Document:

EX-10.8

 Exhibit 10.8 

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND 

REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM 

THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE 

COMPETITIVE HARM TO THE COMPANY IF DISCLOSED. 

EXCLUSIVE LICENSE AGREEMENT 

THIS EXCLUSIVE LICENSE AGREEMENT (this “Agreement”) dated as of December 9, 2019 (the “Effective Date”) is entered
into by and among Advantagene, Inc., a Delaware corporation, d/b/a Candel Therapeutics (“Candel”), having a place of business at 117 Kendrick Street, Suite 450, Needham, MA 02494, Periphagen, Inc, a Delaware corporation
(“Periphagen”), having a place of business at 2403 Sidney Street, Suite 255, Pittsburgh, PA 15203, and, as to certain provisions herein, Periphagen Holdings, Inc., a Delaware corporation (“Holdings”), having a place of business
at 2403 Sidney Street, Suite 255, Pittsburgh, PA 15203. 
 WHEREAS, Periphagen owns or has rights in the Products (as defined herein). 

WHEREAS, Candel desires to obtain an exclusive license under Periphagen’s rights in the Products on the terms and conditions set forth
below. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained, the parties hereby agree as
follows: 
 1.    DEFINITIONS 

For purposes of this Agreement, the terms defined in this Section 1 shall have the respective meanings set forth below: 

1.1    “Affiliate” means, with respect to any Person, any other Person which directly or indirectly
controls, is controlled by, or is under common control with, such Person. A Person shall be regarded as in control of another Person if it owns, or directly or indirectly controls, at least [***] percent ([***]%) of the voting stock or other
ownership interest of the other Person, or if it directly or indirectly possesses the power to direct or cause the direction of the management and policies of the other Person by any means whatsoever. 

1.2    “ATCC Agreement” means the material transfer agreement entered into between Periphagen and the
American Type Culture Collection dated November 15, 2011. 
 1.3    “Candel Improvements” means
Improvement(s) invented or derived by Candel. 
 1.4    “Combination Product” means any pharmaceutical
product that comprises, contains, or incorporates (a) a Royalty Product and (b) at least one other active ingredient, either co-formulated or packaged together and sold as a single unit for a single
price. For clarity, “Combination Product” does not include any combination therapy that includes (x) a Royalty Product and (y) at least one other product which is not a Royalty Product, either administered or prescribed jointly,
but which are not sold together for a single price. 

 1.5    “Commercialization” means the conduct of all
activities undertaken after Registration relating to the promotion, sales, marketing, medical support, and distribution (including importing, exporting, transporting, customs clearance, warehousing, invoicing, handling, and delivering Royalty
Products to customers) of Royalty Products in the Field in the Territory, as applicable, including sales force efforts, detailing, advertising, market access (including price and reimbursement activities), medical education and information services,
marketing, sales force training, and sales (including receiving, accepting, and filling Royalty Product orders) and distribution. “Commercialize” and “Commercializing” have correlative meanings. 

1.6    “Commercially Reasonable Efforts” means, with respect to Candel’s obligations under
Section 8.1 of this Agreement, those diligent and sustained efforts and resources consistent with the usual practices of a then similarly situated company for the research, development, manufacture, and commercialization of a pharmaceutical
product controlled by it, which is at a similar stage of research, development, or commercialization, is in a similar therapeutic and disease area, and is of similar market potential, taking into account such product’s: (i) profile of
efficacy and safety; (ii) proprietary position, including patent and regulatory exclusivity; (iii) regulatory status, including anticipated or approved labeling and anticipated or approved post-approval requirements; (iv) present and
future market and commercial potential, including competitive market conditions and the expected and actual profitability and return on investment; (v) the expected and actual competitiveness of alternative products (including generic or
biosimilar products) under development or sold in the marketplace; (vi) relative strategic value with respect to other compounds and products in its portfolio of compounds and products; and (vii) all other relevant factors, including
technical, legal, scientific, and medical factors. Commercially Reasonable Efforts requires that Candel allocate sufficient resources to achieve the objectives in Section 8.1.1 and 8.1.2, all within the context of the personnel and other
resource constraints of a similarly situated company. 
 1.7    “Competent Authority(ies)” means,
collectively, the governmental entities in each country in the Territory responsible for (a) the regulation of any Product intended for use in the Field, including the FDA, the EMEA and the MHLW, (b) the establishment, maintenance and/or
protection of rights related to the Licensed IP Rights, or (c) any other applicable regulatory or administrative agency in any country in the Territory that is comparable to, or a counterpart of, the foregoing. 

1.8    “Development” means all development activities for the Products (whether alone or for use
together, or in combination, with another active agent or pharmaceutical product as a Combination Product or combination therapy) that are directed to obtaining Registration(s) of the Products and lifecycle management of the Products in any country
in the Territory, including all non-clinical, preclinical, and clinical testing and studies of the Products; toxicology, pharmacokinetic, and pharmacological studies; statistical analyses; assay development;
protocol design and development; chemistry, manufacturing, and control activities (including formulation, process development, process qualification and validation, scale-up, analytic development, product
characterization, and stability testing); the preparation, filing, and prosecution of any Registration for the Products; development activities directed to label expansion and/or obtaining Registration for one or more additional indications
following initial Registration; development activities conducted after receipt of Registration; and all regulatory affairs related to any of the foregoing. “Develop”, “Developed”, and “Developing” have correlative
meanings. 

 1.9    “Excluded Field” means the treatment, diagnosis,
and prevention of non- oncologic skin diseases and conditions (including use as an aesthetic). 

1.10    “Improvements” means any improvement, invention (whether patentable or not), innovation,
information and data, developed or derived from the Licensed IP Rights by either party to this Agreement at any time during the Term, which would be reasonably useful or necessary in the manufacture, use or sale of a Product, or the practice of
which would infringe an issued or pending claim in a Patent or patent applications within the Licensed IP Rights. 

1.11    “Field” means all fields of use with the sole exception of the Excluded Field. 

1.12    “First Commercial Sale” means, with respect to any Royalty Product, the first sale of such
Product after all applicable marketing and pricing approvals (if any) have been granted by the applicable governing health authority of such country. 

1.13    “Generic Penetration” means with respect to a Royalty Product in a country in the Territory,
where one or more Generic Products have achieved market penetration exceeding [***] percent ([***]%) on sales volume basis with respect to such Royalty Product in such country. 

1.14    “Generic Product” means, on a Royalty Product by Royalty Product and country by country basis in
the Territory, a pharmaceutical product sold by a Third Party, other than pursuant to a direct or indirect license, sales agreement, distribution agreement or other similar contract from Candel or its Affiliates, and that is based upon an
application (a) wherein the pharmaceutical product is identical in active ingredients, efficacy/effectiveness and usage/dosage as the Royalty Product, which is the foreign equivalent of an Abbreviated New Drug Application (ANDA) application in
the U.S, and/or (b) for approval of a modified drug, or a drug for data-based re-evaluation, which is the foreign equivalent of the 505(b)(2) New Drug Approval application in the U.S and/or (c) a
biological product that has received Marketing Approval for an applicable country and that is based upon an application wherein the biological product is “similar” to or “interchangeable” with the Product (as such terms are
defined in The Biologics Price Competition and Innovation Act of 2009, as amended, or its foreign equivalent), with similar efficacy/effectiveness and usage/dosage as the Royalty Product. 

1.15    “Gene Transfer Neuro-Asset “ means a Product that is primarily derived from or
based upon a Herpes Simplex Virus Derived Assets or any of the Licensed IP Rights developed by Periphagen prior to the Effective Date, excluding NT-3 Assets (i.e. a Product cannot be both a Gene Transfer Neuro
Asset and NT-3 Asset) designed for neurologic gene transfer to diagnose, treat or prevent non-oncologic neurological conditions and diseases, and any Candel Improvements
thereto. 
 1.16    “Gene Transfer Neuro-Asset Disposition Income” means the aggregate consideration
received by Candel from a Third Party, for the grant of any license, assignment, or other disposition of intellectual property rights for the development and commercialization of 

 
Gene Transfer Neuro Assets to treat non-oncologic neurological conditions and diseases, inclusive of upfront payments, milestone payments, and other
payments, but excluding the following: (a) payments received by Candel from the sale, issuance or exchange of its debt or equity securities that are not directly related to or in consideration for the disposition of such Gene Transfer
Neuro-Assets (i.e. such payment must be remitted specifically for the acquisition of the Gene Transfer Neuro-Assets Asset substantially by itself); (b) payments received by Candel that are negotiated in an arm’s length transaction (e.g. not
with an Affiliate) and specifically designated in any agreement to be dedicated to the manufacture, supply, research and development of such Gene Transfer Neuro-Assets; (c) the establishment of a direct sales force; and (d) royalty
payments, provided, however, items (b) and (c) cannot reduce Gene Transfer Neuro-Asset Disposition Income by more than [***] ([***]%) percent. 

1.17    “Herpes Simplex Virus Derived Assets” means products that use herpes simplex virus derived assets
developed by Periphagen prior to the Effective Date. 
 1.18    “IP Asset Purchase Agreement” means that
certain Intellectual Property Assignment Agreement between the parties hereto on even date herewith. 

1.19    “Licensed IP Rights” means (a) all Patent Rights and
know-how owned or otherwise controlled by Periphagen (whether by license, sublicense or otherwise), tangible and intangible and whether patentable or not, listed on Schedule 1.19(a), inclusive of all related
trade secrets, formulations, protocols, results of experimentation, data, preclinical or clinical study designs, plasmids and cell lines (or any derivatives thereof), information or results, other proprietary materials, processes, regulatory
information or documentation, including but not limited to manufacturing processes, data, drawings and sketches, designs, testing and test results, including any documents, correspondence, licenses, permits, pertinent to or supportive of the
Registrations, in each case existing as of the date of this Agreement; (b) Periphagen Improvements (including any Patents or patent applications or other rights resulting or derived from such Periphagen Improvements) including, without
limitation, that know-how and other intellectual property conceived or derived from the work being performed under Section 3.2 of the equipment agreement by and among the Parties hereto as of the date
hereof; and (c) Patents that have issued or will issue in the future or patent applications that exist or are filed in the future, in each case that claim or cover the know-how described in the preceding
Sections 1.19(a) and 1.19(b). 
 1.20    “Net Sales” means, with respect to any Royalty Product, the
gross sales price of such Royalty Product invoiced by Candel, or its Affiliate (or any sublicensee, assignee, or transferee thereof, if applicable), to Third Parties who are not Affiliates (or are Affiliates but are the end users, final purchasers,
or distributors of such Product) less, to the extent actually paid or accrued by Candel or its Affiliate (as applicable), (a) credits, allowances, discounts and rebates to, and chargebacks from the account of, such customers for damaged, outdated
and returned Royalty Product; (b) freight and insurance costs incurred by Candel or its Affiliate (as applicable) in transporting such Royalty Product to such customers; (c) cash, quantity and trade discounts, rebates and other price
reductions for such Royalty Product given to such customers under price reduction programs; (d) sales, use, value-added and other direct taxes incurred on the sale of such Royalty Product to such customers; (e) customs duties, surcharges
and other governmental charges incurred in exporting or importing such Royalty Product to such customers. 

 1.21    “NT-3
Asset” means a Product that is a Herpes Simplex Virus Derived Asset expressing neurotrophin-3 (by way of example, PGN-503 is an example of one such NT-3 Asset) and any Candel Improvements thereto for the treatment, diagnosis, or prevention of non- oncologic neurological diseases and conditions. 

1.22    “NT-3 Disposition Income” means the aggregate
consideration received by Candel or its Affiliate from a Third Party, for the grant of any license, assignment, or other disposition of intellectual property rights for the Development and Commercialization of an
NT- 3 Asset(s) for the treatment of non-oncologic neurological diseases and conditions, inclusive of upfront payments, milestone payments, and other payments, but
excluding the following: (a) payments received by Candel from the sale, issuance or exchange of its debt or equity securities that are not directly related to or in consideration for (i.e. remitted specifically for the acquisition of the NT-3 Asset by itself) the disposition of such NT-3 Asset(s); (b) payments received by Candel that are specifically designated in any agreement to be dedicated to the
manufacture, supply, research and development of such NT-3 Asset(s) (c) the establishment of a direct sales force; and (d) royalty payments, provided, however, items (b) and (c)
cannot reduce NT-3 Disposition Income by more than [***] ([***]%) percent. 

1.23    “Patents” means all patents in any country in the world, including: (a) all patents,
certificates of invention, applications for certificates of invention, priority patent filings, and patent applications, and (b) any renewals, divisions, continuations (in whole or in part), or requests for continued examination of any of such
patents, certificates of invention and patent applications, and any all patents or certificates of invention issuing thereon, and any and all reissues, reexaminations, extensions, supplementary protection certificates, divisions, renewals,
substitutions, confirmations, registrations, revalidations, revisions, and additions of or to any of the foregoing. 

1.24    “Patent Rights” means (a) the Patents and patent applications, if any, owned or otherwise
controlled by Periphagen (whether by license, sublicense or otherwise), (b) all divisions, continuations, and continuations-in-part that claim priority to, or common
priority with, the patent applications listed in clause (a) or the patent applications that resulted in the Patents described in clause (a), and (c) all Patents that have issued or in the future issue from any of the foregoing patent
applications, including utility, model and design patents and certificates of invention, together (in each of the cases of (a)-(c)) with any reissues, renewals, extensions or additions thereto. 

1.25    “Periphagen Improvements” means Improvement(s) invented or conceived by Periphagen or its
Affiliates during the Term but prior to the date on which Periphagen is (a) acquired by or sold to a Third Party (whether by merger, consolidation or otherwise, and whether in a single transaction or a series of related transactions) or
(b) substantially all of the Licensed IP Rights in the Excluded Field are assigned or licensed by Periphagen to a Third Party on an exclusive basis, excluding, however, any Periphagen Improvement that is the property of Diamyd Medical AB as a
result of the performance of the Dymaed Work (as such term is defined in the IP Asset Purchase Agreement). 

 1.26    “Person” means an individual, corporation,
partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically
listed herein. 
 1.27    “Product(s)” means any product that is made, used, sold, offered for sale, exported
or imported that incorporates the Licensed IP Rights. 
 1.28    “Regulatory Exclusivity” means, with
respect to a Product, any exclusive marketing rights or data exclusivity rights conferred by the applicable Competent Authority with respect to the Product other than a Patent. 

1.29    “Researchers” means Dr. David Krisky and Dr. James Wechuck. 

1.30    “Registration(s)” means any and all permits, licenses, authorizations, registrations or
regulatory approvals (including NDAs) required and/or granted by any Competent Authority as a prerequisite to the development, manufacturing, packaging, marketing and selling of any Product. 

1.31    “Right of Reference” shall have the meaning set forth in Section 3.4. 

1.32    “Royalty Product” means a Gene Transfer Neuro Asset or a
NT-3 Asset. 
 1.33    “Royalty Term” means, on a Royalty
Product by Royalty Product basis and country by country basis, the time commencing upon the commercial sale of any Royalty Product until the later to occur of that date (i) that there is no longer patent protection, if any, or Regulatory
Exclusivity in a particularly country resulting in royalties to become due and payable under this Agreement from the sale of such Royalty Product, as applicable and as provided hereunder, or (ii) that there is Generic Penetration in such
country (assuming the applicable Royalty Product is generating sales is such country), provided, however, that in no case shall the Royalty Term extend beyond [***] years from the Effective Date. 

1.34    “Term” shall have the meaning set forth in Section 11.1. 

1.35    “Territory” means the world. 

1.36    “Third Party” means any Person other than Periphagen, Candel and their respective Affiliates
(“Third Parties” to have the correlative meaning). 
 2.    REPRESENTATIONS AND WARRANTIES 

Each party hereby represents and warrants to the other party as follows: 

2.1    Corporate Existence. Such party is a corporation duly organized, validly existing and in good standing under
the laws of the state in which it is incorporated. 
 2.2    Authorization and Enforcement of Obligations. Such
party (a) has the corporate power and authority and the legal right to enter into this Agreement and to perform its 

 
obligations hereunder and (b) has taken all necessary corporate action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder.
Specifically, in the case of Periphagen and Holdings, it shall have obtained the duly authorized consent of both its board of directors and the majority of its stockholders to enter this Agreement, such consents to be provided to Candel immediately
prior to execution of this Agreement. This Agreement has been duly executed and delivered on behalf of such party, and constitutes a legal, valid, binding obligation, enforceable against such party in accordance with its terms. 

2.3    No Consents. All necessary consents, approvals and authorizations of all governmental authorities and other
Persons required to be obtained by such party in connection with this Agreement have been obtained. 
 2.4    No
Conflict. The execution and delivery of this Agreement and the performance of such party’s obligations hereunder (a) do not conflict with or violate any requirement of applicable laws or regulations, and (b) do not conflict with,
or constitute a default under, any contractual obligation of it. 
 3.    Licensed IP Rights. Each Periphagen and
Holdings hereby represents and warrants to Candel as follows: 
 3.1    Periphagen (i) is the sole owner or
exclusive licensee of the Licensed IP Rights and has not granted to any Third Party any license or other interest in the Licensed IP Rights, (ii) is not aware of any Third Party patent, patent application or other intellectual property rights
that would be infringed by practicing any process or method or by making, using or selling any composition which is claimed or disclosed in the Licensed IP Rights, and (iii) except as scheduled on Schedule 3.1.1(iii), is not aware of any Third
Party activities that may likely constitute an infringement or misappropriation by such Third Party of the Licensed IP Rights. 

3.2    Periphagen has no knowledge of any suits or action, administrative, arbitration or other proceedings, or
governmental investigations pending or, to the knowledge of Periphagen, threatened against or affecting Periphagen with respect to the Licensed IP Rights. No Third Party has notified Periphagen of any material claim against it alleging any personal
property or economic injury, loss or damage incurred as a result of or relating to the use of any Product. There is no judgment, order, injunction, decree, writ or award against Periphagen that is not satisfied and remains outstanding with respect
to the Licensed IP Rights or any Product. Periphagen does not have any obligation or agreement to remit fees, royalties, milestone payments or other payments to any Third Party as a result of the use, manufacture, sale, development or
commercialization of any Product. 
 3.3    Holdings hereby represents and warrants that Holdings does not own or
control any right to the Licensed IP Rights. To the extent that the foregoing is not true and correct, and Holdings owns or controls some or all of the Licensed IP Rights, it hereby transfers and assigns all of its right, title and interest to the
Licensed IP Rights to Periphagen and shall execute any and all documents, assignments, or other items as requested by Candel to effect the foregoing. 

 3.4    The [***] is unrelated to herpes simplex virus. Periphagen has
not used, is not using and will not use any Licensed IP Rights in the performance of the [***]. 
 4.    LICENSE
GRANT 
 4.1    Exclusive License. Periphagen hereby grants to Candel an exclusive (as further described in
Section 4.2 below) license, with the right to grant sublicenses through multiple tiers, to practice under the Licensed IP Rights, to conduct research and to develop, make, have made, use, have used, offer for sale, sell, have sold, export and
import Products in the Territory for use in the Field. 
 4.2    Exclusive. Periphagen hereby acknowledges and
agrees that the rights granted to Candel in Section 4.1 are exclusive and, accordingly, during the Term Periphagen and its Affiliates will not (i) develop, make, have made, use, have used, offer for sale, sell, have sold, export and import
Products in the Field or (ii) grant a license, assign or otherwise transfer to Third Parties the right to develop, make, have made, use, offer for sale, sell, have sold, export and import Products for use in the Field. The use, manufacture or
sale of Products by Periphagen, its Affiliates, sublicensees, assignees or transferees (as applicable) for use in the Field during the Term shall be a material breach of this Agreement by Periphagen. Products incorporating Candel Improvements may
not be used in the Excluded Field without prior written approval of Candel and Candel is not obligated to license, transfer or assign Candel Improvements to Periphagen. 

4.3    Freedom to Operate. If Periphagen cannot practice the Licensed IP Rights in the Excluded Field because such
practice will infringe an issued or pending claim in a Patent or patent application(s) that claims or covers a Candel Improvement, then Candel shall grant and hereby grants Periphagen a non-exclusive,
nontransferable, fully-paid, royalty free license to practice the Licensed IP Right under such patent application or Patent claiming or covering such Candel Improvement in the Excluded Field during the Term, provided, however, such license shall
expire upon the time that (i) Periphagen is acquired by or sold to a Third Party (whether by merger, consolidation or otherwise, and whether in a single transaction or a series of related transactions) or (ii) subject to Sections 4.1 and
4.2, Periphagen licenses substantially all of its rights under the Licensed IP Rights in the Excluded Field to a Third Party. 

4.4    Availability of the Licensed IP Rights. Periphagen shall provide Candel with a copy of all information
available to Periphagen relating to the Licensed IP Rights in the Field, including without limitation, if available: (a) regulatory submissions, (b) communications with the Competent Authorities (including the minutes of any meetings), (c)
trial master files, including case report forms, (d) listings and tables of results from the clinical trials, (e) treatment-related serious adverse event reports from the clinical trials, (f) storage of and access permission to any
retained samples of materials used in clinical trials, (g) material data in- vitro and in-vivo- data, (h) manufacturing technical documents, and
(i) access to CROs involved in the clinical trials. 
 4.5    Registrations. Periphagen acknowledges and
agrees that Candel shall own all Registrations for Products in the Field in each country in the Territory. Periphagen hereby grants to Candel a free-of-charge right to
reference and use and have full access to all 

 
Registrations and all other regulatory documents that relate to the Licensed IP Rights and/or Products, including as may be applicable INDs, BLAs, NDAs and DMFs (whether as an independent
document or as part of any NDA, and all chemistry, manufacturing and controls information), and any supplements, amendments or updates to the foregoing (for the purposes of this Section, the “Right of Reference”). Candel shall have the
right to (sub)license the Right of Reference for use in the Field through multiple tiers. 
 5.    FINANCIAL
CONSIDERATIONS 
 5.1    In consideration for the licenses granted to Candel herein, and other good and valuable
consideration, the receipt of which is hereby acknowledged, Candel shall remit to Periphagen [***] Dollars. 

5.2    Royalties. As further consideration for the license granted to Candel 

herein, during the Royalty Term, Candel shall remit to Periphagen, with respect to each Royalty Product, the payments set forth in this Section 5.2. 

5.2.1    NT-3 Asset Royalties. 

(a)    If Candel, its subsidiaries or Affiliates, Commercializes an NT-3 Asset
itself (i.e. it is not sold or otherwise Commercialized by Candel’s licensee, sublicensee, assignee or transferee for the treatment of non-oncologic neurological diseases and conditions,), then Candel
will remit [***]% percent of any NT-3 Asset’s Net Sales to Periphagen. 

(b)    If an NT-3 Asset is licensed, sublicenses, assigned or otherwise
transferred to a Third Party by Candel for Commercialization, then Candel shall remit to Periphagen [***] percent ([***]%) of the royalties received by Candel, if any, as a result of such license, sublicensee, assignment or other transfer, but no
greater than [***]% of Net Sales of such Third Party licensee, sublicensee, assignee, or transferee. 

5.2.2    Gene Transfer Neuro-Asset Royalties. 

(a)    If Candel, its subsidiaries or Affiliates, Commercializes a Gene Transfer Neuro-Asset itself (i.e. it is not sold
or otherwise Commercialized by Candel’s licensee, sublicensee, assignee or transferee) to treat non-oncologic neurological conditions and diseases, then Candel will remit a [***]% percent of such Gene
Transfer Neuro-Asset’s Net Sales to Periphagen. 
 (b)    If a Gene Transfer Neuro-Asset is licensed, sublicensed,
assigned or otherwise transferred to a Third Party by Candel for Commercialization to treat non- oncologic neurological conditions and diseases, then Candel shall remit to Periphagen [***] percent ([***]%) of
the royalties received by Candel, if any, as a result of such license, sublicense, assignment or other transfer, but no greater than [***]% of Net Sales of such Third Party licensee, sublicensee, assignee, or transferee. 

 5.2.3    Third Party Royalties. If Candel, its Affiliates (or
sublicensees, assignees, or transferees, as applicable) is required to pay royalties to any Third Party, as required by the order of a court or Competent Authority, or as agreed to privately by Candel and such Third Party, in each case to acquire or
otherwise gain intellectual property rights (including a patent license or assignment, or access to regulatory market exclusivity) reasonably necessary to make, have made, use, sell, offer to sale or import any Royalty Product, then Candel shall
have the right to credit such Third Party royalty payments against the royalties owing to Periphagen under Section 5.2.1 or Section 5.2.2 above with respect to sales of such Royalty Product in such country; provided, however,
that Candel shall not reduce the amount of the royalties paid to Periphagen under Section 5.2.1 or Section 5.2.2 above by reason of this Section 5.2.3, with respect to sales of such Royalty Product in such country, by more than [***]
([***]%) percent in the aggregate with all royalty reductions with Third Party royalty payments qualifying hereunder. 

5.2.4    Combination Products. In the event a Royalty Product is sold as part of a Combination Product in a
country, the Net Sales with respect to the Combination Product in such country shall be determined by multiplying the Net Sales amount for the Combination Product during the applicable reporting period, calculated as set forth above, by the fraction
A/(A+B), where A is the weighted average sale price (by sales volume) of the Royalty Product in such country when sold separately, and B is the weighted average sales price of the other active ingredient(s) in the Combination Product in such country
when sold separately, in each case in the same dosage and dosage form and in the same country as the Combination Product during the applicable reporting period. If the other active ingredient(s) in the Combination Product is not sold separately in
such country during the applicable reporting period, Net Sales shall be calculated by multiplying actual Net Sales of such Combination Product by a fraction A/C where A is the weighted average sale price (by sales volume) of the Royalty Product in
such country when sold separately, and C is the weighted average sale price (by sales volume) of the Combination Product in such country. If neither the Royalty Product nor the other active ingredient(s) were sold separately in such country during
the applicable reporting period, then the respective average sales prices during the most recent reporting period in which sales of both occurred in the same country as the Combination Product shall be used. In the event that the weighted average
sale price (by sales volume) of the Royalty Product is not available in a given country for any reporting period, then the average sales prices (weighted by sales volume) of the respective products described above (in the same dosage and dosage form
as the Combination Product) in a proxy country to be agreed upon by both Parties will be used (such agreement not be unreasonably withheld, conditioned, or delayed), and if the Parties cannot agree upon such proxy country, or no such comparable
sales figures are available in an appropriate proxy country, Net Sales for the applicable Combination Product shall be allocated based on the relative value contributed by each component (such relative value to be to be agreed upon by the Parties
or, if the Parties cannot agree, to be determined by through arbitration pursuant to the rules of the AAA). 

5.3    Asset Disposition Income. In further consideration for the licenses granted to Candel herein, during the
Royalty Term, Candel shall remit to Periphagen the payments set forth below. 

 5.3.1    NT-3 Disposition
Income. Candel shall remit to Periphagen, Seven and one-half percent ([***]%) of NT-3 Disposition Income. 

5.3.2    Gene Transfer Neuro-Asset Disposition Income. 

(a)    If Candel consummates a strategic collaboration or transaction with any party listed on Schedule 5.3.2(a) on
or before the date that is [***] from the Effective Date, for a Gene Transfer Neuro-Asset to treat non-oncologic neurological conditions and diseases, then Candel shall remit [***]% of the resulting Gene
Transfer Neuro-Asset Disposition Income to Periphagen. 
 (b)    If Candel consummates any strategic collaboration for
a Gene Transfer Neuro-Asset to treat non-oncologic neurological conditions and diseases, other than a collaboration described in the preceding Section 5.3.2(a), then Candel shall remit [***] % of the
resulting Gene Transfer Neuro-Asset Disposition Income to Periphagen. 
 5.4    Assumption of Periphagen Debt and
Obligations. As further consideration for the license granted hereunder, Candel will enter into the Novation Agreement and Sublease Assignment Agreement substantially in the forms attached hereto as Exhibit 4.4. 

5.5    No Additional Payments. 

5.5.1    A Royalty Product cannot be both an NT-3 Asset and a Gene Transfer
Neuro-Asset, and accordingly, royalty payments hereunder can only be made on a single Royalty Product under either 5.2.1 or 5.2.2 (as applicable), but in no case both sections. 

5.5.2    If Candel sells or Commercializes a Product that is not a Royalty Product, it shall not owe Periphagen royalty
or other payments under Section 5.2 or 5.3 or otherwise. 
 6.    ROYALTY REPORTS AND ACCOUNTING 

6.1    Royalty Reports. Within [***] days after the end of each calendar quarter during the term of this Agreement
following first to occur of the First Commercial Sale of a Royalty Product and the receipt by Candel or its Affiliates of NT-3 Disposition Income or Gene Transfer Neuro-Asset Disposition Income to the end of
the Royalty Term, Candel shall furnish to Periphagen a quarterly written report showing in reasonably specific detail (a) the calculation of Net Sales during such calendar quarter; (b) the calculation of
NT-3 Disposition Income or Gene Transfer Neuro-Asset Disposition Income (as applicable) for such quarter; (c) the calculation of the royalties, if any, that shall have accrued to Periphagen based upon
such Net Sales, if any; (d) the withholding taxes, if any, required by law to be deducted with respect to such sales; and (e) the exchange rates, if any, used in determining the amount of United States dollars. With respect to sales of
Royalty Products invoiced in United States dollars, the gross sales, Net Sales and royalties payable shall be expressed in United States dollars. With respect to (i) Net Sales invoiced in a currency other than United States dollars and
(ii) cash consideration paid in a currency other than United States dollars by Candel’s sublicensees hereunder, all such amounts shall be expressed both in the currency in which the distribution is invoiced and in the United States dollar
equivalent. The United States dollar equivalent shall be calculated using the average of the exchange rate (local currency per US$1) published in The Wall Street Journal on the last business day of each month during the applicable calendar
quarter. 

 6.2    Audits. 

6.2.1    Following the First Commercial Sale of a Royalty Product, upon the written request of Periphagen and not more
than once in each calendar year, Candel shall permit an independent certified public accounting firm of nationally recognized standing selected by Periphagen and reasonably acceptable to Candel, at Periphagen’s expense, to have access during
normal business hours to such of the financial records of Candel as may be reasonably necessary to verify the accuracy of the payment reports hereunder for the eight (8) calendar quarters immediately prior to the date of such request (other
than records for which Periphagen has already conducted an audit under this Section). 
 6.2.2    If such accounting
firm concludes that additional amounts were owed during the audited period, Candel shall pay such additional amounts within [***] days after the date Periphagen delivers to Candel such accounting firm’s written report so concluding. The fees
charged by such accounting firm shall be paid by Periphagen, provided, however, if the audit discloses that the royalties payable by Candel for such period are more than [***] percent ([***]%) of the royalties actually paid for such
period, then Candel shall pay the reasonable fees and expenses charged by such accounting firm. 
 6.2.3    Periphagen
shall cause its accounting firm to retain all financial information subject to review under this Section 6.2.3 in strict confidence; provided, however, that Candel shall have the right to require that such accounting firm,
prior to conducting such audit, to enter into an appropriate non-disclosure agreement with Candel regarding such financial information. The accounting firm shall disclose to Periphagen only whether the reports
are correct or not and the amount of any discrepancy. No other information shall be shared. Periphagen shall treat all such financial information as Candel’s Confidential Information. 

7.    PAYMENTS 

7.1    Payment Terms. Royalties shown to have accrued by each royalty report provided for under Section 5.1
above shall be due on the date such royalty report is due. Payment of royalties in whole or in part may be made in advance of such due date. Amounts which are not paid when due shall accrue interest from the due date until paid, at a rate equal to
the then prevailing prime rate of Citibank, N.A., plus [***] percent ([***]%). 
 7.2    Exchange Control. If at
any time legal restrictions prevent the prompt remittance of part or all royalties with respect to any country in the Territory where the Royalty Product is sold, Candel shall have the right, in its sole discretion, to make such payments by
depositing the amount thereof in local currency to Periphagen’s account in a bank or other depository institution in such country. If the royalty rate specified in this Agreement should exceed the permissible rate established in any country,
the royalty rate for sales in such country shall be adjusted to the highest legally permissible or government-approved rate. 

7.3    Withholding Taxes. Candel shall be entitled to deduct the amount of any withholding taxes, value-added taxes
or other taxes, levies or charges with respect to such 

 
amounts, other than United States or any income related taxes in any other jurisdiction, payable by Candel, its Affiliates or sublicensees, or any taxes required to be withheld by Candel, its
Affiliates or sublicensees, to the extent Candel, its Affiliates or sublicensees pay to the appropriate governmental authority on behalf of Periphagen such taxes, levies or charges. Candel shall use reasonable efforts to minimize any such taxes,
levies or charges required to be withheld on behalf of Periphagen by Candel, its Affiliates or sublicensees. Candel promptly shall deliver to Periphagen proof of payment of all such taxes, levies and other charges, together with copies of all
communications from or with such governmental authority with respect thereto. 
 8.    RESEARCH AND DEVELOPMENT
OBLIGATIONS 
 8.1    NT-3 Development. Candel commits to the use of
Commercially Reasonable Efforts to complete a human proof of concept clinical trial, consistent with Good Clinical Practices, of an NT-3 Asset (PGN-503 is an example of
one such NT-3 Asset) for chemotherapy induced peripheral neuropathy (such clinical trial, the “NT-3 Trial”). The NT-3
Trial will be comprised of a number of subjects sufficient, as determined in good faith by Candel consistent with Good Clinical Practices prior to the launch of the NT-3 Trial, for management of Candel to
evaluate, in its own reasonable discretion, whether resulting safety and potential efficacy and other data justify advancement to later stage clinical development. In furtherance of and subject to the foregoing, Candel will use Commercially
Reasonable Efforts to: 
 8.1.1    File the IND for the NT-3 Trial no more than
[***] months from a GMP NT-3 Asset product release and a clinical protocol approved by the designated principal investigator(s); and 

8.1.2    Enroll the first patient in the NT-3 Trial within [***] months of the
regulatory allowance of the IND corresponding to the clinical protocol specified in 8.1.1 above. 
 8.2    If Candel is
found to be in violation of the foregoing obligations, it shall be entitled to a [***] month extension of any such deadline set forth in 8.1.1 or 8.1.2 above, provided, however, a four (4) member committee is promptly established
consisting of the Researchers and two additional appointees by Candel management. Such committee shall determine if Candel is using Commercially Reasonable Efforts to timely complete the foregoing diligence obligations and may extend the foregoing
diligence deadlines beyond [***] months if the committee deems it reasonable. However, should the Researchers disagree that such extension is reasonable in light of the circumstances, the committee will select an independent arbitrator with
recognized experience in the drug approval process pursuant to Section 12 to determine if Candel’s further requested delay is scientifically and/or commercially reasonable in light of the circumstances. If such arbitrator determines that
such delay is not scientifically and/or commercially reasonable in light of the circumstances and thereby Candel has not been using Commercially Reasonable Efforts to satisfy its obligations under 8.1.1 or 8.1.2, then within [***] days of such
arbitrator’s decision, Candel may, in its sole discretion, remit [***] ($[***]) Dollars to Periphagen for an extension of [***] years from the date of the arbitrator’s decision (“Extension Period”) to satisfy its obligations set
forth in 8.1.1 and 8.1.2. If Candel does not timely remit the foregoing payment, then Periphagen has the right, but not the obligation, to terminate this Agreement pursuant to Section 11.3(ii). 

 8.3    At the completion of the Extension Period (if applicable), if the
deadlines set forth in 8.1.1 or 8.1.2 above are not complete due to the failure of Candel to use its Commercially Reasonable Efforts, then Periphagen has the right, but not the obligation, to terminate this Agreement pursuant to
Section 11.3(ii). 
 8.4    Expansion of Excluded Field. 

8.4.1    Nothing in this Agreement shall obligate Candel to spend any resources to manufacture, develop or commercialize
any additional NT-3 Asset or other Product (including but not limited to a Gene Transfer Neuro-Asset), except as specifically set forth in this Section 8. 

8.4.2    Termination of NT-3 Programs. 

(a)    Following completion of the NT-3 Trial, if Candel terminates efforts to
Develop or Commercialize the NT-3 Asset used in the NT-3 Trial, then, subject to 8.4.2(b), Periphagen may elect to expand its retained right and interest to such NT-3 Asset by electing to modify the meaning of Excluded Field to include the use of such NT-3 Asset for “the treatment, diagnosis, or prevention of non-oncologic neurological diseases and conditions.” Upon such election by Periphagen, Candel shall grant and hereby grants Periphagen a non-exclusive, royalty free,
sublicensable, and transferable (solely in connection with the sale of Periphagen) license to those Candel Improvements reasonably required and solely for Periphagen, its licensees, successors or assigns, to develop and commercialize such NT-3 Asset for the treatment, diagnosis, or prevention of non-oncologic neurological diseases and conditions. 

(b)    Notwithstanding Section 8.4.2(a), Candel may elect to prevent Periphagen from modification of the Excluded
Field (and thereby return of rights to such NT-3 Asset to Periphagen), if Candel (i) is concurrently using Commercially Reasonable Efforts to Develop and Commercialize an
NT-3 Asset or Gene Transfer Neuro Asset targeting the same or a competitive indication or (ii) is concurrently using commercially reasonable efforts to license, sell or otherwise transfer such NT-3 Asset to a Third Party. 
 8.4.3    If Candel ceases to use Commercially
Reasonable Efforts in relation to its efforts under Section 8.4.2(b), then Periphagen again has the option to expand its retained right and interest to such NT-3 Asset by electing to modify the meaning of
Excluded Field upon notice to Candel, to include the use of such NT-3 Asset for “the treatment, diagnosis, or prevention of non-oncologic neurological diseases and
conditions” and, upon such election, Candel shall grant and hereby grants Periphagen a non-exclusive, royalty free, sublicensable, and transferable (solely in connection with the sale of Periphagen)
license to those Candel Improvements reasonably required and solely for Periphagen, its licensees, successors or assigns, to develop and commercialize such NT-3 Asset for the treatment, diagnosis, or
prevention of non-oncologic neurological diseases and conditions. 

8.4.4    Should Periphagen expand its retained right and interest to such NT-3
Asset pursuant to this Section 8.4, then Candel hereby licenses to Periphagen a fully paid up right of reference to the Registrations and the data generated from the NT-3 Trial, in each case limited to
and solely for the sale, use and manufacture of such specific NT-3 Asset within the then amended Excluded Field. 

 8.5    Records. Until its obligations under this Section 8
are satisfied, Candel shall maintain records, in sufficient detail and in good scientific manner, which shall reflect all work done and results achieved in the performance of its research and development regarding the
NT-3
 Asset(s). 
 9.    CONFIDENTIALITY 

9.1    Confidential Information. During the term of this Agreement, and for a period of [***] years following the
expiration or earlier termination hereof, each party shall maintain in confidence all information of the other party that is disclosed by the other party and identified as, or acknowledged to be, or assumed to be by its nature, confidential at the
time of disclosure (the “Confidential Information”), and shall not use, disclose or grant the use of the Confidential Information except on a need-to-know
basis to those directors, officers, affiliates, employees, permitted licensees, permitted assignees and agents, consultants, clinical investigators or contractors, to the extent such disclosure is reasonably necessary in connection with performing
its obligations or exercising its rights under this Agreement. To the extent that disclosure is authorized by this Agreement, prior to disclosure, each party hereto shall obtain agreement of any such Person to hold in confidence and not make use of
the Confidential Information for any purpose other than those permitted by this Agreement. Each party shall notify the other promptly upon discovery of any unauthorized use or disclosure of the other party’s Confidential Information. 

9.2    Permitted Disclosures. The confidentiality obligations contained in Section 9.1 above shall not apply
to the extent that (a) any receiving party (the “Recipient”) is required (i) to disclose information by law, regulation or order of a governmental agency or a court of competent jurisdiction, or (ii) to disclose information
to any governmental agency for purposes of obtaining approval to test or market a product, provided in either case that the Recipient shall provide written notice thereof to the other party and sufficient opportunity to object to any such disclosure
or to request confidential treatment thereof; or (b) the Recipient can demonstrate that (i) the disclosed information was public knowledge at the time of such disclosure to the Recipient, or thereafter became public knowledge, other than
as a result of actions of the Recipient in violation hereof; (ii) the disclosed information was rightfully known by the Recipient (as shown by its written records) prior to the date of disclosure to the Recipient by the other party hereunder;
(iii) the disclosed information was disclosed to the Recipient on an unrestricted basis from a source unrelated to any party to this Agreement and not under a duty of confidentiality to the other party; or (iv) the disclosed information
was independently developed by the Recipient without use of the Confidential Information disclosed by the other party. Notwithstanding any other provision of this Agreement, Each Party may disclose Confidential Information of Periphagen relating to
information developed pursuant to this Agreement in their respective fields only to any Person with whom such Party has, or is proposing to enter into, a business relationship, as long as such Person has entered into a confidentiality agreement with
such Party, which terms shall be no less protective than hereunder. 

 9.3    Terms of this Agreement are Confidential. Except as
otherwise provided in Section 9.2 above, Periphagen and Candel shall not disclose any terms or conditions of this Agreement to any Third Party without the prior consent of the other party. Notwithstanding the foregoing, Candel and Periphagen
shall agree upon the substance of information that can be used to describe the terms of this Agreement, and Candel and Periphagen may disclose such information, as modified by mutual agreement from time to time, without the other party’s
consent. 
 10.    PATENTS 

10.1    Patent Prosecution and Maintenance. Candel shall have the right to control, at its sole cost, the
preparation, filing, prosecution and maintenance of all patents and patent applications within the Licensed IP Rights on behalf of Periphagen and subject to the license granted under this Agreement, provided, however, that it shall not
take any action that would be reasonably likely to void, eliminate, limit or restrict any claims in any Patents pertaining to the Excluded Field without the consent of Periphagen, such consent not to be unreasonably withheld. Candel shall give
Periphagen an opportunity to review and comment on the text of each material patent filing, including any patent application subject to this Section 10.1, before filing, and shall supply Periphagen with a copy of such patent application or
other material patent filing as filed, together with notice of its filing date and serial number. Accordingly, Candel shall take into account, using its good faith reasonable judgment, Periphagen’s suggestions as it relates specifically to
protecting Periphagen’s rights in the Excluded Field (that is, non-oncologic skin diseases and conditions (including use as an aesthetic)). To this end, Candel shall provide Periphagen’s patent
counsel with copies of Candel’s suggested material patent filings at least one week in advance of filing, and will delay such filing if the parties are working in good faith on a mutually acceptable text of such filing, such potential filing to
be delayed no more than [***] days from delivery of the initial draft from Candel to Periphagen. For purposes of this Section 10.1, a patent filing shall be deemed “material” if it may have the effect of defining, modifying or
limiting the scope of the claims included in a Patent or patent application, in each case under the Licensed IP Rights. Periphagen shall cooperate with Candel, execute all lawful papers and instruments and make all rightful oaths and declarations as
may be necessary in the preparation, prosecution and maintenance of all Patents and patent applications and other filings referred to in this Section 10.1. If Candel, in its sole discretion, decides to abandon the preparation, filing,
prosecution or maintenance of any patent or patent application in the Licensed IP Rights, then Candel shall notify Periphagen in writing thereof and following the date of such notice (a) Periphagen shall have the right to be responsible for and
shall control, at its sole cost, the preparation, filing, prosecution and maintenance of such Patents and patent applications, and (b) Candel shall thereafter have no license under this Agreement to such Patents and patent applications in
10.1(a) above. 
 10.2    Notwithstanding Section 10.1, if Periphagen wishes to file a patent application based on
the Licensed IP Rights not included in the Field, it shall provide Candel with the initial draft of such patent application. Candel shall then have one week to determine if Candel will prosecute such patent application itself or relinquish such
prosecution duties to Periphagen. If Candel elects to prosecute such patent application, it shall prosecute it in accordance with Section 10.1 above (i.e. Candel giving Periphagen notice of material patent filings and taking into account, in
good faith, Periphagen’s counsel’s comments relating to rights 

 
in the Excluded Field). However, Candel may decline to prosecute such Patent or patent application, in which case Periphagen may, in its discretion, take the lead, at its expense, in prosecution
of such patent application otherwise in accordance with Section 10.1 as if the parties roles were reversed (i.e. Periphagen giving Candel notice of material filings and taking into account, in good faith, Candel’s counsel’s comments
relating to rights within the Field). For clarity, (i) Periphagen shall maintain rights in the Excluded Field on such Patents and corresponding patent applications and Candel shall maintain such rights within the Field. 

10.3    Notification of Infringement. Each party shall notify the other party of any substantial infringement in
the Territory known to such party of any Licensed IP Rights and shall provide the other party with the available evidence, if any, of such infringement. 

10.4    Enforcement of Licensed IP Rights. Candel, at its sole expense, shall have the right to determine the
appropriate course of action to enforce Licensed IP Rights or otherwise abate the infringement thereof, to take (or refrain from taking) appropriate action to enforce Licensed IP Rights, to defend any declaratory judgments seeking to invalidate or
hold the Licensed IP Rights unenforceable, to control any litigation or other enforcement action and to enter into, or permit, the settlement of any such litigation, declaratory judgments or other enforcement action with respect to Licensed IP
Rights, in each case in Candel’s own name and, if required by law, in the name of Periphagen and shall consider, in good faith, the interests of Periphagen in so doing. If Candel does not, within [***] days of receipt of notice from Periphagen,
abate the infringement or file suit to enforce the Licensed IP Rights against at least one infringing party in the Territory, Periphagen shall have the right to take whatever action it deems appropriate to enforce the Licensed IP Rights,
provided, however, that, within [***] days after receipt of notice of Periphagen’s intent to file such suit, Candel shall have the right to jointly prosecute such suit and to fund up to [***] the costs of such suit. The party
controlling any such enforcement action shall not settle the action or otherwise consent to an adverse judgment in such action that diminishes the rights or interests of the noncontrolling party without the prior written consent of the other party.
All monies recovered upon the final judgment or settlement of any such suit to enforce the Licensed IP Rights shall be shared, after reimbursement of expenses, in relation to the damages suffered by each party. 

10.5    Cooperation. In any suit to enforce and/or defend the Licensed IP Rights pursuant to this Section 10,
the party not in control of such suit shall, at the request and expense of the controlling party, cooperate in all respects and, to the extent possible, have its employees testify when requested and make available relevant records, papers,
information, samples, specimens, and the like. 
 11.    TERMINATION 

11.1    Expiration. Subject to Sections 11.2, 11.3 and 11.24 below, this Agreement shall expire upon the later of
the [***] anniversary of the Effective Date or the end of the Royalty Term (such amount of time, the “Term”). Upon expiration of this Agreement (a) Candel shall have a fully paid-up, non-exclusive license under the Licensed IP Rights to make, have made, use, sell, offer for sale and import Products in the Territory for use in the Field, and (b) Section 4.5 shall survive such
expiration. 

 11.2    Termination by Candel. Candel may terminate this
Agreement, in its sole discretion and for any reason and no reason, upon [***] days prior written notice to Periphagen. 

11.3    Termination for Cause. Periphagen may terminate this Agreement (i) upon or after the breach of any
material provision of this Agreement by Candel if Candel has not cured such breach within [***] days after notice thereof by Periphagen; provided, however, if any default is not capable of being cured within such [***] day period and
Candel is diligently undertaking to cure such default as soon as commercially feasible thereafter under the circumstances, Periphagen shall have no right to terminate this Agreement until [***] days after notice thereof or (ii) in accordance
with Section 8.2 or Section 8.3, Periphagen may terminate this Agreement upon [***] days’ notice, provided, however, that upon receipt of such notice of termination pursuant to either (i) or (ii) above, Candel will
have the right, but not the obligation, to remit [***] ($[***]) Dollars to Periphagen to maintain the effectiveness of this Agreement, and thereafter such termination shall not be effective and this Agreement shall remain in full force an effect,
except that the “Field” shall thereafter mean “the sale, use or manufacture of Products for the diagnosis, prevention or treatment of cancer.” If Candel does not remit such payment to Periphagen upon expiration of such [***] day
period, then this Agreement shall terminate and no longer be in force and effect. Upon termination of this Agreement pursuant to this Section 11.3(ii), Candel will grant Periphagen a royalty free,
non-exclusive license and right to reference the Registrations for the sole purpose of supporting the Development and Commercialization of NT-3 Assets, in addition to
regulatory filings and corresponding data owned or controlled by Candel directly relating to NT-3 Assets. 

11.4    Termination for Bankruptcy. If Candel shall become bankrupt, or shall file a petition in bankruptcy, or if
the business of Candel shall be placed in the hands of a receiver, assignee or trustee for the benefit of creditors, whether by the voluntary act of Candel or otherwise, Candel shall provide notice thereof to Periphagen and Periphagen may, subject
to the effects of and protections of any applicable bankruptcy-related laws, rules, or regulations, terminate this Agreement upon notice to Candel given within [***] business days of Periphagen’s receipt of such notice. 

11.5    Effect of Termination. 

11.5.1    Expiration or termination of this Agreement shall not relieve the parties of any obligation accruing prior to
such expiration or termination, and the provisions of Sections 9, 12 and 15 shall survive the expiration or termination of this Agreement 

11.5.2    Upon any termination of this Agreement by either Party, the following terms will apply: 

(a)    Subject to Section 11.3, all licenses granted by either Party will automatically terminate; 

(b)    Candel shall promptly transfer to Periphagen all information and data provided by Periphagen in a physical form to
Candel pursuant to the activities of this Agreement. Candel shall promptly provide to Periphagen a description of the status of the Development, manufacture and Commercialization of the Products through the

 
effective date of termination in the terminated country(ies). If and to the extent requested by Periphagen, Candel shall transfer to Periphagen to all
non-clinical and clinical data, Registrations (along with copies thereof) and other reasonably requested technical and other information or materials reasonably related to Development, manufacture, or
Commercialization of the Products reasonably required by Periphagen to Develop, manufacture and Commercialize such Products after termination, provided, however, such transfer shall not include and Candel shall have no obligation to transfer Candel
Improvements, except to the extent reasonably required for the Development and Commercialization of NT-3 Assets or Gene Transfer Neuro Assets (and in such case, such transfer may consist of a non-exclusive license on reasonable and industry standard terms to be negotiated in good faith by the parties hereto). Furthermore, any Periphagen know-how shall, effective on
such termination without any further action, be the sole and exclusive Confidential Information of Periphagen only. 

(c)    To the extent that Periphagen does not wish to continue any activities being conducted by Candel to Develop,
manufacture, or Commercialize the applicable Products, Candel shall be responsible for ethically winding down such activities at its sole expense. 

(d)    All sublicenses granted under Section 4.1 by Candel to it sublicensees shall survive and be automatically
assigned from Candel to Periphagen upon termination of this Agreement, provided however, Periphagen shall not be obligated to incur any obligations in excess of those of Periphagen contained herein. 

12.    INDEMNIFICATION 

12.1    Indemnification. Candel shall defend, indemnify and hold Periphagen harmless from all losses, liabilities,
damages and expenses (including attorneys’ fees and costs) incurred as a result of any claim, demand, action or proceeding arising out of (a) the Development, manufacturing, use, handling, storage, Commercialization, or other disposition
of any Product by Candel or its Affiliates or sublicensees or the contractors of any of them, (b) the breach by Candel of any warranty, representation, covenant, or agreement made by Candel in this Agreement; and (c) the gross negligence
or willful misconduct of Candel in the performance of its obligations under this Agreement, except in each case to the extent arising from the gross negligence or willful misconduct of Periphagen or the breach of this Agreement by Periphagen.
Periphagen shall defend, indemnify and hold Candel harmless from all losses, liabilities, damages and expenses (including attorneys’ fees and costs) incurred as a result of any claim, demand, action or proceeding arising out of the gross
negligence or willful misconduct of Periphagen in the performance of its obligations under this Agreement, except in each case to the extent arising from the gross negligence or willful misconduct of Candel or the breach of this Agreement by Candel.

 12.2    Procedure. A party (the “Indemnitee”) shall promptly notify the other of any liability or
action in respect of which the Indemnitee intends to claim such indemnification, and the other party shall have the right to assume the defense thereof with counsel of its choice. The indemnity agreement in this Section 12 shall not apply to
amounts paid in settlement of any loss, claim, damage, liability or action if such settlement is effected without the consent of the other party, which consent shall not be withheld unreasonably. The failure of the Indemnitee to

 
deliver notice to the other party within a reasonable time after the commencement of any such action, if prejudicial to such other party’s ability to defend such action, shall relieve the
other party of any liability to the Indemnitee under this Section 12, but the omission so to deliver notice to such party will not relieve the Indemnitee of any liability that it may have to the other party otherwise than under this
Section 12. Each party’s employees and agents shall cooperate fully with the others and its legal representatives in the investigation and defense of any action, claim or liability covered by this indemnification. 

12.3    Insurance. Candel shall maintain product liability insurance with respect to the research, development,
manufacture and sales of Products by Candel in such amount as Candel customarily maintains with respect to the research, development, manufacture and sales of its similar products. Candel shall maintain such insurance for so long as it continues to
research, develop, manufacture or sell any Products, and thereafter for so long as Candel customarily maintains insurance covering the research, development, manufacture or sale of its similar products. 

13.    ARBITRATION. 

13.1    Arbitration. Any dispute, controversy or claim pursuant to Section 8 shall be finally resolved by
binding arbitration. Whenever a party shall decide to institute arbitration proceedings, it shall give written notice to that effect to the other party. Any such arbitration shall be conducted under the Commercial Arbitration Rules of the American
Arbitration Association by a single arbitrator appointed in accordance with such rules. Any such arbitration shall be held in Boston, Massachusetts. The arbitrator shall have the authority to grant specific performance and to allocate between the
parties the costs of arbitration in such equitable manner as they determine. Judgment upon the award so rendered may be entered in any court having jurisdiction or application may be made to such court for judicial acceptance of any award and an
order of enforcement. Notwithstanding the foregoing, either party shall have the right, without waiving any right or remedy available to such party under this Agreement or otherwise, to seek and obtain from any court of competent jurisdiction any
interim or provisional relief that is necessary or desirable to protect the rights or property of such party, pending the selection of the arbitrator hereunder or pending the arbitrator’s determination of any dispute, controversy or claim
hereunder. 
 14.    FORCE MAJEURE 

Neither party shall be held liable or responsible to the other party nor be deemed to have defaulted under or breached this Agreement for
failure or delay in fulfilling or performing any term of this Agreement to the extent, and for so long as, such failure or delay is caused by or results from causes beyond the reasonable control of the affected party including but not limited to
fire, floods, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any
governmental authority or the other party. 

 15.    MISCELLANEOUS 

15.1    Notices. Any consent, notice or report required or permitted to be given or made under this Agreement by one
of the parties hereto to the other party shall be in writing, delivered by any lawful means to such other party at its address indicated below, or to such other address as the addressee shall have last furnished in writing to the addressor and
(except as otherwise provided in this Agreement) shall be effective upon receipt by the addressee. 
  

			
	 If to Periphagen:
	    	 2403 Sidney Street, Suite 255

Pittsburgh, PA 15203 Attention: Dr. David Krisky

	 With a copy to:
	    	Dr. James Wechuck
		
	 If to Candel:
	    	 117 Kendrick Street
 Needham, MA
02494
 Attention: Chief Executive Officer

	 with a copy to:
	    	General Counsel

 15.2    Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to the conflicts of law principles thereof. 

15.3    Assignment. Candel shall not assign its rights or obligations under this Agreement without the prior
written consent of Periphagen; provided, however, that Candel may, without such consent, assign this Agreement and its rights and obligations hereunder (a) to any Affiliate, or (b) in connection with the transfer or sale of
all or substantially all of its business, or in the event of its merger, consolidation, change in control or similar transaction. Any permitted assignee shall assume all obligations of its assignor under this Agreement. 

15.4    Waivers and Amendments. No change, modification, extension, termination or waiver of this Agreement, or any
of the provisions herein contained, shall be valid unless made in writing and signed by duly authorized representatives of the parties hereto. 

15.5    Entire Agreement. This Agreement embodies the entire agreement between the parties and supersedes any prior
representations, understandings and agreements between the parties regarding the subject matter hereof. There are no representations, understandings or agreements, oral or written, between the parties regarding the subject matter hereof that are not
fully expressed herein. 
 15.6    Severability. Any of the provisions of this Agreement which are determined to
be invalid or unenforceable in any jurisdiction shall be ineffective to the extent of such invalidity or unenforceability in such jurisdiction, without rendering invalid or unenforceable the remaining provisions hereof and without affecting the
validity or enforceability of any of the terms of this Agreement in any other jurisdiction. 
 15.7    Waiver.
The waiver by either party hereto of any right hereunder or the failure to perform or of a breach by the other party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by said other party whether of a similar
nature or otherwise. 

 15.8    Counterparts. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

15.9    Holdings Matters. Holdings hereby agrees (i) to cause Periphagen to comply with each of its covenants
and agreements in this Agreement (ii) that it shall not take any action to cause Periphagen to, and shall cause Periphagen not to, adopt any plan or arrangement for the complete or partial dissolution, liquidation, merger, consolidation,
restructuring, recapitalization or other reorganization including making any voluntary declaration of or filing for bankruptcy. 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the Effective
Date. 
  

			
	PERIPHAGEN HOLDINGS, INC
	
	(as to Section 2, Section 3.3 and Section 15.9)

 
			
		
	By:	 	  

 
			
	Name: Dr. James Wechuck
	Title: Authorized Officer
	
	PERIPHAGEN, INC.

 
			
		
	By:	 	  

 
			
	Name: Dr. David Krisky
	Title Authorized Officer
	
	ADVANTAGENE, INC. D/B/A CANDEL THERAPEUTICS

 
			
		
	By:	 	  

 
			
	Name:
	Title:

 Schedule 1.19(a) 

[***][***][***][***][***][***][***][***][***][***] 

 Schedule 3.1.1 

[***] 

 Exhibit 4.4 

 

 Schedule 5.3.2 

[***][***][***][***][***][***][***]EX-10.9

 Exhibit 10.9 

THE BRIGHAM AND WOMEN’S HOSPITAL,
INC. 
 EXCLUSIVE PATENT LICENSE AGREEMENT 

BWH Agreement No: [***] 

BWH Case No: [***], [***], and [***] 

This License Agreement (“Agreement”) is made as of the 15th day of September,
2020 (“Effective Date”), by and between Advantagene, Inc., a Delaware corporation, having a principal place of business at 440 Lexington Avenue, Auburndale, MA 02466 (“Company”) and The Brigham and Women’s
Hospital, Inc., a not-for-profit Massachusetts corporation, with a principal place of business at 75 Francis Street, Boston, Massachusetts 02115
(“Hospital”), each referred to herein individually as a “Party” and collectively as the “Parties”. 

RECITALS 
 Under research
programs funded by Hospital and the U.S. Government, Hospital through research conducted by Dr. Ennio Antonio Chiocca (“Principal Investigator”), has developed inventions pertaining to an oncolytic Herpes simplex virus which has been
modified for treatment of glioma, including but not limited glioblastoma multiforme, in patients. 
 Hospital, as a center for patient care,
research and education, is the owner of certain Patent Rights (defined below) covering the oncolytic Herpes simplex virus and desires to grant a license of those Patent Rights to Company in order to benefit the public by disseminating the results of
its research via the commercial development, manufacture, distribution and use of Licensed Products (defined below). Company has the capability to commercially develop, manufacture, distribute and use Licensed Products for public use and benefit and
desires to license such Patent Rights. 
 Hospital and Company previously entered into an Exclusive Option Agreement for the Patent Rights
on January 20, 2018 (BWH Agreement No.: A224945) in which Company has agreed to support a clinical trial at the Hospital for treatment of glioma patients with the oncolytic Herpes simplex virus described in the Patent Rights. 

For good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

1.    CERTAIN DEFINITIONS 

As used in this Agreement, the following terms shall have the following meanings, unless the context requires otherwise. 

1.1    “Acquisition” shall have the meaning set forth in Section 4.4 (a)(iv). 

1.2    “Affiliate” with respect to either Party means any corporation or other legal entity other than that Party in
whatever country organized, controlling, controlled by or under common control with that Party. The term “control” means (i) in the case of Company, direct or indirect ownership of fifty percent (50%) or more of the voting
securities having the right to elect 

 
directors, and (ii) in the case of Hospital, the power, direct or indirect, to elect or appoint fifty percent (50%) or more of the directors or trustees, or to cause direction of management
and policies, whether through the ownership of voting securities, by contract or otherwise. 
 1.3    “BLA” or
“Biologics License Application” shall have the meaning set forth in Section 3.1(e). 

1.4    “Claim” means (i) an issued claim of any Patent Right that has not been permanently revoked, nor held
unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction that is unappealable, or unappealed in the time allowed for appeal; and (ii) a pending claim included in the Patent Rights that was
filed in good faith and has not been pending for more than [***] years after the first office action and has not been abandoned or finally disallowed without the possibility of appeal or refiling such application. Notwithstanding the foregoing, if
any pending claim of the Patent Rights is issued or granted as a patent after [***] years after the first office action, it shall be deemed to be a Claim, subject to the provisions of this paragraph, for the entire period such patent application was
pending and for the remainder of the patent term. Further, within [***] days of the patent issue date, Company shall pay Hospital any royalties or milestones due on the pending claim during the period between [***] years after the first office
action until the patent is granted and shall continue to pay all applicable royalties and milestones for the remainder of the patent term. 

1.5    “Clinical Trial Agreement” means the agreement executed between Company and Hospital to conduct a human clinical
research study of rQNestin34.5v.2 in accordance with the study protocol entitled, “A Phase I study of the treatment of recurrent malignant glioma with rQNestin34.5v.2, a genetically engineered HSV-1
virus, and immunomodulation with cyclophosphamide” effective on June 19, 2018, as amended from time to time (MGH Agreement No. 2018A001280). 

1.6    “Commercially Reasonable Efforts” solely as applied to Company, means with respect to any objective relating to
the research, development, manufacture or commercialization of a Licensed Product, the efforts and resources normally used by a company in the biopharmaceutical industry for a product which is of similar market potential at a similar stage in its
development or commercialization, which level of effort is at least commensurate with the level of effort that any party would devote to its own internally discovered and funded products that are of most closely comparable market potential at a most
closely comparable stage in their development or product life, taking into account regulatory requirements of safety and efficacy, product profile, the competitiveness of the marketplace, the proprietary position of the Licensed Product, and the
cost of scaling up a manufacturing process (including, if applicable, facility costs), and the market potential of the applicable Licensed Product. 

1.7    “Derived Product” means any product that was developed using Hospital’s Technological Information for the
treatment of Glioma, but which is not covered by any Claim of the Patent Rights. 
 1.8    “Distributor” means any
Third Party entity to whom Company, a Company Affiliate or a Sublicensee has granted, express or implied, the right to distribute any Licensed Product pursuant to Section 2.1(b)(ii), with or without packaging rights, in circumstances where such

  
 2 

 
Third Party purchases its requirements of Licensed Product(s) from Company or its Affiliates or Sublicensees but does not otherwise make any upfront, royalty or other payment (separate from a
payment for supply of Licensed Product) to Company or its Affiliates or Sublicensees with respect to any Licensed Product. 

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

1.10    “First Commercial Sale” means the initial Sale anywhere in the applicable License Territory of a Licensed Product
following approval of a BLA in such License Territory. 
 1.11    “Glioma” means glioma, including any subset of glioma
(for instance, glioblastoma multiforme). 
 1.12    Joint Steering Committee shall have the meaning set forth in
Section 3.2 
 1.13    “Hospital Team” means Dr. Ennio Antonio Chiocca and representatives of
Hospital’ s Innovation Office. 
 1.14    “IND” means an Investigational New Drug application (as defined in the
Food, Drug, and Cosmetic Act) in the United States or a comparable filing in a Major Market Country which is necessary to commence or conduct clinical testing of a pharmaceutical product in humans in such jurisdiction. 

1.15    “License Field” means gene therapy and oncolytic vector therapy for the treatment or prevention of cancerous
tumors in humans or animals using an engineered mutant of Herpes simplex virus, except such gene therapy and oncolytic vector therapy in which ICP34.5 expression is under control of the B-myb promoter. 

1.16    “License Territory” means worldwide. 

1.17    “Licensed Product” means any Product or Derived Product. 

1.18    “Market Exclusivity” shall have the meaning set forth in Section 4.5(a)(i). 

1.19    “Net Sales” shall be calculated as set forth in this Section 1.19. 

 

	 	(a)	 Subject to the conditions set forth below, “Net Sales” means: 

 

	 	(i)	 the gross amount billed or invoiced, or if no such bill or invoice is issued the amount received, whichever is
greatest, by Company and its Affiliates and Sublicensees for or on account of Sales of Licensed Products; 

  

	 	(ii)	 less the following amounts: 

 

	 	(A)	 to the extent separately stated on the bill or invoice, actually paid by Company and its Affiliates in
effecting such Sale: 

  

	 	1.	 amounts repaid or credited by reason of rejection or return of applicable Licensed Products;

  
 3 

	 	2.	 government chargebacks, reasonable and customary trade, quantity or cash rebates or discounts to the extent
allowed and taken; 

  

	 	3.	 amounts for outbound transportation, insurance, handling and shipping, but only to the extent separately
invoiced or stated in an invoice in a manner that clearly specifies the charges applicable to specific Licensed Products; and 

  

	 	4.	 taxes, customs duties and other governmental charges levied on or measured by Sales of Licensed Products, to
the extent separately invoiced or stated in an invoice, whether paid by or on behalf of Company, but not franchise or income taxes of any kind whatsoever. 

  

	 	(B)	 the gross amount billed or invoiced, or if no such bill or invoice is issued the amount received, whichever is
greatest, by Company and its Affiliates and Sublicensees for or on account of Sales of Licensed Products to Hospital and Hospital’s Affiliates. 

  

	 	(b)	 Specifically excluded from the definition of “Net Sales” are amounts attributable to Sale of any
Licensed Product between or among Company and any Company Affiliate and/or Sublicensee, unless the transferee is the end purchaser, user or consumer of such Licensed Product. 

 

	 	(c)	 No deductions shall be made for any commissions paid to any individuals or for any costs or expenses of
collections. 

  

	 	(d)	 Net Sales shall be deemed to have occurred and the applicable Licensed Product “Sold” on the earliest
of the date of billing, invoicing, delivery or payment or the due date for payment. 

  

	 	(e)	 If any Licensed Product is Sold for non-cash consideration (whether or
not at a discount), Net Sales shall be calculated based on the non-discounted amount charged to an independent Third Party for the Licensed Product during the same Reporting Period or, in the absence of such
transaction, on the fair market value of the Licensed Product, excluding, however, transfer of Licensed Products at no cost pursuant to research and development collaborations and for compassionate use programs and Hospital shall not construe such
transfers as “in kind” benefits or compensation. 

  

	 	(f)	 In the event Company or an Affiliate or Sublicensee uses an active ingredient (for clarity, an active
ingredient shall exclude any routine component, including common buffers and cell culture media) not licensed by Hospital to Company hereunder (“Other Component”) to form a product that is a combination of a

  
 4 

	 	
Product or Derived Product (“Licensed Component”) and Other Component(s) (a “Combination Product”), Net Sales for the purposes of calculating the royalty owed to Hospital on
Sales of such Licensed Component shall be calculated as described in the subsections below: 

  

	 	(i)	 If the Licensed Component and the Other Component contained in the Combination Product(s) are Sold separately
(whether as an ingredient for another product or as its own product combined with routine components that may include common buffers and cell culture media) during a given Reporting Period, then the royalty due under Section 4.5 shall be paid
on the Licensed Component Net Sales (“LCNS”) calculated as follows: 

 LCNS = Net Sales of such Combination
Product * (A/(A+B)); 
 where “A” (as used in this Section 1.20(f)(i)), is the average invoice price in such country during
the current and immediately preceding Reporting Period of any Product or Derived Product that contains the Licensed Component; and 

“B” (as used in this Section 1.20(f)(i)), is the average invoice price in such country during such Reporting Period of the
Other Components. 
  

	 	(ii)	 If the Combination Product contains Licensed Components or Other Components not sold separately, then the LCNS
for purposes of determining royalty payments shall be calculated as above, provided, however, that the Parties shall negotiate in good faith over a period of [***] days the value for A and B in the above equation. Notwithstanding the foregoing, if
Company owns all material components to the Combination Product, it shall determine the retail price of the Combination Product in good faith and may not use the Licensed Product component as a “loss leader.” If Hospital reasonable
believes that the retail price of the Combination Product is unfair because the Company is, in the opinion of Hospital, using the Product as a loss leader, then it may challenge the Company’s allocation of relative value (and thus royalties due
to Hospital) pursuant to Section 10.5. 

  

	 	(iii)	 Notwithstanding the foregoing calculation of LCNS, Company agrees that it shall not pay a royalty amount to
Hospital on any LCNS of such Combination Product that is less than [***]percent ([***]%) of the Net Sales of such unit of Combination Product that includes a Product or that is less than [***]percent ([***]%) of the Net Sales of such unit of
Combination Product that includes a Derived Product. 

 1.20    “Marketing Authorization Approval” or
“MAA” means marketing authorization approval (including approval of a BLA) that has been granted for any Product. 

1.21    “Major Market Country” means Australia, Canada, China, France, Germany, Italy, Japan, Spain, the United Kingdom,
the United States, and South Korea. 

  
 5 

 1.22    “Non-Royalty Income”
means consideration in any form received by Company and/or Company’s Affiliate(s) attributable to a grant of a sublicense or any other right, license, privilege or immunity to make, have made, use, have used, Sell or have Sold Licensed
Products, but excluding consideration included within Net Sales. Non-Royalty Income shall include, without limitation, any (i) license signing fee, license issue fee, option fee, maintenance fee, unearned
portion of any minimum royalty payment, distribution or joint marketing fee and research and development funding in excess of the cost of performing such research and development, and (ii) consideration received for an equity interest
in, extension of credit to, or other investment in Company or Company’s Affiliates to the extent such consideration exceeds the fair market value of the equity or other interest received as determined by an independent appraiser mutually
agreeable to the Parties, provided, however, that the fees or consideration described in (i) and (ii) are directly attributable to a grant of a sublicense, license, privilege or immunity. For clarity,
Non-Royalty Income shall not include consideration received by the Company’s stockholders pursuant to the disposition or transfer of all, or substantially all, of the Company’s assets, whether by
sale, merger, acquisition, operation of law or otherwise. 
 1.23    “Patent Rights” means, inclusively, the U.S.
Patent [***], U.S. Patent [***], and International Patent Application [***], and/or the equivalent of such applications including any division, continuation (but not including
continuation-in-part) and/or any foreign patent application or other rights issuing from, or filed subsequent to the date of this Agreement, based on or claiming
priority to or from the applications and rights listed on Appendix A, including continuations (but not continuations in part), divisions, reexaminations, extensions, renewals, supplementary protection certificates, registrations,
confirmations, and reissues from such applications and rights, and any patents resulting from any application or right including but not limited to Appendix A. 

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

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

1.26    “Pivotal Clinical Trial” means an adequate and well-controlled human clinical study, as outlined under 21 C.F.R
§314.126 and 21 C.F.R. §312.21 (b) or their foreign equivalents in any Major Market Country, of a Licensed Product or, the results of which are intended to form the final basis for regulatory approval at the time of the commencement of the
trial. For avoidance of doubt, a clinical trial that meets the foregoing criteria shall be deemed a Pivotal Clinical Trial regardless of whether it is characterized as a “Phase 2b”, or “Phase 2b/3”, or “Phase 3”. 

  
 6 

 1.27    “Primary Product” shall have the meaning set forth in
Section 3.1. 
 1.28    “Process” means any process, method or service the use or performance of which, in whole
or in part, absent the license granted hereunder would infringe, or is covered by, one or more Claims of the Patent Rights. 

1.29    “Product” means any article, device or composition, the manufacture, use, or sale of which, in whole or in part,
absent the license granted hereunder would infringe one or more Claims of the Patent Rights. 
 1.30    “Reporting
Period” means each three-month period ending March 31, June 30, September 30 and December 31. 

1.31    “Secondary Product” shall have the meaning set forth in Section 3.1. 

1.32    “Sell” (and “Sale” and “Sold” as the case may be) means to sell or have sold, to lease or
have leased, to import or have imported or otherwise to transfer or have transferred a Licensed Product (and the right to use such Licensed Product or Process) for valuable consideration (in the form of cash or otherwise), and further in the case of
a Process to use or perform such Process for the benefit of a Third Party. 
 1.33    “Sublicensee” means any
sublicensee of rights granted in accordance with Section 2.1(a)(iii). For purpose of this Agreement, a Distributor of a Licensed Product shall not be included in the definition of Sublicensee unless such Distributor (a) is granted
any right to make, have made, use or have (other than for to the Distributor to Sell the right to use or have used to an end user) used Licensed Products in accordance with Sections 2.1(a)(i) or 2.1(a)(ii) or (b) has agreed to pay to
Company or its Affiliate(s) royalties on such Distributor’s sales of Licensed Products, in which case such Distributor shall be a Sublicensee for all purposes of this Agreement (and not a Distributor). 

1.34    “Technological Information” means research data, designs, formulae, process information and other information
pertaining to the invention(s) claimed in the Patent Rights (i) which is created by Dr. Ennio Antonio Chiocca and owned by Hospital and is not confidential information that is obligated to any Third Party and (ii) that
is useful for Company to a material extent to utilize the licenses granted hereunder. Company agrees to treat all Technological Information in accordance with the provisions of Appendix E. 

1.35    “Term” shall have the meaning set forth in Section 10.1. 

1.36    “Third Party” means any person or entity other than Company, Hospital, and their respective Affiliates. 

  
 7 

 2.    LICENSE 

2.1    Grant of License. 
  

	 	(a)	 Subject to the terms of this Agreement, Hospital hereby grants to Company the rights referenced below, through
the full end of the Term, in the License Field and in the License Territory, to include: 

  

	 	(i)	 an exclusive, royalty-bearing license under Hospital’s rights in U.S. Patent [***], International Patent
Application [***], and all U.S. and foreign issued patents and patent applications issuing therefrom to make, have made, use, have used, Sell and have Sold Products and to practice the Processes; 

 

	 	(ii)	 a non-exclusive, royalty-bearing license under Hospital’s rights
in U.S. Patent [***] to make, have made, use, and have used, Sell and have Sold Products and to practice the Processes, but not to Sell and have Sold Processes; 

 

	 	(iii)	 the right to grant sublicenses under the rights granted in Section 2.1(a)(i) and 2.1(a)(ii) to
Sublicensees, provided that in each case Company shall be responsible for the performance of any obligations of Sublicensees relevant to this Agreement as if such performance were carried out by Company itself, including, without limitation, the
payment of any royalties or other payments provided for hereunder, regardless of whether the terms of any sublicense provide for such amounts to be paid by the Sublicensee directly to Hospital; and (iv) the nonexclusive right to use
Technological Information disclosed by Hospital to Company hereunder in accordance with this Agreement. 

  

	 	(b)	 The license granted in Section 2.1(a) above includes: 

 

	 	(i)	 the right to grant to the final purchaser, user or consumer of Licensed Products the right to use such
purchased Licensed Products in a method coming within the scope of the Patent Rights within the License Field and License Territory; and (ii) the right to grant a Distributor the right to Sell (but not to (x) make, have made,
or (y) use or have used for the purposes of research and development, but such grant shall include the right to Sell to the end user the right to use or have used) such Licensed Products for or on behalf of Company, its Affiliates and
Sublicensees in a manner consistent with this Agreement. 

  

	 	(c)	 The foregoing license grant shall include the grant of such license to any Affiliate of Company, provided that
such Affiliate shall assume the same obligations as those of Company and be subject to the same terms and conditions hereunder, and further provided that Company shall be responsible for the performance of all of such obligations and for compliance
with all of such terms and conditions by Affiliate. Company shall provide to Hospital a fully signed, non-redacted copy of each agreement with any Affiliate that assumes the aforesaid obligations, including
all exhibits, attachments and related documents and any amendments, within [***] days of request by Hospital. Such details shall be considered the Confidential Information of Company and the applicable Affiliate, and shall be treated in accordance
with the provisions of Appendix E. 

  
 8 

 2.2    Sublicenses. Each sublicense granted hereunder shall be consistent with
and comply with all the terms of this Agreement, shall incorporate terms and conditions sufficient to enable Company to comply with this Agreement, and shall prohibit any further sublicense or assignment by a Sublicensee without Hospital consent,
and, in the case where the sublicense is a license of substantially all of the rights the Company is granted by the Hospital hereunder in any territory, shall provide that Hospital is a Third Party beneficiary thereof. Any sublicense granted by
Company shall be subject to the prior written approval of Hospital, which approval shall not be unreasonably withheld. Notwithstanding the foregoing, Company may grant sublicenses under Section 2.1(a)(iii), without the prior written consent of
the Hospital, to a public or private entity having assets in excess of [***]U.S. dollars ($[***]). If a sublicense agreement involves the license of substantially all of the rights granted to the Company by Hospital hereunder in any particular
territory (a “Material Sublicense”), Company shall provide to Hospital a fully signed non-redacted copy of all such sublicense agreements and amendments thereto, including all exhibits, attachments
and related documents, within [***] days of executing the same. Material Sublicenses will be in writing, and will (i) require such Sublicensee to comply with the terms and conditions of this Agreement, including: payment of Royalties and
Non-Royalty Income pursuant to Section 4.5, the reporting obligations set forth under Sections 5.3 and 5.4 (Reports and Records), the record keeping and audit requirements set forth under
Section 5.5 (Audit Rights), the provisions regarding patent prosecution set forth under Article 6 (Patent Prosecution and Maintenance) but only to the extent prosecution rights are sublicensed, patent infringement set forth under Article
7 (Third Party Infringement and Legal Actions) and the confidentiality requirements set forth under Appendix E (Confidentiality); (ii) require such Sublicensee to indemnify, hold harmless and defend Hospital Indemnitees consistent with
Section 8.1 (Indemnification) and carry insurance under the same or more favorable terms as those set forth in Section 8.2 (Insurance); (iii) include a provision that permits Company to terminate the Sublicense if such
Sublicensee (or an Affiliate of such Sublicensee) challenges the validity of the Patent Rights directly, or indirectly through assistance granted to a Third Party, with respect to any of the Patent Rights sublicensed hereunder; and
(iv) provide for termination or assignment to Hospital of Company’s interest therein upon termination in accordance with Section 10.8 (Effect of Termination on Sublicenses). Each copy of a Material Sublicense shall be
considered the Confidential Information of Company and the applicable Sublicensee, and shall be treated in accordance with the provisions of Appendix E. Any sublicense which is not in accordance with this Agreement shall be null and void,
subject to the Company’s right to cure any default of this provision following written notice from Hospital. Failure of a Sublicensee to a Material Sublicense to agree to be bound by the applicable terms of this Agreement or failure of Company
to provide copies of a Material Sublicense agreement shall be deemed a failure to perform Company’s obligations, and Hospital may terminate this Agreement in accordance with Section 10.4. 

2.3    Retained Rights; Requirements. Any and all licenses granted hereunder are subject to: 

 

	 	(a)	 the right of Hospital and Hospital’s Affiliates and academic government and research collaborators to make
and to use the subject matter described and/or claimed in the Patent Rights for research and educational purposes; provided  

  
 9 

	 	
however, that such research and educational purposes shall not include the production or manufacture of Products for sale and to the extent such research and educational use does not
conflict with the provisions of this Agreement; and 

  

	 	(b)	 for Patent Rights supported by federal funding, the rights, conditions and limitations imposed by U.S. law
(see 35 U.S.C. § 202 et seq. and regulations pertaining thereto), including without limitation: 

  

	 	(i)	 any royalty-free, non-exclusive license granted to the U.S. government;
and 

  

	 	(ii)	 any requirement that any Product used or sold in the United States shall be manufactured substantially in the
United States. 

 2.4    No Additional Rights. It is understood that nothing in this Agreement shall be
construed to grant Company or any of its Affiliates a license, express or implied, under any patent owned solely or jointly by Hospital other than the Patent Rights expressly licensed hereunder. Hospital shall have the right to license any Patent
Rights to any other party for any purpose outside of the License Field or the License Territory. 
 2.5    Disclosure of
Technological Information., IND Transfer. Upon execution of this Agreement, Hospital shall transfer to the Company at no additional cost, all know-how and Technical Information, including but not limited
to all pre-clinical or clinical data, human safety data, preliminary efficacy data, and other regulatory data, documents and information related to any Product or Process in its possession. Additionally, the
Hospital will use its reasonable efforts to assist the Company in the transfer of the existing investigator sponsored IND relating to the Product to a Company sponsored IND. 

3.    DUE DILIGENCE OBLIGATIONS 

3.1    Diligence Requirements. Company shall use, and shall cause its Affiliates and Sublicensees, as applicable, to use,
Commercially Reasonable Efforts to develop and make available to the public Product(s) throughout the License Territory in the License Field. Such efforts shall include achieving the following diligence obligations for the development of Primary and
Secondary Product(s) within the time periods designated below (“Diligence Requirements”): 
 Primary Product: Diligence milestones for the
clinical and commercial development of Product as a monotherapy (“Primary Product”): 
  

	 	(a)	 Completion of Arm A of the Phase 1 Clinical Trial in accordance with the terms of the Clinical Trial Agreement
by January 1st, 2021; 

  

	 	(b)	 Submit a clinical research plan reasonably acceptable to Hospital for a subsequent clinical trial of Primary
Product in consultation with Hospital Team by March 1st, 2020; 

  

	 	(c)	 Commence a subsequent clinical trial of Primary Product by January 1st, 2022; 

  
 10 

	 	(d)	 Commence a Pivotal Clinical Trial of Primary Product by January
1st, 2024; 

  

	 	(e)	 File a Biological License Application, as described in 21 C.F.R. 601.2 (“BLA”) with the FDA, or an
equivalent application in a Major Market Country, for regulatory approval of a Primary Product by June 1st, 2026; and 

 

	 	(f)	 Submit an application for Marketing Authorization Approval for use of a Primary Product to the applicable
regulatory body of a second Major Market Country by June 1st, 2027. 

3.2    Product Combinations. Company will use Commercially Reasonable Efforts to develop a Secondary Product. The Company will
establish a joint steering committee to review Company’s recommendations for the development of Products, including but not limited to the development of Secondary Product(s) (“Joint Steering Committee”). The Joint Steering Committee
shall meet (in person or by teleconference call) on at least a semi-annual basis and shall be made up of two (2) representatives from Company and two (2) representatives from Hospital Team. Dr. Ennio A.
Chiocca (“Dr. Chiocca”) shall be one of the representatives from the Hospital Team. 
 3.3    Diligence
Failures. The Parties understand that Company may fail to timely achieve the Diligence Requirements itemized in Sections 3.1 above due to clinical or regulatory reasons, including but not limited to: (i) unexpected data and results from
toxicology studies, clinical trials, or manufacturing processes; (ii) unanticipated written directives, orders, or guidance from any governing body such as the FDA, other governmental agency, or any IRB, including a clinical hold; or
(iii) resignation of Dr. Chiocca as principal investigator of the Phase 1 Clinical Trial for the Primary Product. Company may request revision of any Diligence Requirement in Section 3.1 upon written notice at
least [***] days in advance of such milestone deadline. Such written notice shall be supported by evidence of technical difficulties or delays in clinical studies or regulatory processes that are outside of Company’s reasonable control and
shall include a reasonably detailed plan, written in consultation with the Joint Steering Committee, for extending or amending any specific Diligence Requirement(s) hereunder (“Plan”). The Diligence Requirements shall be subsequently
modified to reflect any modified Plan, subject in each case to the reasonable approval of the Hospital, such approval not unreasonably withheld, conditioned, or delayed. However, if following any approval of an amended Plan by Hospital (and
subsequently the amended Diligence Requirements), Company has failed to fulfill any of its obligations under Section 3.1 or comply with the provisions of Section 3.2 relating to such amended Diligence Requirements, then
Hospital may treat such failure as a default and may terminate this Agreement and/or any license granted hereunder in accordance with Section 10.4, subject to applicable cure periods. Failure for Company to achieve the specific Diligence
Requirement under Section 3.1(f) shall not result in termination of this Agreement, but such failure shall restrict Company’s License Territory to the specific Major Market Country for which it has filed for a Biological License
Application pursuant to the Diligence Requirement under Section 3.1 (e). Further, the Company may dispute any termination of the Agreement pursuant to Section 10.5. 

  
 11 

 3.4    Diligence Reports. Company shall provide all reports with respect to its
obligations under Section 3.1 as set forth in Section 5. All such reports shall be deemed “Confidential Information” and subject to the terms of the agreement attached as Appendix E. 

4.    PAYMENTS AND ROYALTIES 

4.1    License Issue Fee. Company shall pay Hospital a non-refundable license issue fee in
the amount of [***]U.S. dollars ($[***]) upon execution of this Agreement. 
 4.2    Patent Cost Reimbursement. Company shall
reimburse Hospital for all costs associated with the preparation, filing, prosecution and maintenance of all Patent Rights (“Patent Costs”). As of the Effective Date, Hospital has incurred approximately [***]U.S. dollars ($[***]) in Patent
Costs, which amount Company shall pay to Hospital upon execution of this Agreement. Company shall pay to Hospital, or at Hospital’s request directly to patent counsel, all other Patent Costs within [***] days of Company’s receipt of an
invoice for such Patent Costs either from Hospital or Hospital’s patent counsel. Company agrees to indemnify, defend and hold Hospital harmless from and against any and all liabilities, damages, costs and expenses arising from the failure of
Company to timely pay such invoices and Patent Costs. Hospital shall instruct patent counsel to provide copies to Hospital for Hospital’s administrative files of all invoices detailing Patent Costs which are sent directly to Company. If Company
pays any Patent Costs directly, Company shall advise patent counsel that Hospital is and shall remain patent counsel’s client. 

4.3    Annual License Fee; Annual Minimum Royalty. 
  

	 	(a)	 Before First Commercial Sale. Prior to the First Commercial Sale, Company shall pay to Hospital
[***]U.S. dollars ($[***]) as an annual license fee within [***] days beginning on the [***] anniversary of the Effective Date and for each year thereafter; 

  

	 	(b)	 After First Commercial Sale. Following the First Commercial Sale, Company shall pay Hospital a non-refundable annual minimum royalty in the amount of [***]U.S. dollars ($[***]) per year within [***] days after each annual anniversary of the Effective Date. The Annual Minimum Royalty shall not be creditable
against earned royalties for the first [***] years following First Commercial Sale, but shall be credited against royalties made on the following calendar year and for each year thereafter. 

4.4    Milestone Payments. In addition to the payments set forth in Sections 4.1 through 4.3 above, Company shall pay Hospital the
milestone payments set forth in this Section 4.4 within [***] days after the end of each Reporting Period in which such milestone occurs. Each of the following milestones shall be paid only once with respect to any Product to achieve such
milestone, whether such milestone is achieved by Company, its Affiliates, or Sublicensees. 
  

	 	(a)	 Clinical Milestones for Primary Product. Upon occurrence by Company or any of its Affiliates or
Sublicensees of the following clinical milestones with respect to any Primary Product: 

  

	 	(i)	 A one-time payment of [***]U.S. Dollars ($[***]) upon dosing of the
first patient with Product in a Phase 2 Clinical Trial for Glioma patients; 

  
 12 

	 	(ii)	 A one-time payment of [***]U.S. Dollars ($[***]) upon dosing of the
first patient with Product in a Pivotal Clinical Trial for Glioma patients; 

  

	 	(iii)	 A one-time payment of [***]U.S. Dollars ($[***]) upon approval of a BLA
for a Product by the FDA, or an equivalent application for a Product by the applicable regulatory body in any Major Market Country; and 

  

	 	(iv)	 Notwithstanding the foregoing, milestones 4.4(a)(i), 4.4(a)(ii), and 4.4(a)(iii) shall not become due and
payable to Hospital unless and until: (a) such clinical milestone has been achieved; and (b) Company has transferred or sold all or substantially all of its assets or business or has been merged or consolidated with another entity
in which the stockholders of the Company prior to such transaction are not the majority stockholders after the closing of such transaction (collectively an “Acquisition”). If there is no Acquisition, the milestones set forth in 4.4(a)(i),
4.4(a)(ii), and 4.4(a)(iii) shall accrue when achieved and become payable by Company upon the occurrence of the milestone in 4.4(b)(i) below (First Commercial Sale of a Primary Product in the United States). 

 

	 	(b)	 Commercial Milestones for Primary Product. Upon occurrence by Company or any of its Affiliates or
Sublicensees, as applicable, of the following commercial milestones with respect to any Primary Product: 

  

	 	(i)	 Subject to 4.4(b)(iv) below, a one-time payment of [***]U.S. Dollars
($[***]) upon the First Commercial Sale of any Primary Product in the United States; 

  

	 	(ii)	 A one-time payment of [***]U.S. Dollars ($[***]) upon the First
Commercial Sale of any Primary Product in Europe; 

  

	 	(iii)	 A one-time payment of [***]U.S. Dollars ($[***]) upon the First
Commercial Sale of any Primary Product in Japan; and 

  

	 	(iv)	 If some or all Clinical Milestones 4.4(a)(i), 4.4(a)(ii), and 4.4(a)(iii) have been accrued but not yet been
remitted to Hospital pursuant to 4.4(a)(iv), such Clinical Milestones shall be remitted upon achievement of the commercial milestone in Section 4.4(b)(i) in addition to the payment due upon the First Commercial Sale of a Primary Product under
such provision. 

  
 13 

	 	(c)	 Sales Milestones. The sales milestones are one-time payments
accruing across all indications in which any Licensed Product is used to treat patients as a monotherapy or in combination with another therapy. Upon occurrence by Company or any of its Affiliates or Sublicensees with respect to any Licensed
Product: 

  

	 	(i)	 A one-time payment of [***]U.S. Dollars ($[***]) upon the first-year
that annual Net Sales exceed $[***] U.S. dollars; and 

  

	 	(ii)	 A one-time payment of [***] U.S. Dollars ($[***]) upon the first-year
that annual Net Sales exceed $[***] U.S. dollars. 

  

	 	(d)	 Secondary Product Milestones. Additional product milestone payments shall be made for the clinical and
commercial development of any Product in combination with another therapy modality for the treatment of solid tumors (“Secondary Product”). By way of example only, the use of any Product in combination with chimeric antigen receptor T cell
therapy or a checkpoint inhibitor as a combination therapy shall be a Secondary Product. Company shall remit to Hospital payments upon occurrence of the following milestones for any Secondary Product, as described below: 

Clinical Milestones: 
  

	 	(i)	 A one-time payment of [***] U.S. Dollars ($[***]) upon the dosing of
the first patient with Secondary Product in a Phase 2 Clinical Trial of Glioma patients; and 

  

	 	(ii)	 A one-time payment of [***] U.S. Dollars ($[***]) upon the dosing of
the first patient with Secondary Product in a Pivotal Clinical Trial of Glioma patients; 

  

	 	(iii)	 A one-time payment of [***]U.S. Dollars ($[***]) upon approval of a BLA
for a Secondary Product by the FDA, or its equivalent application in any Major Market Country; and 

  

	 	(iv)	 Notwithstanding the foregoing, milestones 4.4(d)(i), 4.4(d)(ii), and 4.4(d)(iii) shall not become due and
payable to Hospital unless and until (i) such clinical milestone has been achieved and (ii) an Acquisition has taken place in which the stockholders of the Company prior to such Acquisition are not the majority Stockholders after
the closing of such Acquisition. If there is no Acquisition, the milestone set forth in 4.4(d)(i), 4.4(d)(ii), and 4.4(d)(iii) shall accrue when achieved and become payable by Company upon the occurrence of 4.4(d)(v) below (First Commercial Sale of
any Secondary Product in the United States). 

 Commercial Milestones: 

 

	 	(v)	 Subject to 4.4(d)(viii) below, a one-time payment of [***]U.S. Dollars
($[***]) upon the First Commercial Sale of any Secondary Product in the United States; 

  

	 	(vi)	 A one-time payment of [***]U.S. Dollars ($[***]) upon the First
Commercial Sale of any Secondary Product in Europe; 

  
 14 

	 	(vii)	 A one-time payment of [***]U.S. Dollars ($[***]) upon the First
Commercial Sale of any Secondary Product in Japan; and 

  

	 	(viii)	 If some or all of the clinical milestones for development of a Secondary Product in 4.4(d)(i), 4.4(d)(ii), and
4.4(d)(iii) have been accrued but not yet been remitted to Hospital pursuant to 4.4(d)(iv), such clinical milestones for Secondary Product shall be remitted upon achievement of First Commercial Sale of any Secondary Product in the United States in
4.4(d)(v) in addition to any payment due under such provision. 

 To avoid over-payment of any specific milestone listed in
Section 4.4, if a Sublicensee pays Company for achieving any of these same milestones listed in Section 4.4 and Company pays Hospital the entire amount of such milestone, then Company shall not be obligated to pay Hospital additional Non-Royalty Income on the amount already paid for such milestone, but shall be obligated to pay Hospital the Non-Royalty Income for any amount received in excess of the
amounts listed hereunder as well as Non-Royalty Income not associated with any of the milestones listed in Section 4.4. 

4.5    Royalties and Non-Royalty Income. 

 

	 	(a)	 Beginning with the First Commercial Sale by Company, its Affiliates, or Sublicensees in the applicable country
in the License Field in the License Territory, Company shall pay Hospital a royalty as provided below: 

 [***]% For the
portion of Net Sales of Product(s) in a given calendar year that is less than $[***] U.S. dollars; 
 [***]% For the portion of Net
Sales of Product(s) in a given calendar year that is greater than or equal to $[***] U.S. dollars but less than $[***] U.S. dollars; 

[***]% For the portion of Net Sales of Product(s) in a given calendar year that is greater than or equal to $[***] U.S. dollars; and

 [***]% For annual Net Sales of Derived Products. 
  

	 	(i)	 Subject to (ii) below, with respect to each Product or Derived Product (as applicable) and on a country-by-country basis, Company’s obligation to pay royalties would commence on the date of First Commercial Sale of such Product or Derived Product in each country and
would expire on the later of: (a) date on which there ceases to be a Claim of the Patent Rights in such country; (b) the expiration of all applicable periods of orphan designated drug, Hatch-Waxman or any other
statutory or regulatory exclusivity covering such Product and/or Derived Product(s) in such country (“Market Exclusivity”); or (c) [***] years after the First Commercial Sale of such Product and/or Derived Product. 

  
 15 

	 	(ii)	 In the event that a Product or is no longer covered by a Claim in a given country, Company shall be entitled to
reduce the royalty rate due to Hospital, as provided under Section 4.5(a), on Net Sales of such Product in such country, by [***]percent ([***]%) until the expiration of all applicable Market Exclusivity covering such Product in such country,
and at such time the Product shall become a Derived Product. 

  

	 	(iii)	 If, in order to develop, manufacture or sell Product(s), Company is required to pay a royalty to a Third Party
on a Product to avoid infringement of a Third Party’s patents, then Company shall be entitled to reduce the royalty payment due to Hospital only on such Product by [***]percent ([***]%) of the royalty payable to the Third Party(ies);
provided however, that under no circumstance shall the royalties due to Hospital on any Product be reduced by more than half of the amount that would otherwise have been payable to Hospital on the applicable royalty-bearing Net Sales. Any
royalties due to Hospital on Derived Product(s) shall not be similarly reduced. 

  

	 	(b)	 Notwithstanding the royalty deductions permitted under Section 1.20(f), 4.5(a)(ii), and 4.5(a)(iii) above,
under no event shall the royalty rate due to Hospital be lower than [***]percent ([***]%) for the Sale of any Product and [***]percent ([***]%) for the Sale of any Derived Product. 

 

	 	(c)	 Company shall pay Hospital a percentage of any and all Non-Royalty
Income attributable to the Sublicense of Licensed Product(s), as follows: 

 [***]% If such Sublicense occurs prior to the
dosing of first patient in a Phase 2 Clinical Trial of Licensed Product; 
 [***]% If such Sublicense occurs after dosing of first
patient in a Phase 2 Clinical Trial of Licensed Product but before approval of the BLA by the FDA, or approval of an equivalent application in another Major Market Country; and 

[***]% If such Sublicense occurs after approval of the BLA by the FDA, or approval of an equivalent application in another Major Market
Country. 
  

	 	(d)	 All payments due to Hospital under this Section 4.5 shall be due and payable by Company within [***] days
after the end of each Reporting Period and shall be accompanied by a report as set forth in Sections 5.3 and 5.4. 

4.6    Form of Payment. All payments due under this Agreement shall be drawn on a United States bank and shall be payable in United
States dollars. Each payment shall reference this Agreement and its Agreement Number and identify the obligation under this Agreement that the payment satisfies. Conversion of foreign currency to U.S. dollars shall be made at the conversion rate
existing in the United States, as reported in The Wall Street Journal, on the [***] day of the applicable Reporting Period. Such payments shall be without deduction of exchange, collection or other charges, and, specifically, without deduction of
withholding or similar taxes or other government-imposed fees or taxes, except as permitted in the definition of Net Sales. 

  
 16 

 Checks for all payments due to the Hospital under this Agreement shall be made payable to “The Brigham
and Women’s Hospital, Inc.” and addressed as set forth below: 
 Brigham and Women’s Hospital 

BOA-Lockbox Services 

PCSR Lockbox #415007 
 MA5-527-02-07 
 2
Morrissey Blvd 
 Dorchester, MA 02125 

Reference Agreement #: A225152 
 Payments
via wire transfer should be made as follows: 
 [***]  

Brigham and Women’s Hospital 

[***] 
 Reference Agreement #:
[***] 
 4.7    Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the
[***] day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to [***]percent ([***]%) above the prime rate in effect on the due date as reported by The Wall Street Journal, such
interest rate being compounded on the [***] day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance
thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment. 

5.    REPORTS AND RECORDS 

5.1    Diligence Reports. Within [***] days after the end of each calendar year, Company shall report in writing to Hospital on
progress made toward the Diligence Requirements set forth in Section 3.1 during such preceding [***]month period (“Reporting Period”), including progress on research and development, status of clinical trials, applications for
regulatory approvals, manufacturing, sublicensing, and the number of sublicenses entered into and any marketing conducted on Licensed Products. 

5.2    Milestone Achievement Notification. Company shall report to Hospital the dates on which it achieves the milestones set forth
in Section 4.4 within [***] days of each such occurrence. 
 5.3    Sales Reports. Company shall report to Hospital the date
of the First Commercial Sale in each country of the License Territory within [***] days of each such occurrence. Following the First Commercial Sale, Company shall deliver reports to Hospital within [***] days after the end

  
 17 

 
of each Reporting Period. Each report under this Section 5.3 shall have substantially the format outlined in Appendix C, shall be certified as correct by an officer of Company and
shall contain at least the following information as may be pertinent to a royalty accounting hereunder for the immediately preceding Reporting Period: 
  

	 	(a)	 the number of Licensed Products Sold by Company, its Affiliates and Sublicensees in each country;

  

	 	(b)	 the amounts billed, invoiced and received by Company, its Affiliates and Sublicensees for each Licensed
Product, in each country, and total billings or payments due or made for all Licensed Products; 

  

	 	(c)	 calculation of Net Sales for the applicable Reporting Period in each country, including an itemized listing of
permitted offsets and deductions; 

  

	 	(d)	 total royalties payable on Net Sales in U.S. dollars, together with the exchange rates used for conversion; and

  

	 	(e)	 any other payments due to Hospital under this Agreement. 

If no amounts are due to Hospital for any Reporting Period, the report shall so state. 

5.4    Non-Royalty Income Reports. Company shall, along with delivering payment as set
forth in Section 4.6, report to Hospital within [***] days of receipt the amount of all Non-Royalty Income received by Company, and Company’s calculation of the amount due and paid to Hospital from
such income, including an itemized listing of the source of income comprising such consideration, and the name and address of each entity making such payments in substantially the format outlined in Appendix D. 

5.5    Audit Rights. Company shall maintain, and shall cause each of its Affiliates and Sublicensees to maintain, complete and
accurate records relating to the rights and obligations under this Agreement and any amounts payable to Hospital in relation to this Agreement, which records shall contain sufficient information to permit Hospital and its representatives to confirm
the accuracy of any payments and reports delivered to Hospital and compliance in all other respects with this Agreement. Company shall retain and make available, and shall cause each of its Affiliates and Sublicensees to retain and make available,
such records for at least [***] years following the end of the calendar year to which they pertain, to Hospital and/or its representatives and upon at least [***] days’ advance written notice, for inspection during normal business hours no more
than one time per calendar year, to verify any reports and payments made and/or compliance in other respects under this Agreement. If any examination conducted by Hospital or its representatives (such examination to occur no more than one time per
year with reasonable notice to Company) pursuant to the provisions of this Section show an underreporting or underpayment of [***]percent ([***]%) or more in any payment due to Hospital hereunder, Company shall bear the full cost of such audit and
shall remit any amounts due to Hospital (including interest due in accordance with Section 4.7) within [***] days of receiving notice thereof from Hospital. This Section 5.5 shall survive for a period of [***] years following the
termination of this Agreement. 

  
 18 

 5.6    Confidential Reports and Records. All information shared between the
Parties pursuant to this Article 5 shall be “Confidential Information” under the Agreement between the Parties hereto and as set forth in Appendix E. The Hospital understands that it is the intention of the Company to become
publicly traded and that any information disclosed to Hospital under this Agreement, including the reports delivered hereunder, may be deemed “material non-public information” under the state and
federal securities laws. 
 6.    PATENT PROSECUTION AND MAINTENANCE 

6.1    Prosecution. Hospital shall be responsible for the preparation, filing, prosecution and maintenance of all patent
applications and patents included in Patent Rights, including, but not limited to, the filing of patent applications, extensions, continuations, continuations-in-part,
divisionals, re-examinations, or re-issue applications. Company shall be given the opportunity to review and provide input thereto. Company shall reimburse Hospital for
the Patent Costs incurred by Hospital relating thereto in accordance with Section 4.2. 
 6.2    Cooperation.
With respect to any Patent Right licensed hereunder, Hospital shall instruct patent counsel prosecuting such Patent Right to (i) copy Company on patent prosecution documents that are received from or filed with the United States Patent and
Trademark Office (“USPTO”) and foreign equivalent, as applicable; (ii) provide Company with copies of draft submissions to the USPTO and foreign equivalent, as applicable, prior to filing; and (iii) give
consideration to the comments and requests of Company or its patent counsel prior to submission. Both Parties agree to provide reasonable cooperation to each other to facilitate the application and prosecution of the Patent Rights pursuant to this
Agreement. 
 6.3    The Company shall promptly notify Hospital of the issuance of any Marketing Authorization Approval in each country
and, where reasonably possible, useful, or valuable in the commercialization of Products, use Commercially Reasonable Efforts to assist Hospital with applying for any term extension, adjustment, restoration, or supplementary protection certificate
pertaining to the Patent Rights, or other form of market exclusivity conferred by applicable laws and regulations (collectively, “Patent Term Extensions”) in the relevant country of the License Territory. Hospital shall, to the extent
reasonably possible, useful, or valuable in the commercialization of Products, use reasonable efforts to, if and as requested by Company, obtain all available Patent Term Extensions, at Company’s expense. The Parties shall cooperate with each
other in obtaining Patent Term Extensions wherever and whenever applicable, reasonably possible to obtain, and reasonably useful or valuable in the commercialization of Products. 

6.4    Company’s Election Not to Proceed. Company may elect to surrender any patent or patent application included in the
Patent Rights in any country upon [***] days advance written notice to Hospital. Such notice shall relieve Company from the obligation to pay for future Patent Costs but shall not relieve Company from responsibility to pay Patent Costs incurred
prior to the expiration of the [***] day notice period. Such U.S. or foreign patent application or patent shall thereupon cease to be a Patent Right hereunder with respect only to those countries in which such patents or patent applications were
surrendered by the Company, Company shall have no further rights therein and Hospital shall be free to license its rights to that particular U.S. or foreign patent application or patent to any Third Party on any terms. 

  
 19 

 6.5    Confidentiality of Prosecution and Maintenance Information. The Parties
hereto agree to treat all information related to prosecution and maintenance of Patent Rights as Confidential Information in accordance with the provisions of Appendix E. 

7.    THIRD PARTY INFRINGEMENT AND LEGAL ACTIONS 

7.1    Hospital Right to Prosecute. Company and Hospital shall promptly provide written notice to the other Party of any alleged
infringement or any challenge or threatened challenge to the validity, enforceability, or priority of any Patent Rights, and provide each other with any available evidence of such infringement, challenge or threatened challenge of the Patent Rights
by a Third Party. Hospital will protect its Patent Rights from infringement and prosecute infringers when, in its sole judgment, such action may be reasonably necessary, proper and justified. If Company shall have supplied Hospital with written
evidence demonstrating to Hospital’s reasonable satisfaction prima facie infringement of a claim of a Patent Right in the License Field and the License Territory by a Third Party which poses a material threat to Company’s rights under this
Agreement, Company may by notice request Hospital to take steps to protect such Patent Right. Hospital shall notify Company within [***] days after receipt of such notice whether Hospital intends to prosecute the alleged infringement. If Hospital
notifies Company that it intends to so prosecute, Hospital shall, within [***] days of its notice to Company, either: (i) cause such infringement to terminate, or (ii) initiate legal proceedings against the infringer. 

7.2    Company Right to Prosecute. In the event Hospital notifies Company that Hospital does not intend to prosecute infringement
identified under Section 7.1 or otherwise fails to initiate legal proceedings against the infringer as set forth in Section 7.1 above, Company may, upon notice to Hospital, initiate legal proceedings against the infringer at
Company’s expense with respect to a claim of a Patent Right in the License Field and the License Territory. Before commencing such action, Company and, as applicable, any Affiliate, shall consult with Hospital, concerning, among other things,
Company’s standing to bring suit, the advisability of bringing suit, the selection of counsel and the jurisdiction for such action and shall use reasonable efforts to accommodate the views of Hospital regarding the proposed action, including
without limitation, with respect to potential effects on the public interest. Company shall be responsible for all costs, expenses and liabilities in connection with any such action and shall indemnify and hold Hospital harmless therefrom,
regardless of whether Hospital is a party-plaintiff, except for the expense of any independent counsel retained by Hospital in accordance with Section 7.5 below. 

7.3    Hospital Joined as Party-Plaintiff. If Company elects to commence an action as described in Section 7.2 above, Hospital
shall have, in its sole discretion, the option to join such action as a party-plaintiff. If Hospital is required by law to join such action as a party-plaintiff, Hospital may either, in its sole discretion, permit itself to be joined as a
party-plaintiff at the sole expense of Company, or assign to Company all of Hospital’s right, title and interest in and to the Patent Right which is the subject of such action (subject to all of Hospital’s obligations to the government
under law and any other rights that others may have in such Patent Right). If Hospital makes such an assignment, such action by Company shall thereafter be brought or continued without Hospital as a party; provided however, that Hospital
shall continue to have all rights of prosecution and maintenance with respect to Patent Rights and Company shall continue to meet all of its obligations under this Agreement as if the assigned Patent Rights were still licensed to Company hereunder.

  
 20 

 7.4    Notice of Actions; Settlement. A Party shall not enter into any
settlement, consent judgment or other voluntary final disposition of any action relating to the Patent Rights, including but not limited to appeals, without the prior written consent of the other Party (the “Cooperating Party”). The
Cooperating Party shall provide the Controlling Party notice of its approval or denial of such approval within [***] business days of any request for such approval by the Controlling Party, provided that (i) in the event Cooperating Party wishes to
deny such approval, such notice shall include a written description of Cooperating Party’s reasonable objections to the proposed settlement, consent judgment, or other voluntary disposition. 

7.5    Cooperation. Each Party shall promptly inform the other if it becomes aware of any action or suit relating to the Patent
Rights. Each Party agrees to cooperate reasonably in any action under Section 7 which is controlled by the other Party, provided the Controlling Party reimburses the Cooperating Party for any costs and expenses incurred by the Cooperating Party in
connection with providing such assistance, except for the expense of any independent counsel retained by the Cooperating Party in accordance with this Section 7.5. The Controlling Party shall keep the Cooperating Party informed of the progress of
such proceedings and shall make its counsel available to the Cooperating Party. The cooperating party shall also be entitled to independent counsel in such proceedings but at its own expense, said expense to be offset against any damages received by
the Party bringing suit in accordance with Section 7.6. 
 7.6    Recovery. Any award paid by Third Parties as the result of such
proceedings (whether by way of settlement or otherwise) shall first be applied to reimbursement of any legal fees and expenses incurred by either Party and then the remainder shall be divided between the Parties as follows: 

 

	 	(a)	 (i)    Company shall receive an amount equal to its lost profits on the infringing sales,
or whichever measure of damages the court shall have applied; and 

  

	 	(ii)	 Hospital shall receive an amount equal to the royalties and other amounts that Company would have paid to
Hospital if Company had Sold the infringing Products rather than the infringer; and 

  

	 	(b)	 the balance, if any, remaining after Company and Hospital have been compensated under
Section 7.6(a) shall be shared equally by the Parties. 

 7.7    All communications and documents relating
to this Article 7 shall be deemed “Confidential Information” pursuant to the agreement entered into between the Parties hereto and attached as Appendix E. 

8.    INDEMNIFICATION AND INSURANCE 

8.1    Indemnification. 
  

	 	(a)	 Company shall indemnify, defend and hold harmless Hospital and its Affiliates and their respective trustees,
directors, officers, medical and professional staff, 

  
 21 

	 	
employees, and agents and their respective successors, heirs and assigns (the “Indemnitees”), against any liability, damage, loss or expense (including reasonable attorney’s fees
and expenses of litigation) (a “Loss”) incurred by or imposed upon the Indemnitees or any one of them in connection with any third party claims, suits, actions, demands or judgments arising from: (i) any theory of product
liability (including, but not limited to, actions in the form of contract, tort, warranty, or strict liability) concerning any product, process or service made, used, or sold or performed pursuant to any right or license granted under this
Agreement, or (ii) any claim by a third party that any Company product, process, or service made, used, or sold or performed pursuant to any right or license granted under this Agreement infringes any patent, copyright or trade secret,
or (iii) Company breach of its obligations under Section 2.2 or 8.2 of this Agreement; except to the extent that Company can demonstrate that a Loss as described in clause (i), (ii) or (iii) hereof directly
results from the gross negligence or intentional misconduct of Hospital and/or the Indemnitees. 

  

	 	(b)	 Company agrees, at its own expense, to provide attorneys reasonably acceptable to the Hospital to defend
against any actions brought or filed against any party indemnified hereunder with respect to the subject of indemnity contained herein, whether or not such actions are rightfully brought; provided however, that any Indemnitee shall have the
right to retain its own counsel, at the expense of Company, if representation of such Indemnitee by counsel retained by Company would be inappropriate because of conflict of interests of such Indemnitee and any other party represented by such
counsel. Company agrees to keep Hospital informed of the progress in the defense and disposition of such claim and to consult with Hospital prior to any proposed settlement. 

 

	 	(c)	 This section 8.1 shall survive expiration or termination of this Agreement. 

8.2    Insurance. 
  

	 	(a)	 Beginning at such time as any such product, process or service is being commercially distributed, sold, leased
or otherwise transferred, or performed or used (other than for the purpose of obtaining regulatory approvals), by Company, an Affiliate or Sublicensee, Company shall, at its sole cost and expense, procure and maintain commercial general liability
insurance in amounts not less than $[***] per incident and $[***] annual aggregate and naming the Indemnitees as additional insureds. Such commercial general liability insurance shall provide (i) product liability coverage and
(ii) broad form contractual liability coverage for Company’s indemnification under Section 8.1 of this Agreement. If Company elects to self-insure all or part of the limits described above (including deductibles or
retentions which are in excess of $[***] annual aggregate) such self-insurance program must be acceptable to the Hospital. The minimum amounts of insurance coverage required under this Section 8.2 shall not be construed to create a limit
of Company’s liability with respect to its indemnification under Section 8.1 of this Agreement. 

  
 22 

	 	(b)	 Company shall provide Hospital with written evidence of such insurance and the additional-insured status of the
Indemnitees upon request of Hospital. If possible, Company shall provide Hospital with written notice at least [***] days prior to the cancellation, non-renewal or material change in such insurance. Failure of
the Company to maintain the foregoing insurance shall be a material breach of this Agreement and the Hospital shall have the right to terminate this Agreement upon written notice pursuant to Article 10.3. 

 

	 	(c)	 Company shall maintain such commercial general liability insurance beyond the expiration or termination of this
Agreement during (i) the period that any such product, process, or service is being commercially distributed, sold, leased or otherwise transferred, or performed or used (other than for the purpose of obtaining regulatory approvals), by Company
or by a licensee, Affiliate or agent of Company and (ii) a reasonable period after the period referred to in (c) (i) above which in no event shall be less than [***] years. 

 

	 	(d)	 This section 8.2 shall survive expiration or termination of this Agreement. All communications between the
Parties and documents relating to this Article 8 shall be deemed “Confidential Information” pursuant to the agreement entered into between the parties hereto and attached as Appendix E. 

9.    DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITY 

9.1    Title to Patent Rights. To the best knowledge of Hospital’s Innovation office, (a) Hospital is the owner in the
following issued patents and patent applications: U.S. Patent [***] by assignment from [***]; U.S. Patent [***] by assignment from [***]; and International Patent Application [***] by assignment from [***]; (b) Hospital has not received any written
claim or written notice that the Patent Rights are invalid or unenforceable, excluding written notices from patent offices received in the course of prosecuting the Patent Rights; (c) Hospital has not received any written notice of any
current claims, liens or encumbrances with respect to the rights and licenses to the Patent Rights; (d) Hospital has the authority to enter into this Agreement and license the Patent Rights in the License Field (as defined in Appendix
B); and (e) Hospital is not a party to any agreement that would preclude Hospital from granting the rights set forth in this Agreement. 

9.2    No Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT HOSPITAL MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND,
EXPRESS OR IMPLIED, CONCERNING THE PATENT RIGHTS AND THE RIGHTS GRANTED HEREUNDER, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, VALIDITY OF PATENT RIGHTS CLAIMS, WHETHER ISSUED OR
PENDING, AND THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE, AND HEREBY DISCLAIMS THE SAME. SPECIFICALLY, AND NOT TO LIMIT THE FOREGOING, HOSPITAL MAKES NO WARRANTY OR REPRESENTATION (i) REGARDING THE VALIDITY OR SCOPE OF
ANY OF THE CLAIM(S), WHETHER ISSUED OR PENDING, OF ANY OF THE PATENT RIGHTS, AND (ii) THAT THE EXPLOITATION OF THE PATENT RIGHTS OR ANY LICENSED PRODUCT WILL NOT INFRINGE ANY PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF HOSPITAL OR
OF ANY THIRD PARTY. 

  
 23 

 9.3    Limitation of Liability. IN NO EVENT SHALL EITHER PARTY TO THIS AGREEMENT
OR ANY OF THEIR AFFILIATES OR ANY OF THEIR RESPECTIVE TRUSTEES, DIRECTORS, OFFICERS, MEDICAL OR PROFESSIONAL STAFF, EMPLOYEES AND AGENTS BE LIABLE TO THE OTHER OR ANY OF ITS AFFILIATES, OR ANY OF THEIR RESPECTIVE TRUSTEES, DIRECTORS, OFFICERS,
MEDICAL OR PROFESSIONAL STAFF, EMPLOYEES AND AGENTS FOR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY KIND ARISING IN ANY WAY OUT OF THIS AGREEMENT OR THE LICENSE OR RIGHTS GRANTED HEREUNDER, HOWEVER CAUSED AND ON ANY THEORY OF
LIABILITY, INCLUDING WITHOUT LIMITATION ECONOMIC DAMAGES OR INJURY TO PROPERTY OR LOST PROFITS, REGARDLESS OF WHETHER A PARTY SHALL BE ADVISED, SHALL HAVE OTHER REASON TO KNOW, OR IN FACT SHALL KNOW OF THE POSSIBILITY OF THE FOREGOING. 

10.    TERM AND TERMINATION 

10.1    Term. The term of this Agreement shall commence on the Effective Date and shall remain in effect until the later of: 

 

	 	(a)	 the [***] anniversary of First Commercial Sale in the last country in which there has been a First Commercial
Sale; 

  

	 	(b)	 the date on which all issued patents and filed patent applications within the Patent Rights have expired or
been abandoned; and 

  

	 	(c)	 upon the expiration of any and all Market Exclusivity of any Licensed Product; unless this Agreement is
terminated earlier in accordance with any of the other provisions of Section 10 (the “Term”). 

10.2    Termination for Failure to Pay. Subject to Section 10.5, if Company fails to make any payment due hereunder, Hospital
shall have the right to terminate this Agreement upon [***] days written notice, unless Company makes such payments plus any interest due, as set forth in Section 4.7, within said [***] day notice period. If payments are not made,
Hospital may immediately terminate this Agreement at the end of said [***] day period. 
 10.3    Termination for Insurance and
Insolvency. 
  

	 	(a)	 Insurance. Hospital shall have the right to terminate this Agreement in accordance with Section 8.2(b)
if Company fails to maintain the insurance required by Section 8.2 upon [***] days written notice, subject to Company’s right to cure during such notice period. 

 

	 	(b)	 If the Company shall become bankrupt, or shall file a petition in bankruptcy, make an assignment of rights to
Licensed Products for the benefit of creditors, or if the business of the Company shall be placed in the hands of a receiver, assignee 

  
 24 

	 	
or trustee for the benefit of creditors, whether by the voluntary act of the Company or otherwise, Company shall provide notice thereof to Hospital and Hospital may terminate this Agreement upon
written notice to Company. 

 10.4    Termination for Non-Financial
Default. If Company or any of its Affiliates shall default in the performance of any of its other obligations under this Agreement not otherwise covered by the provisions of Section 10.2 and 10.3, and if such default has not been cured
within [***] days after notice by Hospital in writing of such default, Hospital may immediately terminate this Agreement, and/or any license granted hereunder with respect to the country or countries in which such default has occurred, at the end of
said [***] day cure period. 
 10.5    Dispute Resolution. 

 

	 	(a)	 Any dispute or issue relating to or in connection with this Agreement (a “Dispute”) shall initially
be referred to Hospital’s Chief Innovation Officer (“Innovation”) and Company’s CEO to resolve the Dispute. Notwithstanding any of the terms of this Section 10.5 and without limiting any other remedies that may be available,
each Party shall have the right to seek immediate injunctive relief and other equitable relief from any court of competent jurisdiction to enjoin any breach or violation of this Agreement concerning confidential information or any other intellectual
property licensed under this Agreement, without any obligation to undertake extra-judicial dispute resolution of any such Dispute or claim or otherwise to comply with this Section 10.5. 

 

	 	(b)	 If Hospital’s Chief Innovation Officer and Company’s CEO are unable to resolve the Dispute within
[***] days after such referral, then such Dispute shall be referred to a mediator who has been mutually selected by the Parties. If the Parties are unable to agree upon a mediator, then either Party may petition a court of competent jurisdiction in
the Commonwealth of Massachusetts and such court shall appoint an independent mediator with relevant experience and sufficient qualifications to provide mediation services to the Parties. 

 

	 	(c)	 If the Parties are unable to resolve the Dispute with the assistance of a mediator within [***] business days
of the selection or appointment thereof, the Dispute shall be referred to arbitration. The Dispute shall be finally settled by binding arbitration in accordance with this Agreement and the substantive laws of the Commonwealth of Massachusetts,
following the Commercial Arbitration Rules of the American Arbitration Association (“AAA”). The venue for any arbitration hereunder shall be Boston, Massachusetts, United States, and each Party waives the defense of forum non conveniens
and any other defense to personal jurisdiction on grounds of inconvenient forum or otherwise. The award of the arbitration shall be final and binding upon the Parties, and may be entered and enforced in any court of competent jurisdiction. Without
limiting the foregoing, each Party consents to the jurisdiction of the state and federal courts in the Commonwealth of Massachusetts for purposes of any suit to compel mediation or arbitration and any suit to confirm and enforce an arbitration
award. 

  
 25 

	 	(d)	 If a Party believes that it will be irreparably harmed during the arbitration process, such Party may seek
injunctive relief in any Massachusetts court having competent jurisdiction over the Parties and the subject matter to enjoin any breach or violation pending an adjudication on the merits in arbitration. 

 

	 	(e)	 Each Party shall bear its own costs in obtaining the dispute resolution, as outlined above. If a dispute
regarding termination is addressed pursuant to this Article 10.5, including but not limited to by arbitration or mediation, this Agreement shall remain in full force and effect until such dispute is resolved. All applicable statutes of limitation
and time-based defenses (such as estoppel and laches) shall be tolled while any good faith negotiation, arbitration or mediation procedures are pending or ongoing. 

10.6    Challenging Validity. During the Term, Company shall not challenge, and shall restrict its Affiliates and Sublicensees from
challenging, the validity of the Patent Rights and, in the event of any breach of this provision, Hospital shall have the right to terminate this Agreement and any license granted hereunder immediately. In addition, if the Patent Rights are upheld
Company shall reimburse Hospital for its legal costs and expenses incurred in defending any such challenge. 
 10.7    Termination by
Company. Company shall have the right to terminate this Agreement, on a territory by territory basis, by giving [***] days advance written notice to Hospital and, subject to Section 10.10, upon such termination shall immediately cease all
use and Sales of Licensed Products and all uses of Processes in such territory. 
 10.8    Effect of Termination on Sublicenses.
Any sublicenses granted by Company under this Agreement shall provide for termination or assignment to Hospital of such sublicense in the applicable territory, at the option of Hospital, upon termination of this Agreement (or termination of a
territory, as applicable). 
 10.9    Effects of Termination of Agreement. Upon termination of this Agreement or any of the
licenses hereunder for any reason, final reports in accordance with Section 5 shall be submitted to Hospital and all royalties and other payments, including without limitation any unreimbursed Patent Costs, accrued or due to Hospital as of the
termination date shall become immediately payable in each applicable territory. If this Agreement is terminated pursuant to Sections 10.2, 10.3, 10.4, 10.6, or 10.7 Company shall cease, and shall cause its Affiliates and Sublicensees to cease under
any sublicense granted by Company in such territory, all Sales and uses of Licensed Products and uses of Processes upon such termination in such territory, subject to Section 10.10. The termination or expiration of this Agreement or any
license granted hereunder shall not relieve Company, its Affiliates or Sublicensees of obligations arising before such termination or expiration. If this Agreement expires at the full end of the Term as it is defined in 10.1 above, Company will then
have a perpetual, paid up, royalty-free non-exclusive license under all rights granted under this Agreement to make, have made, use, have used, lease, import and export, offer to sell, sell have sold, produce,
manufacture, distribute and market Licensed Products in the License Field and in the License Territory. 

  
 26 

 10.10    Inventory. Upon early termination of this Agreement in a particular
territory other than for Company default, Company, Company Affiliates and Sublicensees may complete and sell any work-in-progress and inventory of Licensed Products that
exist as of the effective date of termination provided that (i) Company pays Hospital the applicable running royalty or other amounts due on such Net Sales in accordance with the terms and conditions of this Agreement, and (ii) upon
the full termination of this Agreement, Company, Company Affiliates, and Sublicensees shall complete and sell all work-in-progress and inventory of Licensed Products
within [***] months after the effective date of termination. Upon expiration of this Agreement, Company shall pay to Hospital the royalties set forth in Section 4.5(a) for Sales of any Licensed Product that was in inventory or was a work-in-progress on the date of expiration of the Agreement. 

11.    COMPLIANCE WITH LAW 

11.1    Compliance. Company shall have the sole obligation for compliance with, and shall ensure that any Affiliates and
Sublicensees comply with, all government statutes and regulations that relate to Licensed Products and Processes, including, but not limited to, those of the Food and Drug Administration and the Export Administration, as amended, and any applicable
laws and regulations of any other country in the License Territory. Company agrees that it shall be solely responsible for obtaining any necessary licenses to export, re-export, or import Licensed Products and
Processes covered by Patent Rights, Technological Information, and/or Confidential Information. Company shall indemnify and hold harmless Hospital for any breach of Company’s obligations under this Section 11.1. 

11.2    Patent Numbers. Company shall cause all Products sold in the United States to be marked with all applicable U.S. Patent
Numbers, to the full extent required by United States law. Company shall similarly cause all Products shipped to or sold in any other country to be marked in such a manner as to conform with the patent laws and practices of such country. 

12.    MISCELLANEOUS 

12.1    Entire Agreement. This Agreement constitutes the entire understanding between the Parties with respect to the subject
matter hereof and this Agreement shall supersede and replace, in its entirety, the Exclusive Option Agreement (effective on January 20, 2018; BWH Agreement No.: A224945) previously entered into by the Parties hereto. 

12.2    Notices. Any notices, reports, waivers, correspondences or other communications required under or pertaining to this
Agreement shall be in writing and shall be delivered by hand, or sent by a reputable overnight mail service (e.g., Federal Express), or by first class mail (certified or registered), or by electronic mail confirmed by one of the foregoing methods,
to the other Party. Notices will be deemed effective (a) three (3) working days after deposit, postage prepaid, if mailed, (b) the next day if sent by overnight mail, or (c) the same day if sent by electronic mail and
confirmed as set forth above or delivered by hand. Unless changed in writing in accordance with this Section, the notice address for the Parties shall be as follows: 

If to Hospital: 

Partners Healthcare Innovation 

  
 27 

 Brigham and Women’s Hospital 

215 First Street, Suite 500 

Cambridge, MA 02142 
 Attn: Daniel
Castro, Managing Director 
 Email: [***] 

Agreement No. [***] 

If to Company: 

Advantagene Inc. 
 440
Lexington Avenue 
 Auburndale, MA 02466 

Attn: Chief Executive Officer, Legal Department 

Email:[***] 

12.3    Amendment; Waiver. This Agreement may be amended and any of its terms or conditions may be waived only by a written
instrument executed by an authorized signatory of the Parties or, in the case of a waiver, by the Party waiving compliance. The failure of either Party at any time or times to require performance of any provision hereof shall in no manner affect its
rights at a later time to enforce the same. No waiver by either Party of any condition or term shall be deemed as a further or continuing waiver of such condition or term or of any other condition or term. 

12.4    Binding Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the Parties hereto
and their respective permitted successors and assigns. 
 12.5    Assignment. Company shall not assign this Agreement or any of
its rights or obligations under this Agreement without the prior written consent of Hospital. Notwithstanding the foregoing, no such consent will be required to assign this Agreement (i) if Company has fulfilled its diligence obligations as set
forth in Section 3.1 and (ii) such assignment is in connection with the disposition or transfer of all, or substantially all, of its assets relating to this Agreement whether by sale, merger, operation of law or otherwise is
to (a) to a publicly traded company or an entity having assets in excess of [***]U.S. dollars ($[***]) or (b) to an Affiliate of Company with assets in excess of [***]U.S. dollars ($[***]), provided, however, there shall be
no such asset qualification if the Affiliate is a wholly owned subsidiary of the Company. In either of the foregoing each such Affiliate, successor, or purchaser shall agree in writing to be bound by the terms of this Agreement at the time of such
assignment. Company shall notify Hospital in writing of any such assignment and provide a copy of the assignment documents to Hospital within [***] days of such assignment. Further, if Company is acquired or merged with a Third Party prior to
completion of the Phase 1 Clinical Trial in Glioma patients, Company’s successor or purchaser shall notify Hospital in writing of their intention to: (i) continue with the Phase 1 Clinical Trial; and (ii) pursue a
successive clinical trial of Licensed Product within [***] days of such assignment. If Company’s successor or purchaser notifies Hospital within such [***]day period that it does not intend to continue with the Phase 1 Clinical Trial and/or
pursue a successive clinical trial of Licensed Product, then such notice may serve as grounds for termination of this Agreement pursuant to Section 10.4. Failure of an assignee to agree to be bound by the terms hereof shall be grounds
for termination of this Agreement pursuant to Section 10.4. Finally, neither any rights granted under this Agreement nor any sublicense may be assigned by any Sublicensee (except pursuant to a sale of substantially all of their assets)
without the prior written consent of Hospital, such consent not to be unreasonably withheld. 

  
 28 

 12.6    Force Majeure. Neither Party shall be responsible for delays resulting
from causes beyond the reasonable control of such Party, including without limitation, fire, explosion, flood, war, sabotage, strike or riot, provided that the nonperforming Party uses Commercially Reasonable Efforts to avoid or remove such causes
of nonperformance and continues performance under this Agreement with reasonable dispatch whenever such causes are removed. 

12.7    Use of Name. Neither Party shall use the name of the other Party or of any trustee, director, officer, staff member,
employee, student or agent of the other Party or any adaptation thereof in any advertising, promotional or sales literature, publicity without the prior written approval of the Party or individual whose name is to be used, except as required by law
or regulation. For Hospital, such approval shall be obtained from Hospital’s Public Affairs Office. Notwithstanding the foregoing, Company may disclose the existence of this Agreement with bona fide and potential or existing investors, provided
that it shall do so under written terms of confidentiality at least as protective of Hospital as those set forth in Appendix E, and provided further that Company shall be responsible for strict compliance by such investors with the terms of this
Agreement and any breach thereof. 
 12.8    Governing Law. This Agreement shall be governed by and construed and interpreted in
accordance with the laws of the Commonwealth of Massachusetts, excluding with respect to conflict of laws, except that questions affecting the construction and effect of any patent shall be determined by the law of the country in which the patent
shall have been granted. Each Party agrees to submit to the exclusive jurisdiction of the Superior Court for Suffolk County, Massachusetts, and the United States District Court for the District of Massachusetts with respect to any claim, suit or
action in law or equity arising in any way out of this Agreement or the subject matter hereof. 
 12.9    Hospital Policies.
Company acknowledges that Hospital’s employees and medical and professional staff members and the employees and staff members of Hospital’s Affiliates are subject to the applicable policies of Hospital and such Affiliates, including,
without limitation, policies regarding conflicts of interest, intellectual property and other matters. Company shall provide Hospital with any agreement it proposes to enter into with any employee or staff member of Hospital or any of
Hospital’s Affiliates for Hospital’s prior review and shall not enter into any oral or written agreement with such employee or staff member which conflicts with any such policy. Hospital shall provide Company, at Company’s request,
with copies of any such policies applicable to any such employee or staff member. 
 12.10    Severability. If any provision(s)
of this Agreement are or become invalid, are ruled illegal by any court of competent jurisdiction or are deemed unenforceable under then current applicable law from time to time in effect during the term hereof, it is the intention of the parties
that the remainder of this Agreement shall not be affected thereby. It is further the intention of the Parties that in lieu of each such provision which is invalid, illegal or unenforceable, there be substituted or added as part of this Agreement a
provision which shall be as similar as possible in economic and business objectives as intended by the Parties to such invalid, illegal or enforceable provision, but shall be valid, legal and enforceable. 

  
 29 

 12.11    Survival. In addition to any specific survival references in this
Agreement, Sections 1, 2.4, 4.6, 4.7, 5.3, 5.4, 5.5, 5.6, 6.5, 8.1, 8.2, 9.2, 9.3, 10.9, 10.10, 12.1, 12.2, 12.3, 12.7, 12.8, 12.10, 12.11, 12.12 and 12.13 shall survive termination or expiration of this Agreement. Any other rights,
responsibilities, obligations, covenants and warranties which by their nature should survive this Agreement shall similarly survive and remain in effect. 

12.12    Interpretation. The parties hereto are sophisticated, have had the opportunity to consult legal counsel with respect to
this transaction and hereby waive any presumptions of any statutory or common law rule relating to the interpretation of contracts against the drafter. 

12.13    Headings. All headings are for convenience only and shall not affect the meaning of any provision of this Agreement. 

12.14    Counterparts; Facsimile; Electronic Mail. The Agreement may be executed in counterparts and delivered by facsimile or
electronic mail with the same effect as an original. 
 [Remainder of page intentionally left blank.] 

  
 30 

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

									
	ADVANTAGENE, INC.	 		 	                    THE BRIGHAM &
WOMEN’S HOSPITAL

									
					
	BY:	 	  
	 		 	BY:	 	  

					
	NAME:	 	 Estuardo Aguilar-Cordova, MD (inf) PhD
	 		 	NAME:	 	 Daniel Castro

					
	TITLE:	 	 Chief Executive Officer
	 		 	TITLE:	 	 Managing Director

					
	DATE:	 	  
	 		 	DATE:	 	  

  
 31 

 Appendix A 

PATENT RIGHTS 
  

									
	 Patent No. /
Application
No.
	  	 Patent /
Publication No.
	  	 Filing Date
	  	 Status
	  	 Title

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***][***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***][***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***][***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***][***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

	[***]	  	[***]	  	 [***]
	  	[***]	  	 [***]

  
 32 

 Appendix A 

PATENT RIGHTS 
  

							
	 Patent No. /
Application
No.
	  	 Filing Date
	  	 Status
	  	 Title

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

  
 33 

 Appendix A 

PATENT RIGHTS 

(Continued) 
  

							
	 Patent No. /
Application
No.
	  	 Filing Date
	  	 Status
	  	 Title

	[***]	  	[***]	  	[***]	  	 [***]

	[***]	  	[***]	  	[***]	  	 [***]

  
 34 

 Appendix B 

DESCRIPTION OF TECHNOLOGICAL INFORMATION 
  

	a.	 copies of all regulatory submissions (i.e., IND application); 

 

	b.	 any communications with applicable regulatory authorities, including the FDA, EMEA, or any IRB and the minutes
of any meetings with such authorities relating to rQNestin34.5v2; 

  

	c.	 DMFs and any trial, drug, device, or other master files relating to any rQNestin34.5v2, including copies of all
case report forms; 

  

	d.	 copies of all listings and tables of results from the clinical trials relating to any rQNestin34.5v2;

  

	e.	 copies of all treatment-related serious adverse event reports from the clinical trials relating to
rQNestin34.5v2; 

  

	f.	 storage of and access permission to any retained samples of materials used in clinical trials relating to
rQNestin34.5v2; 

  

	g.	 access to contract and clinical research organizations involved in the preclinical studies and clinical trials
relating to rQNestin34.5v2; 

  

	h.	 the data, files and results of any chemistry, manufacturing, or control-related activities regarding
rQNestin34.5v2; and 

  

	i.	 Information for the manufacturing of Licensed Products or conducting preclinical studies and clinical trials
and other development activities with respect to rQNestin34.5v2 

  
 35 

 Appendix C 

SALES REPORTS 
  

							
	AGREEMENT INCOME REPORT	  	Royalty Income

					
	 BWH Agreement # - 
	 	 [***]
	 	 

							
	
Licensee -                 
 
	 	 Advantagene, Inc.
	 	 

							
	
Sub-Licensee -          
   
	 	 

 Separate reports must be filed for: 

	 	1.	 Each Licensed Product sold. 

 

	 	2.	 Each country of sale, if different deductions or royalty rates apply. 

Licensed Product Name: 
  

 
 Report Time Period: 

 

							
	             
	 	 From    
	  	 mm/dd/yyyy 
	  	 
		 	 To
	  	 mm/dd/yyyy
	  	 

  

							
	 

  

											
	   Country of Sale
	 	 	 		 		 		 	
				 		 
	   Quantity Sold
	 	 	 		 	 	 		 	 
						
	   Gross Sales (USD)
	 	$	 		 	$	 		 	$
		 		 		 
	   Exchange Rate
	 	 	 		 	 	 		 	 

 Deductions (Itemize) 

Please list each deduction separately. Use same definition as appears in Agreement and include the contract paragraph as a reference
(Std Section 1.17(a)(ii) line item deductions listed below). 
  

											
	A1.	 		 		 		 		 	
		 	  
	 		 	  
	 		 	  

	A2.	 		 		 		 		 	
		 	  
	 		 	  
	 		 	  

	A3.	 		 		 		 		 	
		 	  
	 		 	  
	 		 	  

	A4.	 		 		 		 		 	
		 	  
	 		 	  
	 		 	  

	B.	 		 		 		 		 	
		 	  
	 		 	  
	 		 	  

						
	   Total Deductions
	 	(                                     
                     )	 		 	(                                     
                     )	 		 	(                                     
                     )
		 	  
	 		 	  
	 		 	  

						
	   Net Sales
	 		 		 		 		 	
		 	  
	 		 	  
	 		 	  

						
	   Royalty Percentage
	 		 		 		 		 	
		 	  
	 		 	  
	 		 	  

						
	   Credits (itemize)
	 	(                                     
                     )	 		 	(                                     
                     )	 		 	(                                     
                     )
		 	  
	 		 	  
	 		 	  

						
	   Royalties Due
	 	$	 		 	$	 		 	$
		 	  
	 		 	  
	 		 	  

  

	
	 

  
 36 

 Appendix D 

NON-ROYALTY INCOME 
  

							
	AGREEMENT INCOME REPORT	  	Royalty Income

					
	 BWH Agreement # - 
	 	 [***]
	 	 

							
	
Licensee -                 
 
	 	 Advantagene, Inc.
	 	 

							
	
Sub-Licensee -          
   
	 	 

 Separate reports must be filed for Payments associated with each Licensed Product: 

Licensed Product Name: 
  

 
 Report Time Period: 

 

							
	             
	 	 From    
	  	 mm/dd/yyyy 
	  	 
		 	 To
	  	 mm/dd/yyyy
	  	 

  

	
	 

 Detailed Explanation of Payment 

Required for “Other Payment” 
  

					
	Annual Fees/Minimum Royalties	  	$	 	
	  	  
	 	  

	  		 	
			
	Milestone Payments	  	$	 	
		  	  
	 	  

			
	Sublicense Fees and Royalties	  	$	 	
	  	  
	 	  

	  		 	
			
	Other Payment	  	$	 	
		  	  
	 	  

			
	Other Payment	  	$	 	
		  	  
	 	  

			
	Other Payment	  	$	 	
		  	  
	 	  

			
	TOTAL	  	$	 	
		  	  
	 	

  

	
	 

 PLEASE ATTACH DETAIL AS REQUIRED 

  
 37 

 Appendix E 

CONFIDENTIALITY TERMS AND CONDITIONS 

1.    Definition of Confidential Information. “Confidential Information” means any information, including but not limited
to data, techniques, protocols or results, or business, financial, commercial or technical information, disclosed by one Party (each a “Discloser” as applicable) to the other Party (each a “Recipient” as applicable) in connection
with the terms of that certain Exclusive License Agreement dated September 15, 2020 (the “Agreement”) and identified as confidential at the time of disclosure (the “Purpose”). Hospital’s Confidential Information shall
also include all information disclosed by Hospital to Company in connection with the Patent Rights. Capitalized terms used in this Appendix that are not otherwise defined herein have the meanings ascribed in the Agreement to which this Appendix is
attached and made a part thereof. 
 2.    Exclusions. “Confidential Information” under this Agreement shall not
include any information that (i) is or becomes publicly available through no wrongful act of Recipient; (ii) was known by Recipient prior to disclosure by Discloser, as evidenced by tangible records; (iii) becomes known to Recipient
after disclosure from a Third Party having an apparent bona fide right to disclose it; (iv) is independently developed or discovered by Recipient without use of Discloser’s Confidential Information, as evidenced by tangible records; or
(v) is disclosed to another party by Discloser without restriction on further disclosure. The obligations of confidentiality and non-use set forth in this Agreement shall not apply with respect to any
information that Recipient is required to disclose or produce pursuant to applicable law, court order or other valid legal process provided that Recipient promptly notifies Discloser prior to such required disclosure, discloses such information only
to the extent so required and cooperates reasonably with Discloser’s efforts to contest or limit the scope of such disclosure. 

3.    Permitted Purpose. Recipient shall have the right to, and agrees that it will, use Discloser’s Confidential Information
solely for the Purpose as described in the Agreement, except as may be otherwise specified in a separate definitive written agreement negotiated and executed between the Parties. 

4.    Restrictions. For the term of the Agreement and a period of [***] years thereafter (and indefinitely with respect to any
individually identifiable health information disclosed by Hospital to Company, if any), each Recipient agrees that: (i) it will not use such Confidential Information for any purpose other than as specified herein, including without limitation
for its own benefit or the benefit of any other person or entity; and (ii) it will use reasonable efforts (but no less than the efforts used to protect its own confidential and/or proprietary information of a similar nature) not to disclose
such Confidential Information to any other person or entity except as expressly permitted hereunder. Recipient may, however, disclose Discloser’s Confidential Information only on a
need-to-know basis to its and its Affiliates employees, staff members and agents (“Receiving Individuals”) who are directly participating in the Purpose and
who are informed of the confidential nature of such information, provided Recipient shall be responsible for compliance by Receiving Individuals with the terms of this Agreement and any breach thereof. Each Party further agrees not to use the name
of the other Party or any of its Affiliates or any of their respective trustees, directors, officers, staff members, employees, students or agents in any 

  
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advertising, promotional or sales literature, publicity or in any document employed to obtain funds or financing without the prior written approval of the Party or individual whose name is to be
used, in the case of Hospital such approval to be given by the Public Affairs Department. This Section 4 shall survive termination or expiration of the Agreement. 

5.    Right to Disclose. Discloser represents that to the best of its knowledge it has the right to disclose to each Recipient all
of Discloser’s Confidential Information that will be disclosed hereunder. 
 6.    Ownership. Subject to the terms of the
Agreement, all Confidential Information disclosed pursuant to this Agreement, including without limitation all written and tangible forms thereof, shall be and remain the property of the Discloser. Upon termination of this Agreement, if requested by
Discloser, Recipient shall return or destroy at Discloser’s discretion all of Discloser’s Confidential Information, provided that Recipient shall be entitled to keep one copy of such Confidential Information in a secure location solely for
the purpose of determining Recipient’s legal obligations hereunder. 
 7.    No License. Nothing in this Appendix E shall be
construed as granting or conferring, expressly or impliedly, any rights by license or otherwise, under any patent, copyright, or other intellectual property rights owned or controlled by Discloser relating to Confidential Information, except as
specifically set forth in the Agreement. 
 8.    Remedies. Each Party acknowledges that any breach of this Agreement by it may
cause irreparable harm to the other Party and that each Party is entitled to seek injunctive relief and any other remedy available at law or in equity. 

9.    General. These confidentiality terms and conditions, along with the Agreement, contain the entire understanding of the
Parties with respect to the subject matter hereof, and supersede any prior oral or written understandings between the parties relating to confidential treatment of information. Sections 1, 2, 4, 6, 8 and 9 of these confidentiality terms and
conditions shall survive any expiration or termination of the Agreement. 

  
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