Document:

EX-10.24

 Exhibit 10.24 

CONFIDENTIAL 
 CONFIDENTIAL TREATMENT REQUESTED
UNDER RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. [...***...] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY
WITH THE COMMISSION. 
 PLATFORM TECHNOLOGY TRANSFER AND LICENSE AGREEMENT 

Between 
 Zymeworks Inc.

 and 

GlaxoSmithKline Intellectual Property Development Limited 

April 21, 2016 

  
 Confidential 

 CONFIDENTIAL 
  

 TABLE OF CONTENTS 

 

									
	 Section
	    	 	  	Page	 
			
	1.	    	 DEFINITIONS AND INTERPRETATIONS
	  	 	5	 
			
	2.	    	 GRANT OF LICENSES
	  	 	14	 
				
		    	 2.1
	    	Licenses to GSK	  	 	14	 
		    	 2.2
	    	Sublicenses	  	 	15	 
		    	 2.3
	    	No Implied Licenses	  	 	15	 
		    	 2.4
	    	Prior Agreement	  	 	16	 
		    	 2.5
	    	Performance by Subcontractors	  	 	16	 
			
	3.	    	 TECHNOLOGY TRANSFER, TARGET SELECTION AND DEVELOPMENT AND COMMERCIALIZATION OF
PRODUCTS
	  	 	16	 
				
		    	 3.1
	    	Technology Transfer	  	 	16	 
		    	 3.2
	    	Improvements	  	 	17	 
		    	 3.3
	    	Records and Inspections	  	 	17	 
		    	 3.4
	    	[...***...] and GSK Sequence Pair Selection	  	 	18	 
		    	 3.5
	    	Development and Commercialization of GSK Products	  	 	21	 
		    	 3.6
	    	Transfers of Materials	  	 	21	 
			
	4.	    	 FINANCIAL PROVISIONS
	  	 	22	 
				
		    	 4.1
	    	Upfront Payment	  	 	22	 
		    	 4.2
	    	Sequence Pair Nomination Right Exercise Fee Payments	  	 	22	 
		    	 4.3
	    	Development Milestones	  	 	22	 
		    	 4.4
	    	Commercialization Milestones	  	 	23	 
		    	 4.5
	    	Royalties	  	 	23	 
			
	5.	    	 REPORTS AND PAYMENT TERMS
	  	 	24	 
				
		    	 5.1
	    	Payment Terms	  	 	24	 
		    	 5.2
	    	Payment Currency / Exchange Rate	  	 	25	 
		    	 5.3
	    	Taxes	  	 	25	 
		    	 5.4
	    	Records and Audit Rights	  	 	26	 
			
	6.	    	 INTELLECTUAL PROPERTY RIGHTS
	  	 	26	 
				
		    	 6.1
	    	Ownership	  	 	26	 
		    	 6.2
	    	Patent Prosecution and Maintenance	  	 	27	 
		    	 6.3
	    	Enforcement and Defense	  	 	28	 
			
	7.	    	 CONFIDENTIALITY
	  	 	30	 
				
		    	 7.1
	    	Duty of Confidence	  	 	30	 
		    	 7.2
	    	Exceptions	  	 	30	 
		    	 7.3
	    	Authorized Disclosures	  	 	30	 

  
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TABLE OF CONTENTS 
 (Continued)

  

									
	 	    	 	    	 	  	Page	 
			
	8.	    	 PUBLICITY
	  	 	31	 
				
		    	 8.1
	    	Publicity	  	 	31	 
		    	 8.2
	    	Clinical Trial Registries	  	 	32	 
			
	9.	    	 TERM AND TERMINATION
	  	 	32	 
				
		    	 9.1
	    	Term	  	 	32	 
		    	 9.2
	    	Termination	  	 	32	 
		    	 9.3
	    	Termination for Cause	  	 	33	 
		    	 9.4
	    	Termination for Insolvency	  	 	33	 
			
	10.	    	 EFFECTS OF TERMINATION
	  	 	33	 
				
		    	 10.1
	    	Termination of Agreement	  	 	33	 
		    	 10.2
	    	Survival	  	 	34	 
		    	 10.3
	    	Damages; Relief	  	 	34	 
		    	 10.4
	    	Bankruptcy Code	  	 	35	 
			
	11.	    	 REPRESENTATIONS AND WARRANTIES AND COVENANTS
	  	 	35	 
				
		    	 11.1
	    	Representations and Warranties by Each Party	  	 	35	 
		    	 11.2
	    	Representations, Warranties and Covenants by Zymeworks	  	 	36	 
		    	 11.3
	    	Representations, Warranties and Covenants by GSK	  	 	36	 
		    	 11.4
	    	No Other Warranties	  	 	36	 
			
	12.	    	 INDEMNIFICATION AND LIABILITY
	  	 	37	 
				
		    	 12.1
	    	Indemnification by Zymeworks	  	 	37	 
		    	 12.2
	    	Indemnification by GSK	  	 	37	 
		    	 12.3
	    	Indemnification Procedure	  	 	37	 
		    	 12.4
	    	Special, Indirect and Other Losses	  	 	38	 
		    	 12.5
	    	Insurance	  	 	38	 
			
	13.	    	 GENERAL PROVISIONS
	  	 	38	 
				
		    	 13.1
	    	Assignment	  	 	38	 
		    	 13.2
	    	Extension to Affiliates	  	 	39	 
		    	 13.3
	    	Severability	  	 	39	 
		    	 13.4
	    	Governing Law; English Language	  	 	39	 
		    	 13.5
	    	Dispute Resolution	  	 	39	 
		    	 13.6
	    	Force Majeure	  	 	41	 
		    	 13.7
	    	Waivers and Amendments	  	 	41	 
		    	 13.8
	    	Relationship of the Parties	  	 	41	 
		    	 13.9
	    	Notices	  	 	42	 
		    	 13.10
	    	Further Assurances	  	 	43	 
		    	 13.11
	    	Compliance with Law	  	 	43	 
		    	 13.12
	    	No Third Party Beneficiary Rights	  	 	43	 
		    	 13.13
	    	Entire Agreement	  	 	43	 
		    	 13.14
	    	Counterparts	  	 	43	 

  
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TABLE OF CONTENTS 
 (Continued)

  

									
	 	    	 	    	 	  	Page	 
				
		    	13.15	    	Expenses	  	 	43	 
		    	13.16	    	Binding Effect	  	 	43	 
		    	13.17	    	Construction	  	 	43	 
		    	13.18	    	Cumulative Remedies	  	 	44	 
		    	13.19	    	Export	  	 	44	 
		    	13.20	    	Ethical Standards	  	 	44	 
		    	13.21	    	 Anti-Corruption
	  	 	45	 

  
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 PLATFORM TECHNOLOGY TRANSFER AND LICENSE AGREEMENT 

THIS PLATFORM TECHNOLOGY TRANSFER AND LICENSE AGREEMENT (the “Agreement”), effective as of 21 April, 2016 (the
“Effective Date”), by and between GLAXOSMITHKLINE INTELLECTUAL PROPERTY DEVELOPMENT LIMITED, a corporation organized and existing under the laws of England and Wales, with its registered office located at 980 Great West Road,
Brentford, Middlesex, TW8 9GS, United Kingdom (“GSK”) and ZYMEWORKS INC., a corporation organized and existing under the laws of Canada, and extraprovincially in British Columbia, having an address at 540-1385 West 8th Avenue, Vancouver, BC, Canada V6H 3V9 (“Zymeworks”). Zymeworks and GSK are each referred to individually as a “Party” and together as the
“Parties”. 
 BACKGROUND 

GSK desires to obtain access to the Zymeworks Platform (as defined below) and certain licenses under the Zymeworks Intellectual Property (as defined below) to
research, develop and commercialize certain products comprising bi-specific antibodies created using the Zymeworks Platform, and Zymeworks is willing to grant such access and rights, all on the terms and
conditions as set forth below. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein below, the
sufficiency which is acknowledged by both Parties, the Parties agree as follows: 
 1. DEFINITIONS AND INTERPRETATIONS 

Whenever used in this Agreement with an initial capital letter, the terms defined in this Article 1 and elsewhere in this Agreement, whether
used in the singular or plural, shall have the meanings specified. 
 1.1 “Acquiring Entity” means a Third Party
that merges or consolidates with or acquires Zymeworks, or to which Zymeworks transfers all or substantially all of its assets to which this Agreement pertains. 

1.2 “Affiliate” means with respect to either Party, any Person controlling, controlled by or under common control with
such Party, for so long as such control exists. For purposes of this Section 1.2 only, “control” means (i) direct or indirect ownership of fifty percent (50%) or more of the stock or shares having the right to vote for the
election of directors of such corporate entity or (ii) the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of such entity, whether through the ownership of voting securities, by
contract or otherwise. 

  
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 1.3 “Annual Net Sales” means, with respect to a particular Product
and Calendar Year, all Net Sales of such Product throughout the Territory during such Calendar Year. 
 1.4
“Antibody” means any and all full-length antibodies, fragments thereof, and chemically modified versions thereof (including pegylated versions and regardless of whether containing amino acid substitutions), all
of the foregoing whether naturally occurring, artificially produced, raised in an artificial system, or created through modification of an antibody produced in any of the foregoing ways or otherwise, in each case made through the application of the
Zymeworks Platform. 
 1.5 “Applicable Laws” means all federal, state, local, national and supra-national laws,
statutes, rules and regulations, including any rules, regulations, guidelines or requirements of Regulatory Authorities, national securities exchanges or securities listing organizations that may be in effect from time to time during the Term and
applicable to a particular activity hereunder 
 1.6 “[...***...]” means any Antibody that contains independent
binding sites Directed To [...***...]. 
 1.7 “Bispecific Antibody” means any Antibody that contains
independent binding sites Directed To [...***...]. 
 1.8 “BLA” means a
“Biologics License Application” (as more fully defined in 21 U.S.C. §262(a)(2)(C), 21 C.F.R. 601.2(a), or their successor provisions) seeking Marketing Authorization of a Product and all amendments and supplements
thereto filed with the FDA with respect to a Product, or an equivalent application filed with a Regulatory Authority in a country other than the United States to market a biopharmaceutical product. 

1.9 “Bona Fide Collaborator(s)” means any Third Party collaborator who has entered into a written agreement with GSK
and/or any Affiliate of GSK, involving the research, development, manufacture and/or commercialization of one or more Antibodies, GSK Antibodies or Products. 

1.10 “Business Day” means any day other than a Saturday, Sunday or any other day on which commercial banks in New
York, New York, U.S.A or London, U.K. are authorized or required by Applicable Law to remain closed. 
 1.11 “Calendar
Quarter” means any respective period of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31 of any Calendar Year. 

1.12 “Calendar Year” means each successive period of twelve (12) months commencing on January 1 and ending
on December 31. 
 1.13 “[...***...]” means [...***...]. 

1.14 “Clinical Trial” means a Phase I Clinical Trial, Phase II Clinical Trial or Phase III Clinical Trial, or any
post-approval human clinical trial, as applicable. 

  
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 1.15 “Confidential Information” means all confidential and
proprietary, non public information, including Know-How, which is generated by or on behalf of a Party under this Agreement or which one Party or any of its Affiliates has provided or otherwise made available
to the other Party, whether made available orally, in writing, or in electronic form, including such Know-How comprising or relating to concepts, discoveries, Inventions, data, designs or formulae arising from
this Agreement. This Agreement and its Exhibits and amendments constitute Confidential Information of both of the Parties. 
 1.16
“Control” or “Controlled” means, with respect to any materials, Know-How or Intellectual Property right, that a Party (a) owns or (b) has a
license, to such material, Know-How, or Intellectual Property right and, in each case, has the legal right to grant to the other Party a license or sublicense to the same on the terms and conditions set forth
in this Agreement without violating any obligations of the granting Party to a Third Party or subjecting the granting Party to any additional fee or charge. Notwithstanding anything to the contrary in this Agreement, the following shall not be
deemed to be Controlled by Zymeworks: (i) any materials, Know-How or Intellectual Property right owned or licensed by any Acquiring Entity immediately prior to the effective date of the merger,
consolidation or transfer making such Third Party an Acquiring Entity, and (ii) any materials, Know-How or Intellectual Property right that any Acquiring Entity subsequently develops without accessing or
practicing any Zymeworks Intellectual Property. 
 1.17 “Cover”, “Covering”,
“Covered” or “Covers” means, with respect to a Patent Right in a particular country, that the manufacture, use, sale, offer for sale, or importation of a product or other material or practice of a claimed method
would in such country, but for the licenses granted herein, infringe such Patent Right. 
 1.18 “Directed To” means,
with regard to an Antibody, Sequence Pair, Product or product, that such respective Antibody, antibody generated and derived from such Sequence Pair, Product or product (a) binds directly to an identifiable Target, and (b) exerts its
primary diagnostic, prophylactic or therapeutic activity as a result of such direct binding to an identifiable Target or modifies the profile (e.g., PK, tissue penetration and distribution) of the antibody as a result of such direct binding,
in each of (a) and (b) above as determined based on reasonable experimental data or generally accepted scientific literature, in either case available at the time of completion of preclinical development of such Antibody, antibody,
Product or product. 
 1.19 “Disclosure Period” means the Nomination Period; provided that GSK may extend the
Disclosure Period by [...***...] period by providing Zymeworks with written notice of such extension not more than [...***...] and not less than [...***...] prior to the expiration of the Nomination Period; and provided further
that the Disclosure Period shall terminate sooner if [...***...] are commenced for [...***...] prior to the expiration of the Disclosure Period (or any extension thereof) (with such termination effective upon commencement of the
[...***...]). 
 1.20 “EU Major Markets” means the [...***...]. 

1.21 “FDA” means the United States Food and Drug Administration and any successor thereto. 

  
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 1.22 “Field” means diagnosis, prevention, palliation and
treatment of human or animal disease and disorders. 
 1.23 “First Commercial Sale” means, the first sale of a
Product in a given country or other regulatory jurisdiction in the Territory by or on behalf of GSK, its Affiliates or sublicensees to a Third Party, after receipt of Marketing Authorization (including Pricing Approval, to the extent required for
sale of Products in a given country or regulatory jurisdiction, and the completion of any necessary labeling negotiations with Regulatory Authorities that may be required after Marketing Authorization) for Products in such country or regulatory
jurisdiction. First Commercial Sale shall specifically exclude sales or transfers for clinical study purposes or compassionate use, named-patient, indigent patient or similar uses, if such uses do not result in monetary compensation to GSK above the
cost of goods. 
 1.24 “Governmental Authority” means any multinational, federal, state, local, municipal or other
governmental authority of any nature (including any governmental division, prefecture, subdivision, department, agency, bureau, branch, office, commission, council, court or other tribunal), in each case, having jurisdiction over the applicable
subject matter. 
 1.25 “GSK Antibody” means a [...***...], in each case that is derived and generated from a
GSK Sequence Pair, by or on behalf of GSK or its Affiliate or sublicensee, as permitted under this Agreement. 
 1.26 “GSK
Arising Improvement(s)” means any modification or technical advance of the Zymeworks Platform conceived or reduced to practice by or on behalf of GSK or its Affiliates or sublicensees described in Section 2.2 arising from the exercise
by GSK of the Licenses: (i) which is not otherwise a GSK Disclosed Improvement or an Other GSK Disclosed Improvement; and (ii) which for clarity, [...***...] (and which GSK may [...***...]. GSK Arising Improvement(s) shall
always exclude Zymeworks Improvements and Zymeworks Platform Improvements. 
 1.27 “GSK Disclosed
Improvement” means any modification or technical advance of the Zymeworks Platform conceived or reduced to practice by or on behalf of GSK or its Affiliates or sublicensees described in Section 2.2 comprising amino acid changes
or modifications to an Antibody that enable or improve the [...***...]. GSK Disclosed Improvements shall always exclude Zymeworks Improvements and Zymeworks Platform Improvements. 

1.28 “GSK Disclosed Improvement Patent” means a patent application filed by Zymeworks or its Affiliates
after the Effective Date, and any resulting Patent Rights, in each case to the extent such application or Patent Right Covers a GSK Disclosed Improvement. 

1.29 “GSK Patent Right” means any and all Patent Rights that are Controlled by GSK or its Affiliates as
of the Effective Date in respect of any GSK Antibody or Product, excluding the Zymeworks Patent Rights and any Patent Rights licensed to GSK by Zymeworks or its Affiliates pursuant to the Prior Agreement or any other agreement entered into following
the Effective Date between Zymeworks and GSK (or any Affiliate of Zymeworks and/or GSK). 

  
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 1.30 “GSK Sequence Pair” means a Sequence Pair that is
selected by, and available to, GSK pursuant to Section 3.4.3. 
 1.31 “[...***...]” means the [...***...]
more specifically referred to [...***...] as [...***...]. 
 1.32 “Invention” means any
inventions, discoveries or other Intellectual Property (including all Patent Rights, Know-How and other Intellectual Property rights therein) made by or under the express authority of the Parties (including by
GSK’s sublicensees and subcontractors) pursuant to the agreements described in Section 1.9), whether alone or jointly with the other Party, pursuant to this Agreement during the Term. 

1.33 “Intellectual Property” means Patent Rights, utility models, and other like forms of protection,
copyrights, rights in databases, trade names, trade or service marks (whether registered or unregistered), domain names, design rights (whether registered or unregistered), including all applications for registration for the foregoing and all other
similar proprietary rights as may exist anywhere in the world. 
 1.34 “Invoice” means any invoice submitted to GSK
by Zymeworks under this Agreement, produced in accordance with GSK’s processing requirements, as set forth in Exhibit 1.34. 

1.35 “Know-How” means any and all technical information, data, inventions,
discoveries, trade secrets, specifications, instructions, processes, formulae, methods, protocols, expertise and other technology applicable to formulations, compositions or products or to their manufacture, development, registration, use or
marketing or to methods of assaying or testing them, and all biological, chemical, pharmacological, biochemical, toxicological, pharmaceutical, physical and analytical, safety, quality control, manufacturing, preclinical and clinical data relevant
to any of the foregoing. For clarity Know-How excludes Patent Rights. 
 1.36
“Licenses” means the licenses expressly granted to GSK in Sections 2.1.1 and 2.1.2. 
 1.37 “Marketing
Authorization” means all approvals from the relevant Regulatory Authority necessary to initiate marketing and selling a pharmaceutical or biopharmaceutical product (including a Product) in any country. For clarity, unless [...***...]
in a particular country, Marketing Authorization shall not [...***...]. 
 1.38 “Net Sales” means gross
invoiced sales of the Products to Third Parties by GSK, its Affiliates, or their respective licensees or sublicensees (each, a “Selling Party”), in a particular period, less the following deductions which are actually incurred,
allowed, paid, accrued or specifically allocated with respect to such Products, to the extent that such amounts are deducted from gross invoiced sales amounts in calculating net sales as reported by Selling Party in its financial statements in
accordance with the International Financial Reporting Standards (“IFRS”), applied on a consistent basis: 
 1.38.1
[...***...]; 
 1.38.2 [...***...]; 

  
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 1.38.3 [...***...]; 

1.38.4 [...***...]; 

1.38.5 [...***...]; 

1.38.6 [...***...]; and 

1.38.7 any other items actually deducted from gross invoiced sales amounts as reported by GSK in its financial statements in accordance
with the IFRS, applied on a consistent basis. 
 For purposes of this definition, each Product would be considered “sold” and
“deductions” allowed by a Selling Party when recorded as invoiced in such Selling Party’s financial statements prepared in accordance with IFRS. 

1.39 “Nomination Period” means the period commencing on the Effective Date and ending [...***...] thereafter.

 1.40 “Other GSK Disclosed Improvement” shall have the meaning given to it in Section 6.1.3. 

1.41 “Patent Rights” means the rights and interests in and to issued patents and pending patent applications (which,
for purposes of this Agreement, include certificates of invention, applications for certificates of invention and priority rights) in any country or region, including all provisional applications, substitutions, continuations, continuations-in-part, continued prosecution applications including requests for continued examination, divisional applications and renewals, and all letters patent or
certificates of invention granted thereon, and all reissues, reexaminations, extensions (including pediatric exclusivity patent extensions), term restorations, patent term extensions, supplementary protection certificates, renewals, substitutions,
confirmations, registrations, revalidations, revisions and additions of or to any of the foregoing, in each case, in any country. 

1.42 “Person” means any individual, corporation, partnership, association, joint-stock company, trust, unincorporated
organization or government or political subdivision thereof. 
 1.43 “Phase I Clinical Trial” means a study in
humans which provides for the first introduction into humans of a product, conducted in healthy volunteers or patients to generate information on product safety, tolerability, pharmacological activity or pharmacokinetics, or otherwise consistent
with the requirements of U.S. 21 C.F.R. §312.21(a) or its foreign equivalents. 
 1.44 “Phase II Clinical
Trial” means a study in humans of the safety, dose ranging and efficacy of a product, which is prospectively designed to generate sufficient data (if successful) to commence a Phase III Clinical Trial or to file for accelerated approval, or
otherwise consistent with the requirements of U.S. 21 C.F.R. §312.21(b) or its foreign equivalents. 

  
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 1.45 “Phase III Clinical Trial” means a controlled study in humans of
the efficacy and safety of a product, which is prospectively designed to demonstrate statistically whether such product is effective and safe for use in a particular indication in a manner sufficient to file for Marketing Authorization, or otherwise
consistent with the requirements of U.S. 21 C.F.R. §312.21(c) or its foreign equivalents. 
 1.46 “Prior
Agreement” means that certain Collaboration Agreement by and between the Parties, dated December 1, 2015. 
 1.47
“Product” means any pharmaceutical or biopharmaceutical product that incorporates one (1) or more GSK Antibodies but no other Antibodies. For clarity, a Product (i) shall include one or more GSK Antibody(ies);
and (ii) may include another antibody that is not an Antibody. 
 1.48 “Pricing Approval” means any
governmental approval, agreement, determination or decision establishing prices for a Product that can be charged and/or reimbursed in regulatory jurisdictions where the applicable Governmental Authorities approve or determine the price and/or
reimbursement of pharmaceutical products and where such approval, agreement, determination or decision establishes prices for a Product. For clarity, GSK shall have no obligation to [...***...] if it does not [...***...] that
[...***...] to GSK in its sole discretion. 
 1.49 “Regulatory Authority” means the FDA or any counterpart of
the FDA outside the United States, or other national, supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity with authority over the distribution, importation, exportation,
manufacture, production, use, storage, transport, clinical testing or sale of a pharmaceutical product (including a Product), which may include the authority to grant the required reimbursement and Pricing Approvals for such sale. 

1.50 “Sequence” means an Antibody nucleic acid or amino acid sequence corresponding only to the
[...***...] that are Directed To [...***...]. 
 1.51 “Sequence Pair” means two (2) Sequences, each
of which is Directed To [...***...]. 
 1.52 “Target” means any [...***...] that an
Antibody may bind. 
 1.53 “Target Pair” means any two (2) Targets in combination. 

1.54 “Technical Dossier” means a technical dossier outlining [...***...]. 

1.55 “[...***...]” means an [...***...]. 

1.56 “Territory” means all of the countries and territories in the world. 

1.57 “Third Party” means any Person other than GSK or Zymeworks or an Affiliate of GSK or Zymeworks. 

  
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 1.58 “United States” or “US” means the United States
of America and its territories and possessions. 
 1.59 “USD” and “$” mean United States dollars.

 1.60 “Valid Claim” means any claim of an issued, in force and unexpired patent, or pending patent application
within the Zymeworks Patent Rights (excluding GSK Disclosed Improvement Patents) that: 
 1.60.1 has not been finally cancelled,
withdrawn, abandoned or rejected by any administrative agency or other body of competent jurisdiction and is not subject to further appeal, 

1.60.2 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, and 
 1.60.3 has not been rendered
unenforceable through disclaimer, abandonment, withdrawal, dedication to the public, allowing to lapse through non-payment of renewal fees or otherwise. 

A claim within a pending patent application that has been pending issuance for more than [...***...] from the date of filing of the earliest priority
patent application to which such pending patent application is entitled shall not be a Valid Claim, unless and until it issues. 

1.61 “Zymeworks Improvement(s)” means any modification or technical advance of the Zymeworks Platform, which (a): (i)
[...***...] or (ii) [...***...] or (ii) [...***...], in each case that are [...***...]. 
 1.62
“Zymeworks Intellectual Property” means the (a) Zymeworks Patent Rights, (b) the Zymeworks Know-How, (c) any Zymeworks Improvements that Zymeworks discloses to GSK and GSK
elects, in accordance with Section 3.2, to include in the Licenses, and (d) the Technical Dossier and [...***...]. 

1.63 “Zymeworks Know-How” means all
Know-How, which: (a) is Controlled by Zymeworks as of the Effective Date, (b) covers the Zymeworks Platform, and (c) is necessary for the research, development and (to the extent GSK Antibodies
are incorporated into Products) commercialization of Antibodies. 
 1.64 “Zymeworks Patent Rights” any and all
Patent Rights that are Controlled by Zymeworks or its Affiliates (a) as of the Effective Date that Cover the Zymeworks Platform, as set forth in Exhibit 1.64 or (b) that Cover any Zymeworks Improvement that Zymeworks discloses to GSK and
GSK elects, in accordance with Section 3.2, to include in the Licenses. 
 1.65 “Zymeworks Platform” means
Zymeworks’ proprietary AzymetricTM [...***...] technology platform, comprised of mutations which enable the efficient formation of [...***...], as described in the Technical Dossier. 

  
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 1.66 “Zymeworks Platform Improvements” means any and all
(a) Zymeworks Improvements, (b) GSK Disclosed Improvements, (c) any Know-How described in any Technical Dossier Update, and (d) all other modifications or technical advances of the
Zymeworks Platform made by or on behalf of Zymeworks or any Affiliate of Zymeworks. 
 1.67 Additional Definitions. In
addition, each of the following definitions shall have the respective meanings set forth in the section of this Agreement indicated below. 
  

			
	 Definition
	  	 Section/Exhibit

	Accounting Firm	  	5.4.2
	Agreement	  	Preamble
	Agreement Payments	  	5.3
	Background IP	  	6.1.1
	CDA	  	7.1
	Claims	  	12.1
	Code	  	10.4
	Commercialization Milestone Event	  	4.4
	Commercialization Milestone Payment	  	4.4
	Controlling Party	  	6.3.4
	Development Milestone Event	  	4.3
	Development Milestone Payment	  	4.3
	Dispute	  	13.5.1
	Effective Date	  	Preamble
	Excluded Claim	  	13.5.7
	 [...***...]
	  	3.4.1
	GSK	  	Preamble
	GSK Indemnified Party	  	12.1
	GSK Inventions	  	6.1
	IFRS	  	1.38
	Indemnified Party	  	12.3.1
	Indemnifying Party	  	12.3.1
	Infringement	  	6.3.1
	Losses	  	12.1
	Nomination Fee	  	4.2
	Parties	  	Preamble
	Party	  	Preamble
	prosecution	  	6.2.1
	Royalty	  	4.5.1
	Royalty Term	  	4.5.2
	Rules	  	13.5.3
	Selling Party	  	1.38
	Taxes	  	5.3
	Term	  	9.1.1
	Unavailable Target Pair	  	3.4.2(a)
	Zymeworks	  	Preamble

  
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	 Definition
	  	 Section/Exhibit

	Zymeworks Indemnified Party	  	12.2
	Zymeworks Inventions	  	6.1

 1.68 Interpretation. The captions and headings to this Agreement are for convenience
only, and are to be of no force or effect in construing or interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Articles, Sections or Exhibits mean the particular Articles, Sections or Exhibits
to this Agreement and references to this Agreement include all Exhibits hereto. In the event of any conflict between the main body of this Agreement and any Exhibit hereto, the main body of this Agreement shall prevail. Unless context otherwise
clearly requires, whenever used in this Agreement: (a) the words “include” or “including” shall be construed as incorporating, also, “but not limited to” or “without limitation;” (b) the word
“day” or “year” means a calendar day or year unless otherwise specified; (c) the word “notice” shall mean notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and
other written communications contemplated under this Agreement; (d) the words “hereof,” “herein,” “hereby” and derivative or similar words refer to this Agreement as a whole and not merely to the particular
provision in which such words appear; (e) the words “shall” and “will” have interchangeable meanings for purposes of this Agreement; (f) the word “or” shall have the inclusive meaning commonly associated with
“and/or”; (g) provisions that require that a Party, the Parties or a committee hereunder “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in
writing, whether by written agreement, letter, approved minutes or otherwise; (h) words of any gender include the other gender; (i) words using the singular or plural number also include the plural or singular number, respectively;
(j) references to any specific law, rule or regulation, or article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement law, rule or regulation thereof; and (k) neither Party
shall be deemed to be acting on behalf of the other Party. 
 2. GRANT OF LICENSES 

2.1 Licenses to GSK. Subject to the terms and conditions of this Agreement, 

2.1.1 Research and Development License. Subject to the terms and conditions of this Agreement, during the Nomination Period,
Zymeworks hereby grants to GSK a non-exclusive, worldwide, fully paid-up, license, including the right to sublicense to Affiliates of GSK and any Third Parties (in
accordance with Section 2.2), under the Zymeworks Intellectual Property solely for GSK in accordance with this Section 2.1.1, to use the Zymeworks Platform to conduct pre-clinical research and
development of Antibodies, including to [...***...] such Antibodies. Subject to the terms and conditions of this Agreement, [...***...] pursuant under the foregoing license in this Section 2.1.1. Notwithstanding anything herein to
the contrary, the license set forth in this Section 2.1.1 shall not include the right to conduct Clinical Trials of any Antibody or Product. 

2.1.2 Commercial License. Subject to the terms and conditions of this Agreement, during the Term, Zymeworks hereby grants to GSK
an exclusive, worldwide, 

  
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 royalty-bearing, sublicensable to Affiliates of GSK and any Third Parties (in accordance with
Section 2.2) and transferable (solely in connection with a permitted assignment of this Agreement in accordance with Section 13.1) license under the Zymeworks Intellectual Property to (a) further research and develop, make, have made,
import and export GSK Antibodies intended for incorporation into Products, (b) research, develop, make, have made, use, sell, offer to sell, import and export Products in the Field in the Territory. For clarity, GSK would have the right to use
the Zymeworks Platform solely for purposes of researching and developing GSK Antibodies to be incorporated in any Product; and researching, developing and commercializing such Products, in each case in accordance with the Licenses and this
Agreement.
 2.2 Sublicenses. 

2.2.1 The licenses granted to GSK in Section 2.1.1 and 2.1.2 include the right to grant sublicenses to its Affiliates and any
Third Parties as required as noted thereunder, provided that: (i) GSK may not grant any sublicenses under Section 2.1.1 or 2.1.2 , to [...***...]; (ii) GSK will not [...***...]; and (iii) each sublicense granted by GSK
shall be consistent with the terms and conditions of this Agreement. GSK shall provide Zymeworks with prompt notice of any such sublicense to any Third Party that it grants other than to the extent that GSK is prevented, pursuant to terms of
agreement entered into between GSK and its Third Party (each, a “GSK Bona Fide Collaboration Agreement”), from disclosing the identity of such Third Party or the nature of the collaboration between GSK and such Third Party. In such
event, GSK shall provide to Zymeworks all such reasonable information requested by Zymeworks which GSK is permitted to disclose to Zymeworks pursuant to the GSK Bona Fide Collaboration Agreement provided that in no circumstance would GSK be required
to provide information that it reasonably believes would disclose the nature of the relationship or the existence of any relationship between GSK and its Third Parties if the disclosure of such information to Zymeworks is prohibited under the GSK
Bona Fide Collaboration Agreement. Notwithstanding anything herein to the contrary, GSK shall disclose to Zymeworks the identity of any Third Party sublicensee who has been granted rights or a sublicense by GSK pursuant to this Section 2.2.1,
in connection with any clinical development or commercialization of a GSK Antibody or Product. 
 2.2.2 GSK shall remain responsible
for the performance of its Affiliates and sublicensees under this Agreement and shall cause all such Affiliates and sublicensees to comply with the provisions of this Agreement in connection with such performance, including the provisions regarding
confidentiality and non-use and ownership of Inventions. 
 2.3 No Implied Licenses.
Except as expressly set forth in this Agreement, neither Party, by virtue of this Agreement, shall acquire any license or other interest, by implication or otherwise, in any materials, Know-How, Patent
Rights or other Intellectual Property rights Controlled by the other Party or its Affiliates. Subject to the Licenses expressly granted to GSK hereunder and the other terms and conditions of this Agreement, as between the Parties, Zymeworks
shall retain all rights, title and interest in and to the Zymeworks Platform and the Zymeworks Intellectual Property. 

  
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 2.4 Prior Agreement. For so long as, and solely to the extent that, GSK has
rights, pursuant to the Prior Agreement, to develop, manufacture and commercialize GSK Multi-Specific Products incorporating Zymeworks Modifications or Zymeworks Modified Scaffolds (each, as defined under the Prior Agreement), which products
comprise Antibodies generated and derived from a GSK Sequence Pair selected in accordance with this Agreement, the License granted to GSK pursuant to Section 2.1.2 shall include (a) the right to incorporate such Zymeworks Modifications or
Zymeworks Modified Scaffolds into Products comprising GSK Antibodies that are derived and generated from such GSK Sequence Pair pursuant to this Agreement and (b) a license under the Zymeworks Project Arising IP (as defined under the Prior
Agreement) solely to the extent necessary to incorporate such Zymeworks Modifications or Zymeworks Modified Scaffolds into Products comprising GSK Antibodies that are derived and generated from such GSK Sequence Pair pursuant to this Agreement;
provided that such license shall be [...***...] with respect to [...***...]. Products developed, manufactured or commercialized by or on behalf of GSK, its Affiliates or sublicensees in accordance with this Section 2.4, which
incorporate the Zymeworks Modifications or Zymeworks Modified Scaffolds, shall be subject to the terms and conditions of this Agreement and the Prior Agreement, including the payment obligations under each agreement. Each such Product shall
[...***...] that GSK is permitted to develop or commercialize under the Prior Agreement; and, as between the Parties, Zymeworks shall own and retain all rights, title and interest in and to the Zymeworks Modifications and Zymeworks Modified
Scaffolds and all improvements thereto. For clarity, upon expiration or termination of GSK’s rights to such Zymeworks Modifications or Zymeworks Modified Scaffolds under the Prior Agreement, GSK’s rights described in this Section 2.4
shall terminate. 
 2.5 Performance by Subcontractors. GSK may perform, by way of subcontract, some or all of its
obligations or exercise some or all of its rights under this Agreement through any one or more Third Parties; provided, however, that GSK shall remain responsible for the performance of such obligations or exercise of such rights by such Third
Parties and shall cause all such subcontractors to comply with the provisions of this Agreement in connection with such performance, including the provisions regarding confidentiality and non-use and ownership
of Inventions; and provided further that (i) GSK may not enter into a subcontract with any Third Party to [...***...]; (ii) GSK will not [...***...] and (iii) each subcontract entered into by GSK with any Third Party shall be
consistent with the terms and conditions of this Agreement. 
 3. TECHNOLOGY TRANSFER, TARGET SELECTION AND DEVELOPMENT AND
COMMERCIALIZATION OF PRODUCTS 
 3.1 Technology Transfer. 

3.1.1 [...***...] days after the Effective Date, Zymeworks shall provide GSK with an electronic copy of the Technical Dossier.
For clarity, the content of the Technical Dossier is limited to that described on Exhibit 1.54. 
 3.1.2 During the Nomination
Period, Zymeworks shall provide GSK with technical support, information and assistance as GSK reasonably requests, in each case solely with respect to the application of the Zymeworks Platform as is necessary to enable GSK to 

  
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 exercise the Licenses and to streamline the engineering and production process for GSK Antibodies. 

3.1.3 Zymeworks shall provide [...***...] to GSK in accordance with Section 3.2.3 and in any event, no less frequently than
[...***...] during the Disclosure Period. 
 3.2 Improvements. In the event that Zymeworks Improvements
arise, all Zymeworks Improvements shall be offered to GSK [...***...] other than as set forth in Article 4, as follows: 

3.2.1 Zymeworks shall summarize such Zymeworks Improvements in writing to GSK in such limited detail as is appropriate for non-confidential disclosures of inventions. Zymeworks shall not be obligated to make such disclosures more frequently than [...***...]. 

3.2.2 If GSK wishes to learn further, more detailed, information relating to Zymeworks Improvements disclosed by Zymeworks pursuant to
Section 3.2.1 in order to assess whether GSK desires to include such Zymeworks Improvements in the Licenses, GSK shall request such information from Zymeworks in writing. After receipt of such request, Zymeworks shall provide GSK such further
information as may be reasonably requested by GSK in order to make such assessment with respect to the applicable Zymeworks Improvements as to whether to include it in the Licenses; provided that Zymeworks may require GSK to execute a
confidentiality agreement covering such disclosure and limiting GSK’s use and disclosure of such information to that reasonably which is necessary for purposes of such assessment. 

3.2.3 Within [...***...] days of receiving detailed information from Zymeworks regarding a Zymeworks Improvement, pursuant to
Section 3.2.2, GSK shall provide Zymeworks with written notice as to whether it wishes to include such Zymeworks Improvement in the Licenses, which shall be [...***...] other than as set forth in Article 4. If GSK provides Zymeworks with
written notice within such period that it does desire to include a Zymeworks Improvement in the Licenses, such Zymeworks Improvement (and any Patent Rights Covering such Zymeworks Improvement that are Controlled by Zymeworks) shall, in each instance
automatically become part of the Zymeworks Intellectual Property which shall be licensed to GSK under the Licenses. Zymeworks shall then, as soon as reasonably practicable, update and disclose to GSK the then current [...***...] which contains
such relevant update disclosing such Zymeworks Improvement in such reasonable detail to enable GSK to practice such Zymeworks Improvement independently of Zymeworks. If GSK provides Zymeworks with written notice that it does not desire to include a
Zymeworks Improvement in the Licenses, or fails to provide Zymeworks with written notice as to whether it wishes to include such Zymeworks Improvement in the Licenses within the applicable [...***...] period, such Zymeworks Improvement (and
Patent Rights Covering such Zymeworks Improvement) shall then not be included in the Licenses or (for purposes of this Agreement) the Zymeworks Intellectual Property, and GSK shall cease all use of such Zymeworks Improvement, or any relevant part of
any such Zymeworks Improvement, for so long as such Zymeworks Improvement or any relevant part of any such Zymeworks Improvement is the Confidential Information of Zymeworks. 

  
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 3.3 Records and Inspections. 

3.3.1 Records. GSK shall maintain records, for so long as reasonably necessary to comply with Applicable Laws or
reasonably necessary to support the prosecution, maintenance and enforcement of Intellectual Property rights (including Patent Rights) in accordance with Article 6 below, regarding its exercise of the Licenses and performance under this Agreement,
in sufficient detail and in good scientific manner appropriate for patent and regulatory purposes, which records shall completely and accurately reflect the work done and results achieved by GSK in its exercise of the Licenses and its performance
under this Agreement. 
 3.3.2 Copies and Inspection of Records. During the period that such records are required to be
maintained pursuant to Section 3.3.1, Zymeworks shall have the right to request copies of such records referred to in Section 3.3.1, which request shall be fulfilled by GSK, where it is reasonably necessary for Zymeworks to exercise its
rights or fulfil its obligations under this Agreement, or to confirm compliance by GSK with Section 3.3.1. 
 3.4
[...***...] and GSK Sequence Pair Selection. Following the Effective Date and from time to time during the Nomination Period, GSK shall have the right to submit any number of Target Pairs of interest to GSK [...***...] to
enable GSK to decide whether to nominate Sequence Pairs Directed To such Target Pairs as potential GSK Sequence Pairs; [...***...] by or on behalf of GSK shall not occur so frequently in any given calendar month so as to be unduly burdensome
[...***...]. GSK shall not be granted any rights or exclusivities with respect to any Target Pairs that it submits [...***...]. GSK shall, subject to Section 3.4.4, have the right to select up to six (6) Sequence Pairs to be
GSK Sequence Pairs in accordance with this Section 3.4, and the Licenses under Section 2.1.2 shall be granted to GSK solely with respect to such GSK Sequence Pairs, GSK Antibodies generated and derived from such GSK Sequence Pairs and
Products incorporating such GSK Antibodies. 
 3.4.1 [...***...]. 

(a) Within [...***...] after the Effective Date or such longer period as is reasonably necessary, the Parties shall
[...***...] with respect to GSK’s Target Pairs of interest and GSK Sequence Pairs hereunder (the “[...***...]”). Zymeworks and GSK shall then [...***...]. Such [...***...] shall set forth, among other things,
the [...***...] with respect to the evaluation of Target Pairs and the selection of Sequence Pairs. If, for whatever reason, the Parties are unable to [...***...], the Parties shall, as soon as reasonably practicable, [...***...]
in accordance with the aforementioned in this Section 3.4.1(a). Such [...***...] shall then be the “[...***...]” for the purposes of this Agreement. [...***...]. 

(b) Zymeworks shall have the right, no more frequently than [...***...], to [...***...], in writing, reasonable details of
[...***...], which is under [...***...] by GSK or its Affiliates, to confirm that GSK or such Affiliate is [...***...] in the [...***...] of any such antibody that is not covered by the license granted under
Section 2.1.2. Zymeworks shall not have the aforementioned right in the preceding sentence to make such request [...***...] GSK shall, as soon as reasonably practicable, comply with each such request [...***...] by providing such
information or documentation [...***...]. All such information and documentation of GSK or its Affiliates 

  
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 disclosed [...***...] shall be the Confidential Information of GSK except to the extent
necessary to convey [...***...]. 
 3.4.2 Target [...***...]. 

(a) GSK Targets. Each Target Pair of interest submitted by GSK [...***...] as set forth below in this Section 3.4.2,
and [...***...] whether such Target Pair is an Unavailable Target Pair as soon as reasonably practicable but in no event later than [...***...] following GSK’s submission of the relevant information regarding such Target Pair. A
Target Pair submitted by GSK in accordance with this Section 3.4.2(a) shall only be an “Unavailable Target Pair” if such Target Pair [...***...] or, at the time GSK submits such Target Pair [...***...], Zymeworks is:

 (i) demonstrably contractually obligated to grant pursuant to clearly identifiable and certain rights granted to a Third Party prior to
the Effective Date, or has actually granted prior to the Effective Date, to a Third Party exclusive rights with respect to any products Directed To [...***...] in such Target Pair; or 

(ii) subject to Section 3.4.2(c), actively and in good faith engaged in bona fide negotiations with a Third Party regarding the grant of
exclusive rights to the Zymeworks Platform for the development or commercialization of any products Directed To such Target Pair (as may be evidenced, among other things by [...***...]). 

(b) Identity of Target Pairs. For clarity, [...***...] when providing notice of availability pursuant to this
Section 3.4.2 and shall [...***...] pursuant to this Section 3.4.2. 
 (c) [...***...]. During the
[...***...] period immediately following the Effective Date, Zymeworks shall not [...***...]. For clarity, the foregoing restriction shall expire on the [...***...]. 

3.4.3 Sequence Pair [...***...]. 

(a) Sequence Pair Designation. GSK may, during the Nomination Period, nominate Sequence Pairs that are Directed To any
available Target Pair, as potential GSK Sequence Pairs by submitting such Sequence Pair [...***...] in accordance with this Section 3.4.3. In each case, such Target Pair must be determined not to be an Unavailable Target Pair
[...***...] pursuant to Section 3.4.2 immediately prior to Sequence Pairs Directed To such Target Pair being submitted [...***...] for Sequence Pair level [...***...]pursuant to this Section 3.4.3. Each Sequence Pair so
nominated by GSK shall be subject to [...***...] as set forth below in this Section 3.4.3, and if such nominated Sequence Pair is not an Unavailable Sequence Pair in accordance with such [...***...] it shall automatically become a
“GSK Sequence Pair” and shall be automatically deemed within the scope of the commercial license set forth in Section 2.1.2 from the date upon which GSK is notified of such GSK Sequence Pair in accordance with Section 3.4.3(b);
provided that GSK shall be limited to six (6) GSK Sequence Pairs. Subject to any substitutions made in accordance with Section 3.4.4 and termination in accordance with Article 9, the license set forth in Section 2.1.2 shall apply
solely with respect to the GSK Antibodies derived and generated from the six (6) GSK Sequence Pairs selected in accordance 

  
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 with this Section 3.4.3 and Products comprising such GSK Antibodies. A Sequence Pair that is designated
by GSK in accordance with this Section 3.4.3 shall only be an “Unavailable Sequence Pair” if, at the time [...***...], Zymeworks: 

(i) is contractually obligated to grant pursuant to clearly identifiable and certain rights granted to a Third Party, or has actually
granted, to a Third Party rights with respect to any products incorporating antibodies derived or generated from such Sequence Pair, or exclusive rights with respect to products incorporating Antibodies Directed To the Target Pair To which such
Sequence Pair is Directed; 
 (ii) is actively and in good faith engaged in bona fide negotiations with a Third Party regarding the
development or commercialization of any products incorporating antibodies derived or generated from such Sequence Pair (as may be evidenced, among other things, by [...***...]); or 

(iii) is actively performing activities on its own behalf regarding the development or commercialization of any products incorporating
antibodies derived or generated from such Sequence Pair, which activities include, or have included, [...***...] with respect to products incorporating antibodies derived or generated from such Sequence Pair. 

(b) Notice of Availability. As soon as reasonably practicable but in any event within [...***...] Business Days of
[...***...] written notice with respect to each Sequence Pair that GSK nominates under this Section 3.4.3, [...***...] with written notice if such proposed Sequence Pair is available as a GSK Sequence Pair or is an Unavailable
Sequence Pair for any of the reasons set forth in Section 3.4.3(a) above, and the basis for any such unavailability. For clarity, [...***...]. Notwithstanding the foregoing, GSK shall [...***...]. In the event that GSK does not
[...***...] in accordance with the foregoing sentence, Zymeworks shall, without limiting any other rights or remedies available to it, have the right to [...***...]. 

3.4.4 Substitution of Sequence Pairs. GSK would have the right to substitute, on a GSK Sequence
Pair-by-GSK Sequence Pair basis, any GSK Sequence Pair previously selected by GSK in accordance with Section 3.4.3 for any alternative Sequence Pair which has been
confirmed as available by [...***...] at the time of such substitution. Such alternative Sequence Pair confirmed as available [...***...] shall then replace the original GSK Sequence Pair which GSK had selected for substitution. Such
substitution(s) may be made at any time during the Nomination Period [...***...]; provided that the number of GSK Sequence Pairs would not, in any event, exceed the total number of six (6) Sequence Pairs at any one time during the
Nomination Period. For clarity, GSK would have the right to substitute on a GSK Sequence Pair-by-GSK Sequence Pair basis any existing GSK Sequence Pair, from time to
time during the Nomination Period, even when fewer than six (6) GSK Sequence Pairs have been previously selected. Upon the expiration of the Nomination Period, the GSK Sequence Pairs shall remain fixed for the remainder of the Term, and GSK
shall no longer have the right to substitute Sequence Pairs. 
 3.4.5 Nomination Timing. Notwithstanding anything herein to
the contrary, all Sequence Pairs nominated by GSK must be nominated prior to the commencement, by or on behalf of GSK, of [...***...] of products incorporating Antibodies derived or generated from such 

  
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 Sequence Pair. For clarity, GSK shall have no rights under the commercial license set forth in
Section 2.1.2 with respect to any Sequence Pair that is not so nominated and confirmed as a GSK Sequence Pair prior to the [...***...] of a product incorporating Antibodies derived or generated from such Sequence Pair, and Zymeworks shall
not be obligated to grant GSK rights to licenses with respect to any such Sequence Pair after the [...***...] of a such a product. 

3.5 Development and Commercialization of GSK Products. GSK (itself or through its Affiliates or Third Parties) shall have the
exclusive right (even as to Zymeworks and its Affiliates) to further research, develop, manufacture and commercialize Products. GSK shall provide Zymeworks with written reports summarizing the then-current development and commercialization status of
each GSK Antibody and Product in such detail as is reasonably necessary for Zymeworks to estimate timing for the Development Milestones Payments in Section 4.3 and the [...***...], on an annual basis. 

3.6 Transfers of Materials. In the event that the Parties mutually agree that a transfer of any biopharmaceutical, biological,
chemical or other material (“Material(s)”) from Zymeworks or GSK respectively (the “Transferor”) to GSK or Zymeworks respectively (the “Transferee”) is necessary or desirable to facilitate the
Parties’ activities pursuant to this Agreement (including, in connection with GSK deciding to include a Zymeworks Improvement within the Licenses or otherwise in connection with any right of Zymeworks or GSK in connection with this Agreement or
to be agreed in connection with this Agreement), the Parties shall document such transfer using the material transfer record form set out in Exhibit 3.6 (the “Material Transfer Record Form”) and the Transferor shall effect such
transfer in accordance with the following provisions: 
 (i) The Transferor shall complete and submit to the Transferee for
counter-signature (and the Transferee shall counter-sign), the Material Transfer Record Form prior to the transfer of the Material. 
 (ii)
The Transferor warrants that it has the full right and authority to transfer the Materials to the Transferee for use within the scope agreed by the Parties in writing in the Material Transfer Record Form. 

(iii) The Material and related information provided by Transferor shall remain the property of Transferor or remain under the control of
Transferor and shall be kept securely by Transferee and shall not be provided by Transferee, without the prior written consent of Transferor, to any Third Party, other than any Third Party appointed by the Transferee and set forth in the Material
Transfer Record Form. 
 (iv) The Transferee shall only use the Material for the purpose of the performing the activities agreed to by the
Parties in writing in the Material Transfer Record Form and shall only use the Material in accordance with all Applicable Laws. 
 (v) The
Transferee shall not use the Material in any human subjects. 

  
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 (vi) The Transferee acknowledges that the Material is experimental in nature and provided
“as is” and that the Transferor makes no representation or extends no warranty of any kind with respect to the Material and hereby disclaims all warranties, either express or implied, including, but not limited to, any warranty of
merchantability, fitness for a particular purpose or that their use does not or shall not infringe any patent rights of Third Parties. 

(vii) The Transferee shall use the Material at its own risk and in accordance with Applicable Laws and any safety instructions provided by the
Transferor. 
 (viii) The Transferee shall, at the election and direction of the Transferor following completion of the purpose for which
the Material was transferred, destroy or return the Material. 
 (ix) Ownership of all Materials transferred in accordance with this
Section 3.6 shall be retained by the Transferor. 
 4. FINANCIAL PROVISIONS 

4.1 Upfront Payment. In partial consideration of the Licenses, GSK shall pay to Zymeworks an upfront, non-refundable, technology access fee of Six Million U.S. Dollars ($6,000,000) within ten (10) days of the Effective Date. 

4.2 Sequence Pair Nomination Right Exercise Fee Payments. In partial consideration of the Licenses, GSK shall pay Zymeworks a
fee equal to [...***...] U.S. Dollars ($[...***...]) (“Nomination Fee”) per GSK Sequence Pair in accordance with Section 5.1.1 upon [...***...]. 

4.3 Development Milestones. In partial consideration of the Licenses, following the [...***...] of each milestone event
set forth in the table below for each applicable Product (each, a “Development Milestone Event”), GSK shall make the corresponding non-refundable milestone payment to Zymeworks (each, a
“Development Milestone Payment”) in accordance with Section 5.1.2. For clarity, each Development Milestone Payment set forth in the column entitled, “Development Milestone Payment Product 1” shall be payable
[...***...], and each Development Milestone Payment set forth in the column entitled “Development Milestone Payment for Subsequent Products” shall be payable [...***...]. 

 

									
	 Development Milestone Event
	  	Development
Milestone Payment
Product 1	 	  	Development
Milestone Payment
for Subsequent
Products	 
	 [...***...]
	  	$	[...***...	] 	  	$	[...***...	] 

  
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	 [...***...]
	  	$	[...***...	] 	  	$	[...***...	] 
	 [...***...]
	  	$	[...***...	] 	  	$	[...***...	] 

 4.4 Commercialization Milestones. In partial consideration of the Licenses, following the
[...***...] of each milestone event set forth in the table below for each Product (each, a “Commercialization Milestone Event”), GSK shall make the corresponding non-refundable
milestone payment to Zymeworks (each, a “Commercialization Milestone Payment”) in accordance with Section 5.1.2: 
  

					
	 Commercialization Milestone Event
	  	Commercialization
Milestone Payment	 
	 [...***...]
	  	$	[...***...	] 
	 [...***...]
	  	$	[...***...	] 
	 [...***...]
	  	$	[...***...	] 
	 [...***...]
	  	$	[...***...	] 
	 [...***...]
	  	$	[...***...	] 
	 [...***...]
	  	$	[...***...	] 
	 [...***...]
	  	$	[...***...	] 

 For clarity, each of the foregoing Commercialization Milestone Payments shall [...***...] for each
Product. 
 4.5 Royalties. 

4.5.1 Patent Royalty Payments. On a [...***...], GSK shall pay Zymeworks a royalty (the “Royalty”) on Net Sales
of each Product at the rates set forth below: 
  

					
	 Annual Net Sales on a Product-by-Product basis
	  	Royalty Rate (as a
percentage of Net
Sales)	 
	 $[...***...] up to $[...***...]
	  	 	[...***...]	% 

  
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	 Annual Net Sales on a Product-by-Product basis
	  	Royalty Rate (as a
percentage of Net
Sales)	 
	 Above $[...***...] to $[...***...]
	  	 	[...***...]	% 
	 Above $[...***...]
	  	 	[...***...]	% 

 4.5.2 Royalty Term. The Royalty shall be payable, on a Product-by-Product and country-by-country basis, from First Commercial Sale of such Product in such country until (i) such
Product is no longer Covered by a Valid Claim in such country or (ii) ten (10) years after the First Commercial Sale of such Product in such country, whichever is later (the “Royalty Term”). Upon the expiration of the last
Valid Claim that Covers a Product in a country, the Royalties set forth above with respect to such Product in such country shall continue as a royalty paid in consideration for the value of the rights and licenses granted hereunder to GSK with
respect to the Know-How within the Zymeworks Intellectual Property, but shall be reduced by [...***...]percent ([...***...]%) for the remainder of the Royalty Term. Notwithstanding anything herein
to the contrary, in no event shall the Royalties owed during the Royalty Term be reduced by more than [...***...]([...***...]%) from the percentages set forth above (i.e., to [...***...]%, [...***...]%, and
[...***...]%, respectively), regardless of whether multiple reductions set forth in this Agreement apply. 
 4.5.3
Anti-Stacking. GSK would be entitled to credit against the royalties owed by GSK to Zymeworks pursuant to this Section 4.5 up to [...***...]percent ([...***...]%) of any royalties paid by GSK to Third Parties on sales of
Products in consideration for licenses under Patent Rights Covering the Zymeworks Platform for purposes of manufacturing or commercializing such Product; provided that such credit shall be subject to the limitation set forth in the last sentence of
Section 4.5.2. 
 4.5.4 Royalty Buy-Down. At any time prior to the initiation of
the first Phase III Clinical Trial of a Product by or on behalf of GSK, GSK shall have the right, at its sole discretion, to buy down the royalty percentages set forth in Section 4.5.1, solely with respect to such Product, from
[...***...]%, [...***...]% and [...***...]%, respectively, to a floor of [...***...]%, [...***...]% and [...***...]% by making a one-time payment of Ten Million U.S. Dollars
($10,000,000) for such Product. 
 5. REPORTS AND PAYMENT TERMS 

5.1 Payment Terms. 

5.1.1 Sequence Pair Nomination Right Exercise Fee Payments. Upon Zymeworks’ [...***...] that a Sequence Pair is
available to be a GSK Sequence Pair, Zymeworks shall issue an Invoice to GSK for the corresponding Nomination Fee. Each Nomination Fee shall be paid by GSK on [...***...]. 

  
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 5.1.2 Milestone Payments. GSK shall notify Zymeworks in writing of the
achievement of a Development Milestone Event or Commercialization Milestone Event within [...***...] days of its achievement, and Zymeworks shall issue an Invoice to GSK for the corresponding Development Milestone Payment or Commercial
Milestone Payment. Each Milestone Payment shall be made by GSK on [...***...]. 
 5.1.3 Royalties. During the Term,
following the First Commercial Sale of a Product, GSK shall furnish to Zymeworks a written report for each Calendar Quarter showing the Net Sales by Product sold during such Calendar Quarter and the Royalties payable under this Agreement on a Product-by-Product basis, and the Royalties (in US dollars) payable in total for all Products in accordance with Section 4.5, in each case in reasonable detail to allow
Zymeworks to verify that the amount of Royalties paid by GSK with respect to such Calendar Quarter is correct. Reports shall be due no later than [...***...]. Royalties shown to have accrued by each report provided under this
Section 5.1.3 shall be due and payable on the date such report is due. 
 5.2 Payment Currency / Exchange Rate /
Interest. All payments to be made by GSK to Zymeworks under this Agreement shall be made in USD. Payments to Zymeworks shall be made by electronic wire transfer of immediately available funds to the account of Zymeworks, as designated in
writing to GSK. If any currency conversion is required in connection with the calculation of amounts payable hereunder, such conversion shall be made in a manner consistent with GSK’s normal practices used to prepare its audited financial
statements for external reporting purposes; provided that such practices use a widely accepted source of published exchange rates. If GSK shall fail to make a timely payment pursuant to this Agreement, any such payment shall bear interest at the
average one-month London Inter-Bank Offering Rate (LIBOR) as reported on the day such payment was due in The Wall Street Journal (U.S. Internet version at www.wsj.com under the “Market
Data” tab), plus three percent (3%) annually. 
 5.3 Taxes. Each Party shall be responsible for its own tax liabilities
arising under this Agreement. Subject to this Section 5.3, Zymeworks shall be liable for all income and other taxes (including interest) (“Taxes”) imposed upon Zymeworks with respect to any payments made by GSK to Zymeworks
under this Agreement (“Agreement Payments”). If Applicable Laws require the withholding of Taxes from an Agreement Payment, GSK shall make such withholding payments in a timely manner and shall subtract the amount thereof from such
Agreement Payment. GSK shall promptly (as available) submit to Zymeworks appropriate proof of payment of the withheld Taxes as well as the official receipts within a reasonable period of time. GSK shall provide Zymeworks reasonable assistance
in order to allow Zymeworks to obtain the benefit of any present or future treaty against double taxation or refund or reduction in Taxes which may apply to the Agreement Payments. Notwithstanding the foregoing, if as a result of a Party assigning
this Agreement or changing its domicile additional Taxes become due that would not have otherwise been due hereunder with respect to Agreement Payments, such assigning Party shall be responsible for all such additional Taxes. 

  
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 5.4 Records and Audit Rights. 

5.4.1 Records. GSK shall keep (and shall cause each Selling Party to keep) complete, true and accurate books and records in
sufficient detail for Zymeworks to determine payments due to Zymeworks under this Agreement, including Development Milestones, Commercial Milestones, and Royalties. GSK shall keep (and shall cause each Selling Party to keep) such books and records
for at least [...***...] following the end of the Calendar Year to which they pertain. 
 5.4.2 Audit Rights. Zymeworks
shall have the right during the [...***...] period described in Section 5.4.1 to appoint at its expense an independent certified public accountant of nationally recognized standing (the “Accounting Firm”) to inspect or
audit the relevant records of GSK and each Selling Party to verify that the amount of such payments were correctly determined. GSK shall make, and shall cause each Selling Party to make, their respective records available for inspection or audit by
the Accounting Firm during regular business hours at such place or places where such records are customarily kept, upon at least[...***...] notice from Zymeworks, solely to verify the payments hereunder were correctly determined. Such
inspection or audit right shall not be exercised by Zymeworks more than once in any Calendar Year. All records made available for inspection or audit shall be deemed to be Confidential Information of GSK. The results of each inspection or audit, if
any, shall be binding on both Parties. Zymeworks shall bear full cost of any audit conducted unless the audit reveals an error of greater than [...***...] percent ([...***...]%), in which case GSK will pay. If the Accounting Firm
determines through such audit or inspection that additional royalties are payable then such amounts (together with interest as required in Section 5.2) shall be paid by GSK within [...***...]; and if the Accounting Firm determines through
such audit or inspection excess royalties are refundable then such amount will be deducted from future royalty payments or refunded by GSK to Zymeworks within [...***...] of receipt of the results of such inspection or audit, whichever is
sooner. 
 6. INTELLECTUAL PROPERTY RIGHTS 

6.1 Ownership. 

6.1.1 Background IP. Subject always to the rights and licenses expressly granted under this Agreement, each Party would, at all
times and as between the Parties, continue to own all rights, title and interest in and to any and all Know-How and Intellectual Property that it owned or Controlled prior to the Effective Date, or which it
generates, or to which it obtains rights, outside of this Agreement or outside of the Licenses (“Background IP”) on or after the Effective Date. 

6.1.2 Inventions. Subject to Section 6.1.1., ownership of all Inventions, including all Inventions arising in the exercise
of the Licenses, shall be as set forth in this Section 6.1.2. Determination of inventorship of such Inventions shall be made in accordance with US patent laws. Notwithstanding anything in this Section 6.1.2 to the contrary (but subject
always to 

  
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Section 6.1.1), Zymeworks shall own and retain all rights in the Zymeworks Platform Improvements. Inventions that are made solely by Zymeworks or its Affiliates or subcontractors (such
Inventions and any and all Zymeworks Platform Improvements, collectively, the “Zymeworks Inventions”), together with all Know-How and Intellectual Property rights therein, shall be owned
solely by Zymeworks. Other than any such Inventions comprising Zymeworks Platform Improvements, Inventions created in the exercise of the Licenses solely by GSK or its Affiliates, sublicensees or subcontractors (“GSK Inventions”),
together with all Know-How and Intellectual Property rights therein, shall be owned solely by GSK. For clarity, GSK shall exclusively own GSK Sequence Pairs, GSK Antibodies, the Products and any mutations or
modifications to the GSK Sequence Pairs made by GSK alone or jointly with Third Parties; provided that Zymeworks shall retain all rights in and to the Zymeworks Platform and any Zymeworks Platform Improvements. 

6.1.3 Zymeworks Platform Improvements. GSK shall promptly disclose to Zymeworks any GSK Disclosed Improvements, in such detail
as is reasonably necessary to enable Zymeworks to practice such GSK Disclosed Improvement. GSK shall assign, and hereby assigns to Zymeworks, all rights, title and interest in and to any and all GSK Disclosed Improvements. GSK agrees to sign,
execute and acknowledge or cause to be signed, executed and acknowledged without cost, but at the expense of Zymeworks, any and all documents and to perform such acts as may be reasonably necessary for the purposes of perfecting the foregoing
assignments and obtaining, enforcing and defending Intellectual Property in any and all countries with respect to GSK Disclosed Improvements. GSK may disclose any other modifications or technical advances of the Zymeworks Platform made by or on
behalf of GSK or its Affiliates or sublicensees, which shall always exclude Zymeworks Improvements and Zymeworks Platform Improvements (each, an “Other GSK Disclosed Improvement”) in its sole discretion to Zymeworks or a Third
Party; provided that if GSK does disclose an Other GSK Disclosed Improvement to Zymeworks, an Affiliate of Zymeworks or any Third Party and such Other GSK Disclosed Improvement is severable from GSK’s Background IP, GSK shall grant, and hereby
grants, to Zymeworks a non-exclusive, sublicensable, fully paid-up, perpetual license to use such Other GSK Disclosed Improvement. 

6.2 Patent Prosecution and Maintenance. 

6.2.1 Definitions. As used in this Section 6.2, “prosecution” includes (a) all communication and
other interaction with any patent office or patent authority having jurisdiction over a patent application in connection with pre-grant or post-grant proceedings and (b) interferences, reexaminations,
reissues, oppositions, and the like. 
 6.2.2 Zymeworks Patent Rights. Zymeworks, at Zymeworks’ expense, shall have the
sole right to control the preparation, filing, prosecution and maintenance of Zymeworks Patent Rights using patent counsel of Zymeworks’ choice. Zymeworks shall keep GSK reasonably advised with respect to the status of the filing, prosecution
and maintenance of the Zymeworks Patent Rights. 

  
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 6.2.3 GSK Patent Rights. GSK, at GSK’s expense, shall have the sole right
to control the preparation, filing, prosecution and maintenance of GSK Patent Rights using patent counsel of GSK’s choice. 
 6.2.4
Cooperation in Prosecution. GSK shall provide Zymeworks with all reasonable assistance and cooperation in the patent prosecution efforts provided above in Sections 6.2.2, including providing any necessary powers of attorney and
assignments of employees of GSK and its Affiliates and sublicensees and Third Party contractors and executing any other required documents or instruments for such prosecution. All communications between the Parties relating to the preparation,
filing, prosecution or maintenance of the Zymeworks Patent Rights, including copies of any draft or final documents or any communications received from or sent to patent offices or patenting authorities with respect to such Patent Rights, shall be
considered Confidential Information of Zymeworks, subject to Article 7. 
 6.3 Enforcement and Defense. 

6.3.1 Notice. Each Party shall provide prompt notice to the other Party of any infringement of Zymeworks Patent Right, which
Covers a Product then under development or being commercialized of which such Party becomes aware (an “Infringement”). GSK and Zymeworks shall thereafter consult and cooperate fully to determine a course of action, including but not
limited to the commencement of legal action by either or both GSK and Zymeworks, to terminate any such Infringement of a Zymeworks Patent Right. 

6.3.2 Zymeworks Patent Rights. Zymeworks shall have the first right to enforce the Zymeworks Patent Rights with respect to any
Infringement, and to defend any declaratory judgment action with respect thereto, at its own expense and by counsel of its own choice and in the name of Zymeworks and shall notify GSK of such enforcement actions. If Zymeworks fails to bring or
defend any such action against an Infringement by a Product within (a) [...***...] following the notice of alleged Infringement or (b) [...***...] before the time limit, if any, set forth in Applicable Laws for the filing of such
actions, whichever comes first, GSK shall have the right but not the obligation, to bring and control any such action against such Infringement at its own expense and by counsel of its own choice, and Zymeworks shall have the right, at its own
expense, to be represented in any such action by counsel of its own choice. In no event shall GSK admit the invalidity of, in exercising its rights under this Section 6.3.2, any Zymeworks Patent Rights without Zymeworks’ prior written
consent, which may be withheld in Zymeworks’ sole discretion. 
 6.3.3 GSK Patent Rights. GSK shall have the sole
right to enforce the GSK Patent Rights with respect to any Infringement, and to defend any declaratory judgment action with respect thereto, at its own expense and by counsel of its own choice and in the name of GSK. 

6.3.4 Infringement Action. In the event that a Party brings an Infringement action in accordance with this Section 6.3 (the
“Controlling Party”), such Controlling Party shall keep the other Party reasonably informed of the progress of any such action, and the other 

  
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Party shall cooperate fully with the Controlling Party, including by providing information and materials, at the Controlling Party’s request and expense and if required to bring such action,
the furnishing of a power of attorney or being named as a party. 
 6.3.5 Recovery. Except as otherwise agreed by the Parties
as part of a cost-sharing arrangement, any recovery obtained by either or both GSK and Zymeworks in connection with or as a result of any action contemplated by this Section 6.3, whether by settlement or otherwise, shall be shared in order as
follows: 
 (a) the Party which initiated and prosecuted the action shall recoup all of its costs and expenses incurred in
connection with the action; 
 (b) the other Party shall then, to the extent possible, recover its costs and expenses incurred in
connection with the action; and 
 (c) the portion of any recovery remaining related to the Products hereunder shall be shared by
the Parties [...***...] in favor of the Controlling Party. 
 6.3.6 Notification of Infringement Claims of the Third Party
Patent Rights. If a Third Party asserts in writing to a Party that a Patent Right or other right owned by a Third Party may be infringed or misappropriated by the manufacture, use, sale, offer for sale, development, commercialization, or
importation of a Product, then such Party shall promptly notify the other Party within [...***...] of becoming aware of such possible infringement or misappropriation. 

6.3.7 Defense of Infringement Claims of Third Party Patent Rights. In the event that a claim is brought against either
Party alleging the infringement, violation or misappropriation of any Third Party Know-How or Intellectual Property right based on the manufacture, use, sale, offer for sale, or importation of any Product as a
result of the use of the Zymeworks Platform, the Parties shall promptly meet to discuss the defense of such claim, and the Parties shall enter into a joint defense agreement with respect to the common interest privilege protecting communications
regarding such claim in a form reasonably acceptable to the Parties. Each Party shall have the right to defend itself against such action. If only one of the Parties is being sued by the Third Party, then the other Party shall have the right, but
not the obligation, to join the suit. Subject to the provisions of Section 12, and except as otherwise provided in this Agreement, agreed by the Parties in writing or awarded by a court or arbitrator, each Party shall bear its own costs for its
defence of or joinder in such a claim. 
 6.3.8 Trademarks. GSK shall be responsible for the selection, registration and
maintenance of all trademarks which it employs in connection with any Product. 
 6.3.9 Pharmacovigilance. GSK shall be
responsible for the timely reporting of product quality complaints, adverse events and product safety data related to any Product to the appropriate Regulatory Authority or other applicable health authorities. 

6.3.10 Ownership of Regulatory Filings. GSK shall own and maintain all regulatory filings related to all Products filed pursuant
to this Agreement, including all BLAs. 

  
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 7. CONFIDENTIALITY 

7.1 Duty of Confidence. During the Term and for [...***...] thereafter, all Confidential Information disclosed by one
Party to the other Party hereunder shall be maintained in confidence by the receiving Party and shall not be disclosed to any Third Party or used for any purpose, except as set forth herein, without the prior written consent of the disclosing Party.
The recipient Party may only use Confidential Information of the other Party for purposes of exercising its rights and fulfilling its obligations under this Agreement and may disclose Confidential Information of the other Party and its Affiliates to
employees, agents, contractors, consultants and advisers of the recipient Party and its Affiliates, licensees and sublicensees to the extent reasonably necessary for such purposes; provided that such persons and entities are bound by confidentiality
and non-use of the Confidential Information consistent with the confidentiality provisions of this Agreement as they apply to the recipient Party. All Confidential Information disclosed by the Parties pursuant
to that certain Confidential Disclosure Agreement, dated [...***...] and subsequently amended on [...***...] (the “CDA”) shall be deemed to have been disclosed pursuant to this Agreement and shall be subject to the
protections of this Article 8. The CDA shall remain in force with respect to ongoing business negotiations between the Parties in accordance with its terms. 

7.2 Exceptions. The obligations under this Article 7 shall not apply to any information to the extent the recipient Party can
demonstrate by competent evidence that such information: 
 7.2.1 is (at the time of disclosure) or becomes (after the time of
disclosure) known to the public or part of the public domain through no breach of this Agreement by the recipient Party or its Affiliates; 

7.2.2 was known to, or was otherwise in the possession of, the recipient Party or its Affiliates prior to the time of disclosure by the
disclosing Party or its Affiliates; 
 7.2.3 is disclosed to the recipient Party or an Affiliate on a
non-confidential or confidential basis (but, in the case of confidential disclosures, solely to the extent that use or disclosure of such information is permitted pursuant to such confidential disclosure) by a
Third Party that is entitled to disclose it (including as a result of independent development of such information by such Third Party) without breaching any confidentiality obligation to the disclosing Party or any of its Affiliates; or 

7.2.4 is independently developed by or on behalf of the recipient Party or its Affiliates (including by a Third Party), as evidenced by
its written records without use of or reference to the Confidential Information disclosed by the disclosing Party or its Affiliates under this Agreement. 

7.3 Authorized Disclosures. Subject to this Section 7.3, the recipient Party may disclose Confidential Information
belonging to the other Party to the extent permitted as follows: 

  
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 7.3.1 to such Party’s attorneys, independent accountants or financial advisors
for the sole purpose of enabling such attorneys, independent accountants or financial advisors to provide advice to the receiving Party, on the condition that such attorneys, independent accountants and financial advisors are bound by
confidentiality and non-use obligations consistent with the confidentiality provisions of this Agreement as they apply to the recipient Party; 

7.3.2 disclosure by either Party or its Affiliates to governmental or other regulatory agencies in order to obtain and maintain patents
consistent with Article 6 or disclosure to gain or maintain approval to conduct Clinical Trials for a Product, to obtain and maintain Marketing Authorization in accordance with this Agreement, but such disclosure may be only to the extent reasonably
necessary to obtain and maintain patents or authorizations; 
 7.3.3 disclosure required in connection with any judicial or
administrative process relating to or arising from this Agreement (including any enforcement hereof) or to comply with applicable court orders or governmental regulations; or 

7.3.4 disclosure to potential or actual investors, potential or actual acquirers in connection with due diligence or similar
investigations by such Third Parties; provided, in each case, that any such potential or actual investor or acquirer agrees to be bound by confidentiality and non-use obligations consistent with those
contained in this Agreement as they apply to the recipient Party. 
 If the recipient Party is required by judicial or administrative
process to disclose Confidential Information pursuant to Section 7.3.3, such Party shall promptly inform the other Party of the disclosure that is being sought and provide the other Party an opportunity to challenge or limit the disclosure
obligations. Confidential Information that is disclosed as permitted by this Section 7.3 shall remain otherwise subject to the confidentiality and non-use provisions of this Article 7, and the Party
disclosing Confidential Information as permitted by this Section 7.3 shall take all steps reasonably necessary, including obtaining an order of confidentiality and otherwise cooperating with the other Party, to ensure the continued confidential
treatment of such Confidential Information. 
 8. PUBLICITY 

8.1 Publicity. The Parties have mutually approved a press release attached hereto as Exhibit 8.1 with respect to
this Agreement, which each Party may issue in connection with the execution of this Agreement, and either Party may make subsequent public disclosure of the contents of such press release. Subject to the foregoing, each Party agrees not to issue any
press release or other public statement, whether oral or written, disclosing the terms hereof or any the activities conducted hereunder without the prior written consent of the other Party (such consent not to be unreasonably withheld, conditioned
or delayed), provided however, that neither Party shall be prevented from complying with any duty of disclosure it may have pursuant to Applicable Laws or pursuant to the rules of any recognized stock exchange or quotation system, subject to that
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by the other Party (and giving the other Party sufficient time to review and comment on any proposed disclosure). In the event that Zymeworks desires to make a public announcement regarding the
achievement of any milestone event under Section 4.2, 4.3 or 4.4, Zymeworks shall provide GSK with no less than [...***...] in which to review and approve such announcement, such approval not to be unreasonably withheld, conditioned or
delayed. 
 8.2 Clinical Trial Registries. GSK shall have the right to post GSK’s clinical trial register summaries of
the results of Clinical Trials of Products conducted by or on behalf of GSK or its Affiliates; provided that such summaries shall not include Zymeworks’ name or other trademarks, or any of Zymeworks’ Confidential Information, without
Zymeworks’ prior written consent. 
 9. TERM AND TERMINATION 

9.1 Term. 

9.1.1 The term of this Agreement shall commence on the Effective Date and (subject to earlier termination in accordance with
Section 9.2, Section 9.3 or Section 9.4) shall expire upon the expiration, on a Product-by-Product and country-by-country basis, of the Royalty Term under Section 4.5.2 with respect to such Product in such country. The period from the Effective Date until the date of expiration of the entire Agreement
pursuant to this Section 9.1.1, or termination of this Agreement in its entirety pursuant to Sections 9.2, 9.3, or 9.4, shall be the “Term”. 

9.1.2 Upon expiration of this Agreement in accordance with Section 9.1.1 (but not the earlier termination of this Agreement), on a
country-by-country and Product-by-Product basis, the Licenses granted to GSK in
Section 2.1.2 shall become non-exclusive, fully paid-up, perpetual licenses. 

9.2 Termination. 

9.2.1 GSK Right of Termination. GSK may terminate this Agreement, in its entirety or on a Product-by-Product basis or country by country basis, in its sole discretion upon [...***...] prior written notice at any time and for any reason or for no reason at all, without incurring any penalty
or liability. 
 9.2.2 Termination for Patent Challenge. Notwithstanding anything herein to the contrary, in the event that
GSK or its Affiliates file or initiate an action challenging in court or by administrative proceeding seeking the invalidity or unenforceability of any Zymeworks Patent Rights, then Zymeworks, in its discretion, may give written notice to GSK that
Zymeworks shall terminate this Agreement, in its entirety, or on a Product-by-Product basis, unless such challenge is withdrawn, abandoned, or terminated (as
appropriate) within [...***...]. In the event that GSK or its Affiliate (as the case may be) does not withdraw, abandon or 

  
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terminate (as appropriate) such challenge within such [...***...] period, Zymeworks may terminate this Agreement, in its entirety, or on a Product-by-Product basis. 
 9.3 Termination for Cause. If either GSK or Zymeworks is
in material breach of any obligation hereunder, the non-breaching Party may give written notice to the breaching Party specifying the claimed particulars of such breach, and in such event, if the breach is not
cured within [...***...] after receipt of such written notice, the non-breaching Party shall have the rights thereafter to terminate this Agreement, in its entirety or with respect to the Product(s) that
are the subject of such breach, immediately by giving written notice to the breaching Party to such effect. 
 9.4 Termination for
Insolvency. To the extent permitted under Applicable Laws, either Party may terminate this Agreement, (a) if, at any time, the other Party files in any court or agency pursuant to any statute or regulation of any state or country, a
petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of the Party or of substantially all of its assets, or (b) if the other Party is served with an involuntary
petition against it, filed in any insolvency proceeding, and such petition shall not be dismissed within [...***...] after the filing thereof, or (c) if the other Party shall propose or be a party to any dissolution or liquidation, or
(d) if the other Party shall make an assignment of substantially all of its assets for the benefit of creditors. Each Party agrees to give the other Party prompt written notice of the foregoing events giving rise to termination under this
Section 9.4. 
 10. EFFECTS OF TERMINATION 

10.1 Termination of Agreement. 

(a) General. Any termination or expiration of this Agreement shall: (i) be without prejudice to any other damage or legal
redress that a Party may be entitled to, and (ii) shall not release a Party from any indebtedness, liability or other obligation, in each case incurred under this Agreement by such Party prior to the date of termination or expiration of this
Agreement. On or after the effective date of such termination, Zymeworks shall send GSK an Invoice for any payments that are due and for which it has not previously issued an Invoice to GSK; and GSK shall pay all such amounts within
[...***...] from the date of receipt of the corresponding Invoice from Zymeworks. GSK shall pay any previously Invoiced amounts in accordance with this Agreement. In the event that Zymeworks terminates the Agreement in its entirety pursuant to
Section 9.2.2, 9.3 or 9.4, or GSK terminates this Agreement in its entirety pursuant to Section 9.2.1, all rights and licenses granted to GSK under this Agreement shall terminate upon the effective date of such termination, and GSK shall
cease all use of the Zymeworks Platform and all development, manufacture and commercialization of the Antibodies and the Products. In the event that Zymeworks terminates the Agreement on a Product-by-Product basis pursuant to Section 9.2.2 or 9.3, or GSK terminates this Agreement on a Product-by-Product basis
pursuant to Section 9.2.1, all rights and licenses granted to GSK under this Agreement with respect to the terminated Products (and the GSK Antibodies incorporated 

  
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therein) shall terminate upon the effective date of such termination, and GSK shall cease all development, manufacture and commercialization of such Products (and the GSK Antibodies incorporated
therein). 
 (b) Expiration of Financial Obligations. On the expiration of the Royalty Term with respect to a Product that is
being commercialized by GSK in a particular country, if any, subject to the terms and conditions of this Agreement, the Licenses granted to GSK in Section 2.1.2 shall become perpetual, non-exclusive,
fully-paid and royalty-free right with respect to such Product in such country, as set forth in Section 9.1.2. 
 (c) GSK
Continuing Rights. Upon the termination of this Agreement by GSK pursuant to Section 9.3 or Section 9.4, GSK shall continue to have the exclusive right to research, develop and commercialize Products comprising GSK Antibodies
derived and generated from GSK Sequence Pairs selected prior to the effective date of such termination until the expiration of the Term in accordance with Section 9.1.1, pursuant to the Licenses and rights granted to GSK in Section 2.1.2,
which shall continue in full force and effect solely with respect to such Products subject to the payment by GSK of the applicable amounts set out in Article 4. Subject to the last sentence of Section 4.5.2, if GSK terminates this Agreement in
its entirety pursuant to Section 9.3, GSK shall then decrease any milestone and royalty payment payable to Zymeworks in respect of the Products by fifty percent (50%), for so long as GSK has the right to commercialize such Product on the terms
set out under this Agreement. 
 (d) Return of Information. Upon the expiration or termination of this Agreement, each Party
shall return or cause to be returned to the other Party, or destroy, all Confidential Information received from the other Party and all copies thereof; provided, however, that each Party may keep the Confidential Information received
from the other Party to the extent reasonably necessary to exercise any surviving rights and such other Party may keep one (1) copy of Confidential Information received from the other Party in its confidential files for record purposes. 

10.2 Survival. Expiration or termination of this Agreement shall not relieve the Parties of any obligation accruing prior to
such termination, nor affect in any way the survival of any other right, duty or obligation of the Parties which is expressly stated elsewhere in this Agreement to survive such termination. Without limiting the foregoing and except as expressly set
forth otherwise in this Agreement, Article 1, Article 4 and Article 5 (solely to the extent of any then-outstanding payment obligations; provided that Section 5.4 shall survive for the period set forth therein with respect to any payments due
to Zymeworks under this Agreement and records related thereto), Section 6.1, Article 7, Section 8.1, Article 10, Section 11.4, Article 12, and Article 13. 

10.3 Damages; Relief. Termination of this Agreement shall not preclude either Party from claiming any other damages,
compensation or relief that it may be entitled to upon such termination. 

  
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 10.4 Bankruptcy Code. If this Agreement is rejected by a Party as a debtor
under Section 365 of the United States Bankruptcy Code or similar provision in the bankruptcy laws of another jurisdiction (the “Code”), then, notwithstanding anything else in this Agreement to the contrary, all licenses and
rights to licenses granted under or pursuant to this Agreement by the Party in bankruptcy to the other Party are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code (or similar provision in
the bankruptcy laws of the jurisdiction), licenses of rights to “intellectual property” as defined under Section 101(35A) of the United States Bankruptcy Code (or similar provision in the bankruptcy laws of the jurisdiction). The Parties
agree that a Party that is a licensee of rights under this Agreement shall retain and may fully exercise all of its rights and elections under the Code, and that upon commencement of a bankruptcy proceeding by or against a Party under the Code, the
other Party shall be entitled to, to the extent required under the Code, a complete duplicate of, or complete access to (as such other Party deems appropriate), any such intellectual property and all embodiments of such intellectual property, if not
already in such other Party’s possession, shall be promptly delivered to such other Party (a) upon any such commencement of a bankruptcy proceeding upon written request therefor by such other Party, unless the bankrupt Party elects to
continue to perform all of its obligations under this Agreement or (b) if not delivered under (a) above, upon the rejection of this Agreement by or on behalf of the bankrupt Party upon written request therefor by the other Party. The
foregoing provisions of this Section 10.4 are without prejudice to any rights a Party may have arising under the Code. 
 11.
REPRESENTATIONS AND WARRANTIES AND COVENANTS 
 11.1 Representations and Warranties by Each Party. Each Party represents
and warrants to the other as of the Effective Date that: 
 11.1.1 it is a corporation duly organized, validly existing, and in good
standing under the laws of its jurisdiction of formation; 
 11.1.2 it has full corporate power and authority to execute, deliver,
and perform this Agreement, and has taken all corporate action required by Applicable Laws and its organizational documents to authorize the execution and delivery of this Agreement and the consummation of the transactions contemplated by this
Agreement; 
 11.1.3 this Agreement constitutes a valid and binding agreement enforceable against it in accordance with its terms
(except as the enforceability thereof may be limited by bankruptcy, bank moratorium or similar laws affecting creditors’ rights generally and laws restricting the availability of equitable remedies and may be subject to general principles of
equity whether or not such enforceability is considered in a proceeding at law or in equity); and 
 11.1.4 the execution and
delivery of this Agreement and all other instruments and documents required to be executed pursuant to this Agreement, and the consummation of the transactions contemplated hereby do not and shall not (a) conflict with or result in a breach of
any provision of its organizational documents, (b) result in a breach of any agreement to which it is a party; or (c) violate any Applicable Laws. 

  
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 11.2 Representations, Warranties and Covenants by Zymeworks. Zymeworks
represents, warrants as of the Effective Date and (solely to the extent specified below) covenants to GSK as follows: 
 11.2.1
Zymeworks has the right to grant the rights and licenses that it purports to grant to GSK under this Agreement, free and clear of all liens or encumbrances; 

11.2.2 Zymeworks has not granted and covenants not to grant during the Term rights to any Third Party under the Zymeworks Intellectual
Property that conflict with the rights granted to GSK hereunder; 
 11.2.3 Zymeworks has not received any written notification from a
Third Party alleging that any of the Zymeworks Intellectual Property infringes any intellectual property rights of a Third Party; 

11.2.4 there are no pending, and no threatened, adverse actions, suits or proceedings against Zymeworks involving Zymeworks
Intellectual Property that would impact Zymeworks ability to grant the rights and licenses that it purports to grant to GSK under this Agreement; and 

11.2.5 Zymeworks does not require any consent or waiver under any contractual arrangement with a Third Party to which Zymeworks is a
party to grant the rights and licenses that it purports to grant under this Agreement. 
 11.3 Representations, Warranties and
Covenants by GSK. GSK represents, warrants as of the Effective Date and covenants to Zymeworks as follows: 
 11.3.1 that all
employees, consultants, agents and sublicensees of GSK or its Affiliates working in or otherwise involved in the activities to be conducted pursuant to this Agreement, shall be under the obligation to assign to GSK all right, title and interest in
and to their inventions conceived and discoveries made within the scope of their employment, whether or not patentable, if any, which constitute GSK Disclosed Improvements or GSK Other Disclosed Improvements as the sole owner thereof; and 

11.3.2 it shall at all times perform its activities pursuant to this Agreement in compliance with Applicable Laws. 

11.4 No Other Warranties. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL
REPRESENTATIONS OR WARRANTIES OF ANY KIND WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT, EITHER EXPRESS OR IMPLIED, INCLUDING ANY WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE. 

  
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 11.5 Limitation. NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY, EITHER EXPRESS OR
IMPLIED, THAT ANY OF THE RESEARCH, DEVELOPMENT AND/OR COMMERCIALIZATION EFFORTS HEREUNDER WITH REGARD TO ANY ANTIBODY OR PRODUCT SHALL BE SUCCESSFUL. 

12. INDEMNIFICATION AND LIABILITY 

12.1 Indemnification by Zymeworks. Zymeworks shall indemnify, defend and hold GSK and its Affiliates, and their
respective officers, directors, employees, contractors, agents and assigns (each, a “GSK Indemnified Party”), harmless from and against losses, damages and liability, including reasonable legal expense and attorneys’ fees,
(collectively, “Losses”) to which any GSK Indemnified Party may become subject as a result of any Third Party demands, claims or actions (“Claims”) against any GSK Indemnified Party (including product liability
claims) arising or resulting from: (a) the negligence or willful misconduct of Zymeworks or its Affiliates pursuant to this Agreement; or (b) the material breach of any term in or the covenants, warranties, representations made by
Zymeworks to GSK under this Agreement. Zymeworks is only obliged to so indemnify and hold the GSK Indemnified Parties harmless to the extent that such Claims do not arise from the material breach of this Agreement by or the negligence or willful
misconduct of GSK. 
 12.2 Indemnification by GSK. GSK shall indemnify, defend and hold Zymeworks and its Affiliates, and
their respective officers, directors, employees, contractors, agents and assigns (each, a “Zymeworks Indemnified Party”), harmless from and against Losses incurred by any Zymeworks Indemnified Party as a result of any Third Party
Claims against any Zymeworks Indemnified Party (including product liability claims) arising or resulting from: (a) the research, development or commercialization of GSK Antibodies or Products by GSK or its Affiliates, licensees or sublicensees
(excluding Zymeworks and its Affiliates) under this Agreement; (b) the negligence or willful misconduct of GSK or its Affiliates pursuant to this Agreement; or (c) the material breach of any term in or the covenants, warranties,
representations made by GSK to Zymeworks under this Agreement. GSK is only obliged to so indemnify and hold the Zymeworks Indemnified Parties harmless to the extent that such Claims do not arise from the material breach of this Agreement or the
negligence or willful misconduct of Zymeworks. 
 12.3 Indemnification Procedure. 

12.3.1 Any GSK Indemnified Party or Zymeworks Indemnified Party seeking indemnification hereunder (“Indemnified
Party”) shall notify the Party against whom indemnification is sought (“Indemnifying Party”) in writing reasonably promptly after the assertion against the Indemnified Party of any Claim in respect of which the Indemnified
Party intends to base a claim for indemnification hereunder, but the failure or delay so to notify the Indemnifying Party shall not relieve the Indemnifying Party of any obligation or liability that it

  
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may have to the Indemnified Party except to the extent that the Indemnifying Party demonstrates that its ability to defend or resolve such Claim is adversely affected thereby. 

12.3.2 Subject to the provisions of Section 12.3.3 below, the Indemnifying Party shall have the right, upon providing written
notice to the Indemnified Party of its intent to do so within [...***...] after receipt of the notice from the Indemnified Party of any Claim, to assume the defense and handling of such Claim, at the Indemnifying Party’s sole expense.

 12.3.3 The Indemnifying Party shall select counsel reasonably acceptable to the Indemnified Party in connection with conducting
the defense and handling of such Claim, and the Indemnifying Party shall defend or handle the same in consultation with the Indemnified Party, and shall keep the Indemnified Party timely apprised of the status of such Claim. The Indemnifying Party
shall not, without the prior written consent of the Indemnified Party, agree to a settlement of any Claim which could lead to liability or create any financial or other obligation on the part of the Indemnified Party for which the Indemnified Party
is not entitled to indemnification hereunder, or would involve any admission of wrongdoing on the part of the Indemnified Party. The Indemnified Party shall cooperate with the Indemnifying Party, at the request and expense of the Indemnifying Party,
and shall be entitled to participate in the defense and handling of such Claim with its own counsel and at its own expense. 
 12.4
Special, Indirect and Other Losses. NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE UNDER THIS AGREEMENT FOR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING ANY SUCH LOSS OF PROFITS SUFFERED BY
THE OTHER PARTY, EXCEPT FOR LIABILITY FOR BREACH OF ARTICLE 7. NOTHING IN THIS SECTION 12.4 SHALL BE CONSTRUED TO LIMIT EITHER PARTY’S INDEMNIFICATION OBLIGATIONS UNDER THIS ARTICLE 12. 

12.5 Insurance. Zymeworks, at its own expense, shall maintain liability insurance (or self-insure) in an amount consistent with
industry standards during the Term. Zymeworks shall provide a certificate of insurance (or evidence of self-insurance) evidencing such coverage to GSK upon request. GSK hereby represents and warrants to Zymeworks that it is self-insured against
liability and other risks associated with its activities and obligations under this Agreement in such amounts and on such terms as are customary for prudent practices for global pharmaceutical companies and agrees that it shall remain so insured
throughout the Term. GSK shall furnish to Zymeworks evidence of such self-insurance, upon request. 
 13. GENERAL PROVISIONS 

13.1 Assignment. Except as provided in this Section 13.1, this Agreement may not be assigned or otherwise transferred, nor
may any right or obligation hereunder be assigned or transferred, by either Party without the consent of the other Party; provided, however, that (and notwithstanding anything elsewhere in this Agreement to the contrary) either Party
may, without such consent, 

  
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assign this Agreement and its rights and obligations hereunder in whole or in part to an Affiliate of such Party, provided further that, either Party, without the written consent of
the other Party, may assign this Agreement and its rights and obligations hereunder (or under a transaction under which this Agreement is assumed) in connection with the transfer or sale of all or substantially all of its assets or business related
to the subject matter of this Agreement, or in the event of its merger or consolidation or similar transaction. Any attempted assignment not in accordance with this Section 13.1 shall be void. Any permitted assignee shall assume all assigned
obligations of its assignor under this Agreement. For clarity, the foregoing is not intended to limit GSK’s right to grant sublicenses in accordance with Article 2 above. 

13.2 Extension to Affiliates. Except as expressly set forth otherwise in this Agreement, each Party shall have the right to
extend the rights and immunities granted in this Agreement to one or more of its Affiliates. All applicable terms and provisions of this Agreement, except this right to extend, shall apply to any such Affiliate to which this Agreement has been
extended to the same extent as such terms and provisions apply to the Party extending such rights and immunities. The Party extending the rights and immunities granted hereunder shall remain primarily liable for any acts or omissions of its
Affiliates. 
 13.3 Severability. Should one or more of the provisions of this Agreement become void or unenforceable as a
matter of Applicable Laws, then this Agreement shall be construed as if such provision were not contained herein and the remainder of this Agreement shall be in full force and effect, and the Parties shall use their best efforts to substitute for
the invalid or unenforceable provision a valid and enforceable provision which conforms as nearly as possible with the original intent of the Parties 

13.4 Governing Law; English Language. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware and the patent laws of the United States without reference to any rules of conflict of laws. This Agreement was prepared in the English language, which language shall govern the interpretation of, and any dispute regarding, the terms of
this Agreement. 
 13.5 Dispute Resolution. 

13.5.1 If any dispute, claim or controversy of any nature arising out of or relating to this Agreement, including any action or claim
based on tort, contract or statute, or concerning the interpretation, effect, termination, validity, performance or breach of this Agreement (each, a “Dispute”), arises between the Parties, either Party shall first attempt in good faith to
resolve such Dispute by negotiation and consultation between themselves. In the event that such Dispute is not resolved on an informal basis within [...***...], either Party shall, by written notice to the other Party, refer such Dispute
to senior representatives of each Party for attempted resolution. Each Party, within [...***...] after a Party has received such written request from the other Party 

  
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to so refer such Dispute, shall notify the other Party in writing of the senior representative to whom such dispute is referred. Such representatives shall attempt in good faith to promptly
resolve such Dispute within [...***...] thereafter. In the event that any Dispute, other than an Excluded Claim, is not resolved under the foregoing provisions, each Party shall seek resolution of such matter in accordance with
Section 13.5.2. 
 13.5.2 If a Dispute, other than an Excluded Claim, is not resolved through negotiation by the Parties and
their senior representatives under Section 13.5.1, the Parties agree that they shall try in good faith to resolve the Dispute by referring it for confidential mediation under the CPR Mediation Procedure in effect at the start of mediation.
Unless otherwise agreed, the Parties shall select a mediator from the CPR Panels of Distinguished Neutrals. If the Parties cannot agree, they shall defer to the CPR to select a mediator. The cost of the mediator shall be borne equally by the
Parties. The place of mediation shall be Wilmington, Delaware. Any Dispute not resolved within [...***...] (or within such other time period as may be agreed to by the Parties in writing) after appointment of the mediator shall be finally
resolved by arbitration pursuant to the remainder of this Section13.5. 
 13.5.3 If, after mediation pursuant to Section 13.5.2,
the Parties have not succeeded in negotiating a resolution of the Dispute, and a Party wishes to pursue the matter, each such Dispute, controversy or claim that is not an “Excluded Claim” (defined below) shall be finally resolved by
binding arbitration in accordance with the American Arbitration Association (“Rules”). Judgment on the Award may be entered in any court having jurisdiction. This clause shall not preclude Parties from seeking provisional remedies
in aid of arbitration from a court of appropriate jurisdiction. 
 13.5.4 The arbitration shall be conducted by a single arbitrator
experienced in the business of pharmaceuticals (including biologicals). If the issues in dispute involve scientific, technical or commercial matters, the arbitrator chosen hereunder shall engage experts having educational training or industry
experience sufficient to demonstrate a reasonable level of relevant scientific, medical and industry knowledge, as necessary to resolve the dispute. Within [...***...] after initiation of arbitration, the Parties shall select the arbitrator.
If the Parties are unable or fail to agree upon the arbitrator within such [...***...] period, the arbitrator shall be appointed in accordance with the Rules. The place of arbitration shall be Wilmington, Delaware, and all proceedings and
communications shall be in English. 
 13.5.5 Prior to the arbitrator being selected, either Party, without waiving any remedy under
this Agreement, may seek from any court having jurisdiction any temporary injunctive or provisional relief necessary to protect the rights or property of that Party until final resolution of the issue by the arbitrator or other resolution of the
controversy between the Parties. Once the arbitrator has been selected, either Party may apply to the arbitrator for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved, and either Party may
apply to a court of competent jurisdiction to enforce interim injunctive relief granted by the arbitrator. Any final award by the arbitrator may be entered by either Party in any court having appropriate jurisdiction for a judicial recognition of
the decision and applicable orders of enforcement. The arbitrator shall have no authority to award punitive or any other type of damages not measured by a Party’s compensatory damages. Each Party shall bear

  
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its own costs and expenses and attorneys’ fees and an equal share of the arbitrator’s fees and any administrative fees of arbitration, unless the arbitrator agrees otherwise. 

13.5.6 Except to the extent necessary to confirm an award or as may be required by law, neither a Party nor the arbitrator may disclose
the existence, content, or results of an arbitration without the prior written consent of both Parties. In no event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute,
controversy or claim would be barred by the applicable Delaware statute of limitations. The content and resolution of any arbitration conducted pursuant to this Section 13 shall be the Confidential Information of both Parties, and Parties shall
instruct the arbitrator to maintain the same as confidential. 
 13.5.7 As used in this Section 13.5, the term “Excluded
Claim” means any dispute, controversy or claim that concerns (a) the validity, enforceability or infringement of any patent, trademark or copyright, (b) any antitrust, anti-monopoly or competition law or regulation, whether or not
statutory, (c) tax matters, or (d) international law. Any Excluded Claim may be submitted by either Party to the State and Federal Courts located in Delaware or, if such courts are found not to have jurisdiction, any court of competent
jurisdiction over such Excluded Claim. 
 13.6 Force Majeure. Neither Party shall be responsible to the other for any failure
or delay in performing any of its obligations under this Agreement or for other nonperformance hereunder (excluding, in each case, the obligation to make payments when due) if such delay or nonperformance is caused by strike, fire, flood,
earthquake, accident, war, act of terrorism, act of God or of the government of any country or of any local government, or by any other cause unavoidable or beyond the control of any Party hereto. In such event, the Party affected shall use
commercially reasonable efforts to resume performance of its obligations and shall keep the other Party informed of actions related thereto. 

13.7 Waivers and Amendments. The failure of any Party to assert a right hereunder or to insist upon compliance with any term or
condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other Party. No waiver shall be effective unless it has been given in writing and signed by
the Party giving such waiver. No provision of this Agreement may be amended or modified other than by a written document signed by authorized representatives of each Party. 

13.8 Relationship of the Parties. Nothing contained in this Agreement shall be deemed to constitute a partnership, joint
venture, or legal entity of any type between Zymeworks and GSK, or to constitute one as the agent of the other. Each Party shall act solely as an independent contractor, and nothing in this Agreement shall be construed to give any Party the power or
authority to act for, bind, or commit the other. 

  
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 13.9 Notices. All notices, consents or waivers under this Agreement shall be in
writing and shall be deemed to have been duly given when (a) scanned and converted into a portable document format file (i.e., pdf file), and sent as an attachment to an e-mail message, where, when
such message is received, a read receipt e-mail is received by the sender (and such read receipt e-mail is preserved by the Party sending the notice), provided
further that a copy is promptly sent by an internationally recognized overnight delivery service (receipt requested)(although the sending of the e-mail message shall be when the notice is deemed to have
been given), or (b) the earlier of when received by the addressee or five (5) days after it was sent, if sent by registered letter or overnight courier by an internationally recognized overnight delivery service (receipt requested), in
each case to the appropriate addresses and e-mail addresses set forth below (or to such other addresses and e-mail addresses as a Party may designate by notice): 

 

			
	If to Zymeworks:	 	Zymeworks Inc.
		 	540-1385 West 8th Avenue
		 	Vancouver, BC
		 	Canada
		 	V6H 3V9
		 	 Attention: [...***...]
 E-mail address: [...***...]

		
	and	 	
		
		 	Wilson Sonsini Goodrich & Rosati
		 	650 Page Mill Road
		 	Palo Alto, CA 95070
		 	Attention: [...***...]
		 	E-mail address: [...***...]
		
	If to GSK:	 	GSK
		 	980 Great West Road
		 	Brentford, Middlesex
		 	TW8 9GS
		 	Attention: [...***...]
		 	E-mail address: [...***...]
		
	and	 	
		
		 	GSK
		 	709 Swedeland Road
		 	PO Box 1539
		 	King of Prussia, PA
		
		 	Attention: [...***...]
		 	E-mail address: [...***...]

 Zymeworks shall also provide a copy of any notice (via e-mail if
available) to GSK’s project leader and alliance manager; provided that GSK has provided the contact information for such individuals in writing in advance of Zymeworks’ sending such notice. 

  
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 13.10 Further Assurances. GSK and Zymeworks hereby covenant and agree without
the necessity of any further consideration, to execute, acknowledge and deliver any and all documents and take any action as may be reasonably necessary to carry out the intent and purposes of this Agreement. 

13.11 Compliance with Law. Each Party shall perform its obligations under this Agreement in accordance with all Applicable Laws.
No Party shall, or shall be required to, undertake any activity under or in connection with this Agreement which violates, or which it believes, in good faith, may violate, any Applicable Laws. 

13.12 No Third Party Beneficiary Rights. This Agreement is not intended to and shall not be construed to give any Third Party
any interest or rights (including any Third Party beneficiary rights) with respect to or in connection with any agreement or provision contained herein or contemplated hereby, except as otherwise expressly provided for in this Agreement. 

13.13 Entire Agreement. This Agreement sets forth the entire agreement and understanding of the Parties as to the subject matter
hereof and supersedes all proposals, oral or written, and all other communications between the Parties with respect to such subject matter, other than the CDA. 

13.14 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 
 13.15 Expenses. Each Party shall pay its
own costs, charges and expenses incurred in connection with the negotiation, preparation and completion of this Agreement. 
 13.16
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective legal representatives, successors and permitted assigns. 

13.17 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 a favor of 

  
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or against any Party, regardless of which Party was generally responsible for the preparation of this Agreement. 

13.18 Cumulative Remedies. No remedy referred to in this Agreement is intended to be exclusive unless explicitly stated to be
so, but each shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law. 

13.19 Export. Each Party acknowledges that the laws and regulations of the United States restrict the export and re-export of commodities and technical data of United States origin. Each Party agrees that it shall not export or re-export restricted commodities or the technical data of
the other Party in any form without appropriate United States and foreign government licenses. 
 13.20 Ethical Standards 

13.20.1 Human Rights 

(a) Unless otherwise required or prohibited by Applicable Laws, the Parties warrant, to the best of their knowledge, that in relation
to the performance of this Agreement: 
 (i) they do not employ engage or otherwise use any child labour in circumstances such that the
tasks performed by any such child labour could reasonably be foreseen to cause either physical or emotional impairment to the development of such child; 

(ii) they do not use forced labour in any form (prison, indentured, bonded or otherwise) and its employees are not required to lodge papers
or deposits on starting work; 
 (iii) they provide a safe and healthy workplace, presenting no immediate hazards to its employees. Any
housing provided by the Parties to their employees is safe for habitation. The Parties provides access to clean water, food, and emergency healthcare to their employees in the event of accidents or incidents in the workplace; 

(iv) they do not discriminate against any employees on any ground (including race, religion, disability or gender); 

(v) they do not engage in or support the use of corporal punishment, mental, physical, sexual or verbal abuse and does not use cruel or
abusive disciplinary practices in the workplace; 
 (vi) they pay each employee at least the minimum wage, or a fair representation of the
prevailing industry wage, (whichever is the higher) and provides each employee with all legally mandated benefits; 

  
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 (vii) they comply with the laws on working hours and employment rights in the countries in
which they operate; 
 (viii) they are respectful of their employees’ right to join and form independent trade unions and freedom of
association. 
 (b) The Parties agree that they are responsible for controlling their own supply chain and that they shall encourage
compliance with ethical standards and human rights by any subsequent supply of goods and services that are used by the Parties when performing their obligations under this Agreement. 

(c) The Parties shall ensure that they have ethical and human rights policies and an appropriate complaints procedure to deal with any
breaches of such policies. 
 13.21 Anti-Corruption  

13.21.1 Zymeworks acknowledges receipt of the ‘Prevention of Corruption – Third Party Guidelines’ (attached at Exhibit
13.21) and agrees to perform its obligations under the Agreement in accordance with the principles set out therein. 
 13.21.2 The
Parties shall comply fully at all time with all Applicable Laws in their performance under this Agreement, including but not limited to applicable anti-corruption laws, of the territory in which the Parties conduct business with each other. 

13.21.3 The Parties shall be entitled to terminate this Agreement immediately on written notice to the other, if the other Party fails
to perform its obligations in accordance with this Section13.21. The defaulting Party shall have no claim against the non-defaulting Party for compensation for any loss of whatever nature by virtue of the
termination of this Agreement in accordance with this Section 13.21.3. To the extent (and only to the extent) that the laws of the territory provide for any such compensation to be paid to the
non-defaulting upon the termination of this Agreement, the Parties hereby expressly agree to waive (to the extent possible under the laws of the territory) or to repay any such compensation or indemnity. 

[Remainder of page left blank intentionally.] 

  
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 IN WITNESS WHEREOF, the Parties intending to be bound have caused this Agreement to be
executed by their duly authorized representatives. 
  

			
	Zymeworks Inc.
		
	By:	 	 /s/ Ali Tehrani

	Name:	 	Ali Tehrani, Ph.D.
	Title:	 	President & Chief Executive Officer
	
	GlaxoSmithKline Intellectual Property Development Limited
		
	By:	 	 /s/ Paul Williamson

	Name:	 	 Paul Williamson

	Title:	 	 Authorised Signatory for and on behalf of Edinburgh Pharmaceutical Industries Limited

Corporate Director

  
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 EXHIBIT 1.34 

Invoice and Bank Detail Formats Required 
  

	1.	Invoice details: 

 The name and address details for the invoices are as follows: 

GlaxoSmithKline Intellectual Property Development Limited 

980 Great West Road 
 Brentford

 Middlesex 
 TW8 9GS 

United Kingdom 
 All invoices
should include, at a minimum, the following information: 
  

	 	•	 	Invoice Date, Number and Amount 

  

	 	•	 	Invoicing party Name, Address, Phone Number, Vat No. if applicable 

  

	 	•	 	Bank details 

  

	 	•	 	GSK contact names and respective email addresses 

  

	 	•	 	Agreement Reference Information ( e.g. Effective Date) 

  

	 	•	 	Description of Event that triggers Invoice 

 Invoices in PDF format should be sent via email [...***...]
and the [...***...] 
 For any queries in relation to invoicing, please contact [...***...]. 

 

	2.	Bank information details format: 

  

	 	•	 	Third Party shall provide a scan copy of a letter (on Company letterhead), signed by finance and copied into a ‘read only’ word document i.e. password protected. 

 

	 	•	 	The word file referred to above shall be sent via email to the GSK Contact listed in the invoice section i.e. (GSK person with whom the Third Party team engages in Business As Usual) and also copying the
[...***...] 

  

	 	•	 	Please do not disclose the password to any GSK contact.

  
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 Exhibit 1.54 

TECHNICAL DOSSIER OUTLINE 

[...***...] 

  
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 Exhibit 1.64 

ZYMEWORKS PATENT RIGHTS 

[...***...] 

  
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 Exhibit 3.6 

MATERIAL TRANSFER RECORD FORM 

GSK and Zymeworks 
 Capitalized terms used herein
that are not defined herein shall have the meanings set forth in the Platform Technology Transfer and License Agreement dated [●] made between GSK and Zymeworks. 

In connection with the performance of the Agreement and pursuant to the terms of the Agreement: 

(i) GSK shall transfer to Zymeworks the Materials set forth below; 

and/or 
 (ii) Zymeworks shall transfer to GSK the Materials set
forth below. 
 This Material Transfer Record Form shall be used as the record of all such Material transfers, whether from GSK to Zymeworks or from
Zymeworks to GSK. 
 Transfer Date: 
 Description of Materials

 Description of Research for which the Material(s) shall be Used 

Description of general nature of the business of the Third Party(ies) to whom Materials will be transferred for purposes of such research 

  
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	Signature – GSK Representative	 	  
	  	

 Date 
  

					
	Signature – Zymeworks Representative	 	  
	  	

 Date 
 Note: This MTR is to be
completed and signed by the Zymeworks and the GSK representative for each transfer. A copy of each completed MTR is to be timely provided to project manager (for GSK) and to the project manager (for Zymeworks). This MTR should not be used to
transfer any materials in which the Transferor believes that third parties have rights, or which the Transferor believes infringe or violate any intellectual property rights held by any Third Party. If there are any questions about the
appropriateness of a transfer, please contact the named representatives identified herein before making the transfer. 

  
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 EXHIBIT 8.1 

PRESS RELEASE 
 Zymeworks
and GSK Enter Second Strategic Collaboration to Develop and Commercialize Bi-Specific Antibodies 

Vancouver, Canada (TBD, 2016) – Zymeworks Inc., a leader in the development of bi-specific and
multi-specific antibodies and antibody drug conjugates, announced today that it has entered into a new licensing agreement with GSK for the research, development, and commercialization of novel bi-specific
antibodies enabled using Zymeworks’ AzymetricTM drug discovery platform. Under the agreement, GSK will have the option to develop and commercialize multiple bi-specific drugs across different disease
areas. Zymeworks will receive upfront and preclinical payments of up to USD$36 million and is eligible to receive up to USD$152 million in development and clinical milestone payments, along with commercial sales milestone payments of up to
USD$720 million, and tiered royalties on potential sales. 
 As previously announced in December 2015, Zymeworks and GSK entered into a collaboration
and license agreement to further develop Zymeworks’ Effector Function Enhancement and Control Technology (EFECTTM) platform and to research, develop, and commercialize novel Fc-engineered monoclonal
and bi-specific antibody therapeutics that have been optimized for specific therapeutic effects. As part of this second agreement, GSK has also gained the right to combine the AzymetricTM platform with
novel engineered Fc domains developed under the previously announced collaboration. 
 “We are excited to be expanding our relationship with GSK to
include our AzymetricTM bi-specific platform. We view this new collaboration as evidence of our valuable role as a partner and the strength of our proprietary drug development platforms,” said Ali
Tehrani, Ph.D., President and CEO of Zymeworks. “The proceeds from this collaboration will be used to advance our pipeline of therapeutic candidates, including the AzymetricTM antibody ZW25 and the AzymetricTM antibody drug conjugate
ZW33, into human clinical trials this year. They will also be utilized to support the continued expansion and strengthening of our core capabilities in antibody discovery, protein engineering, and antibody drug conjugates.” 

About the AzymetricTM Platform 
 Bi-specific antibodies developed using the AzymetricTM platform resemble conventional mono-specific antibodies while being able to simultaneously bind to two different targets resulting in additive or
synergistic therapeutic responses. AzymetricTM antibodies spontaneously assemble into a single molecule with two different Fab domains comprising of unique heavy and light chain pairings. AzymetricTM antibodies are manufactured using
conventional monoclonal antibody processes and can also be easily adapted to rapidly screen target and sequence combinations for bi-specific activities in the final therapeutic format thereby significantly
reducing drug development timelines. 

  
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 About the EFECTTM Platform 

The EFECTTM platform is a library of antibody Fc modifications engineered to modulate the activity of the antibody-mediated immune response, which includes
both the up and down-regulation of effector functions. This platform is compatible with traditional monoclonal as well as AzymetricTM bi-specific antibodies to further enable the customization of
therapeutic responses for different diseases. 
 About Zymeworks Inc. 

Zymeworks is a privately held biotherapeutics company that is developing
best-in-class AzymetricTM bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and
inflammatory diseases. The company’s novel AzymetricTM, AlbuCORETM, and EFECTTM platforms, its ZymelinkTM conjugation platform and cytotoxins, and its proprietary ZymeCADTM structure-guided protein engineering technology,
enable the development of highly potent bi-specific antibodies, multivalent protein therapeutics, and antibody drug conjugates across a range of indications. Zymeworks is focused on accelerating its
preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found at www.zymeworks.com. 

  
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 EXHIBIT 13.21 

PREVENTION OF CORRUPTION – THIRD PARTY GUIDELINES 

[...***...] 

  
 54EX-10.25

 Exhibit 10.25 

CONFIDENTIAL 
 CONFIDENTIAL
TREATMENT REQUESTED UNDER RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. [...***...] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS BEEN
FILED SEPARATELY WITH THE COMMISSION. 
 COLLABORATION AND CROSS LICENSE AGREEMENT 

Between 
 ZYMEWORKS INC.

 and 
 DAIICHI
SANKYO CO., LTD. 
 September 26, 2016 

Confidential 

 CONFIDENTIAL 
  

 TABLE OF CONTENTS 

 

									
	 	  	Section	  	 	  	Page	 
	 1.
	  	DEFINITIONS AND INTERPRETATIONS	  	 	5	 
			
	 2.
	  	GRANT OF LICENSES	  	 	15	 
				
		  	2.1	  	Licenses and Rights to DS	  	 	15	 
		  	2.2	  	Licenses to Zymeworks	  	 	17	 
		  	2.3	  	No Implied Licenses	  	 	19	 
			
	 3.
	  	RESEARCH PROGRAM AND DEVELOPMENT AND COMMERCIALIZATION OF PRODUCTS	  	 	19	 
				
		  	3.1	  	Research Program	  	 	19	 
		  	3.2	  	Records and Reports	  	 	20	 
		  	3.3	  	Development and Commercialization by DS	  	 	21	 
		  	3.4	  	Replacement of Sequence Pairs	  	 	21	 
		  	3.5	  	Sequence Pair Replacement Limitations	  	 	22	 
			
	 4.
	  	GOVERNANCE	  	 	22	 
				
		  	4.1	  	Research Program Leader	  	 	22	 
		  	4.2	  	Joint Steering Committee	  	 	22	 
		  	4.3	  	JSC Meetings	  	 	23	 
		  	4.4	  	JSC Functions	  	 	23	 
			
	 5.
	  	FINANCIAL PROVISIONS	  	 	24	 
				
		  	5.1	  	Technology Access Fee	  	 	24	 
		  	5.2	  	Research Funding	  	 	24	 
		  	5.3	  	Option Exercise Fee	  	 	24	 
		  	5.4	  	Product-by-Product Basis	  	 	24	 
		  	5.5	  	Development and Regulatory Milestones	  	 	25	 
		  	5.6	  	Commercialization Milestones	  	 	25	 
		  	5.7	  	Royalties	  	 	26	 
		  	5.8	  	Royalties on [...***...] Products.	  	 	27	 
			
	 6.
	  	REPORTS AND PAYMENT TERMS	  	 	27	 
				
		  	6.1	  	Payment Terms	  	 	27	 
		  	6.2	  	Payment Currency / Exchange Rate	  	 	28	 
		  	6.3	  	Taxes	  	 	28	 
		  	6.4	  	Records and Audit Rights	  	 	29	 
			
	 7.
	  	INTELLECTUAL PROPERTY RIGHTS	  	 	30	 
				
		  	7.1	  	Ownership of Inventions	  	 	30	 
		  	7.2	  	Patent Prosecution and Maintenance	  	 	31	 
		  	7.3	  	Enforcement and Defense	  	 	33	 
			
	 8.
	  	CONFIDENTIALITY	  	 	35	 

  
 CONFIDENTIAL 

 CONFIDENTIAL 
  

									
		  	8.1	  	Duty of Confidence	  	 	35	 
		  	8.2	  	Exceptions	  	 	35	 
		  	8.3	  	Authorized Disclosures	  	 	36	 
			
	 9.
	  	PUBLICATIONS AND PUBLICITY	  	 	37	 
				
		  	9.1	  	Publications	  	 	37	 
		  	9.2	  	Publicity	  	 	38	 
			
	 10.
	  	TERM AND TERMINATION	  	 	38	 
				
		  	10.1	  	Term	  	 	38	 
		  	10.2	  	Termination for Convenience	  	 	39	 
		  	10.3	  	Termination for Patent Challenge	  	 	39	 
		  	10.4	  	Termination for Cause	  	 	40	 
			
	 11.
	  	EFFECTS OF TERMINATION	  	 	40	 
				
		  	11.1	  	Termination of Agreement	  	 	40	 
		  	11.2	  	Survival	  	 	41	 
		  	11.3	  	Damages; Relief	  	 	41	 
		  	11.4	  	Bankruptcy Code	  	 	41	 
			
	 12.
	  	REPRESENTATIONS AND WARRANTIES	  	 	41	 
				
		  	12.1	  	Representations and Warranties by Each Party	  	 	41	 
		  	12.2	  	Representations and Warranties by Zymeworks	  	 	42	 
		  	12.3	  	Representations and Warranties by DS	  	 	42	 
		  	12.4	  	Limitation	  	 	43	 
		  	12.5	  	No Other Warranties	  	 	43	 
			
	 13.
	  	INDEMNIFICATION AND LIABILITY	  	 	43	 
				
		  	13.1	  	Indemnification by Zymeworks	  	 	43	 
		  	13.2	  	Indemnification by DS	  	 	43	 
		  	13.3	  	Indemnification Procedure	  	 	44	 
		  	13.4	  	Special, Indirect and Other Losses	  	 	44	 
		  	13.5	  	Insurance	  	 	45	 
			
	 14.
	  	GENERAL PROVISIONS	  	 	45	 
				
		  	14.1	  	Assignment	  	 	45	 
		  	14.2	  	Extension to Affiliates	  	 	45	 
		  	14.3	  	Severability	  	 	45	 
		  	14.4	  	Governing Law; English Language	  	 	45	 
		  	14.5	  	Dispute Resolution	  	 	46	 
		  	14.6	  	Force Majeure	  	 	47	 
		  	14.7	  	Waivers and Amendments	  	 	47	 
		  	14.8	  	Relationship of the Parties	  	 	47	 
		  	14.9	  	Notices	  	 	47	 
		  	14.10	  	Further Assurances	  	 	48	 
		  	14.11	  	Compliance with Law	  	 	48	 
		  	14.12	  	No Third Party Beneficiary Rights	  	 	48	 

  
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 CONFIDENTIAL 
  

									
		  	14.13	  	Entire Agreement	  	 	48	 
		  	14.14	  	Counterparts	  	 	49	 
		  	14.15	  	Expenses	  	 	49	 
		  	14.16	  	Binding Effect	  	 	49	 
		  	14.17	  	Construction	  	 	49	 
		  	14.18	  	Cumulative Remedies	  	 	49	 
		  	14.19	  	Export	  	 	49	 
		  	14.20	  	Notification and Approval	  	 	50	 

  
 CONFIDENTIAL 

 CONFIDENTIAL 
  

 COLLABORATION AND CROSS LICENSE AGREEMENT 

THIS COLLABORATION AND CROSS LICENSE AGREEMENT (the “Agreement”), effective as of
                 , 2016 (the “Effective Date”), by and between DAIICHI SANKYO CO., LTD., a corporation
organized and existing under the laws of Japan, with its principal business office located at 3-5-1, Nihonbashi honcho, Chuo-ku, Tokyo,
103-8426, Japan (“DS”) and ZYMEWORKS INC., a corporation organized and existing under the laws of Canada, and extra provincially in British Columbia, having an address at 540-1385 West 8th Avenue, Vancouver, BC, Canada V6H 3V9 (“Zymeworks”). Zymeworks and DS are each referred to individually as a “Party” and together as the
“Parties”. 
 BACKGROUND 

A. Zymeworks controls a proprietary [...***...] heterodimerization platform that was developed using Zymeworks’ proprietary
molecular simulation software, known as ZymeCADTM. Zymeworks also controls a proprietary [...***...] platform, known as the EFECTTM [...***...] platform. 

B. DS and Zymeworks desire to enter into this agreement under which the Parties will utilize such platforms to generate and develop certain
[...***...] Antibodies (as defined below) based on pairs of binding sequences nominated by DS. 
 C. DS desires to obtain certain
licenses and options under certain intellectual property controlled by Zymeworks to develop and commercialize certain products incorporating such Antibodies, and Zymeworks is willing to grant such rights, all on the terms and conditions as set forth
below. 
 D. Zymeworks desires to obtain certain licenses under certain intellectual property controlled by DS to develop and commercialize
certain products incorporating antibodies derived and generated from the [...***...] Binding Domain (as defined below), and DS is willing to grant such rights, all on the terms and conditions as set forth below. 

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein below, and other good and valuable
consideration, the sufficiency of which is hereby acknowledged by both Parties, the Parties agree as follows: 
 1. DEFINITIONS AND
INTERPRETATIONS 
 Whenever used in this Agreement with an initial capital letter, the terms defined in this Article 1 and elsewhere in
this Agreement, whether used in the singular or plural, shall have the meanings specified. 

  
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 1.1 “Acquiring Entity” means a Third Party that merges or
consolidates with or acquires Zymeworks, or to which Zymeworks transfers all or substantially all of its assets to which this Agreement pertains. 

1.2 “Act” means, as applicable, the United States Federal Food, Drug and Cosmetic Act, 21 U.S.C. §§ 301
et seq., or the Public Health Service Act, 42 U.S.C. §§ 262 et seq., as such may be amended from time to time. 
 1.3
“Affiliate” means with respect to either Party, any Person controlling, controlled by or under common control with such Party, for so long as such control exists. For purposes of this Section 1.3 only, “control” means
(i) direct or indirect ownership of fifty percent (50%) or more of the stock or shares having the right to vote for the election of directors of such corporate entity or (ii) the possession, directly or indirectly, of the power to direct,
or cause the direction of, the management or policies of such entity, whether through the ownership of voting securities, by contract or otherwise. 

1.4 “Annual Net Sales” means, with respect to a particular Product and Calendar Year, all Net Sales of
such Product throughout the Territory during such Calendar Year. 
 1.5 “Antibody” means any and all antibodies or
antibody analogues, including Fc or Fab components thereof, derived and generated from the DS [...***...] through the application of the Zymeworks Platform pursuant to the Research Program. For clarity, all Antibodies shall be
[...***...]. 
 1.6 “Applicable Laws” means, in all countries, all federal, state, local, national and
supra-national laws, statutes, rules and regulations, including any rules, regulations, guidelines or requirements of Regulatory Authorities, national securities exchanges or securities listing organizations that may be in effect from time to time
during the Term and applicable to a particular activity hereunder. 
 1.7 “Business Day” means any day other
than a Saturday, Sunday or any other day on which commercial banks in Japan or New York, New York, U.S.A. are authorized or required by Applicable Law to remain closed. 

1.8 “Calendar Quarter” means any respective period of three (3) consecutive calendar months ending on
March 31, June 30, September 30 and December 31 of any Calendar Year. 
 1.9 “Calendar
Year” means each successive period of twelve (12) months commencing on January 1 and ending on December 31. 

1.10 “[...***...]” means the Target more specifically identified as entry P07766 in the UniProt/SwissProt database.

 1.11 “[...***...]” means any and all antibodies or antibody analogues, including Fc or Fab components thereof,
derived and generated from the [...***...], other than the Antibodies. 

  
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 1.12 “[...***...]” means DS’ proprietary Sequence Directed To
[...***...], which is agreed upon by the Parties and set forth on Exhibit 1.12. 
 1.13 “[...***...]” shall
have the same meaning as Net Sales; provided that all references to DS in the definition of Net Sales shall be replaced with references to Zymeworks for purposes of defining [...***...], all references to the Product in the definition of Net
Sales shall be replaced with references to [...***...] for purposes of defining [...***...], and all references to Antibody in the definition of Net Sales shall be replaced with reference to [...***...] for purposes of defining
[...***...]. 
 1.14 “[...***...]” means a pharmaceutical preparation in final form containing one or more
[...***...]. 
 1.15 “[...***...] Combination” means a [...***...] that contains one or more
active agents that are not [...***...] (e.g., one or more antibodies that are not [...***...] and/or one or more chemotherapeutics) in addition to an [...***...]. 

1.16 “Clinical Trial” means a Phase I Clinical Trial, Phase II Clinical Trial or Phase III Clinical Trial, or
any post-approval human clinical trial, as applicable. 
 1.17 “Combination Product” means, with respect to a
Product, a Product Combination and, with respect to a [...***...] Product, a [...***...] Product Combination. 
 1.18
“Confidential Information” means all Know-How, which is generated by or on behalf of a Party under this Agreement or which one Party or any of its Affiliates or contractors has provided
or otherwise made available to the other Party, whether made available orally, in writing, or in electronic form, including (a) such Know-How comprising or relating to concepts, discoveries, Inventions,
data, designs or formulae arising from this Agreement and (b) any unpublished patent applications disclosed hereunder. This existence and terms of this Agreement constitute Confidential Information of both of the Parties. 

1.19 “Control” or “Controlled” means, with respect to any material,
Know-How, or intellectual property right (including Patent Rights), that a Party (a) owns or (b) has a license to such material, Know-How, or intellectual
property right and, in each case, has the power to grant to the other Party access, a license, or a sublicense (as applicable) to the same on the terms and conditions set forth in this Agreement without violating any obligations of the granting
Party to a Third Party or subjecting the granting Party to any additional fee or charge. Notwithstanding anything to the contrary in this Agreement, the following shall not be deemed to be Controlled by Zymeworks: (i) any materials, Know-How or intellectual property right owned or licensed by any Acquiring Entity immediately prior to the effective date of the merger, consolidation or transfer making such Third Party an Acquiring Entity, and
(ii) any materials, Know-How or intellectual property right that any Acquiring Entity subsequently develops without accessing or practicing the Zymeworks Platform or any Zymeworks Intellectual Property.

 1.20 “Covered” means, with respect to a Product or [...***...] Product in a particular country, that the
manufacture, use, sale or importation of such Product or [...***...] Product, as applicable, in such country would, but for the licenses granted herein, infringe a Valid Patent Claim. 

  
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 1.21 “Directed To” means, with regard to an antibody or product, that
such antibody or product (a) binds directly to a Target, and also (b) exerts its primary diagnostic, prophylactic or therapeutic activity as a result of such binding or modifies the profile (e.g., pharmacokinetics, tissue penetration and
distribution) of the antibody as a result of such binding; provided, however, if the phrase “Directed To” is used with respect to the [...***...] Binding Domain, independent of an antibody or product derived or generated from the
[...***...] Binding Domain, only clause (a) above (and not clause (b)) shall apply. When required grammatically, the defined term “Directed To” may be separated and shall have the same meaning set forth above; e.g., when
discussing Targets To which an antibody is Directed. 
 1.22 “DS Intellectual Property” means the DS Know-How and DS Patent Rights. 
 1.23 “DS
Know-How” means all Know-How, which: (a) is Controlled by DS or its Affiliates as of the Effective Date or during the Term of this Agreement,
(b) is not generally known, and (c) is reasonably necessary or useful to Zymeworks in exploiting the [...***...] Binding Domain or [...***...] Variable Domain Improvements, or otherwise in exercising the DS Patent Rights, in
each case to develop, manufacture or commercialize [...***...] Antibodies. The list of DS Know-How to be disclosed by DS to Zymeworks as of the Effective Date is specified in the Exhibit 1.23. 

1.24 “DS Patent Rights” means any and all Patent Rights that are Controlled by DS or its Affiliates as
of the Effective Date or during the Term of the Agreement, to the extent they claim the [...***...] Binding Domain or [...***...] Variable Domain Improvements (including any such Patent Rights Controlled by DS or its Affiliates to the
extent claiming Inventions directed to the [...***...] Binding Domain or [...***...] Variable Domain Improvements). For clarity, if such a Patent Right claims both (i) the [...***...] Binding Domain and/or [...***...]
Variable Domain Improvements and (ii) any of inventions other than the [...***...] Binding Domain and/or [...***...] Variable Domain Improvements, including Antibody, Product and Research Sequence Pair, only part (i) above
falls in the scope of DS Patent Rights, and part (ii) is excluded from the scope of DS Patent Rights. 
 1.25
“European Union” means the European Union as it exists as of the Effective Date, together with any countries or territories that subsequently join the European Union. For clarity, any countries or territories that exit the
European Union after the Effective Date shall remain part of the European Union for purposes of this Agreement. As of the Effective Date, the European Union includes the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom. 

1.26 “EU Major Market” means [...***...]. 

1.27 “FDA” means the United States Food and Drug Administration and any successor thereto. 

1.28 “Field” means any and all uses, including diagnostic, prophylactic, and therapeutic uses, in humans. 

  
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 1.29 “First Commercial Sale” means, with respect to a
Product or [...***...] Product in any country in the Territory, the first sale, transfer or disposition for value or for end use or consumption of such Product or [...***...] Product, as applicable, in such country after Marketing
Authorization has been received in such country. 
 1.30 “FTE Costs” means an amount equal to the product of
the FTE Rate and actual hours worked by Zymeworks FTEs on the Research Program. 
 1.31 “FTE Rate” means the
annual compensation rate for an FTE, which shall be $[...***...] (USD) as of the Effective Date. The FTE Rate shall be subject to an annual adjustment equal to the change in the consumer price index for such Calendar Year as reported by United
States Bureau of Labor Statistics. 
 1.32 “FTE” means the equivalent of a full-time employee’s work time over
an accounting period (including normal vacations, sick days and holidays) based on [...***...]. The portion of an FTE year devoted by an employee to activities under the Research Program shall be determined by dividing (a) the number of
hours during any accounting period devoted by such individual to such activities by (b) the product of eight (8) hours * the number of Business Days during such accounting period. 

1.33 “GLP” means consistent with good laboratory practices as set forth under Applicable Law, including as set forth
in 21 C.F.R., Part 58. 
 1.34 “IND” means an investigational new drug application, clinical trial application, or
similar application, filed with, and accepted by, a Regulatory Authority in any country or group of countries prior to beginning Clinical Trials in that country or in that group of countries. 

1.35 “Invention” means any Know-How, composition of matter, article of
manufacture or other subject matter, whether patentable or not, that is conceived or reduced to practice under and as a result of any work performed under the Agreement, including any work performed pursuant to the Research Program. 

1.36 “Joint Invention” means any Invention conceived or reduced to practice jointly by one or more employees of
DS or its Affiliate or a Third Party acting under authority of DS or its Affiliate, on the one hand, and one or more employees of Zymeworks or its Affiliate or a Third Party acting under authority of Zymeworks or its Affiliate, on the other hand.

 1.37 “Joint Patent Rights” means all Patent Rights claiming a Joint Invention. 

1.38 “Know-How” means all technical information, know-how, data, inventions, discoveries, trade secrets, specifications, instructions, processes, formulae, methods, protocols, expertise and other technology applicable to formulations, compositions or products or
to their manufacture, development, registration, use or marketing or to methods of assaying or testing them, and all biological, chemical, pharmacological, biochemical, toxicological, pharmaceutical, physical and analytical, safety, quality control,
manufacturing, preclinical and clinical data relevant to any of the foregoing. For clarity, Know-How excludes Patent Rights and materials. The scope of disclosure of
Know-How is handled in accordance with Section 2.2.2(a) (with respect to DS Know-How) and Section 3.1.5. 

  
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 1.39 “Marketing Authorization” means all approvals from the
relevant Regulatory Authority necessary to initiate marketing and selling a product (including a Product or [...***...]Product) in any country. For clarity, unless necessary to initiate marketing and selling of a product in a particular
country, Marketing Authorization shall not include pricing or reimbursement approval. 
 1.40 “[...***...]
Antibody” means an antibody or an antibody analogue, generated through the application of the Zymeworks Platform, that contains independent binding sites Directed To [...***...]. 

1.41 “Net Sales” means the gross amount invoiced by DS or its Related Parties for sales or other transfer of Product
to a Third Party, less the following deductions to the extent included in the gross invoiced sales price with respect to such sales: 

1.41.1 any [...***...] and [...***...], and other usual and customary [...***...]; 

1.41.2 [...***...] and [...***...] granted to [...***...], their respective [...***...], adjustments arising
from [...***...]; 
 1.41.3 [...***...]; 

1.41.4 [...***...] to the extent relating to the Product; 

1.41.5 [...***...] actually allowed or paid for [...***...], to the extent included in the gross sales price; and 

1.41.6 [...***...], in each case to the extent not reimbursed. 

Each of the foregoing deductions shall be determined as incurred in the ordinary course of business in type and amount consistent with good
industry practice and in accordance with applicable accounting requirements on a basis consistent with DS’ audited consolidated financial statements. All discounts, allowances, credits, rebates, and other deductions shall be fairly and
equitably allocated to the Product(s) and other product(s) of DS and its Related Parties such that the Product(s) does not bear a disproportionate portion of such deductions. In the case of [...***...]. 

With respect to sales of a particular Combination Product, and on a
country-by-country basis, the “Net Sales” for royalty purposes hereunder shall be calculated by multiplying the actual Net Sales (calculated in the manner
described above) of such Combination Product by the fraction A/B, in which A is the invoice price of the Antibody of the same strength and in the same quantity as contained in the Combination Product, sold separately in the same period without the
other active ingredient(s) in the same country of sale as the Combination Product, and B is the invoice price of the Combination Product sold in the same period in such country. All invoice prices of the Antibody and the Combination Product shall be
calculated as the average invoice price of such active ingredients during the applicable accounting period for which the Net Sales are being calculated. If, on a
country-by-country basis, no separate sale of the Antibody in the same strength as contained in the Combination Product, sold separately without other active
ingredient(s), is made in such country during the applicable accounting period, or if 

  
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 CONFIDENTIAL 
  

 
the invoice price for the Antibody cannot be determined for an accounting period, then the “Net Sales” for royalty purposes hereunder for sales of such Combination Product in each such
country shall be determined by multiplying the Net Sales (calculated in the manner described above) of such Combination Product in such country by a fraction, determined in good faith by mutual agreement of the Parties, that reflects the relative
contribution in value that the Antibody contained in the Combination Product makes to the total value of such Combination Product to the end user in such country. 

1.42 “Option Term” means the period commencing on the initiation of the Research Program and expiring on the
earliest of: (a) DS’ exercise of the Option, (b) the date that is [...***...] after the termination of the Research Program Term, and (c) the date on which the [...***...]. 

1.43 “Patent Rights” means the rights and interests in and to issued patents and pending patent applications
(which, for purposes of this Agreement, include certificates of invention, applications for certificates of invention and priority rights) in any country or region, including all provisional applications, substitutions, continuations, continuations-in-part, continued prosecution applications including requests for continued examination, divisional applications and renewals, and all letters patent or
certificates of invention granted thereon, and all reissues, reexaminations, extensions (including pediatric exclusivity patent extensions), term restorations, renewals, substitutions, confirmations, registrations, revalidations, revisions and
additions of or to any of the foregoing, in each case, in any country. 
 1.44 “Person” means any individual,
corporation, company, partnership, association, joint-stock company, trust, unincorporated organization or government or political subdivision thereof. 

1.45 “Phase I Clinical Trial” means a study in humans which provides for the first introduction into humans of a
product, conducted in normal volunteers or patients to generate information on product safety, tolerability, pharmacological activity or pharmacokinetics, or otherwise consistent with the requirements of U.S. 21 C.F.R. §312.21(a) or its foreign
equivalents. 
 1.46 “Phase II Clinical Trial” means a study in humans of the safety, dose
ranging and efficacy of a product, which is prospectively designed to generate sufficient data (if successful) to commence a Phase III Clinical Trial or to file for accelerated approval, or otherwise consistent with the requirements of U.S. 21
C.F.R. §312.21(b) or its foreign equivalents. 
 1.47 “Phase III Clinical Trial” means a
controlled study in humans of the efficacy and safety of a product, which is prospectively designed to demonstrate statistically whether such product is effective and safe for use in a particular indication in a manner sufficient to file for
Marketing Authorization, or otherwise consistent with the requirements of U.S. 21 C.F.R. §312.21(c) or its foreign equivalents. 

1.48 “Product” means a pharmaceutical preparation in final form containing one or more Antibody(ies) but no other
antibody made using the Zymeworks Platform. For clarity, a Product includes any formulation, delivery device, dispensing device or packaging required for effective use of the Product. 

  
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 1.49 “Product Combination” means a Product that contains one
or more active agents that are not Antibodies (e.g., one or more antibodies that are not Antibodies and/or one or more chemotherapeutics) in addition to an Antibody. 

1.50 “Regulatory Authority” means the FDA or any counterpart of the FDA outside the United States, or other
national, supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity with authority over the distribution, importation, exportation, manufacture, production, use, storage,
transport, clinical testing or sale of a pharmaceutical product (including a Product or [...***...] Product), which may include the authority to grant the required reimbursement and pricing approvals for such sale. 

1.51 “Related Party” means each Party, its Affiliates, and their respective licensees or sublicensees hereunder (which
term excludes any Third Parties to the extent functioning as distributors), as applicable. In no event shall Zymeworks be a Related Party with respect to DS or DS be a Related Party with respect to Zymeworks. 

1.52 “Research Antibodies” means any and all antibodies or antibody analogues, including Fc or Fab components
thereof, derived and generated from the Research Sequence Pairs through the application of the Zymeworks Platform pursuant to the Research Program. For clarity, all Research Antibodies shall be [...***...] Antibodies. 

1.53 “Research Program Patent Rights” means any and all Patent Rights claiming an Invention that
are Controlled by either Party or their respective Affiliates. 
 1.54 “Research Sequence Pairs” means the Sequence
Pairs agreed upon by the Parties as set forth on Exhibit 1.54, which are Directed To the Research Target Pair and shall be the Sequence Pairs that are the subject of the Research Program. 

1.55 “Research Target Pair” means the Target Pair set forth on Exhibit 1.55. 

1.56 “Sequence” means an antibody nucleic acid or amino acid sequence corresponding [...***...] that is Directed
To a Target. 
 1.57 “Sequence Pair” means a pair of Sequences, each of which is Directed To
[...***...]. 
 1.58 “[...***...]” means any clinically relevant [...***...] (or portion thereof). 

1.59 “Target Pair” means any two Targets in combination. 

1.60 “Territory” means all of the countries and territories in the world. 

1.61 “Third Party” means any Person other than DS or Zymeworks or an Affiliate of DS or Zymeworks. 

1.62 “Third Party Costs” means the actual reasonable, documented costs associated with subcontractors
and other Third Party expenses incurred by Zymeworks with respect to the Research Program. 

  
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 1.63 “United States” or “US” means the United
States of America and its territories and possessions. 
 1.64 “USD” and “$” mean United States
dollars. 
 1.65 “Valid Patent Claim” means any claim of (a) an issued and unexpired patent or
(b) a pending patent application, in each case included within (i) the Zymeworks Patent Rights, which are necessary for or used by DS or its Related Parties to carry out the Research Program or to develop, manufacture or commercialize
Antibodies or Products, for purposes of Section 5.7.2 and the Product Royalty Term, (ii) the Research Program Patent Rights, which are necessary for or used by DS or its Related Parties to carry out the Research Program or to develop,
manufacture or commercialize Antibodies or Products, for purposes of Section 5.7.2 and the Product Royalty Term, or (iii) the DS Patent Rights, which are necessary for or used by Zymeworks or its Related Parties to carry out the Research
Program or to develop, manufacture or commercialize [...***...] Antibodies or [...***...] Products, for purposes of Section 5.8.2 and the [...***...] Product Royalty Term; provided that such claim has not been abandoned,
revoked or held unenforceable, invalid or unpatentable by a court or other government body of competent jurisdiction with no further possibility of appeal and which claim has not been disclaimed, denied or admitted to be invalid or unenforceable
through reissue, re-examination or disclaimer or otherwise. A claim within a pending patent application that has been pending issuance for more than [...***...] from the date of filing of the earliest
priority patent application to which such pending patent application is entitled shall not be a Valid Patent Claim, unless and until it issues. 

1.66 “Zymeworks Intellectual Property” means the Zymeworks Patent Rights and the Zymeworks Know-How. 
 1.67 “Zymeworks
Know-How” means all Know-How, which: (a) is Controlled by Zymeworks as of the Effective Date or during the Term of the Agreement, (b) is not
generally known, and (c) is reasonably necessary or useful to DS in: (i) carrying out the activities assigned to it under the Research Program or (ii) developing, manufacturing or commercializing Antibodies. 

1.68 “Zymeworks Patent Rights” means any and all Patent Rights that are Controlled by Zymeworks or its
Affiliates (including Patent Rights Controlled by Zymeworks claiming Inventions) as of the Effective Date or during the Term of the Agreement, which (a) are necessary or reasonably useful for the use or exploitation of the Zymeworks Platform
for carrying out the Research Program or (b) claim the manufacture, use, sale or importation of any Antibody. 
 1.69
“Zymeworks Platform” means Zymeworks’ proprietary [...***...], alone or in conjunction with Zymeworks’ proprietary EFECTTM [...***...] platform. 

1.70 Additional Definitions. In addition, each of the following definitions shall have the
respective meanings set forth in the section of this Agreement indicated below. 
  

			
	 Definition
	  	 Section/Exhibit

	Accounting Firm	  	6.4.2(a)
	Agreement	  	Preamble

  
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	 Definition
	  	 Section/Exhibit

	Agreement Payments	  	6.3
	Audited Party	  	6.4.2(a)
	Auditing Party	  	6.4.2(a)
	Biophysical Characterization Requirements	  	4.4(e)
	[...***...] Binding Domain Improvements	  	7.1.1
	[...***...] License	  	2.2.2(a)
	[...***...] Royalty	  	5.8.1
	[...***...] Royalty Term	  	5.8.2
	[...***...] Survival Sections	  	10.1.4
	Claims	  	13.1
	Clinical Trial Milestones	  	5.5
	Code	  	11.4
	Commercialization Milestone Event	  	5.6
	Commercialization Milestone Payment	  	5.6
	Commercial License	  	2.1.2
	Commercial Sublicense	  	2.2.2(c)
	Competing [...***...]	  	7.3.1
	Competing Infringement	  	7.3.1
	Competing Product Infringement	  	7.3.1
	Confidentiality Agreement	  	14.13
	Controlling Party	  	7.3.5
	Development Milestone Event	  	5.5
	Development Milestone Payment	  	5.5
	Development Period	  	3.3.1
	Dispute	  	14.5.1
	DS	  	Preamble
	DS Indemnified Party	  	13.1
	DS Sequence Pair	  	2.1.2
	Effective Date	  	Preamble
	Excluded Claim	  	14.5.5
	Indemnified Party	  	13.3.1
	Indemnifying Party	  	13.3.1
	JSC	  	4.3
	JSC Chair	  	4.3
	Losses	  	13.1
	Notice of Dispute	  	14.5.1
	Option	  	2.1.2
	Option Exercise Fee	  	5.3
	Parties	  	Preamble
	Party	  	Preamble
	Product Royalty	  	5.7.1
	Product Royalty Term	  	5.7.2
	Product-Specific Inventions	  	7.1.3
	prosecution	  	7.2.1

  
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	 Definition
	  	 Section/Exhibit

	Research Program	  	3.1.1
	Research Program Leader	  	4.1
	Research Program Term	  	3.1.2
	Royalty Term	  	5.8.2
	Rules	  	14.5.1
	Sublicense Notice	  	2.2.2(c)
	Swap Notice	  	3.4
	Taxes	  	6.3
	Term	  	10.1.1
	Workplan	  	3.1.3
	Zymeworks	  	Preamble
	Zymeworks Indemnified Party	  	13.2
	Zymeworks Platform Improvements	  	7.1.1

 1.71 Interpretation. The captions and headings to this Agreement are for convenience
only, and are to be of no force or effect in construing or interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Articles, Sections or Exhibits mean the particular Articles, Sections or Exhibits
to this Agreement and references to this Agreement include all Exhibits hereto. In the event of any conflict between the main body of this Agreement and any Exhibit hereto, the main body of this Agreement shall prevail. Unless context otherwise
clearly requires, whenever used in this Agreement: (a) the words “include” or “including” shall be construed as incorporating, also, “but not limited to” or “without limitation;” (b) the word
“day” or “year” means a calendar day or year unless otherwise specified; (c) the word “notice” shall mean notice in writing (whether or not specifically stated) and shall include notices, consents, approvals and
other written communications contemplated under this Agreement; (d) the words “hereof,” “herein,” “hereby” and derivative or similar words refer to this Agreement as a whole and not merely to the particular
provision in which such words appear; (e) the words “shall” and “will” have interchangeable meanings for purposes of this Agreement; (f) the word “or” shall have the inclusive meaning commonly associated with
“and/or”; (g) provisions that require that a Party, the Parties or a committee hereunder “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in
writing, whether by written agreement, letter, approved minutes or otherwise; (h) words of any gender include the other gender; (i) words using the singular or plural number also include the plural or singular number, respectively;
(j) references to any specific law, rule or regulation, or article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement law, rule or regulation thereof; (k) neither Party or
its Affiliates shall be deemed to be acting “under authority of” the other Party. 
 2. GRANT OF LICENSES 

2.1 Licenses and Rights to DS. Subject to the terms and conditions of this Agreement, 

2.1.1 Research License. During the Research Program Term, Zymeworks hereby grants to DS a non-exclusive, worldwide, royalty-free, research and development license 

  
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under the Zymeworks Intellectual Property solely (a) to perform those activities assigned to DS under the Research Program and (b) to otherwise perform
pre-clinical research and development with respect to the Research Antibodies. The foregoing license shall include the right to grant sublicenses to DS’ Affiliates or Third Parties and to the extent
reasonably necessary to have activities performed under the Research Program on DS’ behalf; provided that DS shall (i) notify Zymeworks prior to any sublicensee (excluding its Affiliates) being so authorized, which notice shall
identify the particular sublicensee and the activities to be performed thereby and (ii) be and remain responsible to Zymeworks for the compliance of each such Affiliate and sublicensee with the applicable terms and conditions hereunder. For
clarity, the foregoing license does not include the right to conduct clinical research (including any Clinical Trials) with respect to any Research Antibody or to sell or otherwise commercialize Research Antibodies or products incorporating the
Research Antibodies. During the Research Program Term, Zymeworks will not [...***...], provided that Zymeworks may use, and grant licenses to, Third Party contractors for contract research, contract testing and otherwise as reasonably
necessary to fulfill its obligations under the Workplan. 
 2.1.2 Option; Commercial License. Zymeworks
hereby grants to DS an option (the “Option”), with respect to a single Research Sequence Pair (which, upon the exercise of such Option in accordance with this Section 2.1.2, shall become the “DS Sequence
Pair”), to obtain an exclusive license under the Zymeworks Intellectual Property (including Zymeworks’ interest in Joint Inventions) to (a) make, use, and import, and perform other activities (which shall include the right to
research, develop, manufacture, store, transport, export, and have someone perform such activities on DS’ behalf, but not to sell or offer for sale) for, Antibodies for incorporation into Products and (b) make, use, sell, offer to sell and
import and perform other commercialization activities (which shall include the right to research, develop, manufacture, store, transport, export, market, promote, and have someone perform such activities on DS’ behalf) for, such Products, in
each case, (a) and (b), in the Field in the Territory (the “Commercial License”). DS may exercise the Option for a DS Sequence Pair at any time during the Option Term by providing Zymeworks with written notice of such exercise,
which notice shall identify which Research Sequence Pair is to be the DS Sequence Pair, and paying Zymeworks the Option Exercise Fee in accordance with Section 5.3. For clarity, prior to the exercise of the Option and payment of the Option
Exercise Fee, DS shall not sell or otherwise commercialize Products or other products incorporating the Research Antibodies, or conduct any clinical development (including any Clinical Trials) of Products or other products incorporating the Research
Antibodies. Upon DS’ exercise of the Option and payment to Zymeworks of the Option Exercise Fee during the Option Term, Zymeworks shall grant, and hereby grants (effective upon such exercise and payment), to DS the Commercial License. If, after
DS has exercised the Option and Zymeworks has granted DS the Commercial License, [...***...], DS may notify Zymeworks, and the Parties may discuss the terms on which Zymeworks would grant DS the right to [...***...], including the
payment terms that would apply. Further, upon the expiration of the Research Program Term, DS’ rights with respect to the Research Sequence Pairs and Research Antibodies under Section 2.1.1 shall terminate, and any further research of
Antibodies and Products by or on behalf of DS shall be conducted pursuant to the Commercial License, if granted. 

  
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 2.1.3 Sublicenses. The Commercial License shall include the right to
grant sublicenses (including to Affiliates and Third Parties) through multiple tiers, provided that each sublicense granted by DS shall be consistent with the terms and conditions of this Agreement. DS shall (a) provide Zymeworks with
prompt notice of any such sublicenses that it grants (except for the sublicenses to DS’ Affiliates), identifying the sublicensee and the scope of such sublicensee’s rights/responsibilities and (b) shall be and remain responsible to
Zymeworks for the compliance of each sublicensee with the applicable terms and conditions hereunder. DS may provide the notice described in clause (a) above by providing Zymeworks with a copy of the agreement granting such sublicense, which
copy may be redacted to remove any provisions not necessary to determining compliance with this Agreement. 
 2.1.4 Changes to
DS Sequence Pair. At any time prior to the [...***...], DS shall have the right to swap the DS Sequence Pair, without any additional fee or payment, for a replacement Research Sequence Pair, which, subject to gatekeeping in accordance
with Sections 3.4 and 3.5, shall become the DS Sequence Pair; provided that any given time, there may be no more than one (1) DS Sequence Pair. 

2.1.5 Active Development. DS’ exclusivity, rights and licenses under the Commercial License will automatically
expire if DS ceases all research and development of the Antibodies and Products for a period of [...***...]. 
 2.2 Licenses to
Zymeworks. Subject to the terms and conditions of this Agreement, 
 2.2.1 Conduct of the Research
Program. DS hereby grants Zymeworks a license to make, use and otherwise exploit subject matter within the Know-How and Patents Controlled by DS or its Affiliates solely for Zymeworks to perform those
activities assigned to it under the Research Program or otherwise cooperate with DS hereunder. The license granted under this Section 2.2.1 shall include the right to sublicense to subcontractors to the extent reasonably necessary to conduct
the Research Program; provided that Zymeworks shall be and remain responsible to Zymeworks for the compliance of each such subcontractor with the applicable terms and conditions hereunder. 

2.2.2 [...***...] Binding Domain.  

(a) [...***...] License. DS hereby grants to Zymeworks a non-exclusive,
worldwide license, including the right to grant and authorize sublicenses, under the DS Intellectual Property to research, develop, make, have made, use, sell, import, export and otherwise commercialize [...***...] Antibodies and
[...***...] Products in the Field and otherwise exploit the [...***...] Binding Domain (the “[...***...] License”). Zymeworks may commercialize up to three (3) [...***...]Products pursuant to the foregoing
license. DS shall disclose to Zymeworks in writing and/or in electronic format the DS Know-How (a) which exists as of the Effective Date, within [...***...] of the Effective Date and (b) that
is generated during the Research Program Term, on a semi-annual basis thereafter; provided that if and when Zymeworks grants a Commercial Sublicense or assigns its right under Section 14.1 under the DS Intellectual Property to develop and
commercialize a [...***...]Product to such Third Party, DS’ obligations to disclose 

  
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DS Know-How to Zymeworks under this Section 2.2.2(a) shall terminate. Any DS Know-How that DS initially discloses
to Zymeworks orally or visually shall be reduced to writing or an electronic format and provided to Zymeworks in such format, promptly and in any event within [...***...] of the initial oral or visual disclosure. For so long as DS retains
either the license under Section 2.1.1 or exclusive rights under the Commercial License, Zymeworks agrees not to exercise the [...***...] License to develop or commercialize [...***...] Antibodies or [...***...] Products
Directed To the Research Target Pair; provided that the foregoing restriction shall not apply with respect to any such antibodies or products Directed To the Research Target Pair that are being developed or commercialized (a) by an Acquiring
Entity prior to its acquisition of Zymeworks or (b) by a Third Party that is acquired by Zymeworks after the Effective Date, prior to such acquisition. Zymeworks will use commercially reasonable efforts to research, develop and commercialize
[...***...] Antibodies and [...***...] Products. 
 (b) Reports. Prior to granting any sublicenses under
the [...***...] License to Third Parties to develop and commercialize [...***...] Antibodies and [...***...] Product, Zymeworks will provide DS with semi-annual written reports summarizing Zymeworks’ research and development
activities with respect to the [...***...] Antibodies and [...***...] Products. Such reports shall be Zymeworks’ Confidential Information, subject to the protections of Article 9, and may be redacted, at Zymeworks’ sole
discretion, to exclude any information regarding any [...***...] Product, the other [...***...], or any Sequences other than the [...***...] Binding Domain from which the [...***...] Antibodies are generated and derived. If
DS provides Zymeworks with written notice of [...***...] Antibodies or [...***...] Products, Zymeworks will provide DS with the information of such [...***...] Antibodies and [...***...] Products which is reasonably necessary
for DS to [...***...] of such [...***...] Antibodies or [...***...] Products, and the Parties shall discuss in good faith a potential [...***...] related to such [...***...] Antibodies or [...***...] Products.
Zymeworks’ obligation to provide reports pursuant to this Section 2.2.2(b) after Zymeworks grants a sublicense under the [...***...] License to a Third Party to develop, manufacture or commercialize such [...***...] Product shall be
limited to providing DS with annual high-level progress summaries which include, to the extent Zymeworks has such information, the then current development status and the material events of the commercialization activities with respect to each
[...***...] Product that enable DS to forecast amounts payable under this Agreement. 
 (c) Commercial
Sublicenses. In the event, either after the [...***...], that Zymeworks reaches substantial agreement (as evidenced by a final or near final term sheet, letter of intent or similar document) with a Third Party regarding the material
terms of an agreement granting a sublicense under the [...***...]License to such Third Party to develop and commercialize [...***...] Products (such a sublicense, a “Commercial Sublicense”), Zymeworks shall provide DS
with prompt notice of its desire to grant such Commercial Sublicense (a “Sublicense Notice”), and, upon DS’ request made within [...***...] of receipt of the Sublicense Notice, the Parties will discuss [...***...].
Zymeworks shall only be obligated to provide DS with one Sublicense Notice per [...***...] Product, and such Sublicense Notice shall be provided in connection with the first Commercial Sublicense that Zymeworks decides to offer with respect to
such [...***...] Product that reaches the level of agreement described above. For clarity, this Section 2.2.2(c) does not obligate Zymeworks to [...***...] or prevent Zymeworks from granting a Commercial Sublicense to any Affiliate or
Third Party. 

  
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 2.3 No Implied Licenses. Except as expressly
set forth in this Agreement, neither Party, by virtue of this Agreement, shall acquire any license or other interest, by implication or otherwise, in any materials, Know-How, Patent Rights or other
intellectual property rights Controlled by the other Party or its Affiliates. Subject to the licenses and rights explicitly granted to DS hereunder and the other terms and conditions of this Agreement, Zymeworks will retain all rights under the
Zymeworks Intellectual Property. Subject to the licenses and rights explicitly granted to Zymeworks hereunder and the other terms and conditions of this Agreement, DS will retain all rights under the DS Intellectual Property. 

3. RESEARCH PROGRAM AND DEVELOPMENT AND 

COMMERCIALIZATION OF PRODUCTS 

3.1 Research Program.

3.1.1 General. DS and Zymeworks shall collaborate to conduct a program to develop [...***...] Antibodies generated
and derived from the Research Sequence Pairs, in accordance with the Workplan and as otherwise described in this Section 3.1 (the “Research Program”). The Research Program will cover research activities up to and
[...***...]. In addition to the activities to be performed by the Parties pursuant to the Workplan, DS will conduct, as part of the Research Program, the [...***...] and [...***...] of the antibody for [...***...] together
with or after conducting the research under the Workplan. The Research Program shall be subject to the oversight of the JSC. 
 3.1.2
Research Program Term. The Research Program shall commence on the Effective Date and shall conclude [...***...] months thereafter (such period, the “Research Program Term”). The Research
Program Term may be extended upon mutual written agreement of the Parties. 
 3.1.3 Workplan. The Research Program,
other than the conduct of the [...***...] and [...***...] of the antibody for [...***...]thereunder, shall be conducted by DS and Zymeworks collaboratively in accordance with the written workplan attached hereto as Exhibit 3.1.3
(the “Workplan”), which may be amended from time to time with the mutual written consent of the Parties, such consent not to be unreasonably withheld, conditioned or delayed. Without limiting the foregoing, during the Research
Program Term, DS shall have the right to swap one or more Research Sequence Pairs for a replacement Sequence Pair, subject to gatekeeping in accordance with Sections 3.4 and 3.5; provided that any given time during the Research Program Term, no more
than [...***...] Research Sequence Pairs shall be subject to the license set forth in Section 2.1.1. 
 3.1.4
Conduct of Research Program. Each Party: 
 (a) shall use commercially reasonable efforts to
conduct its responsibilities under the Research Program, as assigned to it under the Workplan and in this Agreement, and to achieve the objectives and timelines within the Workplan; 

  
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 (b) shall conduct the Research Program in compliance with all Applicable Laws; and

 (c) may utilize the services of its Affiliates and Third Parties to perform those activities assigned to it under the Research
Program; provided that such Party shall remain responsible for the performance of such Affiliates and Third Parties hereunder. 

3.1.5 Exchange of Know-How and
materials. 
 (a) Without limiting Section 3.2, promptly after the Effective Date, and on an ongoing basis
during the conduct of the Research Program, (i) Zymeworks shall disclose to DS in writing and/or in an electronic format Zymeworks Know-How, and (ii) DS shall disclose to Zymeworks in writing and/or
in electronic format any Know-How Controlled by DS that is reasonably necessary for Zymeworks’ performance of its obligations pursuant to the Workplan, in each case (i) and (ii) as specified in the
Workplan. 
 (b) To the extent any physical materials need to be delivered to a Party as may be determined by the JSC under this
Agreement to enable that Party to perform its obligations under the Research Program the delivering Party shall arrange for prompt delivery of such physical materials in the manner determined by the JSC. The Party receiving such physical materials
shall use the same for the sole purpose of conducting activities under the Research Program or otherwise exercising its rights and fulfilling its obligations hereunder and treat all such physical materials as Confidential Information of the
delivering Party. Unless expressly agreed otherwise, physical materials so supplied by a Party to another Party pursuant to this Agreement shall be “AS IS” without warranty of any kind and shall not be used in any human application. 

3.2 Records and Reports.

3.2.1 Records. Each Party shall maintain records, for so long as necessary to comply with Applicable Laws or reasonably
necessary to support the prosecution, maintenance and enforcement of intellectual property rights (including Patent Rights) in accordance with Article 7 below, regarding its conduct of the Research Program after the applicable activity, in
sufficient detail and in good scientific manner appropriate for patent and regulatory purposes, which shall fully and properly reflect the work done and results achieved by such Party in the performance of the Research Program. 

3.2.2 Copies and Inspection of Records. During the period that such records are required to be maintained pursuant to
Section 3.2.1, each Party shall have the right, during normal business hours and upon reasonable notice, to inspect and copy all such records referred to in Section 3.2.1, solely for purposes of exercising its rights or fulfilling its
obligations under this Agreement. At the other Party’s reasonable request, each Party shall provide to the other Party: (a) copies of the records described in Section 3.2.1, at the requesting Party’s expense and (b) reports
of the activities conducted by or under authority of such Party in the conduct of the Workplan, including the results thereof. DS shall have the right to arrange with Zymeworks for its employee(s) involved in the activities contemplated hereunder to
visit the offices and laboratories of Zymeworks during normal business hours and upon reasonable notice, and to discuss the 

  
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Research Program work and its results in detail with the technical personnel; provided that any such visit shall occur no more frequently than once per Calendar Quarter and shall be at
DS’ expense. 
 3.3 Development and Commercialization by DS. If DS exercises the Option, DS (itself or through its
Affiliates or Third Parties) shall have the sole responsibility and exclusive right to further develop, manufacture and commercialize Products upon the conclusion of the Research Program, and DS will use commercially reasonable efforts to develop
and commercialize Products. DS shall provide Zymeworks with written reports summarizing the then current development status of each Product as set forth in this Section 3.3 below; provided that Section 3.3.2 shall apply only if DS
exercises the Option. 
 3.3.1 Development. With respect to each Product hereunder, for so long as DS is conducting
development activities with respect to such Product (with respect to such Product, the “Development Period”), DS shall keep Zymeworks reasonably informed as to such activities for such Product by providing to Zymeworks on a
semiannual basis a written report describing in reasonable detail such activities conducted during the previous semiannual period and the activities planned to be conducted during the upcoming semiannual period. Without limiting the foregoing, DS
agrees to promptly notify Zymeworks of any modifications to such plans that are likely to result in the material delay of more than [...***...] days of any Development Milestone Event (as described in Section 5.5). In the case that
Zymeworks has any questions or comments about the semiannual reports provided by DS under this Section, DS will promptly provide more details about them by email, conference call, or in person, as agreed by the Parties (such agreement not to be
unreasonably withheld, conditioned or delayed). Each Party shall bear its own costs incurred in connection with such meetings (e.g. travel expenses), if any. 

3.3.2 Commercialization. In addition to the reports of Product Royalties set forth in Section 6.1.2, DS shall keep
Zymeworks reasonably informed as to the material events of its commercialization activities with respect to Products (including pre-launch and launch activities), if any, by providing Zymeworks with annual
high-level progress summaries that enable Zymeworks to forecast amounts payable under this Agreement. 
 3.4 Replacement of Sequence
Pairs 
 3.4.1. Subject to gatekeeping pursuant to Section 3.5, DS may select, in accordance with this
Section 3.4, without any additional fee or payment: (a) during the Research Program Term, one or more Sequence Pairs Directed To the Research Target Pair to replace a corresponding number of Research Sequence Pairs and (b) prior to
the filing of the first IND for a Product, a replacement Research Sequence Pair that would become the DS Sequence Pair subject to the Commercial License. To designate a replacement Research Sequence Pair or DS Sequence Pair, DS shall provide
Zymeworks with written notice of such replacement Sequence Pair, setting forth the Sequences included in such Sequence Pair and the Research Sequence Pair or DS Sequence Pair, as applicable, that such Sequence Pair is intended to replace, and
requesting that such Sequence Pair be submitted to gatekeeping (each, a “Swap Notice”). The designated Sequence Pair shall be subject to gatekeeping pursuant to Section 3.5 below, and if a designated Sequence Pair is available
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Sequence Pair or the DS Sequence Pair, as applicable based on the applicable Swap Notice. For clarity, only one (1) DS Sequence Pair, together with Antibodies derived and generated from such
DS Sequence Pair and Products incorporating such Antibodies, shall be subject to the Commercial License; and only [...***...] Sequence Pairs may be Research Sequence Pairs at any given time during the Research Program Term. 

3.5 Sequence Pair Replacement Limitations.

3.5.1 DS may select any Sequence Pair Directed To the Research Target Pair as a replacement Research Sequence Pair or replacement DS
Sequence Pair in accordance with Section 3.4 during the Research Program Term or prior to the filing of the first IND for the first Product; provided that, at the time of the selection of such Sequence Pair, Zymeworks is not, as of the
date Zymeworks receives such written notice from DS: 
 (a) contractually obligated to grant, or has not granted, to a Third Party
rights with respect to products incorporating such Sequence Pair; 
 (b) actively and in good faith engaged in negotiations with a
Third Party regarding the development or commercialization of products incorporating such Sequence Pair [...***...]; or 
 (c)
actively performing or has performed activities on its own behalf regarding the development or commercialization of products incorporating such Sequence Pair. 

3.5.2 After receipt of a Swap Notice, Zymeworks shall provide DS with prompt written notice as to whether such Sequence Pair is
available as a replacement Research Sequence Pair or replacement DS Sequence Pair, as applicable, and if such Sequence Pair is unavailable as a Research Sequence Pair or DS Sequence Pair for any of the reasons set forth in Section 3.5.1, the
basis for the unavailability. 
 4. GOVERNANCE 

4.1 Research Program Leader. Within [...***...] days of the Effective Date, DS and Zymeworks will each assign one
(1) employee to serve as primary point of contact between the Parties with respect to the Research Program (each, a “Research Program Leader”). The Research Program Leaders shall regularly communicate with each
other to address Research Program-related issues, needs and updates. Either Party, upon prior notice to the other Party, may change its Research Program Leader. 

4.2 Joint Steering Committee. The Parties will establish, as soon as practicable after the Effective Date, a Joint Steering
Committee (the “JSC”) to oversee and coordinate the activities of the Parties under the Research Program. The JSC shall be comprised of two (2) employees from DS and two (2) employees from Zymeworks, or such other equal
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Party shall appoint its respective representatives to the JSC from time to time, and may change its representatives, in its sole discretion, effective upon notice to the other Party designating
such change. Representatives from each Party shall have appropriate technical credentials, experience and knowledge pertaining to and ongoing familiarity with the Research Program. One (1) of the members of the JSC appointed by DS shall be
designated the JSC chairperson (the “JSC Chair”). The JSC Chair will be responsible for calling meetings of the JSC, circulating agenda and performing administrative tasks required to assure efficient operation of the JSC.
The JSC shall be promptly disbanded upon completion of the Research Program. 
 4.3 JSC Meetings. The JSC shall meet in
accordance with a schedule established by mutual written agreement of the Parties no less frequently than once every [...***...] until expiration of the Research Program Term. Upon the expiration of the Research Program Term, the JSC will
disband. The location for meetings shall alternate between Zymeworks and DS facilities (or such other location as is determined by the JSC). Alternatively, the JSC may meet by means of teleconference, videoconference or other similar means. As
appropriate, additional employees or consultants may from time to time attend the JSC meetings as nonvoting observers, provided that any such consultant shall agree in writing to comply with the confidentiality obligations substantially
similar to those under this Agreement; and provided further that no Third Party personnel may attend unless otherwise agreed by both Parties. Each Party shall bear its own expenses related to the attendance of the JSC meetings by its
representatives. Each Party may also call for special meetings to resolve particular matters requested by such Party upon [...***...] prior written notice to the other Party. The JSC Chair or his/her designee shall keep minutes of each JSC
meeting that records in writing all decisions made, action items assigned or completed and other appropriate matters. The JSC Chair or his/her designee shall send meeting minutes to all members of the JSC promptly after a meeting for review. Each
member shall have [...***...] from receipt in which to comment on and to approve/provide comments to the minutes (such approval not to be unreasonably withheld, conditioned or delayed). If a member, within such time period, does not notify the
JSC Chair that s/he does not approve of the minutes, the minutes shall be deemed to have been approved by such member. Each Party’s JSC members may designate another staff member of such Party who will coordinate the administrative work
surrounding JSC, including sending the notice of holding JSC, creating the draft of minutes, or distributing the minutes. 
 4.4 JSC
Functions. The JSC’s responsibilities with respect to the Research Program are as follows: 
 (a) Overseeing and
coordinating the activities of each Party (including those of its Affiliates and Third Parties acting under its authority) under the Research Program; 

(b) Periodically reviewing the progress of the Research Program; 

(c) Reviewing and updating the Workplan (including those activities to be performed by each Party thereunder); and 

(d) Fulfilling such other responsibilities as may be allocated to the JSC by mutual written agreement of the Parties. 

  
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 (e) JSC Disputes. The JSC will endeavor to make decisions
by consensus, with each of DS and Zymeworks’ representatives having, collectively, one vote. If consensus is not reached by the Parties’ representatives pursuant to such vote, JSC Chair shall have the right to make the final decision with
respect to such dispute; provided that JSC Chair may not exercise such final decision right to require Zymeworks to expend any resources, or to modify the biophysical characterization requirements set forth in Workplan for the Research
Antibodies (the “Biophysical Characterization Requirements”), unless Zymeworks expressly agrees. For clarity and notwithstanding the creation of the JSC, each Party shall retain the rights, powers and discretion
granted to it hereunder, and the JSC shall not be delegated or vested with such rights, powers or discretion unless such delegation or vesting is expressly provided herein, or the Parties expressly so agree in writing. The JSC shall not have the
power to amend, waive or modify any term of this Agreement, and no decision of the JSC shall be in contravention of any terms and conditions of this Agreement. It is understood and agreed that issues to be formally decided by the JSC are limited to
those specific issues that are expressly provided in the Section 4.4 (c) and (d) of this Agreement and the disputes which relate to the subjects other than those Section (c) or (d) will be handled according to the Section 14.5.
For clarity, the JSC shall also have the authority to make decisions with respect to the coordination of day-to-day activities under Research Program as described in
Section 4.4(a). 
 5. FINANCIAL PROVISIONS 

5.1 Technology Access Fee. In partial consideration of Zymeworks’ granting of the licenses and rights to DS, DS shall pay
to Zymeworks a one-time, non-refundable technology access fee of Two Million US dollars (USD $2,000,000) within [...***...] following the Effective Date. 

5.2 Research Funding. In addition to the fees, milestones and royalties described in this Article 5, DS will provide support for
Zymeworks activities conducted under the Research Program by reimbursing Zymeworks for FTE Costs and Third Party Costs on a quarterly basis during the Research Program Term; provided that such FTE Costs and Third Party Costs are consistent with the
estimates set forth in the Workplan. 
 5.3 Option Exercise Fee. DS will pay to Zymeworks an
Option exercise fee of [...***...] U.S. Dollars (USD $[...***...]) within [...***...] of DS’ sending notice of its exercise of the Option under Section 2.1.2 (the “Option Exercise Fee”).

 5.4 Product-by-Product Basis. For purposes of determining when the Development Milestone Payments and Commercialization
Milestone Payments are payable, (i) Products comprised of different formulations, dosages, or modes of delivery of the same Antibody shall be considered the same Product, and (ii) a Product comprised of a modified Antibody that
[...***...] shall be considered a different Product than the same unmodified Antibody. 

  
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 5.5 Development and Regulatory Milestones. Within [...***...] after the
achievement of each milestone event set forth in the table below for the Product (each, a “Development Milestone Event”), DS shall make the corresponding milestone payment to Zymeworks (each, a “Development
Milestone Payment”). Each Development Milestone Payment shall be payable [...***...] upon the [...***...] of the corresponding Development Milestone Event for such Product. For clarity, the Development Milestone
Payment for the Development Milestone Event [...***...] is not [...***...] but rather is payable [...***...]. In the event that Development Milestone Event 5 is achieved prior to one (1) or more of Development Milestone Events
2-4 (collectively the “[...***...]”), DS shall pay Zymeworks the unpaid Milestone Payment(s) associated with the applicable [...***...], together with the Milestone Payment for
Development Milestone Event 5. For example, [...***...]). 
  

					
	 	  	 Development Milestone Events
	  	Milestone Payments
	1.	  	[...***...]	  	USD $1.0 Million
	2.	  	[...***...]	  	USD $[...***...]
	3.	  	[...***...]	  	USD $[...***...]
	4.	  	[...***...]	  	USD $[...***...]
	5.	  	[...***...]	  	USD $[...***...]
	6.	  	[...***...]	  	USD $[...***...]
	7.	  	[...***...]	  	USD $[...***...]
		  		  	  

		  	Total Possible Development Milestone Payments per Product	  	USD $[...***...]

 5.6 Commercialization Milestones. Within [...***...] after the first achievement of each
milestone event set forth in the table below with respect to a particular Product (each, a “Commercialization Milestone Event”), DS shall make the corresponding milestone payment to Zymeworks (each, a
“Commercialization Milestone Payment”): 
  

					
	 	  	 Commercial Milestone Events
	  	Milestone Payments
	1.	  	[...***...]	  	USD $[...***...]
	2.	  	[...***...]	  	USD $[...***...]
	3.	  	[...***...]	  	USD $[...***...]

  
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	4.	  	[...***...]	  	USD $[...***...]

 For clarity, each of the foregoing Commercial Milestone Payments will be payable [...***...]. In the
event that more than one Commercial Milestone Event is achieved in a given Calendar Year, DS shall pay Zymeworks the Milestone Payment associated with each such Commercial Milestone Event achieved during such Calendar Year. For example,
[...***...] pursuant to this Section 5.5. 
 5.7 Royalties on Products.

5.7.1 Royalty Payments. DS shall pay Zymeworks a royalty (each such royalty payment, a “Product Royalty”) on Net
Sales, on a Product-by-Product basis, at the rates set forth below for the corresponding portion of Annual Net Sales: 

 

							
	 Royalty
Tier
	  	 Annual Net Sales of a
Particular Product
	  	Royalty Rate	 
	A	  	USD $[...***...] to USD $ [...***...] of Annual Net Sales of such Product	  	 	[...***...]%	 
	B	  	Above USD $ [...***...] to USD $ [...***...] of Annual Net Sales of such Product	  	 	[...***...]%	 
	C	  	Above USD $ [...***...] to USD $ [...***...] of Annual Net Sales of such Product	  	 	[...***...]%	 
	D	  	Above USD $ [...***...] to USD $ [...***...] of Annual Net Sales of such Product	  	 	[...***...]%	 
	E	  	Above USD $ [...***...] to USD $ [...***...] of Annual Net Sales of such Product	  	 	[...***...]%	 
	F	  	Above USD $ [...***...] to USD $ [...***...] of Annual Net Sales of such Product	  	 	[...***...]%	 
	G	  	Above USD $ [...***...] of Annual Net Sales of such Product	  	 	10.0%	 

 For clarity, if DS has $[...***...] in Annual Net Sales of a Product in a given Calendar Year, the total
Product Royalties owed to Zymeworks for such Calendar Year would be USD $[...***...]. 
 5.7.2 Royalty Term. The
Product Royalty will be payable on a Product-by-Product and country-by-country basis from
First Commercial Sale of such Product in such country until (i) such Product is no longer Covered by a Valid Patent Claim in such country or 

  
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(ii) ten (10) years after the First Commercial Sale of such Product in such country, whichever is later (the “Product Royalty Term”). 

5.8 Royalties on [...***...]Products. 

5.8.1 Royalty Payments. Zymeworks shall pay DS a royalty (each such royalty payment, a
“[...***...]Royalty”) equal to [...***...] percent ([...***...]%) of [...***...]Net Sales, provided that Zymeworks shall not owe the [...***...] Royalty on [...***...] Net Sales of a
[...***...] Product by DS or its Affiliates or sublicensees, in the event that DS and Zymeworks [...***...] with respect to such [...***...] Product. 

5.8.2 Royalty Term. The [...***...] Royalty will be payable on a [...***...]
Product-by-[...***...] Product and country-by-country basis from First Commercial Sale of such [...***...] Product in
such country until (i) such [...***...] Product is no longer Covered by a Valid Patent Claim within DS Patent Rights in such country or (ii) ten (10) years after the First Commercial Sale of such [...***...] Product in such
country, whichever is later (the “[...***...] Royalty Term” and, together with the Product Royalty Term, the “Royalty Term”) 

6. REPORTS AND PAYMENT TERMS 

6.1 Payment Terms.

6.1.1 Milestone Payments. DS shall provide Zymeworks with notice of the achievement of each Development Milestone Event and
Commercial Milestone Event within [...***...] thereafter and make the corresponding Milestone Payment within [...***...] after such achievement. Successful achievement of Development Milestone Event 1 shall be determined by mutual
agreement of the Parties, such agreement not to be unreasonably withheld, conditioned or delayed. 
 6.1.2 Product Royalties.
During the Product Royalty Term, following the First Commercial Sale of a Product, DS shall furnish to Zymeworks a written report for each Calendar Quarter showing the Net Sales by Product sold by DS and its Related Parties during the reporting
Calendar Quarter and the Product Royalties payable under this Agreement in sufficient detail to allow Zymeworks to verify the amount of Product Royalties paid by DS with respect to such Calendar Quarter, including, on a country-by-country and Product-by-Product basis, the total gross amount invoiced for Product
sold, the Net Sales of each Product, and the Product Royalties (in US dollars) payable and in total for all Products and the manner and basis for any currency conversion in accordance with Section 6.2. Reports shall be due no later than
[...***...]. Product Royalties shown to have accrued by each report provided under this Section 6.1.2 shall be due and payable on the date such report is due. 

6.1.3 [...***...] Product Royalties. During the [...***...] Royalty Term, following the First Commercial Sale
of a [...***...] Product, Zymeworks shall furnish to DS a written report for each Calendar Quarter showing the [...***...] Net Sales by [...***...] Product sold by Zymeworks and its Related Parties during the reporting Calendar
Quarter and the [...***...] Royalties payable under this Agreement in sufficient detail to allow DS to verify the amount of 

  
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[...***...] Royalties paid by Zymeworks with respect to such Calendar Quarter, including, on a
country-by-country and Product-by-Product basis, the total gross amount invoiced for
[...***...] Product sold, the [...***...] Net Sales of each [...***...] Product, and the [...***...] Royalties (in US dollars) payable and in total for all [...***...] Products and the manner and basis for any currency
conversion in accordance with Section 6.2. Reports shall be due no later than (a) with respect to [...***...] Net Sales by Zymeworks, [...***...] and (b) with respect to [...***...] Net Sales by Zymeworks’
Related Parties, [...***...] after Zymeworks receives the corresponding report and payment from such Related Party. [...***...] Royalties shown to have accrued by each report provided under this Section 6.1.3 shall be due and
payable on the date such report is due. 
 6.1.4 Expense Reports. Within [...***...], Zymeworks will provide to DS
(i) an expense report detailing all FTE Costs and Third Party Expenses incurred during such Calendar Quarter, and (ii) an invoice for the amounts owed by DS for FTE Costs and Third Party Expenses for such Calendar Quarter. Zymeworks will
provide supporting documentation for such costs and expenses as reasonably requested by DS. 
 6.1.5 Invoices. Except as
otherwise provided herein, amounts shall be due and payable within [...***...] of receipt of invoice therefor. 
 6.2
Payment Currency / Exchange Rate. All payments to be made under this Agreement shall be made in USD. Payments to Zymeworks shall be made by electronic wire transfer of immediately
available funds to the account of Zymeworks, as designated in writing to DS. Payments to DS shall be made by electronic wire transfer of immediately available funds to the account of DS, as designated in writing to Zymeworks. If any currency
conversion is required in connection with the calculation of amounts payable hereunder, such conversion shall be made in a manner consistent with paying Party’s normal practices used to prepare its audited financial statements for external
reporting purposes; provided that such practices use a widely accepted source of published exchange rates. 
 6.3
Taxes. Each Party shall be responsible for its own tax liabilities arising under this Agreement. Subject to this Section 6.3, each Party shall be liable for all of its income and other taxes (including interest)
(“Taxes”) imposed upon any payments made by the other Party under this Agreement (“Agreement Payments”). If Applicable Laws require the withholding of Taxes, each Party (“Withholding Party”) shall
make such withholding payments in a timely manner and shall subtract the amount thereof from the Agreement Payments. The Withholding Party shall promptly (as available) submit to the other Party appropriate proof of payment of the withheld Taxes as
well as the official receipts within a reasonable period of time. Each Party shall provide the other Party reasonable assistance in order to allow such the other Party to obtain the benefit of any present or future treaty against double taxation or
refund or reduction in Taxes which may apply to the Agreement Payments. Notwithstanding the foregoing, if as a result of a Party assigning this Agreement or changing its domicile additional Taxes become due that would not have otherwise been due
hereunder with respect to Agreement Payments, such Party shall be responsible for all such additional Taxes. 

  
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 6.4 Records and Audit
Rights.
 6.4.1 Records. DS will keep (and will cause its Related Parties to keep) complete, true and
accurate books and records in sufficient detail for Zymeworks to determine payments due to Zymeworks under this Agreement, including Product Royalties, and amounts owed by Zymeworks under this Agreement, including Joint Patent Rights costs.
Zymeworks will keep (and will cause its Related Parties to keep) complete, true and accurate books and records in sufficient detail for DS to determine [...***...] Royalties due to DS under this Agreement. Each Party will keep such books and
records for at least [...***...] following the end of the Calendar Year to which they pertain. 
 6.4.2 Audit
Rights. 
 (a) Each Party (the “Auditing Party”) shall have the right during the
[...***...] described in Section 6.4.1 to appoint at its expense an independent certified public accountant of nationally recognized standing (the “Accounting Firm”) reasonably acceptable to the other Party (the
“Audited Party”) to inspect or audit the relevant records of the Audited Party and its Related Parties to verify that the amount of such payments were correctly determined. The Audited Party and its Related Parties shall each
make its records available for inspection or audit by the Accounting Firm during regular business hours at such place or places where such records are customarily kept, upon reasonable notice from Auditing Party, solely to verify the payments
hereunder were correctly determined. Such inspection or audit right shall not be exercised by the Auditing Party more than once in any Calendar Year and may cover a period ending not more than thirty-six
(36) months prior to the date of such request. All records made available for inspection or audit pursuant to this Section 6.4.2 shall be deemed to be Confidential Information of the Audited Party. The results of each inspection or audit,
if any, shall be binding on both Parties. If the amount of any payment hereunder was underreported, the Audited Party shall promptly (but in any event no later than [...***...] after its receipt of the Accounting Firm’s report so
concluding) make payment to the Auditing Party of the underreported amount. The Auditing Party shall bear the full cost of an audit that it conducts pursuant to this Section 6.4.2 unless such audit discloses an under reporting by the Audited
Party of more than [...***...] percent ([...***...]%) of the aggregate amount of the payments hereunder reportable in any Calendar Year, in which case the Audited Party shall reimburse the Auditing Party for all costs incurred in
connection with such inspection or audit. 
 (b) The Accounting Firm will disclose to the Auditing Party only whether the payments
subject to such audit are correct or incorrect and the specific details concerning any discrepancies. No other information will be provided to the Auditing Party without the prior consent of the Audited Party unless disclosure is required by
Applicable Laws or judicial order. The Audited Party is entitled to require the Accounting Firm to execute a reasonable confidentiality agreement prior to commencing any such audit. The Accounting Firm shall provide a copy of its report and findings
to Audited Party. 

  
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 7. INTELLECTUAL PROPERTY RIGHTS 

7.1 Ownership of Inventions. Ownership of all Inventions, including Patent Rights and other
intellectual property rights with respect to such Inventions, shall be as set forth in this Article 7. Determination of inventorship of Inventions shall be made in accordance with US patent laws. Each Party will continue to own any Patent Rights and
Know-How that it owned prior to the Effective Date or that it creates or obtains outside the scope of this Agreement, or which it licenses to the other Party under this Agreement. 

7.1.1 Certain Improvements. As between the Parties and notwithstanding anything herein to the contrary, (i) DS shall have
and retain ownership of the Research Sequence Pairs (including the entire sequence set forth on Exhibit 1.54), DS Sequence Pair, the [...***...] Binding Domain (including the entire sequence set forth on Exhibit 1.12), and (subject to the
provisions of ownership in Section 7.1 above and Zymeworks’ ownership of the Zymeworks Platform Improvements) the [...***...] Variable Domain; and (ii) Zymeworks shall retain all rights in the Zymeworks Platform and any
Inventions comprising improvements thereto. For clarity, (a) all Inventions comprising antibody mutations created by the Parties or their Related Parties (alone or jointly) that modify or improve the Zymeworks Platform will comprise
improvements thereto (“Zymeworks Platform Improvements”) and will be owned by Zymeworks, subject to the licenses and the Option set forth in Section 2.1; and (b) all Inventions comprising antibody mutations, other than Zymeworks
Platform Improvements, created by the Parties or their Related Parties (alone or jointly) pursuant to this Agreement to the extent that such mutations are within the [...***...] Variable Domain (collectively, “[...***...] Variable
Domain Improvements”) will be owned by DS, subject to the licenses set forth in Section 2.2. For purposes of the foregoing, “[...***...] Variable Domain” defined means an antibody variable region comprising the
[...***...] Binding Domain or a mutated [...***...] Binding Domain described in clause (b) above. 
 7.1.2 Ownership
by Inventorship. Except as otherwise provided in Section 7.1.1, Inventions that are made solely by Zymeworks (and all intellectual property rights therein, including the Patent Rights claiming them) shall be owned solely by Zymeworks;
Inventions that are made solely by DS (and all intellectual property rights therein, including the Patent Rights claiming them) shall be owned solely by DS; and Joint Inventions (and the Joint Patent Rights) shall be owned jointly by the Parties.
Notwithstanding the foregoing, as between the Parties, (x) subject to Zymeworks’ ownership of any Zymeworks Platform Improvements or any portion of the Zymeworks Platform incorporated therein, DS will own (i) sequences of Antibodies
and/or Products, (ii) Antibodies and Products, and (iii) all Inventions comprising Antibodies and/or Products, or Inventions specific to the manufacture or use of the Antibodies or Products, in each case which are made or generated by or
on behalf of DS or its Related Parties, or by Zymeworks or its Related Parties pursuant to the Research Program; and (y) subject to DS’ ownership of the [...***...] Binding Domain, [...***...] Variable Domain (subject to the
provisions of ownership in Section 7.1 above and Zymeworks’ ownership of the Zymeworks Platform Improvements) or any [...***...] Variable Domain Improvements contained therein, Zymeworks will own all Inventions comprising
[...***...] Antibodies or [...***...] Products made by or on behalf of Zymeworks or its Related Parties. Subject to Article 2, each Party has the right to exploit and grant licenses under its

  
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interest in such Joint Inventions (and the Joint Patent Rights) to any Third Party without the consent of, or accounting to, the other Party. 

7.1.3 Assignment; Further Assurances. DS shall promptly disclose to Zymeworks any and all Zymeworks Platform Improvements made
by or on behalf of DS; and DS shall assign, and hereby assigns, to Zymeworks all rights, title and interest in and to the Zymeworks Platform Improvements. Zymeworks shall promptly disclose to DS any and all i) [...***...] Variable Domain
Improvements made by or on behalf of Zymeworks and ii) Inventions comprising any [...***...] made by or on behalf of Zymeworks in the conduct of the Research Program, in each case that are not Zymeworks Platform Improvements (collectively,
“[...***...]”); and Zymeworks shall assign, and hereby assigns, to DS all rights, title and interest in and to i) the [...***...] Variable Domain Improvements and ii) [...***...]. Each Party agrees to sign, execute and
acknowledge or cause to be signed, executed and acknowledged, at the expense of the requesting Party, any and all documents and to perform such acts as may be reasonably requested by the other Party for the purposes of perfecting the foregoing
assignments. 
 7.2 Patent Prosecution and Maintenance.

7.2.1 Definitions. As used in this Section 7.2, “prosecution” includes (a) all communication and
other interaction with any patent office or patent authority having jurisdiction over a patent application in connection with pre-grant proceedings and (b) interferences, reexaminations, reissues,
oppositions, and the like. 
 7.2.2 Zymeworks Patent Rights. Zymeworks, at Zymeworks’
expense, shall have the sole right to control the preparation, filing, prosecution and maintenance of Zymeworks Patent Rights using patent counsel of Zymeworks’ choice. Zymeworks shall keep DS reasonably informed with respect to the status of
the filing, prosecution and maintenance of the Zymeworks Patent Rights and, upon DS’ request, shall provide DS with copies of material submission documents to any patent office related to the filing, prosecution and maintenance of the Zymeworks
Patent Rights. Zymeworks shall promptly give notice to DS of the grant, lapse, revocation, surrender, invalidation or abandonment of any Zymeworks Patent Rights licensed to DS under this Agreement. 

7.2.3 DS Patent Rights. DS, at DS’ expense, shall have the sole right to control the preparation, filing, prosecution and
maintenance of DS Patent Rights using in-house or external patent counsel of DS’ choice; provided that the Parties will discuss in good faith and coordinate with respect to patent strategy and filings for
the DS Patent Rights; provided however, DS can file the [...***...], but DS shall in all cases [...***...]. DS shall keep Zymeworks reasonably informed with respect to the status of the filing, prosecution and maintenance of the DS
Patent Rights and, upon Zymeworks’ request, shall provide Zymeworks with copies or electronic files of the first draft for material submission documents to be submitted to any patent office related to the filing (except for [...***...],
prosecution and maintenance of the DS Patent Rights for Zymeworks’ review and comment prior to submission. Zymeworks shall provide DS with such comments or notify DS that it has no comment within [...***...] counted from the day on which
Zymeworks receives such copies or files from DS. DS shall consider Zymeworks’ comments with respect to 

  
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the DS Patent Rights in good faith, and shall provide Zymeworks with final copies or electronic files of submissions to any patent office related to the filing, prosecution and maintenance of the
DS Patent Rights. For avoidance of doubt, subject to the foregoing, DS shall have the final right to make decisions in filing, prosecuting and maintenance of the DS Patent Rights. All documents relating to patent filings, prosecution and maintenance
provided by DS to Zymeworks pursuant to this Section 7.2.3 shall be in English. DS shall file the initial patent application with the [...***...] or [...***...] claiming the [...***...] Binding Domain within [...***...]
of the Effective Date, which [...***...] period may be extended upon mutual agreement of the Parties (such agreement not to be unreasonably withheld), if reasonably necessary. If DS fails to make such a filing within such timeframe, Zymeworks
shall have the right to file such an application, and DS will provide all cooperation and documentation reasonably requested by Zymeworks to enable such a filing. DS shall promptly give notice to Zymeworks of the grant, lapse, revocation, surrender,
invalidation or abandonment of any DS Patent Rights licensed to Zymeworks under this Agreement, and, in the case of abandonment, Zymeworks shall have the right, in its discretion, to assume the prosecution and maintenance of such DS Patent Right(s)
in the applicable country(ies). 
 7.2.4 Joint Patent Rights. 

(a) DS shall have the first right to control the preparation, filing, prosecution and maintenance of Joint Patent Rights using patent
counsel reasonably acceptable to Zymeworks. DS shall keep Zymeworks reasonably advised with respect to the status of the filing, prosecution and maintenance of the Joint Patent Rights and shall provide copies or electronic files of the first draft
for material submission documents to any patent office related to the filing, prosecution and maintenance of the Joint Patent Rights to Zymeworks for review and comment at least [...***...], if reasonably possible, prior to the submission
thereof. DS shall consider in good faith any comments from Zymeworks. Zymeworks shall provide DS with such comments or notify DS that it has no comment within [...***...] counted from the day on which Zymeworks receives such copies or files
from DS. DS shall promptly give notice to Zymeworks of the grant, lapse, revocation, surrender, invalidation or abandonment of any Joint Patent Rights. The Parties shall share equally the reasonable costs of DS’ preparation, filing, prosecution
and maintenance of the Joint Patent Rights. DS shall invoice Zymeworks for its share of such costs on a Calendar Quarterly basis. 

(b) DS may elect not to file or to cease prosecution or maintenance of Joint Patent Rights on a country-by-country basis, and if it does so, DS shall give timely notice to Zymeworks. Zymeworks may by notice to DS assume prosecution or maintenance of such Joint Patent Rights at Zymeworks’ expense,
in which case DS shall promptly assign to Zymeworks all of its rights, title and interest in and to such Joint Patents. 
 7.2.5
Cooperation in Prosecution. Each Party shall provide the other Party all reasonable assistance and cooperation in the patent prosecution efforts provided above in Section 7.2, including providing any
necessary powers of attorney and assignments of employees of the Parties and their Affiliates and sublicensees and Third Party contractors and executing any other required documents or instruments for such prosecution. All communications between the
Parties relating to the preparation, filing, prosecution or maintenance of the Zymeworks Patent Rights, DS Patent Rights and Joint Patent Rights, including copies of any draft or final documents or any communications received from or sent to patent
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such Patent Rights, shall be considered Confidential Information, subject to Article 8. For clarity, all such communications regarding the Zymeworks Patent Rights shall be the Confidential
Information of Zymeworks; all such communications regarding the DS Patent Rights shall be the Confidential Information of DS; and all such communications regarding Joint Patent Rights shall be the Confidential Information of both Parties. Upon
DS’ reasonable request and at DS’ expense, Zymeworks may provide DS with assistance and cooperation in the filing, prosecution and maintenance for Patent Rights which claim Inventions comprising Antibodies or Products. 

7.3 Enforcement and Defense.

7.3.1 Notice. Each Party shall provide prompt notice to the other Party of (a) any infringement of a Zymeworks Patent Right
or Joint Patent Right by a product incorporating an antibody or antibody analogue that incorporates the DS Sequence Pair of which such Party becomes aware (each, a “Competing Product Infringement”) and (b) any infringement of a
DS Patent Right or Joint Patent Right by a product incorporating an antibody or antibody analogue that incorporates the [...***...] Binding Domain of which such Party becomes aware (each, a “Competing
[...***...]”). Any Competing Product Infringement or Competing [...***...] may be referred to herein as a “Competing Infringement”. DS and Zymeworks shall thereafter consult and cooperate
fully to determine a course of action, including the commencement of legal action by either or both DS and Zymeworks, to terminate any such Competing Infringement. Notwithstanding the foregoing, if Zymeworks has granted Commercial Sublicense to a
Third Party under Section 2.2.2 (c), the Parties will discuss how to handle the Competing [...***...], subject to and in accordance with this Section 7.3. 

7.3.2 Zymeworks Patent Rights. Zymeworks shall have the first right to enforce the Zymeworks Patent
Rights with respect to any Competing Product Infringement, and to defend any declaratory judgment action with respect thereto, at its own expense and by counsel of its own choice and in the name of Zymeworks and shall notify DS of such enforcement
actions. If Zymeworks fails to bring or defend any such action against a Competing Product Infringement within (a) [...***...] following the notice of alleged Competing Product Infringement provided pursuant to Section 7.3.2 or (b)
[...***...] before the time limit, if any, set forth in Applicable Laws for the filing of such actions, whichever comes first, DS shall have the right to bring and control any such action at its own expense and by counsel of its own choice,
and Zymeworks shall have the right, at its own expense, to be represented in any such action by counsel of its own choice. In no event shall DS admit the invalidity of, or after exercising its right to bring and control an action under this
Section 7.3.2, neglect to defend the validity of, any Zymeworks Patent Rights. 
 7.3.3 Joint Patent
Rights. DS shall have the first right to enforce Joint Patent Rights and to control the defense of any declaratory judgment action relating thereto, with respect to any Competing Product Infringement at its own expense and by counsel
of its own choice reasonably acceptable to Zymeworks (such acceptance which shall not be unreasonably withheld, conditioned or delayed), and Zymeworks shall have the right, at its own expense, to be represented in any such action by counsel of its
own choice. If DS fails to bring or defend such action within (a) [...***...] following the notice of alleged Competing Product Infringement or (b) [...***...] before the time limit, if any, set forth in the Applicable Laws for the
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whichever comes first, Zymeworks shall have the right to bring and control any such action at its own expense and by counsel of its own choice, and DS shall have the right, at its own expense, to
be represented in any such action by counsel of its own choice. In no event shall either Party admit the invalidity of, or after exercising its right to bring and control an action under this Section 7.3.3, neglect to defend the validity of any
Joint Patent Rights without the other Party’s prior written consent. 
 7.3.4 DS Patent
Rights. DS shall have the first right to enforce the DS Patent Rights with respect to any Competing [...***...], and to defend any declaratory judgment action with respect thereto, at its own expense and by counsel of its own
choice and in the name of DS and shall notify Zymeworks of such enforcement actions. If DS fails to bring or defend any such action against a Competing [...***...] within (a) [...***...] following the notice of alleged Competing
[...***...] provided pursuant to Section 7.3.4 or (b) [...***...] before the time limit, if any, set forth in Applicable Laws for the filing of such actions, whichever comes first, Zymeworks shall have the right to bring and control
any such action at its own expense and by counsel of its own choice, and DS shall have the right, at its own expense, to be represented in any such action by counsel of its own choice. In no event shall Zymeworks admit the invalidity of, or after
exercising its right to bring and control an action under this Section 7.3.4, neglect to defend the validity of, any DS Patent Rights without DS’ prior written consent, which shall not be unreasonably withheld, conditioned or delayed. 

7.3.5 Competing Infringement Action. In the event a Party brings an Competing Infringement action in accordance with this
Section 7.3 (the “Controlling Party”), such Controlling Party shall keep the other Party reasonably informed of the progress of any such action, and the other Party shall cooperate fully with the Controlling Party, at the
Controlling Party’s request and expense, including by providing information and materials and, if required to bring such action, the furnishing of a power of attorney or being named as a party. Neither Party shall have the right to settle any
Competing Infringement action under this Section 7.3 relating to Joint Patent Rights without the prior written consent of the other Party, which shall not be unreasonably withheld, conditioned or delayed. 

7.3.6 Recovery. Except as otherwise agreed by the Parties as part of a cost-sharing arrangement, any recovery obtained by either
or both DS and Zymeworks in connection with or as a result of any action with respect to a Competing Infringement contemplated by this Section 7.3, whether by settlement or otherwise, shall be shared in order as follows: 

(a) the Party which initiated and prosecuted the action shall recoup all of its costs and expenses incurred in connection with the
action; 
 (b) the other Party shall then, to the extent possible, recover its costs and expenses incurred in connection with the
action; and 
 (c) the portion of any recovery remaining shall be shared by the Parties 75:25 in favor of the Controlling Party.

  
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 7.3.7 Certification. In relation to a generic or biosimilar to a Product
or [...***...] Product, each Party shall inform the other Party of any certification regarding (a) any Zymeworks Patent Rights or Joint Patent Rights it received with respect to a Product or (b) any DS Patent Rights it received with
respect to a [...***...] Product, in each case pursuant to either 21 U.S.C. §§355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV) or its successor provisions, or any similar provisions in a country in the Territory other than the United States,
and shall provide the other Party with a copy of such certification within [...***...] of receipt. Zymeworks’ and DS’ rights with respect to the initiation and prosecution of any legal action as a result of such certification or any
recovery obtained as a result of such legal action shall be as defined in Section 7.3.2 through Section 7.3.6 hereof. Regardless of which Party has the right to initiate and prosecute such action, both Parties shall, as soon as practicable
after receiving notice of such certification, convene and consult with each other regarding the appropriate course of conduct for such action. The non-initiating Party shall have the right to be kept
reasonably informed and participate in decisions regarding the appropriate course of conduct for such action. 
 7.3.8 Defense
of Infringement Claims. In the event that a claim is brought against either Party alleging the infringement, violation or misappropriation of any Third Party intellectual property right based on the manufacture, use, sale or importation of
the Antibodies or the Products, or the [...***...] Antibodies or [...***...] Products, the Parties shall promptly meet to discuss the defense of such claim, and the Parties shall, as appropriate, enter into a joint defense agreement with
respect to the common interest privilege protecting communications regarding such claim in a form reasonably acceptable to the Parties. Notwithstanding the foregoing, if Zymeworks has granted Commercial Sublicense to a Third Party under
Section 2.2.2 (c), the Parties will discuss how to handle such claim separately. 
 8. CONFIDENTIALITY 

8.1 Duty of Confidence. During the Term and continuing during the period ending on the expiration of the last Royalty Term
and for [...***...] thereafter, all Confidential Information disclosed by one Party to the other Party hereunder shall be maintained in confidence by the receiving Party and shall not be disclosed to any Third Party or used for any purpose,
except as set forth herein, without the prior written consent of the disclosing Party. The recipient Party may only use Confidential Information of the other Party for purposes of exercising its rights and fulfilling its obligations under this
Agreement and may disclose Confidential Information of the other Party and its Affiliates to employees, agents, contractors, consultants and advisers of the recipient Party and its Affiliates, licensees and sublicensees to the extent reasonably
necessary for such purposes; provided that such persons and entities are bound by confidentiality and non-use of the Confidential Information consistent with the confidentiality provisions of this
Agreement as they apply to the recipient Party. 
 8.2 Exceptions. The obligations under this Article 8 shall not apply
to any information to the extent the recipient Party can demonstrate by competent evidence that such information: 

  
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 8.2.1 is (at the time of disclosure) or becomes (after the time of disclosure) known
to the public or part of the public domain through no breach of this Agreement by the recipient Party or its Affiliates; 
 8.2.2 was
known to, or was otherwise in the possession of, the recipient Party or its Affiliates prior to the time of disclosure by the disclosing Party; 

8.2.3 is disclosed to the recipient Party or an Affiliate on a non-confidential basis by a
Third Party that is entitled to disclose it without breaching any confidentiality obligation to the disclosing Party or any of its Affiliates; or 

8.2.4 is independently developed by or on behalf of the recipient Party or its Affiliates, as evidenced by its written records, without
use of or reference to the Confidential Information disclosed by the disclosing Party or its Affiliates under this Agreement. 
 8.3
Authorized Disclosures. Subject to this Section 8.3, the recipient Party may disclose Confidential Information belonging to the other Party to the extent permitted as follows: 

8.3.1 such disclosure is deemed necessary by counsel to the recipient Party to be disclosed to such Party’s attorneys, independent
accountants or financial advisors for the sole purpose of enabling such attorneys, independent accountants or financial advisors to provide advice to the receiving Party, on the condition that such attorneys, independent accountants and financial
advisors are bound by confidentiality and non-use obligations consistent with the confidentiality provisions of this Agreement as they apply to the recipient Party; 

8.3.2 disclosure by either Party or its Affiliates to governmental or other regulatory agencies in order to obtain and maintain patents
consistent with Article 7; 
 8.3.3 disclosure by DS or a DS Affiliate or sublicensee to gain or maintain approval to conduct
Clinical Trials for a Product, to obtain and maintain Marketing Authorization or to otherwise develop, manufacture and market Products, but such disclosure may be only to the extent reasonably necessary to obtain and maintain patents or
authorizations; 
 8.3.4 disclosure by Zymeworks or a Zymeworks Affiliate or sublicensee to gain or maintain approval to conduct
Clinical Trials for a [...***...] Product, to obtain and maintain Marketing Authorization or to otherwise develop, manufacture and market [...***...] Products, but such disclosure may be only to the extent reasonably necessary to obtain
and maintain patents or authorizations; 
 8.3.5 disclosure required in connection with any judicial or administrative process
relating to or arising from this Agreement (including any enforcement hereof) or to comply with applicable court orders or governmental regulations; or 

8.3.6 disclosure to potential or actual investors or potential or actual acquirers or actual or potential sublicensees in connection
with due diligence or similar investigations by such Third Parties; provided, in each case, that any such potential or actual investor or acquirer or 

  
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sublicensee agrees to be bound by confidentiality and non-use obligations consistent with those contained in this Agreement as they apply to the recipient
Party. 
 If the recipient Party is required by judicial or administrative process to disclose Confidential Information that is subject to
the non-disclosure provisions of this Article 8, such Party shall promptly inform the other Party of the disclosure that is being sought in order to provide the other Party an opportunity to challenge or limit
the disclosure obligations. Confidential Information that is disclosed as permitted by this Section 8.3 shall remain otherwise subject to the confidentiality and non-use provisions of this Article 8, and
the Party disclosing Confidential Information as permitted by this Section 8.3 shall take all steps reasonably necessary, including obtaining an order of confidentiality and otherwise cooperating with the other Party, to ensure the continued
confidential treatment of such Confidential Information. 
 9. PUBLICATIONS AND PUBLICITY 

9.1 Publications.

9.1.1 DS shall have the right to publish the results of the Research Program with respect to the Products or Antibodies in accordance
with this Section 9.1. Except for disclosures permitted pursuant to this Article 9, a Party, its employees or consultants wishing to make a publication of the results of its activities under the Agreement that contains the other Party’s
Confidential Information, shall deliver to such Party a copy of the proposed written publication or an outline of an oral disclosure at least [...***...] prior to submission for publication or presentation. 

9.1.2 Notwithstanding Section 9.1.1, the reviewing Party shall have the right (a) to request the removal of its Confidential
Information from any such publication or presentation by the other Party, or (b) to request a reasonable delay in publication or presentation in order to protect patentable information. If a reviewing Party requests such a removal of its
Confidential Information, the other Party shall remove such Confidential Information prior to submitting such presentation for publication or making such presentation. If a reviewing Party requests such a delay, the other Party shall delay
submission or presentation for a period of [...***...] to enable patent applications protecting the reviewing Party’s rights in such information to be filed in accordance with Article 7. For clarity, the Research Sequence Pairs, DS
Sequence Pairs, Antibodies, Products, [...***...] Binding Domain and [...***...] Variable Domain Improvements shall be the Confidential Information of DS (subject to the exceptions in Section 8.2); provided, however, that, Zymeworks
shall have the right to disclose [...***...] Binding Domain and [...***...] Variable Domain Improvements to a Third Party in connection with granting the Third Party sublicenses or Commercial Sublicenses pursuant to Section 2.2.2 in
compliance with Section 8.3.6; and provided further that Zymeworks shall have the right to make publications and presentations regarding the [...***...] Antibodies and [...***...] Products, so long as such publications or
presentations do not include DS’ Confidential Information. Similarly, the Zymeworks Platform and Zymeworks Platform Improvements shall be the Confidential Information of Zymeworks. 

  
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 9.2 Publicity. The Parties have mutually approved a press release attached
hereto as Exhibit 9.2 with respect to this Agreement and either Party may make subsequent public disclosure of the contents of such press release. Subject to the foregoing, each Party agrees not to issue any press release or other public statement,
whether oral or written, disclosing the terms hereof or any activities under the Research Program conducted hereunder without the prior written consent of the other Party (such consent not to be unreasonably withheld, conditioned or delayed),
provided however, that neither Party will be prevented from complying with any duty of disclosure it may have pursuant to Applicable Laws or pursuant to the rules of any recognized stock exchange or quotation system, subject to that
Party notifying the other Party of such duty and limiting such disclosure as reasonably requested by the other Party (and giving the other Party sufficient time to review and comment on any proposed disclosure). In the event that Zymeworks desires
to make a public announcement regarding any payment under Article 5 (or the occurrence of the activity related thereto), Zymeworks will provide DS with no less than [...***...], or shorter period if required by Applicable Laws, in which to
review and approve such announcement, such approval not to be unreasonably withheld, conditioned or delayed. 
 10. TERM AND TERMINATION

 10.1 Term.

10.1.1 The term of this Agreement (the “Term”) will commence on the Effective Date and (subject to earlier termination
in accordance with Section 10.2, 10.3 or 10.4) will expire upon the expiration of the Option Term, unless, during the Option Term, DS exercises its Option. In the event of expiration of this Agreement pursuant to this Section 10.1.1, DS
shall cease all development and commercialization of the Antibodies and Products. 
 10.1.2 Notwithstanding Section 10.1.1, in
the event that DS exercises its Option in accordance with Section 2.1.2, the Term shall expire, on a Product-by-Product basis, on the expiration of the Product
Royalty Term for such Product. 
 10.1.3 Upon expiration of this Agreement under Section 10.1.2 (but not under
Section 10.1.1) with respect to a Product, the licenses and rights granted to DS under Section 2.1 shall become non-exclusive, fully paid-up, perpetual
licenses, solely with respect to such Product. For clarity, upon expiration of the last-to-expire Product Royalty Term, this Agreement shall expire in its entirety. 

10.1.4 In the event of an expiration of this Agreement pursuant to Section 10.1.1 or 10.1.2, the following Articles and Sections
of this Agreement shall survive, on a [...***...] Product by [...***...] Product basis, until the expiration of the [...***...] Royalty Term for such [...***...] Product: Section 2.2.2, Section 5.8,
Section 6.1.3, Section 6.1.5 (with respect to [...***...]), Section 6.2 (with respect to [...***...] Royalties), Section 6.3 (with respect to [...***...] Royalties), Section 6.4 (with respect to
[...***...] Royalties), Sections 7.1, 7.1.1, 7.1.2, 7.1.3, 7.2.3, 7.2.4, 7.3.1, 7.3.3, and 7.3.5 (in each case with respect to Joint Patent Rights and DS Patent Rights only), and Section 7.3.4 (the foregoing Articles and Sections, the
“[...***...] 

  
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Survival Sections”). Upon expiration of [...***...] Royalty Term for a [...***...] Product, the licenses and rights granted to Zymeworks under Section 2.2.2(a) shall
become non-exclusive, fully paid-up, perpetual licenses, solely with respect to such [...***...] Product. 

10.2 Termination for Convenience.

10.2.1 During the Research Program Term, DS shall have the right to terminate this Agreement at any time in its sole discretion upon
[...***...] advance written notice to Zymeworks. After the Research Program Term, DS shall have the right to terminate this Agreement at any time in its sole discretion upon [...***...] advance written notice to Zymeworks. In the event
of a termination by DS pursuant to this Section 10.2.1, DS shall cease all development and commercialization of the Antibodies and Products, and the [...***...] shall survive. 

10.2.2 Zymeworks shall have the right to terminate the licenses granted to it in Section 2.2.2 at any time in its sole discretion
upon [...***...] advance written notice to DS. In the event of such a termination, this Agreement shall continue in full force and effect; provided that Section 2.2.2, Section 5.8, Section 6.1.3, Zymeworks’ record-keeping
obligations under Section 6.4.1, DS’ audit rights under Section 6.4.2, Section 7.2.3, and Section 7.3.4 shall terminate; all references to DS Patent Rights, Competing [...***...], [...***...] Antibodies and
[...***...] Products in Section 7.2.5 and 7.3 shall be deemed to have been deleted; and Zymeworks shall cease all development and commercialization of the [...***...] Antibodies and [...***...] Products. 

10.3 Termination for Patent Challenge.

10.3.1 Notwithstanding anything herein to the contrary, in the event that DS or its Affiliates file or initiate an action challenging
(directly or indirectly (e.g., through a Third Party)) in a court or by administrative proceeding seeking the invalidity or unenforceability or seeking to limit the scope of any Zymeworks Patent Rights, then Zymeworks, at its discretion, may
give notice to DS that Zymeworks will terminate the licenses and the Option granted to DS under Section 2.1 unless such challenge is withdrawn, abandoned, or terminated (as appropriate) within [...***...]. In the event that DS or its
Affiliates (as the case may be) does not withdraw, abandon or terminate (as appropriate) such challenge within such [...***...] period, Zymeworks may terminate this Agreement, and DS shall cease all development and commercialization of the
Antibodies and Products. In the event of a termination by Zymeworks pursuant to this Section 10.3.1, the [...***...] Survival Sections (other than Section 2.2.2(c)) shall survive. 

10.3.2 Notwithstanding anything herein to the contrary, in the event that Zymeworks or its Affiliates file or initiate an action
challenging (directly or indirectly (e.g., through a Third Party)) in a court or by administrative proceeding seeking the invalidity or unenforceability or seeking to limit the scope of any DS Patent Rights, then DS, at its discretion, may
give notice to Zymeworks that DS will terminate the licenses granted to Zymeworks under Section 2.2.2 unless such challenge is withdrawn, abandoned, or terminated (as appropriate) within [...***...]. In the event that Zymeworks or its
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withdraw, abandon or terminate (as appropriate) such challenge within such [...***...] period, DS may terminate the license granted to Zymeworks under Section 2.2.2, in which case
Section 5.8, Section 6.1.3, Zymeworks’ record-keeping obligations under Section 6.4.1, DS’ audit rights under Section 6.4.2, Section 7.2.3, and Section 7.3.4 shall terminate; all references to DS Patent
Rights, Competing [...***...], DS Patent Rights, [...***...] Antibodies and [...***...] Products in Section 7.2.5 and 7.3 shall be deemed to have been deleted; and Zymeworks shall cease all development and commercialization of
the [...***...] Antibodies and [...***...] Products. 
 10.4 Termination for Cause. If either DS or Zymeworks is
in material breach of any obligation hereunder, the non-breaching Party may give notice to the breaching Party specifying the claimed particulars of such breach, and in such event, if the breach is not cured
within [...***...] after receipt of such notice, the non-breaching Party shall have the rights thereafter to terminate this Agreement immediately by giving notice to the breaching Party to such effect. A
Party may terminate this Agreement pursuant to this Section 10.4, in its entirety or on a Product-by-Product (with respect to a termination by Zymeworks) or
[...***...] Product-by-[...***...] Product basis (with respect to a termination by DS). If a breach is specific to a particular Product (in the case of a
breach by DS) or [...***...] Product (in the case of a breach by Zymeworks), the non-breaching Party shall have the right to terminate this Agreement in accordance with this Section 10.4 solely with
respect to such Product or [...***...] Product, as applicable. In the event of a termination by Zymeworks pursuant to this Section 10.4, DS shall cease all development and commercialization of the Antibodies and Products which are subject
to such termination, and the [...***...] Survival Sections (other than Section 2.2.2(c)) shall survive. In the event of a termination by DS pursuant to this Section 10.4, Zymeworks shall cease all development and commercialization of the
[...***...] Antibodies and [...***...] Products which are subject to such termination, and any licenses granted to DS under Section 2.1 prior to such termination and still in effect shall survive, subject to all relevant provisions
(including Section 3.3, Article 5, Article 6, and Article 10). 
 11. EFFECTS OF TERMINATION 

11.1 Termination of Agreement. If this Agreement terminates or expires for any reason, then no later
than [...***...] after the effective date of such termination, each Party shall pay all amounts then due and owing to the other Party hereunder as of the termination date; provided that with respect to a termination on a Product-by-Product or [...***...] Product-by-[...***...] Product basis,
payments shall be so accelerated solely with respect to the terminated products. In the event of a termination or expiration of this Agreement in its entirety, each Party shall return or cause to be returned to the other Party, or destroy, all
Confidential Information received from the other Party and all copies thereof; provided, however, that each Party may keep one (1) copy of Confidential Information received from the other Party in its confidential files for record
purposes; and provided further that each Party may retain any Confidential Information reasonably necessary to exercise any surviving rights in accordance with this Agreement. 

  
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 11.2 Survival. Termination of this Agreement shall not relieve the Parties of
any obligation accruing prior to such termination, nor affect in any way the survival of any other right, duty or obligation of the Parties which is expressly stated elsewhere in this Agreement to survive such termination. Without limiting the
foregoing and except as expressly set forth otherwise in this Agreement, Articles 1, 8, 9, 11, 13, and 14 and Sections 7.1, 7.1.1, 7.1.2, 7.1.3, 7.2.4, 12.4 and 12.5 shall survive the expiration or termination of this
Agreement. Any and all sublicenses granted by Zymeworks under the [...***...] License including the obligations of payment by Zymeworks under Section 5.8 shall survive any expiration or termination of this Agreement (in its entirety or on
a Product-by-Product or [...***...] Product-by- [...***...] Product basis),
provided that such sublicensee did not cause the breach that gave cause to such termination by DS under 10.4. If a sublicensee’s breach is the cause for a termination by DS under Section 10.4, then solely the sublicense granted to such
sublicensee shall terminate with such termination of this Agreement. Except as otherwise expressly provided herein (including in Article 10), all other rights and obligations of the Parties under this Agreement shall terminate upon termination or
expiration of this Agreement. 
 11.3 Damages; Relief. Termination of this Agreement shall not preclude either Party from
claiming any other damages, compensation or relief that it may be entitled to upon such termination. 
 11.4 Bankruptcy
Code. If this Agreement is rejected by a Party as a debtor under Section 365 of the United States Bankruptcy Code or similar provision in the bankruptcy laws of another jurisdiction (the “Code”), then,
notwithstanding anything else in this Agreement to the contrary, all licenses and rights to licenses granted under or pursuant to this Agreement by the Party in bankruptcy to the other Party are, and shall otherwise be deemed to be, for purposes of
Section 365(n) of the United States Bankruptcy Code (or similar provision in the bankruptcy laws of the jurisdiction), licenses of rights to “intellectual property” as defined under Section 101(35A) of the United States Bankruptcy
Code (or similar provision in the bankruptcy laws of the jurisdiction). The Parties agree that a Party that is a licensee of rights under this Agreement shall retain and may fully exercise all of its rights and elections under the Code. The
foregoing provisions of this Section 11.4 are without prejudice to any rights a Party may have arising under the Code. 
 12.
REPRESENTATIONS AND WARRANTIES 
 12.1 Representations and Warranties by Each Party. Each Party represents and warrants to
the other as of the Effective Date that: 
 12.1.1 it is a corporation duly organized, validly existing, and in good standing under
the laws of its jurisdiction of formation; 
 12.1.2 it has full corporate power and authority to execute, deliver, and perform this
Agreement, and has taken all corporate action required by Applicable Laws and its organizational documents to authorize the execution and delivery of this Agreement and the consummation of the transactions contemplated by this Agreement; 

  
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 12.1.3 this Agreement constitutes a valid and binding agreement enforceable against it
in accordance with its terms (except as the enforceability thereof may be limited by bankruptcy, bank moratorium or similar laws affecting creditors’ rights generally and laws restricting the availability of equitable remedies and may be
subject to general principles of equity whether or not such enforceability is considered in a proceeding at law or in equity); and 

12.1.4 the execution and delivery of this Agreement and all other instruments and documents required to be executed pursuant to this
Agreement, and the consummation of the transactions contemplated hereby do not and shall not (a) conflict with or result in a breach of any provision of its organizational documents, (b) result in a breach of any agreement to which it is a
party; or (c) violate any Applicable Laws. 
 12.2 Representations and Warranties
by Zymeworks. Zymeworks represents and warrants to DS as of the Effective Date that: 
 12.2.1 Zymeworks
has the right to grant to DS the licenses and rights under Section 2.1 that it purports to grant hereunder; 
 12.2.2 Zymeworks
has not granted, and will not grant during the Term, rights to any Third Party under the Zymeworks Intellectual Property that conflict with the rights granted to DS hereunder; 

12.2.3 Zymeworks has not received any written notice of any threatened claims or litigation seeking to invalidate or otherwise
challenge the Zymeworks Patent Rights or Zymeworks’ rights therein; and 
 12.2.4 To its knowledge, the Zymeworks Patent Rights
are not subject to any pending re-examination, opposition, interference or litigation proceedings. 

12.3 Representations and Warranties by DS. DS represents and warrants to
Zymeworks as of the Effective Date that: 
 12.3.1 DS has the right to grant to Zymeworks the licenses and rights under
Section 2.2 that it purports to grant hereunder; 
 12.3.2 DS has not granted, and will not grant during the Term, rights to any
Third Party under the DS Intellectual Property that conflict with the rights granted to Zymeworks hereunder; 
 12.3.3 DS has not
received any written notice of any threatened claims or litigation seeking to invalidate or otherwise challenge the DS Patent Rights or DS’ rights therein; 

12.3.4 To its knowledge, the DS Patent Rights are not subject to any pending re-examination,
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 12.3.5 Based on reasonable experimental data or generally accepted scientific
literature available as of the Effective Date, the [...***...] Binding Domain is Directed To [...***...], and the Research Sequence Pairs are Directed To the Research Target Pair. 

12.4 Limitation. NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED, THAT ANY OF THE RESEARCH,
DEVELOPMENT AND/OR COMMERCIALIZATION EFFORTS WITH REGARD TO ANY ANTIBODY OR PRODUCT, OR ANY [...***...] ANTIBODY OR [...***...] PRODUCT, WILL BE SUCCESSFUL. 

12.5 No Other Warranties. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, EACH PARTY
EXPRESSLY DISCLAIMS ANY AND ALL REPRESENTATIONS OR WARRANTIES OF ANY KIND WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT, EITHER EXPRESS OR IMPLIED, INCLUDING ANY WARRANTIES OF NON-INFRINGEMENT,
PATENTABILITY, VALIDITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 13. INDEMNIFICATION AND LIABILITY 

13.1 Indemnification by Zymeworks. Zymeworks shall indemnify, defend and hold DS and its Affiliates,
and their respective officers, directors, employees, contractors, licensees, agents and assigns (each, a “DS Indemnified Party”), harmless from and against losses, damages and liability, including reasonable legal
expense and attorneys’ fees, (collectively, “Losses”) to which any DS Indemnified Party may become subject as a result of any Third Party demands, claims or actions (“Claims”) against any DS Indemnified Party
(including product liability claims) arising or resulting from: (a) the research, development or commercialization of [...***...] Antibodies or [...***...] Products by Zymeworks or its Affiliates or Third Parties acting under their
authority under this Agreement, (b) the negligence or willful misconduct of Zymeworks or its Affiliates or Third Parties (including licensees, other than DS, and contractors) acting under their authority pursuant to this Agreement, or
(c) the material breach of any term in or the covenants, warranties, representations made by Zymeworks to DS under this Agreement. Zymeworks is only obliged to so indemnify and hold the DS Indemnified Parties harmless to the extent that such
Claims do not arise from the material breach of this Agreement by or the negligence or willful misconduct of DS or its Related Parties. 

13.2 Indemnification by DS. DS shall indemnify, defend and hold Zymeworks and its Affiliates, and
their respective officers, directors, employees, contractors, agents and assigns (each, a “Zymeworks Indemnified Party”), harmless from and against Losses incurred by any Zymeworks Indemnified Party as a result of any
Third Party Claims against any Zymeworks Indemnified Party (including product liability claims) arising or resulting from: (a) the research, development or commercialization of Antibodies or Products by DS or its Affiliates or Third Parties
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this Agreement; (b) the negligence or willful misconduct of DS or its Affiliates or Third Parties (including collaborators and other sublicensees and contractors) acting under their
authority pursuant to this Agreement; or (c) the material breach of any term in or the covenants, warranties, representations made by DS to Zymeworks under this Agreement. DS is only obliged to so indemnify and hold the Zymeworks Indemnified
Parties harmless to the extent that such Claims do not arise from the material breach of this Agreement or the negligence or willful misconduct of Zymeworks or its Related Parties. 

13.3 Indemnification Procedure. 

13.3.1 Any DS Indemnified Party or Zymeworks Indemnified Party seeking indemnification hereunder (“Indemnified Party”)
shall notify the Party against whom indemnification is sought (“Indemnifying Party”) in writing reasonably promptly after the assertion against the Indemnified Party of any Claim in respect of which the Indemnified Party intends to
base a claim for indemnification hereunder, but the failure or delay so to notify the Indemnifying Party shall not relieve the Indemnifying Party of any obligation or liability that it may have to the Indemnified Party except to the extent that the
Indemnifying Party demonstrates that its ability to defend or resolve such Claim is adversely affected thereby. 
 13.3.2 Subject to
the provisions of Section 13.3.3 below, the Indemnifying Party shall have the right, upon providing notice to the Indemnified Party of its intent to do so within [...***...] after receipt of the notice from the Indemnified Party of any
Claim, to assume the defense and handling of such Claim, at the Indemnifying Party’s sole expense. 
 13.3.3 The Indemnifying
Party shall select counsel reasonably acceptable to the Indemnified Party in connection with conducting the defense and handling of such Claim, and the Indemnifying Party shall defend or handle the same in consultation with the Indemnified Party,
and shall keep the Indemnified Party timely apprised of the status of such Claim. The Indemnifying Party shall not, without the prior written consent of the Indemnified Party, agree to a settlement of any Claim which could lead to liability or
create any financial or other obligation on the part of the Indemnified Party for which the Indemnified Party is not entitled to indemnification hereunder, or would involve any admission of wrongdoing on the part of the Indemnified Party. The
Indemnified Party shall cooperate with the Indemnifying Party, at the request and expense of the Indemnifying Party, and shall be entitled to participate in the defense and handling of such Claim with its own counsel and at its own expense. 

13.4 Special, Indirect and Other Losses. NEITHER PARTY NOR ANY OF ITS
AFFILIATES SHALL BE LIABLE UNDER THIS AGREEMENT FOR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS SUFFERED BY THE OTHER PARTY, EXCEPT FOR LIABILITY FOR BREACH OF ARTICLE 8. NOTHING IN THIS SECTION 13.4
SHALL BE CONSTRUED TO LIMIT EITHER PARTY’S INDEMNIFICATION OBLIGATIONS UNDER THIS ARTICLE 13. 

  
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 13.5 Insurance. Each Party, at its own expense, shall maintain liability
insurance (or self-insure) in an amount consistent with industry standards during the Term. Each Party shall provide a certificate of insurance (or evidence of self-insurance) evidencing such coverage to the other Party upon request. 

14. GENERAL PROVISIONS 

14.1 Assignment. Except as provided in this Section 14.1, this Agreement may not be assigned or otherwise transferred, nor
may any right or obligation hereunder be assigned or transferred, by either Party without the consent of the other Party; provided, however, that (and notwithstanding anything elsewhere in this Agreement to the contrary) either Party
may, without such consent, assign this Agreement and its rights and obligations hereunder in whole or in part to an Affiliate of such Party, provided further that, either Party, without the written consent of the other Party, may
assign this Agreement and its rights and obligations hereunder (or under a transaction under which this Agreement is assumed) in connection with the transfer or sale of all or substantially all of its assets or business related to the subject matter
of this Agreement, or in the event of its merger or consolidation or similar transaction. Any attempted assignment not in accordance with this Section 14.1 shall be void. Any permitted assignee shall assume all assigned obligations of its
assignor under this Agreement. 
 14.2 Extension to Affiliates. Except as expressly set forth
otherwise in this Agreement, each Party shall have the right to extend the rights and obligations granted in this Agreement to one or more of its Affiliates. All applicable terms and provisions of this Agreement, except this right to extend, shall
apply to any such Affiliate to which this Agreement has been extended to the same extent as such terms and provisions apply to the Party extending such rights and obligations. The Party extending the rights and obligations granted hereunder shall
remain primarily liable for any acts or omissions of its Affiliates. 
 14.3 Severability. Should one or more of the
provisions of this Agreement become void or unenforceable as a matter of Applicable Laws, then this Agreement shall be construed as if such provision were not contained herein and the remainder of this Agreement shall be in full force and effect,
and the Parties will use their best efforts to substitute for the invalid or unenforceable provision a valid and enforceable provision which conforms as nearly as possible with the original intent of the Parties. 

14.4 Governing Law; English Language. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York and the patent laws of the United States without reference to any rules of conflict of laws. This Agreement was prepared in the English language, which language shall govern the
interpretation of, and any dispute regarding, the terms of this Agreement. 

  
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 14.5 Dispute Resolution. 

14.5.1 If any dispute, claim or controversy of any nature arising out of or relating to this Agreement, including any action or claim
based on tort, contract or statute, or concerning the interpretation, effect, termination, validity, performance or breach of this Agreement (each, a “Dispute”), arises between the Parties and the Parties cannot resolve such Dispute
within [...***...] of a written request by either Party to the other Party (“Notice of Dispute”), and such Dispute is not one for which the JSC Chair has final decision-making as expressly set forth in this Agreement, either
Party may refer the Dispute to senior representatives of each Party for resolution. Each Party, within [...***...] after a Party has received such written request from the other Party to so refer such Dispute, shall notify the other Party in
writing of the senior representative to whom such dispute is referred. If, after an additional [...***...] after such notice of senior representatives’ names, such representatives have not succeeded in negotiating a resolution of the
Dispute, and a Party wishes to pursue the matter, each such Dispute, controversy or claim that is not an “Excluded Claim” (defined below) shall be finally resolved by binding arbitration administered by JAMS pursuant to JAMS’
Arbitration Rules and Procedures (the “Rules”). Judgment on the Award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of
appropriate jurisdiction. 
 14.5.2 The arbitration shall be conducted by a single arbitrator experienced in the business of
pharmaceuticals (including biologicals). If the issues in dispute involve scientific, technical or commercial matters, the arbitrator chosen hereunder shall engage experts have educational training or industry experience sufficient to demonstrate a
reasonable level of relevant scientific, medical and industry knowledge, as necessary to resolve the dispute. Within [...***...] after initiation of arbitration, the Parties shall select the arbitrator. If the Parties are unable or fail to
agree upon the arbitrator within such [...***...] period, the arbitrator shall be appointed in accordance with the Rules. The place of arbitration shall be New York City, New York, and all proceedings and communications shall be in English.

 14.5.3 Prior to the arbitrator being selected, either Party, without waiving any remedy under this Agreement, may seek from any
court having jurisdiction any temporary injunctive or provisional relief necessary to protect the rights or property of that Party until final resolution of the issue by the arbitrator or other resolution of the controversy between the Parties. Once
the arbitrator has been selected, either Party may apply to the arbitrator for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved, and either Party may apply to a court of competent
jurisdiction to enforce interim injunctive relief granted by the arbitrator. Any final award by the arbitrator may be entered by either Party in any court having appropriate jurisdiction for a judicial recognition of the decision and applicable
orders of enforcement. The arbitrator shall have no authority to award punitive or any other type of damages not measured by a Party’s compensatory damages. Each Party shall bear its own costs and expenses and attorneys’ fees and an equal
share of the arbitrator’s fees and any administrative fees of arbitration, unless the arbitrator agrees otherwise. 
 14.5.4
Except to the extent necessary to confirm an award or as may be required by law, neither a Party nor the arbitrator may disclose the existence, content, or results of an arbitration without the prior written consent of both Parties. In no event
shall an arbitration be 

  
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initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable New York statute of limitations. 

14.5.5 As used in this Section 14.5, the term “Excluded Claim” means any dispute, controversy or claim that
concerns (a) the validity, enforceability or infringement of any patent, trademark or copyright, or (b) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory. Any Excluded Claim may be submitted by either
Party to any court of competent jurisdiction over such Excluded Claim. 
 14.6 Force Majeure. Neither Party
shall be responsible to the other for any failure or delay in performing any of its obligations under this Agreement or for other nonperformance hereunder (excluding, in each case, the obligation to make payments when due) if such delay or
nonperformance is caused by strike, fire, flood, earthquake, accident, war, act of terrorism, act of God or of the government of any country or of any local government, or by any other cause unavoidable or beyond the control of any Party hereto. In
such event, the Party affected will use reasonable efforts to resume performance of its obligations and will keep the other Party informed of actions related thereto. If any such failure of delay in a Party’s performance hereunder continues for
more than [...***...], the other Party may terminate this Agreement upon written notice to the delayed Party. 
 14.7
Waivers and Amendments. The failure of any Party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a
similar subsequent failure to perform any such term or condition by the other Party. No waiver shall be effective unless it has been given in writing and signed by the Party giving such waiver. No provision of this Agreement may be amended or
modified other than by a written document signed by authorized representatives of each Party. 
 14.8 Relationship
of the Parties. Nothing contained in this Agreement shall be deemed to constitute a partnership, joint venture, or legal entity of any type between Zymeworks and DS, or to constitute one as the agent of the
other. Each Party shall act solely as an independent contractor, and nothing in this Agreement shall be construed to give any Party the power or authority to act for, bind, or commit the other. 

14.9 Notices. All notices, consents or waivers under this Agreement shall be in writing and will be deemed to have been duly
given when (a) scanned and converted into a portable document format file (i.e., pdf file), and sent as an attachment to an e-mail message, where, when such message is received, a read receipt e-mail is received by the sender (and such read receipt e-mail is preserved by the Party sending the notice), provided further that a copy is promptly sent by an
internationally recognized overnight delivery service (receipt requested)(although the sending of the e-mail message shall be when the notice is deemed to have been given), or (b) the earlier of when
received by the addressee or five (5) days after it was sent, if sent by registered letter or overnight courier by an internationally recognized overnight delivery service (receipt requested), in each case to the 

  
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appropriate addresses and e-mail addresses set forth below (or to such other addresses and e-mail addresses as a
Party may designate by notice): 
  

			
	If to Zymeworks:	  	Zymeworks, Inc.
		  	540-1385 West 8th Avenue
		  	Vancouver, BC
		  	Canada
		  	V6H 3V9
		  	E-mail address: [...***...]
		
	and	  	
		
		  	Wilson Sonsini Goodrich & Rosati
		  	650 Page Mill Road
		  	Palo Alto, CA 95070
		  	Attention: [...***...]
		  	E-mail address: [...***...]
		
	If to DS:	  	Daiichi Sankyo Co., Ltd.
		  	1-2-58, Hiromachi, Shinagawa-ku
		  	Tokyo 140-8710
		  	Attension: [...***...]
		  	E-mail address: [...***...]

 14.10 Further Assurances. DS and Zymeworks hereby covenant and agree without the
necessity of any further consideration, to execute, acknowledge and deliver any and all documents and take any action as may be reasonably necessary to carry out the intent and purposes of this Agreement. 

14.11 Compliance with Law. Each Party shall perform its obligations under this Agreement in
accordance with all Applicable Laws. No Party shall, or shall be required to, undertake any activity under or in connection with this Agreement which violates, or which it believes, in good faith, may violate, any Applicable Laws. 

14.12 No Third Party Beneficiary Rights. This Agreement is not intended
to and shall not be construed to give any Third Party any interest or rights (including any Third Party beneficiary rights) with respect to or in connection with any agreement or provision contained herein or contemplated hereby, except as otherwise
expressly provided for in this Agreement. 
 14.13 Entire Agreement. This Agreement sets forth the entire
agreement and understanding of the Parties as to the subject matter hereof and supersedes all proposals, oral or written, and all other communications 

  
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between the Parties with respect to such subject matter. The Parties acknowledge and agree that, as of the Effective Date, all Confidential Information disclosed pursuant to the Confidentiality
Agreements by a Party or its Affiliates shall be included in the Confidential Information subject to this Agreement and the Confidentiality Agreements are hereby superseded in their entirety; provided, that the foregoing shall not relieve any
Person of any right or obligation accruing under the Confidentiality Agreements prior to the Effective Date. “Confidentiality Agreements” means the Mutual Non-Disclosure Agreement
between Zymeworks and DS dated [...***...], and the Addendum to Mutual Non-Disclosure Agreement between Zymeworks and DS dated [...***...]. 

14.14 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 
 14.15 Expenses. Each Party shall pay
its own costs, charges and expenses incurred in connection with the negotiation, preparation and completion of this Agreement. 
 14.16
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective legal representatives, successors and permitted assigns. 

14.17 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 a favor of or against any Party, regardless of which Party was generally responsible for the preparation of this
Agreement. 
 14.18 Cumulative Remedies. No remedy referred to in this Agreement is intended to be
exclusive unless explicitly stated to be so, but each shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law. 

14.19 Export. Each Party acknowledges that the laws and regulations of the United States restrict the export and re-export of commodities and technical data of United States origin. Each Party agrees that it will not export or re-export restricted commodities or the technical data of the
other Party in any form without appropriate United States and foreign government licenses. 

  
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 14.20 Notification and Approval. In the event
that this Agreement or the transaction(s) set forth herein are subject to notification or regulatory approval in one or more countries, then development and commercialization in such country(ies) will be subject to such notification or regulatory
approval. The Parties will reasonably cooperate with each other with respect to such notification and the process required thereunder, including in the preparation of any filing. DS will be responsible for any and all costs, expenses, and filing
fees associated with any such filing. 

  
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 IN WITNESS WHEREOF, the Parties intending to be bound have caused this
Agreement to be executed by their duly authorized representatives. 
  

			
	ZYMEWORKS INC.
		
	By:	 	 /s/ Ali Tehrani

	Name:	 	Ali Tehrani, Ph.D.
	Title:	 	President & Chief Executive Officer
	
	DAIICHI SANKYO CO., LTD.
		
	By:	 	 /s/ Toshinori Agatsuma

	Name:	 	Toshinori Agatsuma, Ph.D.
	Title:	 	Vice President, Biologics and Immuno-Oncology Laboratoies

  
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 EXHIBIT 1.12 

[...***...] 
 [...***...], are listed
below together with their respective Sequences and full-length sequences. 
 [...***...] 

  
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 EXHIBIT 1.23 

DS KNOW-HOW 

List of DS Know-How: 
  

	 	1.	[...***...] 

  

	 	2.	[...***...] 

  

	 	3.	[...***...] 

  

	 	4.	[...***...] 

  

	 	5.	[...***...] 

  

	 	6.	[...***...] 

  

	 	7.	[...***...] 

  

	 	8.	[...***...] 

  

	 	9.	[...***...] 

  

	 	10.	[...***...] 

  
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 EXHIBIT 1.54 

RESEARCH SEQUENCE PAIRS 
 The Reseach
Sequene Pairs are as follows with the respective Sequences and full-length sequences listed in the table below: 
 [...***...] 

  
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 EXHIBIT 1.55 

RESEARCH TARGET PAIR 
 The Research Target
Pair is [...***...] with [...***...] with their respective SwissProt ID listed in the table below. 
 [...***...] 

  
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 EXHIBIT 3.1.3 

THE INITIAL WORKPLAN 
 The Work Plan and
projected durations for each stage are provided as approximates and subject to change pending the initiation dates for each project and laboratory capacities. 
  

							
	 Part 1: [...***...]

	Part	  	Activity	  	Responsible Party	  	Deliverable to the other Party
	 [...***...]
	  	 •[...***...]
	  	 [...***...]
	  	 •[...***...]

	 [...***...]
	  	 •[...***...]
	  	 [...***...]
	  	 •[...***...]

	 Part 2: [...***...]

	Part	  	Activity	  	Responsible Party	  	Deliverable to the other Party
	 [...***...]
	  	 [...***...]
	  	 [...***...]
	  	 •[...***...]

	 [...***...]
	  	 •[...***...]
	  	 [...***...]
	  	 •[...***...]

	 Part 3: [...***...]

	Part	  	Activity	  	Responsible Party	  	Deliverable to the other Party
	 [...***...]
	  	 •[...***...]
	  	 [...***...]
	  	 •[...***...]

	 [...***...]
	  	 •[...***...]
	  	 [...***...]
	  	 •[...***...]

	 [...***...]

	  
 Approximate Budget:

	
	The approximate budget for the completion of the above-outlined activities [...***...] $[...***...] USD.

  
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 [...***...] 

  
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 EXHIBIT 9.2 

PRESS RELEASE 
 Zymeworks and Daiichi
Sankyo Announce Immuno-Oncology Cross-Licensing Agreement and Bi-Specific Antibody Collaboration 

Vancouver, Canada, Tokyo, Japan and Parsippany, NJ (September xx, 2016) – Zymeworks
Inc., a clinical-stage biopharmaceutical company discovering and developing innovative multi-functional protein-based therapeutics including bi-specific antibodies and drug conjugates, for the treatment of
cancer, and Daiichi Sankyo Company, Limited (hereafter, Daiichi Sankyo) announced today that they have entered into a cross-licensing and collaboration agreement to develop proprietary cancer immuno-oncology products. 

Under the terms of the agreement, Daiichi Sankyo will acquire a license to Zymeworks’ AzymetricTM and Effector Function Enhancement and Control
Technology (EFECTTM) platforms to develop a bi-specific antibody therapeutic, for which Zymeworks will receive an upfront technology access fee and research support. Zymeworks will also be eligible to
receive payments upon the achievement of preclinical, clinical and commercial milestones, as well as up to double-digit tiered royalties on global product sales. Additionally, Zymeworks will license immuno-oncology antibodies from Daiichi Sankyo,
with the right to research, develop and commercialize multiple bi-specific products globally in exchange for royalties on product sales. Further financial details are not disclosed. 

“We are very excited to enter into this cross-licensing agreement with Daiichi Sankyo,” said Ali Tehrani, Ph.D., President and CEO of Zymeworks.
“The in-licensing component of the transaction will enable Zymeworks to expand its therapeutic pipeline in the near term by accelerating a number of our immuno-oncology programs into the clinic and to
ultimately provide more effective and targeted treatments to patients. Additionally, we believe that the licensing of Zymeworks’ platforms to Daiichi Sankyo further demonstrates the potential of the AzymetricTM and EFECTTM technologies
for the discovery and development of next-generation multi-functional biologics.” 
 “Targeting two drivers of disease with a single monoclonal
antibody is a key scientific advance that may help change the standard of care for patients with cancer,” said Antoine Yver, MD, MSc., Executive Vice President and Global Head, Oncology Research and Development, Daiichi Sankyo. “We are
looking forward to strengthening our expertise in bi-specific immuno-oncology by working closely with Zymeworks on this collaboration.” 

About the AzymetricTM Platform 
 Bi-specific antibodies developed using the AzymetricTM platform resemble conventional mono-specific antibodies while being able to simultaneously bind to two different targets resulting in additive or
synergistic therapeutic responses. AzymetricTM antibodies spontaneously assemble into a single molecule with two different Fab domains comprising of unique heavy and light chain pairings. AzymetricTM antibodies are manufactured using
conventional monoclonal antibody processes and can be easily adapted to rapidly screen target and sequence combinations for bi-specific activity in the final therapeutic format, thereby significantly reducing
drug development timelines. 

  
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 About the EFECTTM Platform 

The EFECTTM platform is a library of antibody Fc modifications engineered to modulate the activity of the antibody-mediated immune response, which includes
both the up and down-regulation of effector functions. This platform is compatible with traditional monoclonal and well as AzymetricTM bi-specific antibodies to further enable the customization of
therapeutic responses for different diseases. 
 About Zymeworks Inc. 

Zymeworks is a privately held clinical-stage biotherapeutics company that is developing
best-in-class AzymetricTM bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and
inflammatory diseases. The company’s novel AzymetricTM, AlbuCORETM, and EFECTTM platforms, its ZymelinkTM conjugation platform and cytotoxins, and its proprietary ZymeCADTM structure-guided protein engineering technology,
enable the development of highly potent bi-specific antibodies, multivalent protein therapeutics, and antibody drug conjugates across a range of indications. Zymeworks is focused on accelerating its clinical
and preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found at www.zymeworks.com. 

About Daiichi Sankyo Cancer Enterprise 
 The vision of
Daiichi Sankyo Cancer Enterprise is to push beyond traditional thinking to align world-class science to create innovative treatments for patients with cancer. The oncology pipeline of Daiichi Sankyo continues to grow and currently includes more than
20 small molecules and monoclonal antibodies with novel targets in both solid and hematological cancers. Compounds in phase 3 development include: quizartinib, an oral FLT3 inhibitor, for newly-diagnosed and relapsed/refractory FLT3-ITD+ acute myeloid leukemia (AML); pexidartinib, an oral CSF-1R inhibitor, for tenosynovial giant cell tumor (TGCT), also known as pigmented villonodular synovitis (PVNS)
and giant cell tumor of the tendon sheath (GCT-TS), which also is being investigated in combination with anti-PD1 immunotherapy, pembrolizumab, in a range of solid
tumors; and tivantinib, an oral MET inhibitor, for second-line treatment of MET-high hepatocellular carcinoma in partnership with ArQule, Inc. 

About Daiichi Sankyo 
 Daiichi Sankyo Group is
dedicated to the creation and supply of innovative pharmaceutical products to address diversified, unmet medical needs of patients in both mature and emerging markets. With over 100 years of scientific expertise and a presence in more than 20
countries, Daiichi Sankyo and its 16,000 employees around the world draw upon a rich legacy of innovation and a robust pipeline of promising new medicines to help people. In addition to a strong portfolio of medicines for hypertension and thrombotic
disorders, under the Group’s 2025 Vision to become a “Global Pharma Innovator with Competitive Advantage in Oncology,” Daiichi Sankyo research and development is primarily focused on bringing forth novel therapies in oncology,
including immuno-oncology, with additional focus on new horizon areas, such as pain management, neurodegenerative diseases, heart and kidney diseases, and other rare diseases. For more information, please visit: www.daiichisankyo.com. Daiichi
Sankyo, Inc., headquartered in Parsippany, New Jersey, is a member of the Daiichi Sankyo Group. For more information on Daiichi Sankyo, Inc., please visit www.dsi.com. 

  
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 Contact: 

Zymeworks: 
 Media Inquiries 

Michael Lampe 
 (484)
575-5040 
 michael@scientpr.com 

Investor Inquiries 
 Stephanie Carrington 

ICR Inc. 
 (646) 277-1282

 stephanie.carrington@icrinc.com 
 Zymeworks Inc. 

David Poon, Ph.D.Executive Director, External R&D and Alliances 

(604) 678-1388 

bd@zymeworks.com 
 Daiichi Sankyo: 

Jennifer Brennan 
 Daiichi Sankyo, Inc. 

jbrennan2@dsi.com 
 +1 973 944 2393 (office) 

+1 201 709 9309 (mobile) 

  
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