Document:

Exhibit 10.15

 

***TEXT OMITTED AND FILED SEPARATELY

WITH THE SECURITIES AND EXCHANGE COMMISSION.

CONFIDENTIAL TREATMENT REQUESTED

UNDER 17 C.F.R. SECTIONS 200.80(B)(4)

AND RULE 406 OF THE SECURITIES ACT OF 1933,

AS AMENDED

 

January 16, 2017

 

Akcea Therapeutics, Inc.
 55 Cambridge Parkway, Suite 100
 Cambridge, MA 02142

Attention: Paula Soteropoulos, President and CEO

 

Re:                             Development, Commercialization and License Agreement

 

Dear Ms. Soteropoulos:

 

Reference is made to the Development, Commercialization and License Agreement dated December 18, 2015 (the “Akcea-Ionis Agreement”), by and between Ionis Pharmaceuticals, Inc. (“Ionis”), and Akcea Therapeutics, Inc. (“Akcea”).  On January 5, 2017, Akcea entered into that certain Strategic Collaboration, Option and License Agreement (the “Novartis Agreement”) by and between Akcea and Novartis Pharma AG (“Novartis”), pursuant to which Akcea and Novartis formed a strategic collaboration in cardio-metabolic lipid diseases.  This letter agreement serves to confirm certain additional agreements between Ionis and Akcea and, to the extent the terms of the Akcea-Ionis Agreement conflict with the terms of the Novartis Agreement, this letter agreement addresses how such conflicts are resolved. Capitalized terms used but not otherwise defined herein will have the meanings ascribed to such terms in the Novartis Agreement.

 

Ionis and Akcea hereby agree as follows:

 

1.                                      Consent.  Pursuant to Section 4.2 of the Akcea-Ionis Agreement, subject to the terms of this letter agreement, Ionis hereby consents to Akcea entering into the Novartis Agreement.

 

2.                                      Good Faith Collaboration.  Ionis and Akcea will work together in good faith and take all commercially reasonable steps to effectuate the Novartis Agreement.

 

3.                                      Regulatory Matters.  Ionis and Akcea will agree on the manner in which Akcea enforces its rights relating to regulatory matters under the Novartis Agreement.  If Ionis and Akcea cannot come to such an agreement, then the Ionis or Akcea proposal for such matter that most closely aligns with the proposal put forth by Novartis will be used.  If Akcea has the right under the Novartis Agreement to attend any meeting with a Regulatory Authority, Akcea will allow, or use commercially reasonable efforts to obtain the right for, a representative from Ionis to also attend such meeting.

 

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4.                                      Class Generic Claims.  Ionis and Akcea will agree on the manner in which Akcea enforces its rights relating to class generic claims under the Novartis Agreement.  If Ionis and Akcea cannot come to such an agreement, then the proposal set forth by Ionis will be used.

 

5.                                      The Strategic Plan; Key Committees.  Ionis and Akcea will agree on the manner in which Akcea enforces its rights relating to the Pre-Option Development Plan, the manufacturing transition plan contemplated by Section 1.3.2 of the Novartis Agreement and the Strategic Plan under the Novartis Agreement (collectively, the “Novartis Plans”).  To the extent there is a conflict between the Strategic Plan (as defined in the Akcea-Ionis Agreement), and the Novartis Plans, the Novartis Plans will govern.  If requested by Ionis, Akcea agrees to appoint Ionis as one of its three representatives to the CSC and/or as one of its representatives to the JDCC.

 

6.                                      Ionis License Grant to Akcea.  To enable Akcea to grant Novartis the licenses set forth in Section 5.1 of the Novartis Agreement, effective upon Novartis’ exercise of an Option with respect to a Product in accordance with the Novartis Agreement, Ionis hereby grants Akcea a worldwide, exclusive, royalty-bearing, sublicensable license under the Licensed Technology to Research, Develop, Manufacture, have Manufactured and Commercialize such Product.

 

7.                                      Akcea License Grant to Ionis.  Akcea hereby grants Ionis a fully-paid, royalty-free, perpetual, irrevocable, worldwide, non-exclusive, sublicensable license to any Patents Rights or Know-How (as defined in the Akcea-Ionis Agreement) controlled by Akcea and arising from the Novartis Agreement (collectively, the “Akcea License Grant”).

 

8.                                      Upfront Option Fee.  Notwithstanding anything to the contrary in the Akcea-Ionis Agreement, in lieu of 50% of the Upfront Option Fee, Akcea will pay to Ionis US$15,000,000 of the Upfront Option Fee.  For the avoidance of doubt, (a) Ionis will not be required to share with Akcea any of the proceeds from Novartis’ investment(s) in Ionis stock, and (b) Akcea will not be required to share with Ionis any of the proceeds from Novartis’ investment, if any, in Akcea stock, pursuant to that certain Stock Purchase Agreement dated January 5, 2017 by and among Novartis, Ionis and Akcea.

 

9.                                      [***] and [***].  Notwithstanding anything to the contrary in the Akcea-Ionis Agreement, Akcea will not be required to pay to Ionis any portion of the US$[***] Akcea receives from Novartis for the [***] and [***] as set forth in Section 2.3.1 of the Novartis Agreement; provided, however, that Akcea will be responsible for all payments to vendors relating to the [***] and [***] and Akcea will pay such vendors directly.

 

***Confidential Treatment Requested

 

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10.                               Milestone Payments.  If Novartis exercises an Option with respect to a Product, so long as Akcea pays to Ionis 50% of the milestone payments set forth in Tables 1-4 of the Novartis Agreement with respect to such Product in accordance with Section 6.3 of the Akcea-Ionis Agreement, Akcea will not owe to Ionis the milestone payments set forth in Section 6.1.1 of the Akcea-Ionis Agreement with respect to such Product.

 

11.                               Third Party Payments.  If Akcea or Ionis owes to a Third Party a milestone payment, royalty payment, license maintenance fee, or other payment resulting from the Development or Commercialization of a Product by Novartis, its Affiliates, or Sublicensees (“Third Party Payments”), Akcea will (a) in the case of a Third Party Payment owed by Akcea to such Third Party, pay such Third Party Payment directly to the Third Party, or (b) in the case of a Third Party Payment owed by Ionis to such Third Party, pay such Third Party Payment to Ionis and Ionis will pay the Third Party directly.  The parties will first deduct such Third Party Payments paid by Akcea to Ionis or a Third Party from Sublicense Revenue (as defined in the Akcea-Ionis Agreement) and thereafter will evenly split the remaining Sublicense Revenue.

 

12.                               Public Disclosures.  Ionis and Akcea will agree on the manner in which Akcea enforces its rights relating to public disclosures under the Novartis Agreement.  If Ionis and Akcea cannot come to an agreement, then Ionis and Akcea may each take the course of action such party’s legal counsel deems necessary in order to comply with applicable law.

 

13.                               Enforcement of Sublicense Agreement.  So long as Akcea enforces its rights under the Novartis Agreement in accordance with Paragraph 15 of this letter agreement, Ionis will not assert its enforcement rights under Section 4.3 of the Akcea-Ionis Agreement with respect to the Novartis Agreement.

 

14.                               Termination of the Novartis Agreement.  If the Novartis Agreement is terminated for any reason, then without further action by Ionis or Akcea, each of Ionis’ and Akcea’s rights and obligations with respect to the Products and the Licensed Technology will automatically revert back to the rights and obligations each Party had under the Akcea-Ionis Agreement immediately prior to the date of this letter agreement; provided, however, that the Akcea License Grant will remain in effect.  Ionis and Akcea will agree on the Transition Services to be requested and/or any services to be provided by Novartis.

 

15.                               Termination of the Akcea-Ionis Agreement.  If the Akcea-Ionis Agreement is terminated for any reason, for each Product being developed or commercialized by Novartis, its Affiliates, or Sublicensee under the Novartis Agreement at the time of such termination, Novartis will become a direct licensee of Ionis such that Ionis will grant a license to Novartis with respect to the Licensed Technology for such Product on the same terms and conditions as set forth in the Novartis Agreement.

 

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16.                               Ionis Obligations to Akcea.  Ionis will use commercially reasonable efforts to:

 

(a)               Manufacture the API (i) for Akcea’s activities under Section 1.3.1(a) of the Novartis Agreement, and (ii) ordered by Novartis under Section 1.3.1(b) or Section 1.3.3 of the Novartis Agreement;

 

(b)               Allow Novartis to conduct an audit of Ionis’ manufacturing facility where API is made and visit Novartis’ or its designated CMO’s manufacturing facility in accordance with Sections 1.3.1(b) and 1.3.2 of the Novartis Agreement;

 

(c)                Conduct applicable technology transfer activities in accordance with Section 1.3.2 of the Novartis Agreement;

 

(d)               Cooperate to conduct the activities and achieve the purposes relating to the Ionis Internal ASO Safety Database contemplated under Section 6.8 of the Novartis Agreement;

 

(e)                Abide by the exclusivity covenants set forth in Section 4.1.1 and the restrictive covenants set forth in Section 4.3 of the Novartis Agreement; and

 

(f)                 Abide by the applicable confidentiality and non-use terms set forth in Article 12 of the Novartis Agreement;

 

provided, however, in the case of clauses (a)-(d) above, Akcea will pay Ionis for such activities in accordance with that certain Services Agreement dated December 18, 2015 by and between Ionis and Akcea.

 

17.                               Akcea Covenants.

 

(a)                                 Akcea will use commercially reasonable efforts to promptly (i) exercise the rights granted to Akcea under the Novartis Agreement, (ii) discharge the obligations of Akcea under the Novartis Agreement and (iii) cause Novartis to fulfill its obligations under the Novartis Agreement;

 

(b)                                 Akcea will not, without Ionis’ prior written consent, amend or waive any term or provision of the Novartis Agreement;

 

(c)                                  Akcea will, promptly following the delivery of any report or analysis required to be delivered by it, or received by Akcea from Novartis, under the Novartis Agreement, deliver a complete and correct copy of each such document to Ionis.

 

18.                               Amendment.  Except as otherwise expressly amended by this letter agreement, the Akcea-Ionis Agreement remains unchanged and in full force and effect in accordance with its terms.

 

[Remainder of Page Intentionally Left Blank]

 

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By signing where indicated below, as of the date of this letter agreement, Ionis and Akcea indicate their acceptance and agreement to the foregoing.

 

	
 
    	
Very   truly yours,
    
	
 
    	
 
    	
 
    
	
 
    	
IONIS   PHARMACEUTICALS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   B. Lynne Parshall
    
	
 
    	
 
    	
Name:   B. Lynne Parshall
    
	
 
    	
 
    	
Title:   Chief Operating Officer
    
	
 
    	
 
    	
 
    
				

Accepted and Agreed:

 

AKCEA THERAPEUTICS, INC.

 

	
By:
    	
/s/   Paula Soteropoulos
    	
 
    
	
Name:
    	
Paula   Soteropoulos
    	
 
    
	
Title:
    	
President & CEOExhibit 10.16

 

SECOND AMENDMENT OF LEASE

 

This SECOND AMENDMENT OF LEASE (this “Amendment”) is made as of the 16th day of March, 2017 (the “Effective Date”) between 55 CAMBRDIGE PARKWAY, LLC, a Delaware limited liability company, having an address c/o Invesco Real Estate, 1166 Avenue of the Americas, New York, New York 10036, as landlord (“Landlord”), and AKCEA THERAPEUTICS, INC., a Delaware corporation, having an address at 55 Cambridge Parkway, Cambridge, Massachusetts 02142, as tenant (“Tenant”).

 

BACKGROUND

 

Landlord and Tenant are holders of the landlord’s and tenant’s interests, respectively, under that certain Office Lease Agreement dated as of March 25, 2015, as amended by that certain Amendment of Lease dated as of February 1, 2016 (collectively, the “Lease”), for approximately 6,114 rentable square feet of space on the first (1st) floor of the West Wing of the building (the “Building”) located at 55 Cambridge Parkway, Cambridge, Massachusetts 02142 (the “Existing Premises”).

 

The parties desire to (a) add approximately 3,100 rentable square feet of space on the first (1st) floor of the East Wing of the Building to the Existing Premises on the terms and provisions of this Amendment; and (b) amend the Lease in certain other respects, all as hereinafter set forth.  Capitalized terms not defined herein shall have the same meaning ascribed to them in the Lease.

 

W I T N E S S E T H:

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.             Inclusion of East Wing Premises.  Effective as of the later of (a) March 16, 2017 or (b) the day after the date on which Avalon (as such term is defined herein) vacates the East Wing Premises (as defined below) (such later date shall be referred to herein as the “East Wing Premises Commencement Date”), there shall be added to the Premises under the Lease the space on the first (1st) floor of the East Wing of the Building shown as the “East Wing Premises” on Schedule 1 attached hereto, which space consists of approximately 3,100 rentable square feet of space (the “East Wing Premises”).  The “East Wing Premises Rent Commencement Date” shall mean the date that is thirty (30) days after the East Wing Premises Commencement Date.

 

2.             Lease Term for East Wing Premises.  With respect to the East Wing Premises only, the Term of the Lease shall mean the period commencing on the East Wing Premises Commencement Date and ending on the date that is the day before the third (3rd) anniversary of the East Wing Premises Rent Commencement Date, except that if the East Wing Premises Rent Commencement Date shall be a date other than the first day of a calendar month, the Lease Term for the East Wing Premises shall instead end on the last day of the calendar month during which the third (3rd) anniversary of the East Wing Premises Rent Commencement Date shall occur.

 

3.             Delivery of East Wing Premises.  Landlord shall paint the East Wing Premises and provide new carpet for the East Wing Premises, using Building standard materials, finishes 

 

 

and quantities (the “Delivery Condition Work”), on or before the East Wing Premises Rent Commencement Date.  Landlord shall have access to the East Wing Premises for the performance of the Delivery Condition Work, and Tenant shall coordinate its move-in and start of business operations with Landlord, including, if necessary, (a) moving all personal property and performing any other preparatory work as is necessary to permit Landlord to perform and complete the Delivery Condition Work in a timely fashion, and (b) ensuring that Tenant’s employees are not in any area affected by such Delivery Condition Work while the same is being conducted.  Tenant hereby acknowledges and agrees that Landlord’s performance of the Delivery Condition Work shall not constitute a constructive eviction of Tenant under the Lease, as amended hereby.  Except for the Delivery Condition Work, Landlord shall deliver the East Wing Premises to Tenant on the East Wing Premises Commencement Date in its then “AS-IS,” “WHERE-IS” condition, with all Building Systems serving the East Wing Premises in good working condition, without any additional obligation on the part of Landlord to perform any construction therein or to prepare the same for Tenant’s occupancy or otherwise.  Tenant shall not be charged for utilities or the use of elevators or hoists during Tenant’s initial move into the East Wing Premises.

 

4.             East Wing Premises Allowance.  Landlord shall provide to Tenant an allowance not to exceed $15.00 per rentable square foot in the East Wing Premises, i.e., $46,500.00 (the “Allowance”) to be applied toward the total costs of the Delivery Condition Work (the “Cost of Delivery Condition Work”).  The Allowance shall not be disbursed to Tenant in cash, but shall be applied by Landlord to the payment of the Cost of Delivery Condition Work, if, as, and when such costs are actually incurred and paid by Landlord.  In the event the actual Cost of Delivery Condition Work is an amount less than the amount of the Allowance, then Landlord shall only be obligated to apply the portion of the Allowance equal to such actual Cost of Delivery Condition Work and shall not be obligated to apply or otherwise disburse the remaining amount of the Allowance in excess of the actual Cost of Delivery Condition Work.  In the event the actual Cost of Delivery Condition Work exceeds the Allowance, Tenant shall be solely responsible for the payment of any such excess.  Any portion of the Allowance that has not been applied on or before the date that is sixty (60) days after the East Wing Premises Rent Commencement Date shall be deemed forfeited by Tenant and Landlord shall have no further obligation with respect thereto.

 

5.             Amendments to Article 1.1 of Lease As of East Wing Premises Commencement Date.  Effective as of the East Wing Premises Commencement Date, Article 1.1 of the Lease shall be amended as follows:

 

(a)                                 The definition of “PREMISES” shall be deleted and shall be replaced with the following:

 

“PREMISES:  A portion of the space located on the first (1st) floor of the West Wing of the Building consisting of approximately 4,202 rentable square feet of space and shown on Exhibit A hereto as the “Original Premises” (the “Original Premises”), and an additional portion of the space located on the first (1st) floor of the West Wing of the Building, consisting of approximately 1,912 rentable square feet of space and shown on Exhibit A hereto as the “Additional First Floor Premises” (the 

 

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‘Additional First Floor Premises’), and an additional portion of the space located on the first (1st) floor of the East Wing of the Building, consisting of approximately 3,100 rentable square feet of space and shown on Exhibit A hereto as the “East Wing Premises” (the “East Wing Premises”).”

 

(b)                                 The definition of “LEASE TERM” shall be amended by deleting the current definition in its entirety and substituting the following definition therefor:

 

“(i)                               For the Original Premises only, a period commencing on April 15, 2015 (the “Commencement Date”) and expiring on July 31, 2018 (the “Expiration Date”).

 

(ii)                                  For the Additional First Floor Premises only, that period commencing on February 20, 2016 (the “Additional First Floor Premises Commencement Date”) and expiring on the Expiration Date.

 

(iii)                               For the East Wing Premises only, that period commencing on the later of March 16, 2017 or the day after the date on which Avalon Ventures Management, LLC (“Avalon”) vacates the East Wing Premises (such later date shall be referred to herein as the “East Wing Premises Commencement Date”) and expiring on the third (3rd) anniversary of the East Wing Premises Rent Commencement Date, except that if the East Wing Premises Rent Commencement date shall be a date other than the first day of a calendar month, the Lease Term for the East Wing Premises shall instead end on the last day of the calendar month during which the third (3rd) anniversary of the East Wing Premises Rent Commencement Date shall occur.  As used in this Lease, the “Additional First Floor Premises Rent Commencement Date” shall mean the first day after the expiration of the Additional First Floor Premises Free Rent Period, and the “East Wing Premises Rent Commencement Date” shall mean the first day after the expiration of the East Wing Premises Free Rent Period.”

 

(c)                                  The definition of “MINIMUM ANNUAL RENT” shall be amended by adding the following at the end of the current definition therefore:

 

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“MINIMUM ANNUAL RENT for East Wing Premises only

 

	
Time Period
    	
 
    	
Minimum
   Annual Rent
    	
 
    	
Minimum
   Monthly Rent
    	
 
    
	
The 30 day period beginning on the East Wing   Premises Commencement Date (the “East Wing Premises Free Rent Period”)
    	
 
    	
$
    	
0.00
    	
 
    	
$
    	
0.00
    	
 
    
	
East Wing Premises Rent Commencement Date — the day   before the first (1st)   anniversary of the East Wing Premises Rent Commencement Date
    	
 
    	
$
    	
244,900.00
    	
 
    	
$
    	
20.408.33
    	
 
    
	
The first (1st) anniversary of the East   Wing Premises Rent Commencement Date — the day before the second (2nd) anniversary of the East   Wing Premises Rent Commencement Date
    	
 
    	
$
    	
248,000.00
    	
 
    	
$
    	
20,666.67
    	
 
    
	
The second (2nd ) anniversary of the East Wing Premises Rent   Commencement Date — the day before the third (3rd) anniversary of the East   Wing Premises Rent Commencement Date
    	
 
    	
$
    	
251,100.00
    	
 
    	
$
    	
20,925.00
    	
”
    

 

(d)                                 The definition of “EXPENSE STOP” shall be amended by providing the following at the end of the current definition therefor:

 

“For the East Wing Premises only, “Expense Stop” shall mean an amount equal to the Operating Costs for the calendar year ending December 31, 2017 divided by the Rentable Square Footage of the Building.”

 

(e)                                  The definition of “TAX STOP” shall be amended by providing the following at the end of the current definition therefor:

 

“For the East Wing Premises only, “Tax Stop” shall mean an amount equal to the Taxes for the tax fiscal year ending June 30, 2018 divided by the Rentable Square Footage of the Building.”

 

6.             Replacement of Exhibit A To Lease As of East Wing Premises Commencement Date.  Effective as of the East Wing Premises Commencement Date, Exhibit A to the Lease shall be amended by deleting it in its entirety and substituting Exhibit A attached hereto therefor.

 

7.             Parking Spaces.  In connection with the leasing of the East Wing Premises hereunder, so long as Tenant shall not be in default under the Lease beyond the expiration of applicable notice and cure periods, Tenant shall have the right to use four(4) parking spaces in the Automobile Parking Areas on an unreserved, unassigned basis, in common with other tenants of the Building.  During the Lease Term for the East Wing Premises, Tenant shall pay to Landlord each month with the payment of Base Rent the then monthly parking charge (currently

 

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$250 per space per month) set by Landlord, regardless of whether Tenant or any invitees, employees or contractors of Tenant actually use such spaces, for each of the four (4) parking spaces (the “East Wing Parking Charges”).  Such rate shall be subject to change by Landlord during the Lease Term for the East Wing Premises.  Tenant shall be responsible for causing its visitors to park only in spaces or areas marked “Visitor parking” and Tenant and its employees shall not park in spaces or areas marked “Visitor-Parking” or “No parking”.  Landlord reserves the right to tow any cars parked in “Visitor Parking” or “No Parking” areas at the sole expense of the owner of the improperly parked car.  Landlord reserves the right to designate reserved parking spaces for the Building’s tenants.  Nothing contained herein shall be deemed to create liability upon Landlord for any damage to motor vehicles of Tenant’s Permittees, or from loss of property from within such motor vehicles while parked in the Automobile Parking Areas. Landlord has the right to enforce against all users of the Automobile Parking Areas the rules and regulations set forth on the Parking Rules and Regulations attached as Exhibit C to the Lease, as the same may be amended by Landlord from time to time.  Tenant may elect to discontinue the use of one or more parking spaces upon thirty (30) days prior written notice to Landlord, and Tenant’s right to recommence the use of such discontinued spaces shall be subject to availability, as determined by Landlord.

 

8.             Signage.  To the extent not already provided, Landlord shall install, at Landlord’s sole cost and expense, Building standard suite identification signage for Tenant in the elevator lobby of the Premises.

 

9.             Applicability of Lease to East Wing Premises.  Effective as of the East Wing Premises Commencement Date, except to the extent otherwise expressly provided in this Amendment or except to the extent inconsistent with the terms of this Amendment, all terms and provisions of the Lease shall be applicable to Tenant’s leasing of the East Wing Premises.

 

10.          Brokerage.  Landlord and Tenant hereby represent and warrant to each other that, other than Lincoln Property Company and JLL (collectively, the “Brokers”), neither has dealt with any real estate broker or agent in connection with the procurement of this Amendment.  Other than for the Brokers, whose commissions shall be payable by Landlord pursuant to a separate agreement, Tenant shall indemnify and hold Landlord harmless from any costs, expense or liability (including costs of suit and reasonable attorneys’ fees) for any compensation, commission or fees claimed by any real estate broker or agent in connection with the procurement of this Amendment because of any act or statement by Tenant.

 

11.          Ratification of Lease Provisions.  Except as otherwise expressly amended, modified and provided for in this Amendment, Tenant hereby ratifies all of the provisions, covenants and conditions of the Lease, and such provisions, covenants and conditions shall be deemed to be incorporated herein and made a part hereof and shall continue in full force and effect.

 

12.          Entire Amendment.  This Amendment contains all the agreements of the parties with respect to the subject matter hereof and supersedes all prior dealings between the parties with respect to such subject matter.

 

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13.          Binding Amendment.  This Amendment shall be binding upon, and shall inure to the benefit of the parties hereto, and their respective successors and assigns.

 

14.          Governing Law.  This Amendment shall be governed by the laws of the Commonwealth of Massachusetts without regard to conflict of laws principles.

 

15.          Authority.  Landlord and Tenant each warrant to the other that the person or persons executing this Amendment on its behalf has or have authority to do so and that such execution has fully obligated and bound such party to all terms and provisions of this Amendment.

 

16.          No Reservation.  Submission of this Amendment for examination or signature is without prejudice and does not constitute a reservation, option or offer, and this Amendment shall not be effective until execution and delivery by each of the parties hereto.

 

17.          Counterparts.  This Amendment may be executed simultaneously 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.  An electronic mail or facsimile version of an executed original of this Agreement shall be deemed an original, and each of the parties hereto intends to be bound by an electronic mail or facsimile version of a fully-executed original hereof or of an electronic mail or facsimile version of executed counterpart originals hereof.

 

18.          Amendment Subject to Avalon Termination. Notwithstanding the foregoing, Tenant acknowledges that (i) all or a portion of the East Wing Premises are currently occupied by Avalon, (ii) Landlord shall not be liable to Tenant for failing to deliver the East Wing Premises, or any portion thereof, to Tenant by any particular date, and (iii) Tenant shall not have the right to terminate the Lease for Landlord’s failure to timely deliver the East Wing Premises, or any portion thereof, to Tenant by any particular date, but shall accept delivery of such East Wing Premises when delivered by Landlord; provided, however, that if the East Wing Premises Commencement Date has not occurred by 5:00 pm (Eastern Time) on the 90th day following the Effective Date, Tenant may terminate this Amendment with immediate effect upon written notice to Landlord.

 

[SIGNATURES ON FOLLOWING PAGE]

 

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WITNESS the execution hereof as of the date first above written.

 

	
 
    	
LANDLORD:
    
	
 
    	
 
    
	
 
    	
55   CAMBRIDGE PARKWAY, LLC, a Delaware limited liability company
    
	
 
    	
By:   Invesco ICRE Massachusetts REIT Holdings, LLC,
    
	
 
    	
Its   sole member
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Perry Chudnoff
    
	
 
    	
 
    	
Name:   Perry Chudnoff
    
	
 
    	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
TENANT:
    
	
 
    	
 
    
	
 
    	
AKCEA THERAPEUTICS, INC., a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Paula   Soteropoulos
    
	
 
    	
 
    	
Name:   Paula Soteropoulos
    
	
 
    	
 
    	
Title:   CEO
    

 

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SCHEDULE 1

 

Schedule is intended only to show the general outline of the East Wing Premises as of the East Wing Premises Commencement Date.  The depiction of interior windows, cubicles, modules, furniture and equipment in this Exhibit is for illustrative purposes only, but does not mean that such items exist.  Landlord is not required to provide, install or construct any such items. It does not in any way supersede any of Landlord’s rights set forth in the Lease (as amended) with respect to arrangements and/or locations of public parts of the Building and changes in such arrangements and/or locations.  It is not to be scaled; any measurements or distances shown should be taken as approximate.  The inclusion of elevators, stairways electrical and mechanical closets, and other similar facilities for the benefit of occupants of the Building does not mean such items are part of the East Wing Premises.

 

 

Schedule 1

 

Exhibit A

 

Exhibit A is intended only to show the general outline of the Premises (consisting of the Original Premises, the Additional First Floor Premises and the East Wing Premises) as of the East Wing Premises Commencement Date.  The depiction of interior windows, cubicles, modules, furniture and equipment in this Exhibit is for illustrative purposes only, but does not mean that such items exist.  Landlord is not required to provide, install or construct any such items. It does not in any way supersede any of Landlord’s rights set forth in the Lease (as amended) with respect to arrangements and/or locations of public parts of the Building and changes in such arrangements and/or locations.  It is not to be scaled; any measurements or distances shown should be taken as approximate.  The inclusion of elevators, stairways electrical and mechanical closets, and other similar facilities for the benefit of occupants of the Building does not mean such items are part of the Premises.

 

 

Exhibit A

 

 

EXHIBIT A (Page 2)

 

 

2

 

EXHIBIT A (Page 3)

 

 

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