Document:

Exhibit 4.4

 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN EXEMPTION FROM SUCH REQUIREMENT UNDER SUCH ACT.

 

[·] Warrants

 

COMMON STOCK WARRANT CERTIFICATE

 

To subscribe for and purchase shares of Common Stock, par value $0.001, of

 

ACCELERON PHARMA INC.

 

THIS CERTIFIES that, for valued received, [·] (“Holder”) or its registered successors and assigns, is the owner of the number of warrants (the “Warrants”) set forth above, each to purchase from ACCELERON PHARMA INC., a Delaware corporation (herein called the “Company”), on the terms provided herein but in any event no later than 5:00 p.m., Boston, Massachusetts time on the tenth annual anniversary of the date of this Warrant Certificate (the “Expiration Date”), one share of Common Stock, par value $0.001 per share, of the Company at an initial exercise price of $1.85, subject to adjustment from time to time pursuant to the provisions of Section 2. For purposes of this Warrant Certificate, the term “Common Shares” shall mean the class of capital stock of the

 

Company designated Common Stock, par value $0.001, pursuant to the Company’s Certificate of Incorporation, as amended, and any other class of capital stock of the Company resulting from successive changes or reclassification of the Common Stock. The issuance of this Warrant Certificate is made in consideration of a debt financing transaction between the Company and the Holder.

 

1.                                      Exercise of Warrants.

 

(a)                                 Cash Exercise. The Warrants evidenced hereby may be exercised at any time through the Expiration Date by the registered holder hereof, in whole or in part, by the surrender of this Warrant Certificate, duly endorsed (unless endorsement is waived by the Company), at the principal office of the Company (or at such other office or agency of the Company as it may designate by notice in writing to the registered holder hereof at such holder’s last address appearing on the books of the Company) and upon payment of the aggregate Exercise Price (as defined below) of the Common Shares purchased. The certificate(s) for such Common Shares shall be delivered to the registered holder hereof within a reasonable time, not exceeding thirty (30) days, after Warrants evidenced hereby shall have been so exercised and a new Warrant Certificate evidencing the number of Warrants, if any, remaining unexercised shall also be issued to the registered holder within such time unless such Warrants have expired. No fractional Common Shares of the Company, or scrips for any such fractional shares, shall be issued upon the exercise of any Warrants; but the holder hereof shall be entitled to cash equal to such fraction multiplied by the then fair market value of a Common Share as determined in good faith by the Company.

 

 

(b)                                 Net Exercise. In lieu of exercising the Warrants for cash, the holder hereof may elect to receive Common Shares equal to the value of the Warrants (or the portion thereof being canceled) by surrender of this Warrant Certificate, duly endorsed (unless endorsement is waived by the Company), together with a duly executed Subscription Notice in the form attached hereto indicating such election, to the principal office of the Company (or at such other office or agency of the Company as it may designate by notice in writing to the registered holder hereof at such holder’s last address appearing on the books of the Company), in which event the Company shall issue to the holder a number of Common Shares computed using the following formula:

 

X = Y(A-B)/A

 

Where
 X =                             The number of Common Shares to be issued to the holder.
 Y =                             The number of Common Shares purchasable under the Warrants.
 A =                             The fair market value of one Common Share.
 B =                             The Exercise Price (as adjusted to the date of such calculation).

 

For purposes of this Section 1 (b), the fair market value of the Common Shares shall mean the average of the closing bid and asked prices of the Common Shares quoted in the over-the-counter market in which the Common Shares are traded or the closing price quoted on any exchange on which the Common Shares are listed, whichever is applicable, as published in the The Wall Street Journal, for the ten (10) trading days prior to the date of determination of fair market value (or such shorter period of time during which such stock was traded over-the-counter or on such exchange). If the Common Shares are not traded on the over-the-counter market or on an exchange, the fair market value shall be the price per Common Share that the Company could obtain from a willing buyer for Common Shares sold by the Company from authorized but unissued shares, as such prices shall be determined in good faith by the Company’s Board of Directors.

 

(c)                                  Automatic Exercise. To the extent this Warrant is not previously exercised, it shall be automatically exercised in accordance with Sections 1(a) and 1(b) hereof (even if not surrendered) immediately before its expiration, involuntary termination or cancellation.

 

2.                                      Adjustment in Exercise Price and Number of Shares. The initial exercise price of $1.85 per share shall be subject to adjustment from time to time as hereinafter provided (such price, as last adjusted, being herein called the “Exercise Price”). Upon each adjustment of the Exercise Price, the holder of this Warrant Certificate shall thereafter be entitled to purchase at the Exercise Price resulting from such adjustment, the number of shares obtained by dividing the product of the number of shares purchasable pursuant hereto immediately prior to such adjustment and the Exercise Price immediately preceding such adjustment by the Exercise Price resulting from such adjustment.

 

(a)                                 Subdivision or Combination of Stock. If and whenever the Company shall at any time subdivide its outstanding Common Shares into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision shall be proportionately reduced,

 

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and conversely, in case the outstanding Common Shares of the Company shall be combined into a smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased.

 

(b)                                 Stock Dividends. If and whenever at any time the Company shall declare a dividend or make any other distribution upon any class or series of stock of the Company payable in Common Shares, the Exercise Price in effect immediately prior to such dividend or distribution shall be proportionately reduced as if such dividend or distribution had been made by way of a subdivision pursuant to Section 2(a) above.

 

(c)                                  Reorganization, Reclassification, Consolidation, Merger. If any capital reorganization, reclassification of the capital stock of the Company, consolidation or merger of the Company with another corporation, or sale, transfer or other disposition of all or substantially all of the Company’s properties to another corporation shall be effected, then, lawful and adequate provision shall be made whereby each holder of Warrants shall thereafter have the right to purchase and receive upon the basis and upon the terms and conditions herein specified and in lieu of the Common Shares immediately theretofore issuable upon exercise or the Warrants, such shares of stock, securities or properties (including cash paid as partial consideration) (collectively, the “Substitute Securities”) as may be issuable or payable with respect to or in exchange for a number of outstanding Common Shares equal to the number of Common Shares issuable upon exercise of the Warrants immediately prior to such reorganization, reclassification, consolidation, merger, sale, transfer or other disposition, and in any such case, appropriate provision shall be made with respect to the rights and interests of each holder of Warrants to the end that the provisions hereof shall thereafter be applicable, as nearly equivalent as may be practicable in relation to any Substitute Securities thereafter deliverable upon the exercise thereof. The above provisions of this Subsection 2(c) shall similarly apply to successive reorganizations, reclassification, consolidations, mergers, sales, transfers or dispositions.

 

3.                                      Company to Provide Stock. The Company covenants and agrees that all the Common Shares which may be issued upon the exercise of the Warrants evidenced hereby upon the due exercise, including the receipt by the Company of the aggregate Exercise Price for all Warrants exercised, will be duly authorized, validly issued and fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof to the registered holder hereof other than those which the Company shall promptly pay or discharge. The Company further covenants and agrees that during the period within which the Warrants evidenced hereby may be exercised, the Company will at all times reserve such number of Common Shares as may be sufficient to permit the exercise in full of the Warrants hereby.

 

4.                                      Other Notices. If any time prior to the Expiration Date of the Warrants evidenced hereby:

 

(a)                             The Company shall declare any dividend on the Common Shares payable in shares of capital stock of the Company other than Common Shares; or

 

(b)                                 The Company shall issue any options, warrants or rights pro rata to all holders of Common Shares entitling them to subscribe for or purchase any shares of stock of the Company or to receive any other rights; or

 

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(c)                                  The Company shall distribute pro rata to all holders of Common Shares evidences of its indebtedness or assets (excluding cash distributions paid out of retained earnings or retained surplus); or

 

(d)                                 There shall occur any reclassification of the Common Shares, or any consolidation or merger of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and which does not result in any reclassification of the Common Stock) or a sale or transfer to another corporation °fall or substantially ‘all of the properties of the Company; or

 

(e)                                  There shall occur the voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company;

 

then, and in each of such cases, the Company shall use commercially reasonable efforts to mail to the registered holder hereof at its last address appearing on the books of the Company, a reasonable time prior to the applicable record date (or determination date) mentioned below, a notice stating, to the extent such information is available, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or rights, or, if a record is not to be taken, the date as of which the holders of Common Shares or of record to be entitled to such dividend, distribution or rights are to be determined, or (ii) the date on which such liquidation, dissolution or winding up is expected to become effective and the date as of which it is expected that holders of Common Shares of record shall be entitled to exchange their Common Shares for securities or other property deliverable upon such reclassification, consolidation, merger, sale, transfer, liquidation, dissolution or winding up.

 

5.                                      Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant Certificate, and in the case of any such loss, theft or destruction of this Warrant Certificate, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, on surrender and cancellation of such Warrant Certificate, unless the Company has received notice that any such Warrant Certificate has been acquired by a bona fide purchase, the Company at its expense will execute and deliver, in lieu thereof, a new Warrant Certificate of like tenor.

 

6.                                      Registered Holder. The registered holder of this Warrant Certificate shall be deemed the owner hereof and of the Warrants evidenced hereby for all purposes. The registered holder of this Warrant Certificate shall not be entitled by virtue of ownership of this Warrant Certificate to any rights whatsoever as a shareholder of the Company.

 

7.                                      Amendments and Waivers.  Any provision in this Warrant Certificate to the contrary notwithstanding, changes in or additions to this Warrant Certificate may be made and compliance with any covenant or provision herein set forth may be omitted or waived if the Company shall obtain consent thereto in writing from the Company and the registered holder of this Warrant.

 

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8.                                      Transfer.

 

(a)                                 Subject to the terms and conditions of this Section 8, Holder’s rights in and under this Warrant are freely transferable; provided, however, that Holder shall not have any right to transfer any portion of this Warrant to: (A) any person or entity organized or domiciled outside the United States; (B) any person or entity with a primary business activity involving the life sciences or the research, development or sale of pharmaceutical or medical device products; or (C) any person or entity regularly engaged in the buy-out or acquisition of operating companies. Neither this Warrant Certificate and the Warrants evidenced hereby nor any Common Shares issued upon exercise hereof may be sold, transferred, pledged, hypothecated or otherwise disposed of unless and until: (i) there is then in effect a registration statement under the Securities Act of 1933, as amended (the “Securities Act”), covering such proposed disposition and such disposition is made in accordance with such registration statement and all applicable state securities laws; or (ii) (A) the transferor shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition, and (B) if reasonably requested by the Company, such transferor shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such securities under the Securities Act and that all requisite action has been or will, on a timely basis, be taken under any applicable state securities laws in connection with such disposition; and (iii) the proposed transferee shall have agreed in writing to be bound by the terms and provisions of this Section 8.

 

(b)                                 Notwithstanding the provisions of paragraphs (i) and (ii) above, no such registration statement or opinion of counsel shall be necessary for a transfer pursuant to Rule 144(k) promulgated under the Securities Act, or a transfer to an entity wholly owned by such transferor, if the transferee agrees in writing to be subject to the terms hereof to the same extent as if such transferee were an original holder of this certificate.

 

9.                                      Representations of Holder. By its acceptance of this Warrant Certificate, Holder hereby represents to the Company that, as of the date hereof:

 

(a)                                 Holder is acquiring the securities represented by this Warrant Certificate and issuable upon exercise or conversion hereof (collectively, the “Securities”) for its own account, for investment and not for, with a view to, or in connection with, any distribution or public offering thereof within the meaning of the Securities Act.

 

(b)                                 Holder understands that the Securities have not been, and will not be, registered under the Securities Act or any state securities law, by reason of their issuance in a transaction exempt from the registration requirements of the Securities Act and such laws, that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act and such laws or a subsequent disposition thereof is exempt from registration, that the certificates for the Securities shall bear a legend to such effect, and that appropriate stop transfer instructions may be issued. Holder further

 

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understands that such exemption depends upon, among other things, the bona fide nature of Holder’s investment intent expressed herein.

 

(c)                                  Holder has not been formed for the specific purpose of acquiring the Securities. Holder understands the term “accredited investor” as used in Regulation D promulgated under the Securities Act and represents and warrants to the Company that Holder is an “accredited investor” for purposes of acquiring the Securities.

 

(d)                                 Holder has sufficient knowledge and experience in business and financial matters and with respect to investment in securities of privately held companies so as to enable it to analyze and evaluate the merits and risks of the investment contemplated hereby and is capable of protecting its interest in connection with this transaction. Holder is able to bear the economic risk of such investment, including a complete loss of the investment.

 

(e)                                  Holder acknowledges that it and its representatives have had the opportunity to ask questions and receive answers from officers and representatives of the Company concerning the Company and its business and to obtain any additional information which the Company possesses or can acquire that is necessary to verify the accuracy of the information regarding the Company herein desired in connection with its purchase of Securities.

 

IN WITNESS WHEREOF, Acceleron Pharma Inc. has caused this Warrant Certificate to be signed by a duly authorized officer under seal, and this Warrant Certificate to be dated [·].

 

	
 
    	
ACCELERON PHARMA INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
APPROVED
    
	
 
    	
 
    
	
 
    	
Acceleron Legal Dept.
    
	
 
    	
 
    
	
 
    	
Date:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Initial:
    	
 
    

 

6Exhibit 10.3

 

RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT

 

(AMENDED AND RESTATED AS OF DECEMBER 22, 2011)

 

This Amended and Restated Right of First Refusal and Co-Sale Agreement (this “Agreement”) is made as of December 22, 2011 by and among Acceleron Pharma Inc., a Delaware corporation (the “Corporation”), the parties listed on Exhibit A hereto (the “Investors”), the persons listed as Founders on the signature pages hereto (the “Founders”) and the persons listed as Other Company Stockholders on the signature pages hereto (the “Other Company Stockholders” (the Founders and Other Company Stockholders are individually referred to herein as a “Company Stockholder” and, collectively, the “Company Stockholders”)).

 

WHEREAS, the Corporation, the Founders, and certain of the Investors (the “Existing Investors”) are parties to that certain Amended and Restated Right of First Refusal and Co-Sale Agreement dated June 10, 2010 (the “Prior Agreement”).

 

WHEREAS, the Existing Investors executing signature pages hereto hold at least two-thirds in voting power of the outstanding shares of Preferred Stock (as such capitalized term is defined in the Original Agreement) and Common Stock issued upon conversion of Preferred Stock and therefore may validly join with the Corporation to amend the terms of the Prior Agreement pursuant to Section 13 thereof.

 

WHEREAS, in connection with the sale by the Corporation of Series F Convertible Preferred Stock to certain of the Investors as of the date hereof, the Existing Investors and the Corporation desire to amend and restate the Prior Agreement as provided herein.

 

NOW, THEREFORE, in consideration of the premises and the covenants hereinafter set forth, the parties hereby agree as follows:

 

1.              Definitions.  As used in this Agreement, the following terms shall have the following meanings:

 

(a)                                 “Common Stock” shall mean the Corporation’s Common Stock, $.001 par value per share.

 

(b)                                 “Convertible Securities” shall mean any evidences of indebtedness, shares of capital stock or other securities directly or indirectly convertible into or exchangeable for Common Stock, including without limitation the Preferred Stock.

 

(c)                                  “Electing Right Holder” shall have the meaning set forth in Section 4(e).

 

(d)                                 “Investor Sale Option Period” shall have the meaning set forth in Section 5(a).

 

(e)                                  “Notice” shall have the meaning set forth in Section 3.

 

(f)                                   “Offered Shares” shall have the meaning set forth in Section 3.

 

 

(g)                                  “Options” shall mean any rights, options or warrants to subscribe for, purchase or otherwise acquire Common Stock or Convertible Securities.

 

(h)                                 “Participating Investor” shall have the meaning set forth in Section 5(a).

 

(i)                                     “Preferred Stock” shall mean the Corporation’s Series A Convertible Preferred Stock, par value $.001 per share, the Corporation’s Series B Convertible Preferred Stock, par value $.001 per share, the Corporation’s Series C Convertible Preferred Stock, par value $.001 per share, the Corporation’s Series C-1 Convertible Preferred Stock, par value $.001 per share, the Corporation’s Series D Convertible Preferred Stock, par value $.001 per share, the Corporation’s Series D-1 Convertible Preferred Stock, par value $.001 per share, the Corporation’s Series E Convertible Preferred Stock, par value $.001 per share, and the Corporation’s Series F Convertible Preferred Stock, par value $.001 per share.

 

(j)                                    “Proportionate Percentage” shall mean with respect to each Electing Right Holder a fraction, the numerator of which shall be the amount of shares of Stock owned by such Electing Right Holder and the denominator of which shall be the total amount of shares of Stock owned by all Electing Right Holders, in each case on a common-equivalent basis.

 

(k)                                 “Proposed Transferee” shall have the meaning set forth in Section 3.

 

(l)                                     “Put Notice” shall have the meaning set forth in Section 8.

 

(m)                             “Qualified Public Offering” shall mean a firm commitment underwritten public offering of Common Stock pursuant to an effective registration statement under the Securities Act covering the offer and sale of Common Stock for the account of the Corporation that results in an automatic conversion of all outstanding shares of Preferred Stock.

 

(n)                                 “Remaining Shares” shall have the meaning set forth in Section 4(b).

 

(o)                                 “Right Holder” shall mean each Investor, other than the Selling Stockholder.

 

(p)                                 “Right Holder Notice” shall have the meaning set forth in Section 4(b).

 

(q)                                 “Right Holder Purchase Option Period” shall have the meaning set forth in Section 4(e).

 

(r)                                    “Securities Act” shall mean the Securities Act of 1933, as amended.

 

(s)                                   “Selling Stockholder” shall have the meaning set forth in Section 3.

 

(t)                                    “Shares” shall mean and include all shares of Stock now owned or hereafter acquired by any Company Stockholder or Investor and all other securities of the Corporation which may be issued in exchange for or in respect of such shares of Stock (whether by way of stock split, stock dividend, combination of shares, reclassification, recapitalization, reorganization or any other means).

 

 

(u)                                 “Stock” shall mean and include all shares of Common Stock, Convertible Securities, Options and all other securities of the Corporation which may be issued in exchange for or in respect of shares of Common Stock, Convertible Securities or Options (whether by way of stock split, stock dividend, combination of shares, reclassification, recapitalization, reorganization, or any other means).

 

2.              Prohibited Transfers.  No Investor or Company Stockholder shall sell or otherwise transfer, by gift or otherwise, all or any part of its Shares except in compliance with the terms of this Agreement.

 

3.              Offer of Sale; Notice of Proposed Sale or Transfer.  If any Investor or any Company Stockholder desires to sell or otherwise transfer any of its Shares, or any interest therein, whether voluntarily or by operation of law (any such Investor or any Company Stockholder, a “Selling Stockholder”), such Selling Stockholder shall first deliver written notice of his desire to do so (the “Notice”) to the Corporation and each of the Right Holders.  The Notice must specify:  (i) the name and address of the party to which the Selling Stockholder proposes to sell or otherwise transfer the Shares or an interest in the Shares (the “Proposed Transferee”), (ii) the number of Shares the Selling Stockholder proposes to sell or otherwise transfer (the “Offered Shares”), (iii) the consideration per Share to be delivered to the Selling Stockholder for the proposed sale or transfer, and (iv) all other material terms and conditions of the proposed transaction, which must be bona fide.

 

4.              Corporation’s and Right Holders’ Option to Purchase.

 

(a)                                 Except as set forth in Section 6 of this Agreement, the Corporation shall have the first option to purchase all or any portion of the Offered Shares proposed to be sold or transferred by any Selling Stockholder, such option to be exercisable within thirty (30) days of receipt of the Corporation’s receipt of the Notice by acceptance of all of the terms of the Notice.

 

(b)                                 If the Corporation does not desire to purchase all of the Offered Shares of any Selling Stockholder, it shall promptly give written notice of that fact to the Right Holders, and the Selling Stockholder (the “Right Holder Notice”).  The Right Holder Notice shall specify the number of Offered Shares that the Corporation has elected not to purchase (the “Remaining Shares”).

 

(c)                                  If the Corporation duly exercises its option to purchase all or part of the Offered Shares, the closing of such purchase shall take place at the offices of the Corporation on the later of (i) the date five days after the expiration of such 30-day period or (ii) the date that the Right Holders consummate their purchase of Remaining Shares.

 

(d)                                 To the extent that the consideration proposed to be paid by the Proposed Transferee for the Offered Shares consists of property other than cash or a promissory note, the consideration required to be paid by the Corporation and/or the Right Holders exercising their options under this Section 4 may consist of cash equal to the value of such property, as determined in good faith by agreement of the Selling Stockholder and the Corporation and/or the Right Holders acquiring such Offered Shares.

 

 

(e)                                  Except as set forth in Section 6, each Right Holder shall have an option, exercisable for a period of fifteen (15) business days from the date of delivery of the Right Holder Notice (the “Right Holder Purchase Option Period”) by delivery of written notice to the Corporation and the Selling Stockholder, to purchase all or any portion of the Remaining Shares on the same terms that were available to the Corporation, except that the date for the closing of such purchases by the Right Holders exercising such option (the “Electing Right Holders”), shall be as described herein.  In the event that the notices received from Electing Right Holders cover the purchase of more than the total number of Remaining Shares, the Remaining Shares shall be allocated among the Electing Right Holders in accordance with their Proportionate Percentages or as the Electing Right Holders may otherwise agree.

 

(f)                                   If options to purchase have been exercised by the Right Holders with respect to some but not all of the Remaining Shares, the Electing Right Holders shall have an additional option, for a period of five days next succeeding the expiration of such 15 business day period, to purchase all or any part of the balance of such Remaining Shares on the terms and conditions set forth in the Notice, which option shall be exercised by the delivery of written notice to the Corporation.  In the event there are two or more such Electing Right Holders that choose to exercise the last-mentioned option for a total number of Remaining Shares in excess of the number available, the Remaining Shares available for such Electing Right Holders’ options shall be allocated among the Electing Right Holders in accordance with their Proportionate Percentages or as such Electing Right Holders may otherwise agree.

 

(g)                                  If the options to purchase the Remaining Shares are exercised in full by the Right Holders, the Corporation shall immediately notify all of the exercising Right Holders of that fact.  The closing of the purchase of the Remaining Shares shall take place at the offices of the Corporation no later than fifteen (15) business days after the date of such notice to the Investors.

 

(h)                                 Notwithstanding anything to the contrary herein, neither the Corporation nor any of the Right Holders shall have the right to purchase any of the Offered Shares hereunder unless the Corporation and/or the Right Holders exercise their option or options to purchase all of the Offered Shares.  If the Corporation and the Electing Right Holders do not elect to purchase all of the Offered Shares, the Selling Stockholder shall be free, subject to Section 5, to sell or transfer all, but not less than all, of the Offered Shares to the Proposed Transferee pursuant to the terms set forth in the Notice; provided, however, that such sale or transfer shall be consummated within 30 days after receipt of the Right Holder Notice.

 

5.              Investors’ Right to Participate in Sales.

 

(a)                                 Except as set forth in Section 6 of this Agreement, and except with respect to sales of Shares by Selling Stockholders to the Corporation or the Electing Right Holders pursuant to Section 4 of this Agreement, each Investor (other than an Investor that is an Electing Right Holder) shall have an option, exercisable for a period of fifteen (15) business days from the date of expiration of the Right Holder Purchase Option Period (the “Investor Sale Option Period”), to elect to participate in the sale of Offered Shares by a Selling Stockholder and to sell, on the terms as set forth in the Notice including at the same price per share on a common-equivalent basis, up to an equivalent proportion of the shares of Stock owned by such Investor as

 

 

the proposed sale of Offered Shares represents with respect to the Shares owned by the Selling Stockholder on the date of the Notice.  Such option shall be exercised by delivery of written notice to the Selling Stockholder.  Any Investor submitting such a notice is hereinafter referred to as a “Participating Investor.”

 

(b)                                 The Selling Stockholder shall use his best efforts to interest the Proposed Transferee in purchasing, in addition to the Offered Shares, the shares of Stock the Participating Investors wish to sell.  If the Proposed Transferee does not wish to purchase all of the shares of Stock made available by the Selling Stockholder and the Participating Investors, then each Participating Investor and the Selling Stockholder shall be entitled to sell, on the terms and conditions set forth in the Notice, at the same price per share on a common-equivalent basis, and at the same time as the sale of the Offered Shares by the Selling Stockholder, a portion of the shares of Stock being sold to the Proposed Transferee, in the same proportion as, (i) such Selling Stockholder’s ownership of Shares or such Participating Investor’s ownership of shares of Stock on a common-equivalent basis bears in each case to (ii) the aggregate amount of Shares owned by the Selling Stockholder and shares of Stock owned by the Participating Investors on a common-equivalent basis.  The transaction contemplated by the Notice, including the sale of shares of Stock by Participating Investors, shall be consummated not later than three (3) months after the giving of the Notice to the Corporation.

 

(c)                                  If the Participating Investors do not elect to sell the full amount of shares of Stock which they are entitled to sell pursuant to Subsection 5(b), the Selling Stockholder shall be entitled to sell to the Proposed Transferee, according to the terms set forth in the Notice, that number of his Offered Shares which equals the difference between the total number of Offered Shares and the number of shares of Stock the Participating Investors wish to sell, in each case on a common-equivalent basis.

 

(d)                                 If the Selling Stockholder wishes to sell or otherwise transfer any of his Shares to a party other than the Proposed Transferee, at a price per Share which differs from that set forth in the Notice, upon terms different from those previously offered to the Corporation and the Right Holders, or more than three months after the giving of the Notice to the Corporation, then, as a condition precedent to such transaction, the Selling Stockholder must first again comply with all of the provisions of Sections 3 through 5.

 

6.              Permitted Transfers.

 

(a)                                 Subject to the provisions of Section 6(b), the option to purchase described in Section 4 and the right to participate in sales described in Section 5 shall not apply to: (i) Shares to be sold to any Investor or Company Stockholder pursuant to this Agreement; (ii) any transfer of Shares by a Company Stockholder by gift or bequest or through inheritance to, or for the benefit of, the spouse or children of such Company Stockholder; (iii) any transfer of Shares by a Company Stockholder to a trust for the benefit solely of the spouse or children of such person; (iv) any transfer of Shares by a Company Stockholder to a limited partnership or limited liability company all partners or members of which are the Company Stockholder’s spouse or children; (v) any sale or transfer of Shares to the Corporation at a price that is less than or equal to the original purchase price of such Shares in connection with the termination of a Company Stockholder’s employment or consulting relationship with the Corporation pursuant to a stock

 

 

restriction agreement between the Corporation and such person; (vi) distributions, sales or other transfers of Shares to Affiliates (as defined below) of an Investor; or (vii) any sale of Common Stock to underwriters and/or the public in connection with a registered public offering by the Corporation of its securities.  For purposes of this Agreement, an “Affiliate” of any person shall mean any general or limited partner of any such person that is a partnership, member of any such person that is a limited liability company or any person or entity that, directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, such person, including any person or entity having the same investment manager or general partner as such person.

 

(b)                                 In the event of any transfer described in Section 6(a), the transferee of the Shares shall hold the Shares so acquired subject to all the restrictions imposed by this Agreement and shall be deemed an Investor or Company Stockholder, as the case may be, for all purposes hereof, and as a condition to such transfer, any such transferee shall, at the request of the Corporation or any Investor, execute and deliver a written instrument agreeing to be bound by the provisions of this Agreement.

 

7.              Stand-Off Agreement.  Each Founder, if requested by the Corporation and the managing underwriter of an offering by the Corporation of Common Stock pursuant to a registration statement under the Securities Act of 1933, as amended, shall agree not to sell publicly or otherwise transfer or dispose of any shares of Stock held by such Founder for a specified period of time (not to exceed 180 days) immediately following the effective date of such registration statement; provided, that:

 

(a)                                 such agreement shall apply only to the initial public offering of the Corporation’s securities; and

 

(b)                                 all persons who hold shares of Common Stock, or securities convertible into or exchangeable or exercisable for shares of Common Stock, which in aggregate represent one percent (1%) or more of the shares of Common Stock then outstanding (which 1% shall include all securities convertible into or exchangeable or exercisable for shares of Common Stock, on an as-converted, exchanged or exercised basis) (such person, a “1% Stockholder”), and all officers and directors of the Corporation, enter into similar agreements.

 

Any discretionary waiver or termination of the restrictions of such agreements (including this Agreement) by the Corporation or the managing underwriter (other than discretionary waivers or releases up to an amount of $50,000 due to financial hardship) shall apply to all persons subject to such agreements on a pro rata basis, based upon the number of shares held by such person subject to such agreements.

 

The stand-off agreement contained in this Section 7 is in addition to any other similar agreement that may exist between any Founder and the Corporation.

 

8.              Sale or Transfer in Violation of this Agreement.  If any sale or other transfer of Shares is made or attempted in violation of any provision of this Agreement, or if any Shares are not offered to the Corporation and the Right Holders as required hereby, the Corporation and the Right Holders shall have the right to purchase such Shares from the owner thereof or his transferee at any time before or after the transfer, as herein provided.  In addition to any other

 

 

legal or equitable remedies which it or they may have, the Corporation and the Right Holders may enforce their respective rights hereunder by actions for specific performance (to the extent permitted by law).  The Corporation shall not be required (i) to transfer on its books any Shares which have been sold or transferred in violation of any provision of this Agreement or (ii) to treat as the owner of such Shares, or to pay dividends to, any transferee to whom any such Shares have been so sold or transferred.  If any Investor or Company Stockholder becomes obligated to sell any Shares to the Corporation under this Agreement and fails to deliver such Shares in accordance with the terms of this Agreement, the Corporation may, at its option, in addition to all other remedies it may have, send to such person or entity the original purchase price for such Shares and cancel on its books the certificate or certificates representing the Shares to be sold.  Thereafter, all of the rights of such person or entity in and to such Shares shall terminate.  Upon any sale or other transfer of Shares made in violation of Section 5, each Investor may, in addition to any other legal or equitable remedies which it may have, by delivery of written notice to the Selling Stockholder (a “Put Notice”) within fifteen (15) days after the later of (i) the closing of such transfer or (ii) the date on which such Investor becomes aware of such transfer or the terms thereof, require the Selling Stockholder to purchase from such Investor within seven (7) days after delivery of the Put Notice for cash or such other consideration as the Selling Stockholder received in such transfer that number of shares of Stock (of the same class, series or type as transferred in such transfer if such Investor then owns shares of such class, series or type; otherwise of Common Stock) that such Investor was entitled to sell in the closing of such transfer pursuant to Section 5.

 

9.              Disposition of Shares.  Any Shares that the Corporation elects to purchase hereunder may be disposed of by it in such manner as it deems appropriate with or without restrictions on the transfer thereof, and the Corporation may require their transfer to a nominee or designee as part of any purchase of the Shares from an Investor or Company Stockholder, as the case may be.

 

10.       Restrictive Legend; Transfers.

 

(a)                                 All certificates representing Shares which are subject to this Agreement shall have affixed thereto a legend in substantially the following form, in addition to any other legends that may be required by the Corporation in connection with compliance with federal or state securities laws or otherwise:

 

“The shares of stock represented by this certificate are subject to restrictions on transfer and/or an option to purchase set forth in a Right of First Refusal and Co-Sale Agreement between the Corporation and the registered owner of the shares represented by this certificate (or his predecessor in interest).  The Corporation will furnish a copy of such agreement(s) to the holder of this certificate upon written request without charge.”

 

The Corporation shall cause such legend to be affixed to any of such certificates not so legended.

 

 

(b)                                 In order to ensure compliance with the restrictions referred to herein, each Investor and Company Stockholder agrees that the Corporation may issue appropriate “stop transfer” instructions.

 

(c)                                  No Shares shall be transferred unless such transfer is made in compliance with applicable federal and state securities laws.  The Corporation shall not be required (i) to transfer on its books any Shares that have been transferred in violation of any provision of this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such Shares have been so transferred.

 

11.       Termination.  The rights and obligations of the parties under Sections 2 through 6 and Section 10 shall terminate upon the closing of a Qualified Public Offering.

 

12.       Specific Enforcement.  Each signatory to this Agreement expressly agrees that a violation of this Agreement by such signatory could not be adequately compensated by money damages alone and that the Right Holders and the Corporation will be irreparably harmed if this Agreement is not specifically enforced.  Upon a breach or threatened breach of the terms, covenants and/or conditions of this Agreement by any Investor or Company Stockholder, the Right Holders and the Corporation shall, in addition to all other remedies, each be entitled to a temporary or permanent injunction, and/or a decree for specific performance, in accordance with the provisions hereof.

 

13.       Waiver, Modification and Termination.  This Agreement may be amended, and compliance with any provision of this Agreement may be omitted or waived, only by the written agreement of (i) the Corporation, (ii) Investors holding at least two-thirds in voting power of the then-outstanding shares of Preferred Stock, and Common Stock issued upon conversion of Preferred Stock, held by Investors and (iii) in the case of amendments or waivers that adversely affect the rights of the Company Stockholders hereunder in a manner in which the rights of Investors are not likewise adversely affected, Company Stockholders holding a majority in voting power of the then-outstanding shares of Stock held by Company Stockholders; provided, however, that no rights of any Investor or Company Stockholder hereunder shall, without its consent, be adversely affected by any such modification, amendment or waiver in any manner in which the rights of other Investors or Company Stockholders, as applicable, are not likewise adversely affected.

 

14.       Binding Effect; Assignment.  This Agreement shall be binding upon the parties hereto and their heirs, legal representatives, successors and assigns.  The rights and obligations of the Investors and Company Stockholders hereunder may not be assigned or delegated without the written consent of the Corporation; provided, however, that the Investors may assign their rights under this Agreement to their respective Affiliates without the consent of the Corporation.

 

 

15.       Notices.  All notices, requests, consents and other communications hereunder (“Notices”) to any party shall be contained in a written instrument addressed to such party at the address set forth below or such other address as may hereafter be designated in writing by the addressee to the addressor listing all parties and shall be deemed given (a) when delivered in person or duly sent by fax showing confirmation of receipt, (b) three days after being duly sent by first class mail postage prepaid (other than in the case of Notices to or from any non-U.S. resident, which Notices must be sent in the manner specified in clause (a) or (c)), or (c) two days after being duly sent by DHL, Federal Express or other recognized express international courier service:

 

(a)                                 if to the Corporation, to:

 

Acceleron Pharma Inc.

128 Sidney Street

Cambridge, MA 02139

 

with a copy to:

 

Ropes & Gray LLP

Prudential Tower

800 Boylston Street

Boston, MA 02199-3600

Attn: Marc Rubenstein

Fax: (617) 951-7050

 

(b)                                 if to the Investors, to their respective addresses set forth on Exhibit A of this Agreement.

 

(c)                                  if to the Founders, to their respective addresses set forth on the signature pages of this Agreement or to such Founder c/o the Corporation.

 

(d)                                 if to the Other Company Stockholders, to their respective addresses set forth on the signature pages of this Agreement or c/o the Corporation.

 

16.       Severability.  If any provision of this Agreement shall be held to be illegal, invalid or unenforceable, such illegality, invalidity or unenforceability shall attach only to such provision and shall not in any manner affect or render illegal, invalid or unenforceable any other provision of this Agreement, and this Agreement shall be carried out as if any such illegal, invalid or unenforceable provision were not contained herein.

 

17.       Governing Law.  This Agreement shall be governed by, and construed and enforced in accordance with, the substantive law of the Commonwealth of Massachusetts, without regard to its principles of conflicts of laws.

 

18.       Captions.  Captions are for convenience only and are not deemed to be part of this Agreement.

 

 

19.       Counterparts; Facsimile Signatures.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute a single instrument.  Each such counterpart may contain one or more signature pages.  This Agreement may be executed by facsimile signatures.

 

20.       Entire Agreement.  This Agreement states the entire agreement of the parties concerning the subject matter hereof, and supersedes all prior agreements, written or oral, between or among them concerning such subject matter (except as expressly provided in Section 7).

 

[Remainder of page intentionally left blank.]

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Right of First Refusal and Co-Sale Agreement as a contract under seal as of the date first above written.

 

	
 
    	
ACCELERON   PHARMA INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   John Knopf
    
	
 
    	
 
    	
John   Knopf, Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
FOUNDERS
    
	
 
    	
 
    
	
 
    	
/s/   John Knopf
    
	
 
    	
John   Knopf
    
	
 
    	
Address:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Jasbir   Seehra
    
	
 
    	
Address:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Tom   Maniatis
    
	
 
    	
Address:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Mark   Ptashne
    
	
 
    	
Address:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Bruce   Eisen
    
	
 
    	
Address:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Wylie   Vale
    
	
 
    	
Address:
    	
 
    
	
 
    	
 
    	
 
    
				

 

Signature Page to Right of First Refusal

 

 

	
 
    	
OTHER   COMPANY STOCKHOLDERS
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Edwin M. Kania, Jr.
    
	
 
    	
Edwin   M. Kania, Jr.
    
	
 
    	
Address:
    	
c/o Flagship Ventures
    
	
 
    	
 
    	
One Memorial Drive, 7th Floor
    
	
 
    	
 
    	
Cambridge, MA 02142
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Noubar B. Afeyan
    
	
 
    	
Noubar   B. Afeyan
    
	
 
    	
Address:
    	
c/o Flagship Ventures
    
	
 
    	
 
    	
One Memorial Drive, 7th Floor
    
	
 
    	
 
    	
Cambridge, MA 02142
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

	
EXECUTED   this 22nd day of December, 2011.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
POLARIS   VENTURE PARTNERS IV, L.P.
    
	
 
    	
 
    
	
 
    	
BY:   POLARIS VENTURE MANAGEMENT CO. IV, L.L.C.
    
	
 
    	
 
    	
ITS   GENERAL PARTNER
    
	
 
    	
 
    
	
 
    	
POLARIS   VENTURE PARTNERS
    
	
 
    	
ENTREPRENEURS’   FUND IV, L.P.
    
	
 
    	
 
    
	
 
    	
BY:   POLARIS VENTURE MANAGEMENT CO. IV L.L.C.
    
	
 
    	
 
    	
ITS   GENERAL PARTNER
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ William E. Bilodeau
    
	
 
    	
William   E. Bilodeau
    
	
 
    	
Attorney-in-fact
    
				

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
 
    	
VENROCK   PARTNERS, L.P.,
    
	
 
    	
 
    
	
 
    	
by   its General Partner, Venrock Partners
    
	
 
    	
Management,   LLC
    
	
 
    	
 
    
	
 
    	
VENROCK   ASSOCIATES IV, L.P.,
    
	
 
    	
 
    
	
 
    	
by   its General Partner, Venrock Management IV, LLC
    
	
 
    	
 
    
	
 
    	
VENROCK   ENTREPRENEURS FUND IV, L.P.,
    
	
 
    	
 
    
	
 
    	
by   its General Partner, VEF Management IV, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/  Authorized Signatory
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
ADVANCED   TECHNOLOGY VENTURES VII, L.P.
    	
ADVANCED   TECHNOLOGY VENTURES VII(C), L.P.
    
	
By:
    	
ATV   Associates VII, L.L.C.
    	
By:
    	
ATV   Associates VII, L.L.C.
    
	
 
    	
Its   General Partner
    	
 
    	
Its   General Partner
    
	
 
    	
 
    
	
By:
    	
/s/   Jean George
    	
 
    	
By:
    	
/s/   Jean George
    
	
Name:   Jean George
    	
Name:   Jean George
    
	
Title:   Managing Director
    	
Title:   Managing Director
    
	
 
    	
 
    
	
ADVANCED   TECHNOLOGY VENTURES VI, L.P. 
    	
ATV   ALLIANCE 2003, L.P.  
    
	
By:
    	
ATV   Associates VI, L.L.C.
    	
By:
    	
ATV   Alliance Associates, L.L.C.
    
	
 
    	
Its   General Partner
    	
 
    	
Its   General Partner
    
	
 
    	
 
    
	
By:
    	
/s/   Jean George
    	
 
    	
By:
    	
/s/   Jean George
    
	
Name:   Jean George
    	
Name:   Jean George
    
	
Title:   Managing Director
    	
Title:   Managing Director
    
	
 
    	
 
    
	
ADVANCED   TECHNOLOGY VENTURES VII(B), L.P.  
    	
ATV   ENTREPRENEURS VI, L.P.     
    
	
By:
    	
ATV   Associates VII, L.L.C.
    	
By:
    	
ATV   Associates VI, L.L.C.
    
	
 
    	
Its   General Partner
    	
 
    	
Its   General Partner
    
	
 
    	
 
    
	
By:
    	
/s/   Jean George
    	
 
    	
By:
    	
/s/   Jean George
    
	
Name:   Jean George
    	
Name:   Jean George
    
	
Title:   Managing Director
    	
Title:   Managing Director
    
	
 
    	
 
    
	
ATV   ENTREPRENEURS VII, L.P.     
    	
 
    
	
By:
    	
ATV   Associates VII, L.L.C.
    	
 
    
	
 
    	
Its   General Partner
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Jean George
    	
 
    	
 
    
	
Name:   Jean George
    	
 
    
	
Title:   Managing Director
    	
 
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
 
    	
CELGENE   CORPORATION
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Perry Karsen
    
	
 
    	
Name:
    	
Perry   Karsen
    
	
 
    	
Title:
    	
Chief   Operating Officer
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
ORBIMED   PRIVATE INVESTMENTS II, LP 
    	
ORBIMED   PRIVATE INVESTMENTS II (QP), LP  
    
	
By:
    	
Orbimed   Capital GP II LLC
    	
By:
    	
Orbimed   Capital GP II LLC
    
	
 
    	
its   General Partner
    	
 
    	
its   General Partner
    
	
 
    	
 
    
	
By:
    	
/s/   Carl Gordon
    	
 
    	
By:
    	
/s/   Carl Gordon
    
	
Name:   Carl Gordon
    	
Name:   Carl Gordon
    
	
Title:   Member
    	
Title:   Member
    
	
 
    	
 
    
	
ORBIMED   PRIVATE INVESTMENTS II, LP     
    	
 
    
	
By:
    	
Orbimed   Capital GP II LLC
    	
 
    
	
 
    	
its   General Partner
    	
 
    
	
By:
    	
/s/   Carl Gordon
    	
 
    	
 
    
	
Name:   Carl Gordon
    	
 
    
	
Title:   Member
    	
 
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

 

	
 
    	
APPLIED   GENOMIC TECHNOLOGY CAPITAL FUND, L.P.; AGTC ADVISORS FUND, L.P.
    
	
 
    	
 
    
	
 
    	
Each   by: AGTC Partners, L.P., its General Partner
    
	
 
    	
 
    
	
 
    	
By:   NewcoGen Group Inc., its General Partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Noubar B Afeyan
    
	
 
    	
Name:
    	
Noubar   B Afeyan
    
	
 
    	
Title:
    	
President
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

 

	
 
    	
BESSEMER   VENTURE PARTNERS VII L.P.,
    
	
 
    	
BESSEMER   VENTURE PARTNERS VII
    
	
 
    	
INSTITUTIONAL   L.P.
    
	
 
    	
 
    
	
 
    	
By:   Deer VII & Co. L.P., their General Partner
    
	
 
    	
By:   Deer VII & Co. Ltd., its General Partner
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   J. Edmund Colloton
    
	
 
    	
Name:
    	
J.   Edmund Colloton
    
	
 
    	
Title:
    	
Director
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
 
    	
ALKERMES, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Landine
    
	
 
    	
Name:
    	
Michael   Landine
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    	
 
    
	
SUTTER   HILL VENTURES, A CALIFORNIA LIMITED PARTNERSHIP
    	
 
    	
DAVID   L. ANDERSON, TRUSTEE OF THE ANDERSON LIVING TRUST U/A/D 1/22/98
    
	
By:
    	
Sutter   Hill Ventures, L.L.C.
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
 
    	
its   General Partner
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
By:
    	
/s/   Jeffrey W. Bird
    	
 
    	
David   L. Anderson, Trustee
    
	
Name:   Jeffrey W. Bird
    	
 
    	
 
    
	
Title:   Managing Director
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
ANVEST,   L.P.
    	
 
    	
G.   LEONARD BAKER, JR. AND MARY ANNE BAKER, CO-TRUSTEES OF THE BAKER REVOCABLE   TRUST U/A/D 2/3/03
    
	
By   Robert Yin Under Power of Attorney
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
David   L. Anderson, Trustee of The Anderson Living Trust U/A/D 1/22/98, General   Partner
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
 
    	
 
    	
G.   Leonard Baker, Jr., Trustee
    
	
 
    	
 
    	
 
    
	
SAUNDERS   HOLDINGS, L.P.
    	
 
    	
YOVEST,   L.P.
    
	
By   Robert Yin Under Power of Attorney
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
G.   Leonard Baker, Jr., Trustee of the Baker Revocable Trust U/A/D 2/3/03,   General Partner
    	
 
    	
William   H. Younger, Jr., Trustee of The William H. Younger, Jr. Revocable Trust U/A/D   8/5/09, General Partner
    
	
 
    	
 
    	
 
    
	
WILLIAM   H. YOUNGER, JR. TRUSTEE, THE WILLIAM H. YOUNGER, JR. REVOCABLE TRUST U/A/D   8/5/2009
    	
 
    	
DAVID   E. SWEET AND ROBIN T. SWEET, AS TRUSTEES OF THE DAVID AND ROBIN SWEET LIVING TRUST,   DATED 7/6/04
    
	
By   Robert Yin Under Power of Attorney
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
William   H. Younger, Jr., Trustee
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
ROOSTER   PARTNERS, LP 
    	
 
    	
GREGORY   P. SANDS AND SARAH J.D. SANDS AS TRUSTEES OF GREGORY P. AND SARAH J.D. SANDS   TRUST AGREEMENT DATED 2/24/99
    
	
By   Robert Yin Under Power of Attorney
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
Tench   Coxe, Trustee of The Coxe Revocable Trust U/A/D 4/23/98, General Partner
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
 
    	
 
    	
Gregory   P. Sands, Trustee
    

 

Signature Page to Right of First Refusal

 

 

	
JAMES   C. GAITHER, TRUSTEE OF THE GAITHER REVOCABLE TRUST U/A/D 9/28/2000
    	
 
    	
TALLACK   PARTNERS, L.P.
   By Robert Yin Under Power of Attorney
    
	
By   Robert Yin Under Power of Attorney
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
By:
    	
/s/ Robert Yin
    	
 
    	
James   C. Gaither, Trustee of The Gaither Revocable Trust U/A/D 9/28/2000, General   Partner
    
	
James   C. Gaither, Trustee
    	
 
    
	
 
    	
 
    	
 
    
	
By   Robert Yin Under Power of Attorney
    	
 
    	
RONALD   D. BERNAL AND PAMELA M. BERNAL AS TRUSTEES OF THE BERNAL FAMILY TRUST U/D/T   11/3/1995
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
James   C. Gaither
    	
 
    	
 
    
	
 
    	
 
    	
By:   
    	
/s/   Robert Yin
    
	
 
    	
 
    	
 
    
	
JAMES   N. WHITE AND PATRICIA A. O’BRIEN AS TRUSTEES OF THE WHITE FAMILY TRUST U/A/D   4/3/97
    	
 
    	
JEFFREY   W. BIRD AND CHRISTINA R. BIRD AS TRUSTEES OF JEFFREY W. AND CHRISTINA R. BIRD   TRUST AGREEMENT DATED 10/31/00
    
	
By   Robert Yin Under Power of Attorney
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
James   N. White, Trustee
    	
 
    	
Jeffrey   W. Bird, Trustee
    
	
 
    	
 
    	
 
    
	
ANDREW   T. SHEEHAN AND NICOLE J. SHEEHAN AS TRUSTEES OF SHEEHAN 2003 TRUST
   By Robert Yin Under Power of Attorney
    	
 
    	
MICHAEL   L. SPEISER AND MARY ELIZABETH SPEISER, CO TRUSTEES OF SPEISER TRUST AGREEMENT   DATED 7/19/06
    
	
 
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
 
    
	
Andrew   T. Sheehan, Trustee
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
 
    	
 
    	
Michael   L. Speiser, Trustee
    
	
 
    	
 
    	
 
    
	
MICHAEL   L. NAAR AND DIANE J. NAAR AS TRUSTEES OF NAAR FAMILY TRUST U/A/D 12.22.94
    	
 
    	
PATRICK   ANDREW CHEN AND YU-YING CHIU CHEN AS TRUSTEES OF PATRICK AND YING CHEN 2001   LIVING TRUST DATED 3/17/01
    
	
By   Robert Yin Under Power of Attorney
    	
 
    	
By   Robert Yin Under Power of Attorney
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
By:
    	
/s/   Robert Yin
    
	
 
    	
 
    	
 
    
	
TENCH   COXE AND SIMONE OTUS COXE, CO-TRUSTEES OF THE COXE REVOCABLE TRUST U/A/D   4/23/98
    	
 
    	
 
    
	
By   Robert Yin Under Power of Attorney
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Robert Yin
    	
 
    	
 
    
	
Tench   Coxe, Trustee
    	
 
    	
 
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    	
 
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Sheryl W. Casella
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Sheryl W. Hossack
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Gregory P. Sands
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Tench Coxe
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Ronald D. Bernal
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Lynne M. Brown (Rollover)
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO David E. Sweet
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO William H. Younger, Jr.
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO David E. Sweet (Rollover)
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Robert Yin
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Lynne B. Graw
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO David L. Anderson
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Lynne B. Graw (Rollover)
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Andrew T. Sheehan
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Diane J. Narr
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Yu-Ying Chen
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Patricia Tom (Post)
    	
 
    	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Patricia Tom (Pre)
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Patricia Tom (Rollover)
    	
 
    	
Wells   Fargo Bank, N.A. FBO James N. White Roth IRA
    
	
Wells   Fargo Bank, N.A. FBO Jeffrey W. Bird Roth IRA
    	
 
    	
Wells   Fargo Bank, N.A. FBO Gregory P. Sands Roth IRA
    
	
Wells   Fargo Bank, N.A. FBO David E. Sweet Roth IRA
    	
 
    	
 
    

 

	
By:
    	
/s/   Thomas M. Thurston
    	
 
    
	
Name:
    	
Thomas   M. Thurston
    	
 
    
	
Title:
    	
Vice   President
    	
 
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
QVT   FUND LP,    
    	
QUINTESSENCE   FUND LP, 
    
	
 
    	
 
    
	
BY:   ITS GENERAL PARTNER, QVT ASSOCIATES GP LLC
    	
BY:   ITS GENERAL PARTNER, QVT ASSOCIATES GP LLC
    
	
 
    	
 
    
	
By:
    	
/s/   Keith S. Manchester
    	
 
    	
By:
    	
/s/   Keith S. Manchester
    
	
Name:   Keith S. Manchester
    	
Name:   Keith S. Manchester
    
	
Title:   Portfolio Manager
    	
Title:   Portfolio Manager
    
					

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
AVALON   VENTURES VI, LP   
    	
AVALON   VENTURES VI, GP FUND, LLC   
    
	
 
    	
 
    
	
By:
    	
/s/   Douglas Downs
    	
 
    	
By:
    	
/s/   Douglas Downs
    
	
Name:   Douglas Downs
    	
Name:   Douglas Downs
    
	
Title:   Authorized Signer & CFO
    	
Title:   Authorized Signer & CFO
    
					

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
 
    	
MIDCAP   FINANCIAL, LLLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Luis Viera
    
	
 
    	
Name:
    	
Luis   Viera
    
	
 
    	
Title:
    	
Managing   Director
    

 

Signature Page to Right of First Refusal

 

 

ACCELERON PHARMA INC.

 

Amended and Restated Right of First Refusal and Co-Sale Agreement

 

Investor Signature Page

 

By executing this page in the space provided, the undersigned hereby agrees (i) that it is an “Investor” as defined in the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of December 22, 2011, by and among Acceleron Pharma Inc. and the parties named therein (the “Right of First Refusal and Co-Sale Agreement”), (ii) that it is a party to the Right of First Refusal and Co-Sale Agreement for all purposes and (iii) that it is bound by all terms and conditions of the Right of First Refusal and Co-Sale Agreement.

 

EXECUTED this 22nd day of December, 2011.

 

	
 
    	
 
    
	
 
    	
HERCULES   TECHNOLOGY II, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   K. Nicholas Martitsch
    
	
 
    	
Name:
    	
K.   Nicholas Martitsch
    
	
 
    	
Title:
    	
Associate   General Counsel
    

 

Signature Page to Right of First Refusal

 

 

Exhibit A

 

Investors

 

	
Investor
    	
 
    	
Address
    
	
Bessemer Venture Partners VII L.P.
    	
 
    	
c/o Bessemer Venture Partners
 1865 Palmer Avenue, Suite 104
 Larchmont, NY 10538
    
	
Bessemer   Venture Partners VII Institutional L.P.
    	
 
    	
c/o Bessemer Venture Partners
 1865 Palmer Avenue, Suite 104
 Larchmont, NY 10538
    
	
Polaris   Venture Partners IV, L.P.

    	
 
    	
1000 Winter Street, Suite 3350
 Waltham, MA 02451
    
	
Polaris   Venture Partners Entrepreneurs’ Fund IV, L.P.

    	
 
    	
1000 Winter Street, Suite 3350
 Waltham, MA 02451
    
	
OrbiMed   Private Investments II LP

    	
 
    	
OrbiMed Advisors, LLC
 Attn: Carl Gordon
   767 Third Avenue
   30th Floor
   New York, NY 10017
    
	
OrbiMed   Private Investments II (QP), LP
    	
 
    	
OrbiMed Advisors, LLC
 Attn: Carl Gordon
   767 Third Avenue
   30th Floor
   New York, NY 10017
    
	
UBS   Juniper Crossover Fund, LLC

    	
 
    	
OrbiMed Advisors, LLC
 Attn: Carl Gordon
   767 Third Avenue
   30th Floor
   New York, NY 10017
    
	
Advanced   Technology Ventures VII, LP
    	
 
    	
500   Boylston Street, Suite 1380
   Boston, MA 02116
    
	
Advanced   Technology Ventures VII (B), LP
    	
 
    	
500   Boylston Street, Suite 1380
   Boston, MA 02116
    
	
Advanced   Technology Ventures VII (C), LP
    	
 
    	
500   Boylston Street, Suite 1380
   Boston, MA 02116
    
	
ATV   Entrepreneurs VII, LP
    	
 
    	
500   Boylston Street, Suite 1380
   Boston, MA 02116
    
	
Advanced   Technology Ventures VI, LP
    	
 
    	
500   Boylston Street, Suite 1380
   Boston, MA 02116
    
	
ATV   Entrepreneurs VI, LP
    	
 
    	
500   Boylston Street, Suite 1380
   Boston, MA 02116
    
	
Applied   Genomic Technology Capital Fund, L.P.

    	
 
    	
One Memorial Drive, 7th Floor
 Cambridge, MA 02142
    
	
AGTC   Advisors Fund, L.P.
    	
 
    	
One Memorial Drive, 7th Floor
 Cambridge, MA 02142
    
	
Venrock   Partners, L.P.

    	
 
    	
530 Fifth Avenue, 22nd Floor
 New York, NY 10036
    
	
Venrock   Associates IV, L.P.

    	
 
    	
530 Fifth Avenue, 22nd Floor
 New York, NY 10036
    

 

 

	
Venrock   Entrepreneurs Fund IV, L.P.

    	
 
    	
530 Fifth Avenue, 22nd Floor
 New York, NY 10036
    
	
Sutter   Hill Ventures, A California Limited Partnership
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
David   L. Anderson, Trustee of The Anderson Living Trust U/A/D 1/22/98
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Anvest,   L.P.
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
G.   Leonard Baker, Jr. and Mary Anne Baker, Co-Trustees of The Baker   Revocable Trust U/A/D 2/3/03
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Saunders   Holdings, L.P.
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Yovest,   L.P.
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Rooster   Partners, LP
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Gregory   P. Sands and Sarah J.D. Sands as Trustees of Gregory P. and Sarah J.D. Sands   Trust Agreement Dated 2/24/99
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
James   C. Gaither
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
James   C. Gaither, Trustee of The Gaither Revocable Trust U/A/D 9/28/2000
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Tallack   Partners, L.P.
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
James   N. White and Patricia A. O’Brien as Trustees of The White Family Trust U/A/D   4/3/97
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Jeffrey   W. Bird and Christina R. Bird as Trustees of Jeffrey W. and Christina R. Bird   Trust Agreement Dated 10/31/00
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Ronald   D. Bernal and Pamela M. Bernal as Trustees of The Bernal Family Trust U/D/T   11/3/1995
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Andrew   T. Sheehan and Nicole J. Sheehan as Trustees of Sheehan 2003 Trust
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Michael   I. Naar and Diane J. Naar as Trustees of Naar Family Trust U/A/D 12.22.94
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Patrick   Andrew Chen and Yu-Ying Chiu Chen as Trustees of Patrick and Ying Chen 2001   Living Trust Dated 3/17/01
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    

 

 

	
Tench   Coxe and Simone Otus Coxe, Co-Trustees of The Coxe Revocable Trust U/A/D   4/23/98
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
William   H. Younger, Jr. Trustee, The William H. Younger, Jr., Revocable   Trust U/A/D 8/5/2009
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Michael   L. Speiser and Mary Elizabeth Speiser, Co-Trustees of Speiser Trust Agreement   Dated 7/19/06
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
David   E. Sweet and Robin T. Sweet, as Trustees of the David and Robin Sweet Living   Trust, dated 7/6/04
    	
 
    	
755 Page Mill Road, Suite A-200
 Palo Alto, CA 94304-1005
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Sherryl W. Casella
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Tench Coxe

    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO David L. Anderson
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO William H. Younger, Jr.
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Andrew T. Sheehan
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO David E. Sweet
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Lynne B. Graw
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Diane J. Naar
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Yu-Ying Chen
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    

 

 

	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Patricia Tom (Pre)
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Patricia Tom (Post)
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Robert Yin
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Ronald D. Bernal
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Sherryl W. Hossack
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank, N.A. FBO SHV Profit Sharing Plan FBO Lynne M. Brown
    	
 
    	
Attention:   Tom Thurston
   600 California Street, 12th Floor
   MAC A0193-120
   San Francisco, CA 94108
    
	
Wells   Fargo Bank N.A. FBO James N. White Roth IRA
    	
 
    	
Wells Fargo Trust Operations - CHOPS
 NW 7595
 Account # 23883800
 P.O. Box 1450
 Minneapolis, MN 55485-759
    
	
Wells   Fargo Bank N.A. FBO Jeffrey W. Bird Roth IRA
    	
 
    	
Wells Fargo Trust Operations - CHOPS
 NW 7595
 Account # 23883700
 P.O. Box 1450
 Minneapolis, MN 55485-759
    
	
Wells   Fargo Bank N.A. FBO Gregory P. Sands Roth IRA
    	
 
    	
Wells Fargo Trust Operations - CHOPS
 NW 7595
 Account # 23883300
 P.O. Box 1450
 Minneapolis, MN 55485-759
    
	
Wells   Fargo Bank N.A. FBO David E. Sweet Roth IRA
    	
 
    	
Wells Fargo Trust Operations - CHOPS
 NW 7595
 Account # 23883400
 P.O. Box 1450
 Minneapolis, MN 55485-7595
    
	
MPM   BioEquities Master Fund LP
    	
 
    	
The   John Hancock Tower
   200 Clarendon Street, 54th floor
   Boston, MA 02116
    
	
QVT   Fund LP
    	
 
    	
c/o QVT Financial LP
 1177 Avenue of the Americas
 9th Floor
 New York, NY 10036
    
	
Quintessence   Fund L.P.
    	
 
    	
c/o QVT Financial LP
 1177 Avenue of the Americas
 9th Floor
 New York, NY 10036
    

 

 

	
Hercules   Technology II, L.P.

    	
 
    	
400 Hamilton Ave, Suite 310
 Palo Alto, CA 94301
    
	
Avalon   Ventures VI, LP
    	
 
    	
1134   Kline St
   La Jolla, CA 92037
    
	
Avalon   Ventures VI, GP Fund, LLC
    	
 
    	
1134   Kline St
   La Jolla, CA 92037
    
	
Wylie   Vale

    	
 
    	
1643   Valdes Drive
   La Jolla, CA 92037
    
	
Tom   Maniatis
    	
 
    	
2828   Broadway
   Apartment 7E
   New York, NY 10025
    
	
Peter   Crisp

    	
 
    	
103   Horseshoe Rd.
   Mill Neck, NY 11765-1005
    
	
Mark   Ptashne
    	
 
    	
9   East 79th St.
   New York, NY 10075
    
	
David   Shaw

    	
 
    	
542   Black Point Rd..
   Scarborough, ME 04074
    
	
David   Molowa
    	
 
    	
1030 Wychwood Road
 Westfield, NJ 07090
    
	
The   Konrad Hans von Emster III and Elizabeth F. von Emster Revocable Trust Dated   January 18, 2005
    	
 
    	
1647 Ralston Ave
 Belmont, CA 94002
    
	
Paul   Walker
    	
 
    	
15 Cervantes Blvd, #306
 San Francisco, CA 94123
    
	
Vaughn   Kailian
    	
 
    	
1100 Fitzpatrick Lane, PO Box 70
 Bodega, CA 94922
    
	
Leon   Smith
    	
 
    	
39 Holton Lane
 Essex Fells, NJ 07021
    
	
Michael   Kassen 2003 GRAT
    	
 
    	
c/o Michael M. Kassen
 315 North Avenue
 Westport, CT 06880
    
	
Next   Chapter Holdings LP
    	
 
    	
c/o Mark R. Pattis
 600 Central Avenue,   Suite 205-210
 Highland Park, IL 80035
    
	
Ropart   Investments LLC
    	
 
    	
Attn: Peter Cawley
 One East Weaver Street
 Greenwich, CT 06831
    
	
UM   Multi-Strategy Fund
    	
 
    	
c/o Cadogen Management LLC
 Attn: Kyle Pickens
 149 Fifth Avenue, 15th Floor
 New York, NY 10010
    
	
Victor   Dzau
    	
 
    	
4006 Dover Road
 Durham, NC 27707
    
	
Valinco   Investments Limited
    	
 
    	
c/o Denlow Private Trustco Limited
 29 Middle Road
 Devonshire DV 06
 Bermuda
    
	
DGAM   Alternative Strategy Fund LP
    	
 
    	
Desjardins Global Asset Management
 Attn: Florent Salmon
 1 Complexe Desjardins, South Tower,   25th Floor
 Montreal, QC H5B 1B3
 Canada
    

 

 

	
DGAM   Alternative Strategy Fund II SPC CELL A
    	
 
    	
Desjardins Global Asset Management
 Attn: Florent Salmon
 1 Complexe Desjardins, South Tower,   25th Floor
 Montreal, QC H5B 1B3
 Canada
    
	
Citco   Global Custody (NA) N.V. as custodian for Absolutissimo-Cadogan
    	
 
    	
Attn: Chantel Winkel
    Schottegatweg Oost 44
    Curacao
    Netherlands Antilles
    
	
Alkermes, Inc.
    	
 
    	
852 Winter Street
 Waltham, MA 02451
    
	
Celgene   Corporation
    	
 
    	
86 Morris Avenue
 Summit, NJ 07901
    
	
MidCap   Financial, LLC
    	
 
    	
7735 Old Georgetown Road
 Suite 400
 Bethesda, MD 20814
 Attn: Bob Goodridge

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