Document:

EX-10.7

 Exhibit 10.7 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [****], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
 AMENDED AND RESTATED 

COLLABORATIVE LICENSE AGREEMENT 

This Amended and Restated Collaborative License Agreement (the “Agreement”) is entered into and made effective
as of October 10, 2014 (the “Amended and Restated Effective Date”), by and between Ambrx, Inc., a Delaware corporation (“Ambrx”) located at 10975 North
Torrey Pines Road, La Jolla, CA 92037, and The California Institute for Biomedical Research, a nonprofit public benefit corporation (“Institute”) located at 11119 North Torrey Pines Road, La Jolla, CA with respect to
the facts set forth below. Each of Ambrx and Institute shall be called a “Party” and collectively the “Parties.” 

RECITALS 
 A. Ambrx is a
biopharmaceutical company that has technology and expertise relating to the discovery and development using its proprietary technology of certain therapeutic biologics and polypeptide drug conjugates. 

B. Institute is engaged in research activities with the aim of translating scientific discoveries and novel targets into therapeutics with
proof of concept efficacy in relevant animal models. 
 C. Institute and Ambrx desire to collaborate on Collaboration Research Projects (as
defined below) to be conducted at the Institute to focus on novel molecular targets, polypeptide conjugates, and enabling technologies with a well-defined plan for advancing certain Ambrx Technology (as defined below) to Proof-of-Concept Studies (as defined below), subject to the terms and conditions set forth herein. 

D. In connection with such Collaboration Research Projects, Ambrx desires to grant to Institute, and Institute wishes to acquire, a non-exclusive research license to the Ambrx Technology in the Field and during the Research Program Term (each as defined below), subject to the terms and conditions set forth herein. 

E. In connection with such Collaboration Research Projects, Institute desires to grant to Ambrx, and Ambrx wishes to acquire, an exclusive
option to acquire a license to Inventions, Invention Patents, Institute Controlled IP and Information (each as defined below), subject to the terms and conditions set forth herein, and as summarized on Schedule C (attached hereto
and incorporated herein by reference). 
 F. In connection with the Grandfathered Research Projects (as defined below), and subject to the
Option (as defined below), Ambrx desires to grant to Institute, and Institute wishes to acquire, an exclusive option to acquire a license to Inventions, Invention Patents and Information, subject to the terms and conditions set forth herein, and as
summarized on Schedule C. 
 G. In connection with the Excluded Grandfathered Research Projects (as defined below and as shown
in Schedule A), Ambrx desires to grant to Institute, and Institute wishes to acquire, exclusive development and commercialization rights to inventions under such Excluded Grandfathered Research Projects and related Patents and
Information under such Excluded Grandfathered Research Projects, subject to the terms and conditions set forth herein. 

 H. The Parties desire to restate and amend the original Collaborative License Agreement (the
“Original Agreement”) that was entered into and made effective as of August 23, 2013 (the “Effective Date”), as set forth below. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the mutual covenants and conditions set forth herein, Ambrx and Institute hereby agree as follows: 
  

	1.	 Definitions. Capitalized terms shall have the meaning set forth below. 

 

	 	a.	 “Affiliate” means, with respect to a particular Party, a person, corporation,
partnership, or other entity that controls, is controlled by or is under common control with such Party. For the purposes of this definition, the word “control” (including, with correlative meaning, the terms “controlled by” or
“under the common control with”) means the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity, whether by the ownership of more
than fifty percent (50%) of the voting stock of such entity, or by contract or otherwise. 

  

	 	b.	 “Ambrx Change of Control” has the meaning set forth in
Section 12.3. 

  

	 	c.	 “Ambrx Know-How” means all Information
Controlled as of the Effective Date or thereafter during the Research Program Term by Ambrx and that (i) is necessary for the evaluation, research and/or development of Compounds in the Field, (ii) is Confidential Information at the time
of its use, and (iii) is specifically directed to a Compound. Ambrx Know-How includes all chemical, structural, manufacturing process, biological, pharmacological, toxicological, clinical, assay and other
methods of screening, structure activity relationship information or other information that relates to a Compound (including its composition, formulation or manufacture). Ambrx Know-How shall include Ambrx
Technology Inventions and shall exclude rights under any Ambrx Patents and Ambrx’s interest in any Joint Patents. 

  

	 	d.	 “Ambrx Materials” means all tangible materials in the possession and Control of Ambrx
prior to or as of the Effective Date or thereafter during the Research Program Term and that (a) are necessary for the evaluation, research and/or development of Compounds in the Field or (b) otherwise embody Ambrx Know-How. Ambrx Materials shall include cell lines (including research strains and production strains for the expression of Compounds, and corresponding host or control strains, and cell banks thereof), DNA
constructs, proteins, monoclonal antibodies and other materials necessary for the expression of Compounds, and tangible materials for use in assays necessary for the characterization of Compounds. Ambrx Materials that were transferred to Institute
prior to the Effective Date are listed on Exhibit A. In addition, Exhibit A sets forth Ambrx Materials that, as of the Effective Date, are contemplated to be transferred to Institute pursuant to Approved Research
Plans. 

  

	 	e.	 “Ambrx Patents” means the Patents owned or Controlled by Ambrx during the term of this
Agreement. 

  

	 	f.	 “Ambrx Technology” means the Ambrx Patents, Ambrx
Know-How and Ambrx Materials. 

  
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	 	g.	 “Ambrx Technology Invention(s)” means any potentially patentable or patented invention
conceived by or on behalf of one or both Parties and/or its Affiliates, employees, agents or independent contractors in the course of conducting its or their activities under an Approved Research Plan, in each case directed Specifically to Ambrx
Technology related to a) ReCode, b) EuCode, or c) Linker Technology (Ambrx Technology directed Specifically to a), b), and c) collectively referred to as “Non-Natural Amino Acid
Technology”), and shall include, without limitation, Joint Inventions, but shall specifically exclude Compound Inventions that are not directed Specifically to Non-Natural Amino Acid
Technology. For purposes of this definition: i) “ReCode” and “EuCode” mean the design, creation, modification and/or generation of Compounds through the incorporation, substitution or addition of one
or more non-naturally encoded amino acids (i.e., amino acids other than the 20 naturally-encoded amino acids) using orthogonal tRNA/aminoacyl-tRNA pairs, including
non-naturally encoded amino acids providing one or more points of site-specific attachment for a drug, into the amino acid sequence of the polypeptide comprising such Compounds; and ii) “Linker
Technology” means any technology in which a functional group, such as, but not limited to, a chemical, carbohydrate or polypeptide, is used to link or attach, by a covalent bond or otherwise, one or more drugs Specifically to a
polypeptide synthesized using ReCode or EuCode to form a polypeptide drug conjugate. As used herein, “directed Specifically” shall mean that the invention is a small molecule, protein, carbohydrate, nucleic
acid, cell, vector, etc., that is specially adapted for use with a non-natural amino acid, and not more generally with natural amino acids or other substrates such as small molecule ligands, proteins,
carbohydrates or nucleic acids. 

  

	 	h.	 “Approved Research Invention” means any potentially patentable or patented invention
conceived by or on behalf of one or both Parties and/or its Affiliates, employees, agents or independent contractors in the course of conducting its or their activities under an Approved Research Plan, other than a Compound Invention or an Ambrx
Technology Invention. 

  

	 	i.	 “Approved Research Plan(s)” means each of the Research Plans for the Grandfathered
Research Projects and such other Research Plans approved by the JSC and Ambrx, in each case as set forth in Section 4.2. 

 

	 	j.	 “Calendar Year” means each successive period of twelve (12) months commencing on
January 1 and ending on December 31. 

  

	 	k.	 “Collaboration Research Project(s)” means
pre-clinical lead generation research projects conducted pursuant to Approved Research Plans at the Facility using Ambrx Technology with Compounds for the purpose of advancing such Compounds to Proof of
Concept Studies. 

  

	 	l.	 “Compound(s)” means any therapeutic composition of matter conceived and/or demonstrated
to have utility or a new use under an Approved Research Plan. 

  

	 	m.	 “Compound Invention(s)” means any potentially patentable or patented invention
conceived by or on behalf of one or both Parties and/or its Affiliates, employees, agents or independent contractors in the course of conducting its or their activities under an Approved Research Plan directed to a Compound and shall include,
without limitation, Joint Inventions. 

  

	 	n.	 “Confidential Information” means, with respect to a Party, and subject to
Section 11, all non-public Information of such Party that is disclosed to the other Party under this

  
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Agreement, which may include specifications, know-how, trade secrets, technical information, models, business information, inventions, discoveries,
methods, procedures, formulae, protocols, techniques, data, and unpublished patent applications, whether disclosed in oral, written, graphic, or electronic form. 

  

	 	o.	 “Control” or “Controlled” means, with respect to any
material, Information, or intellectual property right, that a Party (i) owns such material, Information, or intellectual property right, or (ii) has a license or right to use such material, information, or intellectual property right, in
each case (i) or (ii) with the ability to grant to the other Party access, a right to use, or a license, or a sublicense (as applicable) to such material, Information, or intellectual property right on the terms and conditions set forth herein,
without violating the terms of any agreement or other arrangement with any Third Party in existence as of the time such Party would first be required hereunder to grant the other Party such access, right to use or (sub)license.

  

	 	p.	 “Excluded Grandfathered Research Project(s)” means those pre-clinical lead generation research projects that have been conducted by Institute prior to the Effective Date, a listing of which is attached hereto as Schedule A.  

 

	 	q.	 “Excluded GRP Invention” has the meaning set forth in
Section 6.3(a). 

  

	 	r.	 “Facility” means 11119 North Torrey Pines Road, Suite 100, La Jolla, California 92037
or such other facility utilized by the Institute with the prior written consent of Ambrx. 

  

	 	s.	 “Field” means evaluation, research and/or development (but only through the completion
of Proof of Concept Studies) of Compounds for human use (for clarity, not for human development, for other development activities occurring after completion of Proof of Concept Studies and/or for commercialization), unless otherwise agreed to
in writing by both parties. 

  

	 	t.	 “Grandfathered Research Projects” means those pre-clinical lead generation research projects that have been conducted by Institute prior to the Effective Date, a listing of which is attached hereto as Schedule B. 

 

	 	u.	 “Information” means any data, results, and information of any type whatsoever, in any
tangible or intangible form, including know-how, trade secrets, practices, techniques, methods, processes, inventions, developments, specifications, formulations, formulae, materials or compositions of matter
of any type or kind (patentable or otherwise), software, algorithms, marketing reports, expertise, stability, technology, test data including pharmacological, biological, chemical, biochemical, toxicological, and clinical test data, analytical and
quality control data, stability data, studies and procedures. 

  

	 	v.	 “Institute Controlled IP” has the meaning set forth in
Section 4.1. 

  

	 	w.	 “Institute Know-How” means all Information
Controlled as of the Effective Date or thereafter during the term of this Agreement by Institute and that (i) is necessary for the evaluation, research and/or development of Compounds in the Field; (ii) is Confidential Information at the
time of its use; and (iii) is specifically directed to a Compound. Institute Know-How includes all chemical, structural, manufacturing process, biological, pharmacological, toxicological, clinical, assay
and other methods of screening, structure 

  
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activity relationship information or other information that relate to a Compound (including its composition, formulation or manufacture). Institute
Know-How shall exclude rights under any Institute Patents and Institute’s interest in any Joint Patents. 

  

	 	x.	 “Institute Patents” means all Patents Controlled by Institute with claims covering
(i) Institute Know-How, (ii) a Compound Invention, or (iii) a Joint Invention. 

  

	 	y.	 “Institute Proposal” has the meaning set forth in
Section 6.2(a). 

  

	 	z.	 “Institute Technology” means the Institute Patents and Institute Know-How. 

  

	 	aa.	 “Invention(s)” means any (i) Compound Invention, (ii) Ambrx Technology
Invention or (iii) Approved Research Invention. 

  

	 	bb.	 “Invention Disclosure” means a disclosure of an Invention, including results from the
relevant completed Proof of Concept Study and related Information. 

  

	 	cc.	 “Invention Patents” means a Patent that claims an Invention. 

 

	 	dd.	 “Joint Inventions” has the meaning set forth in
Section 8.1. 

  

	 	ee.	 “Joint Steering Committee” or “JSC” has the meaning set forth
in Section 2.1. 

  

	 	ff.	 “Licensed Invention” means any Invention (i) licensed by Ambrx pursuant to the
exercise of an Option hereunder or (ii) licensed by Institute pursuant to an Institute Proposal. 

  

	 	gg.	 “Licensed Product” means any product or its manufacture, use or sale that is covered by
a Valid Claim of an Invention Patent(s) (i) licensed by Ambrx pursuant to the exercise of an Option hereunder or (ii) licensed by Institute pursuant to an Institute Proposal. 

 

	 	hh.	 “Net Sales” means the gross amount invoiced by Ambrx in connection with sales of
Licensed Products by Ambrx or its Affiliates to Third Parties (net of any inventory management fees or similar fees based on or reasonably allocable to the sale of Licensed Products), less the following deductions to the extent specifically related
to the Licensed Products: i) [***]; ii) [***]; iii) [***]; iv) [***]; v) [***]; vi) [***]; vii) [***]; viii) [***]; and ix) [***]. 

  

	 	ii.	 “Net Sublicense Revenue” means, as to a Party, (i) all cash payments, the cash
amounts received by Ambrx for any equity consideration (less the fair market value of such equity consideration), the cash amounts received by Institute for funding of its activities and forgivable loans (to the extent actually forgiven), in each
case, received by a Party or its Affiliates in consideration for a Sublicense, including any upfront payments, license maintenance fees, milestone payments, royalties or the like and (ii) Sublicensee equity received by a Party or its Affiliates
in consideration for a Sublicense (to the extent 

  
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transferable, provided that to the extent such equity is not transferable, such equity will be transferred to the other Party at the time it becomes transferable) less
(iii) any license or intellectual property payments or fees owed or paid by a Party to Third Parties for the intellectual property rights relating to research, development or commercialization of a Licensed Product
(including pursuant to the applicable Approved Research Plan under the applicable Collaboration Research Project), including, without limitation, pursuant to any Third Party in-license agreement. Net
Sublicense Revenue excludes: (a) [***]; (b) [***]; (c) [***]; and (d) [***]. It is understood that Net Sublicense Revenue shall not include amounts received in connection with a merger, consolidation or sale of all or
substantially all of the business or assets of Ambrx (including the business or assets of Ambrx to which this Agreement relates). 

  

	 	jj.	 “Option” shall have the meaning set forth in
Section 5.1(a). 

  

	 	kk.	 “Patent” means (i) all patents and patent applications, including provisional
patent applications, (ii) all patent applications filed either from such patents, patent applications or provisional applications or from an application claiming priority from any of these, including divisionals, continuations, continuations-in-part, converted provisionals, and continued prosecution applications, (iii) any and all patents that have issued or in the future issue from the
foregoing patent applications in (i) and (ii), including utility models, petty patents and design patents and certificates of invention, (iv) any and all extensions or restorations by existing or future extension or restoration mechanisms,
including adjustments, revalidations, reissues, re-examinations and extensions (including any supplementary protection certificates and the like) of the foregoing patents or patent applications in (i),
(ii) and (iii), and (v) any similar rights, including so-called pipeline protection, or any importation, revalidation, confirmation or introduction patent or registration patent or patents of
addition to any of such foregoing patent applications and patents. 

  

	 	ll.	 “Patent Prosecution Costs” means the direct out-of-pocket costs (including the reasonable fees (based on customary hourly rates) and expenses incurred to outside counsel and other Third Parties, including filing, prosecution and maintenance fees
incurred to governmental authorities) recorded as an expense by a Party or any of its Affiliates (in accordance with GAAP and its customary accounting practices) after the Effective Date and during the term of this Agreement and pursuant to this
Agreement, in connection with the Prosecution of Invention Patents, including costs of Invention Patent interference, appeal, opposition, reissue, reexamination, revocation, petitions or other administrative proceedings with respect to Invention
Patents and filing and registration fees. 

  

	 	mm.	 “Proof of Concept Studies” means the mutually agreed
pre-clinical trials under an Approved Research Plan occurring in animals with the goal of supporting the submission of an Invention Disclosure to Ambrx as set forth in
Section 4.5. 

  

	 	nn.	 “Prosecution” and “Prosecute” have the meaning set forth in
Section 8.2(a). 

  
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	 	oo.	 “Research Plan” has the meaning set forth in
Section 4.1. 

  

	 	pp.	 “Research Plan FTEs” means the equivalent of the work of one appropriately qualified
scientific employee of Institute working on a full-time basis in performing work in support of an Approved Research Plan based on a twelve (12) month period (consisting of at least a total of one thousand six hundred eighty (1,680) hours per
year of dedicated effort). 

  

	 	qq.	 “Research Program Term” has the meaning set forth in
Section 3.2. 

  

	 	rr.	 “[***]” means [***], or any successor entity. 

 

	 	ss.	 “Sublicense” means the grant to a Sublicensee of a sublicense under a Licensed
Invention or Licensed Product (including any extensions, amendments and restatements thereof), excluding a sublicense related to the conduct of clinical trials for a Licensed Product or the manufacture of a Licensed Product. 

 

	 	tt.	 “Sublicensee” means a Third Party to whom (i) Ambrx, an Affiliate of Ambrx, or
another Sublicensee grants a Sublicense or (ii) Institute, an Affiliate of Institute, or another Sublicensee grants a Sublicense. 

  

	 	uu.	 “Third Party(ies)” means an entity other than Ambrx or its Affiliates, and Institute
and its Affiliates. 

  

	 	vv.	 “Third Party Costs” means the out-of-pocket costs and expenses incurred or accrued by Institute with respect to payments made by Institute to Third Parties in conducting activities under an Approved Research Plan, and in accordance with
the budget for such Third Party Costs as agreed to by the JSC and set forth in the Approved Research Plan. Third Party Costs may include, for example, Research Plan-specific animals, but shall not include routine laboratory supplies.

  

	 	ww.	 “Valid Claim” means either (a) a claim of an issued and unexpired Invention Patent
which has not been held permanently revoked, unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction, unappealable or unappealed within the time allowed for appeal and that is not admitted to be
invalid or unenforceable through reissue, disclaimer or otherwise (i.e., only to the extent the subject matter is disclaimed or is sought to be deleted or amended through reissue), or (b) a claim of a pending Invention Patent application that
has not been abandoned, finally rejected or expired without the possibility of appeal or refiling, provided, however, that Valid Claim will exclude any such pending claim in an application that has not been granted within the later of
(A) seven (7) years following the earliest non-provisional priority filing date for such application and (B) five (5) years after receipt of the first office action in response to such
application, unless and until such claim is granted. 

  

	2.	 Governance of the Collaboration Research Projects 

2.1 Establishment of the JSC. Within thirty (30) days after the Effective Date, the Parties will establish a joint steering
committee with the roles set forth in Section 2.3 below (the “Joint Steering Committee” or “JSC”). The JSC shall hold its first
meeting promptly following its establishment and will review the status of the Grandfathered Research Projects. 

  
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 2.2 Membership of the JSC. The JSC will consist of three (3) individuals,
one appointed by the Chief Executive Officer of Ambrx (or if no such individual exists, appointed by the action of the Ambrx board of directors), one appointed by the Institute and one appointed by the mutual agreement of the Parties which
individual shall be unaffiliated with the Institute or Ambrx. Each Party may at any time appoint a different JSC representative by written notice to the other Party; however, the unaffiliated representative must be appointed by unanimous agreement
of Ambrx and Institute. The initial Ambrx representative shall be [***], the initial Institute representative shall be Peter Schultz, Ph.D. (“Schultz”) and the initial unaffiliated representative shall be [***], Ph.D.
The JSC shall be chaired by the Institute representative (initially, Schultz), who will be responsible for calling meetings and preparing and circulating an agenda in advance of each meeting, provided that the chairperson will call a meeting
of the JSC promptly upon the reasonable written request of Ambrx to convene such a meeting. 
 2.3 Role of the JSC. The JSC
will be responsible for oversight of the Collaboration Research Projects, including, but not limited to, (a) approving Research Plans for all Collaboration Research Projects prior to their submission to Ambrx pursuant to
Section 4.2, (b) approving day-to-day or tactical performance of the research activities that require changes and
updates to Approved Research Plans, (c) monitoring, reviewing and recording the progress of the Collaboration Research Projects, and (d) setting, and monitoring the spending against, the budget for Research Project costs, as set forth in
an Approved Research Plan. 
 2.4 JSC Meetings. The JSC will hold meetings at such times and places as Ambrx and Institute may
determine; provided, however, that the JSC will meet at least once every six months during the term of this Agreement. The meetings of the JSC need not be in person and may be by telephone or any other method determined by the JSC.
Each Party will bear its own costs associated with attending such meetings; provided, however, that the costs associated with the unaffiliated JSC member shall be borne equally by Ambrx and Institute. 

2.5 Decision-Making by the JSC. Decisions by the JSC shall be made by the agreement of at least two (2) of the three (3)
members of the JSC. 
 2.6 Limitations on Authority of the JSC. The JSC will have solely the roles and responsibilities
assigned to it in this Section 2. The JSC will have no authority to amend, modify or waive compliance with this Agreement. In addition, the JSC will have no authority to amend, modify or limit
Ambrx’s determination with respect to Research Plans (as set forth in Section 4.2(b) below). The JSC shall not have the authority to obligate Ambrx to incur expenses or
allocate resources to any Collaboration Research Project. 
  

	3.	 License Terms and Conditions 

3.1 Grant of Non-Exclusive License to Institute. Subject to the terms and conditions of
this Agreement, Ambrx hereby grants to Institute a non-exclusive research license to Ambrx Know-How and to Ambrx Materials and under Ambrx Patent Rights to perform
activities under Approved Research Plans in the Field during the Research Program Term. The non-exclusive research license granted under this Agreement may only be utilized at the Facility and may only be
utilized in furtherance of a Collaboration Research Project, as set forth in an Approved Research Plan. Notwithstanding anything to the contrary, the research license granted pursuant to this
Section 3.1 with respect to “activities under Approved Research Plans” shall not include the right to engineer, reverse engineer, extract or modify the Ambrx Technology
except to the extent as may be expressly set forth in and conducted under an Approved Research Plan. 

  
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 3.2 Research Program Term. The term pursuant to which Institute may exercise
the research license granted under Section 3.1 (the “Research Program Term”) shall begin on the Effective Date and end eighteen (18) months thereafter
(subject to extension or termination as described below). The Research Program Term shall terminate: (i) if this Agreement is terminated by Ambrx under Section 12.2 or
Section 12.3, on the effective date of such termination; or (ii) pursuant to Section 4.4(b). In addition, the Research Program Term may be
extended upon mutual agreement of the Parties following receipt of written notice from a Party of its desire to extend the Research Program Term for a mutually agreed upon period of time, such notice to be given at least ninety (90) days prior
to the termination of the then-existing Research Program Term. 
 3.3 No Rights to Sublicense. The non-exclusive research license granted under Section 3.1 may not be sublicensed, assigned or otherwise transferred by Institute without the prior
written consent of Ambrx. 
 3.4 Material Transfer. 

 

	 	a.	 Ambrx may provide Institute with Ambrx Materials pursuant to an Approved Research Plan. 

 

	 	b.	 If Institute desires to acquire Ambrx Materials other than in connection with an Approved Research Plan, it
must submit a written request which includes the specific Ambrx Materials requested and their intended use, which request may be granted or denied in the sole discretion of the Chief Executive Officer of Ambrx. Any such request which is granted must
be in the form of written permission from the Chief Executive Officer of Ambrx for it to be effective. For clarity, Ambrx may provide Institute with Ambrx Materials in its sole discretion if requested for a purpose other than in connection with an
Approved Research Plan. 

  

	 	c.	 Institute will use the Ambrx Materials solely in the Field at the Facility and will not distribute, release or
transfer the Ambrx Materials to any Third Party (including to anyone who is not an employee of Institute) or to any location other than the Facility. Institute represents that all employees to whom the Ambrx Materials are distributed, released or
transferred are bound by a written agreement to use the Ambrx Materials only as expressly permitted by this Agreement, and, by assignment obligations as are appropriate to effect the ownership provisions of this Agreement. 

 

	 	d.	 Institute recognizes that the Ambrx Materials are experimental in nature and that they are being provided
“as is”. AMBRX MAKES NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE AMBRX MATERIALS AND EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR USE. 

 

	 	e.	 At the request of Ambrx, Institute will return or destroy any Ambrx Materials in its possession.

 3.5 Grant of Licenses to Ambrx. Institute hereby grants to Ambrx the following licenses:

  

	 	a.	 a perpetual, irrevocable, worldwide, non-exclusive license for internal
research purposes only under (i) Compound Inventions, (ii) Invention Patents with claims covering Compound Inventions, and (iii) Institute Technology, each with no right to grant a Sublicense, except

  
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that internal research shall include the right to Sublicense to bona fide collaborators and contractors solely for use in a research collaboration (which, for the avoidance of doubt, shall not
include any right to conduct human clinical trials); 

  

	 	b.	 a perpetual, irrevocable, worldwide, non-exclusive license for internal
research purposes only under (i) Approved Research Inventions and (ii) Invention Patents with claims covering such Approved Research Inventions, each with no right to grant a Sublicense, except that internal research shall include the
right to Sublicense to bona fide collaborators and contractors solely for use in a research collaboration (which, for the avoidance of doubt, shall not include any right to conduct human clinical trials); and 

 

	 	c.	 a perpetual, irrevocable, worldwide, exclusive license, with the right to grant a Sublicense, for all uses
under (i) Ambrx Technology Inventions and (ii) Invention Patents with claims covering Ambrx Technology Inventions, but excluding Compound Inventions and Invention Patents with claims covering Compound Inventions. 

3.6 [***] License Agreement with Institute. Prior to the Effective Date, Institute entered into an agreement with
[***] (“[***] Agreement”) that permits Institute to grant to Ambrx an exclusive worldwide license to research, develop, commercialize and further sublicense Know-How and
Patents covering each of the Grandfathered Research Projects without the payment by Ambrx directly to [***] of any consideration for such exclusive license (it being understood that Institute will share with [***] a portion of any revenues it
receives from Ambrx under this Agreement). A complete, unredacted copy of the [***] Agreement has been provided to Ambrx’s counsel prior to the Effective Date. One or more of the Grandfathered Research Projects may be included as a proposed
Collaboration Research Project under this Agreement, subject to compliance with Article 4. 
 3.7 Rights to Linker
Technology. It is understood and agreed by the Parties that each Party shall be free to exploit, without obligation to any other Party, any Linker Technology that is not included within the definition of an Ambrx Technology Invention and is
not otherwise proprietary to the other Party (for example, included within the other Party’s know-how or patent rights that are not licensed under or pursuant to this Agreement). 

3.8 Reservation of Rights. Except for the rights expressly granted under this Agreement, no right, title, or interest of
any nature whatsoever is granted whether by implication, estoppel, reliance, or otherwise, by a Party to the other Party. All rights with respect to Information, Patents or other intellectual property rights that are not specifically granted herein
are reserved to the owner thereof. 
  

	4.	 Collaboration Research Projects 

4.1 Research Plans. Each Collaboration Research Project will be carried out in accordance with a written research plan (each, a
“Research Plan”), prepared by Institute or Ambrx and submitted to the JSC for its initial review and approval and then submitted to Ambrx for its review and approval prior to initiation of the applicable Collaboration
Research Project; provided, that a Research Plan for each Grandfathered Research Project will be presented by Institute for consideration by the JSC at its first scheduled meeting and thereafter by Ambrx as set forth in
Section 4.2. Each Research Plan will provide details for the applicable Collaboration Research Project related to (i) background of such Collaboration Research Project, (ii) the proposed
scientific approach to be used in such Collaboration Research Project, (iii) target disease and target Compound profile, (iv) the scope and nature of the activities to be pursued in such Collaboration

  
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Research Project (including the number of FTEs to be allocated by Institute), (v) the Ambrx Technology to be used in such Collaboration Research Project, (vi) the Institute Technology
or other Institute Controlled intellectual property to be used in such Collaboration Research Project (the “Institute Controlled IP”), (vii) any Third Party intellectual property to be used in such Collaboration
Research Project and (viii) a mutually acceptable Proof of Concept Study for such Collaboration Research Project based on the target compound profile. Each Research Plan will also provide sufficient detail with respect to the contemplated
activities to be performed, the projected timelines and budget to permit the JSC and Ambrx to analyze the proposed Collaboration Research Project. Each Research Plan will also set forth minimum performance criteria for the applicable Collaboration
Research Project. To ensure the intent of the Parties hereunder with respect to ownership of Inventions, without the prior written consent of Ambrx and Institute, a) no Research Plan shall provide for Third Party funding of Research Plan activities,
and b) no Third Party intellectual property shall be used in any Research Plan activities. 
 4.2 Approval of Research
Plans. 
  

	 	a.	 The Research Plans for the Grandfathered Research Projects will be presented by Institute for consideration by
the JSC at its first scheduled meeting. The JSC shall promptly approve or reject Research Plans as set forth in Section 2.3(a). In addition, the JSC shall approve or reject
any day-to-day or tactical performance of the research activities that require changes or updates to each Approved Research Plan as set forth in
Section 2.3(b). 

  

	 	b.	 Institute shall provide to Ambrx, within thirty (30) days following the approval of the applicable
Research Plan by the JSC, such JSC-approved Research Plan, including the identification of any Institute Controlled IP or Third Party Controlled intellectual property to be used in the Research Plan. Ambrx
shall have thirty (30) days following receipt of such Research Plan to review such Research Plan and shall have the right to reject such Research Plan or withhold access to the Ambrx Technology proposed to be used in such Research Plan if:
(i) Ambrx reasonably determines the applicable Proof of Concept Study is inappropriate for the proposed indication listed in the Research Plan when compared against other research projects or programs for the same or similar indications;
(ii) Ambrx reasonably determines the Research Plan and associated Collaboration Research Project is competitive with current or anticipated Ambrx projects (whether conducted or to be conducted on behalf of itself or a Third Party); or
(iii) the Ambrx CEO, or in the absence of a CEO, a majority of the Ambrx board of directors (excluding any member of the Ambrx board of directors having a conflict of interest with respect to such determination), determines to reject such
Research Plan or withhold access to the applicable Ambrx Technology, which the CEO (or Ambrx board of directors, as applicable) may determine in his/her (or its) sole discretion. A determination by Ambrx that the Research Plan falls within (i),
(ii) or (iii) above and whether Ambrx is rejecting the Research Plan in its entirety (in which case, for clarity, the license grant under Section 3.1 shall not be
applicable to such Research Plan and Institute shall not use any Ambrx funding provided hereunder in connection with further activities on such rejected Research Plan) or with respect to specified Ambrx Technology (in which case, for clarity, such
Ambrx Technology shall not be included in the license grant under Section 3.1 for the associated Research Plan) shall be provided in writing to Institute within the thirty (30)-day Ambrx review period and shall include such information to substantiate the determination as is reasonably necessary. 

 

	 	c.	 If Ambrx rejects the Research Plan with respect to specified Ambrx Technology (and does not reject the Research
Plan in its entirety), the Research Plan shall constitute an “Approved 

  
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Research Plan” in all aspects other than the Ambrx Technology rejected pursuant to Section 4.2(b)(iii).

 4.3 Amendment of Approved Research Plans. An Approved Research Plan may only be amended by
following the procedure set forth in Section 4.2 with respect to the proposed changes and/or updates, unless such proposed changes and/or updates are simply day-to-day or tactical changes or updates in which case the JSC may approve them. 

4.4 Conduct of Collaboration Research Projects. 

 

	 	a.	 The Parties intend that one or more of the Collaboration Research Projects are to be initiated on or about
thirty (30) days following the first meeting of the JSC, and that multiple Collaboration Research Projects will be ongoing at any given time during the Research Program Term. 

 

	 	b.	 Institute agrees that its activities under the Collaboration Research Projects shall be conducted by or under
the direct supervision of Peter Schultz, Ph.D. (“Schultz”). In the event that Schultz leaves Institute, or terminates his involvement with the Institute or a particular Collaboration Research Project, Institute shall
promptly notify Ambrx of such event. Thereafter Ambrx shall have a right to immediately terminate the Research Program Term upon delivery to Institute of written notice of intent to terminate pursuant to this
Section 4.4(b), which notice must be delivered to Institute not more than ninety (90) days after receipt by Ambrx of Institute’s notification. 

 

	 	c.	 Institute shall perform, and shall use reasonable efforts to ensure that its employees perform, its activities
with respect to the Collaboration Research Projects in good scientific manner, and in compliance in all material respects with the requirements of applicable law. Institute shall commit sufficient Research Plan FTEs to each Collaboration Research
Project to permit the timely completion of each Collaboration Research Project as set forth in the applicable Approved Research Plan. 

  

	 	d.	 Institute may not retain Third Parties (including, but not limited to, consultants or agents) to perform any
activities for a Collaboration Research Project without the prior written consent of Ambrx. 

  

	 	e.	 Upon the written request of the Institute, Ambrx (directly or indirectly) may in its sole discretion,
(i) with respect to an Approved Research Plan, (A) assist the Institute in certain activities (specifically for the advancement of the applicable Collaboration Research Project up to the applicable Proof of Concept Study (by way of
example, but not limitation, activities such as protein production, purification and analytics)); (B) validate, consider and develop Inventions after the applicable Proof of Concept Study; (C) assist the Institute in efforts to generate stable
cell lines based on Ambrx Materials; or (ii) with respect to an approved Institute Proposal, assist the Institute in connection with its activities under such Institute Proposal. The fully burdened costs associated with Ambrx activities under
subsections (i)(A), (i)(B) and (i)(C) incurred following the Effective Date will be borne entirely by Ambrx. Institute will reimburse Ambrx for its then-current fully-burdened FTE rate in connection with Ambrx activities requested by Institute under
subsection (ii). It is acknowledged and agreed by the Parties that any assistance provided by Ambrx to Institute pursuant to this Section 4.4(e) involves intensive activities and in the event of a high

  
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workload at Ambrx, Ambrx shall retain sole discretion to prioritize projects accordingly and may determine to discontinue any assistance under this
Section 4.4(e) or to not initiate any such assistance. 

 4.5
Invention Disclosures; Joint Inventions; Approved Research Inventions. 
  

	 	a.	 As soon as reasonably possible following the completion of the related Proof of Concept Study, but in no event
later than thirty (30) days thereafter, Institute shall provide a written Invention Disclosure describing all Inventions related to the Collaboration Research Project associated with the Proof of Concept Study to Ambrx. Any such Invention
Disclosure shall contain sufficient detail (as it is available to Institute) to enable Ambrx to evaluate the advisability of exercising the Option with respect to the related Inventions and to comply with the terms of the license granted to it under
Institute Technology pursuant to Section 3.5(a)(iii). 

  

	 	b.	 As soon as reasonably possible, either upon conception or reduction to practice, as the case may be, of each
Joint Invention, Ambrx shall disclose the same in writing to Institute. Such disclosure shall contain sufficient detail to enable Institute to evaluate whether such Invention is, in fact, within the definition of a Joint Invention. If Institute, in
the exercise of its good faith discretion, believes that all or some of such Information as so described by Ambrx does not fall within the definition of a Joint Invention, then Institute shall deliver to Ambrx a written notice identifying the
Invention(s) which Institute does not believe are Joint Invention(s) within thirty (30) days of receipt of the Invention Disclosure from Ambrx. Failure to deliver such a written notice within the thirty
(30)-day period shall be deemed to be an acknowledgement by Institute that such Invention(s) is a Joint Invention(s). Any dispute related to whether an Invention constitutes Joint Invention(s) shall be
resolved as set forth in Sections 14.2, 14.3 and 14.4. 

 

	 	c.	 If Ambrx decides to not exercise the Option for the exclusive license under Institute’s ownership interest
in an Invention Patent for a Joint Invention, then (i) both Institute and Ambrx shall jointly own such Invention Patent(s); and (ii) notwithstanding the foregoing, Institute and Ambrx hereby covenant and agree that, unless the other Party
consents in writing, they each shall practice such Invention Patent solely in the Field and neither shall license or Sublicense rights to any such Invention Patent without the other Party’s prior written consent (unless Ambrx has previously
exercised an Option for such Invention Patent). Except as set forth in this Section 4.5(c) , Ambrx shall be the only Party that may grant a commercial license or Sublicense to any Invention Patent for a
Joint Invention to a Third Party, and only pursuant to the exclusive license granted to Ambrx under Section 3.5(c) or following the exercise of the Option hereunder. Joint ownership
of a Joint Invention shall not include a license grant of any related or underlying technology or Patents, unless specifically set forth in Section 3.5(c) or in a separate license
agreement between the Parties. 

  

	5.	 Option 

5.1 Grant of Option. 
  

	 	a.	 Subject to the terms of this Agreement, Institute hereby grants to Ambrx an exclusive option (each, an
“Option”) to acquire (i) an exclusive worldwide license (or sublicense, as the case may be) to Inventions and Invention Patents, with an exclusive right to grant Sublicenses, for

  
 Page 13 

	 	
all uses and (ii) a non-exclusive worldwide license (or sublicense, as the case may be) to related Information and Institute Controlled IP, with a
right to grant Sublicenses, for all uses. Each such license shall be to the Inventions, Invention Patents and Institute Controlled IP disclosed under the Invention Disclosures associated with a specific Collaboration Research Project, as more
particularly described in the Invention Disclosures (Section 4.5). Such Option shall be for the period (Section 5.2) and
exercised (Section 5.3) as more particularly described below. For clarity, Excluded GRP Inventions are excluded and shall not be subject to the Option described in this
Article 5. 

 5.2 Option Period. 

 

	 	a.	 Subject to extension as set forth in
Section 5.2(b), Ambrx shall have a period of [***] ([***]) days from the later of (i) delivery by Institute of a written Invention Disclosure pursuant to
Section 4.5(a) and (ii) receipt of a data package requested by Ambrx (within thirty (30) days of receipt of the Invention Disclosure) with respect to the Invention, containing all data
relevant to Ambrx’s decision to exercise the Option and reasonably available to Institute, including, without limitation, materials, assays, reagents and protocols that may reasonably be requested and Information from the related Proof of
Concept Study (each, as the same may be extended pursuant to Section 5.2(b), an “Option Period”) to consider and/or validate the Invention Data Packages which may include
reasonably and promptly recapitulating the experimental results using materials provided by the Institute or produced and characterized at Ambrx, in animal models conducted at Ambrx or under the direct supervision of an Ambrx scientist. The
disclosures to be delivered to Ambrx under (ii) above shall be referred to herein as “Invention Data Packages.” 

  

	 	b.	 Ambrx is obligated to consider and/or validate [***] ([***]) Invention Data Packages in each Calendar Year
(whether or not the Invention Data Package is new or carried-over from the prior Calendar Year). If Ambrx has considered and validated [***] ([***]) Invention Data Packages disclosing Inventions in the applicable Calendar Year, the Option Period
with respect to an additional Invention Data Package shall automatically be extended through the end of the following Calendar Year (with multiple extensions of a single Option Period possible and with extensions beyond the Research Program Term
and/or term of this Agreement possible). In addition, an Option Period may be extended upon mutual written agreement of Institute and Ambrx. 

5.3 Exercise of Option. 
  

	 	a.	 Ambrx shall deliver to Institute written notice (each, an “Option Notice”)
within the Option Period specifying the particular Invention, Invention Patent and related Information, if any, described in the applicable Invention Disclosure and Invention Data Package and the Institute Controlled IP associated with such
Invention Data Package (collectively, the “Option IP”), and shall state whether Ambrx is exercising the Option or not with respect to the particular Option IP. 

 

	 	b.	 If Ambrx determines to exercise an Option with respect to particular Option IP, Ambrx shall have (i) a
perpetual, irrevocable, exclusive (even as to Institute) license (or sublicense, as the case may be), with the right to grant a Sublicense, under the particular Invention Patent(s), if any, to research, develop, make, have made, use, sell, offer for
sale, export and import the applicable Licensed Products for all uses throughout the world; (ii) a perpetual, irrevocable, 

  
 Page 14 

	 	
non-exclusive license (or sublicense, as the case may be), with the right to grant a Sublicense, under Patents included within the Institute Controlled IP
to research, develop, make, have made, use, sell, offer for sale, export and import the applicable Licensed Products for all uses throughout the world; and (iii) a perpetual, irrevocable, non-exclusive
license (or sublicense, as the case may be), with the right to grant a Sublicense, under Information directly related to such Invention Patents and Know-How included within the Institute Controlled IP to
research, develop, make, have made, use, sell, offer for sale, export and import the applicable Licensed Products for all uses throughout the world. Ambrx shall commit to pursue or have pursued products or services covered by Invention Patents
licensed to Ambrx using commercially reasonable efforts, and the Parties shall, upon the exercise of an Option, develop reasonable and specific milestones relevant to a Licensed Product(s), such milestones to be met by Ambrx, its Affiliates or its
Sublicensee(s) to continue the license thereunder. Such milestones may include, for example, investment requirements and timelines for major regulatory and commercialization milestones. In addition, if Ambrx determines to exercise an Option with
respect to Option IP described in an applicable Invention Disclosure and Invention Data Package arising out of a Grandfathered Research Project, Ambrx shall reimburse Institute the fully burdened expenses incurred by Institute for such Grandfathered
Research Project from inception to date that the work plan for the Grandfathered Research Project was approved by Ambrx at an FTE rate of [***] ([***]), provided such expenses don’t exceed [***] ([***]) per project, within thirty (30) days
of the exercise of such an Option. It is understood and agreed that following the exercise of an Option hereunder, Ambrx (or its Sublicensees) shall be the exclusive Party to develop and/or commercialize the applicable Invention Patents and related
Information, either itself or pursuant to a Sublicense. 

  

	 	c.	 If Ambrx exercises an Option with respect to particular Option IP and subsequently or concurrently determines
to Sublicense such Option IP, it shall deliver to Institute written notice of its determination to Sublicense (each, a “Sublicense Notice”). 

 

	 	d.	 If Ambrx determines not to exercise an Option with respect to particular Option IP as set forth in the
applicable Option Notice, the Option Notice shall so state. For clarity, the license grant set forth in Section 3.1 shall not cover the particular Option IP for which Ambrx has determined not to
exercise its Option and Institute hereby covenants and agrees that no funding provided by Ambrx hereunder shall be used by Institute if it determines to further pursue such rejected Option IP. Institute is free to pursue the rejected Option IP with non-Ambrx Technology and non-Ambrx Materials and its own funding. 

  

	6.	 Ongoing Development of Inventions 

6.1 Research and Development of Inventions by Ambrx. Following exercise of the Option with respect to particular Invention
Patent(s) and related Information, if any, Ambrx shall have exclusive control over the research, development and/or commercialization activities associated with such Invention Patent(s), and shall be exclusively responsible for all associated
research, development and commercialization expenses incurred by or on its behalf. In addition, following exercise of the Option with respect to particular Invention Patent(s) and related Information, if any, Ambrx shall reimburse Institute for its
Patent Prosecution Costs as set forth in Section 8.2(a). 
 6.2
Research and Development of Inventions by Institute. If Institute desires to further develop or have developed an Invention, then: 

  
 Page 15 

	 	a.	 If (i) the Option Period has expired and the Invention has not been exclusively licensed to Ambrx pursuant
to Section 5 above or (ii) the Invention has been exclusively licensed to Ambrx, and Ambrx (or any of its Affiliates) is not actively developing or is not actively
out-licensing (or has not previously out-licensed) such Invention, the Institute may present Ambrx with a proposal for the ongoing development and commercialization of
such Invention (the “Institute Proposal”). Any such Institute Proposal shall contain such information as is available to Institute and reasonably necessary for Ambrx to evaluate the Institute Proposal, including,
without limitation, (w) an overview of the intended development activities, (x) the projected commercial opportunity, (y) activities that Institute would assign to Ambrx, if any, and (z) commercial terms commensurate with the
proposed development and commercialization. 

  

	 	b.	 Within sixty (60) days of receipt of all requested information related to the Institute Proposal, the CEO
of Ambrx, or in the absence of a CEO, a subcommittee of the Ambrx board of directors, to be chaired by a member of such subcommittee selected by a majority vote of disinterested members of the Ambrx board of directors (the “Ambrx
Subcommittee”), shall review and reasonably consider the Institute Proposal. If the Ambrx CEO or Ambrx Subcommittee desires to proceed with the Institute Proposal, it shall oversee the negotiation and documentation of a license
agreement between Ambrx and Institute containing mutually acceptable terms and conditions, including financial terms, which shall include, without limitation, (i) a prohibition on Institute commercializing the Invention in any manner other than
by way of a Sublicense to a Third Party on arms-length, commercially reasonable terms, (ii) Institute shall commit to pursue or have pursued products or services covered by Invention Patents licensed to Institute using commercially reasonable
efforts, and (iii) the Parties shall develop reasonable and specific milestones relevant to a Licensed Product(s), such milestones to be met by Institute’s Sublicensee(s) to continue the license thereunder. Such milestones may include, for
example, reasonable investment requirements and timelines for major regulatory and commercialization milestones. In addition, the licenses granted under such license agreement may not be practiced directly by Institute or any of its Affiliates and
Institute may only commercialize the Invention by way of a Sublicense to a Third Party on arms-length, commercially reasonable terms.. It is the intent of the Parties that the review by Ambrx and the negotiation and documentation of a license
agreement take place within the sixty (60)-day period, unless mutually extended by the Parties. Once a license agreement between Ambrx and Institute is negotiated, the determination to proceed with the
Institute Proposal (or not) under such license agreement shall be made by the Ambrx CEO or Ambrx Subcommittee in his/its sole discretion. 

  

	 	c.	 In the event that Ambrx determines not to proceed with an Institute Proposal, and the development of the
relevant Invention would require a license from Ambrx with respect to Ambrx Technology, Institute may not develop the relevant Invention beyond animal proof of concept studies or commercialize such Invention without any such required licenses from
Ambrx with respect to the Ambrx Technology. In addition, Institute hereby covenants and agrees that no funding provided by Ambrx hereunder shall be used by Institute if it determines to further pursue such rejected Institute Proposal. Institute is
free to pursue the rejected Institute Proposal with non-Ambrx Technology and non-Ambrx Materials and its own funding. 

  
 Page 16 

 6.3 Research and Development Under Excluded Grandfathered Research Projects by
Institute.  
  

	 	a.	 If Institute desires to develop in human clinical trials and/or thereafter commercialize the inventions
consisting of therapeutic compositions of matter for compounds demonstrated to have utility or a new use under an Excluded Grandfathered Research Project with respect to the applicable target studied under such Excluded Grandfathered Research
Project (i.e., actually made and tested under such Excluded Grandfathered Research Project) (with respect to each Excluded Grandfathered Research Project (e.g., target), the “Excluded GRP
Inventions”) during the period beginning on August 23rd, 2013 and ending on the earlier of (a) October
10th, 2017 or (b) the initiation of GLP/IND-enabling studies with respect to each Excluded GRP Invention (the “Excluded GRP Invention
Option Period”), it shall provide written notice to Ambrx of such desire which shall include the applicable target and compositions of matter information related to such Excluded GRP Inventions (each, an
“Excluded GRP Invention Notice”). Upon Ambrx’s receipt of an Excluded GRP Invention Notice prior to the expiration of the Excluded GRP Invention Option Period, Institute shall
automatically, without any action on the part of Ambrx, be granted the following licenses: (i) a perpetual, irrevocable, worldwide, exclusive (even as to Ambrx) license (or sublicense, as the case may be), with the right to grant a Sublicense,
under Ambrx Patents, if any, with Valid Claims covering the Excluded GRP Inventions described in the applicable Excluded GRP Invention Notice to research, develop, make, have made, use, sell, offer for sale, export and import such Excluded GRP
Inventions for all uses; and (ii) a perpetual, irrevocable, worldwide, non-exclusive license (or sublicense, as the case may be), with the right to grant a Sublicense, under Information directly related
to such Ambrx Patents to research, develop, make, have made, use, sell, offer for sale, export and import such Excluded GRP Inventions for all uses. Upon the grant of the licenses under this
Section 6.3(a) Institute shall be the exclusive Party to develop and/or commercialize the Excluded GRP Inventions and solely by means of a Sublicense to a Third Party; provided that such
Third Party Sublicensee may not be a pharmaceutical company with headquarters in the People’s Republic of China, unless Ambrx has provided its prior written consent, which may be withheld in its sole discretion. The licenses granted under this
Section 6.3(a) may not be practiced directly by Institute or any of its Affiliates and Institute may only commercialize the Excluded GRP Inventions by way of a Sublicense to such a Third
Party on arms-length, commercially reasonable terms. Institute shall ensure that any such Excluded GRP Inventions licensed hereunder are pursued using commercially reasonable efforts, and all rights to the licensed Excluded GRP Inventions shall
revert to Institute in the event of the failure of a Third Party sublicensee to use commercially reasonable efforts in the development and/or commercialization of the Excluded GRP Inventions (in addition to upon the occurrence of other agreed-upon
termination events). The Parties shall develop reasonable and specific milestones relevant to the Excluded GRP Inventions, such milestones to be met by Institute’s Sublicensee(s) to continue the license thereunder. Such milestones may include,
for example, investment requirements and timelines for major regulatory and commercialization milestones. Institute shall also pay to Ambrx [***] of any Net Sublicense Revenue as set forth in
Section 7.2. The Parties shall negotiate in good faith and enter into a license agreement setting forth the terms contained in this
Section 6.3(a), and other customary terms and conditions. 

  

	 	b.	 If Institute does not deliver one or more Excluded GRP Invention Notices prior to the expiration of the
Excluded GRP Option Period, then all Excluded GRP Inventions under the Excluded Grandfathered Research Projects shall automatically become an Invention and 

  
 Page 17 

	 	
Institute shall promptly thereafter provide an Invention Disclosure to Ambrx for any such Invention. For clarity, if the Excluded GRP Option Period expires without the delivery of an Excluded GRP
Invention Notice, all Excluded GRP Inventions shall be subject to the Option process set forth in Section 5. 

  

	 	c.	 If, however, Institute has delivered one or more Excluded GRP Invention Notices, then: (i) upon delivery
of an Excluded GRP Invention Notice, any Excluded GRP Inventions for the target referenced in the Excluded GRP Invention Notice but which have not been described in such Excluded GRP Invention Notice shall automatically become Inventions and
Institute shall promptly after the delivery of the Excluded GRP Invention Notice provide Invention Disclosures to Ambrx for any such Inventions not described; and (ii) on expiration of the Excluded GRP Option Period, any Excluded GRP Inventions
not previously licensed to Institute under Section 6.3(a) shall automatically become Inventions and Institute shall promptly after the expiration of the Excluded GRP Option Period provide Invention
Disclosures to Ambrx for any such Inventions. For clarity, all Excluded GRP Inventions which have not been described in an Excluded GRP Invention Notice or licensed to Institute under Section 6.3(a)
shall be subject to the Option process set forth in Section 5. 

  

	7.	 Payments 

7.1 Research Program Costs. Within five (5) days of the Effective Date, Ambrx will pay to Institute an
amount equal to [***] as payment in advance for Institute’s activities pursuant to Approved Research Plans in the first partial calendar quarter following the Effective Date. Thereafter during the Research Program Term, Ambrx will make
quarterly payments in advance to Institute of [***] ([***]) on or before each October 1, January 1, April 1 and July 1 that occurs during the Research Program Term in consideration of Institute’s
activities pursuant to Approved Research Plans (each a “Research Funding Payment”); provided, however, the last payment made pursuant to this Section 7.1 shall be pro-rated to take into account the number
of days in the last partial calendar quarter included in the Research Program Term. 
 7.2 Net Sublicense Revenue. 

 

	 	a.	 Ambrx shall pay to Institute [***] ([***]) of any Net Sublicense Revenue resulting from Sublicenses executed by
Ambrx or its Affiliates. 

  

	 	b.	 Institute shall pay to Ambrx [***] ([***]) of any Net Sublicense Revenue resulting from Sublicenses executed by
Institute or its Affiliates of a Licensed Invention and/or Licensed Product arising from the [***] Excluded Grandfathered Research Project. Institute shall pay to Ambrx [***] ([***]) of any Net Sublicense Revenue resulting from Sublicenses executed
by Institute or its Affiliates arising from the [***] Excluded Grandfathered Research Project. For all other Sublicenses executed by Institute or any Affiliates under the licenses granted to Institute under Section 6.3, Institute shall pay to
Ambrx [***] ([***]) of any Net Sublicense Revenue resulting from such Sublicenses. 

  

	 	c.	 Any payments due under this Section 7.2 shall be made
within ninety (90) days of receipt of the Net Sublicense Revenue by the applicable Party. 

  
 Page 18 

 7.3 Royalties. 

 

	 	a.	 General. Subject to the other provisions of this
Section 7.3 and the other provisions of this Agreement, in consideration of the licenses granted by Institute to Ambrx pursuant to its exercise of the Option, if Ambrx (or its Affiliates) commercializes
a Licensed Product without a Sublicensee, Ambrx shall pay to Institute royalties of [***] ([***]) of Net Sales of such Licensed Product during the applicable Royalty Term (as defined in subsection (c) below) for such Licensed
Product. 

  

	 	b.	 One Royalty. For clarity, only one royalty shall be due to Institute with respect to the same unit of
Licensed Product, regardless of the number of Licensed Inventions contained therein. 

  

	 	c.	 Royalty Term. Royalties payable by Ambrx to Institute under
Section 7.3 shall be paid on an Licensed Product-by-Licensed Product and country-by-country basis until the later of (i) 10 years after first commercial sale of the applicable Licensed Product in such country, and (ii) expiration in such
country of the last Valid Claim of the last-to-expire Licensed Invention with claims that cover such Licensed Product (the “Royalty
Term”). Upon the expiration of the Royalty Term with respect to a Licensed Product in a country, Ambrx shall have a fully-paid-up perpetual license under
Section 5.3(b) for the making, using, selling, offering for sale and importing of such Licensed Product in such country. 

 

	 	d.	 Royalty Payments and Reports. All amounts payable to Institute pursuant to
Section 7.3 shall be paid within ninety (90) days after the end of the calendar quarter in which the applicable Net Sales were invoiced. Each payment of royalties shall be
accompanied by a royalty report providing a statement, on an Licensed Product-by-Licensed Product and
country-by-country basis, of: (a) the amount of gross sales invoiced during the applicable calendar quarter, (b) the amount of deductions from gross sales
taken in calculating Net Sales during the applicable calendar quarter, (c) the amount of Net Sales during the applicable calendar quarter, (d) a calculation of the amount of royalty payment due in U.S. dollars on such Net Sales for such
calendar quarter, and (e) the amount of withholding taxes, if any, required by applicable law to be deducted with respect to such royalties. 

7.4 Miscellaneous Payment Terms.  
  

	 	a.	 Payment Method. All payments due under this Agreement to Institute shall be made by bank wire
transfer in immediately available funds to an account designated by Institute. All payments hereunder shall be made in U.S. dollars. 

  

	 	b.	 Taxes. Institute will pay any and all taxes levied on account of all payments it receives under
this Agreement. If laws or regulations require that taxes be withheld with respect to any payments by Ambrx to Institute under this Agreement, Ambrx will: (i) deduct those taxes from the remittable payment, (ii) pay the taxes to the proper
taxing authority, and (iii) send evidence of the obligation together with proof of tax payment to Institute on a timely basis following that tax payment. Each Party agrees to cooperate with the other Party in claiming refunds or exemptions from
such deductions or withholdings under any relevant agreement or treaty which is in effect. In addition, the Parties shall cooperate in accordance with applicable law to minimize indirect taxes (such as value added tax, sales tax, consumption tax and
other similar taxes) in connection with this Agreement. 

  
 Page 19 

	 	c.	 Foreign Exchange. Conversion of sales recorded in local currencies to U.S. dollars shall be
performed in a manner consistent with Ambrx’s normal practices used to prepare its audited financial statements for internal and external reporting purposes. 

 

	 	d.	 Records. Ambrx shall keep, and shall cause its Affiliates and Sublicensees to keep, complete,
true and accurate books of accounts and records, including gross amounts invoiced and any deductions thereto in connection with calculation of Net Sales, sufficient to determine and establish the amounts payable under this Agreement, and compliance
with the other terms and conditions of this Agreement. Such books and records shall be kept reasonably accessible and shall be made available for inspection for a three (3) year period in accordance with
Section 7.4(e) below. 

  

	 	e.	 Inspection of Records. Upon reasonable prior notice, Ambrx shall permit an independent nationally
recognized certified public accounting firm (subject to obligations of confidentiality to Ambrx), appointed by Institute and reasonably acceptable to Ambrx, to inspect the audited financial records of Ambrx to the extent relating to payments to
Institute; provided that such inspection shall not occur more often than once per Calendar Year, unless a material error is discovered in such inspection in which case Institute shall have the right to conduct a more thorough inspection for
such period. If Institute, after inspecting the audited financial records of Ambrx, discovers material errors, then Ambrx shall permit an independent nationally recognized certified public accounting firm (subject to obligations of confidentiality
to Ambrx), appointed by Institute and reasonably acceptable to the Ambrx, to inspect the books and records described in Section 7.4(d); provided that such
inspection shall not occur more often than once per Calendar Year, unless a material error is discovered in such inspection in which case Institute shall have the right to conduct an additional audit for such period. Any inspection conducted under
this Section 7.4(e) shall be at the expense of Institute, unless such inspection reveals any underpayment of the royalties due hereunder for the audited period by at least [***]
([***]), in which case the full costs of such inspection for such period shall be borne by Ambrx. Any underpayment shall be paid by Ambrx to Institute within forty-five (45) days, and any overpayment shall be credited against future amounts due
by Ambrx to Institute. 

  

	8.	 Intellectual Property Matters 

8.1 Ownership. Subject to the licenses granted hereunder, each Party will own all Inventions (and Patents that claim such
Inventions) solely invented by or on behalf of it and/or its Affiliates and/or their respective employees, agents and independent contractors (as determined by US patent law) in the course of conducting activities under the Collaboration Research
Projects (collectively, “Sole Inventions”). Subject to the licenses granted hereunder, the Parties will jointly own all Inventions (and Patents that claim such Joint Inventions) jointly invented by or on behalf of them
and/or their respective Affiliates, employees, agents or independent contractors (as determined by US patent law) in the course of conducting activities under the Collaboration Research Projects (collectively, “Joint
Inventions”). Notwithstanding the foregoing, Institute shall, at Ambrx’s request, assign its entire right, title and interest in and to any Sole Invention or Joint Invention that constitutes an Ambrx Technology Invention to
Ambrx or Ambrx’s designee, and Institute hereby appoints Ambrx as its attorney in fact solely to make such assignments and authorizes Ambrx to make such assignments. In each case, Institute shall execute and deliver to Ambrx a deed(s) of such
assignment, in a mutually agreeable form, within thirty (30) days after the date the Invention Disclosure is provided hereunder. Ambrx shall be responsible for recording all such assignments and

  
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Institute and its successors and assigns shall reasonably cooperate with Ambrx’s efforts to do so, including satisfying the assignment and recording requirements of relevant patent offices.

 8.2 Patent Prosecution and Maintenance. 

 

	 	a.	 Ambrx shall Prosecute all Invention Patents with claims covering Ambrx Technology Inventions throughout those
jurisdictions that Ambrx and the Institute determine to file Inventions Patents (collectively, the “Territory”). Ambrx shall bear [***] of the Patent Prosecution Costs for such Invention Patent(s). For all other Invention
Patents, Institute shall, with Ambrx’s participation, draft, file, prosecute and maintain (including any oppositions, interferences, reissue proceedings, reexaminations and post-grant proceedings) such Invention Patents (including those with
claims covering any Joint Invention) throughout the Territory (such activities, on behalf of Institute or Ambrx, with respect to Invention Patents being the “Prosecution”, with the term “Prosecute”
having the corresponding meaning). Such Prosecution shall be handled by outside counsel mutually agreed upon by the Parties that will jointly represent the Parties (the “Patent Firm”). Institute (a) shall keep
Ambrx advised of the status of the actual and prospective filings of Invention Patents; (b) upon Ambrx’s written request, shall provide advance copies of any papers related to the Prosecution of such Invention Patent filings;
(c) shall give Ambrx an opportunity to review the text of the application before filing, shall consult with Ambrx with respect thereto and shall incorporate Ambrx’s reasonable comments into any such Invention Patent filing; (d) shall
supply Ambrx with a copy of the application as filed, together with notice of its filing date and serial number; and (e) shall promptly give notice to Ambrx of the grant, lapse, revocation, surrender, invalidation or abandonment of any
Invention Patent. Subject to Section 8.2(b) and (c), and until the exercise of an Option by Ambrx, Institute shall bear [***] ([***]) of the Patent Prosecution Costs
for such Invention Patents and shall have lead responsibility and decision making control for such Prosecution, including all decisions related to whether to file and/or continue to pursue and/or maintain any such Invention Patents. Following the
exercise of an Option by Ambrx, Ambrx shall bear [***] ([***]) of the Patent Prosecution Costs for the applicable Invention Patent(s) and pay [***] of past expenses (upon presentation of reasonable supporting documentation), subject to offset and
deduction, and shall have lead responsibility and decision-making control for Prosecution of such Invention Patent(s). For clarity, each Party will bear its own internal costs (i.e., those costs that are not Patent Prosecution Costs) with respect to
its Prosecution activities for such Invention Patents. 

  

	 	b.	 Cooperation; Sharing of Information. The Parties will keep each other informed with regard to
Prosecution hereunder and will cooperate in the Prosecution of the Invention Patents in all respects. Each Party will provide the other Party all reasonable assistance and cooperation in such Prosecution efforts, including providing any necessary
powers of attorney, executing any other required documents or instruments for such Prosecution, and obtaining the assistance and cooperation of any Third Party licensors, as necessary to Prosecute the Invention Patents. Each Party will provide the
other Party with copies of any documents it receives or prepares in connection with such Prosecution and will inform the other Party of the progress of it. 

  

	 	c.	 Ambrx Right to Prosecute and Maintain. In the event that Institute elects not to Prosecute in any
country any Invention Patent, Institute will give Ambrx at least thirty (30) days’ notice before any relevant deadline and provide to Ambrx information it reasonably requests

  
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relating to the Invention Patent. Ambrx will then have the right to assume responsibility, using patent counsel of its choice, for the Prosecution of such Invention Patent in such country. If
Ambrx assumes responsibility for the Prosecution for any such Invention Patents as set forth above, then the Patent Prosecution Costs incurred by Ambrx in the course of such Prosecution will thereafter be borne by Ambrx, subject to offset and
deduction. 

  

	 	d.	 Ambrx Right to Delegate. Ambrx may delegate its rights and responsibilities as to a
particular Invention Patent to a Third Party, pursuant to an agreement with such Third Party. 

 8.3
Infringement Actions. 
  

	 	a.	 Infringement. The Parties will promptly notify each other of any actual, threatened, alleged or
suspected infringement by a Third Party of the Invention Patents (an “Infringement”). A notice under 42 U.S.C. 262(l) (however such section may be amended from time to time during the term of this Agreement) with respect to a
Licensed Product will be deemed to describe an act of Infringement, regardless of its content. As permitted by applicable law, each Party will promptly notify the other Party in writing of any such Infringement of which it becomes aware, and will
provide evidence in such Party’s possession demonstrating such Infringement. In particular, each Party will notify and provide the other Party with copies of any allegations of patent invalidity, unenforceability or non-infringement of any Invention Patents (including methods of use or manufacture thereof). Such notification and copies will be provided by the Party receiving such certification to the other Party as soon as
practicable and, unless prohibited by applicable law, at least within five (5) days after the receiving Party receives such certification. Such notification and copies will be sent by facsimile and overnight courier to the Parties at the
addresses specified in Section 14.11. 

  

	 	b.	 Ambrx Rights. Ambrx will have the first right, but not the obligation, to bring and control, at
its expense, an appropriate suit or other action before any government or private tribunal against any person or entity allegedly engaged in any Infringement (an “Infringement Action”) to remedy the Infringement (or to
settle or otherwise secure the abatement of such Infringement) of an Invention Patent for which Ambrx has exercised the Option pursuant to Section 5.3 or an Invention Patent with
claims covering Ambrx Technology Inventions. The foregoing right of Ambrx shall include the right to perform all actions of a reference product sponsor set forth in 42 U.S.C. 262(l). Institute will have the right, at the reasonable expense of Ambrx,
to be represented by counsel of its choice, in any Infringement Action with respect to an Invention Patent for which Ambrx has exercised the Option pursuant to Section 5.3. At
Ambrx’s request, Institute will join any Infringement Action as a party and will use commercially reasonable efforts to cause any applicable Third Party to join such Infringement Action as a party (all at Ambrx’s expense) if doing so is
necessary for the purposes of establishing standing or is otherwise required by applicable law to pursue such action. Institute will provide to Ambrx reasonable assistance in such enforcement, at Ambrx’s request and expense, including joining
such action as a party plaintiff if required by applicable law to pursue such action. Ambrx will keep Institute regularly informed of the status and progress of such enforcement efforts, and will reasonably consider Institute’s comments on any
such efforts. In any such action, Institute will not be named as the first party to a lawsuit. 

  

	 	c.	 Settlement. Without the prior written consent of the other Party (not to be unreasonably
withheld, conditioned or delayed), neither Party will settle any Infringement Action in any 

  
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manner that would adversely affect an Invention Patent, or that would limit or restrict the ability of a Party (or its Affiliates or Sublicensees, as applicable) to sell Licensed Products
anywhere in the world; provided, however, Ambrx may settle any Infringement Action related to an Invention Patent with claims covering an Ambrx Technology Invention in its sole discretion. 

 

	 	d.	 Expenses and Recoveries. Ambrx will be solely responsible for any expenses incurred by either of
the Parties as a result of an Infringement Action. If Ambrx recovers monetary damages from a Third Party in such Infringement Action, such recovery will first be applied to all
out-of-pocket costs and expenses incurred by the Parties in connection therewith, including attorneys’ fees. If such recovery is insufficient to cover all such
costs and expenses of both Parties, it will be shared pro-rata in proportion to the relative amount of such costs and expenses incurred by each Party. If after such reimbursement any funds remain from such
damages, such remaining funds will be retained [***] ([***]) by Ambrx and [***] ([***]) by Institute; provided, however, Ambrx shall retain [***] ([***]) of any remaining funds from an Infringement Action related to an Invention Patent with
claims covering an Ambrx Technology Invention. 

  

	 	e.	 Institute Rights. In the event Ambrx does not elect to pursue an action pursuant to
Section 8.3(b), Institute shall have the sole right to pursue infringement at its sole expense other than any infringement of an Invention Patent with claims covering an Ambrx
Technology Invention, and shall be entitled to any recovery therefrom. At Institute’s request, Ambrx will join any such Infringement Action as a party and will use commercially reasonable efforts to cause any applicable Third Party to
join such Infringement Action as a party (all at Institute’s expense) if doing so is necessary for the purposes of establishing standing or is otherwise required by applicable law to pursue such action. Ambrx will provide to Institute
reasonable assistance in such enforcement, at Institute’s request and expense, including joining such action as a party plaintiff if required by applicable law to pursue such action. In any such action, Ambrx will not be named as the first
party to a lawsuit. 

  

	9.	 Additional Obligations 

9.1 Institute Research Project Reports. Institute shall deliver to Ambrx a report as to each Invention and the activities
completed in the prior six (6) month period for each Collaboration Research Project (“Research Project Report”). Each Research Project Report shall specify for each Collaboration Research Project (a) a detailed
description of the research and development efforts undertaken by the Institute, (b) the current status of such efforts, (c) the estimated schedule and plan for such future efforts, (d) the individual responsible for the
Institute’s report, (e) all related Information, a detailed description of all procedures and the Ambrx Technology used and (f) such other matters as Ambrx reasonably requests. The reports shall be delivered on or about
January 1 and July 1 of each Calendar Year. In addition, Ambrx may request from time-to-time on thirty (30) days’ prior written notice that the
Parties meet to discuss the progress and status of Collaboration Research Projects. In addition, Institute shall deliver to Ambrx off-cycle Research Project Reports upon the reasonable request of Ambrx,
covering the period of time specified by Ambrx and providing the information set forth above with respect to each Collaboration Research Project. All Information submitted to Ambrx by Institute under this
Section 9.1 may be used by Ambrx pursuant to the licenses granted in Section 3.5, and for the purpose of evaluating whether or not to exercise the Option
to obtain the additional license pursuant to Section 5 hereof, as and when such Option is exercisable in accordance with the terms hereof. Ambrx shall not, during the term of this Agreement or

  
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after the termination hereof, disclose any of the Institute’s Confidential Information contained in a Research Project Report, unless and until (i) Ambrx is permitted to do so pursuant
to the terms of this Agreement or any license agreement entered into by Ambrx and Institute after exercise of the Option for such Invention or (ii) such Information is no longer within the definition of “Confidential Information” as
set forth in Section 11 herein. 
 9.2 Indemnity. Following exercise of
the Option, Ambrx hereby agrees to indemnify, defend and hold harmless Institute and any Affiliate and their trustees, officers, employees, scientists and agent from and against any liability or expense arising from any claims arising from
Ambrx’s use of any Licensed Inventions pursuant to this Agreement. Such indemnity and defense obligation shall apply to any product liability claims, including without limitation, personal injury, death, or property damage made by employees,
subcontractors, sublicensees or agents of Ambrx, as well as any member of the general public. 
 9.3 Limitation of Liability.
EXCEPT FOR (A) INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES PAID OR PAYABLE TO A THIRD PARTY BY AN INDEMNIFIED PARTY FOR WHICH THE INDEMNIFIED PARTY IS ENTITLED TO INDEMNIFICATION HEREUNDER AND/OR
(B) A BREACH OF SECTION 11, IN NO EVENT SHALL ANY PARTY, ITS DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR AFFILIATES BE LIABLE TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES,
WHETHER BASED UPON A CLAIM OR ACTION OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT LIABILITY OR OTHER TORT, OR OTHERWISE, ARISING OUT OF THIS AGREEMENT. 

  
 Page 24 

 9.4 Insurance. Institute and Ambrx shall each procure and maintain insurance,
including (as to Ambrx) product liability insurance, with respect to its respective Collaboration Research Project activities and which are consistent with normal business practices of prudent companies similarly situated to such Party throughout
the term of this Agreement. A Party shall provide the other Party with written evidence of such insurance upon request and with written notice at least thirty (30) days prior to the cancellation,
non-renewal or material change in such insurance. 
  

	10.	 Limited Warranty.  

10.1 Each of Ambrx and Institute hereby represents and warrants that it has full right and power to enter into and perform its obligations
under this Agreement. 
 10.2 Institute hereby represents and warrants that Exhibit A sets forth a complete and accurate list
of all Ambrx Materials in its possession prior to or as of the Effective Date. 
 10.3 EXCEPT AS SET FORTH IN THIS SECTION 10,
NEITHER INSTITUTE NOR AMBRX MAKE ANY OTHER WARRANTIES CONCERNING TECHNOLOGY COVERED BY THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. NEITHER INSTITUTE NOR AMBRX
MAKE ANY WARRANTY OR REPRESENTATION AS TO THE VALIDITY OR SCOPE OF PATENTS, OR THAT ANY COMPOUND AND/OR LICENSED PRODUCT WILL BE FREE FROM AN INFRINGEMENT ON PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR THAT NO THIRD PARTIES
ARE IN ANY WAY INFRINGING OR MISAPPROPRIATING TECHNOLOGY COVERED BY THIS AGREEMENT. 
  

	11.	 Confidentiality and Publication 

11.1 Treatment of Confidential Information. Each Party agrees that, during the term of this Agreement, and for a period of seven
(7) years after this Agreement terminates, a Party receiving Confidential Information of the other Party (the “Receiving Party”) will (i) maintain in confidence such Confidential Information to the same
extent the disclosing Party (the “Disclosing Party”) maintains its own proprietary information, (ii) not disclose such Confidential Information to any Third Party without the prior written consent of the
Disclosing Party and (iii) not use such Confidential Information for any purpose except those permitted by this Agreement, except for that portion of such Confidential Information that the Receiving Party can demonstrate by competent written
proof: 
  

	 	a.	 was already known to the Receiving Party or any of its Affiliates, other than under an obligation of
confidentiality to the Disclosing Party, at the time of disclosure by the Disclosing Party; 

  

	 	b.	 was generally available to the public or otherwise part of the public domain at the time of its disclosure to
the Receiving Party; 

  

	 	c.	 became generally available to the public or otherwise part of the public domain after its disclosure and other
than through any act or omission of the Receiving Party in breach of this Agreement; 

  

	 	d.	 is subsequently disclosed to the Receiving Party or any of its Affiliates by a Third Party without obligations
of confidentiality to the Disclosing Party with respect thereto; or 

  
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	 	e.	 is subsequently independently discovered or developed by the Receiving Party or its Affiliate without the aid,
application, or use of Confidential Information of the Disclosing Party. 

 11.2 Authorized Disclosure. Each
Party may disclose Confidential Information belonging to the other Party to the extent such disclosure is reasonably necessary in the following situations: 
  

	 	a.	 filing or prosecuting Patents in accordance with Article 8; 

 

	 	b.	 regulatory filings and other filings with governmental authorities (including regulatory authorities),
including filings with the U.S. Food and Drug Administration, as necessary for the development and/or commercialization of a Licensed Product, as required in connection with any filing, application or request for Regulatory Approval;
provided, however, that reasonable measures will be taken to assure confidential treatment of such information; 

  

	 	c.	 prosecuting or defending litigation; 

 

	 	d.	 complying with applicable law, including regulations promulgated by securities exchanges;

  

	 	e.	 disclosure to its Affiliates, employees, agents, independent contractors, licensors and any Sublicensees only
on a need-to-know basis and solely in connection with the performance of this Agreement, provided that each disclosee must be bound by obligations of
confidentiality and non-use at least equivalent in scope to and no less restrictive than those set forth in this Article 11 prior to any such disclosure; and 

 

	 	f.	 disclosure of the material terms of this Agreement, the state of development of Licensed Products, certain
blinded data generated under this Agreement, in each case to any bona fide potential or actual investor, stockholder, investment banker, acquirer, merger partner or other potential or actual financial partner; provided that each disclosee
must be bound by obligations of confidentiality and non-use at least equivalent in scope to and no less restrictive than those set forth in this Article 11 prior to any such disclosure.

 Notwithstanding the foregoing, in the event a Party is required to make a disclosure of the other Party’s
Confidential Information, it will, except where impracticable, give reasonable advance notice to the other Party of such disclosure and use reasonable efforts to secure confidential treatment of such information. In any event, the Receiving Party
agrees to take all reasonable action to avoid disclosure of Confidential Information of the Disclosing Party hereunder. 
 Nothing in
Section 11.1 or 11.2 shall limit a Party in any way from disclosing to any Third Party such Party’s U.S. or foreign income tax treatment and
the U.S. or foreign income tax structure of the transactions relating to such Party that are based on or derived from this Agreement, as well as all materials of any kind (including opinions or other tax analyses) relating to such tax treatment or
tax structure, except to the extent that nondisclosure of such matters is reasonably necessary in order to comply with applicable securities laws. 

11.3 Publications. Institute agrees that Ambrx shall have a right to publish Ambrx Confidential Information in its sole
discretion. Ambrx recognizes that the Institute has a legitimate interest in the public communication of scientific results. Therefore, it is anticipated that the Institute may wish to publish the results of the Collaboration Research Projects.
Ambrx will permit such publication provided that Ambrx is given a reasonable period, not less than thirty (30) days prior to the submission for publication of any 

  
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manuscript concerning the results of the Collaboration Research Projects, to review such manuscript to make certain that none of Ambrx’s Confidential Information is disclosed therein and to
enable Ambrx to file or cause to be filed any relevant patent applications prior to publication. Ambrx may request the delay of any such proposed publication for an additional sixty (60) day period, in order to file any patent applications on
the Inventions disclosed therein. Ambrx reserves the right to have any of Ambrx’s Confidential Information deleted from such manuscript. 

11.4 Publicity. Except as otherwise provided herein or required by law, neither Ambrx nor Institute shall originate any
publication, news release or other public announcement, written or oral, whether in the public press, stockholders’ reports, or otherwise, relating to this Agreement or to any Sublicense hereunder, or to the performance hereunder or any such
agreements, without the prior written approval of each other party. Scientific publications published in accordance with Section 11.3 of this Agreement shall not be construed as
publicity governed by this Section 11.4. 
  

	12.	 Term and Termination 

12.1 Term. Unless terminated sooner in accordance with the terms set forth herein, this Agreement, and the licenses granted
hereunder, shall expire when the last of the payment obligations under this Agreement have expired. 
 12.2 Termination Upon
Default. Any one or more of the following events shall constitute an event of default hereunder: (i) the failure of a Party to pay any amounts when due hereunder or (ii) the failure of a Party to perform any material obligation
required of it to be performed hereunder, and the failure to cure within sixty (60) days after receipt of notice from the other Party specifying in reasonable detail the nature of such default. Upon the occurrence of an event of default, the non-defaulting Party may deliver to the defaulting Party written notice of intent to terminate, such termination to be effective upon the date set forth in such notice. Such termination rights shall be in addition
to and not in substitution for any other remedies that may be available to the non-defaulting Party serving such notice against the defaulting Party. Termination pursuant to this
Section 12.2 shall not relieve the defaulting Party of liability and damages to non-defaulting Party for breach of this Agreement. Waiver by
any Party of a single default or a succession of defaults shall not deprive such Party of any right to terminate this Agreement arising by reason of any subsequent default. 

12.3 Termination Upon Ambrx Change of Control. Either Party may terminate this Agreement upon thirty (30) days’ prior
written notice delivered following the closing of an Ambrx Change of Control which occurs during the Research Program Term. If Ambrx terminates this Agreement following an Ambrx Change of Control, (i) Institute may continue to exercise the
research license granted pursuant to Section 3.1, on an Approved Research Plan-by-Approved Research Plan basis, for a
period of twenty four (24) months following the date of approval by Ambrx of the applicable Research Plan (such continued Research Plans, a “Continued Research Plan”) and (ii) Ambrx shall make [***]
([***]) [***] Research Funding Payments. Article 5 shall remain in effect with respect to any Inventions, Invention Patents and related Information that arise under or are conceived with respect to the Continued Research Plans, with
the exception that Ambrx may not exercise its Option with respect to any such Continued Research Plan Invention Patents and related Information. In addition, for clarity, following a termination under this
Section 12.3, no new Research Plans may be proposed for approval or initiated; and if Ambrx has previously exercised an Option with respect to particular Option IP, the licenses granted to Ambrx
pursuant to the exercise of such Option shall remain in full force and effect. For purposes of this Section 12.3, “Ambrx Change of Control” means (a) the acquisition by any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) (a “Specified Person”) of beneficial ownership (within the

  
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meaning of Rule 13d-3 promulgated under the Securities Exchange Act of 1934, as amended) of fifty percent (50%) or more of either (i) the then
outstanding shares of capital stock of Ambrx (the “Outstanding Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of Ambrx entitled to vote generally in the election of
directors of Ambrx (the “Outstanding Voting Securities”); provided, however, that for the purposes of this subsection (a), the following acquisitions of securities of Ambrx shall not constitute an Ambrx Change
of Control: (w) any acquisition by existing stockholders of Ambrx, (x) any acquisition by Ambrx, (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Ambrx or any corporation controlled by
Ambrx or (z) any acquisition by any corporation pursuant to a transaction which complies with clauses (i) and (ii) of subsection (b) of this definition; (b) the consummation of any acquisition, merger or consolidation
involving any Third Party (a “Business Combination Transaction”), unless immediately following such Business Combination Transaction, (i) the individuals and entities who were the beneficial owners, respectively,
of the Outstanding Common Stock and Outstanding Voting Securities immediately prior to such Business Combination Transaction beneficially own, directly or indirectly, fifty percent (50%) or more of, respectively, the then outstanding shares of
common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation or other entity resulting from such Business Combination Transaction
(including a corporation which as a result of such transaction owns the then-outstanding securities of Ambrx or all or substantially all of Ambrx’s assets either directly or through one or more subsidiaries) in substantially the same
proportions as their ownership, immediately prior to such Business Combination Transaction, of the Outstanding Common Stock and Outstanding Voting Securities, as the case may be and (ii) fifty percent (50%) or more of the members of the board
of directors of the corporation resulting from such Business Combination Transaction were members of the Board of Directors of Ambrx at the time of the execution of the initial agreement, or of the action of the Board of Directors of Ambrx,
providing for such Business Combination Transaction; or (c) Ambrx or any of its Affiliates sells or transfers to any Specified Person(s) in one or more related transactions properties or assets representing all or substantially all of
Ambrx’s business or assets at the time of such sale or transfer. 
 12.4 Expiration or Termination. 

 

	 	a.	 Upon the expiration of this Agreement, or upon a termination of this Agreement, each Party shall perform all
obligations incurred up to the date of said expiration or termination, and the Parties shall continue to abide by their non-disclosure obligations described in
Section 11. 

  

	 	b.	 Any licenses in effect as a result of exercises of Options hereunder shall remain in full force and effect and
Ambrx shall be obligated to make payments to Institute as set forth in Article 7 and Sections 6, 8, 9 (excluding Section 9.1), 10, and this
Section 12.4 shall survive and apply after expiration or termination of this Agreement. 

  

	 	c.	 Ambrx shall have the right to continue to consider and/or validate any Invention and related Information which
have not been considered and validated prior to the expiration or termination of this Agreement. Until the Option Period has expired with respect to any such remaining Inventions, Articles 5, 7, 8, 9 and 10 and
Sections 4.5, 6.1 and 6.2 of this Agreement shall remain in full force and effect with respect to such Inventions. 

  

	 	d.	 Ambrx’s right to license an Invention and related Information continues in perpetuity following the
expiration or termination of this Agreement, subject to compliance with the terms (including the payment terms) set forth in this Agreement. 

  
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	 	e.	 In the event of termination of the Research Program Term prior to the expiration of eighteen (18) months
following the Effective Date, Ambrx shall continue to make the quarterly Research Funding Payments set forth in Section 7.1 through the remainder of the eighteen (18) month period; provided,
that no such Research Funding Payments shall be made if Ambrx terminates this Agreement pursuant to Section 12.2 as a result of an uncured Institute default; provided further, that only the
Research Funding Payments set forth in Section 12.3(ii) shall be made if Ambrx terminates this Agreement pursuant to Section 12.3. 

 

	 	f.	 Any licenses in effect pursuant to Section 6.3 shall remain in
full force and effect and Institute shall be obligated to make payments to Ambrx as set forth therein and Articles 8, 9 (excluding Section 9.1), 10, and this
Section 12.4 shall survive and apply after expiration or termination of this Agreement. 

  

	 	g.	 Notwithstanding anything to the contrary, the following provisions shall survive and apply after expiration or
termination of this Agreement: Sections 3.5, 3.7, and 3.8 and Articles 1 (to the extent necessary to interpret other surviving sections), 13 and 14. All provisions
not surviving in accordance with this Section 12.4 shall terminate upon expiration or termination of this Agreement and be of no further force and effect. 

 

	13.	 Assignment; Successors 

13.1 Assignment. This Agreement may not be assigned by a Party without the prior written consent of the other
Party; provided, however, that Ambrx may assign this Agreement and its rights and obligations hereunder to a successor in interest to all or substantially all of the assets of Ambrx to which this Agreement relates, whether by way of a merger,
consolidation, sale of assets, change of control or similar transaction. 
 13.2 Binding Upon Successors and
Assigns. Subject to the limitations on assignment herein, this Agreement shall be binding upon and inure to the benefit of any successors in interest and assigns of Ambrx and Institute. 

 

	14.	 General Provisions 

14.1 Independent Contractors. The relationship between Ambrx and Institute is that of independent contractors.
Ambrx and Institute are not joint venturers, partners, principal and agent, master and servant, employer or employee, and have no other relationship other than independent contracting parties. Ambrx and Institute shall have no power to bind or
obligate each other in any manner, other than as is expressly set forth in this Agreement. 
 14.2 Disputes.
Ambrx and Institute recognize that disputes as to certain matters may from time to time arise during the term of this Agreement which relate to Ambrx’s and Institute’s rights and/or obligations hereunder. It is the objective of Ambrx and
Institute to establish procedures to facilitate the resolution of disputes arising under this Agreement in an expedient manner by mutual cooperation and without resort to litigation. To accomplish this objective, Ambrx and Institute agree to follow
the procedures set forth in Sections 14.3 and 14.4 if and when a dispute arises under this Agreement. 

14.3 Alternative Dispute Resolution. Any dispute controversy or claim arising out of or relating to the validity,
construction, enforceability or performance of this Agreement, including disputes 

  
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relating to alleged breach or to termination of this Agreement or the scope of this arbitration provision, shall be settled by binding Alternative Dispute Resolution
(“ADR”) in the manner described below: 
  

	 	a.	 If a Party intends to begin an ADR to resolve a dispute, after an initial 30 day waiting period after any such
dispute arises in which the relevant parties shall work reasonably and in good faith to amicably resolve the dispute without resorting to this article, such Party shall provide written notice (the “ADR Request”) to
counsel for the other Party informing such other Party of such intention and the issues to be resolved. From the date of the ADR Request and until such time as any matter has been finally settled by ADR, the running of the time periods contained in
Section 12.2 as to which party must cure a breach of this Agreement shall be suspended as to the subject matter of the dispute. 

 

	 	b.	 Within thirty (30) business days after the receipt of the ADR Request, the other Party, may, by written
notice to the counsel for the party initiating ADR, add additional issues to be resolved. 

 14.4
Arbitration Procedure. The ADR and all pre-hearing, hearing and post-hearing arbitration procedures, shall be conducted in English pursuant to the Commercial Arbitration Rules of the American
Arbitration Association for Large, Complex Cases then in effect (the “Rules”), as amended by the following provisions. 
  

	 	a.	 Arbitrator. To the extent that the Parties cannot agree on a single arbitrator, the
arbitration shall be conducted by a panel of three arbitrators (the “Panel”). Each Party to the dispute shall have the right to appoint one (1) member of the Panel, with the third member to be mutually agreed by
the two Panel members appointed by the Parties or appointed in accordance with the rules of the American Arbitration Association (if there are only two parties to the dispute). All panel members shall be selected from a pool of independent
arbitrators. Each Party shall make its appointment within twenty (20) days of receipt of the ADR request and the third panel member shall be selected by the two panel members within ten (10) days of the selection of the first two panel
members (if applicable). 

  

	 	b.	 Proceedings. The Parties will cooperate in good faith in the voluntary, prompt and
informal exchange of non-privileged documents and other information relevant to the ADR. The Parties and the Panel will make every effort to conclude the information exchange process within ninety
(90) days after the Panel is selected. Within seven (7) days after selection of the Panel, each Party may serve on any other Party up to ten (10) interrogatories (or a number otherwise set by the arbitrators), without subparts, for
the purpose of identification of documents and witnesses. These interrogatories will be answered within seven (7) days. 

At any time after the selection of the Panel, but no later than thirty (30) days before the ADR hearing, each Party may
take up to three (3) depositions (or a number otherwise set by the arbitrators) of an opposing Party as a matter of right. The Parties will attempt to agree to time, location and duration of the deposition, and if the Parties do not agree these
will be determined by the Panel. 
 Any Party may conduct depositions of its own witnesses which may be introduced as
evidence at the ADR hearing if the other Party was given fair opportunity to attend the deposition and cross-examine. 

  
 Page 30 

 Upon the request of any Party, the Panel will conduct a conference for the
purpose of determining additional information to be exchanged. Parties may request additional depositions, interrogatories or document Production. If the Panel determines that the requesting Party has a reasonable need for the requested information
and that the request is not overly burdensome on the opposing Party, the Panel shall order the additional information exchange. 

As they become aware of new documents or information, including experts who may be called upon to testify, all Parties remain
under a continuing obligation to provide documents upon which they rely, to supplement their responses, and to honor any informal agreements or understandings between the Parties regarding documents or information to be exchanged. Documents which
have not been previously exchanged will not be considered by the Panel at the hearing, unless agreed by the Parties. 

The Parties will promptly notify the Panel when an unresolved dispute exists regarding discovery issues. The Panel will discuss
the matter with the Parties to determine the nature of the dispute and will attempt to resolve that dispute. If the Panel does not resolve the dispute, the Panel will arrange a conference concerning the dispute before the Panel by telephone, or in
person, and the Panel will decide the dispute. 
 The Panel will determine the date and time of the ADR hearing and other
proceedings after consultation with the Panel and the Parties and will provide reasonable notice of the hearing date and time. The Panel will make every effort to schedule the ADR hearing within one hundred and twenty (120) days of the
commencement of the ADR, absent unusual circumstances. 
 The Parties may agree on or the Panel for good cause may order a
rescheduling of the hearing date. 
 The Panel will ordinarily conduct the ADR hearing in the manner set forth in these
Rules. The Panel may vary these procedures if the Panel determines it is reasonable time limits on each phase of the proceeding and may limit testimony to exclude evidence that would be immaterial or unduly repetitive, provided that each
Party is afforded the opportunity to present material and relevant evidence. 
 The Panel will require witnesses to testify
under oath if requested by any Party. 
 The Panel will determine the order of proof, which will generally be similar to that
of a court trial, including opening and closing statements. 
 When the Panel determines that all relevant and material
evidence and arguments have been presented, the Panel will declare the hearing closed. The Panel may defer the closing of the hearing for up to twenty (20) days to permit the Parties to submit post-hearing briefs and or to make closing
arguments, as the Panel deems appropriate, before rendering an award. 
 The Panel will render the award within ten
(10) days after the date of the closing of the hearing or, if an ADR hearing has been waived, within ten (10) days after the date of the Panel’s receiving all materials specified by the Parties. The decision and award of majority

  
 Page 31 

 
of the Panel will constitute the ADR award and will be binding on the Parties. The ADR award shall include specific findings of fact and shall reach conclusions of law based on the submissions
and evidence of the Parties and shall be delivered via written decision explaining the basis for the decision. 
 The Panel
shall, in rendering its decision, apply the substantive laws of the State of California, without regard to its conflict of laws provisions, except that the interpretation of and enforcement of this Article shall be governed by the Federal
Arbitration Act and the arbitrators shall base their decision on the express terms, covenants and conditions of this Agreement. The proceeding shall take place in San Diego, California. The fees of the Panel shall be paid by the losing Party which
shall be designated by the Panel. If the Panel is unable to designate a losing Party, it shall so state and the fees shall be split equally between the parties. 
  

	 	c.	 Award. The Panel is empowered to award any remedy allowed by law, including money damages,
multiple damages, prejudgment interest and attorney’s fees, and to grant final, complete, interim, or interlocutory relief, including injunctive relief. Notwithstanding the foregoing, punitive damages may not be awarded and express terms of
this Agreement may not be altered. 

  

	 	d.	 Costs. Except as set forth in
Section 14.4(b), above, each Party shall bear its own legal fees. 

  

	 	e.	 Confidentiality. The ADR proceeding shall be confidential and the Panel shall issue
appropriate protective orders to safeguard each Party’s Confidential Information. Except as required by law, including applicable securities law, no Party shall make (or instruct the panel to make) any public announcement with respect to the
proceedings or decision of the Panel without prior written consent of each other Party. The existence of any dispute submitted to ADR, and the award, shall be kept in confidence by the Parties and the Panel, except as required in connection with the
enforcement of such award or as otherwise required by applicable law. 

 14.5 Survivability.
Any duty to use ADR under this Agreement shall remain in effect and enforceable after termination of this Agreement for any reason. 

14.6 Entire Agreement; Modification. This Agreement sets forth the entire agreement and understanding between
Ambrx and Institute as to the subject matter hereof, and this Agreement supersedes, amends and restates all prior agreements and understandings between the Parties, except that the Original Agreement shall: (a) be effective from the Effective
Date until the Amended and Restated Effective Date; and (b) govern the Parties’ respective rights and obligations during such period of time. There shall be no amendments or modifications to this Agreement, except by a written document
which is signed by Ambrx and Institute. 
 14.7 Governing Law. This Agreement shall be construed and enforced
in accordance with the substantive laws of the State of California, without regard to its conflict of laws principles. 

14.8 Headings. The headings for each article and section in this Agreement have been inserted for convenience of
reference only and are not intended to limit or expand on the meaning of the language contained in the particular article or section. 

  
 Page 32 

 14.9 Severability. Should any one or more of the provisions of
this Agreement be held invalid or unenforceable by a court of competent jurisdiction, it shall be considered severed from this Agreement and shall not serve to invalidate the remaining provisions thereof. The Parties shall make a good faith effort
to replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by them when entering this Agreement may be realized. 

14.10 No Waiver. Any delay in enforcing rights under this Agreement or any waiver as to a particular default or
other matter shall not constitute a waiver of such rights to the future enforcement of its rights under this Agreement exception only as to an express written and signed waiver as to a particular matter for a particular period of time. 

14.11 Notices. Any notices required by this Agreement shall be in writing, shall specifically refer to this
Agreement and shall be sent by registered or certified airmail, postage prepaid, or by facsimile, or by overnight courier, postage prepaid and shall be forwarded to the respective addresses set forth below unless subsequently changed by written
notice to the other Party: 
  

					
		  	For Ambrx	  	10975 North Torrey Pines Road
		  		  	La Jolla, California 92037
		  	Attn:	  	General Counsel
		  	Fax No.:	  	(858) 453-9511

 With a
copy to (which shall not constitute notice hereunder): 
  

					
		  		  	 Latham & Watkins LLP
 12636 High
Bluff Drive, Suite 400
 San Diego, CA 92130

		  	Attn:	  	Faye H. Russell
		  	Fax No.:	  	    
			
		  	For Institute:	  	California Institute for Biomedical Research, Inc.
		  		  	11119 North Torrey Pines Road
		  		  	Suite 100
		  		  	La Jolla, CA 92037
		  		  	Attn: Dr. Matthew Tremblay
		  		  	Fax No.:     
		  		  	 With a copy to (which shall not constitute notice hereunder):Wilson Sonsini

650 Page Mill Rd

		  		  	Palo Alto, CA 94304
		  	Attn:	  	Vern Norviel
		  	Fax No.:	  	    

 Notice shall be deemed delivered upon the earlier of (i) when received, (ii) three (3) days
after deposit into the mail, or (iii) the date notice is sent via facsimile, (iv) the day immediately following delivery to overnight courier (except Sunday and holidays). 

14.12 Compliance with U.S. Laws. Nothing contained in this Agreement
shall require or permit Ambrx or Institute to do any act inconsistent with the requirements of any United States law, regulation or executive order as the same may be in effect from time to time. 

  
 Page 33 

 14.13
Non-Solicitation. During the Research Program Term and for a period of two (2) years thereafter, neither Ambrx nor Institute shall actively recruit or solicit for employment any staff member
of the other Party who is engaged or had been engaged in activities under this Agreement. For the avoidance of doubt, nothing in this Agreement shall limit Ambrx or Institute from engaging in general recruitment through advertisements or recruiting
through “head-hunters” so long as the staff members of the other Party are not specifically targeted in such recruitment effort. 

[Remainder of Page Intentionally left Blank] 

  
 Page 34 

 IN WITNESS WHEREOF each of Ambrx and Institute have executed this Agreement by their duly
authorized representatives as of the date set forth above. 
  

									
	Ambrx:	 		 	Institute:
					
	By:	 	 /s/ Simon Allen
	 		 	By:	 	 /s/ Matt Tremblay

					
	Name:	 	 Simon Allen
	 		 	Name:	 	 Matt Tremblay

					
	Title:	 	 Chief Business Officer
	 		 	Title:	 	 VP Operations

 EXHIBIT A 

Ambrx Materials 
 Ambrx
Materials in Institute’s possession prior to or as of the Effective Date 
 Ambrx Materials contemplated to be transferred to Institute as of the
Effective Date 

 Schedule A 

Excluded Grandfathered Research Projects 

[***] 

 Schedule B 

Grandfathered Research Projects 

[***] 

 Schedule C 

Option Process Flow 

[***]EX-10.9

 Exhibit 10.9 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND
(II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
 CO-DEVELOPMENT AND LICENSE
AGREEMENT 
 among 

NOVOCODEX BIOPHARMACEUTICALS LTD. 

and 
 AMBRX, INC. 

Dated as of 22 October, 2019 

  
 1 

 This CO-DEVELOPMENT AND LICENSE
AGREEMENT (this “Agreement”), effective as of 22 October, 2019 (the “Effective Date”), is between, Ambrx, Inc., a Delaware corporation having its principal business address at 10975 North
Torrey Pines Road, La Jolla, California 92037, USA, for and on behalf of itself and its Affiliates (together with its Affiliates, “Ambrx”), and NovoCodex Biopharmaceuticals Ltd., a company registered under the laws of the
People’s Republic of China, with its registered address in Shaoxing, China, for and on behalf of itself and its Affiliates (together with its Affiliates, “Novocodex”). Novocodex currently is majority owned by Zhejiang Medicine
Co. Ltd., a company registered with address in Shaoxing, China. Ambrx and Novocodex may each be referred to herein individually as a “Party” or, collectively, as the “Parties.” 

RECITALS 

WHEREAS, Ambrx owns and/or controls Ambrx Background Technology (as hereinafter defined) and has rights to Licensed
Intellectual Property Rights (as hereinafter defined) with respect to the Program (as hereinafter defined); 

WHEREAS, Novocodex is a pharmaceutical company engaged in research, development, and commercialization of pharmaceutical
products, including the human therapeutic products in the Territory (as hereinafter defined); 
 WHEREAS, Novocodex
desires to obtain an exclusive license under the Ambrx Existing Patent Rights in the Territory upon the terms and conditions set forth herein, and Ambrx desires to grant such a license, in order for Novocodex, to develop, make, use, sell, offer for
sale the Licensed Products (as hereinafter defined) for the prevention or treatment of human diseases and human conditions in the Territory; and 

WHEREAS, Novocodex desires to obtain assistance from Ambrx and Ambrx desires to offer such assistance to Novocodex to
develop the Program and the Licensed Products in the Territory under world-class standards. 
 NOW, THEREFORE, in
consideration of the foregoing premises and the mutual covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE 1 
 DEFINITIONS

 As used in this Agreement, the following terms shall have those meanings set forth in this ARTICLE 1 unless the
context dictates otherwise. 
  

	1.1	 “Anti-CD70-ADC” shall mean an Antibody Drug
Conjugate (ADC) which is capable of binding primarily to CD70 and being conjugated to one cytotoxic payload. For clarity, Anti-CD70-ADC includes ADC that has been conjugated to one cytotoxic payload.

  

	1.2	 “ARX305” shall mean the Anti-CD70-ADC with the
structure depicted in Exhibit 1.1, also known as ARX305. 

  
 2 

	1.3	 “Affiliate” shall mean, with respect to any Person, any other Person that directly or
indirectly controls, is controlled by, or is under common control with such Person. A Person shall be deemed to control another Person if such Person possesses the power to direct or cause the direction of the management, business and policies of
such Person, whether through the ownership of fifty percent (50%) or more of the voting securities of such Person by voting agreement, by contract or otherwise. 

 

	1.4	 “Ambrx Background Technology” shall mean Know-How and
Ambrx Patent Rights, including inventions, discoveries, improvements, processes, methods, protocols, formulas, compositions, data, inventions, know-how and/or trade secrets, patentable or otherwise, which are
owned and/or Controlled by Ambrx or any of its Affiliates as of the Effective Date or during the Term of this Agreement. 

  

	1.5	 “Ambrx Existing Patent Rights” shall mean all Patent Rights in the Territory owned or
Controlled by or licensed to Ambrx as of the Effective Date which is related to ARX305 as shown in Exhibit 1.5. 

  

	1.6	 “Ambrx Improvements” shall mean all Patent Rights and
Know-How first (i) conceived, (ii) developed, (iii) reduced to practice or (iv) shown to have utility by one or more employees or Third Parties working on behalf of Ambrx, in connection with the
development of Licensed Products or in the course of engaging in the Program during the Term of this Agreement without involvement of any employees from Novocodex. 

 

	1.7	 “Ambrx Know-How” shall mean all Confidential
Information & Materials, technical knowledge, materials, cells or cell lines, software, trade secrets, Know-How, process technology and other knowledge, information, or technology in possession of
Ambrx and its Affiliate, as of the Effective Date and during the Royalty Term, concerning subject matter relating to Licensed Products and which are necessary for the development, manufacture, use or sale of Licensed Products in the Field in the
Territory. 

  

	1.8	 “Ambrx Patent Rights” shall mean any Patent Rights Controlled or owned by Ambrx as of the
Effective Date or during the Term of this Agreement in addition to Ambrx Existing Patent Rights. 

  

	1.9	 “Antibody” or “Antibodies” shall mean a full length antibody which is a
“Y”-shaped protein consisting of four polypeptide chains: two identical heavy chains and two identical light chains connected by disulfide bonds, capable of binding to an antigen, whether polyclonal, monoclonal, human, humanized, chimeric,
murine, synthetic or from any other source. 

  

	1.10	 “Antibody Drug Conjugate” or “ADC” shall mean an Antibody which
1) has undergone modification through [***], 2) provides one or more specific site(s) in the amino acid sequence of the Antibody suitable for conjugation, and 3) is suitable and capable of [***]. 

  
 3 

 For clarity, ADC includes an Antibody that has been conjugated, linked or attached to one or
more cytotoxic payload(s) via one or more specific site(s). 
  

	1.11	 “Applicable Laws” shall mean the applicable laws of any jurisdiction which are applicable to
any of the Parties or their respective Affiliates in carrying out activities hereunder or to which any of the Parties or their respective Affiliates in carrying out the activities hereunder is subject by law or by agreement, and shall include all
statutes, enactments, acts of legislature, laws, ordinances, rules, regulations, notifications, guidelines, policies, directions, directives and orders of any statutory authority, tribunal, board, or court or any central or state government or local
authority or other governmental entity in such jurisdictions. 

  

	1.12	 “Calendar Quarter” shall mean the respective periods of three (3) consecutive calendar
months ending on March 31, June 30, September 30 and December 31. 

  

	1.13	 “Calendar Year” shall mean each successive period of twelve (12) months commencing on
January 1 and ending on December 31. 

  

	1.14	 “CD70” shall mean the protein encoded by the CD70 (Cluster of Differentiation 70, Entrez Gene:
970) gene which is known to be a cytokine in the tumor necrosis factor (TNF) ligand family. 

  

	1.15	 “cGMP” or “Current Good Manufacturing Practice” shall mean the
applicable then-current standards for manufacturing of pharmaceuticals or biologicals, as set forth in the United States Federal Food, Drug and Cosmetic Act, 21 U.S.C. §§ 301, as amended from time to time, together with any similar
standards of good manufacturing practice as required by the FDA and other relevant Regulatory Authority. 

  

	1.16	 “China GAAP” shall mean Generally Accepted Accounting Principles for the People’s
Republic of China. 

  

	1.17	 “Commercially Reasonable Efforts” shall mean, with respect to the efforts to be expended by a
Party with respect to any objective, [***]. 

  

	1.18	 “Confidential Information & Materials” shall mean any and all
proprietary and/or confidential information, materials, and data, including all scientific, pre-clinical, clinical, 

  
 4 

	 	
regulatory, process, formulation, manufacturing, marketing, financial and commercial information or data, compounds, cells, cell lines, whether communicated in writing or orally or by any other
method, which are provided by one Party to the other Party prior to or during the Term of this Agreement. 

  

	1.19	 “Control”, “Controls” or “Controlled by” shall mean with
respect to any Patent Rights, Know-How, Confidential Information & Materials, or other intellectual property assets or other items or rights, as applicable, the possession of (whether by ownership or
license or other right, other than pursuant to a license under this Agreement), or the ability of a Party to grant access to, or a license or sublicense of, such item or right as provided for herein without violating the terms of any agreement and
without additional payments or other arrangement with any Third Party existing at the time such Party would be required hereunder to grant the other Party such access or license or sublicense. 

 

	1.20	 “Covered By” shall mean, with respect to Patent Rights: materials, products and services
developed, manufactured, used, sold or provided by Novocodex, which but for the License, would infringe a Valid Claim of such Patent Rights in the Territory in which such products or services are developed, used, manufactured, sold or provided by
Novocodex, respectively. 

  

	1.21	 “Effective Date” shall mean the date first set forth above. 

 

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

  

	1.23	 “Field” shall mean all human indications and uses, such as diagnosis, prevention, and
treatment of human diseases and conditions associated with anti-CD70. For clarity, the Field is for human use only and excludes all non-human indications and uses. 

 

	1.24	 “First Commercial Sale” shall mean, with respect to Licensed Product, the first sale to the
general public of such Licensed Product in the Territory after all required marketing and pricing approvals have been granted, or otherwise permitted, by the governing health authority of Territory such as NMPA. “First Commercial Sale”
shall not include the provision of any Licensed Product for use in clinical trials or for compassionate use, in each case, if such use is not compensated, prior to the receipt of necessary Marketing Authorization. 

 

	1.25	 “Full Time Equivalent” or “FTE” shall mean a dedicated full-time employee or
contractor of Ambrx, as the case may be, or in the case of less than a full-time dedicated person, a full-time, equivalent person year, each based upon the total of one thousand six hundred eighty (1680) hours per year of work on activities
hereunder. 

  

	1.26	 “FTE Rate” means the yearly rate at which Novocodex will fund Ambrx FTEs for labor and
services. 

  

	1.27	 “Generic/Biosimilar Competition” shall mean the sale of products containing ARX305 in the
Territory by a Third Party. 

  
 5 

	1.28	 “Global Development Plan” means the plan setting forth the
pre-clinical, clinical, manufacturing and regulatory activities and timelines relating to the development of Licensed Products in the Field. An initial draft of the Global Development Plan is set forth on
Exhibit 1.28. 

  

	1.29	 “Joint Development Technology” or “Joint Improvements” shall mean all
inventions and Know-How first (i) conceived, (ii) developed, (iii) reduced to practice or (iv) shown to have utility by, on one hand, one or more employees or Third Parties working on behalf of
Novocodex, on the one hand, with one or more employees or Third Parties working on behalf of Ambrx, on the other hand, in connection with the development of Licensed Products or in the course of engaging in the Program, as well as any and all Patent
Rights covering the same. 

  

	1.30	 “Joint Steering Committee” shall mean the entity organized and acting pursuant to ARTICLE 3.

  

	1.31	 “Know-How” shall mean unpatented technical and other
information or materials which are not in the public domain including information comprising or relating to discoveries, inventions, data, designs, formulae, methods, models, assays, research plans, procedures, designs for experiments and tests and
results of experimentation and testing (including results of research or development or Anti-CD70-ADC Program), cells or cell lines (including cells or cell lines producing Anti-CD70 Antibody or Anti-CD70
ADC), processes (including manufacturing processes, specifications and techniques), laboratory records, chemical, pharmacological, toxicological, clinical, analytical and quality control data, trial data, case report forms, data analyses, reports or
summaries and information contained in submissions to and information from ethical committees and regulatory authorities. Know-How includes rights protecting Know-How.
The fact that an item is known to the public shall not be taken to exclude the possibility that a compilation including the item, and/or a development relating to the item, is (and remains) not known to the public. 

 

	1.32	 “License” shall mean all of the rights granted by Ambrx to Novocodex by this Agreement under
the Licensed Intellectual Property Rights pursuant to Sections 2.1.1 and 2.1.2. 

  

	1.33	 “Licensed Intellectual Property Rights” shall mean (a) Ambrx Know-How; and (b) Ambrx Existing Patent Rights. 

  

	1.34	 “Licensed Product” shall mean any pharmaceutical product containing ARX305 as an active
pharmaceutical ingredient, that meets any of the following criteria: (i) the development, use, manufacture or sale of such product is or will be Covered By a Valid Claim of any Ambrx Existing Patent Rights and/or Ambrx Patent Rights; or
(ii) such product (a) is not described in clause (i) above and (b) is developed, manufactured, sold or provided using Ambrx Know-How. 

  
 6 

	1.35	 “Marketing Authorization” shall mean all approvals from NMPA necessary to market and sell a
Licensed Product in the Territory or a Regulatory Authority in a corresponding jurisdiction outside the Territory. 

  

	1.36	 “Net Sales” shall mean: 

(I) to Ambrx, the “for profit” licensing revenue Ambrx received from a Third Party by transferring, assigning or licensing Phase I
Clinical Data to such Third Party, [***]; and 
 (II) to Novocodex, the gross invoice price (not including value added taxes, sales taxes, or
similar taxes) of Licensed Product sold by Novocodex or its Affiliate or sublicensee to the first Third Party in which Novocodex or its Affiliate or sublicensee has no equity interest after deducting, if not previously deducted, from the amount
invoiced or received: 
  

	 	(a)	 [***]; 

  

	 	(b)	 [***]; 

  

	 	(c)	 [***]; 

  

	 	(d)	 [***]; 

  

	 	(e)	 [***]; 

  

	 	(f)	 [***]; and 

  

	 	(g)	 [***]; 

  

	 	(h)	 [***]; and 

  

	 	(i)	 [***]. 

Any individual items that are estimated and deducted in calculating Net Sales shall be periodically (but at least on a calendar quarter basis)
trued up and adjusted by Novocodex consistent with its customary practices and in accordance with China GAAP. Any deductions subsequently reversed shall be included in Net Sales for the royalty period in which such deductions are reversed. In no
event shall the total amount of deductions 

  
 7 

 
made in accordance with Items 1.36(II)(e) through (i) above during any period exceed [***]% of the gross invoice price for such period. The calculation of Net Sales hereunder shall be in
accordance with China GAAP and Novocodex’s and/or its Affiliates’ customary accounting policies, applied consistently across periods, and 

(1) Transfer or sale of a Licensed Product within Novocodex, between Novocodex and an Affiliate, or between Novocodex and a non-Affiliate Third Party in which Novocodex has equity interest shall not be considered a sale, commercial use or disposition for the purpose of the foregoing paragraphs; 

(2) in the event that Novocodex has to transfer or sell any Licensed Product to a non-Affiliate Third
Party in which Novocodex has equity interest, Novocodex and Ambrx shall jointly discuss and determine the value of Net Sales; and 
 (3) in
the event that Novocodex receives consideration for any Licensed Products in the case of transactions not at arm’s length with a non-Affiliate of Novocodex, Net Sales will be calculated [***]. 

 

	1.37	 “NMPA” shall mean National Medical and Pharmaceutical Administration in the People’s
Republic of China, or any successor thereto. 

  

	1.38	 “Novocodex Improvements” shall mean all Patent Rights and
Know-How first (i) conceived, (ii) developed, (iii) reduced to practice or (iv) shown to have utility by one or more employees or Third Parties working on behalf of Novocodex, in connection with
the development of Licensed Products or in the course of engaging in the Program without any involvement with employee(s) of Ambrx. 

  

	1.39	 “Patent Rights” shall mean any and all rights under any of the following, whether existing now
or in the future, and whether or not filed: (i) a United States, international or foreign patent, utility model, design registration, certificate of invention, patent of addition or substitution, or other governmental grant for the protection
of inventions or industrial designs anywhere in the world, including any reissue, renewal, re-examination or extension thereof; and (ii) any application for any of the foregoing, including any
international, provisional, divisional, continuation, continuation-in-part, or continued prosecution application. 

 

	1.40	 “Person” shall mean any natural person, corporation, firm, business trust, joint venture,
association, organization, company, partnership or other business entity, or any government or any agency or political subdivision thereof. 

  

	1.41	 “Phase I Clinical Data” shall mean data, information, or regulatory filings related to Phase I
Clinical Trial in a country that would satisfy the requirements of 21 CFR 312.21(a), as may be amended, or the foreign equivalent thereof. 

  

	1.42	 “Phase I Clinical Trial” shall mean a human clinical trial in any country that would satisfy
the requirements of 21 CFR 312.21(a), as may be amended, or the foreign equivalent thereof. 

  
 8 

	1.43	 “Phase II Clinical Trial” shall mean a human clinical trial in any country that would satisfy
the requirements of 21 CFR 312.21(b), as may be amended, or the foreign equivalent thereof. 

  

	1.44	 “Phase III Clinical Trial” shall mean a human clinical trial in any country that would satisfy
the requirements of 21 CFR 312.21(c), as may be amended, or the foreign equivalent thereof. 

  

	1.45	 “Program” shall mean development, preclinical and clinical activities directed by the Joint
Steering Committee and undertaken by the Parties to develop ARX305 into a therapeutic product. 

  

	1.46	 “Regulatory Authority” shall mean any applicable government regulatory authority involved in
granting approvals for the manufacturing, marketing, reimbursement and/or pricing of the Licensed Product or ARX305 in the Territory or outside the Territory, including, in the Territory, NMPA, and in the United States, the FDA and any successor
governmental authority having substantially the same function. 

  

	1.47	 “Royalty Term” shall have the meaning set forth in Section 6.5. 

 

	1.48	 “Territory” shall mean all cities, zones, provinces, territories and other divisions or
regions in and throughout the People’s Republic of China. 

  

	1.49	 “Third Party” shall mean a person or entity other than Ambrx, Novocodex or their Affiliates.

  

	1.50	 “Valid Claim” means: (a) a claim of an issued and unexpired patent within the Patent
Rights that has not been (i) held permanently revoked, unenforceable, unpatentable or invalid by a decision of a court or governmental body of competent jurisdiction, unappealable or unappealed within the time allowed for appeal,
(ii) rendered unenforceable through disclaimer or otherwise, (iii) abandoned or (iv) permanently lost through an interference or opposition proceeding without any right of appeal or review; or (b) a pending claim of a pending
patent application within the Patent Rights that (i) has been asserted and continues to be prosecuted in good faith and (ii) has not been abandoned or finally rejected without the possibility of appeal or refiling. 

ARTICLE 2 
 LICENSE;
DEVELOPMENT AND COMMERCIALIZATION 
  

	2.1	 EXCLUSIVE LICENSE GRANT BY AMBRX. 

 

	2.1.1	 Subject to terms and conditions of this Agreement, including the rights retained by Ambrx in Sections 2.1.3
& 2.1.4, Ambrx hereby grants to Novocodex an exclusive right and license in the Field throughout the Territory, with the right to grant sublicenses subject to Section 2.9.1, under Ambrx Existing Patent Rights to develop, have developed,

  
 9 

	 	
use, manufacture, have manufactured, sell, offer for sale and have sold Licensed Products during the Term of this Agreement. 

 

	2.1.2	 Subject to terms and conditions of this Agreement, including the rights retained by Ambrx in Sections 2.1.3
& 2.1.4, Ambrx hereby grants to Novocodex an exclusive right and license in the Field throughout the Territory, with the right to grant sublicenses subject to Section 2.9.1, under Ambrx Know-How to
develop, have developed, use, manufacture, have manufactured, sell, offer for sale and have sold Licensed Products during the Term of this Agreement. 

  

	2.1.3	 Ambrx shall retain non-exclusive and sublicensable rights under the
foregoing Licenses in Section 2.1.1 and 2.1.2 solely as are necessary to perform documented research activities in the Territory and Ambrx shall notify Novocodex in writing thirty (30) days in advance of such activities.

  

	2.1.4	 Ambrx shall retain all rights under Licensed Intellectual Property Rights unless otherwise specifically and
expressly set forth in this Agreement. 

  

	2.1.5	 Ambrx agrees that during the Term of this Agreement, it will not grant any exclusive right and license under
Ambrx Existing Patent Rights to any Third Party to develop, have developed, use, manufacture, have manufactured, sell, offer for sale and have sold any product containing any Anti-CD70-ADC for use in the Field
and in the Territory. 

  

	2.2	 NON-EXCLUSIVE LICENSE GRANT BY AMBRX. Ambrx hereby grants to Novocodex a non-exclusive right and license in the
Field in any mutually approved jurisdiction outside the Territory, under the Licensed Intellectual Property Rights, for the sole purpose of conducting regulatory activities for Phase I Clinical Data in said jurisdiction for the Licensed Products;
provided that the Joint Steering Committee may amend such jurisdiction from time to time. 

  

	2.3	 NON-EXCLUSIVE SUBLICENSE GRANT BY AMBRX. In the event that, during the
term of this Agreement and after the Effective Date, Ambrx licenses from any Third Party rights in the Field to any Valid Claim of any issued patent or patent application issued to a Third Party that shall be necessary for Novocodex’s exercise
of its rights pursuant to Section 2.1 herein (an “Ambrx Third Party License”) in the Territory, Ambrx shall promptly notify Novocodex of the terms of such Ambrx Third Party License and the rights covered by such license. Upon
request by Novocodex, and to the extent not prohibited by such Ambrx Third Party License, Ambrx shall grant to Novocodex, and does hereby grant to Novocodex, a non-exclusive right and sublicense (if permitted
by the Third Party) in the Field throughout the Territory, with the right to grant further sublicenses subject to Section 2.9.1, under the rights granted to Ambrx in the Ambrx Third Party License. Ambrx shall use reasonable efforts to secure
the right to grant the sublicense under this Section in any Ambrx Third Party License. If Novocodex is required to pay certain royalty payment to such a Third Party under Ambrx Third Party License, Novocodex is entitled to offset such royalty
payment pursuant to the terms in Section 6.7. 

  
 10 

	2.4	 NON-EXCLUSIVE LICENSE GRANT BY AMBRX. Ambrx hereby grants to Novocodex
a non-exclusive, sub-licensable subject to Section 2.9.1, royalty-free right and license in the Territory, under Ambrx’s interest in the Ambrx Improvements, to use, develop and exploit Ambrx
Improvements only for Licensed Products. 

  

	2.5	 NO ASSERTION BY AMBRX. So long as Novocodex is in compliance with the terms and conditions of this Agreement,
Ambrx shall not assert against any claims for infringement of any Ambrx Background Technology owned or Controlled by Ambrx covering Novocodex’s permitted exercise of its rights hereunder solely for the purpose of developing, making, having
made, using, selling, offering for sale, having sold any Licensed Product in the Field in the Territory during the Term of this Agreement or solely for the purpose of engaging in permitted regulatory activities for Phase I Clinical Data in an ex-China territory such as the USA or a mutually approved jurisdiction outside the Territory pursuant to Section 2.2. 

  

	2.6	 EXCLUSIVE LICENSE GRANT BY NOVOCODEX. As the consideration to the rights granted by Ambrx under Sections 2.1,
2.2, 2.3 and 2.4 and Ambrx’s agreement not to sue under Section 2.5, Novocodex hereby grants to Ambrx an exclusive (even as to Novocodex), sub-licensable, royalty-free right and license in the world outside the Territory, under
Novocodex’s interest in the Novocodex Improvements and Joint Improvements, to use, develop and exploit Novocodex Improvements and Joint Improvements. 

  

	2.7	 NON-EXCLUSIVE LICENSE GRANT BY NOVOCODEX. As the consideration to the rights granted by Ambrx under Sections
2.1, 2.2, 2.3 and 2.4 and Ambrx’s agreement not to sue under Section 2.5, Novocodex hereby grants to Ambrx a non-exclusive, sub-licensable, royalty-free right and license in the Territory, under
Novocodex’s interest in the Novocodex Improvements, to use, develop and exploit Novocodex Improvements. 

  

	2.8	 TRANSFER OR EXCLUSIVE LICENSE GRANT BY NOVOCODEX REGARDING PHASE I CLINICAL DATA. To the extent permissible by
Applicable Law, Novocodex shall transfer and assign to Ambrx ownership of all preclinical, clinical, regulatory filings, and Phase I Clinical Data in any mutually approved jurisdiction outside the Territory, provided however, if such transfer and
assignment is not legally permitted, Novocodex hereby grants to Ambrx an exclusive (even as to Novocodex), sub-licensable, transferable, perpetual, irrevocable,
non-terminable, royalty-bearing right and license in the world outside the Territory, under Novocodex’s interest in information including regulatory filings and Phase I Clinical Data, to use, reference,
develop and exploit such information by Ambrx, its Affiliate or a Third Party authorized by Ambrx. Novocodex shall make reasonable effort to perfect such transfer, assignment or exclusive license under this Section. 

 

	2.9	 SUBLICENSES. 

  

	2.9.1	 Any sublicense by Novocodex of the rights granted to Novocodex under this Agreement shall obtain written
approval from the Joint Steering Committee first, and then Ambrx’s prior written consent (not unreasonably withheld or delayed), be consistent with the terms 

  
 11 

	 	
of this Agreement, and include an obligation for the sublicensee to comply with the applicable obligations of the sublicensing Party set forth in this Agreement. Novocodex shall not grant any
sublicense hereunder that would impose obligations on Ambrx greater than those obligations of Ambrx contained in this Agreement. Novocodex shall provide to Ambrx a copy of each sublicense hereunder, which shall permit verification by Ambrx of
compliance with the provisions of this Agreement. Parties expressly agree that Ambrx 1) shall reasonably withhold the written consent if Novocodex sublicenses its substantially entire rights and interests granted herein to a Third Party unless
Parties negotiate in good faith to reach an agreement prior to such sublicense, and 2) shall not unreasonably withhold such consent if Novocodex enters such sublicense for the purpose of distributing or supplying Licensed Products in the Territory
or otherwise expressed approved herein or by the Joint Steering Committee. 

  

	2.9.2	 With respect to any sublicense by one Party of the rights granted to said Party under this ARTICLE 2, said
Party shall not grant any sublicense hereunder that would impose obligations on the other Party greater than those obligations of the other Party contained in this Agreement. 

 

	2.10	 NO OTHER GRANT OF RIGHTS. Except as expressly provided herein, nothing in this Agreement will be construed to
confer any ownership interest, license or other rights upon Novocodex by implication, estoppel or otherwise as to any technology, intellectual property rights, products or biological materials of Ambrx, or any other entity, regardless of whether
such technology, intellectual property rights, products or biological materials are dominant, subordinate or otherwise related to any Ambrx Background Technology or Licensed Intellectual Property Rights. 

ARTICLE 3 
 JOINT
STEERING COMMITTEE 
  

	3.1	 MEMBERS. Within thirty (30) days after the Effective Date, the Parties shall establish a Joint Steering
Committee (the “Joint Steering Committee”), which shall comprise six (6) members, three (3) designated by Novocodex and three (3) by Ambrx (or such other number as the Parties may agree in writing). The initial
members of the Joint Steering Committee are set forth on Exhibit 3.1. Any member of the Joint Steering Committee may be represented at any meeting by a designee who is appointed by the Party designating such member for such meeting and who has
authority to act on behalf of such member, as evidenced by written notice from the Party designating such member to the chairperson of the Joint Steering Committee. The chairperson of the Joint Steering Committee shall be one of the members
designated by Ambrx. The initial chairperson is designated on Exhibit 3.1. Each Party shall be free to replace its representative members with new appointees who have authority to act on behalf of such Party on the Joint Steering
Committee, on written notice to the other Party. 

  
 12 

	3.2	 RESPONSIBILITIES. The Joint Steering Committee shall be responsible for (a) maximizing the global
opportunity and profitability of the Licensed Product while aligning the strategic, logistical and financial considerations of each Party; (b) reviewing and discussing the implementation of the Global Development Plan; (c) reviewing,
discussing and approving amendments and updates to the Global Development Plan; (d) directing development activities for the Licensed Product in accordance with the Global Development Plan; (e) aligning cGMP manufacturing activities and
investments to provide Licensed Products and ARX305 for clinical trials and commercial supply in accordance with the Global Development Plan. 

  

	3.3	 MEETINGS. The Joint Steering Committee shall meet as frequently as the Parties deem appropriate during the
first three-year period following the Effective Date but no less frequently than once a Calendar Quarter (or more frequently, as agreed upon by the Parties) thereafter, on such dates and at such times as the Parties shall agree, on ten
(10) days’ written notice to the other Party unless such notice is waived by the other Party. The Joint Steering Committee may convene or be polled or consulted from time to time by means of telecommunications, video conferences or
correspondence, as deemed necessary or appropriate by the Parties. To the extent that meetings are held in person, they shall alternate between the offices of the Parties unless the Parties otherwise agree. The chairperson shall be responsible for
sending notices of meetings to all members. 

  

	3.4	 DECISIONS. 

  

	3.4.1	 A quorum for a meeting of the Joint Steering Committee shall require the presence of at least two
(2) Ambrx members (or designees) and at least two (2) Novocodex members (or designees) in person or by telephone. All decisions made or actions taken by the Joint Steering Committee shall be made unanimously by its members, with the Ambrx
members present at a meeting cumulatively having one (1) vote and the Novocodex members present at a meeting cumulatively having one (1) vote. 

  

	3.4.2	 In the event that unanimity cannot be reached by the Joint Steering Committee with respect to a matter that is
a subject of its decision-making authority within thirty (30) days after the matter is first brought before the Joint Steering Committee, then the matter shall be decided unanimously by the Chairperson of Novocodex and the CEO of Ambrx or by
their designated representatives. If the Chairperson of Novocodex and the CEO of Ambrx or their designated representatives cannot reach an unanimous decision within thirty (30) days after the matter is first brought to them, then [***] shall
have the final decision making authority for [***]; provided that [***] final decisions do not obligate [***] to [***]. 

  

	3.5	 MINUTES. Within fifteen (15) days after each Joint Steering Committee meeting, the chairperson of the
Joint Steering Committee shall prepare and distribute minutes of the meeting, which shall provide a description in reasonable detail of the discussions had at the meeting and a list of any actions, decisions or determinations approved by the Joint

  
 13 

	 	
Steering Committee at such meeting. The chairperson of the Joint Steering Committee shall be responsible for circulation of all draft and final minutes. Draft minutes shall be circulated to all
members of the Joint Steering Committee sufficiently in advance of the next meeting to allow review and comment prior to the meeting. Minutes shall be approved or disapproved, and revised as necessary, at the next meeting. Final minutes shall be
distributed to the members of the Joint Steering Committee. 

  

	3.6	 WITHDRAWAL. At any time during the Term and for any reason, either Party shall have the right to withdraw from
participation in the Joint Steering Committee upon written notice to the other Party (a “Withdrawal Notice”), which shall be effective immediately upon receipt. Following the issuance of a Withdrawal Notice and subject
to this Section 3.6 the withdrawing Party’s representatives on the Joint Steering Committee shall not participate in any meetings of the Joint Steering Committee. If, at any time, following the issuance of a Withdrawal Notice, the
withdrawing Party wishes to resume participation in the Joint Steering Committee, the withdrawing Party shall notify the other Party in writing and, thereafter, the withdrawing Party’s representatives on the Joint Steering Committee shall be
entitled to attend any subsequent meeting of, and to participate in the activities of, the Joint Steering Committee as if a Withdrawal Notice had not been issued by the withdrawing Party. Following the withdrawing Party’s issuance of a
Withdrawal Notice, unless and until the withdrawing Party resumes participation in the Joint Steering Committee in accordance with this Section 3.6: (i) all meetings of the Joint Steering Committee shall be held at the other Party’s
facilities; and (ii) the withdrawing Party shall have the right to continue to receive the minutes of the meetings of the Joint Steering Committee, but shall not have the right to approve the minutes for any such meeting held after the
withdrawing Party’s issuance of the Withdrawal Notice. In any event, withdrawal from the Joint Steering Committee shall not impair Novocodex and Ambrx’s rights to receive reports or disclosures under Section 3.5. 

  

	3.7	 TERM. The Joint Steering Committee shall exist until the earlier of (i) expiration of the Royalty Term for
all Licensed Products and (ii) the grant of an exclusive license by Ambrx to a Third Party to develop, manufacture, use, sell or otherwise commercialize the Licensed Product in any country outside the Territory. 

ARTICLE 4 
 DEVELOPMENT,
MANUFACTURING AND COMMERCIALIZATION 
  

	4.1	 DEVELOPMENT OVERVIEW. The Parties shall collaborate in the development of Licensed Products up until the
completion of Phase I Clinical Trials in the Field globally in accordance with the Global Development Plan and Section 4.3 below. Thereafter, the Parties may continue the development collaboration or conduct development activities in their
respective territories separately in accordance with Section 4.4 below. 

  

	4.2	 GLOBAL DEVELOPMENT PLAN. Within sixty (60) days after the Effective Date, the Joint Steering Committee
shall adopt a written plan for development of Licensed Products up until the completion of Phase I Clinical Trials in the Field globally in a 

  
 14 

	 	
collaborative manner (which shall be attached hereto as Exhibit 1.28), which shall include, but not be limited to (i) the indication(s) to be developed, (ii) the proposed global
development activities and allocation thereof between the Parties, (iii) the timeline and budget, (iv) manufacturing process development, (v) clinical supply arrangement, and (vi) the Phase I clinical activities and such other
matters that the Parties may want to include (the “Global Development Plan”). Either Party may propose to the Joint Steering Committee and the other Party, revisions to the Global Development Plan, with supporting evidence, such as
technical, clinical or regulatory reasons that underline the proposed revisions. The Joint Steering Committee may amend the Global Development Plan from time to time after the Effective Date, pursuant to the decision making mechanism as set forth in
Section 3.4.2. 

  

	4.3	 COLLABORATIONS UNDER THE GLOBAL DEVELOPMENT PLAN; FUNDING. 

 

	4.3.1	 Up until the completion of the global Phase I Clinical Trials of the Licensed Product, the Parties shall
collaborate in the development of the Licensed Product in accordance with the Global Development Plan, including budgets and timelines set forth in the Global Development Plan. Each Party shall use Commercially Reasonable Efforts to carry out the
activities assigned to it under the Global Development Plan and in accordance with the world-class standards. Novocodex shall, among other things, be responsible for funding the preparation of IND filing package(s) suitable for filings in the US and
the Territory. The Parties shall jointly be responsible for designing clinical trials and study protocols and overseeing the global Phase I Clinical Trial of the Licensed Product and the performance of other activities under the Global Development
Plan, with the priority to complete the Phase I activities, including dose-escalation and indication explorations, inside the Territory first. 

  

	4.3.2	 Novocodex shall be responsible for funding activities up to the end of the global Phase I Clinical Trial of the
Licensed Product in accordance with the Global Development Plan and shall fund or reimburse Ambrx for development costs incurred or to be incurred by Ambrx prior to the completion of the global Phase I Clinical Trial of the Licensed Product, with
the following exceptions: (i) with respect to Phase I Clinical Trial activities under the Global Development Plan conducted outside the Territory and clinical supply of drug substance for such Phase I Clinical Trial activities, Novocodex shall
fund or reimburse Ambrx for up to $[***] in costs and expenses (the “Cap”), and (ii) in the event that costs and expenses for Phase I Clinical Trial activities under the Global Development Plan conducted outside the Territory
are in excess of the Cap, Novocodex shall be responsible for [***]% and Ambrx shall be responsible for [***]% of the amount above the Cap (the “Cost Share”). For the sake of clarity, [***]. Novocodex shall promptly, within thirty
(30) days after the date of receipt of Ambrx’s invoices, fund or reimburse Ambrx the development costs incurred or to be 

  
 15 

	 	
incurred by Ambrx prior to the completion of the global Phase I Clinical Trial of the Licensed Product. 

  

	4.4	 OUTSIDE THE GLOBAL DEVELOPMENT PLAN. Other than rights and obligations set forth in the Global Development
Plan, Novocodex shall be solely responsible for conducting and paying for all development and commercialization of the Licensed Products in or for the Territory, and Ambrx shall be solely responsible for conducting and paying for the development and
commercialization of the Licensed Products outside the Territory. Subject to Section 3.4.2, Novocodex shall have decision making authority for (and an obligation to fund) additional activities not included in the Global Development Plan that
Novocodex deems necessary or desirable for the Territory; provided that such additional activities would not reasonably likely to affect the development or commercialization of the Licensed Product outside the Territory or outside the Field.

  

	4.5	 SAFETY DATA EXCHANGE. No later than initiation by Novocodex of a clinical trial in the Territory, Novocodex
shall enter into a safety data exchange agreement with Ambrx and/or its other licensee regarding the Licensed Product, which shall set forth standard operating procedures governing the collection, investigation, reporting, and exchange of
information concerning adverse drug reactions/experiences sufficient to permit each Party to comply with its regulatory and other legal obligations within the applicable timeframes. Such safety data exchange agreement shall identify which Party
shall be responsible for the timely reporting of all relevant adverse drug reactions/experiences, product quality, product complaints and safety data relating to Licensed Product to the appropriate Regulatory Authorities in and outside the Territory
in accordance with all Applicable Law. Such agreement shall allow each Party to comply with all regulatory and legal requirements regarding the management of safety data by providing for the exchange of relevant information in the appropriate format
within applicable timeframes. Unless otherwise mutually agreed by the Parties, Ambrx or its other licensee shall maintain a global safety database for the Licensed Product, and Novocodex shall maintain one or more safety database(s) for the Licensed
Product in the Field and the Territory. 

  

	4.6	 MANUFACTURING. The Parties shall collaborate in the manufacturing process development and the clinical supply
arrangement up until the completion of the global Phase 1 Clinical Trials in accordance with the Global Development Plan. Thereafter, the Parties may decide to continue to collaborate with clinical and commercial manufacturing and supply
arrangements or have separate arrangements; provided that the Licensed Product is manufactured at facilities that meet all applicable regulatory requirements and in accordance with cGMP and other Applicable Laws. 

 

	4.7	 COMMERCIALIZATION. Novocodex (itself and through its Affiliates and sublicensees, as applicable) shall be
solely responsible, at its own expense, for marketing, selling, offering for sale, distributing, promoting and otherwise commercializing Licensed Product in the Field in the Territory. 

 

	4.8	 COMPLIANCE WITH APPLICABLE LAWS. Novocodex shall conduct, and shall cause its Affiliates and sublicensees to
conduct all development, regulatory, 

  
 16 

	 	
manufacturing and commercialization activities with respect to ARX305 and Licensed Product in the Field in the Territory in compliance with this Agreement, all Applicable Laws and world-class
standards, including cGMP, good scientific and clinical practices under the Applicable Laws of the country in which such activities are conducted. 

ARTICLE 5 
 SUPPORT AND
ASSISTANCE 
  

	5.1	 EFFORTS BY AMBRX. Ambrx shall, either itself or through its Affiliates, use commercially reasonable efforts to
provide technical and consulting assistance or other services as requested by Novocodex, at Novocodex’s expense, which are necessary for Novocodex to exercise its rights and/or perform its obligations under this Agreement.

  

	5.2	 TECHNICAL ASSISTANCE: Parties agree that Ambrx will dispatch [***] during the [***] period following the
Effective Date, provided however, Novocodex may request [***] from Ambrx to provide technical and consulting assistance or other services to Novocodex, as necessary for Novocodex to perform its development activities under Section 4.1.

 ARTICLE 6 

MONETARY OBLIGATIONS, REPORTS AND AUDITS 
  

	6.1	 STARTUP PAYMENT. For the initiation of collaborative research, Novocodex shall pay to Ambrx within thirty
(30) days after receipt of invoice from Ambrx, a one-time payment in cash of Two Million Dollars ($2,000,000), which payment shall be non-refundable and non-creditable and not subject to set-off. 

  

	6.2	 FOLLOW-UP PAYMENTS. As set forth in the following table, Novocodex
shall make the following payments (the “Follow-up Payments”) to Ambrx upon achievement of each of the events set forth in the tables below (the
“Follow-up Events”) by Novocodex or its Affiliates or sublicensees. Each Follow-up Payment shall be payable by Novocodex to Ambrx within thirty
(30) days after the achievement of the corresponding Follow-up Event and receipt of invoice from Ambrx with respect to the Licensed Product. Such payments shall be
non-refundable and non-creditable and not subject to set-off. 

 

					
	
Follow-up Event
	  	 Follow-up Payment
	 
	 [***]
	  	 	[	***] 

  
 17 

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

  

	6.3	 ROYALTIES PAYABLE BY NOVOCODEX. Subject to the terms and conditions of this Agreement, Novocodex shall pay
Ambrx royalties in an amount equal to the following percentage of Net Sales of Licensed Products sold by Novocodex or its Affiliates: 

  

	6.3.1	 [***] ([***]%) of such Net Sales in the Territory in each Calendar Year up to and including Net Sales of [***]
($[***]); 

  

	6.3.2	 [***] ([***]%) of such Net Sales in the Territory in each Calendar Year for the portion of such Net Sales
exceeding of [***] ($[***]) up to and including of [***] ($[***]); and 

  

	6.3.3	 [***] ([***]%) of such Net Sales in the Territory in each Calendar Year for the portion of such Net Sales
exceeding [***] ($[***]). 

  

	6.4	 KNOW-HOW ROYALTY. Notwithstanding the provisions of Section 6.3
above, in the event and after the manufacture, use or sale of Licensed Products by Novocodex or its Affiliates would not infringe a Valid Claim of the Ambrx Existing Patent Rights, or the Ambrx Existing Patent Rights covering the Licensed Products
are deemed invalid or have expired, the Net Sales of such Licensed Products in the Territory shall remain the same during the Royalty Term in determining the applicable royalty rate according to Section 6.3, provided however, the Net Sales of
such Licensed Products shall be [***] if Generic Competition exists. 

  

	6.5	 ROYALTY TERM. Royalties on Licensed Product at the rates set forth above shall be paid during the period which
shall commence with the First Commercial Sale of the Licensed Product and continue until the expiration of the later of: (i) the last-to-expire Valid Claim of Ambrx
Existing Patent Rights that would be infringed by the manufacture, use or sale of Licensed Product in the Territory; or (ii) the period of [***] ([***]) years following the First Commercial Sale of such Licensed Product in the Territory (the
“Royalty Term”). 

  

	6.6	 ROYALTIES PAYABLE BY AMBRX. Ambrx shall pay Novocodex royalties in an amount equal to the following percentage
of Net Sales of Phase I Clinical Data transferred or licensed by Ambrx to a Third Party: 

  
 18 

	6.6.1	 [***] ([***]%) of such Net Sales if Ambrx or its Affiliate(s) transfers or licenses Phase I Clinical Data
without making additional efforts as defined in Sections 6.6.2 to 6.6.4; 

  

	6.6.2	 [***] ([***]%) of such Net Sales if Ambrx or its Affiliate(s) transfers or licenses Phase I Clinical Data after
Ambrx initiates Phase II Clinical Trial outside the Territory; 

  

	6.6.3	 [***] ([***]%) of such Net Sales if Ambrx or its Affiliate(s) transfers or licenses Phase I Clinical Data after
Ambrx initiates Phase III Clinical Trial outside the Territory; and 

  

	6.6.4	 [***] ([***]%) of such Net Sales if Ambrx or its Affiliate(s) commercializes and sells a Licensed Product
outside the Territory, the Marketing Authorization of such Licensed Product is based on Phase I Clinical Data. 

  

	6.7	 THIRD PARTY ROYALTY SET-OFF. If Novocodex under Ambrx Third Party
License is required to pay royalty that is necessary for Novocodex’s exercise of its rights hereunder in Territory pursuant to Section 2.3 or obtain a license from a Third Party due to infringement action under Section 7.4, it may
offset any royalty payments actually paid by Novocodex to such Third Party due thereunder with respect to sales of Licensed Products against the royalty payments that are due to Ambrx; provided that in no event shall the royalty payments to Ambrx
with respect to such Licensed Products be reduced by more than [***] ([***]%) of the amount otherwise due. 

  

	6.8	 FUNDING FOR DEVELOPMENT. Novocodex shall be responsible for funding/reimbursing Ambrx’s development costs
through the completion of Phase I Clinical Trials in accordance with the Global Development Plan, as set forth in Section 4.3.2. In the event that Novocodex does not meet its funding obligations as set forth in Section 4.3.2, the royalty
rates at which Ambrx is required to pay Novocodex shall be reduced proportionally. 

  

	6.9	 THIRD PARTY PAYMENTS. Subject to Section 4.3.2, Novocodex shall be responsible for and at its sole expense
shall pay all amounts owing to any Third Party for development activities under the Global Development Plan performed by such Third Party. Any contract with a total value in excess of $[***] shall be signed directly between the Third Party and
Novocodex. Novocodex shall sign such contract promptly and in no case, later than thirty (30) days after the final contract is presented to it. The invoice from any Third Party approved by Novocodex within the Global Development Plan and
incurred by Ambrx for a given Calendar Quarter will be sent to Novocodex within forty-five (45) days following the end of such Calendar Quarter. Such invoice reimbursable by Novocodex shall be paid within thirty (30) days after Novocodex
receives such invoice. 

  

	6.10	 FTE PAYMENTS TO AMBRX. In consideration of technical assistance provided by Ambrx pursuant to Section 5.2,
Novocodex shall fund a minimum of one (1) Ambrx FTEs for the three (3) year period following the Effective Date at the FTE Rate of [***] ($[***]) per FTE per Calendar Year in quarterly

  
 19 

	 	
installments. Novocodex shall make the payment to Ambrx within thirty (30) days after receipt of invoice from Ambrx at the beginning of each Calendar Quarter. 

 

	6.11	 REPORTS. During the Term following the First Commercial Sale of Licensed Product, Novocodex shall furnish to
Ambrx a quarterly written report for the Calendar Quarter showing the gross and Net Sales of all Licensed Products subject to royalty payments sold by Novocodex and its Affiliates in the Territory during the reporting period and the royalties
payable under this Agreement. Reports shall be due on the forty-fifth (45th) day following the close of each Calendar Quarter. Royalties shown to have accrued by each royalty report shall be due and payable on the date such royalty report is due.
Novocodex and its Affiliates shall keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined. 

  

	6.12	 AUDITS. 

  

	6.12.1	 ACCOUNTING FIRM. Upon the written request of Ambrx and not more than once in each Calendar Year, Novocodex
shall permit a qualified and reputable independent certified public accounting firm selected by Ambrx and approved by Novocodex not unreasonably withhold, at Ambrx’s expense, to have access during normal business hours to such of the records of
Novocodex related to the production and sales of Licensed Products as may be reasonably necessary to verify the accuracy of the royalty reports pursuant to Section 6.11 for any Calendar Year ending not more than thirty six (36) months
prior to the date of such request. The accounting firm shall disclose to Ambrx and Novocodex whether the royalty reports are correct or incorrect and the amount of any discrepancy. 

 

	6.12.2	 ACCESS. In order to fulfill the auditing, the accounting firm so selected shall have the right to access,
examine, review and copy all books or accounts of Novocodex, relevant procurement/distribution agreements and other purchase/sales contracts, purchase/sales orders, operation records, tax paid to local government, and itemized tax for the Licensed
Products, and to discuss the business, operations and conditions of Novocodex with its respective directors, officers, employees, accounts, auditors, financial advisors, legal counsel and investment bankers, to the extent reasonably deemed by Ambrx
as necessary for determining the accuracy of the royalty reports. Novocodex shall not unreasonably restrict the accounting firm’s access to premises of Novocodex during normal business hours. 

 

	6.12.3	 PAYMENT AND FEES. If such accounting firm identifies a discrepancy made during such period, the appropriate
Party shall pay the other Party the amount of the discrepancy within thirty (30) days of the date Ambrx delivers to Novocodex such accounting firm’s written report so concluding, or as otherwise agreed upon by the Parties. The fees charged
by such accounting firm shall be paid by Ambrx, provided however, that if such audit uncovers an underpayment of royalties by Novocodex that exceeds [***] ([***]%) of the total royalties owed for the period in question, the fees of such accounting
firm shall be equally shared by Ambrx and Novocodex. 

  
 20 

	6.12.4	 SUBLICENSES. Novocodex shall include in each sublicense granted by it pursuant to this Agreement a provision
requiring the sublicensee to make reports to Novocodex, to keep and maintain records of sales made pursuant to such sublicense and to grant access to such records by Ambrx’s independent accountant to the same extent required of Novocodex under
this Agreement. 

  

	6.12.5	 CONFIDENTIALITY. Ambrx shall treat all financial information subject to review under this Section 6.12 or
under any sublicense agreement in accordance with the terms of ARTICLE 8 of this Agreement, and shall cause its accounting firm to enter into an acceptable confidentiality agreement with Ambrx, or with Novocodex and/or its Affiliates or sublicensee,
obligating it to retain all such information in confidence pursuant to such confidentiality agreement. 

  

	6.13	 PAYMENT EXCHANGE RATE. All royalty payments due hereunder shall be paid in United States dollars by wire
transfer to a bank account designated by Ambrx. Any payments or portions thereof due hereunder which are not paid on the date such payments are due under this Agreement shall bear interest at a rate equal to the lesser of prime rate as reported by
Citibank, New York, New York (or its successor in interest) or the maximum rate permitted by law, calculated on the number of days such payment is delinquent. If the royalty payments are paid in United States Dollar, the Parties shall apply the
[***]. 

  

	6.14	 TAX WITHHOLDING. Ambrx shall be liable for all income and/or other taxes (including interest) imposed upon any
royalty payments made by Novocodex to Ambrx under this Agreement (“Taxes”). In the event Applicable Laws require withholding of Taxes, Novocodex shall notify Ambrx in writing number of tax payable in advance, before it makes such
withholding payments and subtracts the amount thereof from the payments. Novocodex shall submit appropriate proof of payment of the withheld Taxes to Ambrx and shall provide Ambrx with the official receipts within a reasonable period of time.
Notwithstanding the foregoing, to the extent permitted by Applicable Laws and upon request of Ambrx, Novocodex shall use Commercially Reasonable Efforts to apply for approvals from competent PRC tax authorities, on behalf of Ambrx, for reduction or
exemption of applicable PRC taxes over the payments made by Novocodex to Ambrx, before it makes the withholding payments and subtracts the amount thereof from the payments due to Ambrx. 

 

	6.15	 PAYMENT PROCEDURES. Novocodex shall be responsible for obtaining any and all governmental approval/registration
procedures (if legally required) and foreign exchange related procedures/formalities in connection with repatriation of any payments made by Novocodex to Ambrx under the Agreement to the bank accounts designated by Ambrx outside China, and Ambrx
will provide reasonable assistance if necessary. 

 ARTICLE 7 

INTELLECTUAL PROPERTY 

  
 21 

	7.1	 OWNERSHIP. Novocodex is the sole owner of any Novocodex Improvements. Ambrx is the sole owner of any Ambrx
Improvements. Joint Development Technology is co-owned by Novocodex and Ambrx. Other than provided herein, each Party is responsible for filing and prosecuting of Patent Rights stemming from its own
inventions. 

  

	7.2	 FILING, PROSECUTION AND MAINTENANCE OF PATENTS FOR JOINT DEVELOPMENT TECHNOLOGY. 

 

	7.2.1	 JOINT DEVELOPMENT TECHNOLOGY. Ambrx shall have the first right to file patent applications for Joint
Development Technology (in the name of both Novocodex and Ambrx) and thereafter prosecute and maintain Patent Rights for such Joint Development Technology. In the event that Ambrx files such patent applications and thereafter prosecutes and
maintains Patent Rights for such Joint Development Technology, Novocodex shall execute such documents and perform such ministerial acts, at Novocodex’s expense, as may be reasonably necessary for Ambrx to continue such prosecution or
maintenance of Patent Rights claiming such Joint Development Technology. Ambrx shall, in its sole discretion, have a right to choose external counsel to assist in the procurement and maintenance of such Joint Development Technology; provided that
Ambrx’s choice of counsel will not present a conflict of interest for Novocodex. With respect to a given Joint Development Technology, Ambrx may elect not to file or may elect not to file in a particular country and if so, Ambrx shall notify
Novocodex and Novocodex shall have the right to file such patent applications for such Joint Development Technology (in the name of both Novocodex and Ambrx) and thereafter prosecute and maintain Patent Rights for such Joint Development Technology.
In the event that Novocodex files such patent applications and thereafter prosecutes and maintains Patent Rights for such Joint Development Technology, Ambrx shall execute such documents and perform such ministerial acts, at Ambrx’s expense, as
may be reasonably necessary for Novocodex to continue such prosecution or maintenance of Patent Rights claiming such Joint Development Technology. Novocodex shall, in its sole discretion, have a right to choose external counsel to assist in the
procurement and maintenance of such Joint Development Technology; provided that Novocodex’s choice of counsel will not present a conflict of interest for Ambrx. 

 

	7.2.2	 NOVOCODEX IMPROVEMENTS. Novocodex shall have the first right, at its sole cost and expense, to file patent
applications for Novocodex Improvement and thereafter prosecute and maintain Patent Rights for such Novocodex Improvements. With respect to a given Novocodex Improvement, Novocodex may elect not to file or may elect not to file in a particular
country outside the Territory and if so, Novocodex shall notify Ambrx and Ambrx shall have the right but not the obligation to file such patent applications for such Novocodex Improvement and thereafter prosecute and maintain Patent Rights for such
Novocodex Improvement. In such event, Novocodex shall execute such documents and perform such ministerial acts, at Ambrx’s expense, as may be reasonably necessary for Ambrx to continue such prosecution or maintenance of Patent Rights claiming
such Novocodex Improvements outside the Territory. 

  

	7.2.3	 REVIEW AND CONSULTATION. In each case in connection with the foregoing with respect to Joint Development
Technology and Novocodex Improvement, as applicable, 

  
 22 

	 	
the filing Party (a) shall keep the non-filing Party advised of the status of the actual and prospective patent filings; (b) upon the non-filing Party’s written request, shall provide advance copies of any papers related to the filing, prosecution and maintenance of such patent filings; (c) shall give the
non-filing Party an opportunity to review the text of the application before filing and shall consult with the non-filing Party with respect thereto; (d) shall give
the non-filing Party an opportunity to review and comment on any documents relating to such patent filings that will be filed in any patent office at least twenty (20) days before such filing and give due
consideration to such substantive, non-cumulative comments; (e) shall supply the non-filing Party with a copy of the application
as-filed, together with notice of its filing date and serial number; and (f) shall promptly give notice to the non-filing Party of the grant, lapse, revocation,
surrender, invalidation or abandonment of any Patent Rights claiming Joint Development Technology and Novocodex Improvement, as applicable) for which it is responsible for the filing, prosecution or maintenance hereunder (provided that the filing
Party shall give at least thirty (30) days prior written notice to the non-filing Party of any desire to cease prosecution and/or maintenance of such Patent Rights). 

 

	7.2.4	 COSTS. The Parties shall [***] costs of filing patent applications and procuring and maintaining Patent Rights
in the United States, Japan, China, Brazil, and with the European Patent Office (including but not limited to all National Phase filing costs and fees) for such Joint Development Technology; Ambrx shall be responsible for [***] of filing patent
applications and procuring and maintaining Patent Rights for such Joint Development Technology in all other jurisdictions outside the Territory, provided however, if, pursuant to Section 7.2.1, Ambrx elects not to file in a particular country
in such other jurisdictions and Novocodex elects to file in such particular country for such Joint Development Technology, then Novocodex shall pay [***]% of the costs to file and maintain said Patent Rights in said elected country. Further, if,
pursuant to Section 7.2.2, Novocodex elects not to file in a particular country outside the Territory and Ambrx elects to file and maintain Patent Rights on such Novocodex Improvements, then Ambrx shall pay [***]% of the costs to file and
maintain said Patent Rights in the elected country(ies). For clarity, Ambrx shall be responsible for prosecuting and maintaining Ambrx Existing Patent Rights and Ambrx Patent Rights in and outside the Territory [***]. 

 

	7.3	 ENFORCEMENT OF PATENT RIGHTS. 

 

	7.3.1	 NOTICE. Each Party shall promptly notify the other Party of any infringement or possible infringement by a
third party of any rights licensed to Novocodex under this Agreement. Further, Ambrx shall give Novocodex, and Novocodex shall give Ambrx, notice of any infringement of (i) any Ambrx Existing Patent Rights in the Territory, or any
misappropriation or misuse of Ambrx Know-How, that may come to Ambrx’s or Novocodex’s attention. Novocodex and Ambrx shall thereafter consult and cooperate fully to determine a course of action,
including but not limited to, the commencement of legal action by Novocodex and/or Ambrx, to terminate any infringement of such Ambrx Existing Patent Rights or any misappropriation or misuse of such Ambrx
Know-How, as applicable. 

  
 23 

	7.3.2	 SUIT BY NOVOCODEX. Novocodex shall have the first right, but not obligation, to initiate and prosecute
such legal action at its own expense and in the name of Novocodex to terminate any infringement relating to such Ambrx Existing Patent Rights or such Ambrx Know-How in the Territory, as applicable. Should
Novocodex elect to bring suit against an infringer, Novocodex shall keep Ambrx reasonably informed of the progress of the action and shall give Ambrx a reasonable opportunity in advance to consult with Novocodex and offer its views about major
decisions affecting the litigation. Novocodex shall give careful consideration to Ambrx views, but shall have the right to control the action; provided, however, that if the validity and/or enforceability of the Ambrx Existing Patent Rights is
raised by the infringer in the action or, or if Novocodex’s license to a Valid Claim in the suit terminates, Ambrx may elect to take control of the action pursuant to Section 7.3.5. Should Novocodex elect to bring suit against an infringer
and Ambrx is joined as party plaintiff in any such suit, Ambrx shall have the right to approve the counsel selected by Novocodex to represent Novocodex and Ambrx, such approval not to be unreasonably withheld. The expenses of such suit or suits that
Novocodex elects to bring, including any expenses of Ambrx incurred in conjunction with the prosecution of such suits or the settlement thereof, shall be paid for entirely by Novocodex and Novocodex shall hold Ambrx free, clear and harmless from and
against any and all costs of such litigation, including reasonable attorneys’ fees. Novocodex shall not compromise or settle such litigation without the prior written consent of Ambrx, which consent shall not be unreasonably withheld or
delayed. In the event Novocodex exercises its right to sue pursuant to this Section 7.3.2, it shall first reimburse itself out of any sums recovered in such suit or in settlement thereof for all costs and expenses of every kind and character,
including reasonable attorneys’ fees, necessarily incurred in the prosecution of any such suit. If, after such reimbursement, any funds shall remain from said recovery, then Ambrx shall receive an amount equal to [***] ([***]%) of
such funds and the remaining [***] ([***]%) of such funds shall be retained by Novocodex. 

  

	7.3.3	 SUIT BY AMBRX. If Novocodex does not take action in the prosecution, prevention, or termination of any
infringement pursuant to Section 7.3.2 above, and has not commenced negotiations with the infringer for the discontinuance of said infringement, within ninety (90) days after receipt of notice to Novocodex by Ambrx of the existence of an
infringement, Ambrx may elect to do so. Should Ambrx elect to bring suit against an infringer and Novocodex is joined as party plaintiff in any such suit, Ambrx shall have the right to select the counsel to represent Ambrx and Novocodex unless
otherwise conflicted out. The expenses of such suit or suits that Ambrx elects to bring, including any expenses of Novocodex incurred in conjunction with the prosecution of such suits or the settlement thereof, shall be paid for entirely by Ambrx.
In the event Ambrx exercises its right to sue pursuant to this Section 7.3.3, it shall first reimburse itself out of any sums recovered in such suit or in settlement thereof for all costs and expenses of every kind and character, including
reasonable attorneys’ fees, necessarily incurred in the prosecution of any such suit. If, after such reimbursement, any funds shall remain from said recovery, then Novocodex shall receive an amount equal to [***] ([***]%) of such funds and the
remaining [***] ([***]%) of such funds shall be retained by Ambrx. Notwithstanding the foregoing, Ambrx shall have the right to initiate 

  
 24 

	 	
and prosecute any legal action(s) relating to Licensed Intellectual Property Rights or Ambrx Background Technology outside the Territory at its own expense. 

 

	7.3.4	 COOPERATION. Each party agrees to cooperate fully in any action under this ARTICLE 7 that is controlled
by the other party, provided that the controlling party reimburses the cooperating party promptly for any costs and expenses incurred by the cooperating party in connection with providing such assistance. 

 

	7.3.5	 DECLARATORY JUDGMENT & INVALIDITY CHALLENGE. If a declaratory judgment action is brought naming
Novocodex and/or any of its Affiliates as a defendant, or a claim alleging invalidity or unenforceability of any Valid Claims within the Ambrx Existing Patent Rights, Novocodex shall promptly notify Ambrx in writing and Ambrx may elect, upon written
notice to Novocodex within thirty (30) days after Ambrx receives notice of the commencement of such action, to take over the defense of the invalidity and/or unenforceability aspect of the action solely. 

 

	7.4	 INFRINGEMENT ACTIONS BY THIRD PARTIES. 

 

	7.4.1	 NOTICE. Each Party shall notify the other Party promptly in writing of any claim of, or action for,
infringement of any Patent Rights owned or licensed by Third Parties which is threatened, made or brought against either Party by reason of either Party’s performance of its obligations under this Agreement or development, manufacture, use or
sale of any Licensed Products in the Territory. 

  

	7.4.2	 DEFENSE. In the event that such an action for infringement is commenced by a Third Party solely against a Party
or both Parties jointly and/or any of their respective Affiliates, as the case may be, with respect to a Licensed Product developed and commercialized by Novocodex and/or its Affiliate, Ambrx shall defend such action at its own expense, and
Novocodex hereby agrees to assist and cooperate with Ambrx to the extent necessary in the defense of such suit. Ambrx shall have the right to settle any such action or consent to an adverse judgment thereto, and Novocodex’s consent shall not be
required unless such settlement or consent: (i) imposes any material obligation on Novocodex or limits Ambrx’s obligations to Novocodex under this Agreement or (ii) materially impairs Novocodex’s rights herein. For clarity, any
payment including royalty payments to such Third Party as a result of such settlement shall not require Novocodex’s consent. 

  

	7.4.3	 PAYMENT OBLIGATION. During the pendency of any such action, Novocodex shall continue to pay all royalties and
other payments due hereunder. Ambrx shall retain any award or compensation (including the fair market value of non-monetary compensation) received by Ambrx as a result of any such action (i.e., as a result of
a counterclaim). 

 ARTICLE 8 

CONFIDENTIALITY & PUBLICATIONS 
  

	8.1	 NONDISCLOSURE OBLIGATION. EXCEPTIONS. Except to the extent expressly authorized by this Agreement the Parties
agree that, during the Term of this Agreement 

  
 25 

	 	
and for ten (10) years thereafter, each Party and its Affiliates, if any (collectively, a “receiving Party”), shall use their best efforts to keep Confidential
Information & Materials completely confidential, shall not publish or otherwise disclose to any Third Party and shall not use for any purpose other than the performance of this Agreement both the financial terms of this Agreement and any
information furnished to it by the other Party or its Affiliates, if any (collectively, a “disclosing Party”) (and shall ensure that its and its Affiliates’ respective directors, officers, employees or agents do likewise),
except to the extent that it can be established by the receiving Party by competent proof that such information: (i) is, or hereafter becomes, generally available to the public other than by reason of any default by the receiving Party with
respect to its confidentiality obligations hereunder; (ii) was already known to the receiving Party at the time of disclosure by the disclosing Party; (iii) was lawfully disclosed to the receiving Party by a Third Party not in default of
any confidentiality obligation to the disclosing Party; or (iv) is independently developed by or for the receiving Party without reference to or reliance upon the information furnished by the disclosing Party. 

 

	8.2	 EXCLUSIONS TO CONFIDENTIALITY. The restrictions contained in Section 8.1 shall not apply to any
Confidential Information & Materials in the hands of a receiving Party that (i) is submitted by the receiving Party to governmental authorities to facilitate the issuance of Marketing Authorization for Licensed Products in the
Territory, provided that reasonable measures shall be taken to assure confidential treatment of such information, if practicable, or (ii) is otherwise required to be disclosed in compliance with Applicable Laws (including, without limitation,
to comply with any governmental or stock exchange disclosure requirements) or an order by a court or other regulatory body having competent jurisdiction; provided, however, that if a receiving Party is required to make any such disclosure of the
disclosing Party’s Confidential Information & Materials such receiving Party shall, except where impracticable for necessary disclosures (for example to physicians conducting studies or to health authorities), give reasonable advance
notice to the other Party of such disclosure requirement and, except to the extent inappropriate in the case of patent applications or otherwise, will use its best efforts to secure confidential treatment of such Confidential Information &
Materials required to be disclosed. In addition, any press release or other public announcement permitted by the terms of Section 8.4 hereof shall be excluded from the provisions of Section 8.1. 

 

	8.3	 PUBLICATION. Novocodex and Ambrx each acknowledge the other Party’s interest in publishing the results of
its research in order to obtain recognition within the scientific community and to advance the state of scientific knowledge. Each Party also recognizes the mutual interest in obtaining valid patent protection and in protecting business interests
and trade secret information. Consequently, except for disclosures permitted pursuant to Section 8.2, either Party, its employees or consultants wishing to make a publication with respect to the development or clinical results regarding the
Licensed Products hereunder shall deliver to the other Party a copy of the proposed written publication or an outline of an oral disclosure at least sixty (60) days prior to submission for publication or presentation. The reviewing Party shall
have the right (a) to propose modifications to the publication or presentation for patent reasons, trade secret reasons or business reasons or (b) to request a reasonable delay in publication or presentation in order to protect patentable
information. If the reviewing Party requests a delay, the publishing Party shall 

  
 26 

	 	
delay submission or presentation for a period of one hundred and twenty (120) days to enable patent applications protecting each Party’s rights in such information to be filed in
accordance with Article 7 above. Upon expiration of such one hundred and twenty (120) days, the publishing Party shall be free to proceed with the publication or presentation. If the reviewing Party requests modifications to the publication or
presentation, the publishing Party shall edit such publication to prevent disclosure of trade secret or proprietary business information prior to submission of the publication or presentation. 

 

	8.4	 PUBLICITY/USE OF NAMES. No disclosure of the existence, or the terms, of this Agreement may be made by either
Party, and neither Party shall use the name, trademark, trade name or logo of the other Party, its Affiliates or their respective employees in any publicity, promotion, news release or disclosure relating to this Agreement or its subject matter,
without the prior express written permission of the other Party, except as may be required by Applicable Law or as permitted pursuant to Section 8.2; provided that in the event disclosure is required by Applicable Law, the disclosing Party
shall use good-faith efforts to give the non-disclosing Party an opportunity, with reasonable advance notice, to review and comment on any proposed disclosure. Notwithstanding Section 8.4 herein,
Novocodex and Ambrx shall make reasonable effort to issue a mutually agreed joint press releases as shown in Exhibit 8.4 regarding the execution of this Agreement and the cooperation between both Parties, provided further, any further press release
to be issued by one Party mentioning the execution of this Agreement or naming the other Party shall be approved in advance by the other Party. 

  

	8.5	 INJUNCTIVE RELIEF. The Parties acknowledge that monetary damages alone may not adequately compensate the
disclosing Party in the event of a material breach by the receiving Party of this ARTICLE 8, and that, in addition to all other remedies available to the disclosing Party under this Agreement, at law or in equity, to the extent permitted by
Applicable Laws, it shall be entitled to seek injunctive relief for the enforcement of its rights under this ARTICLE 8. 

ARTICLE 9 

REPRESENTATIONS AND WARRANTIES 
  

	9.1	 MUTUAL REPRESENTATIONS AND WARRANTIES. Each Party represents and warrants to the other Party the following as
of the Effective Date: 

  

	9.1.1	 CORPORATE POWER. Such Party is duly organized and validly existing under the laws of the country/state of its
organization, and has full legal and corporate power and authority to enter into this Agreement and to perform its obligations hereunder. 

  

	9.1.2	 DUE AUTHORIZATION AND EXECUTION. The execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby have been duly authorized by the necessary corporate actions of such Party. This Agreement has been duly executed by such Party. This Agreement and any other documents contemplated hereby constitute valid and legally
binding obligations of such Party enforceable against it in accordance with their respective terms, except to the extent that 

  
 27 

	 	
enforcement of the rights and remedies created thereby is subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general application affecting the rights and
remedies of creditors. 

  

	9.1.3	 NON-CONTRAVENTION. The execution, delivery and performance by such
Party of this Agreement and any other agreements and instruments contemplated hereunder will not (i) in any material respect violate any statute, regulation, judgment, order, decree or other restriction of any governmental authority to which
such Party is subject, (ii) violate any provision of the corporate charter, by-laws or other organizational documents of such Party, or (iii) constitute a material violation or breach by such Party
of any provision of any material contract, agreement or instrument to which such Party is a party or to which such Party may be subject although not a party. 

  

	9.2	 REPRESENTATIONS BY AMBRX. Ambrx represents and warrants to Novocodex the following as of the Effective Date:

  

	9.2.1	 to Ambrx’s knowledge, the Licensed Intellectual Property Rights exist and are not invalid or
unenforceable, in whole or in part; 

  

	9.2.2	 it has not previously (i) assigned, transferred, conveyed or otherwise encumbered its right, title and/or
interest in Licensed Intellectual Property Rights related to ARX305 in the Field in the Territory, or (ii) granted any rights to any Third Parties, in either case that would conflict with the rights granted to Novocodex hereunder;

  

	9.2.3	 to Ambrx’s knowledge, it is the sole and exclusive owner or sole and exclusive licensee of Licensed
Intellectual Property Rights related to ARX305 in the Territory, 

  

	9.2.4	 to Ambrx’s knowledge, there are no claims, judgments or settlements against or owed by Ambrx and, no
pending or threatened claims or litigation relating to Licensed Intellectual Property Rights in the Territory. 

  

	9.3	 REPRESENTATIONS BY NOVOCODEX. Novocodex represents, warrants and covenants to Ambrx that:

  

	9.3.1	 All necessary consents, approvals and authorizations of all regulatory authorities and other governmental
authorities and other persons or entities required to be obtained by Novocodex in order to enter into this Agreement have been obtained or, with respect to such consents, approvals and authorizations of regulatory authorities or other governmental
authorities that cannot be obtained before the Effective Date, will be obtained within sixty (60) days after the Effective Date. 

  

	9.3.2	 Novocodex, its Affiliates, and its and their respective principals, owners, officers, directors, employees,
agents, consultants, and joint venture partners, and any other party acting on behalf of Novocodex (collectively as “Novocodex Representatives”), have not and shall not offer, promise, provide, or accept any item of value (broadly
meaning any monetary payment, such as fees or commissions, or nonmonetary benefit, such as employment opportunities, gifts, travel or entertainment), directly or indirectly, to or from any person in exchange for a business advantage; 

  
 28 

	9.3.3	 All Novocodex Representatives shall abide by all applicable anti-bribery and corruption laws, including the
United States Foreign Corrupt Practices Act of 1977 and any other international or local laws of a similar nature or having similar effect now existing or to be enacted in the future; 

 

	9.3.4	 No principal, owner, officer, director, employee or agent of Novocodex or its Affiliates is currently a
“Government Official,” defined as: (a) an officer, agent or employee of a government; or (b) a candidate for government or political office. 

 

	9.3.5	 No Government Official who is closely related to a Novocodex Representative has been or will be, directly or
indirectly, involved in influencing, obtaining, or retaining business on behalf of Novocodex or fulfilling Novocodex’s obligations to Ambrx under this Agreement; 

 

	9.3.6	 No Novocodex Representative (i) is listed on the Office of Foreign Assets Control’s
(“OFAC”) “Specially Designated National and Blocked Person List” (“SDN List”) or otherwise subject to any sanction administered by OFAC (“U.S. Economic Sanctions”); (ii) is owned,
controlled by or acting on behalf of, directly or indirectly, any person, entity, or government listed on the SDN List or otherwise subject to any U.S. Economic Sanction; (iii) has made sales to, contracted with, or otherwise engaged in any
dealing or transaction with or for the benefit of any person, entity, or government listed on the SDN List or otherwise subject to any U.S. Economic Sanction during the previous five years; or (iv) has used, directly or indirectly, any
corporate funds to contribute to or finance the activities of any person, entity, or government listed on the SDN List or otherwise subject to any U.S. Economic Sanction. 

 

	9.3.7	 Novocodex and its Affiliates (i) are in compliance in all material respects with all Applicable Laws
relating to anti-money laundering, and (ii) are not and have not been part of any proceedings (nor is any such proceeding pending or threatened) with respect to any such laws. 

 

	9.3.8	 Both the Ambrx Existing Patent Rights and the Ambrx Know-How are
permitted to be imported into China under PRC law, and none of it falls within the PRC categories for technologies that are restricted or prohibited from being imported. 

 

	9.3.9	 Novocodex and its Affiliates will use the Ambrx Existing Patent Rights and Ambrx
Know-How solely for the purpose of the development, use, manufacture or sale of the Licensed Products in Territory strictly in accordance with the terms of this Agreement and not for any other purpose.

  

	9.3.10	 Novocodex and its Affiliates shall invest sufficient resources and funds and use Commercially Reasonable
Efforts to achieve Novocodex Follow-up Events so as to develop and commercialize Licensed Product in the Territory and obtain Phase I Clinical Data outside the Territory. 

ARTICLE 10 

INDEMNIFICATION & INSURANCE 

  
 29 

	10.1	 INDEMNIFICATION BY NOVOCODEX. Novocodex hereby agrees to indemnify, hold harmless and defend Ambrx, its
Affiliates and their respective officers, directors, agents, employees, successors and assigns (collectively, the “Ambrx Indemnified Parties”) against any and all losses, costs, expenses, fees or damages arising out of or relating
to claims, allegations, suits, actions or proceedings asserted by any Third Party, whether governmental or private, arising out of or relating to (i) the development, manufacture, use, sale or other disposition of Licensed Products by Novocodex
or its Affiliates or sublicensees under this Agreement, (ii) failure to perform its obligations under this Agreement by Novocodex, its Affiliates or their respective officers, directors, agents or employees, (iii) the breach of any of
Novocodex’s covenants, representations or warranties under this Agreement, or (iv) the negligence or willful misconduct by Novocodex, its Affiliates or their respective officers, directors, agents or employees, in performing any
obligations under this Agreement. 

  

	10.2	 INDEMNIFICATION BY AMBRX. Ambrx hereby agrees to indemnify, hold harmless and defend Novocodex, its Affiliates
and their respective officers, directors, agents, employees, successors and assigns (collectively, the “Novocodex Indemnified Parties”) against any and all losses, costs, expenses, fees or damages arising out of or relating to
claims, allegations, suits, actions or proceedings asserted by any Third Party, whether governmental or private, arising out of or relating to (i) failure to perform its obligations under this Agreement by Ambrx, its Affiliates or their
respective officers, directors, agents or employees, (ii) the breach of any of AMBRX’s covenants, representations or warranties under this Agreement, or (iii) the negligence or willful misconduct by Ambrx, its Affiliates or their
respective officers, directors, agents or employees, in performing any obligations under this Agreement. 

  

	10.3	 PROCEDURE. If a Party is seeking indemnification under Article 10 (the “Indemnified Party”),
it shall inform the other Party (the “Indemnifying Party”) of the claim giving rise to the obligation to indemnify pursuant to Article 10 as soon as reasonably practicable after receiving notice of the claim (provided, however, any
delay or failure to provide such notice shall not constitute a waiver or release of, or otherwise limit, the Indemnified Party’s rights to indemnification under, as applicable, Article 10 except to the extent that such delay or failure
materially prejudices the Indemnifying Party’s ability to defend against the relevant claims). The Indemnifying Party shall have the right to assume the defense of any such claim for which it is obligated to indemnify the Indemnified Party. The
Indemnified Party shall cooperate with the Indemnifying Party and the Indemnifying Party’s insurer as the Indemnifying Party may reasonably request, and at the Indemnifying Party’s cost and expense. The Indemnified Party shall have the
right to participate, at its own expense and with counsel of its choice, in the defense of any claim or suit that has been assumed by the Indemnifying Party. The Indemnifying Party shall not settle any claim without the prior written consent of the
Indemnified Party, which the Indemnifying Party may provide in its sole discretion. The Indemnified Party shall not settle or compromise any such claim without the prior written consent of the Indemnifying Party, not to be unreasonably withheld.

  

	10.4	 INSURANCE. 

  
 30 

	10.4.1	 AMOUNT. Beginning the First Commercial Sale of Licensed Product by Novocodex or by an Affiliate, Novocodex
shall, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts decided by the JSC and naming Ambrx as additional insured. During clinical trials of Licensed Product in the Territory, Novocodex shall, at
its sole cost and expense, procure and maintain commercial general liability insurance in such equal or lesser amount as Ambrx shall require, naming Ambrx as additional insured. During the Phase I clinical trials of Licensed Product outside the
Territory, Ambrx shall procure and maintain commercial general liability insurance in such equal or lesser amount as Novocodex shall require, naming Novocodex as additional insured. Such commercial general liability insurance shall provide:
(a) product liability coverage and (b) broad form contractual liability coverage for Novocodex’s and Ambrx’s indemnification obligations under this Agreement. 

 

	10.4.2	 EVIDENCE. Novocodex shall provide Ambrx with written evidence of such insurance upon request of Ambrx.
Novocodex shall provide Ambrx with written notice at least fifteen (15) days prior to the cancellation, non-renewal or material change in such insurance. 

 

	10.4.3	 MAINTENANCE. Novocodex shall maintain such commercial general liability insurance beyond the expiration or
termination of this Agreement during: (a) the period that any Licensed Product is being commercially distributed or sold by Novocodex or its Affiliate and (b) a reasonable period after the period referred to in (a) above which
in no event shall be less than ten (10) years. 

 ARTICLE 11 

TERM & TERMINATION 
  

	11.1	 TERM. The term of this Agreement shall commence on the Effective Date and, unless earlier terminated as
provided in this Article 11, shall continue in full force and effect until the expiration of the Royalty Term with respect to Licensed Products in Territory (the “Term”). 

 

	11.2	 EFFECT OF EXPIRATION. Following the expiration of this Agreement with respect to Licensed Product in the
Territory pursuant to Section 11.1, Novocodex shall have the royalty-free, perpetual right to continue to make, have made, use, sell, offer for sale, have sold and export such Licensed Product In the Territory. 

 

	11.3	 TERMINATION BY NOVOCODEX. Novocodex may terminate this Agreement upon six (6) months prior written notice
to Ambrx. 

  

	11.4	 TERMINATION FOR DEFAULT. Each Party shall have the right to terminate this Agreement, upon notice to the other
Party, in the event that: 

  

	11.4.1	 Such other Party materially defaults with respect to any of its material obligations under this Agreement and
does not cure such default within sixty (60) days after the receipt of a notice from the non-breaching Party specifying the nature of, and requiring the remedy of, such default (or, if such default cannot
be cured within such sixty (60)-day period, if 

  
 31 

	 	
the breaching Party does not commence and diligently continue actions to cure same during such sixty (60)-day period); 

 

	11.4.2	 The other Party shall have: (i) voluntarily commenced any proceeding or filed any petition seeking relief
under the bankruptcy, insolvency or other similar laws of any jurisdiction, (ii) applied for, or consented to, the appointment of a receiver, trustee, custodian, sequestrator, conciliator, administrator or similar official for it or for all or
substantially all of its property, (iii) filed an answer admitting the material allegations of a petition filed against or in respect of it in any such proceeding, (iv) made a general assignment for the benefit of creditors of all or
substantially all of its assets, (v) admitted in writing its inability to pay all or substantially all of its debts as they become due, or (vi) taken corporate action for the purpose of effecting any of the foregoing; or

  

	11.4.3	 An involuntary proceeding shall have been commenced, or any involuntary petition shall have been filed, in a
court of competent jurisdiction seeking: (i) relief in respect of the other Party, or of its property, under the bankruptcy, insolvency or similar laws of any jurisdiction, (ii) the appointment of a receiver, trustee, custodian,
sequestrator, conciliator, administrator or similar official for such other Party or for all or substantially all of its property, or (iii) the winding-up or liquidation of such other Party; and, in each
case, such proceeding or petition shall have continued undismissed for sixty (60) days, or an order or decree approving or ordering any of the foregoing shall have continued unstayed, unappealed and in effect for thirty (30) days.

  

	11.5	 EFFECT OF TERMINATION. 

 

	11.5.1	 TERMINATION OF RIGHTS. 

 

	 	i.	 Upon termination of this Agreement by Ambrx pursuant to Section 11.4 or by Novocodex pursuant to
Section 11.3, (i) the rights and licenses granted to Novocodex under Sections 2.1, 2.2, 2.3, and 2.4 shall terminate, all rights therein or under will revert to Ambrx and neither Novocodex nor its Affiliates may make, develop, manufacture, have
manufactured, sell, offer for sale and have sold Licensed Products in the Territory; (ii) the rights and licenses granted to Ambrx under Sections 2.6 and 2.7 will revert back to Novocodex, provided however, Novocodex shall not assert against
Ambrx, its Affiliates or sublicensees any claims for infringement of the reverted rights in the event Ambrx and/or its Affiliate and/or sublicensees continue to make, develop, manufacture, have manufactured, sell, offer for sale and have sold
Licensed Products; and (iii) any existing agreements that contain a sublicense shall terminate to the extent of such sublicense; provided, however, that, for each sublicensee, upon termination of the sublicense agreement with such sublicensee,
if the termination is not caused by any action or inaction of the sublicensee, such sublicensee shall have the right to seek a license from Ambrx at Ambrx’s sole discretion. 

 

	 	ii.	 Upon termination of this Agreement by Novocodex pursuant to Section 11.4, (i) the rights and licenses
granted to Novocodex under Sections 2.1, 2.2, 2.3 and 2.4 shall terminate, all rights therein or under will revert to Ambrx and neither 

  
 32 

	 	
Novocodex nor its Affiliates may make any further develop, manufacture, have manufactured, sell, offer for sale and have sold Licensed Products in the Territory; and (ii) rights and licenses
granted to Ambrx under Sections 2.6 and 2.7 will revert to Novocodex. 

  

	11.5.2	 NO RELEASE. Termination of this Agreement for any reason shall not release any Party hereto from any
liability which, at the time of such termination, has already accrued to the other Party or which is attributable to a period prior to such termination, nor preclude either Party from pursuing any rights and remedies it may have hereunder or at law
or in equity which accrued or are based upon any event occurring prior to such termination. 

  

	11.5.3	 RIGHTS TO SELL STOCK ON HAND. After the date of termination, Novocodex and its Affiliates (a) may sell
Licensed Products then in stock and (b) may complete the production of Licensed Products then in the process of production and sell the same; provided that, in the case of both (a) and (b), Novocodex shall pay the applicable royalties and
payments to Ambrx in accordance with Article 6. 

  

	11.5.4	 TRANSFER OF INFORMATION, MATERIALS AND REGULATORY FILINGS AND. Notwithstanding the foregoing, upon termination
of this Agreement by either party pursuant to Section 11.4 or by Novocodex pursuant to Section 11.3, Novocodex shall promptly transfer and assign to Ambrx ownership of all preclinical data, clinical data, regulatory filings and any other
information and materials as necessary for Ambrx, its Affiliate or successor to continue to develop and commercialize the Licensed Product or ARX305 in the Territory, Phase I Clinical Data in a jurisdiction outside the Territory to the extent
permissible by Applicable Law; if such transfer and assignment is not legally permitted, Novocodex shall provide Ambrx with the right to reference, cross-reference, review, have access to, incorporate and use all documents and other materials filed
by or on behalf of Novocodex and its Affiliates with any Regulatory Authority in furtherance of applications for Marketing Authorization in the Territory or outside the Territory with respect to Licensed Product. Ambrx shall be entitled to freely
and exclusively use and to grant others the right to use all such materials and documents delivered pursuant to this Section 11.5.4. 

  

	11.5.5	 RETURN OF CONFIDENTIAL INFORMATION & MATERIALS. Upon any termination of this Agreement, each Party
shall promptly return to the other Party all Confidential Information & Materials or Know-How received from the other Party, except as reasonably required to exercise any surviving rights or licenses
hereunder. 

  

	11.6	 ACCRUED RIGHTS; SURVIVAL. 

 

	11.6.1	 Termination or expiration of this Agreement for any reason shall be without prejudice to any rights which shall
have accrued to the benefit of either Party prior to such termination or expiration. Such termination or expiration shall not relieve either Party from obligations which are expressly indicated to survive termination or expiration of this Agreement.
The rights of the Parties upon termination described in this Agreement shall not be exclusive of any other rights or claims at law or in equity that either Party may have against the other arising out of this Agreement. 

  
 33 

	11.6.2	 Termination, relinquishment or expiration of this Agreement shall not terminate each Party’s obligation to
pay all royalties, milestone or follow-up payments and other monetary obligations that may have accrued hereunder prior to such termination. All of the Parties’ rights and obligations under Sections 2.10,
7.1, 7.2, 7.3, and 7.4, and ARTICLE 1, ARTICLE 8, ARTICLE 10, ARTICLE 11, ARTICLE 12, ARTICLE 13 and ARTICLE 14 shall survive termination, relinquishment or expiration hereof. 

ARTICLE 12 
 LIMITATIONS
OF LIABILITY 
  

	12.1	 EXCLUSION OF DAMAGE. EXCEPT WITH RESPECT TO ARTICLE 8 (CONFIDENTIALITY), ARTICLE 9 (REPRESENTATIONS AND
WARRANTIES) AND ARTICLE 10 (INDEMNIFICATION), IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, OR PUNITIVE DAMAGES INCURRED BY SUCH PARTY ARISING UNDER OR AS A RESULT OF THIS AGREEMENT (OR THE
TERMINATION HEREOF) INCLUDING, BUT NOT LIMITED TO, THE LOSS OF PROSPECTIVE PROFITS OR ANTICIPATED SALES, OR ON ACCOUNT OF EXPENSES, INVESTMENTS, OR COMMITMENTS IN CONNECTION WITH THE BUSINESS OR GOODWILL OR OTHERWISE, EVEN IF AN AUTHORIZED
REPRESENTATIVE OF SUCH PARTY IS ADVISED OF THE POSSIBILITY OR LIKELIHOOD OF SAME. 

  

	12.2	 MAXIMUM LIABILITY. EXCEPT FOR NOVOCODEX’S PAYMENT OBLIGATIONS HEREUNDER AND EXCEPT WITH RESPECT TO ARTICLE
8 (CONFIDENTIALITY), ARTICLE 9 (REPRESENTATIONS AND WARRANTIES) AND ARTICLE 10 (INDEMNIFICATION), EACH PARTY’S MAXIMUM LIABILITY TO THE OTHER PARTY FOR ANY KIND OF LOSS, DAMAGE OR LIABILITY ARISING UNDER OR IN CONNECTION WITH ITS PERFORMANCE OR
BREACH HEREOF, UNDER ANY THEORY OF LIABILITY, SHALL NOT EXCEED [***] ($[***]).  

  

	12.3	 FAILURE OF ESSENTIAL PURPOSE. The limitations specified in this ARTICLE 12 shall survive and apply even if any
limited remedy specified in this Agreement is found to have failed of its essential purpose. 

 ARTICLE 13 

DISPUTE RESOLUTION 
  

	13.1	 DISPUTES. Subject to 13.2, upon the written request of either Party to the other Party, any claim, dispute, or
controversy as to the breach, enforcement, interpretation or validity 

  
 34 

	 	
of this Agreement (a “Dispute”) will be referred to the Executive Officers (or such Executive Officer’s designee with decision-making authority) for attempted resolution. In
the event such executives are unable to resolve such Dispute within 30 days after the initial written request, then, upon the written demand of either Party, the Dispute shall be subject to arbitration, as provided in Section 13.2, except
as expressly set forth in 13.2. 

  

	13.2	 ARBITRATION. Any Dispute that cannot be resolved pursuant to Section 13.1 will be referred to and finally
resolved by arbitration in accordance with the International Chamber of Commerce (the “Rules”) by the Hong Kong International Arbitration Centre (“HKIAC”), by an arbitral tribunal composed of three
(3) arbitrators, with each Party appointing one (1) arbitrator and the third arbitrator to be selected by mutual agreement of the two (2) arbitrators appointed by the Parties. The foregoing arbitration proceedings may be commenced by
either Party by notice to the other Party. All arbitration proceedings will be conducted in the English language. The allocation of expenses of the arbitration, including reasonable attorney’s fees, will be determined by the arbitrators, or, in
the absence of such determination, each Party will pay its own expenses. All rulings by the arbitrators will be final. 

  

	13.3	 EXCEPTIONS. Nothing contained in this Agreement shall deny either Party the right to seek, upon good cause,
injunctive or other equitable relief from a court of competent jurisdiction in the context of an emergency or prospective irreparable harm, and such an action may be filed and maintained notwithstanding any ongoing dispute resolution discussions or
arbitration proceedings. In addition, either Party may bring an action in any court of competent jurisdiction to resolve disputes pertaining to the validity, construction, scope, enforceability, infringement or other violations of Patent Rights or
other intellectual property rights, and no such claim shall be subject to arbitration pursuant to 13.2. 

 ARTICLE 14

 MISCELLANEOUS 
  

	14.1	 FORCE MAJEURE. Neither Party shall be held liable to the other Party nor be deemed to have defaulted under or
breached this Agreement for failure or delay in performing any obligation under this Agreement to the extent that such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, potentially including,
embargoes, war, acts of war (whether war be declared or not), acts of terrorism, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, fire, floods, or other acts of God, or acts, omissions or delays in acting by any
governmental authority or the other Party. The affected Party shall notify the other Party of such force majeure circumstances as soon as reasonably practical, and shall promptly undertake all reasonable efforts necessary to cure such force majeure
circumstances. 

  

	14.2	 ASSIGNMENT. Except as provided in this Section 14.2, this Agreement may not be assigned or otherwise
transferred, nor may any right or obligation hereunder be assigned or transferred, by either Party without the consent of the other Party. Notwithstanding 

  
 35 

	 	
the foregoing, either Party may, without the other Party’s consent, assign this Agreement and its rights and obligations hereunder in whole or in part to an Affiliate; provided, however,
that the assigning party must notify the other party at least twenty (20) days prior to completion of any such assignment. Further, each party may assign this Agreement to any assignee of all or substantially all of such Party’s business
to a successor in interest in connection with the transfer or sale of all or substantially all of its business or assets to which this Agreement relates, or in the event of such Party’s merger, consolidation or similar transaction. Any
permitted assignee shall assume all obligations of its assignor under this Agreement. This Agreement is binding upon the permitted successors and assigns of the Parties. Any attempted assignment not in accordance with this Section 14.2 shall be
void. 

  

	14.3	 SEVERABILITY. If any one or more of the provisions contained in this Agreement is held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the
substantive rights of the Parties. The Parties shall in such an instance use their good faith efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement
the purposes of this Agreement. 

  

	14.4	 NOTICES. All notices which are required or permitted hereunder shall be in writing and sufficient if delivered
personally, sent by facsimile (and promptly confirmed by personal delivery, registered or certified mail or overnight courier), sent by internationally-recognized overnight courier or sent by registered or certified mail, postage prepaid, return
receipt requested, addressed as follows: 

  

					
	If to Ambrx, to:	 		  	Ambrx, Inc.
		 		  	10975 North Torrey Pines Road
		 		  	La Jolla, CA 92037
		 		  	Attn: Office of General Counsel
		 	          	  	Facsimile No.:
		
		 	With a copy to:
		 		  	Goodwin Procter LLP
		 		  	One Exchange Square
		 		  	Suite 2801, 8 Connaught Place
		 		  	Central, Hong Kong
		 		  	Attn: Wenseng “Wendy” Pan, Esq.
		 		  	Facsimile No.:
			
	If to Novocodex, to:	 		  	NovoCodex Biopharmaceuticals Ltd.,
		 		  	 398 Mahuan Road, Binhaixincheng, Shaoxing,

Zhejiang 312366, the People’s Republic of China

		 		  	Attn: Zhenlan Hu
		 		  	Facsimile No.:

  
 36 

 or to such other address(es) as the Party to whom notice is to be given may have furnished
to the other Party in writing in accordance herewith. Any such notice shall be deemed to have been given: (a) when delivered, if personally delivered or sent by facsimile on a business day (or if delivered or sent on a non-business day, then on the next business day); (b) on the business day after dispatch, if sent by internationally-recognized overnight courier; or (c) on the fifth (5th) business day following the date of
mailing, if sent by mail. 
  

	14.5	 APPLICABLE LAW. This Agreement shall be governed by and construed in accordance with the laws of the Hong Kong
Special Administrative Region, without reference to any rules of conflict of laws or renvoi. The United Nations Convention on the Sale of Goods shall not apply to this Agreement. All disputes arising from or in connection with this Agreement
shall be submitted for arbitration in accordance with the UNCITRAL Arbitration Rules in accordance with the HKIAC Procedures for the Administration of International Arbitration in force at the date of this Agreement. The place of arbitration shall
be in Hong Kong at Hong Kong International Arbitration Centre. 

  

	14.6	 ENTIRE AGREEMENT; AMENDMENTS. This Agreement together with the Schedules hereto contains the entire
understanding of the Parties with respect to the subject matter hereof, including the research program and the licenses granted hereunder. Any other express or implied agreements and understandings, negotiations, writings and commitments, either
oral or written, with regard to the subject matter hereof, including the research program and/or the licenses granted hereunder, are superseded by the terms of this Agreement. The Schedules to this Agreement are incorporated herein by reference and
shall be deemed a part of this Agreement. This Agreement may be amended, or any term hereof modified, only by a written instrument duly executed by authorized representatives of both Parties hereto. 

 

	14.7	 HEADINGS AND INTERPRETATION. The captions to the several Articles and Sections and subsections hereof are not a
part of this Agreement, but are merely for convenience to assist in locating and reading the several Articles and Sections hereof. Any reference in this Agreement to an Article, Section, subsection, paragraph, clause, or Schedule or Exhibit shall be
deemed to be a reference to an Article, Section, subsection, paragraph, clause, or Schedule or Exhibit, of or to, as the case may be, this Agreement, unless otherwise indicated. Unless the context of this Agreement otherwise requires, (a) words
of any gender include each other gender, (b) words such as “herein”, “hereof”, and “hereunder” refer to this Agreement as a whole and not merely to the particular provision in which such words appear,
(c) words using the singular shall include the plural, and vice versa, (d) whenever any provision of this Agreement uses the term “including” (or “includes” or words of similar import), such term shall not be limiting
and such term shall be deemed to mean “including without limitation” (or “includes without limitation”), (e) the word “or” shall not be construed as exclusive, and (f) references to any Articles or Sections include
Sections and subsections that are part of the reference Article or section (e.g., a section numbered “Section 2.2.1” would be part of “Section 2.2.”, and references to “Article 2” or
“Section 2.2.” would refer to material contained in the subsection described as “Section 2.2.2”). 

  
 37 

	14.8	 INDEPENDENT CONTRACTORS. It is expressly agreed that Ambrx and Novocodex shall be independent contractors and
that the relationship between the Parties shall not constitute a partnership, joint venture or agency. Neither Ambrx nor Novocodex shall have the authority to make any statements, representations or commitments of any kind, or to take any action,
which shall be binding on the other Party, without the prior written consent of the other Party. 

  

	14.9	 WAIVER. The waiver by either Party hereto of any right hereunder, or of any failure of the other Party to
perform, or of any breach by the other Party, shall not be deemed a waiver of any other right hereunder or of any other breach by or failure of such other Party, whether of a similar nature or otherwise. 

 

	14.10	 CUMULATIVE REMEDIES. No remedy referred to in this Agreement is intended to be exclusive, but each shall be
cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law. 

  

	14.11	 WAIVER OF RULE OF CONSTRUCTION. Each Party has had the opportunity to consult with counsel in connection with
the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply. 

 

	14.12	 BUSINESS DAY REQUIREMENTS. In the event that any notice or other action or omission is required to be taken by
a Party under this Agreement on a day that is not a business day then such notice or other action or omission shall be deemed to be required to be taken on the next occurring business day. 

 

	14.13	 COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. For purposes hereof, a scanned copy of this Agreement, including the signature pages hereto, will be deemed to be an original. 

 

	14.14	 PRC REGULATORY MATTERS. Novocodex shall be responsible for any and all PRC related regulatory approvals,
registrations and/or filings in connection with performance of this Agreement, including without limitation registering this Agreement with competent commission of commerce and providing registration certificate to Ambrx within sixty (60) days
after execution of this Agreement. Before Novocodex’s filing or submission of any reports or other documents with any PRC governmental authority or securities exchange, it shall provide copies of any such reports or documents to be filed or
submitted to Ambrx for its prior consents; after regulatory approvals, registrations and/or filings are completed, Novocodex shall provide a copy of relevant certificates to Ambrx immediately. 

 

	14.15	 EXPORT LAWS. Notwithstanding anything to the contrary contained herein, all obligations of Ambrx and Novocodex
are subject to prior compliance with the export regulations of the United States and any other relevant country and such other laws and regulations in effect in the United States and/or any other relevant country as may be applicable, and to
obtaining all necessary approvals required by the applicable agencies 

  
 38 

	 	
of the governments of the United States and any other relevant countries. Ambrx and Novocodex shall cooperate with each other and shall provide assistance to the other as reasonably necessary to
obtain any required approvals. 

  

	14.16	 FURTHER ACTIONS. Each Party will execute, acknowledge and deliver such further instruments, and to do all such
other ministerial, administrative or similar acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 

  

	14.17	 NO THIRD PARTY RIGHTS. The provisions of this Agreement are for the exclusive benefit of the Parties, and no
other person or entity shall have any right or claim against any Party by reason of these provisions or be entitled to enforce any of these provisions against any Party. 

 

	14.18	 EXPENSES. Except as otherwise specifically provided in this Agreement, each Party (and its Affiliates) shall
bear its own costs and expenses in connection with entering into this Agreement and the consummation of the transactions and performance of its obligations contemplated hereby. 

 

	14.19	 EXTENSION TO AFFILIATES. Novocodex shall have the right to extend the rights, licenses, immunities and
obligations granted in this Agreement to one or more of its Affiliates. All applicable terms and provisions of this Agreement shall apply to any such Affiliate to which this Agreement has been extended to the same extent as such terms and provisions
apply to Novocodex. Novocodex shall remain fully liable for any acts or omissions of such Affiliates. 

  

	14.20	 LANGUAGE. The official text of this Agreement is in the English language as written and spoken in the United
States of America. Any text or version of this Agreement in another language, even if such text or version is made by translation or prepared by or executed by one or both of the Parties for a Party’s convenience shall not be binding and shall
have no force or effect. Without limiting the foregoing, in the event of any conflict or inconsistency between the English text of this Agreement and any text or version of this Agreement in another language, the English text of this Agreement will
prevail. 

 [Remainder of this page is left intentionally blank] 

  
 39 

 IN WITNESS WHEREOF, the Parties have executed this
Co-Development and License Agreement as of the Effective Date. 
  

			
	NOVOCODEX BIOPHARMACEUTICALS LTD.
		
	By: 签字:	 	 /s/ Xuejun Liang

		
	Name: 姓名 :	 	 Xuejun Liang

		
	Title: 职位:	 	

  

			
	AMBRX, INC.
		
	By: 签字:	 	 /s/ Feng Tian

		
	Name: 姓名 :	 	 Feng Tian

		
	Title: 职位:	 	 CEO

  
 40 

 Exhibits 

Exhibit 1.1: Structure of ARX305 

[***] 
 [***]AS269 

[***] 
 [***] 

[***] 

 Exhibit 1.5: List of Ambrx Existing Patent Rights 

[See attached] 

 Exhibit 1.28: Global Development Plan 

To be adopted by the JSC within 60 days after the Effective Date. 

 Exhibit 3.1: Initial Members of Joint Steering Committee 

 

			
	Ambrx	  	NovoCodex
	Shawn Zhang	  	Gang Xia
	Ying Buechler	  	Hongjun Jiang
	Sulan Yao	  	Jingjing Zhu

 Exhibit 8.4: Draft Joint Press Release 

Ambrx and NovoCodex form Second Collaboration to Develop and 

Commercialize Ambrx’s Antibody Drug Conjugates 

SAN DIEGO and SHANGHAI, October 22, 2019 /PRNewswire/ — Ambrx and NovoCodex Biopharmaceuticals Ltd., (NovoCodex), a majority owned
company of Zhejiang Medicine Co Ltd., today announced that they have formed a second collaboration to develop and commercialize Ambrx’s internally developed site-specific antibody drug conjugates (ADCs). Under the agreement, Ambrx and NovoCodex
will join forces to continue the development of ARX305, an Ambrx enabled ADC for the treatment of CD70 positive cancers. 
 Under the terms
of the agreement, NovoCodex is responsible for developing and commercializing ARX305 in China while Ambrx is responsible for developing and commercializing ARX305 outside of China. NovoCodex will fund global development activities to the end of
Phase 1 clinical trials and pay Ambrx an undisclosed upfront payment, development milestones, and a double digit royalty on product sales in China. NovoCodex is also eligible to share in undisclosed portion of ARX305 product sales outside of China.

 “We are excited to initiate our second collaboration with NovoCodex following our successful collaboration with ARX788, which is
currently in Phase 1 clinical trials for HER2 positive breast and gastric cancers. ARX305 is a natural extension to the first collaboration with the inclusion of another Ambrx enabled ADC that is intended to treat CD70 positive cancers such as Renal
Cell Carcinoma and Multiple Myeloma. Further, we continue to align ourselves with China’s leading pharmaceutical companies” said Feng Tian, Ph.D., Chief Executive Officer of Ambrx. “ARX305, which is expected to start Phase 1 clinical
trials in early 2021, allows Ambrx to expand its ADC pipeline into multiple cancer types while gaining access to the China market through our partnership with NovoCodex.” 

Chunbo Li, Chairman of Zhejiang Medicine, commented, “The smooth progress of our first ZMC-Ambrx
collaborated ADC project, ARX788, proves that Ambrx’ technology is one of the best methods to make an ADC drug. The new alliance with Ambrx on ARX305 will strengthen our leading position on ADC research, and hopefully will bring new treatment
to related cancer patients.” 
 About Ambrx 

Ambrx Inc. is a clinical stage biopharmaceutical company using an expanded genetic code to create first- and/or
best-in-class biotherapeutics, including antibody drug conjugates (ADC), immunomodulating proteins, bispecific antibodies and other therapeutic proteins with improved
pharmacologic properties. Leveraging the Ambrx proprietary technology platforms, Ambrx has collaborations with Bristol-Myers Squibb, Astellas, BeiGene, Elanco and ZMC, with drug products generated using Ambrx technology in different stages of
clinical trials. Ambrx is advancing a robust portfolio of product candidates that are optimized for efficacy, safety and ease of use in multiple therapeutic areas. For additional information, visit www.ambrx.com 

 About ARX305 

CD70 is highly expressed in multiple solid and liquid tumors such as Renal Cell Carcinoma, Multiple Myeloma,
Non-Hodgkin’s Lymphoma, AML, and etc. ARX305 is a best-in-class anti-CD70 ADC that was precision-engineered using Ambrx
proprietary antibody and clinically validated drug payload. Strong in vitro and in vivo efficacy have been demonstrated in multiple tumor cells and models. It is expected to deliver a direct killing to CD70-overexpressing tumor and improvement of
the immune suppression in the tumor microenvironment. 
 About NovoCodex 

NovoCodex is a majority owned company of Zhejiang Medicine Co., Ltd. (stock code: SH.600216), mainly committed to the research and development
of biological products. The company’s laboratory has experience and capabilities in genetic engineering, cell culture, toxin synthesis, conjugation, formulation & filling, preclinical study and clinical study. ARX788 project has been
successfully advanced to the later stage of phase 1 clinical trial in China. The company is building a protein drug development platform with the insertion of unnatural amino acids as the core technology to develop a variety of long-acting protein
drugs. For additional information, visit http://www.novocodex.cn/.

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