Document:

EX-10.1

 Exhibit 10.1 

CERTAIN CONFIDENTIAL INFORMATION, MARKED BY [***], HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT
THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 EXECUTION VERSION 

LICENSE AGREEMENT 

between 
 SANOFI

 and 
 GLOBAL
BLOOD THERAPEUTICS 
 Dated as of March 12, 2021 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE 1 DEFINITIONS
	  	 	1	 
		
	 ARTICLE 2 GRANT OF RIGHTS
	  	 	12	 
			
	 2.1
	  	Grants to Licensee	  	 	12	 
	 2.2
	  	Retention of Rights	  	 	12	 
	 2.3
	  	Sublicenses	  	 	12	 
	 2.4
	  	No Implied Rights	  	 	12	 
	 2.5
	  	Disclosure of Licensed Know-How	  	 	12	 
	 2.6
	  	Transferred Materials	  	 	13	 
	 2.7
	  	Technical Assistance	  	 	13	 
	 2.8
	  	Exclusivity	  	 	13	 
		
	 ARTICLE 3 DEVELOPMENT AND REGULATORY
	  	 	14	 
			
	 3.1
	  	Development	  	 	14	 
	 3.2
	  	Development Diligence	  	 	14	 
	 3.3
	  	Reports	  	 	14	 
	 3.4
	  	Records	  	 	14	 
	 3.5
	  	Subcontracting	  	 	15	 
	 3.6
	  	Compliance	  	 	15	 
	 3.7
	  	Regulatory	  	 	15	 
		
	 ARTICLE 4 COMMERCIALIZATION
	  	 	15	 
			
	 4.1
	  	In General	  	 	15	 
	 4.2
	  	Commercialization Diligence	  	 	15	 
	 4.3
	  	Subcontracting	  	 	15	 
	 4.4
	  	Compliance	  	 	15	 
	 4.5
	  	Sales and Distribution	  	 	15	 
		
	 ARTICLE 5 MANUFACTURE AND SUPPLY
	  	 	16	 
			
	 5.1
	  	In General	  	 	16	 
	 5.2
	  	Subcontracting	  	 	16	 
	 5.3
	  	Compliance	  	 	16	 
		
	 ARTICLE 6 PAYMENTS
	  	 	16	 
			
	 6.1
	  	Upfront Payment	  	 	16	 
	 6.2
	  	Milestones	  	 	16	 
	 6.3
	  	Royalties	  	 	18	 
	 6.4
	  	Sublicense Revenue Sharing	  	 	20	 
	 6.5
	  	Transer Revenue Sharing	  	 	20	 
	 6.6
	  	Payment Dates and Reports	  	 	21	 
	 6.7
	  	Mode of Payment; Currency Conversion	  	 	21	 
	 6.8
	  	Taxes	  	 	21	 
	 6.9
	  	Interest on Late Payments	  	 	21	 
	 6.10
	  	Financial Records	  	 	22	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
	 6.11
	  	Audit	  	 	22	 
	 6.12
	  	Audit Dispute	  	 	22	 
	 6.13
	  	Confidentiality	  	 	23	 
		
	 ARTICLE 7 INTELLECTUAL PROPERTY
	  	 	23	 
			
	 7.1
	  	Ownership of Arising Information and Inventions	  	 	23	 
	 7.2
	  	Prosecution and Maintenance of Patents	  	 	23	 
	 7.3
	  	Enforcement of Patents	  	 	24	 
	 7.4
	  	Infringement Claims by Third Parties	  	 	25	 
	 7.5
	  	Invalidity or Unenforceability Defenses or Actions	  	 	26	 
	 7.6
	  	Third Party Licenses	  	 	27	 
	 7.7
	  	Product Trademarks	  	 	27	 
		
	 ARTICLE 8 PHARMACOVIGILANCE AND SAFETY
	  	 	28	 
			
	 8.1
	  	Global Safety Database	  	 	28	 
	 8.2
	  	Pharmacovigilance Agreement	  	 	28	 
		
	 ARTICLE 9 CONFIDENTIALITY AND NON-DISCLOSURE
	  	 	28	 
			
	 9.1
	  	Confidentiality Obligations	  	 	28	 
	 9.2
	  	Permitted Disclosures	  	 	29	 
	 9.3
	  	Use of Name	  	 	30	 
	 9.4
	  	Press Releases	  	 	30	 
	 9.5
	  	Destruction of Confidential Information	  	 	31	 
	 9.6
	  	Publications	  	 	31	 
	 9.7
	  	Arising Information and Inventions	  	 	31	 
		
	 ARTICLE 10 REPRESENTATIONS AND WARRANTIES
	  	 	32	 
			
	 10.1
	  	Mutual Representations and Warranties	  	 	32	 
	 10.2
	  	Representations and Warranties of Sanofi	  	 	32	 
	 10.3
	  	Covenant of Licensee	  	 	33	 
	 10.4
	  	DISCLAIMER OF WARRANTY	  	 	33	 
	 10.5
	  	ADDITIONAL WAIVER	  	 	33	 
		
	 ARTICLE 11 INDEMNITY
	  	 	33	 
			
	 11.1
	  	Indemnification of Sanofi	  	 	33	 
	 11.2
	  	Indemnification of Licensee	  	 	34	 
	 11.3
	  	Notice of Claim	  	 	34	 
	 11.4
	  	Control of Defense	  	 	34	 
	 11.5
	  	Limitation on Damages and Liability	  	 	36	 
	 11.6
	  	Insurance	  	 	36	 
		
	 ARTICLE 12 TERM AND TERMINATION
	  	 	37	 
			
	 12.1
	  	Term	  	 	37	 
	 12.2
	  	Termination of this Agreement for Material Breach	  	 	37	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
	 12.3
	  	Termination by Licensee at Will	  	 	37	 
	 12.4
	  	Termination by Sanofi for Patent Challenge	  	 	37	 
	 12.5
	  	Termination Upon Insolvency	  	 	38	 
	 12.6
	  	Rights in Bankruptcy	  	 	38	 
	 12.7
	  	Consequences of Termination	  	 	38	 
	 12.8
	  	Accrued Rights; Surviving Obligations	  	 	39	 
		
	 ARTICLE 13 MISCELLANEOUS
	  	 	39	 
			
	 13.1
	  	Force Majeure	  	 	39	 
	 13.2
	  	Alliance Managers	  	 	40	 
	 13.3
	  	Assignment	  	 	40	 
	 13.4
	  	Severability	  	 	40	 
	 13.5
	  	Dispute Resolution	  	 	41	 
	 13.6
	  	Exceptions	  	 	43	 
	 13.7
	  	Governing Law	  	 	43	 
	 13.8
	  	Service	  	 	43	 
	 13.9
	  	Notices	  	 	43	 
	 13.10
	  	Entire Agreement; Amendments	  	 	44	 
	 13.11
	  	English Language	  	 	44	 
	 13.12
	  	Equitable Relief	  	 	44	 
	 13.13
	  	Waiver and Non-Exclusion of Remedies	  	 	45	 
	 13.14
	  	No Benefit to Third Parties	  	 	45	 
	 13.15
	  	Affiliates	  	 	45	 
	 13.16
	  	Further Assurance	  	 	45	 
	 13.17
	  	Relationship of the Parties	  	 	45	 
	 13.18
	  	References	  	 	45	 
	 13.19
	  	Construction	  	 	46	 
	 13.20
	  	Counterparts	  	 	46	 

 Schedules 
  

			
	 Schedule 1.59
	  	Licensed Compounds
	 Schedule 1.60
	  	Licensed Know-How
	 Schedule 1.61
	  	Licensed Patents
	 Schedule 1.99
	  	Target 1
	 Schedule 1.101
	  	Target 2
	 Schedule 2.6
	  	Transferred Materials
	 Schedule 3.1.2
	  	Development Plans
	 Schedule 9.4
	  	Initial Press Release(s)

  
 -iii- 

 LICENSE AGREEMENT 

This License Agreement (this “Agreement”) is made and entered into as of March 12, 2021 (the “Effective
Date”) by and between Sanofi, a French corporation, having offices at 54, rue la Boétie, 75008 Paris (“Sanofi” or “Licensor”), and Global Blood Therapeutics, Inc., a Delaware corporation, with
a principal office at 181 Oyster Point Boulevard, South San Francisco, CA, 94080 USA (“GBT” or “Licensee”). Sanofi and Licensee are sometimes referred to herein individually as a “Party” and
collectively as the “Parties”. 
 RECITALS 

WHEREAS, Sanofi controls certain property rights with respect to the Licensed Compounds (as defined herein) and Licensed Products (as defined
herein) in the Territory (as defined herein); and 
 WHEREAS, Sanofi wishes to grant to Licensee, and Licensee wishes to be granted, a
license under such intellectual property rights to Exploit (as defined herein) Licensed Products in the Territory, in each case, in accordance with the terms and conditions set forth below. 

NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 

ARTICLE 1 
 DEFINITIONS

 Unless otherwise specifically provided herein, the following terms shall have the following meanings: 

1.1 “Accountant” has the meaning set forth in Section 6.12. 

1.2 “Accounting Standards” means the then-current version financial reporting standards followed by Licensee, its
Affiliate or Sublicensee, examples of which are IFRS (International Financial Reporting Standards) and GAAP (United States generally accepted accounting principles), in each case, in each case consistently applied. 

1.3 “Adverse Event” means (a) the development of an undesirable medical condition or the deterioration of a pre-existing medical condition in a patient or clinical investigation subject during or following exposure to or use of a Licensed Product, whether or not considered causally related to such Licensed Product,
(b) the exacerbation of any pre-existing condition occurring during or following exposure to or use of a Licensed Product, or (c) any other adverse experience or adverse drug experience (as described
in the FDA’s Investigational New Drug safety reporting and NDA post-marketing reporting regulations, 21 C.F.R. §§312.32 and 314.80, respectively, and any applicable corresponding regulations outside the United States, in each case as
may be amended from time to time), occurring during or following exposure to or use of a Licensed Product. For purposes of this Agreement, “undesirable medical condition” includes symptoms (e.g., nausea, chest pain), signs
(e.g., tachycardia, enlarged liver) or the abnormal results of an investigation (e.g., laboratory findings, electrocardiogram), including unfavorable side effects, toxicity, injury, overdose or sensitivity reactions. 

  
 1 

 1.4 “Affiliate” means, with respect to a Party, any Person
that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such Party. For purposes of this definition, “control” and, with correlative meanings, the terms “controlled
by” and “under common control with” means (a) the possession, directly or indirectly, of the power to direct the management or policies of a business entity, whether through the ownership of voting securities, by contract
relating to voting rights or corporate governance, or otherwise, or (b) the ownership, directly or indirectly, of fifty percent (50%) or more of the voting securities or other ownership interest of a business entity (or, with respect to a
limited partnership or other similar entity, its general partner or controlling entity). 
 1.5 “Agreement”
has the meaning set forth in the preamble hereto. 
 1.6 “Alliance Manager” has the meaning set forth in
Section 13.2. 
 1.7 “Applicable Law” means laws, rules and regulations applicable to the performance of
activities under this Agreement, including any rules, regulations, guidelines (including Good Clinical Practices, Good Laboratory Practices and Good Manufacturing Practices, as respectively defined under the ICH Guidelines) or other requirements of
the Regulatory Authorities that may be in effect from time to time. 
 1.8 “Arbitrator” has the meaning set forth in
Section 13.5.2. 
 1.9 “Breaching Party” has the meaning set forth in Section 12.2. 

1.10 “Business Day” means a day, other than a Saturday or Sunday, on which banking institutions in Paris, France and
San Francisco, California are not closed. 
 1.11 “Calendar Quarter” means each successive period of three
(3) calendar months commencing on January 1, April 1, July 1 and October 1. 
 1.12 “Calendar
Year” means each successive period of twelve (12) calendar months commencing on January 1 and ending on December 31. 

1.13 “Change of Control” means, with respect to either Party, (a) any sale, exchange, transfer, or issuance to or
acquisition by one or more Third Parties of shares representing more than fifty percent (50%) of the aggregate ordinary voting power entitled to vote for the election of directors represented by the issued and outstanding stock of such Party or any
Affiliate that directly or indirectly controls (as defined in Section 1.4) such Party (such Affiliate, a “Parent” of such Party), whether such sale, exchange, transfer, issuance or acquisition is made directly or indirectly,
beneficially or of record or in one transaction or a series of related transactions, but excluding the issuance of shares in financing transactions, including any venture capital financing or any public offering; (b) a merger or consolidation
under Applicable Law of such Party with a Third Party in which the shareholders of a Party or such Parent immediately prior to such merger or consolidation 

  
 2 

 
do not continue to hold immediately following the closing of such merger or consolidation more than fifty percent (50%) of the aggregate ordinary voting power entitled to vote for the election of
directors represented by the issued and outstanding stock of the entity surviving or resulting from such consolidation; or (c) a sale or other disposition of all or substantially all of the assets of such Party to one (1) or more Third
Parties in one transaction or a series of related transactions. 
 1.14 “Clinical Data” means all data,
reports and results with respect to the Licensed Compounds or the Licensed Products made, collected or otherwise generated under or in connection with the Clinical Studies. 

1.15 “Clinical Studies” means human clinical trials for a Licensed Product and any other tests and studies for
a Licensed Product in human subjects. 
 1.16 “Closing” or “Closed” means the date on which a
transaction is consummated after all conditions of closing have been fulfilled in accordance with the applicable transaction documents. 

1.17 “Combination Product” means a Licensed Product that consists of or contains a Licensed Compound as an active
ingredient together with one (1) or more other active ingredients and is sold either as a fixed dose or as separate doses in a single package or as separately packaged products invoiced for a single price. 

1.18 “Commercialization” means, with respect to a product, any and all activities (whether before or after
Market Approval) directed to the marketing, promotion and sale of such product in the Field in the Territory after Market Approval for commercial sale has been obtained, including pre-launch and post-launch
marketing, promoting, marketing research, distributing, offering to commercially sell and commercially selling such product, importing, exporting or transporting such product for commercial sale, medical education activities with respect to such
product, conducting Clinical Studies that are not required to obtain or maintain Market Approval for such product for an indication, which may include epidemiological studies, modeling and pharmacoeconomic studies, post-marketing surveillance
studies, investigator sponsored studies and health economics studies and regulatory affairs (including interacting with Regulatory Authorities) with respect to the foregoing. When used as a verb, “Commercializing” means to engage in
Commercialization and “Commercialize” and “Commercialized” shall have a corresponding meaning. 

1.19 “Commercially Reasonable Efforts” means the level of efforts and resources expended by Licensee, which
efforts would [***]. 

  
 3 

 1.20 “Complaining Party” has the meaning set forth in
Section 12.2. 
 1.21 “Confidential Information” has the meaning set forth in Section 9.1. 

1.22 “Control” means, with respect to any Information and Inventions, Regulatory Documentation, Patent, or
other intellectual property right, possession of the right, whether directly or indirectly, and whether by ownership, license or otherwise (other than by operation of the license and other grants in Section 2.1), to assign or grant a license,
sublicense or other right to or under such Information and Inventions, Regulatory Documentation, Patent, or other intellectual property right as provided for herein without violating the terms of any agreement or other arrangement with any Third
Party. 
 1.23 “Controlling Party” has the meaning set forth in Section 7.4.1. 

1.24 “Derived Patent” means (a) any Patent filed by Licensee or its Affiliate or Sublicensee after the Effective
Date that claims any Licensed Know-How or any Transferred Materials, or (b) any Patent that is a re-filing by Licensee of any withdrawn Licensed Patent. 

1.25 “Development” means, with respect to a product, all activities related to research, including discovery
work (e.g., screening, structure and activity relationship and lead optimization), preclinical and other non-clinical testing, test method development and stability testing, toxicology, formulation, process
development, Clinical Studies, including Manufacturing in support thereof (but excluding any commercial Manufacturing), statistical analysis and report writing, the preparation and submission of Drug Approval Applications, regulatory affairs with
respect to the foregoing and all other activities necessary or reasonably useful or otherwise requested or required by a Regulatory Authority as a condition or in support of obtaining or maintaining a Market Approval for such Licensed Product. When
used as a verb, “Develop” means to engage in Development. 
 1.26 “Development, Regulatory and Commercial
Milestone Event” has the meaning set forth in Section 6.2.1. 
 1.27 “Development, Regulatory and Commercial
Milestone Payment” has the meaning set forth in Section 6.2.1. 
 1.28 “Development Plan” has the
meaning set forth in Section 3.1.2. 
 1.29 “Disclosing Party” has the meaning set forth in Section 9.1.

 1.30 “Dispute” has the meaning set forth in Section 13.5.1. 

1.31 “Dollars” or “$” means United States Dollars. 

1.32 “Drug Approval Application” means a New Drug Application (an “NDA”) as defined in the
FFDCA and the regulations promulgated thereunder (including all additions, supplements, extensions and modifications thereto), or any corresponding foreign application in the Territory, including, with respect to the European Union, a Marketing
Authorization Application (an “MAA”) filed with the EMA pursuant to the centralized approval procedure or with the applicable Regulatory Authority of a country in Europe with respect to the mutual recognition or any other national
approval procedure. 

  
 4 

 1.33 “Effective Date” has the meaning set forth in the
preamble hereto. 
 1.34 “EMA” means the European Medicines Agency and any successor agency thereto. 

1.35 “Escalation Notice” has the meaning set forth in Section 13.5.1. 

1.36 “Europe” means the countries comprising the European Economic Area as it may be constituted from time to
time, which as of the Effective Date consists of the member countries of the European Union, Iceland, Norway, Liechtenstein, Switzerland and the United Kingdom. 

1.37 “European Union” means the economic, scientific and political organization of member states as it may be
constituted from time to time, which as of the Effective Date consists of Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, The
Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and that certain portion of Cyprus included in such organization. 

1.38 “Executive Officer” means a senior executive of a Party having corporate authority to make decisions regarding
this Agreement. 
 1.39 “Exploit” means, with respect to a product, to use, have used, Develop, have
Developed, Manufacture, have Manufactured, import, have imported, Commercialize, have Commercialized or otherwise exploit such product and “Exploitation” means the act of Exploiting a product. 

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

1.41 “FFDCA” means the United States Federal Food, Drug, and Cosmetic Act, as amended from time to time. 

1.42 “Field” means diagnosis, prevention, and/or treatment of any human disease. 

1.43 “First Commercial Sale” means, with respect to a Licensed Product in a country in the Territory, the first sale
to a Third Party for monetary value for use or consumption by the general public of such Licensed Product in such country after the applicable Regulatory Authority has approved the Drug Approval Application for such Licensed Product in such country.
Sales prior to the approval of the applicable Drug Approval Application, such as so-called “treatment IND sales,” “named patient sales” and “compassionate use sales” shall not
constitute a First Commercial Sale. 
 1.44 “Force Majeure Event” has the meaning set forth in
Section 13.1. 
 1.45 “Generic Entry” has the meaning set forth in Section 6.3.4. 

  
 5 

 1.46 “GLP” means the then-current good laboratory practice standards
promulgated or endorsed by the FDA as defined in 21 C.F.R. Part 58, and comparable regulatory standards promulgated by the EMA or other Regulatory Authority applicable to the Territory, as they may be updated from time to time, including applicable
quality guidelines promulgated under the ICH. 
 1.47 “GLP Tox Study” means a
non-clinical study conducted in accordance with GLP to characterize the toxicity profile of a drug by identifying its physiological impact through non-human testing,
which may include an assessment of dose and reversibility of any adverse effects. 
 1.48 “Hatch-Waxman Act” means
the Drug Price Competition and Patent Term Restoration Act of 1984, as amended. 
 1.49 “[***]” means an [***]. 

1.50 “IND” means an investigational new drug application filed with the FDA for authorization to commence Clinical
Studies in the United States (including all additions, supplements, extensions and modifications thereto), or any corresponding foreign application in the Territory. 

1.51 “Indemnification Claim Notice” has the meaning set forth in Section 11.3. 

1.52 “Indemnified Party” has the meaning set forth in Section 11.3. 

1.53 “Indemnifying Party” means the Party from whom indemnification is sought pursuant to Section 11.1 or
Section 11.2. 
 1.54 “Information and Inventions” means all technical, scientific and other know-how and information, trade secrets, knowledge, technology, means, methods, processes, practices, formulas, instructions, techniques, procedures, ideas, technical assistance, designs, drawings, assembly
procedures, computer programs, apparatuses, specifications, data, results and other material, including pre-clinical trial results and Clinical Study results, Manufacturing procedures, test procedures, and
purification and isolation techniques, (whether or not confidential, proprietary, patented or patentable) in written, electronic or any other form now known or hereafter developed, and all other discoveries, developments, inventions, and tangible
embodiments of any of the foregoing. 
 1.55 “Infringement” has the meaning set forth in Section 7.3.1. 

1.56 “Infringement Notice” has the meaning set forth in Section 7.3.1. 

1.57 “Initial Press Release(s)” has the meaning set forth in Section 9.4. 

1.58 “Invoiced Sales” has the meaning set forth in the definition of “Net Sales.” 

  
 6 

 1.59 “Licensed Compound” means (a) any compound listed
on Schedule 1.59 and (b) any other compound directed against a Target or which modulates a Target (i) the making, using,selling or importing of which is covered by a Valid Claim of a Licensed Patent or Derived Patent or
(ii) the Development or Manufacture of which by Licensee, its Affiliates or Sublicensees, as applicable, used or incorporated any Licensed Know-How or Transferred Materials, and with respect to each of
(a) and (b) any metabolite, salt, ester, hydrate, solvate, isomer, enantiomer, free acid form, free base form, crystalline form, co-crystalline form, amorphous form,
pro-drug form, racemate, polymorph, chelate, stereoisomer, tautomer or optically active form of any of the foregoing. 

1.60 “Licensed Know-How” means the Information and Inventions Controlled by
Sanofi as of the Effective Date set forth on Schedule 1.60, which schedule may be updated by the Parties in accordance with Section 2.5 (Disclosure of Licensed Know-How). 

1.61 “Licensed Patents” means the Patents which are Controlled by Sanofi as of the Effective Date of this Agreement
and which are solely related to the Licensed Compounds, as set forth on Schedule 1.61, which schedule may be updated by the Parties in accordance with Section 7.2.5 (Omitted Licensed Patents). Licensed Patents also includes
anything related to the Patents on Schedule 1.61 that is within the scope of clauses (b), (c), (d) or (e) of the definition of Patents. 

1.62 “Licensed Product” means any product containing a Licensed Compound, including all forms, formulations and
modes of administration, alone or in combination with one or more other active ingredients, presentations and dosages thereof, and includes any Target 1 Licensed Product and any Target 2 Licensed Product. 

1.63 “Licensee” has the meaning set forth in the preamble hereto. 

1.64 “Licensee Indemnitees” has the meaning set forth in Section 11.2. 

1.65 “Losses” has the meaning set forth in Section 11.1. 

1.66 “MAA” has the meaning set forth in the definition of “Drug Approval Application”. 

1.67 “Major Markets” has the meaning set forth in Section 3.2. 

1.68 “Manufacture” and “Manufacturing” means, with respect to a product, all
activities related to the production, manufacture, processing, filling, finishing, packaging, labeling, shipping, holding, stability testing, quality assurance or quality control of such product or any intermediate thereof. 

1.69 “Market Approval” means an approval from a Regulatory Authority of the applicable Drug Approval Application for a
Licensed Product. 
 1.70 “Milestone Event” means each Development, Regulatory and Commercial Milestone Event and
Sales Milestone Event. 
 1.71 “Milestone Payments” means each Development, Regulatory and Commercial Milestone
Payment and Sales Milestone Payment. 

  
 7 

 1.72 “Monetization” means the monetization of all or a portion of
Sanofi’s rights to receive royalties and other related payments under this Agreement, including by means of a direct sale (through an auction process or otherwise) or a financing (through a borrowing of loans, an offering of securities or
otherwise). 
 1.73 “NDA” has the meaning set forth in the definition of “Drug Approval
Application”. 
 1.74 “Net Sales” means, for any period, the gross amount invoiced by Licensee or any of its
Affiliates or Sublicensees for the sale of a Licensed Product to a Third Party (the “Invoiced Sales”), less deductions for: (a) normal and customary trade, quantity and cash discounts and sales returns, credits, chargebacks,
rebates, and allowances; (b) freight, postage, shipping and insurance expenses to the extent that such items are included in the gross amount invoiced; (c) taxes (other than income tax), customs and excise duties and other duties related
to the manufacture or sales of Licensed Product, including that portion of the annual fee on prescription drug manufacturers imposed by the Patient Protection and Affordable Care Act, Pub. L. No. 111-148
(as amended) actually paid and reasonably allocable to the Licensed Product; (d) rebates and similar payments made with respect to sales paid for by any governmental or regulatory authority; and (e) amounts accrued for accounts receivable
considered uncollectible (it being understood that any such amounts subsequently recovered will be included in Net Sales for the period recovered), in each case ((a) to (e)) in accordance with Accounting Standards. For purposes of determining Net
Sales, a Licensed Product shall be deemed to be sold when invoiced and a “sale” shall not include transfers or dispositions of such Licensed Product for pre-clinical or clinical purposes or as
samples or for compassionate use, early access or similar purposes, in each case, at or below cost. 
 In the event that a Licensed Product
is sold in any country in the form of a Combination Product, Net Sales of such Combination Product shall be adjusted by multiplying actual Net Sales of such Combination Product in such country calculated pursuant to the foregoing definition of
“Net Sales” by the fraction A/(A+B), where A is the average net price in such country of any Licensed Product that contains a Licensed Compound as its sole active ingredient, if sold separately in such country, and B is the average net
price in such country of each product that contains an active ingredient other than the Licensed Compound contained in such Combination Product as its sole active ingredient, if sold separately in such country. If either such Licensed Product that
contains the Licensed Compound as its sole active ingredients or a product that contains an active ingredient (other than the Licensed Product) in the Combination Product as its sole active ingredient is not sold separately in a particular country,
the Parties shall negotiate in good faith a reasonable adjustment to Net Sales in such country that takes into account the medical contribution to the Combination Product, the net price and the label in such country of the Licensed Compound, on the
one hand, and all of the other active ingredients, collectively, on the other hand; provided that if, notwithstanding such good faith negotiation, the Parties are unable to agree on an adjustment to Net Sales in such country within [***] after a
request by a Party that they negotiate such an adjustment, then either Party shall have the right to submit such matter for resolution pursuant to Section 13.5. 

In the case of pharmacy incentive programs, hospital performance incentive programs, chargebacks, disease management programs, similar
programs or discounts on portfolio product offerings, all rebates, discounts and other forms of reimbursements shall be allocated among products on the basis on which such rebates, discounts and other forms of reimbursements were actually granted
or, if such basis cannot be determined, in accordance with Licensee’s, or its Affiliates’ existing allocation method; provided that any such allocation shall be done in accordance with Applicable Law, including any price reporting laws,
rules and regulations. 

  
 8 

 Licensee’s or any of its Affiliates’ or Sublicensees’ transfer of any
Licensed Product to Licensee or an Affiliate or Sublicensee shall not result in any Net Sales unless such Licensed Product is consumed by such Affiliate or Sublicensee in the course of its commercial activities. 

1.75 “Non-Controlling Party” has the meaning set forth in Section 7.4.1.

 1.76 “Party” and “Parties” each has the meaning set forth in the
preamble hereto. 
 1.77 “Patents” means (a) all national, regional and international patents and patent
applications, including provisional patent applications, (b) all patent applications filed from any of the foregoing provisional patent applications in clause (a), (c) all patent applications that claim priority to any patent or patent
applications in clause (a) or clause (b), including divisionals, continuations, continuations-in-part, provisionals, converted provisionals and continued
prosecution applications, (d) any and all patents that have issued or in the future issue from any of foregoing patent applications in clause (a), clause (b) or clause (c), including utility models, petty patents and design patents and
certificates of invention, and (e) any and all extensions or restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions
(including any supplementary protection certificates and the like) of any of the foregoing patents or patent applications in clause (a), clause (b), clause (c) or clause (d). 

1.78 “Payments” has the meaning set forth in Section 6.8. 

1.79 “Person” means an individual, sole proprietorship, partnership, limited partnership, limited liability
partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity or organization, including a government or political subdivision, department or agency
of a government. 
 1.80 “Phase I Clinical Study” means a Clinical Study of a Licensed Product that meets the
definition of a Phase I study in the Clinical Trial Regulation EU No 536/2014 and for the United States as described in 21 C.F.R. §312.21(a), or its successor regulation, or the equivalent regulation in any other country 

1.81 “Phase II Clinical Study” means a Clinical Study of a Licensed Product that meets the definition of a Phase II
study in the Clinical Trial Regulation EU No 536/2014 and for the United States as described in 21 C.F.R. §312.21(b), or its successor regulation, or the equivalent regulation in any other country. 

1.82 “Product Trademarks” means the Trademark(s) to be used by Licensee or its Affiliates for the Commercialization of
the Licensed Products in the Field in the Territory and any registrations thereof or any pending applications relating thereto in the Territory (excluding, in any event, any Trademarks that include any corporate name or logo of the Parties or their
Affiliates). 

  
 9 

 1.83 “Receiving Party” has the meaning set forth in
Section 9.1. 
 1.84 “Registrational Clinical Study” means the earlier of (a) Phase 2 Clinical Study which
enables the Licensee to obtain Market Approval of a Licensed Product without conducting a Phase III Clinical Study, and (b) Clinical Study of Licensed Product that meets the definition of a Phase III study in the Clinical Trial Regulation EU No
536/2014 and for the United States as described in 21 C.F.R. §312.21(c), or its successor regulation, or the equivalent regulation in any other country. 

1.85 “Regulatory Authority” means any applicable supra-national, federal, national, regional, state, provincial
or local regulatory agencies, departments, bureaus, commissions, councils or other government entities regulating or otherwise exercising authority with respect to the Exploitation of a Licensed Compound or a Licensed Product in the Territory. 

1.86 “Regulatory Documentation” means all (a) applications (including all INDs and Drug Approval
Applications), registrations, licenses, authorizations and approvals (including all Market Approvals), (b) correspondence and reports submitted to or received from Regulatory Authorities (including minutes and official contact reports relating to
any communications with any Regulatory Authority) and all supporting documents with respect thereto, including all regulatory drug lists, advertising and promotion documents, Adverse Event files and complaint files and (c) Clinical Data and any
other data contained in any of the foregoing, in each case ((a), (b) and (c)), relating to the Licensed Product. 
 1.87
“Regulatory Exclusivity” means any period of data or market exclusivity granted or otherwise authorized in respect of a Licensed Product, other than as a result of a Patent, that prohibits a Person from (a) relying on safety or
efficacy data generated by or on behalf of a Party with respect to such Licensed Product in an application for regulatory approval of a Generic Product, or (b) Commercializing a Licensed Product, including any such period under the FFDCA,
European Parliament and Council Regulations (EC) Nos. 726/2004, 141/2000 and 1901/2006, or national implementations of Article 10 of Directive 2001/83/EC, and all equivalents (in the United States, European Union or elsewhere) of any of the
foregoing. 
 1.88 “Restricted Compound” means any [***]. 

1.89 “Restricted Period” has the meaning set forth in Section 2.8. 

1.90 “Royalty Term” means, with respect to each Licensed Product on a country-by-country basis and on a Licensed Product-by-Licensed Product basis, the period beginning on the date of the First
Commercial Sale of such Licensed Product in such country, and ending on the latest to occur of: (a) expiry of the last Valid Claim of a Licensed Patent or Derived Patent that would, absent a license granted hereunder, be infringed by the
Exploitation of such Licensed Product in such country; (b) the expiration of Regulatory Exclusivity in such country for such Licensed Product; and (c) the tenth (10th) anniversary of the
First Commercial Sale of such Licensed Product in such country. 
 1.91 “Sales Milestone Event” has the meaning set
forth in Section 6.2.2. 

  
 10 

 1.92 “Sales Milestone Payment” has the meaning set forth in
Section 6.2.2. 
 1.93 “Sanofi” has the meaning set forth in the preamble hereto. 

1.94 “Sanofi Indemnitees” has the meaning set forth in Section 11.1. 

1.95 “Securities Regulator” has the meaning set forth in Section 9.2.3. 

1.96 “Service Provider” means a Person retained by Licensee to perform services but which Person is not granted any
sublicense of any rights hereunder (other than solely to perform such services). 
 1.97 “Sublicensee” means a Third
Party Person (other than a Service Provider) that is granted a sublicense by Licensee in accordance with Section 2.3. 
 1.98
“Target” means any of Target 1 or Target 2. 
 1.99 “Target 1” means (a) the molecule
described on Schedule 1.99, (b) any co-factors associated with the molecule in (a); (c) any portion or fragment of any molecule in (a) or (b); and (d) any naturally occurring variant of any of
the foregoing in (a)-(c), including any mutated form or any post-translationally modified form. 
 1.100 “Target 1 Licensed
Product ” means a Licensed Product that modulates Target 1. 
 1.101 “Target 2” means (a) the molecule
described on Schedule 1.101, (b) any co-factors associated with the molecule in (a); (c) any portion or fragment of any molecule in (a) or (b); and (d) any naturally occurring variant of any
of the foregoing in (a)-(c), including any mutated form or any post-translationally modified form. 
 1.102 “Target 2
Licensed Product ” means a Licensed Product that activates Target 2. 
 1.103 “Term” has the meaning set
forth in Section 12.1. 
 1.104 “Termination Notice Period” has the meaning set forth in Section 12.2.

 1.105 “Territory” means the entire world. 

1.106 “Third Party” means any Person other than Sanofi, Licensee and their respective Affiliates. 

1.107 “Third Party Claims” has the meaning set forth in Section 11.1. 

1.108 “Third Party License” has the meaning set forth in Section 6.3.3. 

1.109 “Trademark” means any word, name, symbol, color, designation or device or any combination thereof that
functions as a source identifier, including any trademark, trade dress, brand mark, service mark, trade name, brand name, logo or business symbol, whether or not registered. 

  
 11 

 1.110 “Transferred Materials” has the meaning set forth in
Section 2.6. 
 1.111 “Upfront Payment” has the meaning set forth in Section 6.1. 

1.112 “Valid Claim” means (a) any claim of an issued and unexpired patent in any country that (i) has
not been held permanently revoked, unenforceable or invalid by a decision of a court or governmental agency of competent jurisdiction that is unappealable or unappealed within the time allowed for appeal and (ii) has not been abandoned,
disclaimed, denied or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise in such country; or (b) any claim of a pending patent application that is being prosecuted in good faith, has not been abandoned or finally
disallowed without the possibility of appeal or re-filing of the application, and has been pending for no more than [***] from its earliest priority date. 

ARTICLE 2 
 GRANT OF
RIGHTS 
 2.1 Grants to Licensee. Subject to all other terms and conditions of this Agreement, Sanofi hereby grants to
Licensee an exclusive (including with regard to Sanofi and its Affiliates) license under the Licensed Patents and to use the Licensed Know-How to Exploit the Licensed Compounds and the Licensed Products in the
Field in the Territory. 
 2.2 Retention of Rights. Sanofi retains, on behalf of itself and its Affiliates, rights to use the
Licensed Know-How to conduct non-clinical Development of, and to manufacture, compounds other than the Licensed Compound or the Licensed Products. In addition, Sanofi
has the right to retain a minimal quantity of Licensed Compounds as required by its quality assurance policies, and to use such Licensed Compounds only for any use outside the Field [***]. 

2.3 Sublicenses. The rights and licenses granted to Licensee under Section 2.1 may be sublicensed to one or more Affiliates
of Licensee or one or more Third Parties, provided that (a) Licensee shall remain liable to Sanofi for the performance under this Agreement despite any such sublicensing, and (b) Licensee will provide Sanofi with a copy of each sublicense
agreement with a Sublicensee within [***] of being executed, which may be redacted of any terms not necessary to confirm compliance with this Agreement. 

2.4 No Implied Rights. Neither Party, nor its Affiliates, shall have any right, express or implied, with respect to any property
of the other Party (including in the case of Sanofi, the Licensed Patents or the Licensed Know-How), except as expressly provided under this Agreement. 

2.5 Disclosure of Licensed Know-How. Sanofi shall disclose and make available to
Licensee the Licensed Know-How within [***] after the Effective Date by granting the Licensee download rights to the data room from which the Licensed Know-How may be
accessed. Licensed Know-How will be provided in openable electronic files and in the language in which it was created. Licensee shall complete its download of the Licensed
Know-How within [***] after having been granted download rights to unprotected files of all Licensed Know-How. If Sanofi or any of its Affiliates or Licensee identifies
any particular Information and Inventions Controlled by Sanofi or its Affiliates as of the Effective Date that may have been omitted from the list of Licensed Know-How, then Sanofi shall use reasonable efforts
to provide the omitted items of Licensed Know-How to Licensee as soon as practicable and Schedule 1.60 (Licensed Know-How) shall be updated by the Parties
accordingly as soon as practicable. 

  
 12 

 2.6 Transferred Materials. Sanofi hereby assigns to Licensee all of its right,
title and interest in and to the materials listed on Schedule 2.6 (Transferred Materials) (the “Transferred Materials”), which Sanofi shall deliver (EXW (Incoterms®
2020) the facility specified in such Schedule 2.6) promptly after having received from Licensee all information necessary to effectuate the delivery (including without limitation delivery address, contact name(s) and customs information).
Licensee shall bear all shipping costs, including insurance, customs duties and any transfer tax that may become due in connection with the delivery of the Transferred Materials. The Parties agree that the Transferred Materials shall be used by
Licensee, its Affiliates and Sublicensees solely to Exploit the Licensed Compound and the Licensed Products in the Field in the Territory. [***]. 

2.7 Technical Assistance. Beginning on the Effective Date, Sanofi will make relevant personnel available to answer
Licensee’s reasonable technical questions regarding the Licensed Compounds and Licensed Know-How to the extent such expertise is available within Sanofi or its Affiliates. Such technical assistance will
be provided at no cost to Licensee for no more than [***] for no more than [***]. Beginning at the expiry of such [***] period, Sanofi will provide additional technical assistance as reasonably requested by Licensee for no more than [***] for no
more than [***]. Sanofi may request Licensee to pay for such additional assistance on an FTE basis at the rate of $[***] per hour. Sanofi shall issue invoices, including number of hours and date, for such technical assistance setting forth the dates
on which such assistance was rendered.  
 2.8 Exclusivity. For [***]
beginning on the Effective Date (the “Restricted Period”), Sanofi and its Affiliates will not, directly or through a Third Party, and will not grant a Third Party any rights to, Develop, Manufacture or Commercialize any Restricted
Compound for use in [***]; provided however that if during the Restricted Period Sanofi acquires a Restricted Compound as part of any acquisition of a business or other transaction, Sanofi may continue to Develop, Manufacture or Commercialize such
Restricted Compound for a period of [***] after the Closing of such acquisition, during which [***] period it shall, in its sole discretion, either (a) (A) wind-up or (B) decide to suspend such
activities until the end of the Restricted Period and complete such suspension by the end of such [***] period or (b) divest its rights in such Restricted Compound, whether through a sale, license or other transfer, and further provided that
Sanofi shall (i) conduct such activities independently of any activities under this Agreement, (ii) not use any Licensed Patents, Licensed Compounds, Licensed Know-How or Confidential Information of
Licensee in the conduct of such Development, Manufacturing or Commercialization activities with respect to any such Restricted Compound, (iii) establish reasonable internal safeguards designed to ensure that the foregoing requirements are
satisfied and (iv) not use in such activities any individuals who conducted any activities with respect to any Licensed Compounds, Licensed Know-How or Licensed Patents. 

  
 13 

 ARTICLE 3 

DEVELOPMENT AND REGULATORY 

3.1 Development. 

3.1.1. In General. Licensee shall be solely responsible for Development of the Licensed Products in the Field in the Territory
at its own cost and expense. 
 3.1.2. Development Plans. Schedule 3.1.2 sets forth (a) an initial plan to
Develop the Licensed Compounds directed against Target 1 and Target 1 Licensed Products in the Field in the Territory and (b) an initial plan to Develop the Licensed Compounds directed against Target 2 and Target 2 Licensed Products in the
Field in the Territory (each such plan in (a) and (b), and any update thereto, a “Development Plan”, and collectively the “Development Plans”), reflecting those Development activities that Licensee believes, in
good faith, are required in order for Licensee to satisfy its obligations under Section 3.2 (Development Diligence). Licensee shall include in its annual report to be delivered pursuant to Section 3.3 (Reports), an update to the
Development Plans which will include a reasonably detailed summary of [***]. The Development Plans are the Confidential Information of Licensee. 

3.2 Development Diligence. Licensee shall use Commercially Reasonable Efforts (itself or with or through its Affiliates and/or
Sublicensees) to Develop and obtain Market Approval for [***]. 
 3.3 Reports. Licensee shall deliver to Sanofi an annual
Development report no later than [***] after the end of each Calendar Year, which report shall include (a) a summary of Development activities conducted in such Calendar Year and (b) [***] and (c) [***]. Licensee’s obligation to submit
annual development reports in accordance with this Section 3.3. (Reports) shall lapse when Licensee has paid Sanofi all Development, Regulatory and Commercial Milestone Payments. 

3.4 Records. Licensee shall maintain (and cause its Affiliates, Sublicensees and Service Providers to maintain) Development
records in sufficient detail to comply with Applicable Law. Such records and documentation shall reflect all work done and results achieved in the performance of the applicable Development activities in a manner appropriate for any regulatory
purpose and, when applicable, for use in connection with Patent filings, prosecution and maintenance. Such records and documentation shall be retained for at least [***] or such longer period as may be required by Applicable Law. 

  
 14 

 3.5 Subcontracting. Licensee may retain Service Providers to conduct
Development activities on its behalf provided that (a) Licensee shall oversee the performance by its Service Providers of the subcontracted activities, (b) Licensee shall remain liable to Sanofi for the performance of all Development
activities hereunder, despite any such subcontracting, and (c) any agreement pursuant to which Licensee retains any Service Provider must be in writing and be consistent with the relevant provisions of this Agreement. 

3.6 Compliance. Licensee shall perform (and shall cause its Affiliates and require its Sublicensees and Service Providers to
perform) all of its Development activities for Licensed Compounds and Licensed Products in a good scientific manner and in compliance with the terms of this Agreement and all Applicable Laws. 

3.7 Regulatory. Licensee shall be solely responsible for conducting all activities directed to obtaining Market Approval for the
Licensed Products throughout the Territory including (a) preparing, obtaining and maintaining all Drug Approval Applications and any other Regulatory Documentation and (b) conducting communications with the Regulatory Authorities at
its own cost and expense. 
 ARTICLE 4 

COMMERCIALIZATION 

4.1 In General. Licensee shall, subject to Section 4.2, have sole control over and final decision-making authority with
respect to the Commercialization of the Licensed Products in the Field in the Territory at its own cost and expense. 
 4.2
Commercialization Diligence. Licensee shall use Commercially Reasonable Efforts (itself or with or through its Affiliates and/or Sublicensees) to Commercialize each Licensed Product in each indication in each Major Market in which Market
Approval had been granted for such Licensed Product for such indication. 
 4.3 Subcontracting. Licensee may retain Service
Providers to conduct Commercialization activities on its behalf provided that (a) Licensee shall oversee the performance by its Service Providers of the subcontracted activities, (b) Licensee shall remain liable to Sanofi for the
performance of all Commercialization activities hereunder, despite any such subcontracting, and (c) any agreement pursuant to which Licensee retains any Service Provider must be in writing and be consistent with the relevant provisions of this
Agreement. 
 4.4 Compliance. Licensee shall perform (and shall cause its Affiliates and require its Sublicensees and Service
Providers to perform) all of its Commercialization activities for Licensed Products in compliance with the terms of this Agreement and all Applicable Laws. 

4.5 Sales and Distribution. Licensee shall have sole control over and decision-making authority with respect to invoicing,
collection and booking sales, establishing all terms of sale (including pricing and discounts) and warehousing and distributing the Licensed Products in the Field in the Territory and all related services. Licensee shall have sole control over and
decision-making authority with respect to handling all returns, recalls and withdrawals, order processing, inventory and receivables with respect to the Licensed Product in the Territory. 

  
 15 

 ARTICLE 5 

MANUFACTURE AND SUPPLY 

5.1 In General. As between the Parties, Licensee shall be solely responsible for Manufacture of the Licensed Compounds and
Licensed Products at its own cost and expense. 
 5.2 Subcontracting. Licensee may retain Service Providers to conduct
Manufacturing activities on its behalf provided that (a) Licensee shall oversee the performance by its Service Providers of the subcontracted activities, (b) Licensee shall remain liable to Sanofi for the performance of all Manufacturing
activities hereunder, despite any such subcontracting, and (c) any agreement pursuant to which Licensee retains any Service Provider must be in writing and be consistent with the relevant provisions of this Agreement. 

5.3 Compliance. Licensee shall perform (and shall cause its Affiliates and require its Sublicensees and Service Providers to
perform) all of its Manufacturing activities for Licensed Compounds and Licensed Products in a good scientific manner and in compliance with the terms of this Agreement and all Applicable Laws. 

ARTICLE 6 
 PAYMENTS

 6.1 Upfront Payment. Licensee shall pay Sanofi Two Million Two Hundred Fifty Thousand Dollars ($2,250,000) (the
“Upfront Payment”), which payment shall be nonrefundable and non-creditable against any other payments due hereunder, within ten (10) Business Days of the Effective Date. 

6.2 Milestones. 

6.2.1. Development, Regulatory and Commercial Milestones. Licensee shall notify Sanofi of the first achievement of each
milestone event set forth below (each a “Development, Regulatory and Commercial Milestone Event”) within [***] of achievement thereof. Licensee shall pay Sanofi the following
non-refundable, non-creditable milestone payments (each a “ Development, Regulatory and Commercial Milestone Payment”) within [***] after receipt
of invoice therefor from Sanofi, which invoice Sanofi will provide to Licensee following receipt of notice of the achievement of the corresponding Development, Regulatory and Commercial Milestone Event from Licensee. Each such milestone will be
payable only once. 

  
 16 

							
	 	  	
Development, Regulatory and Commercial Milestone Event
	  	Development, Regulatory
and Commercial Milestone
Payment
	  	Target 1
Licensed
Product	 	Target 2
Licensed
Product
	1	  	The earlier of (a) [***] or (b) [***].	  	$[***]	 	$[***]
	2	  	[***]	  	$[***]	 	$[***]
	3	  	[***]	  	$[***]	 	$[***]
	4	  	[***]	  	$[***]	 	$[***]
	5	  	[***]	  	$[***]	 	$[***]
	6	  	[***]	  	$[***]	 	$[***]
	7	  	[***]	  	$[***]	 	$[***]
	8	  	[***]	  	$[***]	 	$[***]

 Each of the above Development, Regulatory and Commercial Milestone Payments will be payable one time for the first Target 1
Licensed Product and one time for the first Target 2 Licensed Product to achieve the applicable Development, Regulatory and Commercial Milestone Event; provided however that, if Licensee receives a milestone payment from any Sublicensee for
achievement of any Development, Regulatory and Commercial Milestone Event, Sanofi will receive the larger of the corresponding sublicensing revenue payment under Section 6.4 and the Development, Regulatory and Commercial Milestone Payment
above, but not both such payments. 
 In the event that a later Development, Regulatory and Commercial Milestone Event for a Licensed Product is achieved
before a prior one of numbers 1-4 in the table above (for example, Development, Regulatory and Commercial Milestone Event #3, prior Development, Regulatory and Commercial Milestone Event #2), then each such
later Development, Regulatory and Commercial Milestone Event shall be deemed to be the achievement of each prior Development, Regulatory and Commercial Milestone Event numbers 1-4. 

6.2.2. Sales Milestones. Licensee shall notify Sanofi of the first achievement of each milestone event set forth below (each a
“Sales Milestone Event”) within [***] of the end of the Calendar Year in which such milestone is achieved. Licensee shall pay Sanofi the following non-refundable, non-creditable milestone payments (each a “Sales Milestone Payment”) within [***] after receipt of invoice therefor from Sanofi, which invoice Sanofi will provide to Licensee following receipt of
Licensee’s notice of the achievement of the corresponding Sales Milestone Event. Licensee shall pay Sanofi the following one-time Sales Milestone Payments on annual Net Sales of the applicable Licensed
Product in the Territory in all indications in a Calendar Year on a Licensed Product-by-Licensed Product basis: 

  
 17 

							
	 	  	 Sales Milestone Event
	  	Sales Milestone Payment
	  	Target 1
Licensed
Product	 	Target 2
Licensed
Product
	A	  	Territory-wide Net Sales of each Licensed Product in a Calendar Year of at least $[***]	  	$[***]	 	$[***]
	B	  	Territory-wide Net Sales of each Licensed Product in a Calendar Year of at least $[***]	  	$[***]	 	$[***]
	C	  	Territory-wide Net Sales of each Licensed Product in a Calendar Year of at least $[***]	  	$[***]	 	$[***]

 In the event that Sales Milestone Event B is achieved in the same Calendar Year as Sales Milestone Event A, or that Sales
Milestone Event C is achieved in the same Calendar Year as Sales Milestone Event B, then such earlier Sales Milestone Event (A or B, as applicable), shall be deemed to have been achieved; provided however that Licensee shall only be required to
remit payment for one Sales Milestone Event in any single Calendar Year and may defer payment of a second or third Sales Milestone Event achieved in the same year as a first Sales Milestone Event to the following year. 

6.2.3. Determination that Milestone Events Have Occurred. In the event that, notwithstanding the fact that Licensee has not
provided Sanofi notice of achievement of a particular Milestone Event as provided above, Sanofi believes that any such Milestone Event has been achieved by Licensee or its Affiliates or Sublicensees, then it shall so notify Licensee in writing and
the Parties shall promptly meet and discuss in good faith whether such Milestone Event has been achieved. The achievement of any Milestone Event by an Affiliate of Licensee shall trigger the corresponding Milestone Payment as if such Milestone Event
had been achieved by Licensee. Any dispute under this Section 6.2.3 regarding whether or not a Milestone Event has been achieved shall be subject to resolution in accordance with Section 13.5. 

6.3 Royalties. 

6.3.1. Royalty Rates. Licensee shall pay Sanofi a royalty on Net Sales of each Licensed Product in the Territory for each
Calendar Year (or partial Calendar Year) during the Royalty Term, on a Licensed Product-by-Licensed Product basis, as follows: 

 

									
	 That portion of Net Sales of each Licensed

Product in the Territory in a Calendar Year that is:
	  	royalty rate	 
	  	Target 1 Licensed
Product	 	 	Target 2 Licensed
Product	 
	 Less than or equal to $[***]
	  	 	[	***]% 	 	 	[	***]% 
	 Greater than $[***] but less than or equal to $[***]
	  	 	[	***]% 	 	 	[	***]% 

  
 18 

									
	 That portion of Net Sales of each Licensed

Product in the Territory in a Calendar Year that is:
	  	royalty rate	 
	  	Target 1 Licensed
Product	 	 	Target 2 Licensed
Product	 
	 Greater than $[***]
	  	 	[	***]% 	 	 	[	***]% 

 6.3.2. Royalty Rate Adjustment. The royalty rates payable pursuant to Section 6.3.1 above
will be reduced on a Licensed Product-by-Licensed Product, and country-by-country basis
by [***] on each Licensed Product (a) not covered by a Valid Claim of any Licensed Patent or Derived Patent or (b) for which any period of Regulatory Exclusivity had lapsed, in each case in such country. 

6.3.3. Third Party Intellectual Property. On a Licensed
Product-by-Licensed Product and country-by-country basis, if Licensee or any of its
Affiliates or Sublicensees, as applicable, obtains a license from any Third Party to a Patent or Information or Inventions controlled by such Third Party (a “Third Party License”) in order to Exploit any Licensed Product in such
country, then the royalty payment that would otherwise be due to Sanofi in any Calendar Quarter shall be reduced, on a Calendar Quarter-by-Calendar Quarter basis, by
[***] of any payment that Licensee or any of its Affiliates or Sublicensees must pay to such Third Party in such Calendar Quarter in consideration for such license. Licensee will make copies of each such Third Party License, which may be redacted of
any information not necessary to confirm the payment amount and applicability of such Third Party License, available in connection with any audit conducted in accordance with Section 6.11 (Audit). 

6.3.4. Royalty Adjustment for Generic Entry. On a Licensed Product-by-Licensed Product and country-by-country basis, if in any Calendar Quarter during the Royalty Term following
introduction of a generic product in a country (“Generic Entry”), the Net Sales of Licensee (or its Affiliates or Sublicensees) for such Licensed Product in such country after Generic Entry is reduced by [***] or more compared to
the Net Sales of such Licensed Product in the calendar quarter immediately preceding Generic Entry, then the Net Sales amount relating to the relevant Licensed Product shall be reduced by [***] for the purpose of calculating the royalty payment owed
to Sanofi, for as long as the Net Sales remains reduced by [***] compared to the Net Sales in the calendar quarter immediately preceding Generic Entry. For the purposes of this Section 6.3.4, “generic product” means, with respect to a
Licensed Product sold by Licensee (or its Affiliates or Sublicensees, as applicable), a pharmaceutical product containing the same Licensed Compound as such Licensed Product (and the same other active ingredient(s), as applicable, in the case of a
Combination Product) which is marketed by a Person other than Licensee, or its Affiliates or Sublicensee for the same indication as Licensee, its Affiliates or Sublicensees is marketing a Licensed Product. 

  
 19 

 6.3.5. Limitation. Notwithstanding any provision to the contrary set forth in this
Agreement, the royalty payments that would otherwise be due to Sanofi pursuant to Section 6.3.1 with respect to a particular Calendar Quarter shall not be reduced by more than [***] by operation of Section 6.3.2, Section 6.3.3 and
Section 6.3.4. Licensee may carry forward to subsequent Calendar Quarters any amounts it could not deduct as a result of the application of the preceding sentence. 

6.4 Sublicense Revenue Sharing. Licensee shall pay Sanofi a percentage of all non-royalty
sublicense revenue payable to Licensee from a Sublicensee in consideration for the grant of a sublicense under the Licensed Patents and Licensed Know-How, which will include [***], but will not include [***].
Notwithstanding the foregoing, if a Sublicensee fails to pay any particular non-royalty sublicense revenue payment on account of a potential dispute between Licensee and such Sublicensee with respect to such
payment, then Licensee shall notify Sanofi promptly upon becoming aware of the potential dispute and shall not be obligated to pay the applicable percentage of such payment to Sanofi unless and until Licensee receives the disputed payment. The
percentage of sublicense or transfer revenue payable by Licensee to Sanofi will be (a) [***]% for any sublicense granted prior to the [***], (b) [***]% for any sublicense granted thereafter but prior to [***], and (c) [***]% for any sublicense
granted thereafter but prior to [***]. 
 6.5 Transer Revenue Sharing. In the event that Licensee assigns this Agreement and
its rights to the Licensed Patents, Licensed Know and Transferred Materials to any Third Party, (i) prior to the [***], whether alone or as part of a transaction with other discrete assets of Licensee, but not as part of a Change of Control of
Licensee, or (ii) from and after the [***], in a transaction that involves the transfer of Licensee’s assets related to the Licensed Products but not any assets related to other programs of Licensee, and not as part of a Change of Control
of Licensee, then in each case (i) and (ii), Licensee shall pay Sanofi (a) [***]% of the revenue received (less transaction costs) for any transfer that is Closed prior to the [***], (b) [***]% of the revenue received (less transaction costs)
for transfer that is Closed thereafter but prior to [***], and (c) [***]% of the revenue received (less transaction costs) for any transfer that is Closed thereafter but prior to [***]; provided further that where under the preceding clause
(i) Licensee assigns this Agreement and its rights to the Licensed Patents, Licensed Know and Transferred Materials to any Third Party in the same transaction with other discrete assets of Licensee, the percentages above shall apply only to the
revenue received from such transfer which is allocated to the Licensed Patents, Licensed Know and Transferred Materials as determined by a Third Party valuation expert retained by Licensee and reasonably acceptable to Sanofi to determine such value.

  
 20 

 6.6 Payment Dates and Reports. Royalty payments shall be made by Licensee
within [***] after the end of each Calendar Quarter commencing with the Calendar Quarter in which the first day of the first Royalty Term for the first Licensed Product occurs. Licensee shall also provide to Sanofi, within [***] after the end of
each Calendar Quarter for which a royalty payment is due, a report showing: (a) the Invoiced Sales and Net Sales of the Licensed Products by country in the Territory and in the aggregate throughout the Territory; (b) the itemized
deductions from Invoiced Sales to Net Sales; (c) applicable royalty rates for the Licensed Products; (c) the exchange rates used in calculating any of the foregoing; (d) a calculation of the amount of royalty due to Sanofi, taking
into account any adjustments and reductions under Section 6.3 and any Combination Product allocations, and (e) date of First Commercial Sale. 

6.7 Mode of Payment; Currency Conversion. 

(a) All payments to Sanofi under this Agreement shall be made by deposit of Dollars in the requisite amount to such bank account as Sanofi
may from time to time designate on notice to Licensee. 
 (b) If any currency conversion shall be required in connection with any payment
hereunder, then such conversion shall be made by using the rate of exchange used by Licensee in its financial reporting in accordance with Accounting Standards. 

6.8 Taxes. The Upfront Payment, Milestone Payments and other amounts payable by Licensee to Sanofi pursuant to this Agreement
(“Payments”) shall not be reduced on account of any taxes unless required by Applicable Law. Sanofi shall be responsible for paying any and all taxes (other than withholding taxes required by Applicable Law to be paid by Licensee)
levied on account of, or measured in whole or in part by reference to, any Payments it receives. Licensee shall deduct or withhold from the Payments any taxes that it is required by Applicable Law to deduct or withhold. Notwithstanding the
foregoing, if Sanofi is entitled under any applicable tax treaty to a reduction of rate of, or the elimination of, applicable withholding tax, then it may deliver to Licensee or the appropriate governmental authority (with the assistance of Licensee
to the extent that this is reasonably required and is expressly requested in writing) the prescribed forms necessary to reduce the applicable rate of withholding or to relieve Licensee of its obligation to withhold tax, and Licensee shall apply the
reduced rate of withholding, or dispense with withholding, as the case may be; provided that Licensee has received evidence, in a form reasonably satisfactory to Licensee, of Sanofi’s delivery of all applicable forms (and, if necessary,
its receipt of appropriate governmental authorization) at least [***] prior to the time that the Payments are due. If, in accordance with the foregoing, Licensee withholds any amount, then it shall pay to Sanofi the balance when due or make timely
payment to the proper taxing authority of the withheld amount and send to Sanofi proof of such payment within [***] following such payment. Licensee shall be responsible for any sales or other similar tax that Sanofi may be required to collect with
respect to the Payments. 
 6.9 Interest on Late Payments. If any Payment due to Sanofi under this Agreement is not paid in
full when due, then Licensee shall pay interest thereon at an annual rate (but with interest accruing on a daily basis) of [***], such interest to run from the date upon which payment of such amount became due until payment thereof in full. 

  
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 6.10 Financial Records. Licensee shall, and shall cause its Affiliates and
require its sub-licensees to, keep complete and accurate books and records pertaining to the sale of the Licensed Products, including books and records of Invoiced Sales (including any deductions therefrom)
and Net Sales of the Licensed Products in the Territory and any royalties paid to a Third Party pursuant to a Third Party License. Licensee shall, and shall cause its Affiliates and Sublicensees to, retain such books and records, until the later of
[***] after the end of the period to which such books and records pertain and the expiration of the applicable tax statute of limitations (or any extensions thereof), or for such longer period as may be required by Applicable Law. 

6.11 Audit. At the request of Sanofi, Licensee shall, and shall cause its Affiliates to, permit an independent certified public
accountant retained by Sanofi and reasonably acceptable to Licensee, during regular business hours and upon at least [***] written notice, to audit the books and records maintained pursuant to Section 6.10. Licensee will conduct similar audits
of its Sublicensees at Sanofi’s request and expense. Such audits may not (a) be conducted for any Calendar Quarter more than [***] after the end of such Calendar Quarter, (b) be conducted more than once in any twelve (12)-month period
(unless a previous audit during such twelve (12)-month period revealed an underpayment with respect to such period or Licensee restates or revises such books and records for such twelve (12)-month period), or (c) be repeated for any Calendar
Quarter. The accountant shall disclose to Sanofi only whether there was a discrepancy in any royalty report and if so, the amount of the discrepancy and any overpayment or underpayment. Except as provided below, the cost of any audit shall be borne
by Sanofi, unless the audit reveals a variance of more than [***]% from the reported amounts for the audited period, in which case Licensee shall bear Sanofi’s reasonable
out-of-pocket costs of the audit. Unless disputed pursuant to Section 6.12, if such audit concludes that additional payments were owed or that excess payments were
made during such period, Licensee shall pay the additional amounts, with interest from the date originally due as provided in Section 6.9, within [***] after the date on which such audit is completed and the conclusions thereof are notified to
the Parties, or Licensee shall deduct such excess payments from future payments owed Sanofi, as the case may be. 
 6.12 Audit
Dispute . In the event of a dispute over the results of any audit conducted pursuant to Section 6.11, Sanofi and Licensee shall work in good faith to resolve such dispute. If the Parties, through negotiations of the Executive
Officers, are unable to reach a mutually acceptable resolution of any such dispute within [***] of delivery of notice of dispute, then the dispute shall be submitted for resolution to a certified public accounting firm selected by the Parties
mutually (the “Accountant”), acting as an expert and not an arbitrator, or failing such agreement, as the Chairman of the International Chamber of Commerce (or such other body as the Parties may mutually agree), may nominate. The
decision of the Accountant shall be final and the costs of such dispute resolution as well as the initial audit shall be borne between the Parties in such manner as the Accountant shall determine. No later than [***] after such decision and in
accordance with such decision, Licensee shall pay the additional royalty payments, if any are determined to be owed, with interest from the date originally due as provided in Section 6.9. 

  
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 6.13 Confidentiality. Sanofi shall treat all information subject to review
under this Article 6 as Confidential Information of Licensee in accordance with the confidentiality provisions of Article 9 and Sanofi shall cause the independent public accountant retained by Sanofi pursuant to Section 6.11 or the Accountant,
as applicable, to enter into a reasonably acceptable confidentiality agreement with Licensee that includes an obligation to retain all such financial information in confidence. 

ARTICLE 7 
 INTELLECTUAL
PROPERTY 
 7.1 Ownership of Arising Information and Inventions. Licensee shall own and retain all right, title and
interest in and to any and all Information and Inventions that are conceived, discovered, developed or otherwise made by or on behalf of Licensee or its Affiliates under, or in the performance of its obligations or exercise of its rights under, this
Agreement, whether or not patented or patentable, and any and all Patents and other property rights with respect thereto. 
 7.2
Prosecution and Maintenance of Patents. 
 7.2.1. Licensed Patents. Licensee shall have the first right to
prepare, file, prosecute, and maintain the Licensed Patents in the Territory, at its sole expense and discretion using reasonable care and skill and using counsel reasonably acceptable to Sanofi; provided that in no event shall Licensee take any
actions with respect to any Licensed Patent that would be reasonably expected to materially weaken or reduce the scope or coverage of such Licensed Patent, unless such action is reasonably necessary to advance the prosecution of such Licensed
Patent. Licensee shall, pursuant to a common interest agreement to be promptly executed by the Parties upon the request of either Party, provide Sanofi copies of correspondence regarding the prosecution and maintenance of Licensed Patents if so
requested by Sanofi. If Licensee plans to abandon any Licensed Patent in the Territory, it may only do so without Sanofi’s prior consent if Licensee concurrently files another Licensed Patent in the same jurisdiction disclosing the same subject
matter and having the same priority claim and such concurrently filed Licensed Patent, when considered with all other Licensed Patents and Derived Patents, would not materially diminish Sanofi’s economic benefits provided by all Licensed
Patents and Derived Patents prior to such abandonment. If Licensee abandons a Licensed Patent other than in accordance with the preceeding sentence, Licensee shall notify Sanofi in writing at least [***] in advance of the final due date of any
payment or other action that is required to prosecute and maintain such Licensed Patent, and Sanofi shall have the right to assume responsibility for prosecution and maintenance of such Licensed Patent at Sanofi’s sole expense and discretion,
and all licenses under such Licensed Patent granted in Section 2.1 shall terminate upon delivery of such notice. 
 7.2.2.
Derived Patents. As betwen the Parties, all Derived Patents shall be solely owned by Licensee. Licensee shall have the sole right to prepare, file, prosecute, maintain, enforce and defend (including with respect to related interference, re-issuance, re-examination and opposition proceedings) any Derived Patent in the Territory, at its sole expense and discretion using reasonable care and skill, and to retain
all recoveries in connection with any such enforcement. 

  
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 7.2.3. Cooperation. Sanofi will cooperate with Licensee to file Derived
Patents, and in connection with Licensee’s exercise of its rights and observation of its obligations with respect to Licensed Patents under Section 7.2.1, by providing evidence of assignment of rights from Sanofi’s inventor employees
or former employees, within [***] of receiving Licensee’s written request for such assignment, at Licensee’s cost and expense. In addition, Sanofi shall use reasonable efforts to make its inventor employees available and to provide
information requested by Licensee in connection with its prosecution of Licensed Patents and Derived Patents, at Licensee’s cost and expense. 

7.2.4. Patent Term Extension and Supplementary Protection Certificate.
Licensee shall have the sole right to apply for patent term extensions, including supplementary protection certificates and any other extensions that are now or become available in the
future, wherever applicable, for the Licensed Patents and Derived Patents in any country in the Territory, at its sole cost and expense. Licensee shall provide Sanofi with a plan for seeking patent term extensions at least [***] in advance of making
any application for same, and Licensee shall take into consideration comments on such plan received from Sanofi. Sanofi shall provide reasonable assistance in connection with any application for any patent term extensions as reasonably requested by
Licensee. 
 7.2.5. Omitted Licensed Patents. If after the Effective Date, Licensee becomes aware of a Patent in a country in
the Territory which it believes Sanofi or its Affiliates may have Controlled as of the Effective Date and which Patent may have been omitted from Schedule 1.61 (Licensed Patents), Licensee shall so notify Sanofi. Within [***] of
receipt of Licensee’s notice in accordance with the preceding sentence, Sanofi shall either (a) notify Licensee that such Patents was not Controlled by it as of the Effective Date, or (b) provide an update to Schedule 1.61
(Licensed Patents) to include such Patent. If after the Effective Date, Sanofi becomes aware that a Patent in a country in the Territory which it Controlled as of the Effective Date may have been omitted from Schedule 1.61 (Licensed Patents),
Sanofi shall as soon as practicable provide Licensee with an update to Schedule 1.61 (Licensed Patents) to include such Patent. 

7.3 Enforcement of Patents. 

7.3.1. Notice. In the event either Party becomes aware of (a) any suspected infringement of any Licensed Patents or
(b) any certification filed under the Hatch-Waxman Act claiming that any Licensed Patents are invalid or unenforceable or claiming that any Licensed Patents would not be infringed by the making, use, offer for sale, sale or import of a product
for which an application under the Hatch-Waxman Act is filed, or any equivalent or similar certification or notice in any other jurisdiction in the Territory (each of clauses (a) and (b), an “Infringement”), such Party shall
promptly notify the other Party and provide it with the details of such Infringement of which it is aware (each, an “Infringement Notice”). 

7.3.2. Licensed Patents in the Territory. Licensee shall have the first right, but not the obligation, through counsel of its
choosing, to initiate an infringement action with respect to any Infringement of any Licensed Patents at its sole cost and expense. Licensee may, subject to Section 2.3, grant the infringing Third Party a sublicense as it deems appropriate. If
Licensee does not initiate such an infringement action within [***] (or [***] in the case of any Infringement described in clause (b) of the definition thereof) of learning of such Infringement, or earlier notifies

  
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Sanofi in writing of its intent not to so initiate an action, and Licensee has not granted such infringing Third Party rights and licenses to continue its otherwise infringing activities, then
Sanofi shall have the right, but not the obligation, to bring such an action. If Licensee has commenced negotiations with an alleged infringer to discontinue such infringement within such [***] or [***] period, as applicable, referred to in the
preceding sentence, Sanofi may not bring suit for such Infringement. 
 7.3.3. Settlement. The Party that controls the
enforcement of a given Infringement claim pursuant to Section 7.3.2 also shall have the right to control settlement of such claim; provided that no settlement shall be entered into without the prior consent of the other Party, which
consent shall not be unreasonably withheld, if such settlement would adversely affect or diminish the rights or benefits of the other Party under this Agreement, or impose any new obligations or adversely affect any obligations of the other Party
under this Agreement. 
 7.3.4. Cooperation. In the event a Party is entitled to and brings an infringement action in
accordance with this Section 7.3, the non-controlling Party shall provide reasonable assistance and cooperation, if requested by the controlling Party at its cost, including being joined as a party
plaintiff in such action, providing reasonable access to relevant documents and other evidence and making its employees reasonably available at reasonable business hours. If a Party pursues an action against such alleged Infringement, then it shall
consider in good faith any comments from the other Party and shall keep the other Party reasonably informed of any steps taken to preclude such infringement. 

7.3.5. Costs and Recovery. Any damages or other amounts collected from any such Infringement action shall be first allocated to
reimburse the Parties for their costs and expenses in making such recovery (which amounts shall be allocated pro rata if insufficient to cover the totality of such expenses). Any remainder after such reimbursement is made shall be allocated
as follows: (a) if Sanofi is the controlling Party, such remainder shall be shared [***], or (b) if Licensee is the controlling Party, such remainder will be [***]. 

7.4 Infringement Claims by Third Parties. 

7.4.1. Defense of Third Party Claims. If a Third Party asserts that a Patent or other intellectual property right owned or
otherwise controlled by it is infringed by the Exploitation of the Licensed Products in the Field in the Territory, the Party first made aware of such a claim shall promptly provide the other Party written notice of such claim along with the related
facts in reasonable detail. Licensee shall have the first right, but not the obligation, to control the defense of such claim, at its sole cost and expense. If Licensee fails to assume control of the defense of such claim within [***] after
receiving notice thereof from, or giving notice thereof to, Sanofi pursuant to the first sentence of this Section 7.4.1, then Sanofi shall have the right, but not the obligation, to defend against any such claim that is filed against Sanofi
(but not Licensee), at its sole cost and expense. Notwithstanding the foregoing, the Party controlling such defense (the “Controlling Party”) shall not be entitled to assert a claim or counterclaim against such Third Party based on
the Patents or other intellectual property rights owned or otherwise controlled by the other Party (the “Non-Controlling Party”) without the prior written consent of the Non-Controlling Party, such consent not to be unreasonably conditioned, withheld or delayed. The Non-Controlling Party shall cooperate with the Controlling Party, at the
Controlling Party’s reasonable request and expense, in any such defense and shall have the right, at its own expense, to be represented separately by counsel of its own choice in any such proceeding. 

  
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 7.4.2. Settlement of Third Party Claims. The Controlling Party with respect to
a particular claim pursuant to Section 7.4.1 also shall have the right to control settlement of such claim; provided that (a) no settlement shall be entered into without the prior written consent of the Non-Controlling Party if such settlement would adversely affect or diminish the rights and benefits of the Non-Controlling Party under this Agreement, or impose any new
obligations or adversely affect any obligations of the Non-Controlling Party under this Agreement, and (b) the Controlling Party shall not be entitled to settle any such claim by granting a license or
covenant not to sue under or with respect to the Patents or other intellectual property rights owned or otherwise controlled by the Non-Controlling Party without the prior written consent of the Non-Controlling Party, such consent not to be unreasonably conditioned, withheld or delayed. Notwithstanding the foregoing, the Licensee will have the right to grant sublicenses under the Licensed Patents and
Licensed Know-How in accordance with Section 2.3. 
 7.4.3. Allocation of Costs.
All costs and expenses relating to any defense, settlement and judgments in actions commenced pursuant to this Section 7.4 shall be borne by the Controlling Party. 

7.5 Invalidity or Unenforceability Defenses or Actions. 

7.5.1. Third Party Defense or Counterclaim.  

(a) If a Third Party asserts, as a defense or as a counterclaim in any infringement action under Section 7.3 or claim or counterclaim
asserted under Section 7.4, or in a declaratory judgment action or similar action or claim filed by such Third Party, that any Licensed Patent is invalid or unenforceable, then the Party pursuing such infringement action, or the Party first
obtaining knowledge of such declaratory judgment action, as the case may be, shall promptly give written notice to the other Party. 
 (b)
Licensee shall have the first right, but not the obligation, through counsel of its choosing, at its sole cost and expense, to defend against such action. If Licensee fails to exercise its first right to control of the defense of such action within
[***] after receiving notice thereof from, or giving notice thereof to, then Sanofi shall have the right to defend such action, through counsel of its choosing, at its sole cost and expense, to defend against such action. If Sanofi defends such
action, all licenses under such Licensed Patents granted in Section 2.1 shall terminate. 
 7.5.2. Assistance. Each Party
shall assist and cooperate with the other Party as such other Party may reasonably request from time to time in connection with its activities set forth in Section 7.5.1, including by providing access to relevant documents and other evidence
and making its employees reasonably available at reasonable business hours; provided that neither Party shall be required to disclose legally privileged information unless and until procedures reasonably acceptable to such Party are in place
to protect such privilege. In connection with any such defense or claim or counterclaim, the Controlling Party shall consider in good faith any comments from the other Party and shall keep the other Party reasonably informed of any steps taken, and
shall provide copies of all documents filed, in connection with such defense, claim or counterclaim. In connection with the activities set forth in Section 7.5.1, each Party shall consult with the other as to the strategy for the defense of the
Licensed Patents. 

  
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 7.6 Third Party Licenses. If Licensee obtains a license from any Third Party
in order to Exploit a Licensed Product in the Field in the Territory, Licensee shall be responsible for all license fees, milestones, royalties or other such payments due to such Third Party. 

7.7 Product Trademarks. 

7.7.1. Selection and Ownership of Product Trademarks. Licensee shall have the right to select and own the Product Trademarks to
be used with respect to the Exploitation of the Licensed Products in the Field in the Territory, at its costs and expense. 
 7.7.2.
Maintenance and Prosecution of Product Trademarks. Licensee shall have sole control over and decision-making authority with respect to the registration, prosecution and maintenance of Product Trademarks, at its cost and expense. 

7.7.3. Enforcement of Product Trademarks. Licensee shall have the sole right to take action against a Third Party based on any
alleged, threatened or actual infringement, dilution, misappropriation, or other violation of, or unfair trade practices or any other like offense relating to, the Product Trademarks by a Third Party in the Territory. Licensee shall bear the costs
and expenses relating to any enforcement action commenced pursuant to this Section 7.7.3 and any settlements and judgments with respect thereto and shall retain any damages or other amounts collected in connection therewith. 

7.7.4. Third Party Claims. Licensee shall have the sole right to defend against any alleged, threatened or actual claim by a
Third Party that the use or registration of the Product Trademarks in the Territory infringes, dilutes, misappropriates or otherwise violates any Trademark or other right of such Third Party or constitutes unfair trade practices or any other like
offense, or any other claims as may be brought by a Third Party against a Party in connection with the use of the Product Trademarks with respect to a Licensed Product in the Territory. Licensee shall bear the costs and expenses relating to any
defense commenced pursuant to this Section 7.7.4 and any settlements and judgments with respect thereto, and shall retain any damages or other amounts collected in connection therewith. 

  
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 ARTICLE 8 

PHARMACOVIGILANCE AND SAFETY 

8.1 Global Safety Database. Licensee shall be responsible for setting up, holding and maintaining (at Licensee’s sole cost
and expense) the global safety database for the Licensed Products in the Territory. To the extent required by Applicable Law, upon on Sanofi’s request, Licensee shall grant Sanofi access to such global safety database for the Licensed Products.

 8.2 Pharmacovigilance Agreement. To the extent required by Applicable Law, the Parties shall execute a safety data exchange
or other applicable pharmacovigilance agreement. 
 ARTICLE 9 

CONFIDENTIALITY AND NON-DISCLOSURE 

9.1 Confidentiality Obligations. At all times during the Term and for a period of [***] following termination or expiration of
this Agreement, each Party shall, and shall cause its Affiliates and, in the case of Licensee as the Receiving Party shall require its Sublicensees, and with respect to both Parties their respective officers, directors, employees and agents to, keep
completely confidential and not publish or otherwise disclose and not use, directly or indirectly, for any purpose, any Confidential Information furnished or otherwise made known to it, directly or indirectly, by the other Party, except to the
extent such disclosure or use is expressly permitted by the terms of this Agreement or such use is reasonably necessary for the performance of its obligations or the exercise of its rights under this Agreement. “Confidential
Information” means any information provided by one (1) Party or its Affiliates (the “Disclosing Party”) to the other Party or its Affiliates (the “Receiving Party”) under or in connection with this
Agreement, including the terms of this Agreement or any information relating to the Licensed Products, any information relating to any Exploitation of the Licensed Products in the Territory or the scientific, regulatory or business affairs or other
activities of either Party; provided that Sanofi shall not publicly disclose the Licensed Know-How (for as long as it remains Confidential Information) without Licensee’s prior written consent.
Notwithstanding the foregoing, Confidential Information shall not include any information that: 
 9.1.1. is or hereafter becomes part
of the public domain by public use, publication, general knowledge or the like through no wrongful act or omission on the part of the Receiving Party in breach of this Agreement; 

9.1.2. was obtained or was already known by the Receiving Party or any of its Affiliates without obligation of confidentiality as a
result of disclosure from a Third Party legally in possession thereof that neither the Receiving Party nor any of its Affiliates knew or reasonably should have known was under an obligation of confidentiality to the Disclosing Party or any of its
Affiliates with respect to such information; 
 9.1.3. is subsequently received by the Receiving Party from a Third Party legally in
possession thereof who is not bound by any obligation of confidentiality with respect to such information; or 

  
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 9.1.4. can be demonstrated by documentation or other competent evidence to have been
independently developed by or for the Receiving Party without access or reference to the Disclosing Party’s Confidential Information. 
 Specific
aspects or details of Confidential Information shall not be deemed to be within the public domain or in the possession of the Receiving Party merely because the Confidential Information is embraced by more general information in the public domain or
in the possession of the Receiving Party. Further, any combination of Confidential Information shall not be considered in the public domain or in the possession of the Receiving Party merely because individual elements of such Confidential
Information are in the public domain or in the possession of the Receiving Party unless the combination and its principles are in the public domain or in the possession of the Receiving Party. 

9.2 Permitted Disclosures. Each Receiving Party may disclose Confidential Information disclosed to it by the Disclosing Party to
the extent that such disclosure by the Receiving Party is: 
 9.2.1. to its or its Affiliates’ employees or agents who require
access thereto for the performance of the Receiving Party’s obligations or the exercise of its rights under this Agreement and who are under written obligations of confidentiality and non-use that are
substantially similar to the Receiving Party’s obligations hereunder; 
 9.2.2. necessary to comply with Applicable Law
including disclosure that a Party is compelled to make in response to a valid order of a court of competent jurisdiction or other supra-national, federal, national, regional, state, provincial and local governmental or regulatory body of competent
jurisdiction (including prosecution or defense of litigation) if, in the reasonable opinion of the Receiving Party’s counsel, such disclosure is necessary for such compliance with Applicable Law; provided that the Receiving Party shall first
have given notice, to the extent legally permitted, to the Disclosing Party and given the Disclosing Party a reasonable opportunity to quash such order and to obtain a protective order requiring that the Confidential Information and documents that
are the subject of such order be held in confidence by such court or agency or, if disclosed, be used only for the purposes for which the order was issued; and provided, further, that if a disclosure order is not quashed or a protective order is not
obtained, then the Confidential Information disclosed in response to such court or governmental order shall be limited to the information that is legally required to be disclosed in response to such court or governmental order; 

9.2.3. necessary to comply with the rules and regulations of the U.S. Securities and Exchange Commission or any other securities
exchange in any jurisdiction in the Territory) applicable to a Party (each, a “Securities Regulator”), which disclosure is, in the reasonable opinion of the Receiving Party’s counsel, necessary for such compliance with the
requirements of such securities exchange, provided that the Party making the disclosure gives the other Party advance notice, to the extent practicable, pursuant to Section 9.4, and in connection therewith, each Party acknowledges and agrees
that the other Party may submit this Agreement to, or file this Agreement with, such Securities Regulators, provided that if a Party intends to submit this Agreement to, or intends to file this Agreement with, any Securities Regulator, such Party
agrees to engage in a reasonable consultation, on not less than [***] advance notice (further provided that such advance notice shall be [***] during the [***]), with the other Party with respect to the preparation and submission of a confidential
treatment request for this Agreement to be disclosed to such Securities Regulator; 

  
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 9.2.4. in the case of Licensee, made by the Receiving Party to a Regulatory Authority
as required in connection with any filing, application or request for Market Approval, or made to a Third Party in connection with the Development, Manufacture or Commercialization of Licensed Products or Licensee’s exercise of its rights or
performance of its obligations hereunder, provided that such Third Party signs an agreement that contains obligations of confidentiality that are substantially similar to the Receiving Party’s obligations hereunder; 

9.2.5. made by the Receiving Party to file or prosecute Patent applications, prosecute or defend litigation or otherwise establish
rights or enforce obligations under this Agreement; 
 9.2.6. made by the Receiving Party to actual or prospective acquirers, merger
candidates, or, with respect to Sanofi as the Receiving Party, investors in connection with a Monetization or, with respect to Licensee as the Receiving Party, actual or prospective investors and Sublicensees (and to its and their respective
Affiliates, representatives and financing sources); provided that (a) each such Third Party signs an agreement that contains obligations of confidentiality that are substantially similar to the Receiving Party’s obligations
hereunder (except that the obligations under such agreement may terminate [***] after disclosure of the relevant information), and (b) each such Third Party to whom information is disclosed shall (i) be informed of the confidential nature
of the Confidential Information so disclosed and (ii) agree to hold such Confidential Information subject to the terms thereof. 

9.3 Use of Name. Except as expressly provided in this Agreement, neither Party shall mention or otherwise use the name,
insignia, symbol or other Trademark of the other Party (or any abbreviation or adaptation thereof) in any publication, press release, marketing and promotional material or other form of publicity without the prior written approval of such other
Party in each instance, such approval not to be unreasonably conditioned, withheld or delayed. The restrictions imposed by this Section 9.3 shall not prohibit either Party from making any disclosure (a) identifying the other Party as a
counterparty to this Agreement if such disclosure is required by Applicable Law or the requirements of a national securities exchange or another similar regulatory body (provided that any such disclosure shall be governed by this Article 9)
or (b) with respect to which written consent has previously been obtained. Further, the restrictions imposed on each Party under this Section 9.3 are not intended, and shall not be construed, to prohibit a Party from identifying the other
Party in its internal business communications, provided that any Confidential Information in such communications remains subject to this Article 9. 

9.4 Press Releases. Each Party shall have the right to issue a press release in the form attached hereto as Schedule 9.4
(the “Initial Press Release(s)”) on or after the Effective Date. Except for the Initial Press Release or as otherwise permitted in accordance with Section 9.2, no Party shall issue any press release or other similar public
communication relating to the terms of this Agreement, its subject matter or the transactions covered by it, without the prior written approval of the other Party. If a Party wishes to issue any press release or other similar public communication
relating to this Agreement, its subject matter or the transactions covered by it, then such Party shall provide the other Party reasonable opportunity to review and comment on any 

  
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such press release or public communication at least [***] in advance thereof (to the extent permitted under Applicable Law), and further provided that the period of review and comment shall
notwithstanding the foregoing be [***] during the [***], and the issuing Party shall act in good faith to incorporate any comments provided by the other Party on such press release or public communication. This Section 9.4 shall not apply with
respect to information that has been previously disclosed by any Party publicly in accordance with the terms of this Agreement. 

9.5 Destruction of Confidential Information. At the written request of the Disclosing Party, the Receiving Party shall promptly
destroy all documentary, electronic or other tangible embodiments of the Disclosing Party’s Confidential Information to which the Receiving Party does not retain rights hereunder and any and all copies thereof, and destroy those portions of any
documents that incorporate or are derived from the Disclosing Party’s Confidential Information to which the Receiving Party does not retain rights hereunder, and provide a written certification of such destruction, except that the Receiving
Party may retain one (1) copy thereof, to the extent that the Receiving Party requires such Confidential Information for the purpose of performing any obligations or exercising any rights under this Agreement that may survive such expiration or
termination, or for archival or compliance purposes. Notwithstanding the foregoing, the Receiving Party also shall be permitted to retain such additional copies of or any computer records or files containing the Disclosing Party’s Confidential
Information that have been created solely by the Receiving Party’s automatic archiving and back-up procedures, to the extent created and retained in a manner consistent with the Receiving Party’s
standard archiving and back-up procedures, but not for any other use or purpose. 
 9.6
Publications. Sanofi shall not publish or otherwise publicly present any results of studies related to Licensed Compounds or Licensed Products without the prior written approval of Licensee, which Licensee may grant or withhold in its sole
discretion. In the event that Sanofi wishes to publish any scientific paper, presentation or other public disclosure regarding the Licensed Compounds, it shall submit a draft of such publication at least [***] prior to the planned publication date,
and Licensee shall notify Sanofi by the end of such period if Licensee consents to such publication. Nothing in this Agreement will restrict, or be deemed to restrict, Licensee from publishing or presenting the results of any studies conducted
hereunder related to Licensed Compounds or Licensed Products and to include Licensed Know-How in such publication or presentation. Any publication by any Party shall include recognition of the contributions of
the other Party according to standard practice for assigning scientific credit, either through authorship or acknowledgement, as may be appropriate. 

9.7 Arising Information and Inventions. Licensee shall have the right to disclose publicly any and all Information and
Inventions that are conceived, discovered, developed or otherwise made by or on behalf of Licensee or its Affiliates under, or in the performance of its obligations or exercise of its rights under, this Agreement.  

  
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 ARTICLE 10 

REPRESENTATIONS AND WARRANTIES 

10.1 Mutual Representations and Warranties. Each Party hereby represents and warrants to the other Party as of the Effective
Date as follows: 
 10.1.1. Corporate Authority. Such Party (a) has the power and authority and the legal right to enter
into this Agreement and perform its obligations hereunder, (b) has taken all necessary action on its part required to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder, and (c) is duly
organized and validly existing under the Applicable Law of its jurisdiction of incorporation and has full corporate power and authority and has taken all corporate action necessary to enter into and perform this Agreement. This Agreement has been
duly executed and delivered by such Party and constitutes a legal, valid and binding obligation of such Party and is enforceable against it in accordance with its terms subject to the effects of bankruptcy, insolvency or other laws of general
application affecting the enforcement of creditor rights and judicial principles affecting the availability of specific performance and general principles of equity, whether enforceability is considered in a proceeding at law or equity. 

10.1.1. Conflicts. The execution and delivery of this Agreement and the performance of such Party’s obligations hereunder
(a) do not conflict with or violate any requirement of Applicable Law or any provision of the articles of incorporation or bylaws of such Party in any material way and (b) do not conflict with, violate or breach or constitute a default or
require any consent under, any contractual obligation or court or administrative order by which such Party is bound. 
 10.2
Representations and Warranties of Sanofi. Sanofi represents and warrants to Licensee, as of the Effective Date: 
 10.2.1.
Control. Sanofi or one of its Affiliates is the sole owner of and Sanofi Controls the Patents listed on Schedule 1.61, the Information and Inventions listed on Schedule 1.60, and the Transferred Materials listed on Schedule
2.6, and to the knowledge of the Sanofi personnel involved with this transaction, after having made reasonable inquiry, the Licensed Patents listed on Schedule 1.61, Licensed Know-How listed on
Schedule 1.60 and Transferred Materials listed on Schedule 2.6 are free and clear of all liens and encumbrances. 

10.2.2. License. Sanofi has the right to grant the licenses granted to Licensee hereunder on its own behalf and on behalf of its
Affiliates, and no Third Party has been granted any rights to the Licensed Patents, Licensed Know-How and Transferred Materials. 

10.2.3. Licensed Patents. To the knowledge of the Sanofi personnel having responsibility for such matters, after having made
reasonable inquiry, Schedule 1.61 (Licensed Patents) contains all the Patents filed by Sanofi or its Affiliates covering, claiming or disclosing any Information and Inventions made during its Development of the Licensed Compounds. 

10.2.4. Licensed Know-How. To the knowledge of the Sanofi personnel having
responsibility for such matters, after having made reasonable inquiry, Schedule 1.60 (Licensed Know-How) contains substantially all of the Information and Inventions created by or on behalf of Sanofi or
its Affiliates during its Development of the Licensed Compounds. 

  
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 10.3 Covenant of Licensee. Neither Licensee nor any of its Affiliates will use
in any capacity, in connection with the activities to be performed under this Agreement, any Person who has been debarred pursuant to Section 306 of the FFDCA or who is the subject of a conviction described in such section. Licensee shall
inform Sanofi in writing promptly if it or any Person who is performing activities hereunder is debarred or is the subject of a conviction described in Section 306 or if any action, suit, claim, investigation or legal or administrative
proceeding is pending or, to the best of Licensee’s knowledge, is threatened, relating to the debarment or conviction of Licensee or any Person performing activities hereunder. 

10.4 DISCLAIMER OF WARRANTY. EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH IN SECTION 10.1 AND 10.2, NEITHER PARTY MAKES ANY
REPRESENTATIONS OR GRANTS ANY WARRANTY, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, AND EACH PARTY SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, INCLUDING ANY
WARRANTY OF QUALITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR USE WITH RESPECT TO THE TRANSFERRED MATERIALS OR PURPOSE OR ANY WARRANTY AS TO FREEDOM TO OPERATE OR THE VALIDITY OF ANY LICENSED PATENTS OR THE
NON-INFRINGEMENT OF ANY INTELLECTUAL OR OTHER PROPERTY RIGHTS OF THIRD PARTIES. 
 10.5
ADDITIONAL WAIVER. LICENSEE AGREES THAT: (A) SANOFI WILL HAVE NO LIABILITY TO LICENSEE FOR ANY ACT OR OMISSION IN THE PREPARATION, FILING, PROSECUTION, MAINTENANCE, ENFORCEMENT, DEFENCE OR OTHER HANDLING OF THE LICENSED PATENTS; AND
(B) LICENSEE IS SOLELY RESPONSIBLE FOR DETERMINING WHETHER THE LICENSED PATENTS HAVE APPLICABILITY OR UTILITY IN LICENSEE’S CONTEMPLATED EXPLOITATION OF THE LICENSED PRODUCT, AND LICENSEE ASSUMES ALL RISK AND LIABILITY IN CONNECTION WITH
SUCH DETERMINATION. LICENSEE AGREES THAT: (X) THE TRANSFERRED MATERIALS ARE SOLD “AS IS,” “WITH ALL FAULTS,” AND “WITH ALL DEFECTS,” AND LICENSEE EXPRESSLY WAIVES ALL RIGHTS TO MAKE ANY CLAIM WHATSOEVER AGAINST
SANOFI FOR CLAIM AS TO THE QUALITY OF FITNESS FOR A PARTICULAR PURPOSE OF THE LICENSED MATERIALS; (Y) SANOFI WILL HAVE NO LIABILITY TO LICENSEE FOR THE USE OF THE TRANSFERRED MATERIALS; AND (Z) LICENSEE IS SOLELY RESPONSIBLE FOR
DETERMINING WHETHER THE TRANSFERRED MATERIALS HAVE APPLICABILITY OR UTILITY IN LICENSEE’S CONTEMPLATED EXPLOITATION OF THE LICENSED PRODUCT, AND LICENSEE ASSUMES ALL RISK AND LIABILITY IN CONNECTION WITH SUCH DETERMINATION. 

ARTICLE 11 
 INDEMNITY

 11.1 Indemnification of Sanofi. Licensee shall indemnify Sanofi, its Affiliates and its and their respective directors,
officers, employees and agents (collectively, “Sanofi Indemnitees”), and defend and hold each of them harmless, from and against any and all losses, damages, liabilities, costs and expenses (including reasonable attorneys’ fees
and expenses) (collectively, “Losses”) in connection with any and all suits, investigations, claims or demands of Third Parties (collectively, “Third Party Claims”) arising from or occurring as a result of:
(a) the breach by Licensee of any term of this Agreement, (b) the gross negligence or willful misconduct 

  
 33 

 
on the part of any Licensee Indemnitee or (c) the Exploitation of any Licensed Compounds or Licensed Products by or on behalf of Licensee or any of its Affiliates; provided that, with
respect to any Third Party Claim for which Licensee has an obligation to any Sanofi Indemnitee pursuant to this Section 11.1 and Sanofi has an obligation to any Licensee Indemnitee pursuant to Section 11.2, each Party shall indemnify each
of the Sanofi Indemnitees or the Licensee Indemnitees, as applicable, for its Losses to the extent of its responsibility, relative to the other Party. 

11.2 Indemnification of Licensee. Sanofi shall indemnify Licensee, its Affiliates and its and their respective directors,
officers, employees and agents (collectively, “Licensee Indemnitees”), and defend and hold each of them harmless, from and against any and all Losses in connection with any and all Third Party Claims arising from or occurring as a
result of: (a) the breach by Sanofi of this Agreement or (b) the gross negligence or willful misconduct on the part of any Sanofi Indemnitee; provided that, with respect to any Third Party Claim for which Sanofi has an obligation to
any Licensee Indemnitee pursuant to this Section 11.2 and Licensee has an obligation to any Sanofi Indemnitee pursuant to Section 11.1, each Party shall indemnify each of the Sanofi Indemnitees or the Licensee Indemnitees, as applicable,
for its Losses to the extent of its responsibility, relative to the other Party. 
 11.3 Notice of Claim. All indemnification
claims in respect of a Sanofi Indemnitee or a Licensee Indemnitee shall be made solely by Sanofi or Licensee, as applicable (each of Sanofi or Licensee in such capacity, the “Indemnified Party” and the Party owing the
indemnification obligation under this Agreement, the “Indemnifying Party”). The Indemnified Party shall give the Indemnifying Party prompt written notice (an “Indemnification Claim Notice”) of any Losses or
discovery of fact upon which such Indemnified Party intends to base a request for indemnification under Section 11.1 or Section 11.2, but in no event shall the Indemnifying Party be liable for any Losses that result from any delay in
providing such notice other than in the event such delay materially prejudices the Indemnifying Party’s ability to defend the applicable claim. Each Indemnification Claim Notice must contain a description of the claim and the nature and amount
of such Loss (to the extent that the nature and amount of such Loss is known at such time). The Indemnified Party shall furnish promptly to the Indemnifying Party copies of all papers and official documents received in respect of any Losses and
Third Party Claims. 
 11.4 Control of Defense. 

11.4.1. Control of Defense. The Indemnifying Party will assume the defense of any Third Party Claim by giving written notice to
the Indemnified Party within [***] after the Indemnifying Party’s receipt of an Indemnification Claim Notice. The assumption of the defense of a Third Party Claim by the Indemnifying Party shall not be construed as an acknowledgment that the
Indemnifying Party is liable to indemnify any Sanofi Indemnitee or Licensee Indemnitee, as applicable, in respect of the Third Party Claim, nor shall it constitute a waiver by the Indemnifying Party of any defenses it may assert against a Sanofi
Indemnitee’s or a Licensee Indemnitee’s, as applicable, claim for indemnification. Upon assuming the defense of a Third Party Claim, the Indemnifying Party may appoint as lead counsel in the defense of the Third Party Claim any legal
counsel selected by the Indemnifying Party. In the event the Indemnifying Party assumes the defense of a Third Party Claim, the Indemnified Party shall immediately deliver to the Indemnifying Party all original notices and documents (including court
papers) received by any Sanofi Indemnitee or Licensee Indemnitee, as applicable, in connection with the Third Party 

  
 34 

 
Claim. If the Indemnifying Party assumes the defense of a Third Party Claim, except as provided in Section 11.4.2, the Indemnifying Party shall not be liable to the Indemnified Party for any
legal expenses subsequently incurred by such Indemnified Party or any Sanofi Indemnitee or Licensee Indemnitee, as applicable, in connection with the analysis, defense or settlement of such Third Party Claim. In the event that it is ultimately
determined that the Indemnifying Party is not obligated to indemnify, defend or hold harmless a Sanofi Indemnitee or Licensee Indemnitee, as applicable, from and against a Third Party Claim, the Indemnified Party shall reimburse the Indemnifying
Party for any and all costs and expenses (including attorneys’ fees and costs of suit) incurred by the Indemnifying Party in its defense of such Third Party Claim. 

11.4.2. Right to Participate in Defense. Without limiting Section 11.4.1, any Indemnified Party shall be entitled to
participate in, but not control, the defense of a Third Party Claim and to employ counsel of its choice for such purpose; provided that such employment shall be at the Indemnified Party’s own expense unless (a) the employment
thereof has been specifically authorized by the Indemnifying Party in writing, (b) the Indemnifying Party has failed to assume the defense and employ counsel in accordance with Section 11.4.1 (in which case the Indemnified Party shall
control the defense) or (c) the interests of the Indemnified Party and any Sanofi Indemnitee or Licensee Indemnitee, as applicable, on the one hand, and the Indemnifying Party, on the other hand, with respect to such Third Party Claim are
sufficiently adverse to prohibit the representation by the same counsel of all such Persons under Applicable Law, ethical rules or equitable principles. 

11.4.3. Settlement. With respect to any Third Party Claims relating solely to the payment of money damages in connection with a
Third Party Claim that shall not result in any Sanofi Indemnitee or Licensee Indemnitee, as applicable, becoming subject to injunctive or other relief or otherwise adversely affecting the business of any Sanofi Indemnitee or Licensee Indemnitee, as
applicable, in any manner and as to which the Indemnifying Party shall have acknowledged in writing the obligation to indemnify such Sanofi Indemnitee or Licensee Indemnitee, as applicable, hereunder, the Indemnifying Party shall have the sole right
to consent to the entry of any judgment, enter into any settlement or otherwise dispose of such Third Party Claim, on such terms as the Indemnifying Party, in its sole discretion, shall deem appropriate. With respect to all other Third Party Claims,
where the Indemnifying Party has assumed the defense of the Third Party Claim in accordance with Section 11.4.1, the Indemnifying Party shall have authority to consent to the entry of any judgment, enter into any settlement or otherwise dispose
of such Third Party Claim, provided that it obtains the prior written consent of the Indemnified Party (such consent not to be unreasonably conditioned, withheld or delayed). The Indemnifying Party shall not be liable for any settlement or
other disposition of a Third Party Claim by a Sanofi Indemnitee or a Licensee Indemnitee that is reached without the prior written consent of the Indemnifying Party. Regardless of whether the Indemnifying Party chooses to defend or prosecute any
Third Party Claim, the Indemnified Party shall not, and the Indemnified Party shall ensure that each Sanofi Indemnitee or Licensee Indemnitee, as applicable, does not, admit any liability with respect to or settle, compromise or discharge, any Third
Party Claim without the prior written consent of the Indemnifying Party, such consent not to be unreasonably conditioned, withheld or delayed. 

  
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 11.4.4. Cooperation. The Indemnified Party shall, and shall cause each Sanofi
Indemnitee or Licensee Indemnitee, as applicable, to, cooperate in the defense or prosecution thereof and shall furnish such records, information and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings,
trials and appeals as may be reasonably requested in connection therewith. Such cooperation shall include access during normal business hours afforded to the Indemnifying Party to, and reasonable retention by the Indemnified Party and any Sanofi
Indemnitee or Licensee Indemnitee, as applicable, of, records and information that are reasonably relevant to such Third Party Claim, and making all Sanofi Indemnitees or Licensee Indemnitees, as applicable, and other employees and agents available
on a mutually convenient basis to provide additional information and explanation of any material provided hereunder; provided that neither Party shall be required to disclose legally privileged information unless and until procedures
reasonably acceptable to such Party are in place to protect such privilege, and the Indemnifying Party shall reimburse the Indemnified Party for all its reasonable costs and expenses in connection therewith. 

11.4.5. Expenses. Except as provided above, the costs and expenses, including fees and disbursements of counsel, incurred by the
Indemnified Party in connection with any Third Party Claim shall be reimbursed on a Calendar Quarter basis by the Indemnifying Party, without prejudice to the Indemnifying Party’s right to contest any Sanofi Indemnitee’s or Licensee
Indemnitee’s, as applicable, right to indemnification and subject to refund in the event the Indemnifying Party is ultimately held not to be obligated to indemnify a Sanofi Indemnitee or Licensee Indemnitee, as applicable. 

11.5 Limitation on Damages and Liability. EXCEPT IN CIRCUMSTANCES OF GROSS NEGLIGENCE OR INTENTIONAL MISCONDUCT BY A PARTY OR
ITS AFFILIATES, OR WITH RESPECT TO THIRD PARTY CLAIMS UNDER SECTION 11.1 OR SECTION 11.2, OR WITH RESPECT TO A BREACH OF ARTICLE 9, NEITHER PARTY NOR ANY OF THEIR RESPECTIVE AFFILIATES SHALL BE LIABLE FOR SPECIAL, INDIRECT, INCIDENTAL OR
CONSEQUENTIAL DAMAGES, OR FOR LOST PROFITS OR LOST REVENUE, WHETHER IN CONTRACT, WARRANTY, NEGLIGENCE, TORT, STRICT LIABILITY OR OTHERWISE, ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT, EVEN IF SUCH PARTY HAS BEEN INFORMED OR SHOULD HAVE KNOWN
OF THE POSSIBILITY OF SUCH DAMAGES. 
 11.6 Insurance. Licensee shall, and shall cause its Affiliates to, have and maintain
such type and amounts of liability insurance covering the Exploitation of the Licensed Products as is normal and customary in the pharmaceutical industry generally for parties similarly situated, and shall upon request provide Sanofi with a copy of
its policies of insurance in that regard, along with any amendments and revisions thereto. Maintenance of such insurance coverage shall not relieve Licensee of any responsibility under this Agreement for damages in excess of insurance limits or
otherwise. 

  
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 ARTICLE 12 

TERM AND TERMINATION 

12.1 Term. This Agreement shall commence on the Effective Date and shall, unless earlier terminated in accordance with this
Article 12, continue (a) with respect to each Licensed Product in each country in the Territory, until the expiration of the Royalty Term for such Licensed Product in such country and (b) with respect to this Agreement in its entirety,
until the expiration of the Royalty Term for the last Licensed Product for which there has been a First Commercial Sale in the Territory (such period, the “Term”). Upon expiry of the Term with respect to a Licensed Product and
country, Licensee’s license with respect to the applicable Licensed Product in the applicable country will become fully paid-up, perpetual and irrevocable. 

12.2 Termination of this Agreement for Material Breach. In the event that a Party materially breaches this Agreement (such
Party, the “Breaching Party”), the other Party (the “Complaining Party”) may, in addition to any other right and remedy it may have, terminate this Agreement (in its entirety or on a Licensed Product-by-Licensed Product basis) upon [***] prior written notice (the “Termination Notice Period”) to the Breaching Party, specifying the material breach
and its claim of right to terminate; provided however that (a) the termination shall not become effective at the end of the Termination Notice Period if the Breaching Party cures the material breach complained of during the Termination Notice
Period, except in the case of a payment breach, as to which the Breaching Party shall have [***] cure period, (b) if such breach is not reasonably capable of cure within the Termination Notice Period, the Breaching Party may submit a cure plan
reasonably acceptable to the Complaining Party prior to the end of the Termination Notice Period, in which case the Termination Notice Period shall be extended for so long as the Breaching Party is using reasonable efforts to implement such cure
plan, (c) if the Breaching Party disputes in good faith the existence or materiality of a breach specified in a notice provided by the Complaining Party in accordance with this Section 12.2, and such Breaching Party provides the
Complaining Party notice of such dispute within the Termination Notice Period (or the [***] period, if applicable), then the Complaining Party shall not have the right to terminate this Agreement under this Section 12.2 unless and until a final
decision under Section 13.5 determines that the Breaching Party has materially breached this Agreement and such Breaching Party fails to cure such breach within [***] (or, with respect to a payment breach, [***]) following such decision; and
(d) if the breach relates to one or more (but not all) Licensed Products, then the Complaining Party shall have the right to terminate this Agreement solely with respect to the applicable Licensed Product and not with respect to this Agreement
in its entirety. 
 12.3 Termination by Licensee at Will. Licensee shall have the right to terminate this Agreement on ninety
(90) days’ prior written notice to Sanofi. 
 12.4 Termination by Sanofi for Patent Challenge. In the event that
anywhere in the Territory, Licensee or any of its Affiliates institutes, prosecutes or otherwise participates in (or in any way aids any Third Party in instituting, prosecuting or participating in), at law or in equity or before any administrative
or regulatory body, including the U.S. Patent and Trademark Office or its foreign counterparts, any claim, demand, action or cause of action for declaratory relief, damages or any other remedy or for an enjoinment, injunction or any other equitable
remedy, including any interference, re-examination, opposition or any similar proceeding, alleging that any claim in a Licensed Patent is invalid, unenforceable or otherwise not patentable, Sanofi may
terminate this Agreement upon [***] prior written notice to Licensee; provided that such termination will not be effective if Licensee or its Affiliate withdraws the applicable claim, demand, action, cause of action or other proceeding within such
[***] period. The foregoing will not apply to, and Sanofi will not have a termination right on account of: (i) activities in the normal course of patent prosecution, (ii) defense to a claim, including a counter-claim, first brought by
Sanofi or any of its Affiliates, (iii) responding to compulsory discovery, subpoenas or other requests for information in a judicial or arbitration proceeding or (iv) complying with any applicable law, regulation or court order. 

  
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 12.5 Termination Upon Insolvency. Each Party shall have the right to
immediately terminate this Agreement if, at any time, the other Party (a) files in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or
for an arrangement or for the appointment of a receiver or trustee of such other Party or of its assets, (b) proposes a written agreement of composition or extension of its debts, (c) is served with an involuntary petition against it,
filed in any insolvency proceeding that is not dismissed within [***] after the filing thereof, (c) proposes or is a party to any dissolution or liquidation, or (d) makes an assignment for the benefit of its creditors. 

12.6 Rights in Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by Sanofi are, and shall
otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of right to “intellectual property” as defined under Section 101 of the U.S. Bankruptcy Code. The Parties agree that Licensee, as
licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or
against Sanofi under the U.S. Bankruptcy Code, Licensee shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, which, if not already in
Licensee’s possession, shall be promptly delivered to it (a) upon any such commencement of a bankruptcy proceeding upon Licensee’s written request therefor, unless Sanofi elects to continue to perform all of its obligations under this
Agreement or (b) if not delivered under (a) above, following the rejection of this Agreement by or on behalf of Sanofi upon written request therefor by Licensee. To the extent available in countries other than the U.S., Applicable Law
similar to Section 365(n) of the U.S. Bankruptcy Code shall be applied so as to treat this Agreement as an executory contract. 

12.7 Consequences of Termination. In the event of a termination of this Agreement, in its entirety or with respect to a specific
Licensed Product, as applicable: 
 12.7.1. all rights and licenses granted by Sanofi under this Agreement or with respect to the
specific terminated Licensed Product, as applicable, shall immediately terminate and all rights granted to Licensee and its Affiliates under this Agreement or with respect to such specific Licensed Product, as applicable, shall revert to Sanofi; and

 12.7.2. to the extent that any Sublicensee has complied with its sublicense agreement and agrees to assume all obligations of
Licensee hereunder with respect to the scope of the sublicense, Sanofi shall, at such Sublicensee’s request, enter into a direct license agreement with such Sublicensee (and the sublicense will survive as a direct license until the entry into
such direct license agreement); and 

  
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 12.7.3. if Sanofi has an interest in assuming the Exploitation of the Licensed
Compounds in the Field in the Territory, the Parties shall negotiate in good faith a license or other transaction to provide Sanofi rights to the Patents, Information and Inventions and other properties Controlled by Licensee which Sanofi may
require to so Exploit the Licensed Compounds in the Field in the Territory; provided that neither Party will be obligated to enter into any such agreement and may do so in its sole discretion. 

12.8 Accrued Rights; Surviving Obligations. 

12.8.1. Accrued Rights. Termination of this Agreement in its entirety or with respect to a specific Licensed Product, as
applicable, for any reason shall be without prejudice to any rights that shall have accrued to the benefit of a Party prior to such termination or expiration. Such termination or expiration shall not relieve a Party from obligations that are
expressly indicated to survive the termination or expiration of this Agreement. 
 12.8.2. Survival. The following Sections
and Articles shall survive the termination or expiration of this Agreement for any reason: Section 6.11 (Audit); Section 6.12 (Audit Dispute); Section 6.13 (Confidentiality) solely with regard to the auditable period up to the
effective date of termination; Section 7.4 (Infringement Claims by Third Parties) solely with respect to any enforcement actions ongoing as of the effective date of termination; Section 10.4 (Disclaimer of Warranty); Section 12.1
(Term) solely with respect to the final sentence thereof provided that Licensee’s royalty and other payment obligations have been fulfilled as of the date of expiration or termination of this Agreement; Section 12.7 (Consequences of
Termination); this Section 12.8 (Accrued Rights; Surviving Obligations); ARTICLE 1 (Definitions) to the extent necessary to give effect to surviving provisions; ARTICLE 6 (Payments) with regard to any payment obligations which accrued prior to
termination or expiration and also with regard to any post-termination or post-expiration payments; ARTICLE 9 (Confidentiality and Non-Disclosure) for the period prescribed in Section 9.1; ARTICLE 11
(Indemnity), provided that Section 11.6 (Insurance) will survive only with respect to insurable events which occurred during the period prior to termination or expiration; and ARTICLE 13 (Miscellaneous) to the extent necessary to give effect to
surviving provisions. 
 ARTICLE 13 

MISCELLANEOUS 
 13.1
Force Majeure. Neither Party shall be held liable or responsible to the other Party or be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement (other than an
obligation to make payments) when such failure or delay is caused by or results from events beyond the reasonable control of the non-performing Party, including fires, floods, earthquakes, embargoes,
shortages, epidemics, pandemics, quarantines, war, acts of war (whether war be declared or not), terrorist acts, insurrections, riots, civil commotion, strikes, lockouts or other labor disturbances (whether involving the workforce of the non-performing Party or of any other Person), acts of God or acts, omissions or delays in acting by any governmental authority (each, a “Force Majeure Event”). The
non-performing Party shall notify the other Party of a Force Majeure Event within [***] after the occurrence of such Force Majeure Event by giving written notice to the other Party stating the nature of such
Force Majeure Event, its anticipated duration, and any action being taken to avoid 

  
 39 

 
or minimize its effect. The suspension of performance shall be of no greater scope and no longer duration than is necessary and the non-performing Party
shall use commercially reasonable efforts to remedy its inability to perform. In the event that such suspension of performance lasts for more than [***] from the notice of the Force Majeure Event, and in the absence of such Force Majeure Event such
suspension of performance would be a material breach of this Agreement, such other Party shall have the right to terminate this Agreement pursuant to Section 12.2. 

13.2 Alliance Managers. Within [***] after the Effective Date, each Party shall appoint and notify the other Party of the
identity of a representative having the appropriate qualifications, including a general understanding of pharmaceutical development and commercialization issues, to act as its alliance manager under this Agreement (the “Alliance
Manager”). The Alliance Managers shall serve as the primary contact points between the Parties for the purpose of providing Sanofi with information on the progress of Licensee’s Development and Commercialization activities under this
Agreement. The Alliance Managers shall also be primarily responsible for facilitating the flow of information and otherwise promoting communication, coordination and collaboration between the Parties. Each Party may replace its Alliance Manager at
any time upon written notice to the other Party. 
 13.3 Assignment. 

13.3.1. By Either Party. Neither Party may sell, transfer, assign, delegate, pledge or otherwise dispose of, whether
voluntarily, involuntarily, by operation of law or otherwise, this Agreement or any of its rights or duties hereunder without the prior written consent of the other Party; provided that each Party may, without such consent, assign this Agreement and
its rights and obligations hereunder (a) in whole or in part to an Affiliate or (b) in its entirety to its successor in connection with its merger, acquisition or sale of all or substantially all of its assets to which this Agreement
relates; provided that such successor shall assume all obligations of the assigning Party under this Agreement. 
 13.3.2.
Violation. Any attempted assignment or delegation in violation of Section 13.3.1 shall be void and of no effect. 

13.3.3. Successors and Permitted Assigns. All validly assigned and delegated rights and obligations of a Parties hereunder shall
be binding upon and inure to the benefit of and be enforceable by and against the successors and permitted assigns of such Party, as the case may be. 

13.4 Severability. To the fullest extent permitted by Applicable Law, the Parties waive any provision of law that would render
any provision in this Agreement invalid, illegal or unenforceable in any respect. If any provision of this Agreement is held to be invalid, illegal or unenforceable, in any respect, then such provision will be given no effect by the Parties and
shall not form part of this Agreement. To the fullest extent permitted by Applicable Law and if the rights or obligations of either Party will not be materially and adversely affected, all other provisions of this Agreement shall remain in full
force and effect, and the Parties shall use their best efforts to negotiate a provision in replacement of the provision held invalid, illegal, or unenforceable that is consistent with Applicable Law and achieves, as nearly as possible, the original
intention of the Parties. 

  
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 13.5 Dispute Resolution. 

13.5.1. Executive Negotiations. If a dispute arises between the Parties out of or in connection with this Agreement, including
the interpretation, validity or performance of this Agreement or any document or instrument delivered in connection herewith (a “Dispute”), then such Dispute shall be referred to the Executive Officers designated below (or their
designees) by written notice (“Escalation Notice”) for attempted resolution of the Dispute by good faith negotiations. Any final decision agreed to by such Executive Officers shall be conclusive and binding on
the Parties. Unless otherwise provided in the Escalation Notice, the designated executive officers are as follows: 
 For
GBT:      CEO 
 For Sanofi:    Global Head of Partnering 

13.5.2. Arbitration. If the Executive Officers are unable to resolve such Dispute within [***] from the Escalation Notice (or
such other longer time period, if any, as the Parties may agree upon in writing as part of good faith negotiations), then either Party may send a notice to trigger arbitration hereunder (the “Escalation to Arbitration Notice”). If
any such Escalation to Arbitration Notice is delivered by one Party to the other hereunder, the Dispute (including the scope and applicability of this agreement to arbitrate and the propriety of commencing arbitration hereunder) shall be finally
settled by binding arbitration in accordance with the commercial arbitration rules of the International Chamber of Commerce (ICC) in force at the time when the arbitration is initiated. The tribunal shall consist of [***], who shall be neutral and
independent of the Parties and their Affiliates (the “Arbitrator”) and selected in accordance with Section 13.5.3. [***] The seat, or legal place, of arbitration shall be [***]; provided however that the arbitration shall,
unless the Parties mutually agree otherwise, be conducted using an online platform to faciliate prompt resolution of the dispute without the need to convene all Parties, their witnesses, the Arbitrator and any other persons in one physical location.
The language of the arbitration shall be [***]. Documents submitted in the arbitration that are not in [***] shall be submitted together with [***] translation. 

13.5.3. Arbitrator. No later than the [***] after an Escalation to Arbitration Notice, each Party shall deliver to the other
Party a list of [***], each of which must either be a legal professional with experience in (a) pharmaceutical licensing transactions or (b) international commercial arbitration, and the Parties shall mutually select the arbitrator from
among such [***] within [***] after exchanging such lists. If the Parties fail to mutually select an arbitrator in accordance with the preceeding sentence within the time period provided therein, either Party may request the ICC Court to make a
nomination from an ICC national committee of a neutral country provided however that the ICC Court shall only nominate a person with experience in (a) pharmaceutical licensing transactions or (b) international commercial arbitration. If
the Arbitrator resigns or ceases to be able to act prior to rendering a decision in accordance with Section 13.5.5, a replacement shall be selected in accordance with the procedure in this Section 13.5.3. 

  
 41 

 13.5.4. Arbitrator and Venue Costs. Each Party shall initially bear one half
of the fees and expenses incurred to retain (a) the Arbitrator and (b) any venue to conduct such arbitration, if the arbitration is conducted in person, which costs may be reimbursed to a Party in accordance with a decision by the
Arbitrator to award such reimbursement pursuant to Section 13.5.7. 
 13.5.5. Decisions; Timing of Decisions. The
Arbitrator shall render a written decision setting forth findings of fact and conclusions of law with the reason therefor stated, and include any remedy or other award granted to a Party in accordance with Section 13.5.7 (Arbitral Powers), no
later than [***] from the date on which the Arbitrator was selected unless (a) the Parties jointly request an extension, or (b) the Arbitrator determines, in a reasoned decision, that the interest of justice or the complexity of the case
requires that such limit be extended, provided however that any extension initated by the Arbirator shall be limited to up to an additional [***] at the Arbitrator’s discretion (or longer as agreed by the Parties in writing). The Parties
recognize that their respective rights to terminate this Agreement (if applicable, i.e., if the matter being arbitrated includes a claim of material breach) are tolled pending such decision of the Arbitrator, and therefore, each Party agrees to
fully cooperate, including by submitting relevant documents and making its personnel available in a timely manner, to ensure that a resolution of the matter will be concluded within such [***] period (or any extension thereof). 

13.5.6. Transcipt. At the request of either Party (with the expense shared equally by the Parties), a transcript of the evidence
adduced at the arbitration hearing shall be made available to the Parties. 
 13.5.7. Arbitral Powers.The Arbitrator is
empowered to award any remedy allowed by law, including money damages, prejudgment interest and attorneys’ fees, and to grant final, complete, interim, or interlocutory relief, including injunctive relief. The Arbirator’s decision, and any
award referred to therein, shall be final and binding on the Parties. The Parties undertake to carry out any award without delay. Judgment on the award may be entered in any court of competent jurisdiction. The Arbitrator shall include in his/her
final decision an allocation, if any, as to costs of the arbitration (including those described in Section 13.5.4), including deciding the proportion of such costs to be borne by each Party. The Arbitrator may take into account the
Parties’ cooperation and adhernece to timeliness during the arbitration in awarding costs and may award reimbursement of reasonable attorney’s fees to the prevailing Party. 

13.5.8. Interim Measures. Nothwithstanding anything to the contrary in this Section 13.5, each Party retains the right to
seek conservatory or interim measures from any court of competent jurisdiction, including the courts having jurisdiction by reason of either Party’s domicile. Conservatory or interim measures sought by either Party in any one or more
jurisdictions shall not preclude the Arbitrator from granting conservatory or interim measures. Conservatory or interim measures sought by either Party before the Arbitrator shall not preclude any court of competent jurisdiction from granting
conservatory or interim measures. 
 13.5.9. Confidentiality. Any arbitration proceeding hereunder shall be confidential and
the Arbitrator shall issue appropriate protective orders to safeguard each Party’s Confidential Information. Except as required by Applicable Law, neither Party shall make (or instruct the Arbitrator to make) any public announcement with
respect to the proceedings or decision of the 

  
 42 

 
arbitrators without prior written consent of the other Party. The existence of any Dispute submitted to arbitration, and the Arbitrator’s decision and any awards granted therein, shall be
kept in confidence by the Parties and the Arbitrator, except (i) as required in connection with the procedural challenge of enforcement of such decision, or (ii) as otherwise required by Applicable Law or the rules and regulations of a
Securities Regulator (consistent with Sections 9.2.2 or 9.2.3 above), or (iii) as approved with the prior written consent of the Parties. 

13.6 Exceptions. Notwithstanding Section 13.5 (Dispute Resolution), (a) any and all issues regarding the scope,
construction, validity and/or enforceability of any Patent shall be determined in a court of competent jurisdiction with respect to such Patent and (b) any and all issues regarding a breach or alleged breach of a Party’s obligations under
Article 9 (Confidentiality and Non-Disclosure) shall be determined in a court of competent jurisdiction. 

13.7 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York,
excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. The Parties agree to exclude the application to this Agreement of
the United Nations Convention on Contracts for the International Sale of Goods. 
 13.8 Service. Each Party agrees that
service of any process, summons, notice or document by registered mail to its address set forth in Section 13.9.2 shall be effective service of process for any action, suit or proceeding brought against it under this Agreement in any such
court.  
 13.9 Notices. 

13.9.1. Notice Requirements. Any notice, request, demand, waiver, consent, approval or other communication permitted or
required under this Agreement shall be in writing, shall refer specifically to this Agreement and shall be deemed given only if delivered (a) by internationally recognized overnight delivery service that maintains records of delivery or
(b) by electronic mail with a copy sent according to item (a) (unless delivery service according to item (a) is not feasible at the applicable time due to any Force Majeure), addressed to the Parties at their respective addresses specified
in Section 13.9.2 or to such other address as the Party to whom notice is to be given may have provided to the other Party in accordance with this Section 13.9. Such notice shall be deemed to have been given as of the date delivered by
such internationally recognized overnight delivery service or upon confirmed email delivery. This Section 13.9 is not intended to govern the day-to-day business
communications necessary between the Parties in performing their obligations under the terms of this Agreement. Telephone numbers are provided solely to facilitate delivery by courier. 

  
 43 

 13.9.2. Address for Notice. 

If to Licensee, to: 
 Global
Blood Therapeutics, Inc. 
 181 Oyster Point Boulevard 

South San Francisco, CA 94080 

Attn: Chief Legal Officer 

Email: tsuvari@gbt.com 
 with a
copy to (which shall not constitute notice): 
 Cooley LLP 

3175 Hanover Street 
 Palo Alto,
CA 94304 
 Attention: Marya A. Postner 

Telephone: +1 650 843 5000 

Email: mpostner@cooley.com 
 If
to Sanofi, to: 
 c/o Sanofi 

82, avenue Raspail 
 94250
Gentilly, France 
 Attention: Head of Out-Licensing Management 

Global Alliance Management, Sanofi Partnering 

Telephone: +33.1.53.77.91.21 

Email: licenses@sanofi.com 
 
13.10 Entire Agreement; Amendments. This Agreement, together with the Schedules attached hereto, sets forth and constitutes the entire agreement and understanding between the Parties with respect to the subject matter hereof, and
all prior agreements, understandings, promises and representations, whether written or oral, with respect thereto are superseded hereby, including that certain confidential disclosure agreement between Sanofi and Licensee dated September 11,
2020, as amended. No amendment of this Agreement shall be binding upon the Parties unless in writing and duly executed by authorized representatives of both Parties. 

13.11 English Language. This Agreement shall be written and executed in, and all other communications under or in connection
with this Agreement shall be in, the English language. Any translation into any other language shall not be an official version thereof, and in the event of any conflict in interpretation between the English version and such translation, the English
version shall control. 
 13.12 Equitable Relief. The Parties acknowledge and agree that the
restrictions set forth in ARTICLE 9 are reasonable and necessary to protect the legitimate interests of the other Party and that such other Party would not have entered into this Agreement in the absence of such restrictions, and that any breach or
threatened breach of any provision of ARTICLE 9 may result in irreparable injury to such other Party for which there will be no adequate remedy at law. In the event of a breach or threatened breach of any provision of ARTICLE 9, the non-breaching Party 

  
 44 

 
shall be authorized and entitled to seek from any court of competent jurisdiction injunctive relief, whether preliminary or permanent, specific performance and an equitable accounting of all
earnings, profits and other benefits arising from such breach, which rights shall be cumulative and in addition to any other rights or remedies to which such non-breaching Party may be entitled in law or
equity. Both Parties agree to waive any requirement that the other Party (a) post a bond or other security as a condition for obtaining any such relief and (b) show irreparable harm, balancing of harms, consideration of the public interest
or inadequacy of monetary damages as a remedy. Nothing in this Section 13.12 is intended, or should be construed, to limit either Party’s right to equitable relief for a breach of any other provision of this Agreement. 

13.13 Waiver and Non-Exclusion of Remedies. Any term or condition of this Agreement may
be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the Party waiving such term or condition. The waiver by
either Party of any right hereunder or of the failure to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by the other Party whether of a similar nature or
otherwise. 
 13.14 No Benefit to Third Parties. The representations, warranties, covenants
and agreements set forth in this Agreement are for the sole benefit of the Parties, their respective Affiliates and its and their successors and permitted assigns, and they shall not be construed as conferring any rights on any Third Parties. 

13.15 Affiliates. Each Party will have the right to exercise its rights and perform its obligations hereunder, in whole or in
part, through any of its Affiliates (as long as such entity remains an Affiliate of such Party). 

13.16 Further Assurance. Each Party shall duly execute and deliver, or cause to be duly
executed and delivered, such further instruments and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents and instruments, as may be necessary or as the other Party may reasonably
request in connection with this Agreement or to carry out more effectively the provisions and purposes hereof, or to better assure and confirm unto such other Party its rights and remedies under this Agreement. 

13.17 Relationship of the Parties. It is expressly agreed that Sanofi, on the one hand, and Licensee, on the other hand, shall
be independent contractors and that the relationship between the two Parties shall not constitute a partnership, joint venture or agency. Neither Sanofi, on the one hand, nor Licensee, on the other hand, 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, without the prior written consent of the other Party to do so. All persons employed by a Party shall be employees of such Party and
not of the other Party and all costs and obligations incurred by reason of any such employment shall be for the account and expense of such Party. 

13.18 References. Unless otherwise specified, (a) references in this Agreement to any
Article, Section or Schedule means references to such Article, Section or Schedule of this Agreement, (b) references in any section to any clause are references to such clause of such section and (c) references to any agreement, instrument
or other document in this Agreement refer to such agreement, instrument or other document as originally executed or, if subsequently varied, replaced or supplemented from time to time, as so varied, replaced or supplemented and in effect at the
relevant time of reference thereto. 

  
 45 

 13.19 Construction. Except where the context otherwise requires, wherever
used, the singular shall include the plural, the plural the singular, the use of any gender shall be applicable to all genders and the word “or” is used in the inclusive sense (and/or). The captions of this Agreement are for convenience of
reference only and in no way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement. The term “including” as used herein means including, without limiting the
generality of any description preceding such term. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction shall be applied against either Party. Whenever this Agreement
refers to a number of days without using a term otherwise defined herein, such number refers to calendar days. The word “will” will be construed to have the same meaning and effect as the word “shall.” References to any specific
law, rule or regulation, or article, Section or other division thereof, will be deemed to include the then-current amendments thereto or any replacement or successor law, rule or regulation thereof. Any reference herein to any person or entity will
be construed to include the person’s or entity’s successors and assigns. Each Party represents that it has been represented by legal counsel in connection with this Agreement and acknowledges that it has participated in the drafting
hereof. In interpreting and applying the terms and provisions of this Agreement, the Parties agree that no presumption will apply against the Party which drafted such terms and provisions. 

13.20 Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original, and all of which together shall constitute one and the same instrument. This Agreement may be executed and delivered in portable document format (PDF) using electronic signatures and such signatures shall be deemed to
bind each Party as if they were ink signatures. 
 [SIGNATURE PAGE FOLLOWS.] 

  
 46 

 THIS AGREEMENT IS EXECUTED by the authorized representatives of the Parties as of the date first written
above. 
  

									
	SANOFI	 		 	Global Blood Therapeutics, Inc.
					
	 By:
	 	/s/ Alban de La Sablière	 		 	 By:
	 	/s/ Ted W. Love, M.D.
	Name: Alban de La Sablière 
Title: Global Head of Business Development and Licensing	 		 	Name: Ted W. Love, M.D. 
Title: President & CEO

 Schedule 1.59 

Licensed Compounds 
 Target 1 –
Licensed Compounds 
  

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

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

 Target 2 – Licensed Compounds 

 

											
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
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 Schedule 1.60 

Licensed Know-How 

(22 pages attached hereto) 
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 Schedule 1.61 

Licensed Patents 
 Target 1 Licensed
Patents 
  

											
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 Target 2 Licensed Patents 
  

											
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 Schedule 1.99 

Target 1 
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 Schedule 1.101 

Target 2 
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 Schedule 2.6 

Transferred Materials 
 Target 1 –
Transferred Materials 
  

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

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

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

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

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

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

 Target 2 – Transferred Materials 

 

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

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

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

									
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 
	 [***]
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 Schedule 3.1.2 

Development Plans 

(Target 1 Deveopment Plan – [***] attached hereto) 

[***] 
 (Target2 Deveopment Plan
– [***] attached hereto) 
 [***] 

 Schedule 9.4 

Initial Press Release(s) 
  

 
 GBT Expands Sickle Cell Disease Pipeline with Exclusive
In-license of Two Novel Small Molecule Programs from Sanofi S.A. 
 SOUTH SAN FRANCISCO, Calif. –
March 16, 2021 - Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced it has entered into an agreement with Sanofi S.A. to exclusively in-license worldwide rights
to two early stage research programs in sickle cell disease (SCD): one that pursues a novel anti-sickling mechanism and another that leverages a new approach to reduce inflammation and oxidative stress. These mechanisms are distinct and potentially
complementary to that of Oxbryta® (voxelotor) tablets, a novel hemoglobin S polymerization inhibitor approved in the United States for the treatment of SCD in patients ages 12 years and older.
The programs, from Sanofi’s Bioverativ subsidiary, supplement GBT’s existing pipeline and support the company’s strategy to address SCD from multiple approaches. 

“We envision a future in which sickle cell disease is a well-managed condition with the potential for a functional cure in the form of patient-friendly
oral therapies. As we work towards this vision and our goal to transform the treatment and care of people living with this devastating disease, we are advancing our robust internal research programs with disease-modifying potential while continually
exploring partnership opportunities across a variety of mechanisms,” said Jung E. Choi, chief business and strategy officer of GBT. “These novel discovery programs represent promising approaches that we believe may have potential to lead
to meaningful improvements for patients.” 
 Under the terms of the agreement, GBT will conduct all research, development, regulatory and
commercialization activities worldwide. Sanofi will receive an upfront payment and is entitled to payments up to approximately $353 million upon achievement of development, regulatory and commercial milestones and single-digit tiered royalties
on worldwide net sales. 
 About Sickle Cell Disease  

Sickle cell disease (SCD) affects an estimated 100,000 people in the United States,1 an
estimated 52,000 people in Europe,2 and millions of people throughout the world, particularly among those whose ancestors are from sub-Saharan
Africa.1 It also affects people of Hispanic, South Asian, Southern European and Middle Eastern ancestry.1 SCD is a lifelong inherited
rare blood disorder that impacts hemoglobin, a protein carried by red blood cells that delivers oxygen to tissues and organs throughout the body.3 Due to a genetic mutation, individuals with
SCD form abnormal hemoglobin known as sickle hemoglobin. Through a process called hemoglobin polymerization, red blood cells become sickled – deoxygenated, crescent-shaped, and rigid.3-5 The sickling process causes hemolytic anemia (low hemoglobin due to red blood cell destruction) and blockages in capillaries and small blood vessels, which impede the flow of blood and oxygen
throughout the body. The diminished oxygen delivery to tissues and organs can lead to life-threatening complications, including stroke and irreversible organ
damage.4-7 

 About Global Blood Therapeutics  

Global Blood Therapeutics (GBT) is a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that
provide hope to underserved patient communities. Founded in 2011, GBT is delivering on its goal to transform the treatment and care of sickle cell disease (SCD), a lifelong, devastating inherited blood disorder. The company has introduced Oxbryta® (voxelotor), the first FDA-approved treatment that directly inhibits sickle hemoglobin polymerization, the root cause of red blood cell sickling in
SCD. GBT is also advancing its pipeline program in SCD with inclacumab, a P-selectin inhibitor in development to address pain crises associated with the disease, and GBT021601 (GBT601), the company’s next
generation hemoglobin S polymerization inhibitor. In addition, GBT’s drug discovery teams are working on new targets to develop the next wave of treatments for SCD. To learn more, please visit https://gbt.com and follow the company on
Twitter @GBT_news. 
 Forward-Looking Statements  

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including statements
containing the words “will,” “anticipates,” “plans,” “believes,” “forecast,” “estimates,” “expects,” and “intends,” or similar expressions. These forward-looking
statements are based on GBT’s current expectations and actual results could differ materially. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. GBT intends these forward-looking statements, including statements regarding GBT’s priorities, dedication,
commitment, focus, goals, mission and vision; the Sanofi agreement, including rights, obligations, and potential activities, results and payments thereunder; the research programs under the Sanofi agreement, including their mechanism of action and
potential to complement Oxbrtya, supplement GBT’s pipeline, support GBT’s strategy and lead to improvements for patients; exploring partnership opportunities; safety, efficacy and mechanism of action of Oxbryta and other product
characteristics; significance of reducing hemolysis and raising hemoglobin; commercialization, delivery, availability, use, and commercial and medical potential of Oxbryta; ongoing and planned studies and related protocols, activities and
expectations; altering the treatment, course and care of SCD and mitigating related complications; potential and advancement of GBT’s pipeline, including inclacumab and other product candidates; and working on new targets and discovering,
developing and delivering treatments, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and GBT makes this statement
for purposes of complying with those safe harbor provisions. These forward-looking statements reflect GBT’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently
available to the company and on assumptions the company has made. GBT can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved, and, furthermore, actual results may differ materially from those
described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond GBT’s control, including, without limitation, risks and uncertainties relating to the
COVID-19 pandemic, including the extent and duration of the impact on GBT’s business, including commercialization activities, regulatory efforts, 

 
research and development, corporate development activities and operating results, which will depend on future developments that are highly uncertain and cannot be accurately predicted, such as
the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the U.S. and in other countries, and the effectiveness of actions taken globally to contain and treat the
disease; the risks that GBT is continuing to establish its commercialization capabilities and may not be able to successfully commercialize Oxbryta; risks associated with GBT’s dependence on third parties for development, manufacture,
distribution and commercialization activities related to Oxbryta; government and third-party payor actions, including those relating to reimbursement and pricing; risks and uncertainties relating to competitive products and other changes that may
limit demand for Oxbryta; the risks regulatory authorities may require additional studies or data to support continued commercialization of Oxbryta; the risks that drug-related adverse events may be observed during commercialization or clinical
development; data and results may not meet regulatory requirements or otherwise be sufficient for further development, regulatory review or approval; compliance with obligations under the Pharmakon loan; and the timing and progress of activities
under GBT’s research collaborations; along with those risks set forth in GBT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the U.S. Securities and
Exchange Commission, as well as discussions of potential risks, uncertainties and other important factors in GBT’s subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, GBT assumes no obligation to
update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 
 References 

 

	1.	 Centers for Disease Control and Prevention website. Sickle Cell Disease (SCD).
https://www.cdc.gov/ncbddd/sicklecell/data.html. Accessed June 3, 2019. 

  

	2.	 European Medicines Agency. https://www.ema.europa.eu/en/medicines/human/orphan-designations/eu3182125. Accessed
June 12, 2020. 

  

	3.	 National Heart, Lung, and Blood Institute website. Sickle Cell Disease.
https://www.nhlbi.nih.gov/health-topics/sickle-cell-disease. Accessed August 5, 2019. 

  

	4.	 Rees DC, et al. Lancet. 2010;376(9757):2018-2031. 

 

	5.	 Kato GJ, et al. Nat Rev Dis Primers. 2018;4:18010. 

 

	6.	 Kato GJ, et al. J Clin Invest. 2017;127(3):750-760.

  

	7.	 Caboot JB, et al. Paediatr Respir Rev.
2014;15(1):17-23. 

 ### 

Contact:  
 Steven Immergut (media) 

650.410.3258 
 simmergut@gbt.com 

Courtney Roberts (investors) 
 650.351.7881 

croberts@gbt.comEX-10.1

 Exhibit 10.1 

 
  

AGREEMENT AND PLAN OF MERGER 
  

 
 by and among

 ATHENEX, INC., 

ATHENEX PHARMACEUTICALS LLC, 

KUUR THERAPEUTICS INC., 

THE MERGER STOCKHOLDERS, 

THE KEY EMPLOYEES and THE INDEPENDENT COMPANY DIRECTORS, 

each in their individual capacity, 

and 
 SHAREHOLDER
REPRESENTATIVE SERVICES LLC, as the Representative 
 DATED MAY 4, 2021 

 
 

 

  
 1 

									
	1.	 	DEFINITIONS AND CONSTRUCTION	  	 	2	 
				
		 	1.1	  	Definitions	  	 	2	 
		 	1.2	  	Additional Defined Terms	  	 	12	 
		 	1.3	  	Construction	  	 	13	 
			
	2.	 	THE MERGER	  	 	13	 
				
		 	2.1	  	The Merger	  	 	13	 
		 	2.2	  	Closing	  	 	14	 
		 	2.3	  	Effective Time	  	 	14	 
		 	2.4	  	Withholding	  	 	14	 
		 	2.5	  	Effects of the Merger	  	 	14	 
		 	2.6	  	Charter Documents	  	 	14	 
		 	2.7	  	Directors, Officers	  	 	15	 
		 	2.8	  	Closing Spreadsheet	  	 	16	 
		 	2.9	  	Closing Deliverables	  	 	16	 
			
	3.	 	EFFECT OF THE MERGER; EXCHANGE PROCEDURES	  	 	17	 
				
		 	3.1	  	Effect of the Merger on Capital Stock	  	 	17	 
		 	3.2	  	No Further Ownership Rights in Company Capital Stock	  	 	18	 
		 	3.3	  	Post-Closing Adjustment to Total Consideration	  	 	18	 
		 	3.4	  	Deferred Consideration	  	 	20	 
		 	3.5	  	Parent Consideration Stock; Registration Rights	  	 	22	 
		 	3.6	  	Representative	  	 	24	 
		 	3.7	  	Appraisal Rights.	  	 	26	 
		 	3.8	  	Tax Consequences	  	 	27	 
			
	4.	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	 	27	 
				
		 	4.1	  	Authority and Enforceability	  	 	28	 
		 	4.2	  	Due Incorporation; Subsidiaries	  	 	28	 
		 	4.3	  	Certificate of Incorporation and Bylaws	  	 	29	 
		 	4.4	  	Capitalization	  	 	29	 
		 	4.5	  	Non-Contravention; Consents	  	 	30	 
		 	4.6	  	Financial Statements	  	 	30	 
		 	4.7	  	Books and Records	  	 	31	 
		 	4.8	  	[Reserved]	  	 	31	 
		 	4.9	  	Bank Accounts	  	 	31	 
		 	4.10	  	Absence of Certain Changes.	  	 	31	 
		 	4.11	  	Title to Assets	  	 	31	 
		 	4.12	  	Real Property; Leasehold.	  	 	31	 
		 	4.13	  	Intellectual Property	  	 	32	 
		 	4.14	  	Data Protection	  	 	34	 
		 	4.15	  	Regulatory Matters	  	 	34	 
		 	4.16	  	Material Contracts	  	 	35	 

  
 1 

									
		 	4.17	  	Liabilities	  	 	37	 
		 	4.18	  	Compliance with Laws	  	 	37	 
		 	4.19	  	Anti-Corruption Compliance	  	 	38	 
		 	4.20	  	Tax Matters	  	 	38	 
		 	4.21	  	Employee Benefit Plans and Employee Matters	  	 	42	 
		 	4.22	  	Environmental Matters	  	 	44	 
		 	4.23	  	Insurance	  	 	45	 
		 	4.24	  	Legal Proceedings; Orders	  	 	45	 
		 	4.25	  	Financial Advisor	  	 	45	 
		 	4.26	  	Related Party Transactions	  	 	46	 
			
	5.	 	REPRESENTATIONS AND WARRANTIES OF THE SHARE RECIPIENTS	  	 	46	 
				
		 	5.1	  	Authority and Enforceability	  	 	46	 
		 	5.2	  	No Conflict	  	 	46	 
			
	6.	 	REPRESENTATIONS AND WARRANTIES OF PARENT	  	 	47	 
				
		 	6.1	  	Due Incorporation; Subsidiaries	  	 	47	 
		 	6.2	  	Authority; Binding Nature of Agreement	  	 	47	 
		 	6.3	  	No Parent Vote Required	  	 	47	 
		 	6.4	  	Non-Contravention; Consents	  	 	47	 
		 	6.5	  	Litigation	  	 	47	 
		 	6.6	  	Merger Sub	  	 	48	 
		 	6.7	  	Parent Consideration Stock	  	 	48	 
		 	6.8	  	Finders’ Fees	  	 	48	 
		 	6.9	  	Parent Filings	  	 	48	 
			
	7.	 	INDEMNIFICATION	  	 	48	 
				
		 	7.1	  	R&W Insurance Policy	  	 	48	 
		 	7.2	  	Pro Rata Indemnification by the Share Recipients	  	 	49	 
		 	7.3	  	Individual Indemnification by the Share Recipients	  	 	49	 
		 	7.4	  	Indemnification by the Parent Parties	  	 	50	 
		 	7.5	  	Claim Procedure	  	 	50	 
		 	7.6	  	Survival	  	 	51	 
		 	7.7	  	Limitations on Liability	  	 	52	 
		 	7.8	  	Satisfaction of Claims	  	 	52	 
		 	7.9	  	Determination of Loss Amount	  	 	53	 
		 	7.10	  	No Right of Indemnification or Contribution	  	 	53	 
		 	7.11	  	Exercise of Remedies by Parent Indemnified Parties other than Parent	  	 	53	 
		 	7.12	  	Adjustment to Total Consideration	  	 	53	 
		 	7.13	  	Exclusive Monetary Remedy	  	 	54	 
		 	7.14	  	Director and Officer Indemnification	  	 	54	 
			
	8.	 	TAX MATTERS	  	 	54	 
				
		 	8.1	  	Tax Returns	  	 	54	 

  
 2 

									
		 	8.2	  	Tax Claims	  	 	55	 
		 	8.3	  	Straddle Periods	  	 	55	 
		 	8.4	  	Tax Sharing Agreements	  	 	55	 
		 	8.5	  	Transfer Taxes	  	 	55	 
		 	8.6	  	Post-Closing Covenants	  	 	56	 
			
	9.	 	GENERAL PROVISIONS	  	 	57	 
				
		 	9.1	  	Notices	  	 	57	 
		 	9.2	  	Public Disclosure	  	 	57	 
		 	9.3	  	Commercially Reasonable Efforts	  	 	58	 
		 	9.4	  	Amendment	  	 	58	 
		 	9.5	  	Waiver and Remedies	  	 	58	 
		 	9.6	  	Entire Agreement	  	 	58	 
		 	9.7	  	Assignment	  	 	59	 
		 	9.8	  	Severability	  	 	59	 
		 	9.9	  	Schedules	  	 	59	 
		 	9.10	  	Interpretation	  	 	59	 
		 	9.11	  	Governing Law	  	 	59	 
		 	9.12	  	Exclusive Jurisdictions; Waiver of Jury Trial	  	 	59	 
		 	9.13	  	Attorney-Client Privilege	  	 	60	 
		 	9.14	  	Expenses	  	 	60	 
		 	9.15	  	No Third-Party Beneficiaries	  	 	61	 
		 	9.16	  	No Joint Venture	  	 	61	 
		 	9.17	  	Counterparts	  	 	61	 

  
 3 

 INDEX OF SCHEDULES 

 

			
	 Schedule
	  	 Description

		
	Schedule 1	  	Closing Spreadsheet
	Schedule 2	  	Pre-Closing Statement
	Schedule 3	  	Deferred Consideration Payments

  
 4 

 AGREEMENT AND PLAN OF MERGER 

THIS AGREEMENT AND PLAN OF MERGER (as may be amended from time to time, this “Agreement”) is made and entered into as of May 4,
2021 
 BY AND AMONG: 
  

	(1)	 ATHENEX, INC, a Delaware corporation (“Parent”); 

 

	(2)	 ATHENEX PHARMACEUTICALS LLC, a Delaware limited liability company and a wholly owned Subsidiary of
Parent (“Merger Sub”); 

  

	(3)	 KUUR THERAPEUTICS INC., a Delaware corporation (the “Company”);

  

	(4)	 the undersigned holders of the shares of Series C Preferred Stock or Series
C-1 Preferred Stock outstanding as of the Effective Time (the “Merger Stockholders”); 

  

	(5)	 KEVIN S. BOYLE, SR., KURT C. GUNTER and MELINDA K. LACKEY, as Chief Executive Officer,
Chief Medical Officer and Legal Counsel of the Company, respectively (collectively, the “Key Employees”); 

  

	(6)	 the undersigned members of the Company Board (as defined below), each in their individual capacity as
recipients of Parent Consideration Stock (as defined below) in connection with this Agreement (the “Independent Company Directors”); and 

  

	(7)	 Shareholder Representative Services LLC, a Colorado limited liability company, solely in its capacity as the
representative, agent and attorney-in-fact of the Merger Stockholders, Key Employees and Independent Company Directors (collectively, the “Share
Recipients”) who shall be entitled to receive Parent Consideration Stock in connection with this Agreement (the “Representative” and, together with Parent, Merger Sub, the Company and the Share Recipients, the
“Parties”). 

 All capitalized terms used herein shall have the respective meanings ascribed to them in Section 1.1
of the Agreement or where defined in other sections of the Agreement. 
 RECITALS: 

 

	(A)	 Parent, Merger Sub and the Company intend to effect a merger of Merger Sub with and into the Company (the
“Merger”) in accordance with this Agreement and the General Corporation Law of the State of Delaware (the “DGCL”). Upon consummation of the Merger, Merger Sub will cease to exist as a separate corporate entity, and
the Company will continue as the surviving corporation in the Merger; 

  

	(B)	 the respective boards of directors of Parent and Merger Sub have approved this Agreement and the consummation
of the Transactions; 

  

	(C)	 the board of directors of the Company (the “Company Board”) has unanimously approved this
Agreement, the Merger and the other transactions contemplated by this Agreement (collectively, the “Transactions”); 

  
 1 

	(D)	 prior to or concurrently with the execution and delivery of this Agreement, the Company has delivered to Parent
and Merger Sub a written consent signed by the stockholders of the Company, evidencing approval of this Agreement and the Transactions, including the Merger (the “Company Stockholder Approval”); 

 

	(E)	 prior to or concurrently with the execution and delivery of this Agreement, the Company has delivered to Parent
and Merger Sub evidence of the conversion of Company shares under the Convertible Loan Agreement dated August 2, 2019, as amended by the Deed of Variation dated February 28, 2020, as assigned by IP2IPO Portfolio L.P. to the Company on
June 22, 2020, pursuant to which the Company and IP2IPO Portfolio L.P. entered into that certain Payment and Equity Issue Agreement, dated as of June 22, 2020, as amended on May 3, 2021 (the “Company Convertible
Loan”); 

  

	(F)	 [Reserved] 

  

	(G)	 the Company shall obtain and deliver to Parent a Parachute Payment Waiver from each Person who is, with respect
to the Company and/or any ERISA Affiliate, a “disqualified individual” (within the meaning of Section 280G of the Code and the Department of Treasury regulations promulgated thereunder) and who might otherwise have, receive or have
the right to entitlement to receive a parachute payment under Section 280G of the Code in connection with the transactions contemplated by this Agreement. 

 

	(H)	 [Reserved] 

  

	(I)	 each Share Recipient that will receive Parent Consideration Stock (as defined below) in connection with the
transactions contemplated hereby has entered into a lock-up agreement as a condition to receiving such Parent Consideration Stock (each, a “Lock-Up
Agreement”); 

  

	(J)	 Parent, Merger Sub, the Company and the Share Recipients desire to make certain representations, warranties,
covenants and agreements, as more fully set forth herein, in connection with the Merger and the other Transactions; and 

  

	(K)	 in consideration of the mutual agreements, covenants and other premises set forth herein, the mutual benefits
to be gained by the performance thereof, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. 

THE PARTIES AGREE THAT: 
  

	1.	 DEFINITIONS AND CONSTRUCTION 

 

	1.1	 Definitions 

for the purposes of this Agreement: 

“Affiliate” means, with respect to a specified Person, a Person that directly, or indirectly through one or more
intermediaries, controls, is controlled by or is under common control with, the specified Person. In addition to the foregoing, if the specified Person is an individual, the term “Affiliate” also includes (a) the individual’s
spouse, (b) the members of the immediate family (including parents, siblings and children) of the individual or of the individual’s spouse and (c) any corporation, limited liability company, general or limited partnership, trust,
association or other business or investment entity that directly or indirectly, through one or more intermediaries controls, is controlled by or is under common control with any of the foregoing individuals. For

  
 2 

 
purposes of this definition, the term “control” (including the terms “controlling,” “controlled by” and “under common control with”) means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

“Business Day” means any day other than Saturday, Sunday or any day on which banking institutions in Delaware are closed
either under applicable Law or action of any Governmental Authority. 
 “Bylaws of the Company” means the amended and
restated bylaws of the Company dated May 11, 2020. 
 “CARES Act” means the Coronavirus Aid, Relief, and Economic
Security Act (Pub. L. 116-136), and, for the avoidance of doubt, any amendment thereto (including pursuant to the Consolidated Appropriations Act, 2021 (Public Law
116-260)), together with all rules and regulations and guidance issued by any Governmental Authority with respect thereto. 

“Cash” means cash and Cash Equivalents determined in accordance with GAAP, using, to the extent consistent therewith, the
policies, conventions, methodologies and procedures used by the Company in preparing its most recent audited Company financial statements. For the avoidance of doubt, (i) Cash shall be increased by the amount of deposits or other payments
received by the Company but not yet credited to the bank accounts of the Company, and (ii) Cash shall be reduced by the amount of any outstanding checks or other payments issued by the Company but not yet deducted from the bank accounts of the
Company. 
 “Cash Equivalents” means investment securities with original maturities of ninety (90) days or less. 

“CD19 CAR-NKT” means a biological product for therapeutic use in humans, composed of
predominately NKT cells, which have been genetically engineered with elements that include but are not limited to a chimeric antigen receptor (CAR) targeting the CD19 molecule. 

“Change of Control Payments” means any severance, change of control, management incentive or other similar bonus amounts or
payments due to employees, service providers or other third parties which are payable by or on behalf of the Company at or prior to Closing and as a result of the consummation of the Merger (including any “double trigger” arrangements that
are payable to Company employees who are identified as non-continuing employees prior to the Closing and who are terminated in connection with the Closing, whether payable pursuant to this Agreement, under any
contract or employee benefits plan to which the Company is a party, or under any other plan, policy, agreement or arrangement. 

“Closing Cash” means the aggregate amount of all unrestricted Cash of the Company as of April 30, 2021. 

“Closing Consideration” means Parent Consideration Stock having an aggregate value equal to $70,000,000 issued pursuant to
Section 3.1(d), minus $[***] paid to the Key Employees and Independent Company Directors in accordance with their respective incentive agreements with the Company (the “Transaction Bonuses”); provided, however, that
fifty percent (50%) of the value of the Closing Consideration that each Key Employee is entitled to receive shall be paid in cash rather than Parent Consideration Stock. 

  
 3 

 “Closing Debt” means the aggregate amount of all Indebtedness of the
Company as of 12:01 a.m. Eastern Standard Time on the Closing Date. 
 “Closing Working Capital” means an amount equal to
(i) the current assets of the Group (excluding Cash and Cash Equivalents and deferred Tax assets) less (ii) the current Liabilities of the Group (excluding any Indebtedness, deferred Tax liabilities, Change of Control Payments and
Transaction Expenses), in each case as calculated in accordance with GAAP as of April 30, 2021. 
 “Code” means the
Internal Revenue Code of 1986, as amended. 
 “Company Capital Stock” means the Company Common Stock and the Company
Preferred Stock. 
 “Company Charter” means the Amended and Restated Certificate of Incorporation of the Company, as filed
with the Secretary of State of the State of Delaware on May 11, 2020, as amended and restated on June 22, 2020, and as further amended on April 27, 2021. 

“Company Common Stock” means the Company’s 65,000,000 authorized shares of common stock, $0.001 par value per share. 

“Company Plan” means any “employee benefit plan” (as defined in Section 3(3) of ERISA), including any plan,
Multiemployer Plan and any other material plan, program, Contract or arrangement (written or oral, whether or not subject to ERISA) involving direct or indirect compensation or benefits, including insurance coverage, severance or other termination
pay or benefits, change in control, tax gross-up, tax indemnity, retention, performance, holiday pay, vacation pay, fringe benefits, disability benefits, pension, retirement plans, profit sharing, deferred
compensation, bonuses, stock options, stock purchase, restricted stock or stock units, phantom stock, stock appreciation or other forms of incentive compensation or post-retirement compensation, sponsored, maintained or contributed to by the Company
or ERISA Affiliate for the benefit of any current or former director, officer, employee or consultant of the Company, or with respect to which the Company has or may have any Liability. 

“Company Preferred Stock” means the Company’s 52,205,289 authorized shares of preferred stock, $0.001 par value per
share, including (i) 3,686,967 authorized shares of Series A Preferred Stock, (ii) 6,993,007 authorized shares of Series B Preferred Stock, (iii) 21,293,707 authorized shares of Series C Preferred Stock and (iv) 20,231,608 authorized shares of
Series C-1 Preferred Stock. 
 “Company Products” means each of CD19 CAR-NKT Cells, GD2 CAR-NKT Cells, GPC3 CAR-NKT Cells, and NYESO-1 TCR-NKT Cells, collectively. 
 “Confidentiality Agreement” means that certain
Confidentiality Agreement, dated as of October 27, 2020, by and between the Company and Parent. 
 “CTA 2009” means the
UK Corporation Tax Act 2009. 
 “Data Room” shall mean that certain Datasite Diligence folder labeled “Kuur” into
which the Company has deposited documents and other information from time to time. 

  
 4 

 “Deductible Expenses” means all fees, costs, expenses or other amounts
payable by any Group Company in connection with the negotiation and/or consummation of the Transactions that are deductible for applicable Tax purposes, including the payment of (a) Transaction Expenses, (b) interest, fees, penalties,
original issue discount and similar amounts (other than principal) paid with respect to the retirement of any Indebtedness in connection with, or prior to, Closing, and (c) all Change of Control Payments, Transaction Bonuses or other
compensatory payments made in connection with the Transactions, plus the employer portion of any employment Tax that is required in connection with such payments. 

“Deferred Consideration” means shares of Parent Consideration Stock and/or Cash to be issued, at the election of Parent,
subject to adjustment in accordance with Section 3.4 and Schedule 3 (Deferred Consideration Payments). 
 “Dissenting
Shares” means any shares of Company Capital Stock that are issued and outstanding immediately prior to the Effective Time and are held by a holder who has made a demand for appraisal of such shares in accordance with DGCL in connection with
the Merger. 
 “Employee” means each employee engaged by a Group Company at Closing. 

“Encumbrance” means any charge, claim, mortgage, servitude, easement, right of way, community or other marital property
interest, covenant, equitable interest, license, lease or other possessory interest, lien, option, pledge, hypothecation, security interest, preference, priority, right of first refusal, condition, limitation or restriction of any kind or nature
whatsoever (whether absolute or contingent). For clarity, Encumbrances do not include non-exclusive licenses of Intellectual Property granted in the ordinary course of the Company’s business consistent
with past practices. 
 “ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any other Person that, together with the Company, would be treated as a single employer under
Section 414 of the Code or Section 4001 of ERISA. 
 “Exchange Act” means the U.S. Securities and Exchange Act of
1934, as amended. 
 “Families First Act” shall mean the Families First Coronavirus Response Act (Public Law No. 116-127 (116th Cong.) (Mar. 18, 2020)), and any amendment thereof, or administrative or other guidance or legislation published with respect thereto, by any Governmental Authority. 

“Fraud” means an act in the making of a representation or warranty expressly set forth in this Agreement, committed by a
Person making such express representation or warranty, and requires (a) a false representation or warranty or inaccuracy of fact expressly set forth in the representations and warranties set forth in this Agreement; (b) actual knowledge
that such representation or warranty is false or inaccurate; (c) an intention to induce the Person to whom such representation or warranty was made to act or refrain from acting in reliance upon it; (d) causing that Person, in reasonable
reliance upon such false representation or warranty, to take or refrain from taking action; and (e) causing such Person to suffer damage by reason of such reliance. 

  
 5 

 “Fundamental Warranties” means the representations and warranties set forth
in Section 4.1 (Authority and Enforceability), Section 4.2 (Due Incorporation; Subsidiaries), Section 4.4 (Capitalization), Section 4.5 (Non-Contraventions;
Consents), Section 4.25 (Financial Advisor), Article 5 (Representations and Warranties of Share Recipients), Section 6.1 (Due Incorporation; Subsidiaries), Section 6.2 (Authority; Binding Nature of
Agreement), and Section 6.4 (Non-Contraventions; Consents). 

“GAAP” means generally accepted accounting principles for financial reporting in the United States, as in effect as of the
date of this Agreement. 
 “GD2 CAR-NKT” means a biological product for therapeutic
use in humans, composed of predominately NKT cells, which have been genetically engineered with elements that include but are not limited to a chimeric antigen receptor (CAR) targeting the GD2 molecule. 

“Governmental Authority” means any (a) nation, region, state, county, city, town, village, district or other jurisdiction
(b) national, federal, state, local, municipal, foreign or other government, foreign or domestic, (c) department, agency or instrumentality of a government, foreign or domestic, including any state-owned or state controlled instrumentality
of a government, foreign or domestic, (d) governmental or quasi-governmental authority of any nature (including any governmental agency, branch, department or other entity and any court or other tribunal), (e) Public International Organization
or multinational organization or (f) other body exercising, or entitled to exercise, any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power of any nature. 

“Governmental Authorization” means any consent, license, franchise, permit, exemption, clearance or registration issued,
granted, given or otherwise made available by or under the authority of any Governmental Authority or pursuant to any Law. 
 “GPC3 CAR-NKT” means a biological product for therapeutic use in humans, composed of predominately NKT cells, which have been genetically engineered with elements that include but are not limited to a chimeric
antigen receptor (CAR) targeting the GPC3 molecule. 
 “Group” means the Company and/or its Subsidiaries or, following the
Effective Time, the Surviving Corporation and/or its Subsidiaries, each a “Group Company”. 
 “HSR Act”
means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder. 

“Indebtedness” means, with respect to the Company, as of immediately prior to the Effective Time (and before taking into
account the consummation of the Transactions), without duplication (a) the unpaid principal amount of, and accrued interest on or penalties with respect to, all indebtedness of such Person, whether or not contingent, for borrowed money,
(b) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments or debt securities and warrants or other rights to acquire any such instruments or securities, (c) all unreimbursed obligations in
respect of letters of credit and bankers’ acceptances issued for the account of such Person that have been drawn, (d) all guaranties of such Person in connection with clauses (a), (b) or (c) above, (e) all capital lease obligations of
such Person (as determined in accordance with the Company’s historical accounting principles) and (f) all prepayment or repayment premiums, penalties, interest rate breakage fees or similar payments or fees required to be paid in
connection with the prepayment or repayment of any obligation otherwise deemed to be “Indebtedness” as contemplated by this Agreement, in each case excluding all intercompany indebtedness among the Company and/or any of its Subsidiaries.
Notwithstanding the foregoing, the Company Convertible Loan shall not be deemed Indebtedness of the Company. 

  
 6 

 “Intellectual Property” means all of the following anywhere in the world
and all legal rights, title or interest in the following arising under Law, whether or not filed, perfected, registered or recorded and whether now or later existing, filed, issued or acquired, including all renewals: 

 

	 	(a)	 all patents and applications for patents and all related reissues, reexaminations, divisions, renewals,
extensions, provisionals, continuations and continuations in part; 

  

	 	(b)	 all copyrights, copyright registrations and copyright applications, copyrightable works, and all other
corresponding rights; 

  

	 	(c)	 all trade dress and trade names, logos, Internet addresses and domain names, trademarks and service marks and
related registrations and applications and all goodwill associated with any of the foregoing; 

  

	 	(d)	 all inventions (whether patentable or not and whether or not reduced to practice), invention disclosures, trade
secrets, know-how, and confidential and proprietary information; 

  

	 	(e)	 all Software; 

  

	 	(f)	 all databases and data collections and all rights in the same; 

 

	 	(g)	 all rights of paternity, integrity, disclosure, and withdrawal, and any other rights that may be known or
referred to as “moral rights,” in or to any of the foregoing; 

  

	 	(h)	 any rights analogous to those set forth in the preceding clauses and any other proprietary rights relating to
intangible property; 

  

	 	(i)	 all versions, releases, upgrades, derivatives, enhancements and improvements of any of the foregoing; and

  

	 	(j)	 all statutory, contractual and other claims, demands, and causes of action for royalties, fees, or other income
from, or infringement, misappropriation or violation of, any of the foregoing, and all of the proceeds from the foregoing that are accrued and unpaid as of, and/or accruing after, the date of this Agreement. 

“IRS” means the U.S. Internal Revenue Service. 

“Judgment” means any order, injunction, judgment, decree, ruling, assessment or arbitration award of any Governmental
Authority or arbitrator. 
 “Knowledge” means, with respect to the Company and as relates to the representations of the
Company in Article 4 hereof, the actual knowledge of any of the Key Employees; provided that, the knowledge of any such individual will be deemed to include (a) the actual knowledge of such individual and (b) any fact, circumstance, event
or other matter if (i) such fact, circumstance, event or other matter is reflected in one or more documents, written or electronic, that have been reviewed by such individual or (ii) knowledge of such fact, circumstance, event or other
matter would be obtained from a reasonable and customary investigation by a person with such individual’s duties and responsibilities. 

  
 7 

 “Law” means any national, federal, state, local, municipal, foreign,
international, multinational, or other constitution, law, statute, treaty, rule, regulation, ordinance, code, binding case law or principle of common law. 

“Liability” includes liabilities, Indebtedness or other obligations of any nature, absolute, accrued, contingent, liquidated,
unliquidated or otherwise, due or to become due or otherwise, and whether or not required to be reflected on a balance sheet prepared in accordance with GAAP. 

“Loss” means any loss, Proceeding, Judgment, direct damage, fine, penalty, expense (including reasonable attorneys’ or
other professional fees and documented expenses and court costs), injury, Liability, Tax, Encumbrance or other cost, expense or adverse effect whatsoever, whether or not involving the claim of another Person, but excluding any (i) consequential
damages, or (ii) exemplary, special or punitive damages (unless actually awarded to a third party or in connection with Fraud or Willful and Material Breach). 

“Material Adverse Effect” means any significant or notable fact, circumstance, development, occurrence, condition, event or
change that has, or could reasonably be expected to have, either individually or in the aggregate with all other facts, circumstances, developments, occurrences, conditions, events or changes, with or without notice, lapse of time or both, a
material adverse effect on (a) the business, assets, Liabilities, properties, prospects, financial condition or results of operations of the Group, taken as a whole, or (b) the ability of the Group to perform its obligations under this
Agreement or any agreement entered into in connection herewith or to consummate on a timely basis each of the Transactions, but excluding with respect to clauses (a) and (b) any such fact, circumstance, development, occurrence, condition, event
or change to the extent resulting or arising from (i) any change in Law or interpretation thereof, (ii) any change in general economic or financial market conditions in the countries or markets in which the Group operate, (iii) any
change that generally affects the industries in which the Group participate, (iv) any change resulting from acts of war (whether or not declared), sabotage or terrorism, military actions or the escalation thereof, occurring after the date
hereof, (v) any act taken or omitted to be taken at the express written direction of Parent under this Agreement, (vi) the announcement of this Agreement and the Transactions, or (vii) any act of God (including weather, pandemics, and
natural disasters), except, in each of clauses (i) through (iv) above, to the extent that any such fact, circumstance, development, occurrence, condition, event or change has or could reasonably be expected to have a materially disproportionate
adverse effect on the Group, taken as a whole, as compared to other Persons operating in the same industry in which the Group operate. 

“NYESO-1 TCR-NKT” means a biological product
for therapeutic use in humans, composed of predominately NKT cells, which have been genetically engineered with elements that include but are not limited to a T cell receptor (TCR) targeting the NYESO-1
molecule. 
 “Pandemic Response Laws” means the CARES Act, the Families First Act, the COVID-related Tax Relief Act of 2020,
the Payroll Tax Executive Order, and any other similar or additional federal, state, local, or foreign Law, or administrative guidance intended to benefit taxpayers in response to the COVID-19 pandemic and
associated economic downturn. 

  
 8 

 “Parachute Payment Waiver” means, with respect to any Person, a written
agreement waiving such Person’s right to receive any “parachute payments” (within the meaning of Section 280G of the Code and the Department of Treasury regulations promulgated thereunder) solely to the extent required to avoid
the imposition of a tax under Section 280G of the Code and to accept in substitution therefor the right to receive such payments only if approved by the shareholders of the Company in a manner that complies with Section 280G(b)(5)(B) of
the Code. 
 “Parent Consideration Stock” means ordinary shares with a nominal value of $0.001 of Parent deemed to be valued
at the volume-weighted average closing price per share of Parent common stock during the twenty (20)-trading day period (i) ending on April 30, 2021, for purposes of the Closing Consideration and (ii) preceding the date of the
applicable Milestone Event (as defined in Schedule 3) for purposes of the Deferred Consideration. 
 “Parent Parties” means,
collectively, Parent and Merger Sub. 
 “Payroll Tax Executive Order” means the Presidential Memorandum on Deferring Payroll
Tax Obligations in Light of the Ongoing COVID-19 Disaster, as issued on August 8, 2020 and including any administrative or other guidance published with respect thereto by any Governmental Authority
(including IRS Notice 2020-65). 
 “Permitted Encumbrances” means (a) statutory
liens of carriers, warehousemen, mechanics, materialmen and other similar Persons incurred in the ordinary course of business for sums not yet due and payable and that do not impair the conduct of the Company’s business or the use of the
affected property or asset and (b) statutory liens for Taxes (1) not yet due and payable for which adequate reserves have been established in accordance with GAAP or (2) being contested in good faith for which adequate reserves have
been established in accordance with GAAP. 
 “Person” means an individual or an entity, including a corporation, limited
liability company, partnership, trust, unincorporated organization, association or other business or investment entity, or any Governmental Authority. 

“Privacy Laws” means any relevant Laws concerning the privacy, processing, security or protection of personal data and/or
personally identifiable information. 
 “Privacy Policies” means each external or internal, past or present, privacy policy,
privacy notice or similar, of any Group Company. 
 “Pre-Closing Tax Period” means
(a) any Tax period ending on or before the Closing Date and (b) the portion of any Straddle Period ending on (and including) the Closing Date. 

“Pre-Closing Taxes” means (a) all Taxes of the Group for all Pre-Closing Tax Periods, (b) all Taxes of any member of an affiliated, consolidated, combined or unitary group of which the Group (or any predecessor of the Group) is or was a member on or prior to the Closing
Date, including pursuant to Treasury Regulation Section 1.1502-6 or any analogous or similar state, local, or non-U.S. Law, (c) any and all Taxes of any Person
imposed on the Group as a transferee or successor, or pursuant to any Law, which Taxes relate to an event or transaction occurring before the Closing, and (d) the portion of any Transfer Taxes that are to be borne by the Merger Stockholders
pursuant to Section 8.4 and Transaction Payroll Taxes. Notwithstanding the foregoing, (x) “Pre-Closing Taxes” does not include any Taxes that have

  
 9 

 
been otherwise included as items of Closing Debt, Transaction Expenses or Closing Working Capital, and (y) for purposes of calculating Pre-Closing
Taxes, Deductible Expenses shall be allocated to the Pre-Closing Tax Period to the maximum extent permitted under applicable Law. 

“Pro Rata Share” means, (a) with respect to claims under Section 7.2(a), a percentage representing the proportion of
Deferred Consideration that a Share Recipient is entitled to receive as set out in the Closing Spreadsheet and (b) with respect to claims other than in respect to Section 7.2(a), a percentage representing the proportion of Total
Consideration a Share Recipient is entitled to receive as set out in the Closing Spreadsheet. 
 “Proceeding” means any
action, arbitration, audit, examination, investigation, hearing, litigation or suit (whether civil, criminal, administrative, judicial or investigative, whether formal or informal, and whether public or private) commenced, brought, conducted or
heard by or before, or otherwise involving, any Governmental Authority or arbitrator. 
 “Public International Organization”
means (a) any international organization formed by states, governments or other international organizations or (b) any organization that is designated by executive order pursuant to Section 1 of the United States International
Organizations Immunities Act (22 U.S.C. 288). 
 “R&D Claim” means any claim for relief for expenditure on research and
development under any of the provisions of Part 13 CTA 2009 or an R&D expenditure credit (as defined for the purposes of section 104A CTA 2009) under any of the provisions of Chapter 6A of Part 3 CTA 2009. 

“R&W Insurance Policy” means any “Representations and Warranties” (or similar) insurance policies obtained by
Parent and/or its Affiliates in connection with the transactions contemplated by this Agreement (as they may be amended, modified or otherwise supplemented from time to time). 

“Securities Act” means the Securities Act of 1933, as amended, or any successor federal statute thereto and the rules and
regulations of the SEC promulgated thereunder. 
 “Software” means computer programs and systems, whether embodied in
software, firmware or otherwise, including, software compilations, software implementations of algorithms, software tool sets, compilers, and software models and methodologies (regardless of the stage of development or completion) including all:
(a) media on which any of the foregoing is recorded; (b) forms in which any of the foregoing is embodied (whether in, e.g., source code, object code, executable code or human readable form); and (c) translation, ported versions
and modifications of any of the foregoing. 
 “Straddle Period” means any Tax period beginning before or on the Closing Date
and ending after the Closing Date. 
 “Subsidiary” means, with respect to a specified Person, any corporation or other
Person of which securities or other interests having the power to elect a majority of that corporation’s or other Person’s board of directors or similar governing body, or otherwise having the power to direct the business and policies of
that corporation or other Person (other than securities or other interests having such power only upon the happening of a contingency that has not occurred), are held by the specified Person or one or more of its Subsidiaries. When used in this
Agreement without reference to a particular Person, “Subsidiary” means a Subsidiary of the Company. 

  
 10 

 “Target Working Capital” means the target working capital range of $[***]
to $[***], which is based upon a mutually agreed normalized model of the Company’s historical working capital. 
 “Tax”
means (a) any national, federal, state, local or other tax, charge, fee, duty (including customs duty), levy or assessment in the nature of taxes, including any income, gross receipts, net proceeds, corporation, ad valorem, turnover, real
property, personal property (tangible or intangible), sales, use, franchise, excise, value added, stamp, leasing, lease, transfer, fuel, excess profits, profits, occupational, premium, interest equalization, windfall profits, severance, license,
registration, payroll, environmental, capital stock, capital duty, gains, wealth, employee’s income withholding, other withholding, unemployment or social security or similar that is imposed by any Governmental Authority (including for the
avoidance of doubt both employer and employee National Insurance contribution liabilities in the United Kingdom and corresponding obligations elsewhere) and (b) any interest, fines, penalties or additions resulting from or attributable to any
items described in this paragraph or any related contest or dispute. 
 “Tax Return” means any report, return, filing,
declaration, claim for refund, or information return or statement related to Taxes, including any schedule or attachment thereto, and including any amendment thereof, filed or required to be filed with a Governmental Authority with respect to any
Tax. 
 “Total Consideration” means the aggregate value of (i) the Closing Consideration and (ii) the Deferred
Consideration. 
 “Transaction Expenses” means the aggregate amount of any and all costs, fees and expenses properly and
reasonably incurred by or on behalf of, or paid or to be paid by, the (i) Company or any of its Subsidiaries or (ii) any stockholder or any Person that the Company has agreed to pay or reimburse or is otherwise legally obligated to pay or
reimburse, in each case in connection with the negotiation, preparation, documentation or execution of this Agreement or the performance or consummation of the Transactions contemplated hereby, including (a) all costs, fees and expenses of
counsel, advisors, consultants, investment bankers, accountants, auditors (including any amount paid or to be paid to the Company’s accountants above $[***] related to the auditing of the Company’s financial statements for the year ended
December 31, 2020), and any other experts or similar Persons in connection with the transactions contemplated hereby, whether or not such costs, fees and expenses have been assessed or billed prior to the Closing; (b) all brokers’,
investment banking, finders’ or similar fees in connection with the transactions contemplated hereby, including the fee assessed by SVB Leerink LLC; (c) the amount of any change of control, severance (including the severance fee payable to
Kevin S. Boyle, Sr. as per his employment agreement with the Company dated June 5, 2020, as amended May 3, 2021), retention, or transaction bonus to be paid to any current or former director, manager, officer, employee, agent, consultant,
contractor, advisor or other representative of the Company or any of its Subsidiaries which is contingent upon, or is triggered or accelerated by reason of or as a result of, the execution of this Agreement or the consummation of the transactions
contemplated hereby; (d) fifty percent (50%) of the cost of the Company D&O Tail Policy (as defined in Section 7.14); (e) the Representative’s engagement fee of $[***] as provided in that certain engagement letter between the
Representative and the Share Recipients dated May 4, 2021 and the Representative’s Expense 

  
 11 

 
Fund (as defined in Section 3.6(e)); (f) any irrecoverable VAT payable or borne by the Company or any of its Subsidiaries with respect to any of the foregoing and (g) all Transaction
Payroll Taxes. 
 “Transaction Payroll Taxes” means the employer portion of any payroll or employment Taxes incurred or
accrued with respect to any Change of Control Payments, Transaction Bonuses or other compensatory payments made in connection with the Transactions. 

“VAT” means value added tax as provided for in the UK Value Added Tax Act 1994 or any similar or equivalent Tax that is levied
on the supply of goods or services in any jurisdiction. 
 “Willful and Material Breach” means a deliberate act or a
deliberate failure to act, which act or failure to act constitutes in and of itself a material breach of any material covenant contained in this Agreement, regardless of whether breaching was the conscious object of the act or failure to act. 

 

	1.2	 Additional Defined Terms 

For purposes of this Agreement, the following terms have the meanings specified in the indicated Section of this Agreement: 

 

					
	 Defined Term
	  	Section	 
	 125 Plan
	  	 	2.7	(d) 
	 Accounting Firm
	  	 	3.3	(d) 
	 Agreement
	  	 	Preamble	 
	 Book-Entry Shares
	  	 	2.9	(c) 
	 Certificate of Merger
	  	 	2.3	 
	 Claim
	  	 	2.7	(c) 
	 Claim Notice
	  	 	7.5	(a) 
	 Closing
	  	 	2.2	 
	 Closing Date
	  	 	2.2	 
	 Closing Spreadsheet
	  	 	2.8	 
	 COBRA
	  	 	4.21	(f) 
	 Company
	  	 	Preamble	 
	 Company Board
	  	 	Recitals	 
	 Company D&O Tail Policy
	  	 	7.14	(a) 
	 Company Financial Statements
	  	 	4.6	(a) 
	 Company Indemnified Parties
	  	 	7.14	(b) 
	 Company Plans
	  	 	4.21	(a) 
	 Company Stockholder Approval
	  	 	Recitals	 
	 DGCL
	  	 	Recitals	 
	 Disclosure Schedule
	  	 	Article 4	 
	 Dispute Statement
	  	 	3.3	(c) 
	 Dissolved Subsidiaries
	  	 	4.2	(d) 
	 Effective Time
	  	 	2.3	 
	 ERISA Affiliates
	  	 	4.21	(a) 
	 Estimated Closing Working Capital
	  	 	3.3	(a) 
	 Expense Fund
	  	 	3.6	(e) 
	 General Survival Period
	  	 	7.6	(a) 
	 Inbound Licenses
	  	 	4.13	(e) 
	 Independent Company Directors
	  	 	Preamble	 
	 Insurance Policies
	  	 	4.23	 
	 IP Agreement
	  	 	4.13	(h) 
	 Key Employees
	  	 	Preamble	 
	 Leased Real Property
	  	 	4.12	 
	 Lock-Up Agreement
	  	 	Recitals	 

  
 12 

					
	 Defined Term
	  	Section	 
	 Material Contracts
	  	 	4.16	(a) 
	 Merger
	  	 	Recitals	 
	 Merger Stockholders
	  	 	Preamble	 
	 Merger Sub
	  	 	Preamble	 
	 Objection Notice
	  	 	7.5	(b) 
	 Outbound Licenses
	  	 	4.13	(f) 
	 Parent
	  	 	Preamble	 
	 Parent Indemnified Parties
	  	 	7.2	 
	 Parent SEC Documents
	  	 	6.9	 
	 Parties
	  	 	Preamble	 
	 Paying Agent
	  	 	1.1	(c) 
	 PEO Plan
	  	 	2.7	(d) 
	 Permits
	  	 	4.18	(b) 
	 Post-Closing Statement
	  	 	3.3	(b) 
	 Pre-Closing Statement
	  	 	3.3	(a) 
	 Prospectus Supplement
	  	 	3.5	(b) 
	 Registration Statement
	  	 	3.5	(b) 
	 Released Parties
	  	 	2.7	(c) 
	 Representative
	  	 	Preamble	 
	 Representative Losses
	  	 	3.6	(d) 
	 Resolution Period
	  	 	3.3	(d) 
	 Review Period
	  	 	3.3	(c) 
	 SEC
	  	 	6.9	 
	 Share Recipients
	  	 	Preamble	 
	 Surviving Corporation
	  	 	2.1	 
	 Tax Claim
	  	 	8.2	(a) 
	 Tax Survival Period
	  	 	7.6	(a) 
	 Transactions
	  	 	Recitals	 
	 Transfer Taxes
	  	 	8.5	 
	 Unaudited Balance Sheet
	  	 	4.6	(a) 

  

	1.3	 Construction 

Any reference in this Agreement to an “Article,” “Section” or “Schedule” refers to the corresponding Article,
Section or Schedule of or to this Agreement, unless the context indicates otherwise. The table of contents and the headings of Articles and Sections are provided for convenience only and are not intended to affect the construction or interpretation
of this Agreement. All words used in this Agreement are to be construed to be of such gender or number as the circumstances require. The words “including,” “includes,” or “include” are to be read as listing non-exclusive examples of the matters referred to, whether or not words such as “without limitation” or “but not limited to” are used in each instance. Where this Agreement states that a party
“shall”, “will” or “must” perform in some manner or otherwise act or omit to act, it means that the party is legally obligated to do so in accordance with this Agreement. Any reference to a statute is deemed also to
refer to any amendments or successor legislation as in effect at the relevant time. Any reference to a Contract or other document as of a given date means the Contract or other document as amended, supplemented and modified from time to time through
such date. 
  

	2.	 THE MERGER 

  

	2.1	 The Merger 

Upon the terms and subject to the conditions set forth in this Agreement and in accordance with the DGCL, the Company will be merged with and
into Merger Sub at the Effective Time, 

  
 13 

 
whereupon the separate corporate existence of Merger Sub will cease, and the Company will continue as the surviving corporation in the Merger (the “Surviving Corporation”) and a
wholly owned Subsidiary of Parent. 
  

	2.2	 Closing 

The closing of the Transactions (the “Closing”) will take place electronically at 4:00pm Eastern Standard Time on the date
hereof, or at such other time and place as Parent and the Company may agree. The date on which the Closing actually occurs is referred to in this Agreement as the “Closing Date.” 

 

	2.3	 Effective Time 

Subject to the provisions of this Agreement, on the Closing Date, the Parties will file a certificate of merger with respect to the Merger with
the Secretary of State of the State of Delaware (the “Certificate of Merger”), executed in accordance with the DGCL. The Merger will become effective at such time as the Certificate of Merger is duly filed with the Secretary of
State of the State of Delaware, or at such other time as Parent and the Company shall agree and shall specify in the Certificate of Merger (the time the Merger becomes effective being the “Effective Time”). 

 

	2.4	 Withholding 

Each of Parent, the Surviving Corporation or any Subsidiary or agent of the Parent shall be entitled to deduct and withhold from any sum or
consideration to be provided pursuant to this Agreement such amounts as are required to be deducted and withheld under the Code or any other applicable Tax Law. To the extent such amounts are so deducted or withheld and timely and properly remitted
to the applicable Governmental Authority, such amounts shall be treated for all purposes of this Agreement as having been paid to the Person to whom such amounts would otherwise have been paid. To the extent that such amounts are not so deducted and
withheld and a Governmental Authority imposes any Tax on Parent, the Surviving Corporation or any Subsidiary or agent of the Parent as a result of the failure to deduct and withhold, the applicable recipient of the payment shall indemnify Parent,
the Surviving Corporation or any Subsidiary or agent of the Parent, as applicable, for such Tax. 
  

	2.5	 Effects of the Merger 

The Merger will have the effects set forth in this Agreement and the applicable provisions of the DGCL. Without limiting the generality of the
foregoing, from and after the Effective Time, all rights, properties, privileges, immunities and franchises, of a public as well as a private nature, of the Company and Merger Sub will vest in the Surviving Corporation and will be subject to all
liabilities, obligations and penalties of the Company and Merger Sub, all with the effects set forth in the DGCL. 
  

	2.6	 Charter Documents 

As of the Effective Time, the certificate of incorporation and bylaws of Merger Sub, as in effect immediately prior to the Effective Time, will
be the certificate of incorporation and bylaws of the Surviving Corporation until amended in accordance with applicable Law, except that the name of the Surviving Corporation will be substantially similar to the name of the Company. 

  
 14 

	2.7	 Directors, Officers 

  

	 	(a)	 The directors of Merger Sub immediately prior to the Effective Time will be the initial directors of the
Surviving Corporation and will hold office from the Effective Time until their respective successors are duly elected or appointed and qualified in the manner provided in the certificate of incorporation and bylaws of the Surviving Corporation or as
otherwise provided by Law. 

  

	 	(b)	 The officers of Merger Sub immediately prior to the Effective Time will be the initial officers of the
Surviving Corporation and will hold office from the Effective Time until their respective successors are duly elected or appointed, or until their earlier resignation, termination or death. 

 

	 	(c)	 Each of the Key Employees and Independent Company Directors hereby resigns from his or her position with the
Company and acknowledges that he or she has no claim or right of action of any kind whatsoever (a “Claim”) against the Company, Parent or any of his or her respective servants, officers, agents or employees (the “Released
Parties”), except for any Claim that any Key Employee or Independent Company Director may have in his or her capacity as a holder of Parent Consideration Stock under this Agreement. To the extent that any such Claim against a Released Party
exists or may exist, each Key Employee and Independent Company Director hereby irrevocably waives such Claim and releases and forever discharges the Released Parties from all and any liability in respect thereof. 

 

	 	(d)	 The Company and any ERISA Affiliate shall terminate or, in the case of any professional employer organization
plan (each a “PEO Plan”), shall terminate its participation in, any and all Company Plans, including any plans intended to meet the requirements of Code Section 125 (each a “125 Plan”) or Code
Section 401(a), and shall cause any professional employer organization or co-employer organization to terminate the participation of each employee in any PEO Plan maintained by such organization. On or
prior to the Closing Date, the Company shall provide Parent with evidence that the Company Plans, or, in the case of any PEO Plans, the Company’s participation in the PEO Plans, have been terminated as of the Closing Date pursuant to
resolutions of the Company Board, such ERISA Affiliate or such other organization. The form and substance of such resolutions, and the manner in which the Company’s participation in any PEO Plan is terminated, shall be subject to review and
approval of Parent. The Company also shall take such other actions in furtherance of the foregoing as Parent may reasonably require. 

  

	 	(e)	 The Company shall terminate all contracts with professional employer organizations, or other agreements or
arrangements providing for co-employment of employees of the Company on or prior to the Closing Date, including sending all required notices, such that (a) each such contract, agreement or arrangement
shall be of no further force or effect immediately prior to the Closing, in each case without any remaining Liability of any kind on the part of the Company, Parent or any of its affiliates, (b) immediately prior to the Closing, the employees
shall be considered solely employees of the Company for all purposes and (c) each employee’s participation in any Company Plans sponsored by a professional employer organization or co-employer entity
shall terminate as of the Closing Date to the extent permitted under the terms of such Company Plan. 

  
 15 

	2.8	 Closing Spreadsheet 

Attached hereto as Schedule 1 is a spreadsheet (the “Closing Spreadsheet”) that sets forth all of the following information
(in addition to the other required data and information specified therein), as of immediately prior to the Closing: 
  

	 	(a)	 the names of all the Share Recipients and their respective addresses and, where available, email addresses;

  

	 	(b)	 the number and class of shares of Company Capital Stock held by each of the stockholders of the Company,
including the respective certificate numbers and stockholder name exactly as shown on such certificate; 

  

	 	(c)	 the number of shares of Parent Consideration Stock to be issued to each Merger Stockholder in exchange for
shares of Series C Preferred Stock or Series C-1 Preferred Stock, as applicable, held by such Person pursuant to this Agreement (where relevant); and 

 

	 	(d)	 the Pro Rata Share of each Share Recipient. 

 

	2.9	 Closing Deliverables 

 

	 	(a)	 At the Closing, the Company and the Share Recipients, as applicable, will deliver or cause to be delivered to
Parent: 

  

	 	(i)	 Certificate of Merger, executed on behalf of the Company; 

 

	 	(ii)	 a certificate from the Company, validly executed by the Secretary of the Company for and on the Company’s
behalf, certifying (i) the terms and effectiveness of the Company Charter and the bylaws of the Company, (ii) the valid adoption of the resolutions of the Company Board (whereby the Merger, this Agreement and the Transactions were
unanimously approved by the Company Board), (iii) the validity and effectiveness of the Company Stockholder Approval, (iv) the Pre-Closing Statement and (v) the paid and outstanding Transaction
Expenses; 

  

	 	(iii)	 the Company Stockholder Approval; 

 

	 	(iv)	 [Reserved] 

  

	 	(v)	 [Reserved] 

  

	 	(vi)	 (i) a statement conforming with the requirements of Treasury Regulations Sections 1.897-2(h) and 1.1445-2(c)(3) certifying that shares of capital stock of the Company do not constitute “United States real property interests” under Section 897(c) of the Code and (ii) a form of
notice to the IRS conforming with the requirements of Treasury Regulations Section 1.897-2(h)(2), together with written authorization for Parent to deliver such notice to the IRS on behalf of the Company
following the Effective Time; and 

  
 16 

	 	(vii)	 Lock-Up Agreements, executed by the Share Recipients.

  

	 	(b)	 At the Closing, Parent will deliver or cause to be delivered to the Company: 

 

	 	(i)	 the Certificate of Merger, executed on behalf of Merger Sub; 

 

	 	(ii)	 a certificate from Parent, validly executed by a director of Parent for and on Parent’s behalf, certifying
as to the valid adoption of the resolutions of the board of directors of Parent (whereby the Merger, this Agreement, the Transactions and the issue of Parent Consideration Stock were unanimously approved by the board of directors of Parent); and

  

	 	(iii)	 written confirmation that NASDAQ has completed its review of the Listing of Additional Shares Notification Form
submitted by Parent to NASDAQ in connection with the proposed issuance of Parent Consideration Stock included in the Closing Consideration. 

  

	 	(c)	 Promptly after the Effective Time, Parent shall cause Computershare Limited (the “Paying
Agent”) to deliver or otherwise make available to the Share Recipients instructions for use in effecting the surrender of the non-certificated shares of the Company held by book-entry
(“Book-Entry Shares”). At the Closing, Parent shall pay the Closing Consideration by instructing the Paying Agent to issue the Parent Consideration Stock to the Share Recipients in accordance with Schedule 1, which shall be subject
to the Lock-Up Agreements. Exchange of the Book-Entry Shares shall be effected in accordance with the Paying Agent’s customary procedures with respect to securities represented by book-entry.

  

	 	(d)	 At the Closing, Merger Sub will deliver or cause to be delivered to the Company a certificate from Merger Sub,
validly executed by the Secretary of Merger Sub for and on the Merger Sub’s behalf, certifying as to the valid adoption of the resolutions of the board of directors of the Merger Sub (whereby the Merger, this Agreement and the Transactions were
unanimously approved by the board of directors of Merger Sub). 

  

	 	(e)	 As soon as practicable following Closing, Parent will procure that the name of each Share Recipient is entered
in the register of members of the Parent as holders of the relevant number of shares of Parent Consideration Stock issued in accordance with Schedule 1 (Closing Spreadsheet). 

 

	3.	 EFFECT OF THE MERGER; EXCHANGE PROCEDURES 

 

	3.1	 Effect of the Merger on Capital Stock 

At the Effective Time, by virtue of the Merger and without any action on the part of Parent, Merger Sub, the Company, the stockholders of the
Company or any other Person: 
  

	 	(a)	 Each share of common stock, par value $0.01 per share, of Merger Sub issued and outstanding immediately prior
to the Effective Time will be converted into and become one validly issued, fully paid and nonassessable share of common stock, par value $0.01 per share, of the Surviving Corporation, and thereupon each certificate representing ownership of such
shares of Company Capital Stock will thereafter represent ownership of shares of common stock of the Surviving Corporation. 

  
 17 

	 	(b)	 At the Effective Time, each share of Company Capital Stock that is owned by the Company or its wholly owned
Subsidiaries and not by the stockholders of the Company will automatically be canceled and retired and will cease to exist, and no consideration will be delivered in exchange therefor. 

 

	 	(c)	 At the Effective Time, each share of Company Common Stock issued and outstanding immediately prior to the
Effective Time shall be canceled and retired and shall cease to exist, and no consideration shall be delivered in exchange therefor. 

  

	 	(d)	 Each share of Company Preferred Stock that is issued and outstanding immediately prior to the Effective Time
(other than Dissenting Shares) will be canceled and extinguished, and each such share will be converted into the right to receive on Closing, such number of shares of Parent Consideration Stock, as is set out in the Closing Spreadsheet.

  

	3.2	 No Further Ownership Rights in Company Capital Stock 

The cancellation of the Company Common Stock and the issue of shares of Parent Consideration Stock in respect of the surrender for exchange of
shares of Company Preferred Stock in accordance with the terms of this Agreement shall be deemed to be full satisfaction of all rights pertaining to such shares of Company Capital Stock, and there shall be no further registration of transfers on the
records of the Surviving Corporation of shares of Company Capital Stock which were outstanding immediately prior to the Effective Time. 
  

	3.3	 Post-Closing Adjustment to Total Consideration 

 

	 	(a)	 Attached hereto as Schedule 2 is a statement (the “Pre-Closing
Statement”) dated no more than three (3) Business Days prior to the Closing Date setting forth in reasonable detail the Company’s good faith estimate of each of the Closing Debt, Closing Cash, Change of Control Payments,
Transaction Expenses and Closing Working Capital (including a reasonably detailed description of each component thereof) (such estimate of Closing Working Capital, the “Estimated Closing Working Capital”). Such estimates to be
prepared in good faith and in accordance with the policies, conventions, methodologies and procedures used by the Company in preparing its most recent Company financial statements to the extent consistent with GAAP. Based on such estimates and prior
to Closing, the Company and Parent shall in good faith calculate and mutually agree on estimates of such amounts to be used for purposes of adjusting the Closing Consideration for purposes of Closing. 

 

	 	(b)	 As promptly as practicable, but in no event later than ninety (90) calendar days after the Closing Date,
Parent shall cause the Surviving Corporation to prepare and deliver to the Representative, a statement (the “Post-Closing Statement”) setting forth in reasonable detail the Surviving Corporation’s calculations of the Deferred
Consideration payable as of such time and the final calculations of Closing Debt, Closing Cash, Change of Control Payments, Transaction Expenses and Closing Working Capital, such calculations to be prepared in good faith and in accordance with the
policies, conventions, methodologies and procedures used by the Company in preparing its most recent Company financial statements to the extent consistent with GAAP. 

  
 18 

	 	(c)	 The Representative shall have thirty (30) days following its receipt of the Post-Closing Statement (the
“Review Period”) to review the Post-Closing Statement. On or before the expiration of the Review Period, the Representative shall deliver to Parent a written statement accepting or disputing each item set forth on the Post-Closing
Statement. In the event that the Representative disputes an item on the Post-Closing Statement, the Representative shall deliver to Parent a statement (a “Dispute Statement”) that includes (i) a reasonably detailed itemization
of the Representative’s objections and the reasons therefor, together with supporting documentation, information and calculations and (ii) the Representative’s alternative calculation of each disputed item. Any component of the
Post-Closing Statement that is not disputed in a Dispute Statement shall be final and binding on the Parties and not subject to appeal. If the Representative does not deliver a Dispute Statement to Parent within the Review Period or delivers a
statement accepting all items detailed on the Post-Closing Statement, such Post-Closing Statement shall be final and binding on the Parties and not subject to appeal. 

 

	 	(d)	 If the Representative delivers a Dispute Statement during the Review Period, Parent and the Representative
shall promptly meet and attempt in good faith to resolve their differences with respect to the disputed items set forth in the Dispute Statement during the thirty (30) calendar days immediately following Parent’s receipt of the Dispute
Statement, or such longer period as Parent and the Representative may mutually agree (the “Resolution Period”). Any such disputed items that are resolved by Parent and the Representative during the Resolution Period shall be final
and binding on the Parties and not subject to appeal. If Parent and the Representative do not resolve all such disputed items by the end of the Resolution Period, Parent and the Representative shall submit all items remaining in dispute with respect
to the Dispute Statement to an independent firm of accountants nominated by Parent and agreed upon by the Representative (the “Accounting Firm”) for review and resolution. The Accounting Firm shall act as an expert and not an
arbitrator. The Accounting Firm shall make all calculations in accordance with GAAP, shall determine only those items remaining in dispute between Parent and the Representative, and shall not be permitted or authorized to assign a dollar amount to
any item in dispute greater than the greatest value for such item claimed by either party or less than the smallest value for such item claimed by either party. Each of Parent and the Representative shall (i) enter into a customary engagement
letter with the Accounting Firm at the time such dispute is submitted to the Accounting Firm and otherwise reasonably cooperate with the Accounting Firm, (ii) have the opportunity to submit a written statement in support of their respective
positions with respect to such disputed items, to provide supporting material to the Accounting Firm in defense of their respective positions with respect to such disputed items and to submit a written statement responding to the other party’s
position with respect to such disputed items and (iii) subject to customary confidentiality and indemnity agreements, provide the Accounting Firm with access to their respective books, records, personnel and representatives and such other
information as the Accounting Firm may require in order to render its determination. The Accounting Firm shall be instructed to deliver to Parent and the Representative a written determination (such determination to include a worksheet setting forth
all material calculations used 

  
 19 

	 	
in arriving at such determination and to be based solely on information provided to the Accounting Firm by Parent and the Representative) of the disputed items within thirty (30) calendar
days of receipt of the disputed items, which determination shall be final and binding on the Parties and not subject to appeal, absent manifest error or fraud. The fees and expenses of the Accounting Firm shall be borne by Parent, on the one
hand, and the Merger Stockholders, on the other hand, based on a percentage equal to (x) the portion of the total amounts disputed not awarded to each such party divided by (y) the total amounts disputed. For example, if the
Representative challenges the calculation of the Closing Working Capital by an amount of $100,000, but the Accounting Firm determines that the Representative has a valid claim for only $60,000, the Representative will bear forty percent (40%) of the
fees and expenses of the Accounting Firm and Parent will bear the other sixty percent (60%) of such fees and expenses. 

  

	 	(e)	 If the Closing Working Capital as finally determined pursuant to this Section 3.3 is less than the
Estimated Closing Working Capital as set forth on the Pre-Closing Statement, then Parent shall reduce the Deferred Consideration by such shortfall; provided, however, that if no Milestone Event (as defined in
Schedule 3) has been achieved by the date that is twenty-four (24) months following the Closing Date, Parent shall be entitled to pursue the Share Recipients (except for HPSO SPV Limited) for such shortfall in accordance with
Section 7.8(a). If Closing Working Capital as finally determined pursuant to this Section 3.3 is greater than the Estimated Closing Working Capital as set forth on the Pre-Closing Statement, then
Parent shall pay such difference in Cash to the Share Recipients within ten (10) Business Days. The foregoing notwithstanding, no payment pursuant to this Section 3.3(e) shall be required to be made unless the amount of that payment
exceeds $100,000, in which circumstances the whole amount shall be payable and not merely the excess over $100,000. 

  

	 	(f)	 If the Closing Cash as finally determined pursuant to this Section 3.3 is either greater than or less than
the estimated Closing Cash as set forth in Schedule 2 (Pre-Closing Statement), then Parent shall reduce or increase, as applicable, the Deferred Consideration by such difference; provided, however, that
if no Milestone Event (as defined in Schedule 3) has been achieved by the date that is twenty-four (24) months following the Closing Date, Parent shall (i) pay any positive difference between Closing Cash as finally determined pursuant to
this Section 3.3 and estimated Closing Cash as set forth in Schedule 2 (Pre-Closing Statement) in Cash to the Share Recipients within ten (10) Business Days, or (ii) be entitled to pursue
the Share Recipients (except for HPSO SPV Limited) for any negative difference between Closing Cash as finally determined pursuant to this Section 3.3 and estimated Closing Cash as set forth in Schedule 2
(Pre-Closing Statement). 

  

	 	(g)	 Any payment made under this Section 3.3 shall be treated as an adjustment to the Total Consideration for
applicable Tax purposes, to the extent permitted by applicable Law. 

  

	3.4	 Deferred Consideration 

 

	 	(a)	 Notwithstanding anything in this Agreement, none of Parent, Merger Sub or any of their respective Affiliates
(A) shall be under any obligation or have any duty to act in such a 

  
 20 

	 	
manner that any of the Deferred Consideration is paid, or if payable, is maximized, (B) will owe any holder of Company Capital Stock any fiduciary or other similar duty in respect of this
Section 3.4, or (C) will have any obligation, or shall be bound by an agreement or covenant of any kind, in respect of this Section 3.4 other than an obligation to comply with the covenants and agreements expressly set forth in this
Section 3.4, it being the Parties’ intention that any other covenants, agreements and/or obligations are expressly waived and disclaimed; provided, however, Parent and the Company (following the Closing) shall not take action with the
primary and bad faith intention of avoiding or reducing the Deferred Consideration. 

  

	 	(b)	 Within thirty (30) days after each Deferred Consideration milestone has been achieved in accordance with
Schedule 3 hereto, Parent shall deliver a notice to the Representative of such milestone, and within ninety (90) days after the achievement of each Deferred Consideration milestone, Parent shall pay, or cause the Surviving Corporation to pay,
the Pro Rata Share of each Share Recipient, to be paid in the method elected by Parent in accordance with Section 3.4(c). 

  

	 	(c)	 At its sole discretion, Parent may choose to pay the Deferred Consideration in Cash or in Parent Consideration
Stock or a combination of both, so long as the Parent Consideration Stock is issued in accordance with this Agreement. 

  

	 	(d)	 In no event shall the total number of Parent Consideration Stock issued hereunder (including, without
limitation any Parent Consideration Stock issued as part of the Closing Consideration or the Deferred Consideration) exceed 19.9% of the total outstanding capital stock of Parent as of the Effective Time (not including any Parent capital stock that
is owned by Parent and without assuming the conversion or exercise of any options, warrants or other convertible securities), unless Parent has first obtained the required stockholder approval of the issuance of more than such number of Parent
Consideration Stock pursuant to NASDAQ Marketplace Rule 5635. 

  

	 	(e)	 The Share Recipients agree and acknowledge as to the Milestone Payment Amounts (as defined in Schedule 3
hereto) that (i) there are no representations or warranties of Parent other than those expressly set forth in this Agreement; and (ii) they have not relied and will not rely in respect of this Agreement or the transactions contemplated
hereby upon any document or written or oral information previously furnished to or discovered by them, other than this Agreement. 

  

	 	(f)	 Any Milestone Payment Amounts made pursuant to this Section 3.4 represent consideration in addition to the
Closing Consideration. The right to receive the Milestone Payment Amounts: (i) does not give any Share Recipient dividend rights, voting rights, liquidation rights, preemptive rights or other rights of holders of capital stock of the Company;
(ii) shall not be evidenced by a certificate or other instrument; (iii) shall not be assignable or otherwise transferrable, except by (A) will or intestate succession to an immediate family member, (B) to a trust whose
beneficiaries consist exclusively of one or more of the undersigned and/or an immediate family member, (C) by operation of law, (D) by instrument to an inter vivos or testamentary trust in which the Share Recipient’s right to the
Milestone Payment Amounts is to be passed to beneficiaries upon the death of the trustee, (E) pursuant to a court order, (F) if such Share Recipient is a partnership, trust or a limited liability company, pursuant to (1) a

  
 21 

	 	
permitted disposition to one or more partners or members of such Share Recipient or (2) an assignment or transfer to one or more Affiliates of such Share Recipient (excluding for purposes
hereof, any portfolio company of such Share Recipient), (G) if such Share Recipient is a corporation, to an Affiliate of such Share Recipient or (H) without consideration in connection with the dissolution, liquidation or termination of any
corporation, limited liability company, partnership or other entity; provided that, in each case, such transferee or assignee shall provide to each of Parent and the Representative, at their respective request, any evidence of the transfer or
assignment that Parent or the Representative, as the case may be, may reasonably request. None of Parent, the Surviving Corporation or the Representative shall give effect to any purported assignment or transfer made in contravention of this clause
(f); (iv) shall not accrue or pay interest on any portion thereof; and (v) does not represent any right other than the right to receive the consideration set forth in this Schedule 3.4. Any attempted transfer of the right to receive the
Milestone Payment Amounts, other than as specifically permitted by the immediately preceding sentence, shall be null and void. 

  

	 	(g)	 Subject to the limitations set forth in Article 7 (Indemnification), Parent shall be entitled to set-off any unpaid indemnification obligations determined pursuant to Article 7 against the then unpaid Milestone Payment Amounts. 

 

	3.5	 Parent Consideration Stock; Registration Rights 

 

	 	(a)	 The Parent Consideration Stock issued pursuant to the terms of this Agreement will be issued in a transaction
exempt from registration under the Securities Act by reason of Section 4(a)(2) thereof and/or Regulation D promulgated under the Securities Act and may not be re-offered or resold other than in conformity
with the registration requirements of the Securities Act and such other applicable rules and regulations or pursuant to an exemption therefrom. Until the resale by the Share Recipients of their Parent Consideration Stock has become registered under
the Securities Act, or otherwise transferable pursuant to an exemption from such registration otherwise required thereunder, the Parent Consideration Stock issued to the Share Recipients shall be characterized as “restricted securities”
under the Securities Act and, if certificated, shall bear the following legend (or if held in book entry form, will be noted with a similar restriction): 

“THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY, AND THE RESALE OF SUCH SHARES HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES MAY NOT BE RESOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION WITHOUT AN EXEMPTION UNDER THE SECURITIES ACT.” 

Parent agrees to cooperate in a timely manner with the Share Recipients holding registrable securities to remove any restrictive legends or
similar transfer instructions from the registrable securities upon the registration of the registrable securities or in the event that the registrable securities are otherwise transferable pursuant to an exemption from registration otherwise
required thereunder. 

  
 22 

	 	(b)	 As promptly as reasonably practicable following the date that is ninety (90) days after the Closing Date,
but in no event more than ten (10) Business Days following such date, Parent shall file with the SEC a prospectus supplement (a “Prospectus Supplement”) under its existing shelf registration statement on Form S-3 registering the resale on a continuous basis of the shares of Parent common stock issued as Closing Consideration held by all Share Recipients that have adequately and timely provided Parent with all selling
stockholder information required under the Securities Act and the rules and regulations promulgated thereunder to be included in the Prospectus Supplement. If Parent is ineligible to promptly file the Prospectus Supplement, Parent shall promptly
file a registration statement with the SEC registering for resale on a continuous basis the shares of Parent common stock issued as Closing Consideration held by all Share Recipients that have adequately and timely provided Parent with all selling
stockholder information required under the Securities Act and the rules and regulations promulgated thereunder to be included in the registration statement (the “Registration Statement”). Parent shall use its commercially reasonable
efforts to cause such registration statement to be declared effective as soon as reasonably practicable. 

  

	 	(c)	 Parent will keep each Share Recipient reasonably advised in writing (which may include e-mail) as to the initiation of each registration and as to the completion thereof. Parent will use its commercially reasonable efforts to cause such Prospectus Supplement or Registration Statement to remain
effective at least for a period ending with the first to occur of (i) the date which is twelve (12) months following the filing date or (ii) the sale of all securities covered by the Prospectus Supplement or Registration Statement.

  

	 	(d)	 As a condition to its obligations under this Section 3.5, Parent may require each Share Recipient that
holds the securities as to which any registration is being effected to (i) furnish Parent with such information regarding such Person that is necessary to satisfy the disclosure requirements relating to the registration and the distribution of
such securities under the Securities Act and the rules and regulations promulgated thereunder as Parent may from time to time reasonably request in writing and (ii) promptly notify Parent in writing of any changes in the information set forth
in the Prospectus Supplement or Registration Statement regarding the Share Recipient. None of the information supplied (or to be supplied) by or on behalf of any of the Share Recipients for inclusion or incorporation by reference in the Prospectus
Supplement or Registration Statement will, as of its date, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements made therein, in light of the
circumstances under which they are made, not misleading. 

  

	 	(e)	 Parent shall pay all fees and expenses in connection with compliance with its obligations under this
Section 3.5, including all fees and expenses in connection with the filing of any Prospectus Supplement or Registration Statement, the registering of the shares of Parent common stock issued as Closing Consideration, transfer agent fees, the
maintenance of the effectiveness of its shelf registration statement, and the listing of the Parent shares on NASDAQ, including all registration, filing, qualification, printing, accounting and other fees and expenses, except that Parent shall not
be responsible for the fees of the representatives of and counsel to, the Share Recipients, including those with respect to any review and preparation of any Prospectus Supplement or Registration Statement. 

  
 23 

	 	(f)	 So long as any of the Closing Consideration and Deferred Consideration held by any Share Recipient are
“restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, Parent will use its reasonable best efforts (a) to timely file all reports required to be filed by Parent after the date hereof under the Exchange
Act (including the reports pursuant to Section 13(a) or 15(d) of the Exchange Act referred to in subparagraph (c)(1) of Rule 144) and the rules and regulations adopted by the SEC thereunder), and (b) if Parent is not required to file
reports pursuant to such sections, it will prepare and furnish to the Share Recipients and make publicly available in accordance with Rule 144(c) such information as is required for the Share Recipients to sell the Closing Consideration and Deferred
Consideration under Rule 144, all to the extent required from time to time to enable the Share Recipients to sell Parent Consideration Stock without registration under the Securities Act within the limitation of the exemptions provided by Rule 144.

  

	3.6	 Representative 

  

	 	(a)	 In order to efficiently administer certain matters contemplated hereby following the Closing, including any
actions that the Representative may, in its sole discretion, determine to be necessary, desirable or appropriate in connection with the matters set forth in this Agreement, the Share Recipients, by the adoption of this Agreement and acceptance of
consideration under this Agreement, hereby designate and empower Shareholder Representative Services LLC as the Representative for all purposes in connection with this Agreement and the Lock-Up Agreements or
any agreements ancillary hereto or thereto. 

  

	 	(b)	 In the event the Representative dies, becomes unable to perform his, her or its responsibilities hereunder or
resigns from such position, the Share Recipients, who together are entitled to a majority of the Total Consideration at such time shall be authorized to and shall select another representative to fill such vacancy and such substituted representative
shall be deemed to be the Representative for all purposes of this Agreement and the documents delivered pursuant hereto. 

  

	 	(c)	 By their adoption of this Agreement and acceptance of consideration under this Agreement, the Share Recipients
hereby agree, in addition to the foregoing, that: 

  

	 	(i)	 the Representative shall constitute the true and lawful representative, agent and attorney-in-fact of each Share Recipients with full power in his, her or its name and on his, her or its behalf to act according to the terms of this Agreement and in general
to do all things and to perform all acts including, without limitation, executing and delivering any agreements, certificates, receipts, instructions, notices or instruments contemplated by or deemed advisable in connection with this Agreement. The
Representative hereby accepts such appointment; 

  

	 	(ii)	 the Representative shall take any and all actions that it believes are necessary or appropriate under this
Agreement for and on behalf of the Share Recipients; 

  
 24 

	 	(iii)	 the Representative shall have full authority to (A) execute, deliver, acknowledge, certify and file on
behalf of the Share Recipients (in the name of any or all of the Share Recipients or otherwise) any and all documents that the Representative may, in its sole discretion, determine to be necessary, desirable or appropriate, in such forms and
containing such provisions as the Representative may, in its sole discretion, determine to be appropriate, (B) give and receive notices and other communications relating to this Agreement and the transactions contemplated hereby and thereby
(except to the extent that this Agreement contemplates that such notice or communication shall be given or received by the Share Recipients individually), (C) take or refrain from taking any actions (whether by negotiation, settlement, litigation or
otherwise) to resolve or settle all matters and disputes arising out of or related to this Agreement and the transactions contemplated hereby and thereby and (D) engage attorneys, accountants, financial and other advisors, paying agents and
other persons necessary or appropriate in the judgment of the Representative for the accomplishment of the foregoing; 

  

	 	(iv)	 Parent shall be entitled to rely conclusively on the instructions and decisions given or made by the
Representative as to any of the matters described in this Section 3.6, and no party shall have any cause of action against Parent for any action taken by Parent in reliance upon any such instructions or decisions; 

 

	 	(v)	 all actions, decisions and instructions of the Representative shall be conclusive and binding upon each of the
Share Recipients and no Share Recipient shall have any cause of action against the Representative for any action taken, decision made or instruction given by the Representative in connection with this Agreement or the agreements, except as otherwise
provided in this Section 3.6; 

  

	 	(vi)	 the provisions of this Section 3.6 are independent and severable, are irrevocable and coupled with an
interest, and shall be enforceable notwithstanding any rights or remedies that any Share Recipient may have in connection with the transactions contemplated by this Agreement; 

 

	 	(vii)	 the provisions of this Section 3.6 shall be binding upon the executors, heirs, legal representatives
successors and assigns of each Share Recipient and any references in this Agreement to any Share Recipient (or them collectively) shall mean and include the successors to the Share Recipients’ rights hereunder, whether pursuant to testamentary
disposition, the laws of descent and distribution or otherwise; and 

  

	 	(viii)	 the Representative shall have no duties or obligations hereunder, except those expressly set forth herein, and
such duties and obligations shall be determined solely by the express provisions of this Agreement. 

  

	 	(d)	 The Representative will incur no liability in connection with its services pursuant to this Agreement and any
related agreements except to the extent resulting from its bad faith, gross negligence or willful misconduct. The Representative shall not be liable for any action or omission pursuant to the advice of counsel. The Share Recipients shall,

  
 25 

	 	
severally, and not jointly, indemnify the Representative against any reasonable, documented, and out-of-pocket
losses, liabilities and expenses (“Representative Losses”) arising out of or in connection with this Agreement and any related agreements, in each case as such Representative Loss is suffered or incurred; provided, that in the event
that any such Representative Loss is finally adjudicated to have been caused by the bad faith, gross negligence or willful misconduct of the Representative, the Representative will reimburse the Share Recipients the amount of such indemnified
Representative Loss to the extent attributable to such bad faith, gross negligence or willful misconduct. Representative Losses may be recovered by the Representative from (i) the funds in the Expense Fund and (ii) any other funds that
become payable to the Share Recipients under this Agreement at such time as such amounts would otherwise be distributable to the Share Recipients; provided, that while the Representative may be paid from the aforementioned sources of funds, this
does not relieve the Share Recipients from their obligation to promptly pay such Representative Losses as they are suffered or incurred. In no event will the Representative be required to advance its own funds on behalf of the Share Recipients or
otherwise. Notwithstanding anything in this Agreement to the contrary, any restrictions or limitations on liability or indemnification obligations of, or provisions limiting the recourse against non-parties
otherwise applicable to, the Share Recipients set forth elsewhere in this Agreement are not intended to be applicable to the indemnities provided to the Representative hereunder. The foregoing indemnities will survive the Closing, the resignation or
removal of the Representative. Neither the Company nor Parent shall have any liability to the Representative in connection with the provision of such services under this Section 3.6. 

 

	 	(e)	 On or prior to the Closing Date, the Company will wire $[***] (the “Expense Fund”) to the
Representative, which will be used for any expenses incurred by the Representative. The Share Recipients will not receive any interest or earnings on the Expense Fund and irrevocably transfer and assign to the Representative any ownership right that
they may otherwise have had in any such interest or earnings. The Representative will hold these funds separate from its corporate funds and will not voluntarily make these funds available to its creditors in the event of bankruptcy. As soon as
practicable following the completion of the Representative’s responsibilities, the Representative shall cause (at the Share Recipients’ expense) the disbursement of any remaining balance of the Expense Fund to the Share Recipients based on
such Share Recipients pro rata portions as set forth in Schedule 2 (Pre-Closing Statement), except in the case of payments to employees or former employees of the Company for which employment tax
withholding is required, which such amounts shall be delivered to Parent or the Surviving Corporation and paid through Parent’s or Surviving Corporation’s payroll processing service or system. For tax purposes, the Expense Fund shall be
treated as having been received and voluntarily set aside by the Share Recipients at the time of Closing. The parties agree that the Representative is not responsible for any tax reporting or withholding in connection with the distribution of the
Expense Fund. 

  

	3.7	 Appraisal Rights. 

Notwithstanding anything contained herein to the contrary, any Dissenting Shares shall not be converted into or represent the right to receive
shares of Parent Consideration Stock issued 

  
 26 

 
pursuant to Sections 3.1 but shall instead be converted into the right to receive such consideration as may be determined to be due with respect to any such Dissenting Shares pursuant to the DGCL
(and at the Effective Time, such Dissenting Shares shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and such holder shall cease to have any rights with respect thereto, except the rights set forth in the
DGCL). Each holder of Dissenting Shares who, pursuant to the provisions of the DGCL, becomes entitled to payment thereunder for such shares shall receive payment therefor in accordance with the DGCL (but only after the value therefor shall have been
agreed upon or finally determined pursuant to such provisions). If, after the Effective Time, any Dissenting Shares lose their status as Dissenting Shares, then any such shares shall immediately be converted into the right to receive shares of
Parent Consideration Stock in respect of such shares as if such shares never had been Dissenting Shares, and Parent shall issue and deliver to the holder thereof, as promptly as reasonably practicable following the satisfaction of the conditions set
forth in Sections 2.9 shares of Parent Consideration Stock to which such holder would be entitled in respect thereof under Sections 3.1 as if such shares never had been Dissenting Shares. The Company shall give Parent (i) prompt notice of any
demands for appraisal or purchase received by the Company, withdrawals of such demands, and any other instruments served pursuant to the DGCL and received by the Company and (ii) the right to direct all negotiations and proceedings with respect
to demands for appraisal or purchase under DGCL. The Company shall not, except with the prior written consent or at the written direction of Parent, or as otherwise required under the DGCL, voluntarily make any payment or offer to make any payment
with respect to, or settle or offer to settle, any claim or demand in respect of any Dissenting Shares. The payout of consideration under this Agreement to the Share Recipients shall not be affected by the exercise or potential exercise of appraisal
rights or dissenters’ rights under the DGCL by any other stockholder of the Company; the payout of consideration under this Agreement to holders of Dissenting Shares shall be treated as provided in this Section 3.6 and under the DGCL. 

 

	3.8	 Tax Consequences 

Notwithstanding any statement or inference to the contrary in any provision of this Agreement or any other agreement, neither Parent nor its
Affiliates shall be considered to have made any representations or warranties regarding the Tax treatment of the Transactions, or any of the Tax consequences to the Company or any stockholders of the Company of this Agreement or any other aspect of
the Transactions. The Company acknowledges that the Company and its stockholders are relying solely on their own Tax advisors in connection with this Agreement and the Transactions. 

 

	4.	 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company represents and warrants to the Parent Parties that the statements set forth in this Article 4 are true and correct as of the
Closing Date, except as set forth on the disclosure schedule delivered by the Company to the Parent Parties concurrently with the execution and delivery of this Agreement and dated as of the date of this Agreement (the “Disclosure
Schedule”), which exceptions shall be deemed part of the representations and warranties of the Company under this Article 4. The Disclosure Schedule is arranged in sections and paragraphs corresponding to the numbered and lettered
sections and paragraphs of this Article 4. Any information disclosed in one section of the Schedules shall be deemed to be disclosed as an exception to any other representations and warranties contained in this

  
 27 

 
Agreement to the extent that the disclosure is reasonably apparent on its face to be an exception to such other representations and warranties. For purposes of this Agreement, a document shall be
deemed to have been made available by the Company to Parent only if it has been posted in the Data Room in connection with the Transactions. 
  

	4.1	 Authority and Enforceability 

The Company has all necessary corporate power and authority to enter into this Agreement, to perform its obligations hereunder and to
consummate the transactions contemplated by this Agreement. The execution and delivery of this Agreement by the Company, the performance by the Company of its obligations hereunder, and the consummation by the Company of the transactions
contemplated by this Agreement, have been duly authorized by the board of directors of the Company, and no other corporate action on the part of the Company is necessary to authorize the execution and delivery of this Agreement by the Company, the
performance by the Company of its obligations hereunder or the consummation by the Company of the transactions contemplated by this Agreement, other than the approval of this Agreement by the Company’s stockholders. This Agreement has been duly
executed and delivered by the Company and (assuming due authorization, execution and delivery by the other Parties to this Agreement) constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its
terms, except as enforceability may be limited by or subject to (a) bankruptcy, insolvency, reorganization, moratorium and other similar Laws relating to or affecting creditors’ rights generally or (b) the effect of rules of Law and
general principles of equity, including those governing specific performance, injunctive relief and other equitable remedies (regardless of whether such enforceability is considered in a proceeding in equity or at Law). 

 

	4.2	 Due Incorporation; Subsidiaries 

 

	 	(a)	 The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the
State of Delaware and has all necessary corporate power and authority to conduct its business in the manner in which its business is currently being conducted. 

 

	 	(b)	 The Company is qualified to do business and is in good standing in each of the jurisdictions where the nature
of its business requires such qualification, license or authorization, except where failure to so qualify would have a Material Adverse Effect. 

  

	 	(c)	 All of the issued and outstanding shares of capital stock or other equity securities of the Company’s
Subsidiaries are listed on Part 4.2(c) of the Disclosure Schedule and are directly or indirectly owned by the Company, free and clear of all Encumbrances, other than Permitted Encumbrances. Except as set forth on Part 4.2(c) of the Disclosure
Schedule, each Subsidiary of the Company is validly existing and in good standing under the laws of its respective jurisdiction of formation, each of which is set forth on Part 4.2(c) of the Disclosure Schedule, and is qualified to do business in
each jurisdiction where the nature of its business requires such qualification. Each of the Subsidiaries listed on Part 4.2.(c) of the Disclosure Schedule has all requisite power and authority necessary to own and operate its assets and to carry on
its businesses as presently conducted. 

  
 28 

	 	(d)	 Each of Cell Medica Switzerland AG and Cell Medica GmbH (together, the “Dissolved
Subsidiaries”) are in the process of dissolution or liquidation in accordance with all applicable Law and there are no outstanding liabilities (other than such administrative costs and expenses associated with the process of dissolution or
liquidation) with respect thereto, including any expenses incurred in relation to any winding up or dissolution process. To the Knowledge of the Company, no decision of any of creditors has been received by the Dissolved Subsidiaries and no proposal
has been made for a moratorium, composition or arrangement in relation to any of their debts. 

  

	4.3	 Certificate of Incorporation and Bylaws 

The Company has delivered or made available to Parent true and correct copies of the Company Charter, Company bylaws and the organizational
documents for each of the Company’s Subsidiaries, in each case, including all amendments thereto, as in effect on the date hereof, which organizational documents are in full force and effect. 

 

	4.4	 Capitalization 

As of the date of this Agreement, the authorized capital of the Company consists of: 

 

	 	(a)	 52,205,289 shares of Company Preferred Stock, of which (i) 3,686,967 shares of Series A Preferred Stock are
issued and outstanding (ii) 6,993,007 shares of Series B Preferred Stock are issued and outstanding (iii) 18,873,216 shares of Series C Preferred Stock are issued and outstanding and (iii) 20,231,608 shares of Series
C-1 Preferred Stock are issued and outstanding. The rights, preferences, privileges and restrictions of the Company Preferred Stock are as stated in the Company Charter. 

 

	 	(b)	 65,000,000 shares of Company Common Stock, of which 2,800,046 shares are issued and outstanding.

  

	 	(c)	 Except for the conversion privileges of the Company Preferred Stock, (A) there are no other existing
options, warrants, calls, rights (including conversion rights, preemptive rights, co-sale rights, rights of first refusal or other similar rights) or agreements to which the Company, or to the Company’s
Knowledge, any holder of Company Capital Stock, is a party requiring, and there are no securities of the Company outstanding which upon conversion or exchange would require, the issuance, sale or transfer of any additional shares of capital stock or
other equity securities of the Company or other securities convertible into, exchangeable for or evidencing the right to subscribe for or purchase shares of Company Capital Stock or other equity securities of the Company, (B) there are no
obligations, contingent or otherwise, of the Company to (1) repurchase, redeem or otherwise acquire any shares of Company Capital Stock or (2) to make any material investment in (in the form of a loan, capital contribution or otherwise)
any Person and (C) there are no outstanding stock appreciation, phantom stock, profit participation or similar rights with respect to the Company. 

  

	 	(d)	 Except for those rights set forth in Part 4.4(d) of the Disclosure Schedule, there are no bonds, debentures,
notes or other Indebtedness of the Company having the right to vote or consent (or, convertible into, or exchangeable for, securities having the right to vote or consent) on any matters on which the Company Stockholders may vote. Except as set forth
in Part 4.4(d) of the Disclosure Schedule, there are no voting trusts, 

  
 29 

	 	
irrevocable proxies or other contracts or understandings to which the Company or, to the Company’s Knowledge, any Company Stockholder is a party or is bound with respect to the voting or
consent of any shares of Company Capital Stock. 

  

	 	(e)	 All of the outstanding shares of Company Capital Stock have been duly authorized and validly issued and are
fully paid and non-assessable and have been issued and granted in all material respects in compliance with all applicable securities Laws. Except as set forth in Part 4.4(e) of the Disclosure Schedule, each
share of Company Preferred Stock is convertible into one share of Company Common Stock. 

  

	4.5	 Non-Contravention; Consents 

 

	 	(a)	 With respect to clauses (b) and (c) only, except for violations and defaults that would not have a
Material Adverse Effect, the execution and delivery of this Agreement by the Company and the consummation by the Company of the transactions contemplated by this Agreement will not cause a: (a) violation of any of the provisions of the Company
Charter or bylaws of the Company; (b) violation by any Group Company of any Law applicable to the Group; or (c) default (or an event that, with or without notice or lapse of time or both would constitute a default) on the part of any Group
Company under, or give to others any rights of termination, acceleration or cancellation of, or result in the creation of an Encumbrance on any of the properties or assets of the Group (other than a Permitted Encumbrance) pursuant to, any Material
Contract. 

  

	 	(b)	 No consent of, or registration, declaration, notice or filing with, any Governmental Authority is required to
be obtained or made by the Company in connection with the execution, delivery and performance of this Agreement and the Lock-Up Agreements to which the Company is or will be a party or the consummation of the
transactions contemplated hereby or thereby, other than the filing of the Certificate of Merger or other documents with the Secretary of State of the State of Delaware. 

 

	4.6	 Financial Statements 

 

	 	(a)	 The Company has delivered or otherwise made available to Parent or its counsel the Company’s and its
Subsidiaries’ unaudited balance sheets of the Company and its Subsidiaries as of December 31, 2020 and 2019 (the most recent of which, the “Unaudited Balance Sheet”) and the related unaudited statements of income for each
of the fiscal years then ended (together, the “Company Financial Statements”). The Company Financial Statements were prepared in accordance with GAAP, consistently applied and fairly present in all material respects the
financial condition of the Company and its Subsidiaries at the dates therein indicated and the results of operations of the Company and its Subsidiaries for the periods therein specified in accordance with GAAP. The Company Financial Statements
comply with all requirements of applicable Laws and, except as set forth therein, are not affected by any extraordinary, exceptional or non-recurring items. 

 

	 	(b)	 Except as set forth in Part 4.6(b) of the Disclosure Schedule, the Company Financial Statements give a true and
fair view of the state of affairs of each Group Company as of the date therein and of the profit and loss of each Group Company for the financial year ended on such date. 

  
 30 

	4.7	 Books and Records 

The books of account, minute books, stock record books and other records of each Group Company, all of which have been made available to
Parent, are accurate and complete in all material respects and represent actual, bona fide transactions. 
  

	4.8	 [Reserved] 

  

	4.9	 Bank Accounts 

Part 4.7 of the Disclosure Schedule sets forth an accurate and complete list of the names and addresses of all banks and financial institutions
in which the Group has an account, deposit, safe-deposit box, line of credit or other loan facility or relationship, or lock box or other arrangement for the collection of accounts receivable, with the names of all Persons authorized to draw or
borrow thereon or to obtain access thereto. 
  

	4.10	 Absence of Certain Changes. 

Except as expressly contemplated by this Agreement, between the date of the Unaudited Balance Sheet and the date of this Agreement, there has
not occurred: any event or series of related events that has had or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 
  

	4.11	 Title to Assets. 

The Group has good and valid title to all assets owned by them as of the date of this Agreement, other than Intellectual Property which is
governed exclusively by Section 4.13, including all assets (other than capitalized or operating leases) reflected on the Unaudited Balance Sheet (except for assets sold or otherwise disposed of since the date of the Unaudited Balance Sheet in
the ordinary course of business). All such assets are owned by the Group free and clear of any Encumbrances (other than Permitted Encumbrances). 
  

	4.12	 Real Property; Leasehold. 

The Group does not own any real property, and the Group does not own any interest in real property, except for the leaseholds created under the
real property leases identified in Part 4.12 of the Disclosure Schedule (the “Leased Real Property”). The Group is in material compliance with such real property leases and have a valid and subsisting leasehold interest in all
Leased Real Property, in each case free and clear of all Encumbrances, other than Permitted Encumbrances. The Group has not granted any other Person the right to occupy or use any Leased Real Property. There are no written or oral subleases,
licenses, concessions, occupancy agreements or other contracts granting to any other Person the right of use or occupancy of any Leased Real Property. The Group has not received written notice of (a) default, or intention to terminate or not
renew, any real property lease or (b) any eminent domain, condemnation or similar proceeding pending or threatened, against all or any portion of any Leased Real Property. 

  
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	4.13	 Intellectual Property 

 

	 	(a)	 Part 4.13(a) of the Disclosure Schedule identifies: (A) each item of registered Intellectual Property in
which the Group has or purports to have an ownership interest of any nature (whether exclusively, jointly with another Person, as a licensee or otherwise); (B) the jurisdiction in which such item of Registered IP has been registered or filed and the
applicable registration or serial number; (C) any other Person that has an ownership interest in such item of Registered IP and the nature of such ownership interest; (D) to the Company’s Knowledge, the names of each and every
inventor of each Registered IP; and (E) each filing, payment, and action that, to the Company’s Knowledge, must be made or taken on or before the date that is 120 days after the date of this Agreement in order to maintain each such item of
Registered IP that is listed or required to be listed on Part 4.13(a) of the Disclosure Schedule, and for which the Group Company is responsible. In each case where a Group Company has acquired ownership of Registered IP from any other Person, such
Group Company has obtained a valid and enforceable assignment sufficient to irrevocably transfer all rights, title and interest in such Registered IP to the Group Company, and the Group Company has recorded each such assignment with the applicable
Governmental Authority. As of the date of this Agreement, no Registered IP that is listed or required to be listed on Part 4.13(a) of the Disclosure Schedule is or has been involved in any interference, opposition, reissue, reexamination,
revocation, or equivalent proceeding, in which the scope, validity or enforceability of any such Registered IP is being or has been contested or challenged, and to the Company’s Knowledge, no such proceeding has been threatened with respect to
any such Registered IP. 

  

	 	(b)	 To the Company’s Knowledge, Group has good, valid, unexpired and enforceable title (free and clear of all
Encumbrances other than Permitted Encumbrances) or otherwise possess adequate rights to use to all of the Intellectual Property necessary to enable operation of its business as now being conducted. To the Company’s Knowledge, there is no
Intellectual Property owned by any third party that (i) is valid and enforceable, (ii) is required by the Group to conduct its business as currently conducted and (iii) the Company is not currently authorized to use.

  

	 	(c)	 To the Company’s Knowledge, the Group’s conduct of business as currently conducted and as currently
proposed to be conducted by the Group, has not infringed or misappropriated upon any Intellectual Property rights of any other Person. Since January 1, 2021, no Person has asserted any written claim (or to the Company’s Knowledge, any oral
claim) (i) challenging or questioning the Group’s right, interest or title in any of the Intellectual Property or (ii) alleging infringement or misappropriation of any Intellectual Property by the Group. None of the Intellectual
Property is subject to any pending or outstanding injunction, directive, order, judgment, or other disposition of dispute that adversely restricts the use, transfer, registration or licensing of any such Intellectual Property by the Company, or
otherwise adversely affects the validity, scope, use, registrability, or enforceability of any Intellectual Property. 

  

	 	(d)	 To the Company’s Knowledge, since January 1, 2021 no Person has infringed or misappropriated, and no
Person is currently infringing or misappropriating any Intellectual Property. 

  
 32 

	 	(e)	 Part 4.13(e) of the Disclosure Schedule identifies each material contract pursuant to which any Intellectual
Property is licensed, sold, assigned, or otherwise conveyed or provided to the Company (other than (i) agreements between the Company and its employees and consultants, (ii) non-disclosure
agreements, material transfer agreements, or clinical trial agreements entered into in the ordinary course of business consistent with past practice, (iii) licenses entered into in the ordinary course of business consistent with past practice
in connection with the manufacture of capital equipment, and (iv) non-exclusive licenses to commercially available third-party software) (“Inbound Licenses”). Except with respect to the
agreements listed in Part 4.13(e) of the Disclosure Schedule, the Group is not obligated under any contract or other agreement to make any payments by way of royalties, fees, or otherwise to any owner or licensor of, or other claimant to, any
Intellectual Property. 

  

	 	(f)	 Part 4.13(f) of the Disclosure Schedule lists each outbound license of Intellectual Property, other than any non-disclosure, material transfer agreements or clinical trial agreements entered into in the ordinary course of business consistent with past practice or other non-exclusive
licenses entered into in the ordinary course of business consistent with past practice (“Outbound Licenses”). 

  

	 	(g)	 The Group has taken reasonable security measures, including measures against unauthorized disclosure, to
protect the secrecy, confidentiality, and value of its trade secrets and other technical information. 

  

	 	(h)	 To the Company’s Knowledge, all current and former employees, contractors, and consultants of the Group
who have been involved in the development of Intellectual Property have executed agreements regarding the assignment to the Company of all inventions and Intellectual Property rights (an “IP Agreement”). To the Company’s
Knowledge, the Group has secured written assignments from all present and former employees, contractors, and consultants who contributed to the creation or development of any Intellectual Property, of the rights to such contributions that may be
owned by such Persons or that the Group does not already own by operation of law. To the Company’s Knowledge, no employee, officer, director, consultant or advisor of the Group (i) has any right, license, and claim or interest whatsoever
in or with respect to any Intellectual Property, or (ii) is in material violation of any IP Agreement. 

  

	 	(i)	 Except as set forth on Part 4.13(i) of the Disclosure Schedule, no Governmental Authority or academic
institution has any right to, ownership of, or right to royalties for any Intellectual Property. 

  

	 	(j)	 The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
(alone or in combination with any other event), and the compliance with the provisions of this Agreement do not and will not conflict with, alter, or impair, any of the rights of the Group in any Intellectual Property or the validity,
enforceability, use, right to use, ownership, priority, duration, scope, or effectiveness of any Intellectual Property. 

  
 33 

	4.14	 Data Protection 

  

	 	(a)	 Each Group Company, and the conduct of each Group Company’s business, complies, and has at all applicable
times complied, with all applicable Privacy Laws in all material respects. With respect to its processing of personal data, and/or any processing carried out on its behalf or otherwise under its express or implicit authorization, each Group Company
complies, and has complied at all applicable times and in all material respects, with: (i) all relevant, then-current Privacy Policies; and (ii) all contractual commitments relating to processing personal data that it has entered into.

  

	 	(b)	 No Group Company has transferred or otherwise made available any personal data to any Person located outside
the European Economic Area otherwise than in accordance with the requirements of applicable Privacy Laws relating to such cross-border transfer of personal data. 

 

	 	(c)	 Each Group Company uses, and has used commercially reasonable efforts, taking into account reasonable industry
practices, to mitigate against any risks of a personal data breach. To the Knowledge of the Company, there has been no loss, damage, or unauthorized access, use, modification, or other misuse or unlawful processing of any personal data processed or
otherwise controlled by any Group Company. 

  

	 	(d)	 No Group Company has received any claim, notice, letter, written complaint or notification of a request for
assessment or other written communication from any Person alleging breach by any Group Company of any Privacy Laws or requesting an audit of the Group’s or any Company processor’s premises, systems or facilities. No individual has been
awarded, or otherwise received, compensation by or from any Group Company (whether pursuant to court Proceedings or not) under any Privacy Laws, no claim for such compensation is outstanding. 

 

	4.15	 Regulatory Matters 

  

	 	(a)	 The Group is in compliance in all material respects with all Laws, and the terms of any applicable approvals,
clearances, authorizations, licenses and registrations required by any Governmental Authority, in each case regarding (i) the registration, license or certification for each site at which any product of the Group is manufactured, labeled, sold,
or distributed and (ii) the design, development, manufacture, labeling, sale, distribution and promotion of any product of the Group in jurisdictions where the Group currently conducts such activities. 

 

	 	(b)	 The Group has not received any notice or other communication from any Governmental Authority
(i) contesting the clearance or approval of, the uses of or sale of any product of the Group or (ii) otherwise alleging any violation of any Laws by the Group with respect to any product of the Group. 

 

	 	(c)	 All filings with and submissions to any Governmental Authority made by the Group with regard to any product of
the Group, whether oral, written or electronically delivered, were true, accurate and complete in all respects as of the date made, and, have been updated to the extent required to be updated. 

  
 34 

	 	(d)	 The Company will be its own Ultimate Parent Entity as that term is defined in 16 C.F.R. 801.1 as of closing,
and (i) the total assets of the Company stated on its last regularly prepared balance sheet prior to the Closing, prepared in accordance with 16 C.F.R. 801.11, will be less than $18,400,000 at the time of the Closing and (ii) the Company
is not engaged in manufacturing as that term is defined in 16 C.F.R. 801.1. 

  

	4.16	 Material Contracts 

  

	 	(a)	 Part 4.16(a) of the Disclosure Schedule lists each contract (other than purchase orders) in effect as of the
date of this Agreement and to which any Group Company is a party or by which any of its properties or assets are otherwise bound that meets the following criteria (the “Material Contracts”): 

 

	 	(i)	 any contract (or group of related contracts) that requires pursuant to its terms, future payments by or to the
Group in excess of $[***] in any calendar year, including any contract (or group of related contracts) for the purchase or sale of real property, raw materials, goods, commodities, utilities, equipment, supplies, products or other personal property,
or for the provision or receipt of services; 

  

	 	(ii)	 (A) any contract relating to the acquisition or disposition by the Group of any operating business, a material
amount of stock or material amount of assets of any other Person under which the Group has any executory covenants or indemnification obligations or rights (including put or call options); or (B) any contract under which the Group has any
indemnification or other obligations, other than any such contracts entered into in the ordinary course of business consistent with past practice (including, without limitation, clinical trial agreements, service agreements and research and
development agreements with universities and other academic institutions); 

  

	 	(iii)	 (A) any guaranty, surety or performance bond or letter of credit issued or posted, as applicable, by the Group;
(B) any contract evidencing Indebtedness of the Group or providing for the creation of or granting any Encumbrance upon any of the property or assets of the Group (excluding Permitted Encumbrances); (C) any contract (1) relating to
any loan or advance by the Company to any Person which is outstanding as of the date of the Agreement (other than immaterial advances to employees and consultants in the ordinary course of business consistent with past practices) or
(2) obligating or committing the Company to make any such loans or advances; and (D) any currency, commodity or other hedging or swap contract; 

  

	 	(iv)	 (A) any contract creating or purporting to create any partnership or joint venture or any sharing of profits or
losses by the Group with any third party; or (B) any contract that provides for “earn-outs” or similar material contingent payments by or to the Group; 

 

	 	(v)	 any contract under which any Governmental Authority has any material rights; 

 

	 	(vi)	 except for nondisclosure agreements entered into in the ordinary course of business or in connection with this
Agreement or the transactions 

  
 35 

	 	
contemplated hereby, (A) any contract containing covenants restricting competition which have the effect of prohibiting the Group or, after the Closing, Parent or the Surviving Corporation
from engaging in any business or activity in any geographic area or other jurisdiction; (B) any contract in which the Group has granted “exclusivity” with respect to a particular territory or a particular product or service of the
Group or that requires the Group to deal exclusively with, or grant exclusive rights or rights of first refusal to, any customer, vendor, supplier, distributor, contractor or other Person; (C) any contract that includes minimum purchase
conditions or other requirements, in either case that exceed $[***] in any calendar year to the extent the contract is not terminable without penalty on 90 days’ or shorter notice; provided, however that penalty shall not include
requirements to pay costs and expenses in connection with the termination of such agreements consisting of reimbursement of expenses incurred and reasonable wind-down costs; or (D) any contract containing a “most-favored-nation”,
“best pricing” or other similar term or provision by which another party to such contract or any other Person is, or would become, entitled to any benefit, right or privilege which, under the terms of such contract, must be at least as
favorable to such party as those offered to another Person; 

  

	 	(vii)	 any contract involving a sales agent, representative, distributor, reseller, middleman, marketer, broker,
franchisor or similar Person who is entitled to receive commissions, fees or markups related to the provision or resale of goods or services of the Group; 

  

	 	(viii)	 any contract involving commitments to make capital expenditures or to contract, purchase or sell assets
involving $[***] or more individually; 

  

	 	(ix)	 any lease, sublease, rental or occupancy agreement, license, installment, and conditional sale agreement or
agreement under which any Group Company is lessee or lessor of, or owns, uses or operates any leasehold or other interest in any real or personal property; 

  

	 	(x)	 any Inbound License and any Outbound License; 

 

	 	(xi)	 provides for severance or termination pay to any current directors, officers, employees, or consultants or
other independent contractors of a Group Company, or an ongoing severance or termination pay obligation to any former directors, officers, employees, or consultants or other independent contractors of the Company; 

 

	 	(xii)	 any power of attorney granted by any Group Company that is currently in effect; 

 

	 	(xiii)	 was entered into other than in the ordinary course of business; and 

 

	 	(xiv)	 any contract not otherwise listed or required to be listed in Part 4.16(a) of the Disclosure Schedule that, if
terminated would, individually or in the aggregate, be material to the Company. 

  
 36 

	 	(b)	 With respect to each Material Contract listed in Part 4.16(a) of the Disclosure Schedule: (i) such
Material Contract is, to the Company’s Knowledge, with respect to each party thereto other than any Group Company, binding and enforceable against such party in accordance with its terms, subject to (A) laws of general application relating
to bankruptcy, insolvency and the relief of debtors, and (B) rules of Law governing specific performance, injunctive relief and other equitable remedies; and (ii) the applicable Group Company is not in material breach or material default
of such Material Contract or, with the giving of notice or the giving of notice and passage of time without a cure would be, in breach or default of such Material Contract, and to the Company’s Knowledge no other party to such Material Contract
is in breach or default of such Material Contract. The Company has delivered or otherwise made available to Parent or its counsel a true and complete copy of each such Material Contract. 

 

	 	(c)	 To the Company’s Knowledge, no director, agent, employee or consultant or other independent contractor of
the Company is a party to, or is otherwise bound by, any Contract, including any confidentiality, noncompetition or proprietary rights agreement, with any other Person that in any way adversely affects or could adversely affect (i) his or her
ability to assign to the Company rights to any invention, improvement, discovery or information relating to the businesses of the Company, or (ii) to the extent applicable, his or her ability to enter into
non-competition agreements with Parent, or that in any way materially adversely affects or could materially adversely affect (x) the performance of his or her duties for the Company, or (y) the
ability of the Company to conduct its business as currently conducted. 

  

	4.17	 Liabilities 

As of the date of this Agreement, the Group has no material liabilities other than: (a) those set forth, provided for or reserved against
in the Unaudited Balance Sheet; (b) those incurred in the ordinary course of business since the date of the Unaudited Balance Sheet; (c) those incurred pursuant to or in connection with the execution, delivery or performance of this
Agreement or the transactions contemplated hereby; and (d) those which, individually or in the aggregate, would not be material to the Company. 
  

	4.18	 Compliance with Laws 

 

	 	(a)	 The Group is in material compliance with, and during the past three years have been in material compliance
with, applicable Laws, and is not subject to any pending or, to the Knowledge of the Company, threatened claim that alleges a breach of any of the foregoing or inquiry by any Governmental Authority regarding the foregoing. During the past three
years no Group Company has received any written notices of any violation with respect to such Laws. The Company is in material compliance with all data security requirements and, to the Company’s Knowledge, there have not been any actual or
alleged incidents of data security breaches, unauthorized access or use of any of the business systems or business product data, or unauthorized acquisition, destruction, damage, disclosure, loss, corruption, alteration, or use of any business
product data, or other notices received relating to data security requirements. 

  

	 	(b)	 The Company holds all material permits, approvals, registrations, franchises, licenses, certificates,
accreditations and other authorizations of all Government Authorities 

  
 37 

	 	
(collectively, “Permits”) required for the conduct of its business as presently conducted. As of the date hereof, no written notices have been received by the Company from any
Governmental Authority alleging the failure to hold any Permit required for the conduct of the Company’s business as presently conducted. The Company is currently in compliance in all material respects with the terms and conditions of the
Permits which it holds required for the conduct of its business. 

  

	4.19	 Anti-Corruption Compliance 

Each of the Company, and to the Company’s Knowledge, the Company’s employees or other representatives (a) has not used and is
not using any funds for any unlawful contributions, unlawful gifts, unlawful entertainment or other unlawful expenses; (b) has not made any direct or indirect unlawful payments to any foreign or domestic government official;
(c) has not violated and is not violating any anti-corruption Law; (d) has not established or maintained, and is not maintaining, any unlawful or unrecorded fund of monies or other properties; (e) has not made, and is not making, any
false or fictitious entries on its accounting books and records; (f) has not made, and is not making, any bribe, rebate, payoff, influence payment, kickback or other unlawful payment of any nature, and has not paid, and is not paying, any fee,
commission or other payment that has not been properly recorded on its accounting books and records as required by the anti-corruption Law; and (g) has not otherwise given or received anything of value to or from a government official, an
intermediary for payment to any individual including government officials, any political party or customer for the purpose of obtaining or retaining business. 
  

	4.20	 Tax Matters 

  

	 	(a)	 Each Group Company has timely filed all Tax Returns that it was required to file under applicable Laws. All
such Tax Returns were correct and complete in all material respects. All Taxes due and owing by the Group (whether or not shown on any Tax Return) have been paid. There are no Encumbrances for Taxes upon any of the assets of the Group other than
Permitted Encumbrances. No Group Company is, and has not at any time in within the last six years been, liable to pay any interest, penalty or surcharge in respect of any unpaid Taxes or as a result of a default in respect of any Tax matter or has
otherwise been subject to the operation of any penal provision any enactment relating to Tax. 

  

	 	(b)	 The unpaid Taxes of the Group (i) did not, as of the date of the Unaudited Balance Sheet, exceed the
reserve for Tax liability (excluding any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the Unaudited Balance Sheet (rather than in any notes thereto), and (ii) do not
exceed that reserve as adjusted for the passage of time through the Closing Date. The Group has no Liability for Taxes accruing after the date of the Unaudited Balance Sheet except for Taxes arising in the ordinary course of business.

  

	 	(c)	 No audit or other examination of any Tax Return of any Group Company is presently in progress, nor has any
Group Company been notified in writing of any request for such an audit or other examination. There is no unresolved Tax deficiency outstanding, assessed or proposed against any Group Company. The Group has never received a written claim from any
Governmental Authority in a jurisdiction in which the Group does 

  
 38 

	 	
not file Tax Returns that the Group is or may be subject to taxation by that jurisdiction. There are no matters under discussion with any Governmental Authority with respect to Taxes that may
result in any additional liability for Taxes with respect to the Group. No Group Company has waived any statute of limitations in respect of Taxes or agreed to any extension of time with respect to a Tax assessment or deficiency, which waiver or
extension is still in effect. 

  

	 	(d)	 Each Group Company has (i) complied with all laws relating to the payment, reporting and withholding of
Taxes (including, without limitation, withholding of Taxes pursuant to Sections 1441, 1442, 1445, 1446, 1471, 1472 and 3406 of the Code or similar provisions under any state, local or foreign Law), (ii) collected or withheld (within the time and in
the manner prescribed by Law) from any amounts paid or owing to any Employee, customer, creditor, stockholder or other third party and paid over to the proper Tax authority all amounts required to be so collected or withheld and paid over under Law,
including federal and state income Taxes, Federal Insurance Contribution Act, Medicare, Federal Unemployment Tax Act, relevant state income and employment Tax withholding Laws, (iii) timely filed all withholding and information Tax Returns
(including IRS Forms W-2, 1099 and 1042), and (iv) maintained all required records with respect thereto, for all periods through and including the Closing Date. 

 

	 	(e)	 The Group has no property or obligation, including uncashed checks to vendors, customers or Employees, non-refunded overpayments, credits or unclaimed amounts or intangibles, that is currently escheatable or reportable as unclaimed property to any Governmental Authority under any applicable escheatment, unclaimed
property or similar Laws. 

  

	 	(f)	 Each Group Company has collected, remitted and reported to the appropriate Governmental Authority all sales,
use and value added Taxes required to be so collected, remitted or reported pursuant to all applicable Laws. Each Group Company has complied with all applicable Laws relating to record retention for Tax purposes (including, without limitation, to
the extent necessary to claim any exemption from sales Tax or VAT collection and maintaining adequate and current resale certificates to support any such claimed exemption). 

 

	 	(g)	 Each Group Company (i) is, where it ought to have been so registered, a duly registered taxable person for
the purposes of VAT (or other equivalent sales or similar Tax), (ii) is not, nor has in the last three years been, wholly or partly exempt for such purposes, and (iii) is not, has not ever been and has not applied for treatment as, a member of
a VAT group. 

  

	 	(h)	 To the Company’s Knowledge, there is no share of Company Capital Stock that was issued in connection with
the performance of services and subject to vesting for which no valid and timely election was filed pursuant to Section 83(b) of the Code. 

  

	 	(i)	 Each of the participants in the Company’s transaction incentive plan effective July 15, 2020 is
resident for Tax purposes solely in the United States and is not liable to Tax in any other jurisdiction, other than Thomas Hecht who is resident for Tax purposes solely in Switzerland and is not liable to Tax in any other jurisdiction.

  
 39 

	 	(j)	 No Group Company is or has ever been a close company for the purposes of the UK Corporation Tax Act 2010.

  

	 	(k)	 No person has acquired a right to acquire shares or securities, or has acquired any shares or securities, which
in either case may give rise to a liability in respect of income tax or National Insurance contributions (or other payroll or social security Taxes) on the Company upon the exercise or disposal of that right or upon the acquisition or disposal of
those shares or securities. 

  

	 	(l)	 No Group Company has ever been a United States real property holding corporation within the meaning of
Section 897(c)(2) of the Code during the applicable period specified in Section 897(c)(1)(A)(ii) of the Code. 

  

	 	(m)	 No Group Company has constituted either a “distributing corporation” or a “controlled
corporation” in a distribution of stock intended to qualify for tax-free treatment under Section 355 of the Code. No Group Company participated in, nor is any Group Company currently participating
in, any transaction which was or is a “listed transaction” as defined in Section 6707A(c) of the Code or the Treasury Regulations promulgated thereunder. The Company has disclosed on its Tax Returns any Tax reporting position taken in
any Tax Return that reasonably would be expected to result in the imposition of penalties under Section 6662 of the Code or any comparable provisions of state, local or foreign Law. 

 

	 	(n)	 No Group Company will be required to include any item of income in, or exclude any item of deduction from,
taxable income for any Tax period (or portion thereof) ending after the Closing as a result of any: (i) any change in method of accounting, or use of an improper method of accounting, for a taxable period ending on or prior to the Closing Date,
(ii) any “closing agreement” described in Section 7121 of the Code (or any corresponding or similar provision of state, local, or foreign tax Law) executed on or prior to the Closing Date, (iii) any intercompany transactions
(including any intercompany transaction subject to Section 367 or 482 of the Code) or any excess loss account described in Treasury Regulations under Section 1502 of the Code (or any corresponding or similar provision of state, local, or
foreign tax Law) with respect to a transaction occurring on or prior to the Closing Date, (iv) any installment sale or open transaction disposition made on or prior to the Closing Date, (v) any election under Section 108(i) of the
Code made on or prior to the Closing Date, (vi) any prepaid amount received or deferred revenue accrued on or prior to the Closing Date or (vii) solely with respect to amounts received or accrued on or prior to the Closing Date, Sections
951, 951A or 965 of the Code. 

  

	 	(o)	 No Group Company will be required to include any adjustment in taxable income for any Pre-Closing Tax Period pursuant to Section 481 or 263A of the Code or any comparable provision under state, local or foreign Tax laws as a result of transactions, events or accounting methods employed prior to
the Merger. 

  

	 	(p)	 The Company has delivered or made available to Parent complete and accurate copies of the Tax Returns set forth
on Part 4.20(p) of the Disclosure Schedule, and complete and accurate copies of all audit or examination reports and statements of deficiencies assessed against the Company. 

  
 40 

	 	(q)	 The Group is not a party to any agreement with any third party relating to allocating or sharing the payment
of, or liability for, Taxes (other than this Agreement and any contract, such as a loan or a lease, entered into in the ordinary course of business the primary purpose of which is unrelated to Taxes). 

 

	 	(r)	 No Group Company has been a member of an affiliated group filing a U.S. federal income Tax Return (other than a
group the common parent of which was the Company). The Group does not have any liability for the Taxes of any other Person (other than the Company or any of its Subsidiaries) (i) under Treasury Regulation
Section 1.1502-6 (or any similar provision of state, local, or foreign Law); (ii) as a transferee or successor; or (iii) otherwise by operation of law. No Group Company has ever been a party to any
joint venture, partnership or other contract or arrangement that reasonably would be expected to be treated as a partnership for income Tax purposes. 

  

	 	(s)	 Part 4.20(s) of the Disclosure Schedule sets for the U.S. tax classification of each Group Company. The Company
uses the accrual method of accounting for income Tax purposes. 

  

	 	(t)	 Part 4.20(t) of the Disclosure Schedule sets forth, as of the date hereof, the amount of any “applicable
employment taxes” under Section 2302 of the CARES Act the payment of which has been deferred, extended or delayed by the Company and its Subsidiaries pursuant to the CARES Act and any other payments of or in respect of taxation which have
been deferred by any Group Company under any other corresponding or similar provision of state, local, or foreign tax Law, including arrangements announced in connection with the COVID-19 pandemic. The Group
has (i) to the extent applicable, properly complied with all requirements of applicable Laws in order to defer the amount of the employer’s share of any “applicable employment taxes” under Section 2302 of the CARES Act,
(ii) to the extent applicable, properly complied with all requirements of applicable Laws and duly accounted for any available Tax credits under Sections 7001 through 7005 of the Families First Act and Section 2301 of the CARES Act, to the
extent applied for, (iii) not deferred any payroll tax obligations pursuant to or in connection with the Payroll Tax Executive Order, and (iv) not received (nor has any Affiliate that would be aggregated with the Company and treated as one
employer for purposes of Section 2301 of the CARES Act received) a covered loan under paragraph (36) of Section 7(a) of the Small Business Act (15 U.S.C. 636(a)), as added by Section 1102 of the CARES Act. Except pursuant to
Section 2302 of the CARES Act, the Company has not availed itself of any Tax relief pursuant to any Pandemic Response Laws that could reasonably be expected to impact the Tax payment and/or reporting obligations of the Company after the Closing
Date. 

  

	 	(u)	 No Group Company has been involved in or a party to any scheme, arrangement, transaction or series of
transactions either (i) the main purpose, or one of the main purposes of which was or might be held to have been the avoidance of Tax on the part of a Group Company; (ii) that produced a loss for Tax purposes with no corresponding
commercial loss, or (iii) containing one or more steps which have no commercial purpose other than avoiding Tax. 

  
 41 

	 	(v)	 There is no instrument to which a Group Company is a party and which is necessary to establish a Group
Company’s rights or title to any asset, which is or could be liable to stamp duty (or any similar duty or Tax in a jurisdiction outside the United Kingdom) which has not been duly stamped or in respect of which the relevant duty or Tax has not
been paid. 

  

	 	(w)	 Part 4.20(w) of the Disclosure Schedule sets out full details of all R&D Claims made by each Group Company.
All such claims have been duly made on a proper basis within applicable time limits, and HM Revenue & Customs have not disputed or challenged and, to the Company’s Knowledge, are not likely to dispute or challenge the relevant Group
Company’s entitlement to make any such claim and/or the amount of any such claim. Any expenditure by the relevant Group Company which has been included in such R&D Claim or to which such R&D Claim relates qualifies for relief under one
or more of Chapters 2 to 4 of Part 13 CTA 2009. 

  

	4.21	 Employee Benefit Plans and Employee Matters 

 

	 	(a)	 Part 4.21(a) of the Disclosure Schedule sets forth a list of all material employee benefit plans, programs and
arrangements (including any material “employee benefit plan” as defined in Section 3(3) of ERISA) maintained or contributed to by the Group or any entity with which the Group is or would be considered a single employer under
Section 414(b), (c) or (m) of the Code (“ERISA Affiliates”) or with respect to which the Group or any ERISA Affiliate would reasonably be expected to have any material liability (the “Company Plans”).

  

	 	(b)	 With respect to each Company Plan, the Company has delivered or otherwise made available to Parent or its
counsel a true, correct and complete copy of: (i) each writing constituting a part of any written Company Plan and all amendments thereto, and all trusts or service agreements relating to the administration and recordkeeping of the Company
Plan, and written summaries of the material terms of all unwritten Company Plans; (ii) the three most recent Annual Reports (Form 5500 Series or otherwise in a form in accordance with applicable Law) including all applicable schedules, if any,
for each Company Plan that is subject to such reporting requirements; (iii) the current summary plan description and any material modifications thereto, if any, or any written summary provided to participants with respect to any plan for which
no summary plan description exists; (iv) the most recent determination letter (or if applicable, advisory or opinion letter) from the IRS, if any, and any pending applications for a determination or opinion letter; and (v) all material
written correspondence given to such Company Plan, the Group or any ERISA Affiliate by the IRS, Department of Labor, Pension Benefit Guarantee Corporation, or other Governmental Authority (including any foreign Governmental Authority responsible for
the regulation of such Company Plan) during the three years preceding the date of this Agreement relating to such Company Plan or provided to any such entity by the Company Plan, the Group or an ERISA Affiliate during the three years preceding the
date of this Agreement with respect to such Company Plan. 

  

	 	(c)	 In all material respects, each Company Plan has been established and maintained in accordance with its terms
and in compliance with all applicable Laws, including but not limited to ERISA or the Code. The Group does not sponsor any Company Plan 

  
 42 

	 	
intended to be qualified under Section 401(a) of the Code or any trust intended to qualify under Section 501(a) of the Code. No “prohibited transaction,” within the meaning of
Section 4975 of the Code or Sections 406 and 407 of ERISA, and not otherwise exempt under Section 408 of ERISA, has occurred with respect to any Company Plan that would reasonably be expected to result in any material liability. There are
no current actions, suits or claims pending, or, to the Company’s Knowledge, threatened in writing (other than routine claims for benefits) against any Company Plan or against the assets of any Company Plan. There are no material audits,
inquiries or proceedings pending or, to the Company’s Knowledge, threatened in writing by any Governmental Authority with respect to any Company Plan. Neither the Group nor any ERISA Affiliate is subject to any penalty or Tax with respect to
any Company Plan under Section 502(i) of ERISA or Sections 4975 through 4980 of the Code. The Group and each ERISA Affiliate have timely made or otherwise provided for all contributions and other payments required by and due under the terms of
each Company Plan. Each Company Plan can be amended, terminated or otherwise discontinued after the Effective Time in accordance with its terms, without liability to Parent, the Group or any ERISA Affiliate (other than ordinary administration
expenses). 

  

	 	(d)	 Except as set forth in Part 4.21(d) of the Disclosure Schedule, no payment or benefit which will or may be made
by the Group with respect to any “disqualified individual” (as defined in Code Section 280G and the regulations thereunder) will be characterized as a parachute payment within the meaning of Code Section 280G(b)(2). There is no
contract, agreement, plan or arrangement to which the Group or any ERISA Affiliates is bound to provide a gross-up or otherwise reimburse any employee for excise taxes paid pursuant to Section 4999 of the
Code. The execution and delivery of this Agreement and the consummation of the Merger will not materially increase the benefits payable under any Company Plan and will not result in any acceleration of the time of payment or vesting of any material
benefits under any Company Plan. 

  

	 	(e)	 Neither the Group nor any ERISA Affiliate has or has ever sponsored, contributed to, or had any obligations or
incurred any liability under any employee benefit plan that is subject to Title IV of ERISA or Section 412 of the Code (including any “defined benefit plan” within the meaning of Section 3(35) of ERISA), or to a
“multiemployer plan” within the meaning of Section 3(37) of ERISA. 

  

	 	(f)	 No Company Plan provides, reflects or represents any liability on behalf of the Group to provide
post-termination: payments (whether of severance pay, change of control or otherwise), equity acceleration, forgiveness of indebtedness, vesting, retiree benefits, increase in benefits or obligation to fund benefits, with respect to any employee,
except as may be required by the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) or other applicable Law. 

  

	 	(g)	 Each Company Plan, employment agreement, or other compensation arrangement of the Group that constitutes a
“nonqualified deferred compensation plan” subject to Section 409A of the Code has been written, executed, and operated in compliance with Section 409A of the Code and the regulations thereunder. The Group does not have any
obligation to gross-up or otherwise reimburse any person for any tax incurred by such person pursuant to Section 409A or Section 280G of the Code. 

  
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	 	(h)	 The Group: (i) is and at all times has been in material compliance with all applicable Laws, and with any
order, ruling, decree, judgment or arbitration award of any arbitrator or any court or other Governmental Authority, respecting employment, employment practices, terms and conditions of employment, wages, hours or other labor-related matters,
including Laws, orders, rulings, decrees, judgments and awards relating to discrimination, worker classification (including the proper classification of workers as independent contractors and consultants), wages and hours, labor relations, leave of
absence requirements, occupational health and safety, privacy, harassment, retaliation, immigration, wrongful discharge or violation of the personal rights of employees, former employees or prospective employees; (ii) has withheld and reported
all amounts required by any Law or contract to be withheld and reported with respect to wages, salaries and other payments to any employee; and (iii) has no liability for any payment to any trust or other fund governed by or maintained by or on
behalf of any Governmental Authority with respect to unemployment compensation benefits, social security or other benefits or obligations for any employee (other than routine payments to be made in the normal course of business and consistent with
past practice). The Group has not effectuated a “mass layoff,” “plant closing,” partial “plant closing,” “relocation” or “termination” (each as defined in the Worker Adjustment and Retraining
Notification Act or any similar legal requirement) affecting any site of employment or one or more facilities or operating units within any site of employment or facility of the Group. 

 

	 	(i)	 The Group is not and has never been a party to or otherwise bound by any collective bargaining agreement,
contract or other agreement or understanding with a labor union or labor organization, or works council or similar body, nor is any such contract or agreement presently being negotiated, nor, to the Company’s Knowledge, is there, nor has there
been in the last three years, a representation campaign with respect to any of the employees of the Group. As of the date of this Agreement, there is no pending or, to the Company’s Knowledge, threatened, labor strike, dispute, walkout, work
stoppage, slow-down or lockout involving any Group Company. Neither the Group nor any of their representatives or employees has committed or engaged in any material unfair labor practice in connection with the operation of the business of the Group.
There are no Legal Proceedings pending, or, to the Company’s Knowledge, threatened, relating to any Company Plan collective bargaining obligation or agreement, wages and hours, leave of absence, plant closing notification, employment statute or
regulation, privacy right, labor dispute, workers’ compensation policy, safety, retaliation, harassment, immigration or discrimination matter involving any employee, including charges of unfair labor practices, discrimination, retaliation or
harassment complaints. 

  

	 	(j)	 No key employee of the Group has provided written notice to any Group Company of his or her intent to terminate
his or her employment with any Group Company as of the date hereof. 

  

	4.22	 Environmental Matters 

The Group is in material compliance with all applicable environmental Laws. The Group has not received any written notices, demand letters or
requests for information from any Governmental Authority indicating that the Group is or may be in violation of, or be liable under, 

  
 44 

 
any Environmental Law, and the Group is not subject to any pending or, to Company’s Knowledge, threatened action or investigation by any Governmental Authority under any Environmental Law.
The Group is in compliance in all material respects with, and has no material liability under, any provisions of leases relating in any way to any environmental Laws or to the use, management or release of hazardous substances under such leases. All
environmental permits, if any, required to be obtained by the Group under any Environmental Law in connection with its operations as they are currently being conducted, including those relating to the management of hazardous substances, have been
obtained by the Group, are in full force and effect, and the Group is in material compliance with the terms thereof. The Group has not disposed of or released any hazardous substances on, in or under any real property that would reasonably be
expected to require remediation under environmental Laws. The Group has delivered or otherwise made available to Parent or its counsel copies of any environmental investigation, study, test, audit, review or other analysis in its possession in
relation to the current or prior business of the Group. 
  

	4.23	 Insurance 

The Group has the insurance of the types and in the amounts set forth in Part 4.23 of the Disclosure Schedule (the “Insurance
Policies”). The Insurance Policies are in full force and effect and all premiums due and payable under such Insurance Policies have been paid on a timely basis. As of the date of this Agreement, there is no material claim pending under any
of the Group’s Insurance Policies as to which coverage has been questioned, denied or disputed by the underwriters of such policies. The Group is in compliance in all material respects with the terms of such policies. The Company has no
Knowledge as of the date of this Agreement of any threatened termination of, or material premium increase with respect to, any of such policies. 
  

	4.24	 Legal Proceedings; Orders 

As of the date of this Agreement, there is no pending legal proceeding, and, to the Company’s Knowledge, no Person has threatened to
commence any legal proceeding: (a) that involves any Group Company or any of the assets owned or used by the Group or any Person whose liability the Group has retained or assumed, either contractually or by operation of law; or (b) against
any Group Company that challenges, or that would have the effect of preventing, delaying, making illegal or otherwise interfering with, the Merger or any of the other transactions contemplated by this Agreement. As of the date of this Agreement,
there is no order, writ, injunction, judgment or decree to which the Group or any of the assets owned or used by the Group, or any of the Company’s officers or directors (in their respective capacities as such), is subject that is material or
reasonably expected to be material to the Company. 
  

	4.25	 Financial Advisor. 

Except as set forth in Part 4.25 of the Disclosure Schedule, there is no broker, finder or investment banker is entitled to any brokerage or
finder’s fee in connection with the Merger or any of the other transactions contemplated by this Agreement based upon arrangements made by or on behalf of the Group for which Parent or the Surviving Corporation would be liable following the
Effective Time. 

  
 45 

	4.26	 Related Party Transactions 

 

	 	(a)	 Except as set forth in Part 4.26(a) of the Disclosure Schedule, there are no contracts between any Group
Company and their respective officers, directors, stockholders or employees other than (a) for payment of salaries and bonuses for services rendered, (b) reimbursement of customary and reasonable expenses incurred on behalf of the Group,
(c) benefits due under Company Plans and fringe benefits not required to be listed on Part 4.21(a) of the Disclosure Schedule and (d) indemnification obligations owed to current and former directors and officers of the Company under the
Company Charter. To the Company’s Knowledge, no officer, director or employee of the Company or Company Stockholder is directly interested in any Material Contract other than pursuant to the Company Plans. 

 

	 	(b)	 Except as provided under Company Plans and Company Service Provider Agreements, neither the Company nor any of
its Affiliates, directors, officers or employees of the Company possess, directly or indirectly, any financial interest in, or is a director, officer or employee of, any entity that is a material supplier, contractor, lessor, lessee or competitor of
the Company. 

  

	5.	 REPRESENTATIONS AND WARRANTIES OF THE SHARE RECIPIENTS 

Each of the Share Recipients (severally but not jointly) represents and warrants to the Parent Parties that the statements set forth in this
Article 5 are true and correct as of the Closing Date: 
  

	5.1	 Authority and Enforceability 

Each of the Share Recipients has all requisite corporate power and/or authority to execute and deliver this Agreement and the Lock-Up Agreement to which it is a party, as applicable, and to perform its obligations under this Agreement and such Lock-Up Agreement, as applicable. The execution, delivery
and performance of this Agreement and such Lock-Up Agreement and the consummation of the Transactions have been duly and validly authorized by all necessary action on the part of the Share Recipients. Each of
the Share Recipients has duly and validly executed and delivered this Agreement and has duly and validly executed and delivered such Lock-Up Agreement to which it is a party. This Agreement constitutes, and
upon execution and delivery such Lock-Up Agreement to which a Share Recipient is a party will constitute, the legal, valid and binding obligations of each of the Share Recipients, enforceable against each
Share Recipient, as applicable, in accordance with its terms, except as enforceability may be limited by bankruptcy laws, other similar laws affecting creditors’ rights and general principles of equity affecting the availability of specific
performance and other equitable remedies. 
  

	5.2	 No Conflict 

Neither the execution, delivery and performance by each of the Share Recipients of this Agreement and the
Lock-Up Agreement to which it is a party, nor the consummation by each of the Share Recipients of the Transactions, will, directly or indirectly (with or without notice, lapse of time or both), conflict with,
result in a breach or violation of, constitute a default under (a) any Contract to which any Share Recipient is a party or by which a Share Recipient is bound or to which any of their respective properties or assets is subject or (b) any Law,
Judgment or Governmental Authorization applicable to the applicable Share Recipient or any of its respective properties or assets. 

  
 46 

	6.	 REPRESENTATIONS AND WARRANTIES OF PARENT 

Parent represents and warrants to the Company and its stockholders that the statements set forth in this Article 6 are true and correct:

  

	6.1	 Due Incorporation; Subsidiaries 

Parent is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. Merger Sub is a
corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. 
  

	6.2	 Authority; Binding Nature of Agreement 

Each of Parent and Merger Sub have all necessary corporate power and authority to enter into and to perform its obligations under this
Agreement. The execution, delivery and performance by each of Parent and Merger Sub of this Agreement have been duly authorized by all necessary action on the part of Parent, Merger Sub and their respective boards of directors and stockholders, as
applicable. This Agreement constitutes a valid and binding obligation of each of Parent and Merger Sub, enforceable against it in accordance with its terms, subject to (a) laws of general application relating to bankruptcy, insolvency and the
relief of debtors and (b) rules of law governing specific performance, injunctive relief and other equitable remedies. 
  

	6.3	 No Parent Vote Required 

No vote or other action of the stockholders of Parent is required by applicable Law, the certificate of incorporation or bylaws of Parent or
otherwise in order for Parent and Merger Sub to consummate the Merger and the transactions contemplated hereby (except in the event that the total number of Parent Consideration Stock issued hereunder exceed 19.9% of the total Parent common stock
outstanding as of the Effective Time). 
  

	6.4	 Non-Contravention; Consents 

The execution and delivery of this Agreement by Parent and Merger Sub and the consummation by Parent and Merger Sub of the transactions
contemplated by this Agreement will not: (a) cause a violation of any of the provisions of the certificate of incorporation or bylaws of Parent or Merger Sub, (b) cause a violation by Parent or Merger Sub of any Law applicable to Parent or
Merger Sub or (c) cause a default (or an event that, with or without notice or lapse of time or both, would constitute a default) on the part of Parent or Merger Sub under any material contract of Parent or Merger Sub. Except as may be required
by (x) DGCL or (y) the HSR Act or any other antitrust law or governmental regulation, neither Parent nor Merger Sub is required to obtain any consent from any Governmental Authority or any other party at any time prior to the Closing in
connection with the execution and delivery of this Agreement or the consummation of the Merger. 
  

	6.5	 Litigation As of the date of this Agreement, there is no legal proceeding pending (or, to the Knowledge of
Parent or Merger Sub, being threatened) against Parent or Merger Sub that challenges, or that would have the effect of preventing, delaying or making illegal, the Merger or any of the other transactions contemplated by this Agreement.

  
 47 

	6.6	 Merger Sub (a) was formed solely for the purpose of engaging in the transactions contemplated by this
Agreement, (b) has engaged in no other business activities and (c) has conducted its operations only as contemplated by this Agreement. 

  

	6.7	 Parent Consideration Stock Upon issuance in accordance with this Agreement, the Closing Consideration (and, if
at the election of the Parent, the Deferred Consideration) consisting of Parent Consideration Stock will be duly authorized, validly issued, fully paid, freely transferable and non-assessable, free and clear
of all Encumbrances imposed or created by or otherwise resulting from the acts or omissions of Parent (except for subject to the restrictions set forth in the Lock-Up Agreements). 

 

	6.8	 Finders’ Fees There is no investment banker, broker, finder or other intermediary that has been
retained by or is authorized to act on behalf of the Parent or Merger Sub who might be entitled to any fee or commission upon consummation of the Merger or the other transactions contemplated by this Agreement. 

 

	6.9	 Parent Filings Parent has filed or furnished, as applicable, on a timely basis, all required reports,
schedules, forms, certifications, prospectuses, and registration, proxy and other statements with the Securities and Exchange Commission (“SEC”) (collectively and together with all documents filed on a voluntary basis on Form 8-K, and in each case, including all exhibits and schedules thereto and documents incorporated by reference therein, as have been supplemented, modified or amended since the time of filing, the “Parent SEC
Documents”) during the past three years. Each of the Parent SEC Documents, at the time of its filing or being furnished, complied, or if not yet filed or furnished, will comply, in all material respects, with the applicable requirements of
the Exchange Act, the Securities Act and the Sarbanes-Oxley Act of 2002, and any rules and regulations promulgated thereunder applicable to the Parent SEC Documents. As of their respective dates (or, if amended prior to the date hereof, as of the
date of such amendment), the Parent SEC Documents did not, and any Parent SEC Documents filed with or furnished to the SEC subsequent to the date hereof will not, contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements made therein, in light of the circumstances in which they were made, not misleading. 

  

	7.	 INDEMNIFICATION 

 

	7.1	 R&W Insurance Policy 

Upon the request of Parent, and at Parent’s sole cost and expense, each Party and its representatives shall reasonably cooperate with the
insurer under the R&W Insurance Policy in connection with the defense of any matter which might reasonably constitute a Loss (as defined under the R&W Insurance Policy). The insurer under the R&W Insurance Policy shall have the right to
participate in the investigation, defense and settlement of any Third Party Claim (as defined in the R&W Insurance Policy) or other matter reasonably likely to be covered under the R&W Insurance Policy. 

  
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	7.2	 Pro Rata Indemnification by the Share Recipients 

From and after the Closing, but subject to the limitations expressly set forth in this Article 7, the Share Recipients, severally in accordance
with their Pro Rata Share and not jointly will indemnify and hold harmless Parent and its Affiliates (including, following the Closing, the Surviving Corporation) and their respective directors, officers managers, employees, agents, consultants and
other advisers and representatives (collectively, the “Parent Indemnified Parties”) from and against any and all Losses, whether or not involving a third party claim, incurred or suffered by the Parent Indemnified Parties, or any of
them, to the extent arising out of or resulting from any of the following: 
  

	 	(a)	 any inaccuracy as of the Closing Date in or breach of any representation or warranty of the Company contained
in this Agreement or in any certificate, instrument or other document delivered by or on behalf of the Company pursuant to this Agreement, not to exceed $1.00; 

 

	 	(b)	 all claims under the Fundamental Warranties of the Company shall be limited to the amount of the Total
Consideration actually received by each Share Recipient; 

  

	 	(c)	 any working capital or purchase price adjustment to the Total Consideration made after the Closing Date;

  

	 	(d)	 any proceeding in respect of Dissenting Shares, any payments to any Person that was a holder of Company Capital
Stock immediately prior to the Effective Time in respect of such Person’s Dissenting Shares and any costs of any kind reasonably incurred by the Parent Indemnified Parties in respect of any communication or notification required or any other
steps reasonably taken by the Parent Indemnified Parties in respect of any Dissenting Shares; and 

  

	 	(e)	 Pre-Closing Taxes. 

For the purposes of Sections 7.2(a)-(b) and Section 7.2(e) above, the term Share Recipient shall not include HPSO SPV Limited. 

 

	7.3	 Individual Indemnification by the Share Recipients 

From and after the Closing, but subject to the limitations expressly set forth in this Article 7, each Share Recipient, severally in accordance
with their Pro Rata Share and not jointly, will indemnify and hold harmless the Parent Indemnified Parties from and against any and all Losses, whether or not involving a third party claim, incurred or suffered by the Parent Indemnified Parties, or
any of them, to the extent arising out of or resulting from any of the following: 
  

	 	(a)	 any inaccuracy in or breach of any representation or warranty of such Share Recipient contained in this
Agreement or in any certificate, instrument or other document delivered by or on behalf of such Share Recipient pursuant to this Agreement; and 

  

	 	(b)	 any nonfulfillment, nonperformance or other breach of any covenant or agreement of such Share Recipient
contained in this Agreement or in any certificate, instrument or other document delivered by or on behalf of such Share Recipient pursuant to this Agreement or any Lock-Up Agreement; 

  
 49 

 provided that a Share Recipient shall not be liable for indemnification under this
Section 7.3 for any inaccuracies, breaches, nonfulfillment and nonperformance, as described above, of any other Share Recipient. 
  

	7.4	 Indemnification by the Parent Parties 

From and after the Closing, but subject to the limitations expressly set forth in this Article 7, the Parent will indemnify and hold harmless
the stockholders of the Company from and against any and all Losses, whether or not involving a third party claim, incurred or suffered by the stockholders of the Company, or any of them, arising out of or resulting from any of the following: 

 

	 	(a)	 any inaccuracy in or breach of any representation or warranty as of the Closing Date of the Parent Parties
contained in this Agreement or in any certificate, instrument or other document delivered by or on behalf of any of the Parent Parties pursuant to this Agreement; and 

 

	 	(b)	 any nonfulfillment, nonperformance or other breach of any covenant or agreement of any of the Parent Parties
contained in this Agreement or in any certificate, instrument or other document delivered by or on behalf of the Parent Parties pursuant to this Agreement or any Lock-Up Agreement. 

 

	 	(c)	 Any untrue statement or alleged untrue statement of any material fact contained in any Prospectus Supplement or
Registration Statement under which Closing Consideration is registered pursuant to Section 3.5, any preliminary prospectus, final prospectus or prospectus supplement contained therein, or any amendment or supplement thereto, or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading (with respect to such Prospectus Supplement or Registration Statement) or not misleading in light of the
circumstances under which they were made (with respect to any prospectus), except to the extent that any such Loss (or Proceeding in respect thereof) or expense arises out of or is based upon an untrue statement or alleged untrue statement in or
omission or alleged omission from such Prospectus Supplement or Registration Statement, any such preliminary prospectus, final prospectus, prospectus supplement, amendment or supplement in reliance upon and in conformity with information furnished
in writing to Parent by or on behalf of Share Recipient seeking indemnification. 

  

	7.5	 Claim Procedure 

  

	 	(a)	 If any Party seeks indemnity under this Article 7 on behalf of itself or any other Party, it will give written
notice (a “Claim Notice”) to the Parent Indemnified Party or to the Representative, as applicable, containing (i) a description and, to the extent known or reasonably estimable, the estimated amount of any Losses incurred or
reasonably expected to be incurred by the respective Merger Stockholders or the Parent Indemnified Party, as applicable (provided that any such estimate shall not be deemed a limit on the Losses for which indemnification made be sought and the
giving of such notice shall not be a condition precedent to the liability of the relevant indemnitor), and (ii) a reasonable explanation of the basis for the Claim Notice to the extent of the facts then known by the respective Company
stockholder or the Parent Indemnified Party, as applicable. 

  
 50 

	 	(b)	 Within 30 days after delivery of a Claim Notice, the recipient of the Claim Notice will deliver to the Parent
Indemnified Party or the Representative, as applicable, a written response in which the Representative or the Parent Parties will either: (i) agree that the Parent Indemnified Party or the respective Company stockholder, as applicable, is
entitled to receive the Losses at issue in the Claim Notice; or (ii) dispute the Parent Indemnified Party’s or the respective Company stockholder’s, as applicable, entitlement to indemnification by delivering to the Parent Indemnified
Party or the Representative a written notice (an “Objection Notice”) setting forth in reasonable detail each disputed item, the basis for each such disputed item and certifying that all such disputed items are being disputed in good
faith. 

  

	 	(c)	 If the recipient of the Claim Notice fails to take either of the foregoing actions within 30 days after
delivery of the Claim Notice, then the Representative or the Parent Parties, as applicable, will be deemed to have irrevocably accepted the Claim Notice and the Representative or the Parent Parties, as applicable, will be deemed to have irrevocably
agreed that the Share Recipients or the Parent Parties, as applicable, shall be obligated to pay the Losses at issue in the Claim Notice, subject to any limits contained in this Article 7. 

 

	 	(d)	 If an Objection Notice is delivered to the Parent Indemnified Party or the Representative, as applicable,
within 30 days after delivery of the Claim Notice, then the Parties will use reasonable efforts to resolve the disputed items amicably. If they are unable to do so within 15 Business Days of the date of receipt of the Objection Notice, then the
amount of the Losses at issue in the Claim Notice (less the amount, if any, acknowledged in the Objection Notice by the Representative or the Parent Parties, as applicable, as due to the Parent Indemnified Party or the respective Company
stockholder, as applicable) may be treated by either party as a disputed claim and the Parent Parties or the Representative, as applicable, may file suit with respect to the matter in any court having jurisdiction. 

 

	7.6	 Survival 

  

	 	(a)	 All representations and warranties of the Company and the Share Recipients contained in this Agreement or in
any certificate, instrument or other document delivered by or on behalf of the Company or the Share Recipients pursuant to this Agreement will survive the Closing, irrespective of any facts known to any Parent Indemnified Party at or prior to the
Closing or any investigation at any time made by or on behalf of any Parent Indemnified Party, for a period of eighteen (18) months from the Closing Date (the “General Survival Period”); provided however that the
representations and warranties in Section 4.19 (Tax Matters) shall survive until the date that is sixty (60) days after the expiration of the applicable statute of limitations (including any applicable extensions) (the “Tax
Survival Period”). All representations and warranties of the Parent Parties contained in this Agreement or in any certificate, instrument or other document delivered by or on behalf of the Parent Parties pursuant to this Agreement will
survive the Closing for the General Survival Period. Each covenant of any Party in this Agreement, which contemplates performance following the Closing will survive in accordance with its terms. 

  
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	 	(b)	 All claims for indemnification under this Article 7 must be asserted prior to the expiration of the General
Survival Period or Tax Survival Period, as applicable; provided, however, that if a Party delivers to the applicable Party, before expiration of the General Survival Period or Tax Survival Period, as applicable, either a Claim Notice
based upon a breach of any such representation, warranty, covenant or agreement, or a notice that, as a result of a claim or demand made by a Person not a party to this Agreement, the Party delivering a Claim Notice reasonably expects to incur
Losses, then the applicable representation, warranty, covenant or agreement will survive until, but only for purposes of, the resolution of the matter covered by such notice. 

 

	7.7	 Limitations on Liability 

 

	 	(a)	 The maximum aggregate liability of the Share Recipients or each Share Recipient (as appropriate) in respect of
any inaccuracy as of the Closing Date in or breach of any representation or warranty of the Company contained in this Agreement or in any certificate, instrument or other document delivered by or on behalf of the Company pursuant to this Agreement
shall not exceed $1.00. 

  

	 	(b)	 Notwithstanding any other provision of this Agreement, nothing in this Agreement limits the Liability of any
Party for Fraud or Willful and Material Breach with respect to amount, duration or otherwise. 

  

	 	(c)	 Notwithstanding any other provision of this Agreement, other than Losses related to such Share Recipient’s
Fraud or Willful and Material Breach in no event will a Share Recipient be liable for Losses under this Agreement in an amount exceeding the Total Consideration actually paid to such party. For sake of clarity, in no event will a Share Recipient be
liable for Losses related to the Fraud or Willful and Material Breach by another Share Recipient. 

  

	 	(d)	 Each Parent Indemnified Party and Share Recipient shall take, and cause its Affiliates to take, all reasonable
steps to mitigate any Loss upon becoming aware of any event or circumstance that would be reasonably expected to, or does rise thereto, including costs only to the minimum extent necessary to remedy the breach that gives rise to such Loss.

  

	7.8	 Satisfaction of Claims 

 

	 	(a)	 Any payments required to be made to a Parent Indemnified Party pursuant to this Article 7 will be made first by
resort to reductions to the Deferred Consideration payable as of such time, such that a reduced number of Parent Consideration Stock will be issued or Cash will be paid to the Share Recipients pursuant to Section 3.4(c) and then, if the Loss is
greater than the Deferred Consideration payable as of such time the Loss is payable, the Parent Indemnified Party shall continue to be entitled to indemnification for the amount of such excess, subject to the terms and conditions of this Article 7;
provided, however, that any Parent Indemnified Party shall be entitled to pursue payments required to be made by HPSO SPV Limited with respect to Section 7.2(c) and Section 7.2(d) only from the Deferred Consideration due to HPSO SPV
Limited. 

  
 52 

	 	(b)	 Any indemnification payments required to be made to a Party pursuant to this Article 7, will be made within
five Business Days after the date on which (i) the amount of such payments are determined by mutual agreement of Parent and the Representative, (ii) the amount of such payments are determined pursuant to Section 7.5(c) if an Objection
Notice has not been timely delivered in accordance with Section 7.5(b) or (iii) both such amount and the Party’s obligation to pay such amount have been determined by a final order of a court having jurisdiction over such proceeding
pursuant to the terms of this Agreement if an Objection Notice has been timely delivered in accordance with Section 7.5(b). 

  

	 	(c)	 Notwithstanding the foregoing, the Parent Indemnified Parties shall first seek recovery for any indemnification
claim from the R&W Insurance Policy, then secondarily to the Deferred Consideration. 

  

	7.9	 Determination of Loss Amount 

The amount of any Loss subject to indemnification under this Article 7 shall be calculated net of (i) any insurance proceeds (net of any
costs of such recovery such as deductibles and self-insured amounts) or (ii) any indemnity, contribution or other similar payment actually recovered by the Party to whom an indemnification is owed from any third party with respect thereto. In
the event that an insurance or other recovery is made by any Party with respect to any Loss for which any such Person has received an indemnification payment hereunder, then a refund equal to the aggregate amount of the recovery (net of any costs of
such recovery such as deductibles, taxes and self-insured amounts) shall be made promptly to the Party that has made the applicable indemnification payment hereunder. 
  

	7.10	 No Right of Indemnification or Contribution 

This Agreement shall not grant the stockholders of the Company any right of indemnification or contribution against the Company with respect to
any breach by the Company of any of its representations, warranties, statements, covenants or agreements contained in this Agreement or in any certificate, instrument or other document delivered by or on behalf of the Company pursuant to this
Agreement, whether by virtue of any contractual or statutory right of indemnity or otherwise. 
  

	7.11	 Exercise of Remedies by Parent Indemnified Parties other than Parent 

No Parent Indemnified Party (other than Parent or any successor or assignee of Parent) is entitled to assert any indemnification claim or
exercise any other remedy under this Agreement unless Parent (or any successor or assignee of Parent) consents to the assertion of the indemnification claim or the exercise of such other remedy. 

 

	7.12	 Adjustment to Total Consideration 

The Parties shall treat any indemnification payment made hereunder (including pursuant to this Article 7) as an adjustment to the Total
Consideration for all Tax purposes, except as otherwise required by applicable Law. 

  
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	7.13	 Exclusive Monetary Remedy 

Except in the case of Fraud or Willful and Material Breach, after the Closing, the indemnification provisions set forth in this Article 7 shall
constitute the sole and exclusive remedy and recourse for monetary damages of the Parent Indemnified Parties for any and all Losses or other claims relating to or arising from this Agreement. 

 

	7.14	 Director and Officer Indemnification 

 

	 	(a)	 Prior to the Closing, the Company has obtained and fully paid for a “tail” insurance policy (the
“Company D&O Tail Policy”) under the Company’s existing directors’ and officers’ liability insurance coverage for the Company’s directors and officers on terms reasonably acceptable to Parent that shall
provide such directors and officers with coverage for six (6) years following the Effective Time and that provides at least the same coverage in scope and amount as the existing coverage and have other terms not materially less favorable in the
aggregate to the insured persons than the directors’ and officers’ liability insurance coverage presently maintained by the Company. The Company will bear the cost of fifty percent (50%) of the Company D&O Tail Policy and such amount
will be reflected in the Closing Working Capital. The Parent will bear the cost of the remaining fifty percent (50%) of the Company D&O Tail Policy. 

  

	 	(b)	 From and after the Effective Time, and until the sixth anniversary of the Effective Time, Parent shall cause
the Surviving Corporation to fulfill and honor in all respects the obligations of the Company to Persons who on or prior to the Effective Time are or were directors and/or officers of the Company (the “Company Indemnified Parties”)
pursuant to any indemnification provisions under the Company Charter or the bylaws of the Company; provided, however, that (i) the foregoing obligations shall be subject to any limitation imposed by applicable Laws, and (ii) no Company
Indemnified Party shall have any right of contribution, indemnification or right of advancement from Parent, Surviving Corporation, or their respective successors with respect to any Losses claimed by any of the Indemnified Parties against such
Company Indemnified Party in his or her capacity as a Share Recipient pursuant to this Agreement. 

  

	8.	 TAX MATTERS 

  

	8.1	 Tax Returns. 

Following the Closing Date, Parent shall timely file all Tax Returns required to be filed by a Group Company after the Closing Date; provided
that, with respect to any Tax Return relating to a Pre-Closing Tax Period that shows Pre-Closing Taxes that are due and payable with such Tax Return for which the Merger
Stockholders would be liable under Section 7, Parent shall permit the Representative, at the Share Recipients’ sole expense, to review and comment on each such Tax Return at least twenty (20) days prior to filing (or, in the case of a
non-income Tax Return, such shorter period of time as is reasonable, taking into account the due date and nature of the Tax Return). If Parent does not receive comments from the Representative at least five
(5) days prior to the filing of such Tax Returns, the Representative shall be deemed to have no comments to such Tax Returns. For purposes of preparing Tax Returns pursuant to this Section 8.1, Deductible Expenses shall be allocated to the
Pre-Closing Tax Period to the maximum extent permitted by applicable Law. 

  
 54 

	8.2	 Tax Claims 

  

	 	(a)	 If notice of any claim by any Tax authority with respect to Taxes of a Group Company (a “Tax
Claim”) shall be received by any party for which any other party may reasonably be expected to be liable, the notified party shall notify such other party or parties in writing of such Tax Claim; provided, however, that the failure of the
notified party to give any other party notice as provided herein shall not relieve such other party of its indemnification obligations under Article 7, except to the extent that such other party is actually prejudiced thereby. 

 

	 	(b)	 Parent shall have the right to represent the interests of the Group in any Tax Claim; provided, however, that
if the Tax Claim could reasonably result in an indemnification claim pursuant to Article 7, Parent shall (i) shall notify the Representative in writing of such Tax Claim and (ii) consult with the Representative before taking any
significant action in connection with such Tax Claim. 

  

	8.3	 Straddle Periods 

For all purposes of this Agreement, in the case of Taxes based on income, sales, proceeds, profits, receipts, wages, compensation or similar
items and all other Taxes that are not imposed on a periodic basis, the amount of such Taxes that have accrued through the Closing Date for a Straddle Period shall be deemed to be the amount that would be payable if the taxable year or period ended
at the end of the day on the Closing Date based on an interim closing of the books (and in the case of any Taxes attributable to the ownership of any equity interest in any partnership or other “flow through” entity or “controlled
foreign corporation” (within the meaning of Section 957(a) of the Code or any comparable state, local or non-U.S. Law), as if the taxable period of such partnership or other “flow through”
entity or “controlled foreign corporation” ended as of the end of the Closing Date), except that exemptions, allowances or deductions that are calculated on an annual basis (including depreciation and amortization deductions, other than
with respect to property placed in service after the Closing), shall be allocated on a per diem basis. In the case of any other Taxes that are imposed on a periodic basis for a Straddle Period, the amount of such Taxes that have accrued through the
Closing Date shall be the amount of such Taxes for the relevant period (or, in the case of such Taxes determined on an arrears basis, the amount of such Taxes for the immediately preceding period) multiplied by a fraction the numerator of which
shall be the number of calendar days from the beginning of the period up to and including the Closing Date and the denominator of which shall be the number of calendar days in the entire period. 

 

	8.4	 Tax Sharing Agreements 

All Tax sharing agreements or similar agreements of the Company or any of its Subsidiaries shall be terminated prior to the Closing Date, and,
after the Closing Date, neither the Company nor any of its Subsidiaries shall be bound thereby or have any liability thereunder. 
  

	8.5	 Transfer Taxes 

All transfer, documentary, sales, use, stamp, registration and other such Taxes and fees (including any penalties and interest)
(“Transfer Taxes”) incurred in connection with the Transactions shall be borne equally by Parent on the one hand, and the Merger Stockholders, on the other hand. The party required to file any Tax Return related to Transfer Taxes
shall file 

  
 55 

 
such Tax Return and pay any Transfer Taxes and the other party or parties shall reimburse the paying party for its share of Transfer Taxes within ten (10) days of written request. Parent
shall have the right to claim from or set off against the Deferred Consideration any Transfer Taxes to be borne by the Merger Stockholders. 
  

	8.6	 Post-Closing Covenants 

 

	 	(a)	 Following the Closing, unless the Representative provides its prior written consent (not to be unreasonably
withheld, conditioned or delayed), neither the Parent nor any Affiliate of the Parent (including the Group Companies) shall (i) amend, refile or otherwise modify, or cause or permit any Group Company to amend, refile or otherwise modify, any
Tax election or Tax Return with respect to any Pre-Closing Tax Period of any Group Company, (ii) file a Tax Return of any Group Company for a Pre-Closing Tax Period
in a jurisdiction where such Group Company has not previously filed a Tax Return, (iii) grant an extension of any applicable statute of limitations with respect to a Tax Return of any Group Company for a
Pre-Closing Tax Period, or (iv) enter into any voluntary disclosure Tax program, agreement or arrangement with any Taxing Authority that relates to the Taxes of any Group Company for a Pre-Closing Tax Period. For the avoidance of doubt, it shall be unreasonable for the Representative to withhold consent to any of the foregoing actions that are required by Law (as determined in good faith by
Parent). Prior to seeking indemnification pursuant to Section 7.2 for Losses incurred pursuant to this Section 8.6(a), Parent shall reduce the Deferred Consideration by the amount of such Losses to the extent indemnifiable; provided, however,
that if no Milestone Event (as defined in Schedule 3) has been achieved by the date that is twenty-four (24) months following the Closing Date, Parent shall be entitled to pursue the Share Recipients (except for HPSO SPV Limited) for such shortfall
in accordance with Section 7.8(a). 

  

	 	(b)	 Neither the Parent, the Group nor any Affiliate of the Parent shall (i) file or cause to be filed any
election under Section 338 or Section 336 of the Code (or any similar election under state, local or non-U.S. Law) with respect to the Transactions, or (ii) cause or permit any Group Company to
take any action on the Closing Date after the Closing that is outside of the ordinary course of business. 

  

	 	(c)	 Any Tax refunds that are actually received by the Parent, any Group Company or any of their Affiliates after
the Closing that are attributable to Taxes (or the overpayment thereof) of any Group Company for any Pre-Closing Tax Period (to the extent such Taxes were paid by a Group Company prior to Closing or by a Share
Recipient after Closing), net of any cost to Parent, any Group Company or any of their Affiliates attributable to the obtaining and receipt of such refund, except to the extent such refund arises as the result of a carryback of a loss or other tax
benefit from a Tax period (or portion thereof) beginning after the Closing Date or such refund was included as an asset in the calculation of the Closing Working Capital, as finally determined, shall be for the account of the Merger Stockholders as
an adjustment to the Total Consideration. Parent shall pay over to the Merger Stockholders, the amount of any such refund within ten (10) days after receipt thereof. To the extent such refund is subsequently disallowed or required to be
returned to the applicable Governmental Authority, the Merger Stockholders agree promptly to repay the amount of such refund, together with any interest, penalties or other additional amounts imposed by such Governmental Authority, to Parent.

  
 56 

	9.	 GENERAL PROVISIONS 

 

	9.1	 Notices 

Any notice or other communication required or permitted to be delivered to any party under this Agreement shall be in writing and shall be
deemed properly delivered, given and received (i) upon receipt when delivered by hand, (ii) upon transmission, if sent by facsimile or electronic mail transmission (in each case with receipt verified by electronic confirmation), or
(iii) one Business Day after being sent by courier or express delivery service, provided that in each case the notice or other communication is sent to the address, facsimile telephone number or electronic mail address set forth beneath the
name of such party below (or to such other address, facsimile telephone number or electronic mail address as such party shall have specified in a written notice given to the other Parties): 

If to the Representative: 

Shareholder Representative Services LLC 

Address: 950 17th Street, Suite 1400, Denver, CO 80202 

Attention: Managing Director 

Phone Number: (303) 648-4085 

E-mail Address: deals@srsacquiom.com 

with a copy in each instance (which will not constitute notice) to: 

HMB Legal Counsel 
 Address: 500
West Madison Suite 3700, Chicago, IL 60661 
 Attention: Evan Knobloch 

Phone Number: +1 (312) 606-3239 

E-mail Address: eknobloch@hmblaw.com 

If to the Parent Parties or the Surviving Corporation: 

Athenex, Inc. 
 Address: 1001 Main
Street, Suite 600, Buffalo, New York 14203 
 Attention: Teresa Bair, Vice President, Legal Affairs & Corporate Development 

Email: tbair@athenex.com 

Facsimile: +1 (716)-800-6818 

with a copy (which will not constitute notice) to: 

Cooley (UK) LLP 
 Attention:
Michal Berkner 
 Phone Number: +44 (0) 20 7556 8321 

E-mail Address: mberkner@cooley.com 

 

	9.2	 Public Disclosure. 

The press release announcing the execution of this Agreement and Closing shall be issued in such form as shall be mutually agreed upon by the
Company and Parent. Unless otherwise required by applicable Law or applicable stock exchange rules and regulations, no party to this 

  
 57 

 
Agreement shall make any public announcements in respect of this Agreement or the transactions contemplated by this Agreement, or otherwise communicate with any news media regarding this
Agreement or the transactions contemplated by this Agreement, without the prior written consent of the other Parties to this Agreement. If a public statement is required to be made pursuant to applicable Law or applicable stock exchange rules and
regulations, the Parties shall consult with each other, to the extent reasonably practicable, in advance as to the contents and timing thereof. 
  

	9.3	 Commercially Reasonable Efforts. 

Each of the Parties agrees to use its commercially reasonable efforts, and to cooperate with each other Party, to take, or cause to be taken,
all actions, and to do, or cause to be done, all things necessary, appropriate or desirable to consummate and make effective, in the most expeditious manner practicable, the Merger and the other Transactions and including to execute and deliver such
other instruments and do and perform such other acts and things as may be necessary or reasonably desirable for effecting completely the consummation of the Merger and the other Transactions. 

 

	9.4	 Amendment 

This Agreement may be amended by the Parties at any time by execution of an instrument in writing signed on behalf of the party against whom
enforcement is sought. For purposes of this Section 9.4, the Share Recipients are deemed to have agreed that any amendment of this Agreement signed by the Representative shall be binding upon and effective against the Share Recipients whether
or not they have signed such amendment. 
  

	9.5	 Waiver and Remedies 

Neither any failure nor any delay by any party in exercising any right, power or privilege under this Agreement or any of the documents
referred to in this Agreement will operate as a waiver of such right, power or privilege, and no single or partial exercise of any such right, power or privilege will preclude any other or further exercise of such right, power or privilege or the
exercise of any other right, power or privilege. To the maximum extent permitted by applicable Law, (a) no claim or right arising out of this Agreement or any of the documents referred to in this Agreement can be discharged by one party, in
whole or in part, by a waiver or renunciation of the claim or right unless in a written document signed by the other parties, (b) no waiver that may be given by a party will be applicable except in the specific instance for which it is given
and (c) no notice to or demand on one party will be deemed to be a waiver of any obligation of that party or of the right of the party giving such notice or demand to take further action without notice or demand as provided in this Agreement or
the documents referred to in this Agreement. 
  

	9.6	 Entire Agreement 

This Agreement (including the Schedules hereto and the documents and instruments referred to in this Agreement that are to be delivered at the
Closing) and the Lock-Up Agreements constitute the entire agreement among the parties and supersede any prior understandings, agreements or representations by or among the parties, or any of them, written or
oral, with respect to the subject matter of this Agreement. There are no restrictions, promises, warranties, covenants, or undertakings, other than those expressly provided for herein and therein. The parties acknowledge that, except as expressly as
provided in Article 4 (as qualified by the Disclosure Schedule), Article 5 and Article 6 hereof, none of the Parties have made or is making any representations or warranties. 

  
 58 

	9.7	 Assignment 

This Agreement shall not be assigned by operation of Law or otherwise, except that (i) Parent may assign its rights and delegate its
obligations hereunder to its Affiliates as long as Parent remains ultimately liable for all of Parent’s obligations hereunder and (ii) in accordance with all applicable transfer restrictions and Law, each Share Recipient may assign its
rights to Deferred Consideration and delegate its obligation hereunder to its respective Affiliates and successors in interest. 
  

	9.8	 Severability 

In the event that any provision of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction to be
illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application of such provision to other persons or circumstances will be interpreted so as reasonably to effect the intent of the Parties.
The Parties further agree to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable
provision. 
  

	9.9	 Schedules 

The Schedules to this Agreement are incorporated herein by reference and made a part of this Agreement. 

 

	9.10	 Interpretation 

In the negotiation of this Agreement, each Party has received advice from its own legal counsel. The language used in this Agreement is the
language chosen by the parties to express their mutual intent, and no provision of this Agreement will be interpreted for or against any party because that party or its attorney drafted the provision. 

 

	9.11	 Governing Law 

This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect to any
choice or conflict of Law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the laws of any jurisdiction other than the State of Delaware to be applied. In furtherance of the foregoing, the internal law
of the State of Delaware will control the interpretation and construction of this Agreement, even if under such jurisdiction’s choice of law of conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply.

  

	9.12	 Exclusive Jurisdictions; Waiver of Jury Trial 

 

	 	(a)	 ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER RELATED AGREEMENTS
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY MAY BE INSTITUTED FIRST, IN THE COURT OF CHANCERY WITHIN NEW CASTLE COUNTY IN THE 

  
 59 

	 	
STATE OF DELAWARE (AND ANY APPELLATE COURT THEREOF LOCATED WITHIN SUCH COUNTY) AND TO THE EXTENT SUCH COURT OF CHANCERY (OR APPELLATE COURT THEREOF LOCATED WITHIN SUCH COUNTY) LACKS JURISDICTION
OVER THE MATTER, THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED WITHIN NEW CASTLE COUNTY IN THE STATE OF DELAWARE (OR APPELLATE COURT THEREOF LOCATED WITHIN SUCH COUNTY), AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION
OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. SERVICE OF PROCESS, SUMMONS, NOTICE OR OTHER DOCUMENT BY MAIL TO SUCH PARTY’S ADDRESS SET FORTH HEREIN SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY SUIT, ACTION OR OTHER PROCEEDING BROUGHT
IN ANY SUCH COURT. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

  

	 	(b)	 EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER
TRANSACTION DOCUMENTS IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO
THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.12(b). 

  

	9.13	 Attorney-Client Privilege 

For any period prior to and including the Closing Date, the attorney-client privilege shall inure to the benefit of the Company and may only be
waived by the Representative. 
  

	9.14	 Expenses 

Except as otherwise provided in this Agreement, each Party will pay its respective direct and indirect expenses incurred by it in connection
with the preparation and negotiation of this Agreement and the consummation of the Transactions, including all fees and expenses of its advisors and representatives. 

  
 60 

	9.15	 No Third-Party Beneficiaries 

This Agreement will inure to the benefit of, and be enforceable by, the Parties and their respective successors and permitted assigns and
nothing herein, express or implied, is intended to or will confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. The representations and warranties in this Agreement are the product
of negotiations among the Parties and are for the sole benefit of the Parties. 
  

	9.16	 No Joint Venture 

Nothing in this Agreement creates a joint venture or partnership between the parties. This Agreement does not authorize any party (a) to
bind or commit, or to act as an agent, employee or legal representative of, the other party, except as may be specifically set forth in other provisions of this Agreement or (b) to have the power to control the activities and operations of the
other party. The parties are independent contractors with respect to each other under this Agreement. Each Party agrees not to hold itself out as having any authority or relationship contrary to this Section 9.16. 

 

	9.17	 Counterparts 

The parties may execute this Agreement in multiple counterparts, each of which constitutes an original as against the party that signed it, and
all of which together constitute one agreement. This Agreement is effective upon delivery of one executed counterpart from each party to the other parties. The signatures of all parties need not appear on the same counterpart. The delivery of signed
counterparts by facsimile or email transmission that includes a copy of the sending party’s signature(s) is as effective as signing and delivering the counterpart in person. 

[Signature pages follow.] 

  
 61 

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	ATHENEX, INC.
		
	By:	 	 /s/ Johnson Y.N. Lau

	Name:	 	Johnson Y.N. Lau
	Title:	 	Chief Executive Officer and Board Chairman
	
	ATHENEX PHARMACEUTICALS LLC,
		
	By:	 	 /s/ Johnson Y.N. Lau

	Name:	 	Johnson Y.N. Lau
	Title:	 	Chief Executive Officer
	
	KUUR THERAPEUTICS INC.
		
	By:	 	 /s/ Kevin S. Boyle, Sr.

	Name:	 	Kevin S. Boyle, Sr.
	Title:	 	Chief Executive Officer

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	KEVIN S. BOYLE, SR.,
	in his individual capacity as a Key Employee
		
	By:	 	 /s/ Kevin S. Boyle, Sr.

	
	KURT C. GUNTER,
	in his individual capacity as a Key Employee
		
	By:	 	 /s/ Kurt C. Gunter

	
	MELINDA LACKEY,
	in her individual capacity as a Key Employee
		
	By:	 	 /s/ Melinda Lackey

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	ANNALISA JENKINS,
	
	in her individual capacity as an Independent Company Director
		
	By:	 	 /s/ Annalisa Jenkins

	
	THOMAS HECHT,
	
	in his individual capacity as an Independent Company Director
		
	By:	 	 /s/ Thomas Hecht

	
	JULIA GREGORY,
	
	in her individual capacity as an Independent Company Director
		
	By:	 	 /s/ Julia Gregory

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	SHAREHOLDER REPRESENTATIVE SERVICES LLC,
	
	as Representative of the Share Recipients
		
	By:	 	 /s/ Sam Riffe

	Name: Sam Riffe
	Title: Managing Director

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	BAYLOR COLLEGE OF MEDICINE
		
	By:	 	 /s/ Paul Klotman, M.D., FACP

	Name: Paul Klotman, M.D., FACP
	Title: President and CEO

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	TOUCHSTONE INNOVATIONS BUSINESSES LLP, acting by its duly authorized member
		
	By:	 	 /s/ Sam Williams

	Name: Sam Williams
	Title: Managing Partner
	
	IP2IPO Portfolio L.P., acting by its general partner IP2IPO Portfolio (GP) Limited
		
	By:	 	 /s/ Sam Williams

	Name: Sam Williams
	Title: Managing Partner

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	HPSO SPV LIMITED
		
	By:	 	 /s/ David Picsing

	Name:	 	David Picsing
	Title:	 	Director

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	SCHRODER ADVEQ MANAGEMENT AG, acting for and on behalf of SCHRODER UK PUBLIC PRIVATE TRUST PLC in its capacity as discretionary investment manager and agent only and acting by two authorized signatories
		
	By:	 	 /s/ Stephanie Aldag

	Name:	 	Stephanie Aldag
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Aimi Thi

	Name:	 	Aimi Thi
	Title:	 	Authorized Signatory

 The parties have executed and delivered this Agreement as of the date indicated in the first
sentence of this Agreement. 
  

			
	 JUPITER ASSET MANAGEMENT,

as agent for and on behalf of OMNIS INCOME & GROWTH FUND

		
	By:	 	 /s/ Robert Parker

	Name:	 	Robert Parker
	Title:	 	Director

 SCHEDULE 1 

CLOSING SPREADSHEET 
 [***] 

  
 1 

 SCHEDULE 2 

PRE-CLOSING STATEMENT 

[***] 

  
 1 

 SCHEDULE 3 

DEFERRED CONSIDERATION PAYMENTS 
 [***]

  
 1

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