the Purchased Patent Rights (excluding the GVAX-Pancreas Patent Rights and the GVAX-Prostate Patent Rights) in the
GVAX-Other Field, (b) any product or service developed in whole or in part through the use of a process that is covered by a Valid Claim included in the Purchased Patent Rights (excluding the GVAX-Pancreas Patent Rights and the GVAX-Prostate
Patent Rights) in the GVAX-Other Field, or (c) any product in the GVAX-Other Field not covered by (a) or (b) but that is developed and/or manufactured as a result of the use of the Purchased Technology. 

1.27 “GVAX-Pancreas Field” shall mean a combination therapy relating to the treatment of pancreas cancer in humans
utilizing both the Purchased Technology and one or more of any listeria vaccines in any formulation existing now or in the future or any Other Vaccines. 

1.28 “GVAX-Pancreas Patent Rights” shall mean the Purchased Patent Rights relating to the GVAX-Pancreas cancer
vaccines listed on Schedule A. 
 1.29 “GVAX-Pancreas Product” shall mean (a) any product or service of
Buyer or its Affiliates or Sublicensees, the manufacture, use, sale or performance of which infringes any Valid Claim included in the GVAX-Pancreas Patent Rights in the GVAX-Pancreas Field, (b) any product or service developed in whole or in
part through the use of a process that is covered by a Valid Claim included in the GVAX-Pancreas Patent Rights in the GVAX-Pancreas Field, or (c) any product in the GVAX-Pancreas Field not covered by (a) or (b) but that is developed
and/or manufactured as a result of the use of the Purchased Technology. 
 1.30 “GVAX-Prostate Field” shall mean a
combination therapy relating to the treatment of prostate cancer in humans utilizing both the Purchased Technology and one or more of any listeria vaccines in any formulation existing now or in the future or any Other Vaccines. 

1.31 “GVAX-Prostate Patent Rights” shall mean the Purchased Patent Rights relating to the GVAX-Prostate cancer
vaccines listed on Schedule A. 
 1.32 “GVAX-Prostate Product” shall mean (a) any product or service of
Buyer or its Affiliates or Sublicensees, the manufacture, use, sale or performance of which infringes any Valid Claim included in the GVAX-Prostate Patent Rights in the GVAX-Prostate Field, (b) any product or service developed in whole or in
part through the use of a process that is covered by a Valid Claim included in the GVAX-Prostate Patent Rights in the GVAX-Prostate Field, or (c) any product in the GVAX-Prostate Field not covered by (a) or (b) but that is developed
and/or manufactured as a result of the use of the Purchased Technology. 
 1.33 “GVAX Product” shall mean any
GVAX-Other Product, any GVAX-Pancreas Product, or any GVAX-Prostate Product. 
 1.34 “Governmental Entity” shall
mean any court, arbitrational tribunal, administrative agency or commission or other governmental, quasi-governmental or regulatory authority, agency or instrumentality, including without limitation, the FDA and Foreign Regulatory Authorities. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-4- 

 1.35 “Hussman Agreement” shall mean the Letter Agreement by and between
Seller and The John P. Hussman Foundation dated as of July 13, 2011 and attached Operating Terms and appendices. 
 1.36
“IND” shall mean an investigational new drug application (as defined in Title 21 of the United States Code of Federal Regulations, as amended from time to time) filed or to be filed with the FDA with regard to any GVAX
Product. 
 1.37 “Indemnifying Party” shall have the meaning set forth in Section 10.2. 

1.38 “JHU” shall mean The Johns Hopkins University, a Maryland corporation. 

1.39 “JHU License Agreements” shall mean that certain Restated and Amended License Agreement between JHU and Seller
dated as of March 3, 2011, which amends and restates in the entirety that certain License Agreement between JHU and Cell Genesys, Inc. (“Cell Genesys”) dated as of June 15, 2000, as amended by a First Amendment to the
License Agreement dated as of March 27, 2008, that certain License Agreement between JHU and Cell Genesys, Inc., dated March 12, 2001, as amended by a First Amendment to the License Agreement dated as of March 27, 2008, and that
certain License Agreement between JHU and Cell Genesys, Inc., dated October 1, 1999, as amended by a First Amendment to the License Agreement dated as of August 30, 2003. 

1.40 “Liability” shall mean any liability or obligation of any kind, character or description, whether known or
unknown, absolute or contingent, matured or unmatured, disputed or undisputed, secured or unsecured, conditional or unconditional, accrued or unaccrued, liquidated or unliquidated, vested or unvested, joint or several, due or to become due,
executory, determined, determinable or otherwise, and whether or not the same is required to be accrued on financial statements. 
 1.41
“MAA” shall mean an application filed with the relevant Foreign Regulatory Authorities in Europe seeking Regulatory Approval to market and sell any GVAX Product in Europe or any country or territory therein. 

1.42 “MIT License Agreement” shall mean that certain Amended and Restated Exclusive Patent License Agreement between
The Massachusetts Institute for Technology, The Whitehead Institute for Research and Cell Genesys, Inc. dated as of December 17, 1998, as amended by a First Amendment to the Amended and Restated Exclusive Patent License Agreement dated as of
September 27, 2005, and as amended by a Second Amendment to the Amended and Restated Exclusive Patent License Agreement, dated as of May 26, 2011. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-5- 

 1.43 “NDA” shall mean a new drug application (as defined in Title 21 of
the United States Code of Federal Regulations, as amended from time to time) filed with the FDA seeking Regulatory Approval to market and sell any GVAX Product in the United States. 

1.44 “Net Sales” shall mean the gross amounts actually received by Buyer or its Affiliates for all GVAX Products sold
by Buyer or its Affiliates or Sublicensees to Third Parties throughout the Territory, less any deductions allowed under U.S. G.A.A.P. to the extent not already taken, including, without limitation, the following amounts incurred or paid by Buyer or
its Affiliates or Sublicensees with respect to sales of GVAX Products: 
 (a) trade, cash and quantity discounts or rebates actually
allowed or taken, including discounts or rebates to governmental or managed care organizations; 
 (b) reimbursements, credits or
allowances actually given or made for rejection or return of previously sold GVAX Products (including Medicare and similar types of rebates); 

(c) any charges for insurance, freight, and other transportation costs directly related to the delivery of GVAX Products; 

(d) any tax, tariff, duty or governmental charge levied on the sales, transfer, transportation or delivery of a GVAX Product (including any
tax such as a value added or similar tax or government charge) borne by the seller thereof, other than franchise or income tax of any kind whatsoever; 

(e) any import or export duties or their equivalent borne by the seller; 

(f) any amounts received in connection with conducting clinical trials; 

(g) sales to government organizations, charitable non-governmental organizations, indigent programs and sales of GVAX Products at a loss or
for materially reduced profit margins; and 
 (h) the aggregate amount of all royalty payments made by Buyer to one or more Third Parties
in any country in the Territory as consideration for a license to an issued patent or patents with respect to the GVAX component of a GVAX Product, in the absence of which the GVAX Product could not legally be used or sold in such country. 

“Net Sales” shall not include sales or transfers between Buyer and its Affiliates or Sublicensees, unless the GVAX Product is
consumed by the Affiliate or Sublicensee. 
 1.45 “Other Vaccines” shall mean one or more Buyer bacterial vaccines
(other than listeria vaccines) that Buyer elects to include within the scope of the combination therapies contemplated by this Agreement. 

1.46 “Patent Assignment” shall have the meaning set forth in Section 3.2.2. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-6- 

 1.47 “Patent Rights” shall mean the rights and interests in and to issued
patents and pending patent applications (including inventor’s certificates and utility models) in any country or jurisdiction within the Territory, including all provisionals, substitutions, continuations, continuations-in-part, divisionals,
supplementary protection certificates, renewals, all letters patent granted thereon, and all reissues, reexaminations, extensions, confirmations, revalidations, registrations, patents of addition thereof, PCTs and foreign counterparts. 

1.48 “Person” shall mean any individual, corporation, general or limited partnership, limited liability company, joint
venture, estate, trust, association, organization, labor union, or other entity or Governmental Entity. 
 1.49 “Purchased
Price” shall have the meaning set forth in Section 3.1. 
 1.50 “Purchased Assets” shall have the
meaning set forth in Section 2.1. 
 1.51 “Purchased Patent Rights” shall mean all Patent Rights which are included
in the Purchased Assets. 
 1.52 “Purchased Technology” shall mean and include all Technology which is included in
the Purchased Assets. 
 1.53 “RCT Non-Exclusive License Agreement” shall mean that certain Non-exclusive License
Agreement between Research Corporation Technologies, Inc. and Cell Genesys, Inc., dated July 1, 1999. 
 1.54 “Regulatory
Approval” shall mean any and all filings and approvals (including pricing and reimbursement approvals only in those jurisdictions requiring reimbursement approval required before marketing can commence), product and establishment
licenses, registrations or authorizations of any kind of the FDA or any Foreign Regulatory Authority necessary for the development, pre-clinical and/or human clinical testing, manufacture, quality testing, supply, use, storage, importation, export,
transport, marketing and sale of a GVAX Product (or any component thereof) in any country or other jurisdiction in the Territory. “Regulatory Approval” shall include, without limitation, any INDs and drug master files. 

1.55 “Regulatory Documentation” shall mean all applications, registrations, licenses, authorization and approvals
(including all Regulatory Approvals), all correspondence submitted to or received from the FDA or any Foreign Regulatory Authority (including minutes and official contact reports relating to any communications with the FDA or any Foreign Regulatory
Authority) and all supporting documents and data contained in any of the foregoing (including any INDs or foreign equivalents, any manufacturing facility validation and/or licensure, any Drug Approval Applications, orphan drug applications, and any
other documents related to Regulatory Approvals) that was provided to Seller by Cell Genesys upon the acquisition of Cell Genesys by Seller, or is in Seller’s possession or control, that is related to GVAX, including, without limitation,
vaccines or products related to or necessary or useful in connection with GVAX Products. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-7- 

 1.56 “Royalty Payments” shall mean the royalty payments payable by Buyer
to Seller in accordance with Sections 4.1.2 through 4.1.6. 
 1.57 “Royalty Term” shall mean, with respect to each
GVAX Product, the period commencing on the Closing Date and continuing on a country-by-country, and product-by-product basis until the later of either (a) the expiration date of the last to expire of the Purchased Patent Rights covering the
GVAX Product or any other applicable governmental or regulatory exclusivity period, including orphan drug exclusivity following approval (in either case, the “Regulatory End Date”), or (b) the seventh (7th) anniversary of the First Commercial Sale of such GVAX Product in that country; provided, however, that (i) if Net Sales in such country for any twelve-month period ending on the same
month and day as the Regulatory End Date (a “Measurement Year”) but following the Regulatory End Date are less than 80% of the Net Sales in such country for the Measurement Year with the highest Net Sales during the Royalty
Term, then the Royalty Term for such country shall expire as of the last day of the most recently completed Measurement Year; and (ii) if Net Sales in such country for any Measurement Year are less than 90% of the Net Sales in such country for
the immediately preceding Measurement Year then the Royalty Term for such country shall expire as of the last day of the most recently completed Measurement Year. 

1.58 “Seller Designee” shall have the meaning set forth in Section 6.2. 

1.59 “Seller Indemnitees” shall have the meaning set forth in Section 10.1.1. 

1.60 “Sublicensee” shall mean any Third Party to whom Buyer grants a license or sublicense of some or all of the
rights granted to Buyer under this Agreement, but excluding the John P. Hussman Foundation under the Hussman Agreement. 
 1.61
“Sublicense Income” shall mean all payments received by Buyer or its Affiliates from its Sublicensees for the grant by Buyer of a sublicense of the (a) GVAX-Pancreas Patent Rights and Purchased Technology to develop,
have developed, make, have made, use have used sell, offer for sale, have sold import, have imported, export, have exported, commercialize or have commercialized a GVAX-Pancreas Product, or (b) the GVAX-Prostate Patent Rights and Purchased
Technology to develop, have developed, make, have made, use have used sell, offer for sale, have sold import, have imported, export, have exported, commercialize or have commercialized a GVAX-Prostate Product; it being understood that Sublicense
Income shall specifically not include any other amounts received by Buyer from its Sublicensees, including, without limitation, (i) payments made by or on behalf of a Sublicensee which constitute grants or are required to be used to support or
fund research, development or commercialization activities to be undertaken by Buyer, (ii) payments made by or on behalf of a Sublicensee which may be required to be repaid by Buyer (such as loans or advances that are subject to reimbursement,
including convertible debt), (iii) payments made to JHU under the JHU Agreements, (iv) royalty payments, (v) purchases or grants of equity of Buyer, (vi) purchase of debt, and (vii) patent costs. 

1.62 “Technology” shall mean and include any and all unpatented, proprietary ideas, inventions, discoveries,
Confidential Information, biologic materials, cell lines, CMC data, 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-8- 

 
drug master files, data, results, formulae, designs, specifications, methods, processes, formulations, techniques, ideas, know-how, technical information (including, without limitation,
structural and functional information), manufacturing processes and descriptions, process information, pre-clinical information, clinical information, and any and all proprietary biological, chemical, pharmacological, toxicological, pre-clinical,
clinical, assay, control and manufacturing data and materials that was provided to Seller by Cell Genesys upon the acquisition of Cell Genesys by Seller, or is in Seller’s possession or control, that is related to GVAX, including, without
limitation, vaccines or products related to or necessary or useful in connection with GVAX Products. 
 1.63
“Territory” shall mean all countries and jurisdictions of the world. 
 1.64 “Third Party”
shall mean any Person other than Buyer, Seller and their respective Affiliates. 
 1.65 “Trademark Assignment” shall
have the meaning set forth in Section 3.2.2. 
 1.66 “Transaction Documents” shall have the meaning set forth in
Section 7.1(a). 
 1.67 “Transferred Contracts” shall mean any written, oral, implied or other agreement, contract,
understanding, arrangement, instrument, warranty, assignment, power of attorney, certificate, purchase order, work order, commitment, covenant, assurance or undertaking of any nature listed on Schedule A. 

1.68 “UC License Agreements” shall mean that certain Exclusive License Agreement between The Regents of the University
of California and Cell Genesys, Inc., dated March 1, 2007 and that certain Non-exclusive License and Bailment Agreement between The Regents of the University of California and Cell Genesys, Inc., dated March 1, 2007. 

1.69 “Valid Claim” shall mean a claim in an issued, unexpired patent or in a pending patent application within the
Purchased Patent Rights that (a) has not been finally cancelled, withdrawn, abandoned or rejected by any administrative agency or other body of competent jurisdiction, (b) has not been revoked, held invalid, or declared unpatentable or
unenforceable in a decision of a court or other body of competent jurisdiction that is unappealable or unappealed within the time allowed for appeal, (c) has not been rendered unenforceable through disclaimer or otherwise, and (d) is not
lost through an interference proceeding. 
 2. SALE AND PURCHASE OF ASSETS 

2.1 Sale and Purchase of Assets. 

2.1.1 Subject to the terms and conditions of this Agreement, and except for the Excluded Assets, at the Closing, Seller shall sell, transfer,
convey, assign and deliver to 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-9- 

 
Buyer, and Buyer shall purchase and accept from Seller, free and clear from any Encumbrances, all right, title and interest of Seller in and to all of the assets of Seller related to or
comprising GVAX vaccines and any assets necessary or reasonably useful to make, have made, use, have used, sell, offer for sale, have sold, import, have imported, develop, have developed, commercialize, and have commercialized GVAX Products
including, without limitation, (i) all patents, patent applications and other Patent Rights, and all other intellectual property, Technology, Regulatory Approvals, Regulatory Documentation, the JHU License Agreements, the Hussman Agreement, the
UC License Agreements, and the MIT License Agreement; (ii) all finished product inventories, work-in-process, inventories, product-in-transit inventories and other
inventories of GVAX vaccines; (iii) all laboratory supplies, cell lines, reagents and related research materials owned by Seller as of the Closing Date that are used in connection with or related to GVAX vaccines; and (iv) all assets
listed on Schedule A attached hereto (the “Purchased Assets”). 
 2.2 Excluded Assets. 

2.2.1 Notwithstanding anything to the contrary in this Agreement, Seller shall not sell, transfer or assign, and Buyer shall not purchase or
otherwise acquire, any right, title or interest of Seller in any of Seller’s other assets, including, without limitation, the assets listed on Schedule B attached hereto (collectively, the “Excluded Assets”). 

2.3 Assumption of Liabilities. 

2.3.1 At the Closing, Buyer shall assume as of the Closing only the Liabilities of Seller specifically identified below in this
Section 2.3.1 (the “Assumed Liabilities”), unless otherwise specifically excluded under Section 2.4.1: 
 (a)
the Liabilities and obligations of Seller under the Transferred Contracts, but only to the extent such obligations: (i) are to be performed after the Closing; (ii) do not arise from or relate to any breach or default by Seller or any of
its Affiliates of any provision of any of the Transferred Contracts or any event, circumstance or condition occurring or existing on or prior to the Closing that, with notice or lapse of time, would constitute or result in a breach or default
thereof and (iii) do not arise from actions taken (or omitted from being taken) by Seller or any of its Affiliates on or prior to the Closing (or except to the extent that Buyer expressly agrees to assume from or reimburse Seller for such
Liabilities prior to the Closing Date); 
 (b) Liabilities related to Regulatory Approvals, Regulatory Documentation and other regulatory
matters pertaining to the Purchased Assets, including, without limitation, those regulatory obligations owed to the FDA, and any corresponding Foreign Regulatory Authorities, to the extent arising after the Closing Date; 

(c) Liabilities related to preparing, filing, prosecuting, obtaining and maintaining all Purchased Patent Rights pertaining to the Purchased
Assets after the Closing Date, which filing, prosecution and maintenance shall be in the sole discretion of Buyer; and 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-10- 

 (d) Liabilities arising out of or directly relating to ownership or use of the Purchased Assets
after the Closing Date. 
 2.4 Excluded Liabilities. 

2.4.1 Buyer shall not assume, nor shall Buyer become responsible for, any Liabilities of Seller or Seller’s Affiliates other than the
Assumed Liabilities, which excluded Liabilities include, without limitation, any Liabilities of Seller arising out of or relating to the ownership or use of the Purchased Assets prior to the Closing Date, known or unknown, contingent or mature, or
any Liabilities that do not arise out of or relate to the Purchased Assets (collectively, the “Excluded Liabilities”). 

3. PURCHASE PRICE AND CLOSING 

3.1 Purchase Price. 

3.1.1 Price. Upon and subject to the terms and conditions set forth in this Agreement, Buyer will pay to Seller, by wire transfer of
immediately available funds: (a) the Closing Payment on the Closing Date; (b) the Royalty Payments, if any, in accordance with Sections 4.1.2 through 4.1.6; and (c) the Sublicense Income, if any, in accordance with Section 4.2.2.
The Closing Payment, the Royalty Payments and the Sublicense Income, if any, are collectively referred to as the “Purchase Price.” 

3.1.2 Taxes. All sales, use, excise, personal property or other such taxes and fees (including any penalties and interest) incurred in
connection with this Agreement shall be borne and paid by Seller when due. Each Party shall, at its own expense, timely file any tax return or other document with respect to such taxes or fees that are its responsibility (and the other Party shall
cooperate with respect thereto as necessary). In addition, each Party shall be responsible for paying their own income taxes and be responsible for filing their own income tax returns in connection with this Agreement. 

3.1.3 Bulk Sales. The Parties hereby waive compliance with the provisions of any bulk sales, bulk transfer or similar laws of any
jurisdiction that may otherwise be applicable with respect to the sale of any or all of the Purchased Assets to Buyer; it being understood that any Liabilities arising out of the failure of Seller to comply with the requirements and provisions of
any bulk sales, bulk transfer or similar laws of any jurisdiction are Excluded Liabilities. 
 3.1.4 Exclusive License Agreement. As
of the Closing, the Exclusive License Agreement by and between Seller as “Licensor” and Aduro BioTech, Inc., a Delaware corporation as “Licensee” dated March 24, 2011 shall automatically terminate and shall be of no further
force or effect. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 3.2 Closing. 

3.2.1 Closing Date. The closing of the purchase and sale contemplated by this Agreement (the “Closing”) shall
be consummated on or before February 15, 2013, at the offices of Sheppard, Mullin, Richter & Hampton, LLP, 30 Rockefeller Plaza, New York, NY 10112, or at such other place or date as shall be agreed upon by Buyer and Seller. Buyer and
Seller shall each endeavor to consummate the Closing by January 31, 2013. The time and date on which the Closing is actually held is referred to herein as the “Closing Date.” 

3.2.2 Sellers’ Closing Deliveries. At the Closing, Seller shall (i) take all steps necessary to place Buyer in actual
possession and control of the Purchased Assets, and (ii) deliver the following items, duly executed by Seller, as applicable, all of which shall be in form and substance attached as an exhibit to this Agreement or otherwise mutually agreed upon
by Buyer and Seller: 
 (a) A Bill of Sale, substantially in the form of Exhibit A hereto (the “Bill of
Sale”); 
 (b) A trademark assignment, substantially in the form of Exhibit B hereto (the “Trademark
Assignment”); 
 (c) A patent assignment, substantially in the form of Exhibit C hereto (the “Patent
Assignment”); 
 (d) A domain name assignment, substantially in the form of Exhibit D attached hereto (the
“Domain Name Assignment”); 
 (e) A copyright assignment, substantially in the form of Exhibit E hereto (the
“Copyright Assignment”); 
 (f) Duly executed consent of all Third Parties required by Seller to consummate the
transactions contemplated hereby, in form and substance reasonably satisfactory to Buyer, including consents to the assignment of the Transferred Contracts; 

(g) Payoff and release letters from creditors of Seller, together with UCC termination or amendments, as applicable, with respect to
financing statements filed against any of the Purchased Assets, terminating all Encumbrances on any of the Purchased Assets, in form and substance reasonably satisfactory to Buyer; 

(h) Resolutions of Seller’s board of directors authorizing the execution, delivery and performance of this Agreement and of all other
documents to be executed and delivered in connection herewith; 
 (i) A certificate executed on behalf of Seller by its President or Chief
Executive Officer, dated as of the Closing Date, certifying that: (i) the representations and warranties of Seller set forth in this Agreement, or in any written statement or certificate that shall be delivered to Buyer by Seller under this
Agreement are true and correct on and as of the date made and as of the Closing Date as if made on the date thereof; and (ii) Seller has 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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performed all obligations and covenants required to be performed by it under this Agreement and any other agreement or document entered into in connection herewith prior to the Closing Date; and

 (j) The Books and Records. 

3.2.3 Buyer’s and Seller’s Closing Deliveries. At the Closing, Buyer and Seller shall deliver the following items, duly
executed: 
 (a) An Assignment and Assumption Agreement, substantially in the form of Exhibit F hereto (the “Assignment
and Assumption Agreement”); 
 (b) An Assignment of Contracts, substantially in the form of Exhibit G hereto (the
“Assignment of Contracts”); 
 (c) A certificate executed on behalf of Buyer by its President or Chief Executive
Officer, dated as of the Closing Date, certifying that: (i) the representations and warranties of Buyer set forth in this Agreement, or in any written statement or certificate that shall be delivered to Seller by Buyer under this Agreement are
true and correct on and as of the date made and as of the Closing Date as if made on the date thereof; and (ii) Buyer has performed all obligations and covenants required to be performed by it under this Agreement and any other agreement or
document entered into in connection herewith prior to the Closing Date; and 
 (d) Such other certificates, instruments or documents
required pursuant to the provisions of this Agreement or otherwise necessary or appropriate to transfer the Purchased Assets and Assumed Liabilities in accordance with the terms hereof and consummate the transaction contemplated hereby, and to vest
in Buyer full and complete title to the Purchased Assets, free and clear of all Encumbrances. 
 3.2.4 Pre-Closing Actions. From the
Effective Date until the Closing Date, Seller shall not take any action with respect to the Purchased Assets except in the ordinary course of business, and shall use commercially reasonable efforts to preserve intact the Purchased Assets. Seller
shall promptly notify Buyer of any event or occurrence not in the ordinary course of business of Seller that it proposes to take with respect to the Purchased Assets, each of which shall require the prior written consent of Buyer, and shall promptly
notify Buyer of any event of which Seller is aware which reasonably could be expected to have an adverse effect on Seller or the Purchased Assets. 

4. PAYMENTS AND ROYALTIES 

4.1 Payments for Purchased Assets. 

4.1.1 Closing Payment. Buyer shall pay to Seller One Million Dollars ($1,000,000) at the Closing (the “Closing
Payment”). 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 4.1.2 GVAX-Pancreas Product Royalty Payments. In further consideration of the Purchased
Assets, and subject to the other terms of this Agreement (including the remainder of this Section 4), (a) commencing on the date of the First Commercial Sale of each GVAX-Pancreas Product sold by Buyer and/or its Affiliates in each country
in the Territory and continuing for the duration of the Royalty Term in such country, Buyer shall pay to Seller a royalty equal to [ * ] of Net Sales of any GVAX-Pancreas Product sold by Buyer and/or its Affiliates in such country in the
Territory; and (b) Buyer shall pay to Seller a one time milestone payment of [ * ] upon reaching [ * ]. Notwithstanding anything to the contrary in this Section 4.1.2, in no event shall the cumulative, aggregate payments made
to Seller by Buyer pursuant to this Section 4.1.2 during the Royalty Term exceed the amount of [ * ]. 
 4.1.3 GVAX-Prostate
Product Royalty Payments. In further consideration of the Purchased Assets, and subject to the other terms of this Agreement (including the remainder of this Section 4), (a) commencing on the date of the First Commercial Sale of each
GVAX-Prostate Product sold by Buyer and/or its Affiliates in each country in the Territory and continuing for the duration of the Royalty Term in such country, Buyer shall pay to Seller a royalty equal to [ * ] of Net Sales of any
GVAX-Prostate Product sold by Buyer and/or its Affiliates in such country in the Territory; and (b) Buyer shall pay to Seller a one time milestone payment of [ * ] upon [ * ]. Notwithstanding anything to the contrary in this
Section 4.1.3, in no event shall the cumulative, aggregate payments made to Seller by Buyer pursuant to this Section 4.1.3 during the Royalty Term exceed the amount of [ * ]. 

4.1.4 GVAX-Other Product Royalty Payments. In further consideration of the Purchased Assets, and subject to the other terms of this
Agreement (including the remainder of this Section 4), (a) commencing on the date of the First Commercial Sale of each GVAX-Other Product sold by Buyer and/or its Affiliates in each country in the Territory and continuing for the duration
of the Royalty Term in such country, Buyer shall pay to Seller a royalty equal to [ * ] of Net Sales of any GVAX-Other Product sold by Buyer and/or its Affiliates in such country in the Territory; and (b) Buyer shall pay to Seller a one
time milestone payment in the following amounts upon reaching the corresponding milestones for each GVAX-Other Product reaching such milestone, as follows: 

(a) [ * ] upon [ * ]; 

(b) [ * ] upon [ * ]; 

(c) [ * ] upon [ * ]; and 

(d) [ * ] upon [ * ]. 

4.1.5 Notwithstanding anything to the contrary in this Section 4.1, in no event shall the cumulative, aggregate payments made to Seller
by Buyer pursuant to this Section 4.1 during the Royalty Term exceed the amount of [ * ], excluding the Closing Payment and milestone payments set forth in clauses (a) – (d) of Section 4.1.4. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 4.1.6 One Royalty. Only one royalty, calculated at the highest applicable royalty rate
under this Section 4.1, shall be payable to Seller hereunder for each sale of a GVAX Product. 
 4.2 Other Consideration.

 4.2.1 Hussman Agreement. In further consideration for the Purchased Assets, Buyer will pay to Seller [ * ] of all amounts
received by Buyer or any Affiliate of Buyer from milestones and royalties under the Hussman Agreement, net of related costs borne by Buyer. 

4.2.2 Sublicensing Income. 

(a) Sublicense Income – Pancreas Products. Buyer shall pay Seller the percentage of Sublicense Income received by Buyer or
any Affiliate of Buyer pursuant to any sublicenses of GVAX-Pancreas Patent Rights and/or related Technology granted hereunder as set forth below: (i) [ * ] of applicable Sublicense Income with respect to sublicenses entered into [ *
]; and (ii) [ * ] of applicable Sublicense Income with respect to sublicenses entered into [ * ]. Notwithstanding anything to the contrary set forth in the preceding sentence, in the case of any sublicense entered into after
Buyer has spent at least [ * ] in the aggregate for all expenses of any kind incurred in connection with the development, testing and commercialization of all GVAX Products, each percentage specified in the preceding sentence shall be reduced
to [ * ], Notwithstanding anything to the contrary in this Section 4.2.2(a), in no event shall the cumulative, aggregate payments made to Buyer by Seller pursuant to this Section 4.2.2(a) exceed the amount of [ * ]. 

(b) Sublicense Income – Prostate Products. Buyer shall pay Seller the percentage of Sublicense Income received by Buyer or
any Affiliate of Buyer pursuant to any sublicenses of GVAX-Prostate Patent Rights and/or related Technology granted hereunder as set forth below: (i) [ * ] of applicable Sublicense Income with respect to sublicenses entered into [ *
]; (ii) [ * ] of applicable Sublicense Income with respect to sublicenses entered into [ * ]; and (iii) [ * ] of applicable Sublicense Income with respect to sublicenses entered into [ * ]. Notwithstanding
anything to the contrary set forth in the preceding sentence, in the case of any sublicense entered into after Buyer has spent at least [ * ] in the aggregate for all expenses of any kind incurred in connection with the development, testing
and commercialization of all GVAX Products, each percentage specified in the preceding sentence shall be reduced to [ * ], Notwithstanding anything to the contrary in this Section 4.2.2(b), in no event shall the cumulative, aggregate
payments made to Seller by Buyer pursuant to this Section 4.2.2(b) exceed the amount of [ * ]. 
 4.3 Payment
Terms. 
 4.3.1 Payment of Royalties and Milestones. Unless otherwise expressly provided, Buyer shall make any royalty
payments owed to Seller hereunder in arrears, within [ * ] days from the end of each quarter in which the Net Sales giving rise to such payments are received by Buyer. Buyer will pay to Seller the amounts due under the Hussman Agreement

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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pursuant to Section 4.2.1 within [ * ] days from receipt of such amounts. Buyer shall make any milestone payments owed to Seller hereunder within [ * ] days following the date
on which such milestone is achieved. Each royalty payment shall be accompanied by a report specifying: Net Sales in each country’s currency; the royalties payable, including an accounting of deductions taken in the calculation of Net Sales; if
any proceeds on Net Sales were received in currencies other than United States Dollars, the applicable exchange rate to convert from each country’s currency to United States Dollars under this Section 4.3; and the royalties payable in
United States Dollars. 
 4.3.2 Accounting. All payments hereunder shall be made in the United States in United States Dollars.
Conversion of foreign currency to United States Dollars shall be made at the conversion rate existing in the United States (as reported in The Wall Street Journal) on the last business day of the quarter immediately preceding the applicable
calendar quarter. If The Wall Street Journal ceases to be published, then the rate of exchange to be used shall be that reported in such other business publication of national circulation in the United States as the Parties reasonably agree.

 4.3.3 Tax Withholding; Restrictions on Payment. All payments hereunder shall be made free and clear of any taxes, duties, levies,
fees or charges, except for withholding taxes (to the extent applicable). Buyer shall make any applicable withholding payments due on behalf of Seller and shall provide Seller upon request with such written documentation regarding any such payment
as available to Buyer relating to an application by Seller for a foreign tax credit for such payment with the United States Internal Revenue Service. If by law, regulations or fiscal policy of a particular country in the Territory, remittance of
royalties in United States Dollars is restricted or forbidden, written notice thereof shall promptly be given to Seller, and payment of the royalty shall be made by the deposit thereof in local currency to the credit of Seller in a recognized
banking institution reasonably designated by Seller by written notice to Buyer. When in any country in the Territory the law or regulations prohibit both the transmittal and the deposit of royalties on sales in such country, royalty payments shall
be suspended for as long as such prohibition is in effect and as soon as such prohibition ceases to be in effect, all royalties that Buyer would have been under an obligation to transmit or deposit but for the prohibition shall forthwith be
deposited or transmitted, to the extent allowable. 
 4.4 Records Retention; Review. 

4.4.1 Royalties. Commencing as of the date of First Commercial Sale of the first GVAX Product hereunder, Buyer and its Affiliates shall
keep for at least [ * ] years from the end of the calendar year to which they pertain accurate records of sales by Buyer or its Affiliates, as the case may be, of each GVAX Product, in sufficient detail to allow the accuracy of the payments
hereunder to be confirmed. 
 4.4.2 Review. Subject to the other terms of this Section 4.4.2, at the request of Seller, which
shall not be made more frequently than once per calendar year during the Royalty Term, upon at least [ * ] days’ prior written notice from Seller, and at the expense of Seller (except as otherwise provided herein), Buyer shall permit an
independent certified public 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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accountant reasonably selected by Seller and reasonably acceptable to Buyer to inspect (during regular business hours) the relevant records required to be maintained by Buyer under this
Section 4.4. In every case the accountant must have previously entered into a confidentiality agreement with both Parties substantially similar to the provisions of Section 5 and limiting the disclosure and use of such information by such
accountant to authorized representatives of the Parties and the purposes germane to this Section 4.4. Results of any such review shall be binding on both Parties absent manifest error. Each Party agrees to treat the results of any such
accountant’s review of the other Party’s records under this Section 4.4 as Confidential Information of the other Party subject to the terms of Section 5. If any review reveals a deficiency in the calculation and/or payment of
royalties by Buyer, then (a) Buyer shall promptly pay Seller the amount remaining to be paid, and (b) if such underpayment is by ten percent (10%) or more, Buyer shall pay the reasonable out-of-pocket costs and expenses incurred by
Seller in connection with the review. If any review reveals an overpayment by Buyer, then Seller shall promptly pay such excess amount to Buyer, or at Buyer’s option, Buyer may credit such amount against future royalty payments owed to Seller.

 4.4.3 Updates and Reports. Buyer shall provide Seller with brief written reports no less frequently than quarterly during the
Royalty Term summarizing Buyer’s efforts to Develop and commercialize GVAX Products hereunder. Quarterly reports shall be made no later than [ * ] days following the end of each calendar quarter. In addition, Buyer shall provide Seller
with prompt written notice of the occurrence of the First Commercial Sale of any GVAX Product in any country. All reports and updates and other information provided by Buyer to Seller under this Agreement (including under this Section 4), shall
be considered Confidential Information of Buyer, subject to the terms of Section 5 hereof. 
 5. TREATMENT OF CONFIDENTIAL
INFORMATION 
 5.1 Confidential Obligations. Seller and Buyer each recognize that the other Party’s Confidential Information
constitutes highly valuable and proprietary confidential information. Seller and Buyer each agree that during the Royalty Term and for [ * ] years thereafter, it will keep confidential, and will cause its employees, consultants, Affiliates
and sublicensees to keep confidential, all Confidential Information of the other Party. Neither Seller nor Buyer nor any of their respective employees, consultants, Affiliates or sublicensees shall use Confidential Information of the other Party for
any purpose whatsoever other than exercising any rights granted to it or reserved by it hereunder. Without limiting the foregoing, each Party may disclose information to the extent such disclosure is reasonably necessary to (a) file and
prosecute patent applications and/or maintain patents which are filed or prosecuted in accordance with the provisions of this Agreement, or (b) file, prosecute or defend litigation in accordance with the provisions of this Agreement or
(c) comply with Applicable Law or court orders; provided, however, that if a Party is required to make any such disclosure of the other Party’s Confidential Information in connection with any of the foregoing, it will give
reasonable advance notice to the other Party of such disclosure requirement and will use reasonable efforts to assist such other Party in efforts to secure confidential treatment of such information required to be disclosed. From and after the
Closing Date, the Purchased Assets shall be the Confidential Information of Buyer. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 5.2 Limited Disclosure and Use. Seller and Buyer each agree that any disclosure of
the other Party’s Confidential Information to any officer, employee, consultant or agent of the other Party or any of its Affiliates shall be made only if and to the extent necessary to carry out its rights and responsibilities under this
Agreement, shall be limited to the maximum extent possible consistent with such rights and responsibilities and shall only be made to the extent any such Persons are bound by written confidentiality obligations to maintain the confidentiality
thereof and not to use such Confidential Information except as expressly permitted by this Agreement. Seller and Buyer each further agree not to disclose or transfer the other Party’s Confidential Information to any Third Parties under any
circumstance without the prior written approval from the other Party (such approval not to be unreasonably withheld), except as otherwise required by law, and except as otherwise expressly permitted by this Agreement. Each Party shall take such
action, and shall cause its Affiliates and sublicensees to take such action, to preserve the confidentiality of each other’s Confidential Information as it would customarily take to preserve the confidentiality of its own Confidential
Information, using, in all such circumstances, not less than reasonable care. Each Party, upon the request of the other Party, will return all the Confidential Information disclosed or transferred to it by the other Party pursuant to this Agreement,
including all copies and extracts of documents and all manifestations in whatever form, within [ * ] days of such request or, if earlier, the termination or expiration of this Agreement; provided however, that a Party may retain
one (1) copy of all other Confidential Information in inactive archives solely for the purpose of establishing the contents thereof. 

5.3 Publicity. Neither Party may publicly disclose the existence or terms or any other matter of fact regarding this Agreement
without the prior written consent of the other Party, which consent shall not be unreasonably withheld or delayed; provided, however, that (a) either Party may make such a disclosure to the minimum extent required by law or by the
requirements of any nationally recognized securities exchange, quotation system or over-the-counter market on which such Party has its securities listed or traded, or (b) either Party may disclose the existence and high level terms (including
without limitation high level financial terms) of this Agreement to any investors, prospective investors, lenders and other potential financing sources, and may provide a copy of this Agreement to any such Persons who have executed a non-disclosure
agreement with respect to such copy, and Seller may file a copy of this Agreement with the SEC as an exhibit to its public filing to the extent required to comply with applicable securities laws, provided that Seller seeks confidential treatment
thereof. In the event that such disclosure is required as aforesaid, the disclosing Party shall make reasonable efforts to provide the other Party with notice beforehand and to coordinate with the other Party with respect to the wording, content,
scope and timing of any such disclosure. The Parties, upon the execution of this Agreement, will mutually agree to a press release with respect to this transaction for publication. Once such press release or any other written statement is approved
for disclosure by both Parties, either Party may make subsequent public disclosure of the contents of such statement without the further approval of the other Party. 

5.4 Use of Name. Except as provided in Section 5.3, neither Party shall employ or use the name of the other Party in
any promotional materials or advertising without the prior express written permission of the other Party. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 6. POST-CLOSING COVENANTS 

6.1 Hussman Agreement. Following the Closing, Buyer shall have the option, in its sole discretion, of finalizing the Hussman
Agreement. In the event that Buyer elects to finalize the Hussman Agreement, Buyer will receive a credit for 75% of the costs incurred by Buyer in connection therewith including, without limitation, legal costs against any payment obligations to
Seller, except that it may not apply such credit to the Closing Payment or to the pass-through payment obligations to licensors in connection with the Transferred Contracts. Buyer will provide Seller with an accounting of its expenses related to the
Hussman Agreement every six (6) months. 
 6.2 Observer Rights. Following the Closing, Buyer will grant observer rights
status to one Seller designee who has at least [ * ] years of expertise in the development of GVAX and who is not involved in supporting directly or indirectly any competitive products, and approved in advance by Buyer in its
reasonable discretion (the “Seller Designee”), to attend scientific advisory board meetings related solely to the Purchased Assets, to the extent Seller desires such rights. The Seller Designee shall agree in writing with Buyer to
hold such meetings and all discussions and information received in confidence and trust. Buyer reserves the right to withhold any information and to exclude the Seller Designee from any meeting or portion thereof if access to such information or
attendance at such meeting could adversely affect the attorney-client privilege between Buyer and its counsel or result in disclosure of trade secrets or a conflict of interest, or any other competitive information. 

6.3 Technology Transfer Assistance. In order to enable Buyer to exercise its rights in the Purchased Assets, following the
Closing Seller will promptly provide to Buyer all necessary cooperation and assistance reasonably requested by Buyer in connection with transferring any Technology related to the Purchased Assets. The foregoing may include providing Buyer access to
Seller’s employees Stephen M. Simes, Phillip B. Donenberg and Jeffrey W. Winkelman, as long as they remain employees of Seller, in order for Buyer to ask questions and causing its employees to furnish to Buyer such information as Buyer may
reasonably request from time to time. In any event, the Technology transfer shall be completed within [ * ] days after the Closing Date. 

7. REPRESENTATIONS, WARRANTIES AND COVENANTS 

7.1 Seller Representations. Seller represents and warrants to Buyer that: 

(a) The execution and delivery of this Agreement and the other documents to be executed and delivered by Seller in connection with this
Agreement (the “Transaction Documents”) and the performance of the transactions contemplated hereby and thereby have been duly authorized by (i) all appropriate Seller corporate action, and (ii) is permitted
pursuant to the terms of that certain Agreement and Plan of Merger dated as of October 3, 2012 between Seller and ANIP Acquisition Company d/b/a ANI Pharmaceuticals, Inc. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 (b) This Agreement and the other Transaction Documents are legal and valid obligations binding
upon Seller and enforceable in accordance with their terms, and the execution, delivery and performance of this Agreement and the other Transaction Documents by the Parties do not conflict with any agreement, instrument or understanding to which
Seller is a party or by which it is bound. 
 (c) Seller has the full right and legal authority to enter into this Agreement and the other
Transaction Documents and to consummate the transaction contemplated therein without violating the rights of any Third Party and no consent, approval, license, permit, order or authorization of, or registration, declaration, notice or filing with,
the FDA or any other Governmental Entity is required in connection with the execution, delivery and performance by Seller of this Agreement or the other Transaction Documents to which it is a party or the consummation by Seller of the transactions
contemplated hereby and thereby. 
 (d) Schedule A sets forth a true, correct and complete list of all Purchased Assets, including
all patents, patent applications and other Patent Rights, and all other intellectual property, contracts, Technology, Regulatory Approvals, Regulatory Documentation, related to or comprising the GVAX vaccines. 

(e) The Purchased Assets constitute all of the assets, tangible and intangible, of any nature whatsoever of Seller related to or comprising
GVAX vaccines and any assets necessary or reasonably useful to make, have made, use, have used, sell, offer for sale, have sold, import, have imported, develop, have developed, commercialize, and have commercialized GVAX Products, and Seller has
good and marketable title to all the Purchased Assets free and clear of all Encumbrances. 
 (f) Seller is the sole and exclusive owner, or
is the exclusive licensee (unless specifically designated as non-exclusive on Schedule A) pursuant to the Transferred Contracts, of the Purchased Assets. 

(g) To the best of Seller’s knowledge, Purchased Patent Rights have been properly filed and prosecuted and Seller is not aware of any
Third Party patent, patent application or other intellectual property rights that would be infringed (i) by practicing any process or method or by making, using or selling any composition which is claimed or disclosed in, or which constitutes,
Purchased Technology, or (ii) by making, using, offering for sale, selling or importing GVAX Products. To the best of Seller’s knowledge, Seller is not aware of any infringement or misappropriation by a Third Party of the Purchased
Technology. 
 (h) Except as specifically set forth on Schedule C attached hereto, each Transferred Contract is assignable by Seller
to Buyer without the consent of any other Person. True and complete copies of all Transferred Contracts (including all amendments, modifications, supplements and waivers thereof) have been delivered to Buyer by Seller. Each Transferred Contract is
currently valid and in full force and effect, and is enforceable by Seller in accordance with its terms. Seller is not in material default, and no party has notified Seller that it is in material default, under any Transferred Contract, and no event
has occurred, and no circumstance or conditions exists that might, with or without notice or lapse of time, result in any 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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default, breach or acceleration of performance, cancellation, termination or modification to any Transferred Contract. Except as set forth in the Transferred Contracts, there are no Liabilities
of Seller in connection with any of the Transferred Contracts. 
 (i) All patents and technology and all rights therein that are licensed
to Hussman under the Hussman Agreement are included as part the Purchased Assets, including without limitation, MIT Patents, JHU Patents, BioSante Patents and BioSante Technology (each as defined in the Hussman Agreement) and have been delivered to
Hussman in connection with the Hussman Agreement. As of the Closing Date, all obligations of BioSante under the Hussman Agreement have been duly fulfilled. Buyer has no obligation to Hussman to deliver to Hussman any additional intellectual property
and the consummation of the transactions contemplated hereunder shall not give rise to an obligation for Seller to deliver any further intellectual property to Hussman. 

(j) All rights and obligations of Cell Genesys under the JHU License Agreements have been duly and validly assigned to Seller. Neither JHU
nor Seller is in default of any of its obligations under the JHU License Agreements, nor has either party to the JHU License Agreements asserted that the other party is in default of its obligations under the JHU License Agreements. The JHU License
Agreements are valid and binding agreements, enforceable by Seller against JHU in accordance with its terms, and Seller has not consented to any amendment or waiver to such agreements. 

(k) As of the Effective Date, the Seller has not entered into any licenses, sub-licenses or assignments with respect to any GVAX vaccines or
other bacterial vaccines or related intellectual property rights licensed by Seller under the JHU License Agreements, other than pursuant to the Hussman Agreement and the Exclusive License Agreement by and between Seller as “Licensor” and
Aduro BioTech, Inc., a Delaware corporation as “Licensee” dated March 24, 2011. 
 (l) Seller is, and at all times during
the three (3) years prior to the date hereof, has been, in compliance in all material respects with all Applicable Law with respect to the Purchased Assets, and no event has occurred or circumstance exists that (with or without notice or lapse
of time, or both) (A) may constitute or result in a material violation by Seller of, or a failure of Seller to comply with in any material respect, any Applicable Law with respect to the Purchased Assets, or (B) may give rise to any
obligation of Seller to undertake, or to bear all or any portion of the cost of, any recall, withdrawal, retrieval or other remedial action with respect to the Purchased Assets. 

(m) There is no pending or, to Seller’s knowledge, no threatened litigation relating to the Purchased Assets. 

(n) Seller has not received, at any time during the three (3) years prior to the date hereof, any written, or to the knowledge of
Seller, oral notice or other communication with respect to the Purchased Assets from any Governmental Entity or any other Person regarding any actual, alleged, possible or potential material violation of, or failure to comply in any material respect
with, any Applicable Law, and to the knowledge of Seller, no investigation 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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or review (other than routine inspections by the FDA and other Governmental Entities concerned with the safety, efficacy, reliability, manufacture, investigation, sale and marketing of
pharmaceuticals) by any Governmental Entity is or at any time during the three (3) years prior to the date hereof has been, pending or threatened with respect to the Purchased Assets. 

(o) Schedule A contains a complete and accurate list of all Regulatory Approvals held by Seller with respect to the Purchased Assets.
Each Regulatory Approval is in the name of Seller and in full force and effect. Seller further represents and warrants that Seller is, and at all times during the three (3) years prior to the date hereof has been, in compliance in all material
respects with all of the terms and requirements of each Regulatory Approval. To the knowledge of Seller, no event has occurred or circumstance exists that would reasonably be expected to (with or without notice or lapse of time, or both) constitute
or result directly or indirectly in a material violation of or a failure to comply in any material respect with any term or requirement of any Regulatory Approval or result directly or indirectly in the revocation, withdrawal, suspension,
cancellation or termination of, or any material modification to, any Regulatory Approval. In the three (3) years prior to the date hereof, Seller has not received any written, or to the knowledge of Seller, any oral notice or other
communication from any Governmental Entity or any other Person regarding any actual, alleged, possible or potential material violation of or failure to comply in any material respect with any term or requirement of any Regulatory Approval, or
revocation, withdrawal, suspension, cancellation, termination of or material modification to any Regulatory Approval. Seller has provided Buyer with the complete and accurate copy of each Regulatory Approval, and all correspondence with the FDA
relating thereto, used to obtain any Regulatory Approval. Seller has not disclosed any of the dossiers relating to the regulatory marketing authorizations, licenses, permits and registrations which are included in the Regulatory Approvals to any
Third Party except the appropriate Governmental Entities responsible for regulation of dealings in medicinal products or except as required to comply in any material respect with all Applicable Laws. 

(p) In the past three (3) years, no Governmental Entity has stated or declared to Seller, nor to Seller’s knowledge to any other
Person, that GVAX or any GVAX-related product is defective, unsafe for its intended use or fails to meet in any material respect applicable standards promulgated by such Governmental Entity. 

(q) To the knowledge of Seller, all preclinical studies and clinical trials among the Purchased Assets have been conducted in compliance with
Applicable Laws in all material respects, and to the knowledge of Seller there are no facts, circumstances or conditions that would reasonably be expected to result in any material adverse effect upon the use, integrity or validity of any
pre-clinical or clinical trial or of any related results or conclusions of any clinical trial conducted, supported or permitted by or on behalf of Seller. Seller is not subject to an FDA consent decree or any similar order of a Foreign Regulatory
Authority or Governmental Entity. 
 (r) To the knowledge of Seller, no Person working on any research, study or trial conducted, supported
or permitted by or on behalf of Seller has been or is currently, to the knowledge of Seller, debarred or disqualified by the FDA or any other Governmental Entity from participating in such research, studies or trials, or any healthcare program. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 (s) Neither Seller, nor any officer, employee, or, to the knowledge of Seller, agent of Seller,
has made any false statement or failed to disclose a material fact in, the applications, approvals, reports or other submissions to the FDA or other Governmental Entity or in or from any other records and documentation prepared or maintained to
comply with the requirements of the FDA or other Governmental Entity, or committed an act, made a statement or failed to make a statement, that (in any such case) establishes a reasonable basis for the FDA to invoke its policy respecting
“Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities,” set forth in 56 Fed. Reg. 46191 (September 10, 1991). Neither Seller, nor any officer, employee or, and to the knowledge of Seller, agent of Seller or principal
investigator or sub-investigator of any clinical investigation sponsored by Seller has, on account of actions taken for or on behalf of Seller, been convicted of any crime under 21 U.S.C. Section 335a(a) or any similar state or non-U.S.
Applicable Law or under 21 U.S.C. Section 335a(b) or any similar state or non-U.S. Applicable Law. 
 7.2 Buyer
Representations. Buyer represents and warrants to Seller that: 
 (a) The execution and delivery of this Agreement and the other
Transaction Documents and the performance of the transactions contemplated hereby and thereby have been duly authorized by all appropriate Buyer corporate action; and 

(b) This Agreement and the other Transaction Documents are legal and valid obligations binding upon Buyer and enforceable in accordance with
their terms, and the execution, delivery and performance of this Agreement and the other Transaction Documents by the Parties do not conflict with any agreement, instrument or understanding to which Buyer is a party of or by which it is bound. 

(c) Buyer has the full right and legal authority to enter into this Agreement and the other Transaction Documents and to consummate the
transaction contemplated therein without violating the rights of any Third Party and no consent, approval, license, permit, order or authorization of, or registration, declaration, notice or filing with, the FDA or any other Governmental Entity is
required in connection with the execution, delivery and performance by Buyer of this Agreement or the other Transaction Documents to which it is a party or the consummation by Buyer of the transactions contemplated hereby and thereby. 

7.3 No Additional Warranties. Except as otherwise set forth herein, EACH PARTY ACKNOWLEDGES AND AGREES THAT ALL TECHNOLOGY
TRANSFERRED OR SERVICES PROVIDED HEREUNDER ARE PROVIDED WITHOUT ANY ADDITIONAL WARRANTIES WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT THERETO, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR
A PARTICULAR PURPOSE. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 8. CONDITIONS TO CLOSING 

8.1 Conditions Precedent to Obligations of Buyer. The obligations of Buyer to close are subject to the satisfaction of the
following conditions, unless waived by Buyer in writing: 
 8.1.1 Representations and Warranties. The representations and warranties
of Seller set forth in this Agreement, or in any written statement or certificate that shall be delivered to Buyer by Seller under this Agreement, shall be true and correct on and as of the date made and as of the Closing Date as if made on the date
thereof. 
 8.1.2 Performance of Obligations. Seller shall have performed in all material respects all obligations and covenants
required to be performed by Seller under this Agreement and any other agreement or document entered into in connection herewith prior to the Closing Date. 

8.1.3 No Material Adverse Change. There shall have been no material adverse change, loss or damage with respect to the Purchased
Assets from the date hereof through the Closing Date. 
 8.1.4 Due Diligence. Buyer shall have completed to its sole satisfaction a
due diligence review of the Purchased Assets. 
 8.1.5 Bridge Financing. Buyer shall have signed agreements from investors to
purchase debt or equity of Buyer in a bridge financing of at least $5,500,000 on terms satisfactory to Buyer in its sole discretion. 

8.1.6 JHU. Buyer and JHU shall have entered into a Patent and Technology License and Material Transfer Agreement in a form
satisfactory to Buyer in its sole discretion. 
 8.1.7 Closing Deliveries. Seller shall have delivered to Buyer all of the closing
documents and agreements set forth in Sections 3.2.2 and 3.2.3. 
 8.2 Conditions Precedent to Obligations of Seller. The
obligations of Seller to close are subject to the satisfaction of the following conditions, unless waived by Seller in writing: 
 8.2.1
Representations and Warranties. The representations and warranties of Buyer set forth in this Agreement, or in any written statement or certificate that shall be delivered to Seller by Buyer under this Agreement shall be true and correct on
and as of the date made and as of the Closing Date as if made on the date thereof. 
 8.2.2 Performance of Obligations. Buyer shall
have performed in all material respects all obligations and covenants required to be performed by it under this Agreement and any other agreement or document entered into in connection herewith prior to the Closing Date. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 8.2.3 Closing Deliveries. Buyer shall have delivered to Sellers all of the closing
documents and agreements set forth in Section 3.2.3. 
 8.2.4 Closing Payment. Buyer shall be ready to wire the Closing Payment
in immediately available funds to an account designated by Seller in writing. 
 9. TERMINATION 

9.1 Circumstances for Termination. At any time prior to the Closing, this Agreement may be terminated by written notice: 

9.1.1 by the mutual written consent of Buyer and Seller; 

9.1.2 by either Buyer or Seller if the other party is in material breach of any provision of this Agreement, which breach would give rise to
a failure to satisfy any condition set forth in Section 8.1.1 and 8.1.2, or Section 8.2.1 and 8.2.2, as applicable, provided that the terminating party is not, on the date of termination, in material breach of any material provision of
this Agreement; 
 9.1.3 by either Buyer or Seller if the Closing has not occurred on or prior to Febuary 15, 2013, or such later date as
agreed to by Buyer and Seller in writing, for any reason, provided that the terminating party shall not have breached its obligations hereunder in any manner that shall have contributed to the failure to consummate the Closing by such date; and 

9.1.4 by either Buyer or Seller if satisfaction of a closing condition of the terminating party in Section 8 is impossible, provided
that the terminating party is not, on the date of termination, in material breach of any material provision of this Agreement. 
 9.2
Effect of Termination. If this Agreement is terminated in accordance with Section 9.1, all obligations of the parties hereunder shall terminate, except for the obligations set forth in this Section 9, Section 11 and
Section 12; provided, however, that such termination shall not release either party from any Liability that has already accrued as of the effective date of such termination, and shall not constitute a waiver or release of, or otherwise be
deemed to prejudice or adversely affect, any rights, remedies or claims, whether for damages or otherwise, which a party may have hereunder, at law, equity or otherwise or which may arise out of or in connection with such termination. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 10. INDEMNIFICATION 

10.1 Indemnification. 

10.1.1 Buyer Indemnity. Buyer shall indemnify, defend and hold harmless Seller, its Affiliates and their respective directors,
officers, employees, stockholders and agents and their respective successors, heirs and assigns (the “Seller Indemnitees”) from and against any Liability, damage, loss or expense (including reasonable attorneys’ fees and
expenses of litigation) incurred by or imposed upon such Seller Indemnitees, or any of them, in connection with any claims, suits, actions, demands or judgments, including, without limitation, personal injury and product liability matters, to the
extent arising out of (a) Buyer’s breach of any of its representations, warranties or obligations under this Agreement, and (b) the Assumed Liabilities, including the ownership or use of the Purchased Assets from and after the Closing
Date. 
 10.1.2 Seller Indemnity. Subject to Section 10.1.1 above, Seller shall indemnify, defend and hold harmless Buyer, its
Affiliates and their respective directors, officers, employees, stockholders and agents, and their respective successors, heirs and assigns (the “Buyer Indemnitees”), from and against any Liability, damage, loss or expense
(including reasonable attorneys’ fees and expenses of litigation) incurred by or imposed upon such Buyer Indemnitees, or any of them, in connection with any claims, suits, actions, demands or judgments, including, without limitation, personal
injury and product liability matters, to the extent arising out of (a) Seller’s breach of any of its representations, warranties or obligations under this Agreement, and (b) any Excluded Liability. Notwithstanding the foregoing, the
maximum indemnification obligation of Seller under Section 10.1.2(a) relating to any breach of any representation or warranty set forth in Section 7.1, other than a breach of any representation or warranty set forth in Sections 7.1(a),
(b), (c), (e), or (f) shall not exceed the aggregate amount paid or payable by Buyer under this Agreement. The limitations provided for in this Section 10.1.2 shall not apply to any indemnification obligation of Seller arising from the
fraud or willful misconduct of Seller. 
 10.2 Survival. The representations and warranties contained herein shall survive the
Closing and shall remain in full force and effect until the date that is two years from the Closing Date; provided, that the representations and warranties in Sections 7.1(a), (b), and (c) and 7.2(a), (b) and (c) shall survive
indefinitely. All covenants and agreements of the Parties contained herein shall survive the Closing indefinitely or for the period explicitly specified therein. Notwithstanding the foregoing, any claims asserted in good faith with reasonable
specificity (to the extent known at such time) and in writing by notice from the non-breaching Party to the breaching Party prior to the expiration date of the applicable survival period shall not thereafter be barred by the expiration of the
relevant representation or warranty and such claims shall survive until finally resolved. 
 10.3 Indemnification Procedures.
In the event that any Indemnitee is seeking indemnification under Section 10.1 above from a Party (the “Indemnifying Party”), the other Party shall notify the Indemnifying Party of such claim with respect to such
Indemnitee as soon as reasonably practicable after the Indemnitee receives notice of the claim, and the Party (on 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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behalf of itself and such Indemnitee) shall permit the Indemnifying Party to assume direction and control of the defense of the claim (including the right to settle the claim solely for monetary
consideration) and shall cooperate as requested (at the expense of the Indemnifying Party) in the defense of the claim. The indemnification obligations under Section 10 shall not apply to any harm suffered as a direct result of any delay in
notice to the Indemnifying Party hereunder or to amounts paid in settlement of any claim, demand, action or other proceeding if such settlement is effected without the consent of the Indemnifying Party, which consent shall not be withheld or delayed
unreasonably. The Indemnitee, its employees and agents, shall reasonably cooperate with the Indemnifying Party and its legal representatives in the investigation of any claim, demand, action or other proceeding covered by Section 10.1. 

10.4 Right of Set-Off. Buyer shall have the right, in its sole discretion, to off-set against any Royalty Payments or other
payments owed by Buyer to Seller under this Agreement, other than the Closing Payment, the aggregate amount of any Liabilities, damages, losses or expenses incurred by or imposed upon Buyer as a result of (a) any indemnification obligations of
Seller under Section 10.2, and/or (b) Seller’s breach of this Agreement; provided, however, that the foregoing shall not have the effect of limiting any Liability of Seller to Buyer for the prompt payment to Buyer of any
amounts owed. The remedies provided in this Agreement shall be cumulative and shall not preclude any Party from asserting any other right, or seeking any other remedies, against the other Party. 

11. DISPUTES 
 11.1
Jurisdiction and Venue. The Parties agree that all actions or proceedings arising in connection with this Agreement shall be initiated and tried exclusively in the state and federal courts located in New York City, New York. The
aforementioned choice of venue is intended by the Parties to be mandatory and not permissive in nature, thereby precluding the possibility of litigation between the Parties with respect to or arising out of this Agreement in any jurisdiction other
than that specified in this Section 11.1. Each Party hereby waives any right it may have to assert the doctrine of forum non conveniens or similar doctrine or to object to venue with respect to any proceeding brought in accordance with
this paragraph, and stipulates that the state and federal courts located in New York City, New York shall have in personam jurisdiction and venue over each of them for the purposes of litigating any dispute, controversy or proceeding arising
out of or related to this Agreement. Each Party hereby authorizes and accepts service of process sufficient for personal jurisdiction in any action against it as contemplated by this Section 11 by registered or certified mail, return receipt
requested, postage prepaid, to its address for the giving of notices as set forth in this Agreement, or in the manner set forth in Section 12.1 of this Agreement for the giving of notice. Any final judgment rendered against a party in any
action or proceeding shall be conclusive as to the subject of such final judgment and may be enforced in other jurisdictions in any manner provided by Applicable Law. 

12. MISCELLANEOUS 
 12.1
Notification. All notices, requests and other communications hereunder shall be in writing, shall be addressed to the receiving Party’s address set forth below or to such other address as a Party may designate by notice hereunder,
and shall be either (i) delivered by 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

-27- 

 
hand, (ii) made by facsimile transmission (to be followed with written fax confirmation), (iii) sent by private courier service providing evidence of receipt, or (iv) sent by
registered or certified mail, return receipt requested, postage prepaid. The addresses and other contact information for the Parties are as follows: 
  

			
	If to Seller:		 BioSante Pharmaceuticals, Inc
 111 Barclay
Boulevard, Suite 400
 Lincolnshire, Illinois 60069
 Attn:
President & CEO

		
	With a copy to:		 Oppenheimer, Wolff & Donnelly
 Campbell
Mithum Building, Suite 2000
 222 South Ninth Street

Minneapolis, Minnesota 55402-1609
 Attn: Ms. Amy Culbert,
Esq.

		
	If to Buyer:		 Aduro GVAX Inc.
 626 Bancroft Way, #3C

Berkeley, CA 94710-2224
 Attn: President & CEO

		
	With a copy to:		 Sheppard, Mullin, Richter & Hampton LLP
 4
Embarcadero Center, Suite 1700
 San Francisco, CA 94111
 Attn:
William Manierre, Esq.

 All notices, requests and other communications hereunder shall be deemed to have been given either (i) if
by hand, at the time of the delivery thereof to the receiving Party at the address of such Party set forth above, (ii) if made by telecopy or facsimile transmission, at the time that receipt thereof has been acknowledged by the recipient,
(iii) if sent by private courier, on the day such notice is delivered to the recipient, or (iv) if sent by registered or certified mail, on the fifth (5th) business day following
the day such mailing is made. 
 12.2 Language. This Agreement has been prepared in the English language and the English
language shall control its interpretation. 
 12.3 Governing Law. This Agreement will be construed, interpreted and
applied in accordance with the laws of the State of New York (excluding its body of law controlling conflicts of law). 
 12.4 Entire
Agreement. This is the entire Agreement between the Parties with respect to the subject matter hereof and supersedes all prior representations, understandings and agreements between the Parties with respect to the subject matter hereof. No
modification shall be effective unless in writing with specific reference to this Agreement and signed by the Parties. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 12.5 Waiver. The terms or conditions of this Agreement may be waived only by a
written instrument executed by the Party waiving compliance. The failure of either Party at any time or times to require performance of any provision hereof shall in no manner affect its rights at a later time to enforce the same. No waiver by
either Party of any condition or term shall be deemed as a continuing waiver of such condition or term or of another condition or term. 

12.6 Headings. Section and subsection headings are inserted for convenience of reference only and do not form part of this
Agreement. 
 12.7 Assignment. Neither this Agreement nor any right or obligation hereunder may be assigned, delegated or
otherwise transferred, in whole or part, by either Party without the prior express written consent of the other; provided, however, that either Party may, without the written consent of the other, assign this Agreement and its rights and delegate
its obligations hereunder to its Affiliates, or in connection with the transfer or sale of all or substantially all of such Party’s assets or business related to this Agreement, or in the event of its merger, consolidation, change in control or
similar transaction. Any permitted assignee shall assume all obligations of its assignor under this Agreement. Any purported assignment in violation of this Section 12.7 shall be void. The terms and conditions of this Agreement shall be binding
upon and inure to the benefit of the permitted successors and assigns of the Parties. 
 12.8 Force Majeure. Neither Party
shall be liable for failure of or delay in performing obligations set forth in this Agreement, and neither shall be deemed in breach of its obligations, if such failure or delay is due to natural disasters or any causes beyond the reasonable control
of such Party. In event of such force majeure, the Party affected thereby shall use reasonable efforts to cure or overcome the same and resume performance of its obligations hereunder. 

12.9 Construction. The Parties hereto acknowledge and agree that: (a) each Party and its counsel reviewed and negotiated
the terms and provisions of this Agreement and have contributed to its revision; (b) the rule of construction to the effect that any ambiguities are resolved against the drafting Party shall not be employed in the interpretation of this
Agreement; and (c) the terms and provisions of this Agreement shall be construed fairly as to all Parties hereto and not in favor of or against any Party, regardless of which Party was generally responsible for the preparation of this
Agreement. 
 12.10 Severability. If any provision(s) of this Agreement are or become invalid, are ruled illegal by any court
of competent jurisdiction or are deemed unenforceable under then current Applicable Law from time to time in effect during the Term hereof, it is the intention of the Parties that the remainder of this Agreement shall not be affected thereby
provided that a Party’s rights under this Agreement are not materially affected. The Parties hereto covenant and agree to renegotiate any such term, covenant or application thereof in good faith in order to provide a reasonably acceptable
alternative to the term, covenant or condition of this Agreement or the application thereof that is invalid, illegal or unenforceable, it being the intent of the Parties that the basic purposes of this Agreement are to be effectuated. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 12.11 Further Assurances. Each Party agrees to execute, acknowledge and deliver
such further instructions and documents, and to do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 

12.12 Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 
 [Remainder of page intentionally left blank] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly
authorized representative in two (2) originals. 
  

									
	ADURO GVAX INC.				BIOSANTE PHARMACEUTICALS, INC.
					
	By:		 /s/ Stephen T. Isaacs
				By:		 /s/ Stephen M. Simes

	Name:		 Stephen T. Isaacs
				Name:		 Stephen M. Simes

	Title:		President & CEO				Title:		President & CEO
				
	 SOLELY FOR PURPOSES OF SECTION 3.1.4:
						
				
	 Aduro BioTech, Inc.
						
					
	 By:
		 /s/ Stephen T. Isaacs
						
	 Name:
		Stephen T. Isaacs						
	 Title:
		President & CEO						

 [SIGNATURE PAGE TO ASSET PURCHASE AGREEMENT] 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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