Document:

EX-4.1

 Exhibit 4.1 

AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of November 20, 2020, by and
among ACUMEN PHARMACEUTICALS, INC., a Delaware corporation (the “Company”), each of the investors listed on Schedule A hereto, each of which is referred to in this Agreement
as an “Investor” and any Additional Purchaser (as defined in the Purchase Agreement) that becomes a party to this Agreement in accordance with Section 6.9 hereof. 

RECITALS 

WHEREAS, certain of the Investors (the “Existing Investors”) hold shares of Series A
Preferred Stock, Series A-1 Preferred Stock and/or shares of Common Stock issued upon conversion thereof and possess registration rights, information rights, rights of first offer, and other rights pursuant to
that certain Amended and Restated Investors’ Rights Agreement dated as of October 19, 2018, by and among the Company and such Existing Investors (as amended, the “Prior Agreement”); and 

WHEREAS, the Existing Investors are holders of a majority of the Registrable Securities (as defined in
the Prior Agreement), and desire to amend and restate the Prior Agreement in its entirety and to accept the rights created pursuant to this Agreement in lieu of the rights granted to them 

under the Prior Agreement; and 

WHEREAS, certain of the Investors are parties to that certain Series B Preferred Stock Purchase Agreement
of even date herewith by and among the Company and such Investors (the “Purchase Agreement”), under which certain of the Company’s and such Investors’ obligations are conditioned upon the execution and delivery of this
Agreement by such Investors, Existing Investors holding at least a majority of the Registrable Securities, and the Company; 

NOW, THEREFORE, the Existing Investors hereby agree that the Prior
Agreement is hereby amended and restated in its entirety by this Agreement, and the parties to this Agreement further agree as follows: 

1.    Definitions. For purposes of this Agreement: 

1.1    “Affiliate” means, with respect to any specified Person, any other Person who, directly or
indirectly, controls, is controlled by, or is under common control with such Person, including without limitation any general partner, limited partner, managing member, officer, director or trustee of such Person, or any investment fund (including,
without limitation, any venture capital fund) or registered investment company now or hereafter existing that is controlled by one or more general partners, managing members or investment advisers of, or shares the same management company or
investment adviser with, such Person. 
 1.2    “Board of Directors” means the board of directors of
the Company. 
 1.3    “Certificate of Incorporation” means the Company’s Amended and Restated
Certificate of Incorporation, as amended and/or restated from time to time. 
 1.4    “Common Stock”
means shares of the Company’s common stock, par value $0.0001 per share. 

  
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 1.5    “Damages” means any loss, damage, claim or
liability (joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or
is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or
supplements thereto; (ii) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the
indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law. 

1.6    “Derivative Securities” means any securities or rights convertible into, or exercisable or
exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants. 

1.7    “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 
 1.8    “Excluded Registration” means (i) a registration
relating to the sale or grant of securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a
registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or (iv) a registration in which the only Common
Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered. 

1.9    “Form S-1” means such form under the Securities Act as in
effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC. 

1.10    “Form S-3” means such form under the Securities Act as in
effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

1.11    “GAAP” means generally accepted accounting principles in the United States as in effect from time
to time. 
 1.12    “Holder” means any holder of Registrable Securities who is a party to this
Agreement. 
 1.13    “Immediate Family Member” means a child, stepchild, grandchild, parent,
stepparent, grandparent, spouse, life partner or similar statutorily-recognized domestic partner, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including, adoptive relationships, of a natural person
referred to herein. 
 1.14    “Initiating Holders” means, collectively, Holders who properly initiate
a registration request under this Agreement. 
 1.15    “IPO” means the Company’s first
underwritten public offering of its Common Stock under the Securities Act. 

  
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 1.16    “Key Employee” means any executive-level
employee (including, division director and vice president-level positions) as well as any employee who, either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property (as defined in the Purchase
Agreement). 
 1.17    “Major Investor” means (i) any Investor that, individually or together with
such Investor’s Affiliates, holds at least 1,333,333 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification effected after the date hereof) and
(ii) Blackwell Partners LLC (“Blackwell”) for so long as it holds shares of Registrable Securities. 

1.18    “New Securities” means, collectively, equity securities of the Company, whether or not currently
authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities. 

1.19    “Person” means any individual, corporation, partnership, trust, limited liability company,
association or other entity. 
 1.20    “Preferred Director” means any director of the Company that the
holders of record of a class, classes or series of Preferred Stock are entitled to elect, exclusively and as a separate class, pursuant to the Certificate of Incorporation. 

1.21    “Preferred Stock” means, collectively, shares of the Series A Preferred Stock, the Series A-1 Preferred Stock and the Series B Preferred Stock. 
 1.22    “RA
Capital” means RA Capital Healthcare Fund, L.P, RA Capital Nexus Fund II, L.P. and their respective Affiliates. 

1.23    “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of
the Preferred Stock, excluding any Common Stock issued upon conversion of the Series B Preferred Stock pursuant to the “Special Mandatory Conversion” provisions of the Certificate of Incorporation; (ii) any Common Stock, or any Common
Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, acquired by the Investors after the date hereof; and (iii) any Common Stock issued as (or issuable upon the conversion or
exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clause (i) above; excluding in all cases, however,
any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Section 6.1, and excluding for purposes of Section 2 any shares for which
registration rights have terminated pursuant to Section 2.13 of this Agreement. 

1.24    “Registrable Securities then outstanding” means the number of shares determined by adding the
number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities. 

1.25    “Restricted Securities” means the securities of the Company required to be notated with the
legend set forth in Section 2.12(b) hereof. 
 1.26    “Sands Capital” means Sands Capital
Ventures Discovery Fund III, L.P., Sands Capital Global Venture Fund II, L.P., Sands Capital Life Sciences Pulse Fund, LLC and/or their respective Affiliates. 

  
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 1.27    “SEC” means the Securities and Exchange
Commission. 
 1.28    “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

 1.29    “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act. 

1.30    “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder. 
 1.31    “Selling Expenses” means all underwriting discounts, selling
commissions, and stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne and paid by the Company as
provided in Section 2.6. 
 1.32    “Series A Preferred Stock” means shares of the
Company’s Series A Preferred Stock, par value $0.0001 per share. 
 1.33    “Series A-1 Preferred Stock” means shares of the Company’s Series A-1 Preferred Stock, par value $0.0001 per share. 

1.34    “Series B Preferred Stock” means shares of the Company’s Series B Preferred Stock, par value
$0.0001 per share. 
 2.    Registration Rights. The Company covenants and agrees as follows: 

2.1     Demand Registration. 

(a)    Form S-1 Demand. If at any time after the earlier of (i) three
years after the date of this Agreement or (ii) 180 days after the effective date of the registration statement for the IPO, the Company receives a request from Holders of a majority of the Registrable Securities then outstanding that the Company
file a Form S-1 registration statement with respect to all of the Registrable Securities then outstanding held by such Holders covering the registration of Registrable Securities with an anticipated aggregate
offering price, net of Selling Expenses, of at least $5 million, then the Company shall (x) within 10 days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders other than the
Initiating Holders; and (y) as soon as practicable, and in any event within 60 days after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the
Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice given by
each such Holder to the Company within 20 days of the date the Demand Notice is given, and in each case, subject to the limitations of Sections 2.1(c) and 2.3. 

(b)    Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration statement, the Company receives a request from Holders of at least 30% of the Registrable Securities then outstanding that the Company file a Form S-3
registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $5 million, then the Company shall (i) within 10 days after the
date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any event within 45 days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested 

  
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to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within 20 days of the date the Demand Notice is given, and in each case,
subject to the limitations of Sections 2.1(c) and 2.3. 
 (c)    Notwithstanding the foregoing obligations, if
the Company furnishes to Holders requesting a registration pursuant to this Section 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Board of Directors it would be
materially detrimental to the Company and its stockholders for such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because it would be
materially detrimental to the Company and its stockholders for such registration statement to be filed and it is therefore necessary to defer the filing of such registration statement, then the Company shall have the right to defer taking action
with respect to such filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly, for a period of not more than 120 days after the request of the Initiating Holders is given; provided,
however, that the Company may not invoke this right more than twice in any 12 month period. 
 (d)    The
Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 2.1(a) (i) during the period that is 60 days before the Company’s good faith estimate of the date of filing of, and
ending on a date that is 180 days after the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become
effective; (ii) after the Company has effected two registrations pursuant to Section 2.1(a); or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 2.1(b) (i)
during the period that is 30 days before the Company’s good faith estimate of the date of filing of, and ending on a date that is 90 days after the effective date of, a Company-initiated registration, provided that the Company is
actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has effected two registrations pursuant to Section 2.1(b) within the twelve (12) month
period immediately preceding the date of such request. A registration shall not be counted as “effected” for purposes of this Section 2.1(d) until such time as the applicable registration statement has been declared effective
by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Section 2.6, in which
case such withdrawn registration statement shall be counted as “effected” for purposes of this Section 2.1(d). 

2.2    Company Registration. If the Company proposes to register (including, for this purpose, a registration
effected by the Company for stockholders other than the Holders) any of its securities under the Securities Act in connection with the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at
such time, promptly give each Holder notice of such registration. Upon the request of each Holder given within 20 days after such notice is given by the Company, the Company shall, subject to the provisions of Section 2.3, cause to be
registered all of the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2
before the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in
accordance with Section 2.6. 

  
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 2.3    Underwriting Requirements. 

(a)    If, pursuant to Section 2.1, the Initiating Holders intend to distribute the Registrable Securities
covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Section 2.1, and the Company shall include such information in the Demand Notice. The underwriter(s) will
be selected by the Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned
upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such
underwriting shall (together with the Company as provided in Section 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting; provided, however, that no Holder (or
any of their assignees) shall be required to make any representations, warranties or indemnities except as they relate to Holder’s ownership of shares, and authority to enter into the underwriting agreement and to such Holder’s intended
method of distribution, and the liability of such Holder shall be several and not joint, and limited to an amount equal to the net proceeds from the offering received by such Holder. Notwithstanding any other provision of this
Section 2.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of
Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating
Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number
of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above
provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. 

(b)    In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant
to Section 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and its
underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company
shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the
underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in
proportion (as nearly as practicable to) the number of Registrable Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance
with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in
the offering be reduced unless all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the offering be reduced below 25% of
the total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder’s
securities 

  
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are included in such offering. For purposes of the provision in this Section 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company,
or corporation, the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts
for the benefit of any of the foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities
owned by all Persons included in such “selling Holder,” as defined in this sentence. 
 (c)    For purposes
of Section 2.1, a registration shall not be counted as “effected” if, as a result of an exercise of the underwriter’s cutback provisions in Section 2.3(a), fewer than 50% of the total number of Registrable
Securities that Holders have requested to be included in such registration statement are actually included. 

2.4    Obligations of the Company. Whenever required under this Section 2 to effect the registration of
any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a)    prepare and file with
the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable
Securities registered thereunder, keep such registration statement effective for a period of up to 120 days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that
such 120 day period shall be extended for a period of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in such registration;

 (b)    prepare and file with the SEC such amendments and supplements to such registration statement, and the
prospectus used in connection with such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement; 

(c)    furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as
required by the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities; 

(d)    use its commercially reasonable efforts to register and qualify the securities covered by such registration
statement under such other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to qualify to do
business or to file a general consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(e)    in the event of any underwritten public offering, enter into and perform its obligations under an underwriting
agreement, in usual and customary form, with the underwriter(s) of such offering; 
 (f)    use its commercially
reasonable efforts to cause all such Registrable Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities
issued by the Company are then listed; 

  
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 (g)    provide a transfer agent and registrar for all Registrable
Securities registered pursuant to this Agreement and provide a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(h)    promptly make available for inspection by the selling Holders, any managing underwriter(s) participating in any
disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate documents, and properties of
the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or
advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith; 

(i)    notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration
statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and 

(j)    after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the
Company amend or supplement such registration statement or prospectus. 
 In addition, the Company shall ensure that, at all times after any
registration statement covering a public offering of securities of the Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors may implement a trading program under
Rule 10b5-1 of the Exchange Act. 
 2.5    Furnish Information. It shall
be a condition precedent to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information
regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities. 

2.6    Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with
registrations, filings, or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees
and disbursements, not to exceed $50,000, of one counsel for the selling Holders (“Selling Holder Counsel”), shall be borne and paid by the Company; provided, however, that the Company shall not be required to pay for
any expenses of any registration proceeding begun pursuant to Section 2.1 if the registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all
selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to
one registration pursuant to Sections 2.1(a) or 2.1(b), as the case may be then the Holders shall not be required to pay any of such expenses and shall not forfeit their right to one registration pursuant to Sections 2.1(a) or
2.1(b). All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf. 

2.7    Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or
otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

  
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 2.8    Indemnification. If any Registrable Securities are
included in a registration statement under this Section 2: 
 (a)    To the extent permitted by law, the
Company will indemnify and hold harmless each selling Holder, and the partners, members, officers, directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities
Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling
Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided,
however, that the indemnity agreement contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent
shall not be unreasonably withheld, nor shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on
behalf of any such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration except to the extent such information has been corrected in a subsequent writing prior to or
concurrently with the sale of Registrable Securities to the Person asserting the claim. 
 (b)    To the extent
permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company
within the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such
underwriter or other Holder, against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of
such selling Holder expressly for use in connection with such registration and has not been corrected in a subsequent writing prior to or concurrently with the sale of Registrable Securities to the Person asserting the claim; and each such selling
Holder will pay to the Company and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are
incurred; provided, however, that the indemnity agreement contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of
the Holder, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Sections 2.8(b) and 2.8(d)
exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder. 

(c)    Promptly after receipt by an indemnified party under this Section 2.8 of notice of the commencement of
any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this
Section 2.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any
other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties
that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing 

  
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interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the
commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.8, to the extent that such failure materially prejudices the indemnifying party’s ability to defend
such action. The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.8. 

(d)    To provide for just and equitable contribution to joint liability under the Securities Act in any case in which
either: (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent
jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section 2.8 provides for indemnification in such
case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Section 2.8, then, and in each such case, such parties will contribute to the
aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party
in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of
the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the
indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case
(x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation; and provided further that in no
event shall a Holder’s liability pursuant to this Section 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Section 2.8(b), exceed the proceeds from the offering received by such Holder
(net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder. 

(e)    Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in
the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided, however, that any matter
expressly provided for or addressed by the foregoing provisions that is not expressly provided for or addressed by the underwriting agreement shall be controlled by the foregoing provisions. 

(f)    Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public
offering, the obligations of the Company and Holders under this Section 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and otherwise shall survive the
termination of this Agreement. 

  
 10 

 2.9    Reports Under Exchange Act. With a view to making
available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company shall: 
 (a)    make and keep available adequate current public
information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO; 

(b)    use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents
required of the Company under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and 

(c)    furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to
the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after 90 days after the effective date of the registration statement filed by the Company for the IPO), the
Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3
(at any time after the Company so qualifies); and (ii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at
any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form). 

2.10    Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall
not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would allow such holder or
prospective holder to include such securities in any registration unless, under the terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of such
securities will not reduce the number of the Registrable Securities of the Holders that are included; provided that this limitation shall not apply to Registrable Securities acquired by any additional Investor that becomes a party to this
Agreement in accordance with Section 6.9. 
 2.11    “Market
Stand-off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus
relating to the registration by the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S-1, and ending on the date specified by
the Company and the managing underwriter (such period not to exceed 180 days, or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of
research reports, and (2) analyst recommendations and opinions, including, but not limited to, the restrictions contained in applicable FINRA rules or any successor provisions or amendments thereto), (i) lend; offer; pledge; sell; contract to
sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities
convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held immediately before the effective date of the registration statement for such offering or (ii) enter into any swap or other arrangement that transfers
to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or
otherwise. The foregoing provisions of this Section 2.11 shall apply only to the IPO and shall not apply to (a) the sale of any shares of Common Stock (x) purchased by the Holder in connection with the IPO, whether or not
pursuant to an underwriting agreement, a private placement that is concurrent with the IPO, or otherwise, or (y) acquired in the open market at any time on or after the IPO; (b) the sale of any shares to an underwriter pursuant to an
underwriting agreement, or (c) the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee of the trust agrees to be bound in

  
 11 

 
writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, and shall be applicable to the Holders only if
all officers and directors are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all stockholders individually owning more than 1% of the Company’s outstanding Common Stock
(after giving effect to conversion into Common Stock of all outstanding Preferred Stock). The underwriters in connection with such registration are intended third-party beneficiaries of this Section 2.11 and shall have the right, power
and authority to enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with
this Section 2.11 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Company
stockholders that are subject to such agreements, based on the number of shares subject to such agreements. 

2.12    Restrictions on Transfer. 

(a)    The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the
Company shall not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure
compliance with the provisions of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable Securities held by such Holder to agree to take and hold such securities
subject to the provisions and upon the conditions specified in this Agreement. 
 (b)    Each certificate, instrument,
or book entry representing (i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock dividend,
recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section 2.12(c)) be notated with a legend substantially in the following form: 

THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SHARES
MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT. 

THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER,
A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
 The Holders consent to the Company making a notation in its records and
giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Section 2.12. 

(c)    The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects
with the provisions of this Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration statement under the Securities Act covering the proposed transaction, the Holder
thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if
reasonably requested 

  
 12 

 
by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall, be reasonably satisfactory to
the Company, addressed to the Company, to the effect that the proposed transaction may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect that the proposed sale, pledge, or
transfer of such Restricted Securities without registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel to the Company to
the effect that the proposed sale, pledge, or transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such
Restricted Securities in accordance with the terms of the notice given by the Holder to the Company. The Company will not require such a legal opinion or “no action” letter (x) in any transaction in compliance with SEC Rule 144; or
(y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to be subject to the terms of this
Section 2.12. Each certificate, instrument, or book entry representing the Restricted Securities transferred as above provided shall be notated with, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive
legend set forth in Section 2.12(b), except that such certificate instrument, or book entry shall not be notated with such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in
order to establish compliance with any provisions of the Securities Act. 
 2.13    Termination of Registration
Rights. The right of any Holder to request registration or inclusion of Registrable Securities in any registration pursuant to Sections 2.1 or 2.2 shall terminate upon the earliest to occur of: 

(a)    the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, in which
the consideration received by the Investors in such Deemed Liquidation Event is in the form of cash and/or publicly traded securities, or if the Investors receive registration rights from the acquiring company or other successor to the Company that
are reasonably comparable to those set forth in this Section 2; 
 (b)    such time after consummation of
the IPO as SEC Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such Holder’s shares without limitation during a three-month period without registration (and without the requirement for the
Company to be in compliance with the current public information required under subsection (c)(1) of SEC Rule 144) and such Holder (together with its “affiliates” as determined under SEC Rule 144) holds less than one percent (1%) of the
outstanding capital stock of the Company; and 
 (c)    the third anniversary of the IPO. 

3.    Information Rights. 

3.1    Delivery of Financial Statements. The Company shall deliver to each Major Investor, provided
that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company; provided further that Sands Capital, RA Capital and Blackwell shall not be determined to be a competitor of the Company
for any purpose under this Agreement: 
 (a)    as soon as practicable, but in any event within 120 days after the end
of each fiscal year of the Company (i) a balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and a comparison between (x) the actual amounts as of and for such fiscal year and
(y) the comparable amounts for the prior year and as included in the Budget (as defined in Section 3.1(e)) for such year, with an explanation of any material differences between such amounts and a schedule as to the sources and
applications of funds for such year, and (iii) a statement of stockholders’ equity as of the end of such year, all such financial statements audited and certified by independent public accountants of regionally recognized standing selected
by the Company; 

  
 13 

 (b)    as soon as practicable, but in any event within 45 days after
the end of each of the first three quarters of each fiscal year of the Company, unaudited statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders’ equity as of the end of such
fiscal quarter, all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be
required in accordance with GAAP); 
 (c)    as soon as practicable, but in any event within 30 days after the end of
each month, unaudited statements of income and cash flows for such month, and an unaudited balance sheet and a statement of stockholders’ equity as of the end of such month, all prepared in accordance with GAAP (except that such financial
statements may (i) be subject to normal year-end audit adjustments and (ii) not contain all notes thereto that may be required in accordance with GAAP); 

(d)    as soon as practicable, but in any event within 45 days after the end of each quarter of each fiscal year of the
Company, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or
exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and stock options not yet issued but reserved for
issuance, if any, all in a form reasonably acceptable to each Major Investor, in sufficient detail as to permit the Major Investors to calculate their respective percentage equity ownership in the Company, and certified by the chief financial
officer or chief executive officer of the Company as being true, complete, and correct; 
 (e)    as soon as
practicable, but in any event 30 days before the end of each fiscal year, a budget and business plan for the next fiscal year, prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months and,
promptly after prepared, any other budgets or revised budgets prepared by the Company (such budget and business plan that is approved by the Board of Directors including the vote of a majority of the Preferred Directors then seated (the
“Requisite Preferred Director Vote”) is collectively referred to herein as the “Budget”); and 

(f)    such other information relating to the financial condition, business, prospects, or corporate affairs of the
Company as any Major Investor may from time to time reasonably request; provided, however, that the Company shall not be obligated under this Section 3.1 to provide information (i) that the Company reasonably
determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in a form acceptable to the Company); or (ii) the disclosure of which would adversely affect the
attorney-client privilege between the Company and its counsel. 
 If, for any period, the Company has any subsidiary whose accounts are
consolidated with those of the Company, then in respect of such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated
subsidiaries. 
 Notwithstanding anything else in this Section 3.1 to the contrary, the Company may cease providing the
information set forth in this Section 3.1 during the period starting with the date 60 days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply
with the SEC rules applicable to such registration statement and related offering; provided that the Company’s covenants under this Section 3.1 shall be reinstated at such time as the Company is no longer actively employing
its commercially reasonable efforts to cause such registration statement to become effective. 

  
 14 

 3.2    Inspection. The Company shall permit each Major Investor,
provided that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company, at such Major Investor’s expense, to visit and inspect the Company’s properties; examine its books of
account and records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested by the Major Investor; provided, however, that the
Company shall not be obligated pursuant to this Section 3.2 to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable
confidentiality agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 

3.3    Termination of Information. The covenants set forth in Section 3.1 and Section 3.2 shall
terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or
(iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first; provided, that, with respect to clause (iii), the covenants set forth in Section 3.1
shall only terminate if the consideration received by the Investors in such Deemed Liquidation Event is in the form of cash and/or publicly traded securities or if the Investors receive financial information from the acquiring company or other
successor to the Company comparable to those set forth in Section 3.1. 
 3.4    Confidentiality.
Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms
of this Agreement (including notice of the Company’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section
3.4 by such Investor), (b) is or has been independently developed or conceived by such Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to such Investor by a third party
without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other
professionals to the extent necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees
to be bound by the provisions of this Section 3.4, provided that the Board of Directors has not reasonably determined that such prospective purchaser is a competitor of the Company; (iii) to any Affiliate, any current or
prospective partner, member or stockholder, or any wholly owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such Person to
maintain the confidentiality of such information; or (iv) as may otherwise be required by law, regulation, rule, court order or subpoena, provided that such Investor promptly notifies the Company of such disclosure and takes reasonable
steps to minimize the extent of any such required disclosure. 
 4.    Rights to Future Stock Issuances. 

4.1    Right of First Offer. Subject to the terms and conditions of this Section 4.1 and applicable
securities laws, if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor. A Major Investor shall be entitled to apportion the right of first offer hereby granted to it in
such proportions as it deems appropriate, among (i) itself and (ii) its Affiliates. 

  
 15 

 (a)    The Company shall give notice (the “Offer
Notice”) to each Major Investor, stating (i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer
such New Securities. 
 (b)    By notification to the Company within 20 days after the Offer Notice is given, each
Major Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which equals the proportion that the Common Stock then held by such Major Investor
(including all shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities then held by such Major Investor) bears to the total Common Stock
of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Preferred Stock and any other Derivative Securities then outstanding). At the expiration of such twenty (20) day period, the Company shall promptly
notify each Major Investor that elects to purchase or acquire all the shares available to it (each, a “Fully Exercising Investor”) of any other Major Investor’s failure to do likewise. During the ten (10) day period
commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in addition to the number of shares specified above, up to that portion of the New Securities for
which Major Investors were entitled to subscribe but that were not subscribed for by the Major Investors which is equal to the proportion that the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as
applicable, of Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the
Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. The closing of any sale pursuant to this Section 4.1(b) shall occur within the later of 90
days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Section 4.1(c). 

(c)    If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in
Section 4.1(b), the Company may, during the 90 day period following the expiration of the periods provided in Section 4.1(b), offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons
at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not
consummated within 30 days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Major Investors in accordance with this
Section 4.1. 
 (d)    Notwithstanding any provision hereof to the contrary, in lieu of complying with the
provisions of this Section 4.1, the Company may elect to give notice to the Major Investors within thirty (30) days after the issuance of New Securities. Such notice shall describe the type, price, and terms of the New Securities.
Each Major Investor shall have twenty (20) days from the date notice is given to elect to purchase up to the number of New Securities that would, if purchased by such Major Investor, maintain such Major Investor’s percentage-ownership
position, calculated as set forth in Section 4.1(b) before giving effect to the issuance of such New Securities. 

(e)    The right of first offer in this Section 4.1 shall not be applicable to (i) Exempted Securities
(as defined in the Certificate of Incorporation); (ii) shares of Common Stock issued in the IPO; and (iii) the issuance of shares of Preferred Stock to Additional Purchasers pursuant to Section 1.3 of the Purchase Agreement 

  
 16 

 4.2    Termination. The covenants set forth in
Section 4.1 shall terminate and be of no further force or effect (i) immediately before the consummation of the Qualified IPO, as such term is defined in the Certificate of Incorporation, (ii) when the Company first becomes
subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation in which the consideration
received by the Investors in such Deemed Liquidation Event is in the form of cash and/or publicly traded securities, or if the Investors receive participation rights from the acquiring company or other successor to the Company reasonably comparable
to those set forth in this Section 4, whichever event occurs first. 
 5.    Additional Covenants.

 5.1    Insurance. The Company shall use commercially reasonable efforts to maintain, from financially sound and
reputable insurers Directors and Officers liability insurance in an amount and on terms and conditions satisfactory to the Board of Directors, until such time as the Board of Directors determines that such insurance should be discontinued. The
policy will not be cancelable by the Company without prior approval by the Board of Directors. 
 5.2    Employee
Agreements. The Company will cause (i) each Person now or hereafter employed by it or by any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access to confidential information and/or
trade secrets to enter into a nondisclosure and proprietary rights assignment agreement; and (ii) each Key Employee to enter into a one year non-competition and
non-solicitation agreement, substantially in the form approved by the Board of Directors. 

5.3    Employee Stock. Unless otherwise approved by the Board of Directors, all future employees and consultants of
the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for
(i) vesting of shares over a 4 year period, with the first 25% of such shares vesting following 12 months of continued employment or service, and the remaining shares vesting in equal monthly installments over the following 36 months, and
(ii) a market stand-off provision substantially similar to that in Section 2.11. Without the prior approval by the Board of Directors, the Company shall not amend, modify, terminate, waive or
otherwise alter, in whole or in part, any stock purchase, stock restriction or option agreement with any existing employee or service provider if such amendment would cause it to be inconsistent with this Section 5.3. In addition, unless
otherwise approved by the Board of Directors, the Company shall retain (and not waive) a “right of first refusal” on employee transfers until the Company’s IPO and shall have the right to repurchase unvested shares at cost upon
termination of employment of a holder of restricted stock. 
 5.4    Board Matters. Unless otherwise determined
by the vote of a majority of the directors then in office, the Board of Directors shall meet at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the directors for all reasonable
out-of-pocket travel expenses incurred (consistent with the Company’s travel policy) in connection with attending meetings of the Board of Directors. Each non-employee director shall be entitled in such person’s discretion to be a member of any committee of the Board of Directors. 

  
 17 

 5.5    Matters Requiring Preferred Director Approval. During such
time or times as the holders of Preferred Stock are entitled to elect a Preferred Director and such seat is filled, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the Board of Directors,
which approval must include the Requisite Preferred Director Vote: 
 (a)    make, or permit any subsidiary to make, any
loan or advance to, or own any stock or other securities of, any subsidiary or other corporation, partnership, or other entity unless it is wholly owned by the Company; 

(b)    make, or permit any subsidiary to make, any loan or advance to any Person, including, without limitation, any
employee or director of the Company or any subsidiary, except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by the Board of Directors; 

(c)    guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly, any indebtedness
except for trade accounts of the Company or any subsidiary arising in the ordinary course of business; 
 (d)    make
any investment inconsistent with any investment policy approved by the Board of Directors; 
 (e)    incur any aggregate
indebtedness in excess of $250,000 that is not already included in the Budget (as defined in Section 3.1(e)), other than trade credit incurred in the ordinary course of business; 

(f)    otherwise enter into or be a party to any transaction with any director, officer, or employee of the Company or any
“associate” (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such Person, including without limitation any “management bonus” or similar plan providing payments to
employees in connection with a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, except for transactions contemplated by this Agreement and the Purchase Agreement; 

(g)    hire, terminate, or change the compensation of the executive officers, including approving any option grants or
stock awards to executive officers; 
 (h)    change the principal business of the Company, enter new lines of business,
or exit the current line of business; 
 (i)    sell, assign, license, pledge, or encumber material technology or
intellectual property, other than licenses granted in the ordinary course of business; or 
 (j)    enter into any
corporate strategic relationship involving the payment, contribution, or assignment by the Company or to the Company of money or assets greater than $250,000. 

5.6    Successor Indemnification. If the Company or any of its successors or assignees consolidates with or merges
into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the Company assume the
obligations of the Company with respect to indemnification of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the Company’s Bylaws, the Certificate of Incorporation,
or elsewhere, as the case may be. 
 5.7    Indemnification Matters. The Company hereby acknowledges that one
(1) or more of the Preferred Directors nominated to serve on the Board of Directors by the Investors may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more of the Investors and certain of
their Affiliates (collectively, the “Investor Indemnitors”). The Company hereby 

  
 18 

 
agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Preferred Director are primary and any obligation of the Investor Indemnitors to advance expenses or
to provide indemnification for the same expenses or liabilities incurred by such Preferred Director are secondary), (b) that it shall be required to advance the full amount of expenses incurred by such Preferred Director and shall be liable for the
full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such Preferred Director to the extent legally permitted and as required by the Certificate of Incorporation or Bylaws of the Company (or
any agreement between the Company and such Preferred Director), without regard to any rights such Preferred Director may have against the Investor Indemnitors, and, (c) that it irrevocably waives, relinquishes and releases the Investor
Indemnitors from any and all claims against the Investor Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Investor Indemnitors on behalf
of any such Preferred Director with respect to any claim for which such Preferred Director has sought indemnification from the Company shall affect the foregoing and the Investor Indemnitors shall have a right of contribution and/or be subrogated to
the extent of such advancement or payment to all of the rights of recovery of such Preferred Director against the Company. The Preferred Directors and the Investor Indemnitors are intended third party beneficiaries of this Section 5.7
and shall have the right, power and authority to enforce the provisions of this Section 5.7 as though they were a party to this Agreement. 

5.8    Right to Conduct Activities. The Company hereby agrees and acknowledges that each of Sands Capital Ventures,
LLC (together with its Affiliates), PBM ACU Holdings, LLC (together with its Affiliates), PBM ACU Holdings II, LLC (together with its Affiliates), Blackwell, and RA Capital (together with its Affiliates) is a professional investment organization,
and as such reviews the business plans and related proprietary information of many enterprises, some of which may compete directly or indirectly with the Company’s business (as currently conducted or as currently propose to be conducted).
Nothing in this Agreement shall preclude or in any way restrict the Investors from evaluating or purchasing securities, including publicly traded securities, of a particular enterprise, or investing or participating in any particular enterprise
whether or not such enterprise has products or services which compete with those of the Company; and the Company hereby agrees that, to the extent permitted under applicable law, Sands Capital Ventures, LLC (and its Affiliates), PBM ACU Holdings,
LLC (together with its Affiliates), PBM ACU Holdings II, LLC (together with its Affiliates), Blackwell and RA Capital (or its Affiliates) shall not be liable to the Company for any claim arising out of, or based upon, (i) the investment by
Sands Capital Ventures, LLC (or its Affiliates), PBM ACU Holdings, LLC (together with its Affiliates), PBM ACU Holdings II, LLC (together with its Affiliates), Blackwell or RA Capital (or its Affiliates) in any entity competitive with the Company,
or (ii) actions taken by any partner, officer, employee or other representative of Sands Capital Ventures, LLC (or its Affiliates), PBM ACU Holdings, LLC (together with its Affiliates), PBM ACU Holdings II, LLC (together with its Affiliates),
Blackwell or RA Capital (or its Affiliates) to assist any such competitive company, whether or not such action was taken as a member of the board of directors of such competitive company or otherwise, and whether or not such action has a detrimental
effect on the Company; provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the Company’s confidential information obtained pursuant to this
Agreement, or (y) any director or officer of the Company from any liability associated with his or her fiduciary duties to the Company. 

5.9    Side Letters. The Company agrees and covenants that it will promptly notify (and provide a copy to) RA
Capital and Sands Capital if it enters into any separate agreements or side letters with any other shareholder of the Company or an affiliate of any such shareholder (other than the Transaction Agreements (as defined in the Purchase Agreement) and
employment related agreements in the ordinary course). 
 5.10    Termination of Covenants. The covenants set
forth in this Section 5, except for Section 5.6, shall terminate and be of no further force or effect (i) immediately before the consummation 

  
 19 

 
of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation
Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first. 

6.    Miscellaneous. 

6.1    Successors and Assigns. The rights under this Agreement may be assigned (but only with all related
obligations) by a Holder to a transferee of Registrable Securities that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member or trust for the benefit of an individual Holder or one or more of such Holder’s
Immediate Family Members; or (iii) after such transfer, holds shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations); provided, however, that
(x) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable Securities with respect to which such rights are being transferred; and (y) such
transferee agrees in a written instrument delivered to the Company to be bound by and subject to the terms and conditions of this Agreement, including the provisions of Section 2.11. For the purposes of determining the number of shares
of Registrable Securities held by a transferee, the holdings of a transferee (1) that is an Affiliate or stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust for the benefit of an
individual Holder or such Holder’s Immediate Family Member shall be aggregated together and with those of the transferring Holder; provided further that all transferees who would not qualify individually for assignment of rights shall, as a
condition to the applicable transfer, establish a single attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking any action under this
Agreement. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party
other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein. 

6.2    Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard
to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

6.3    Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g.,
www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

6.4    Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not
to be considered in construing or interpreting this Agreement. 
 6.5    Notices. 

(a)    All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be
deemed effectively given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail or facsimile during the recipient’s normal business hours, and if not sent
during normal business hours, then on the recipient’s next business day; (iii) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one business day after the business
day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery, with written verification of 

  
 20 

 
receipt. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A hereto, or to the principal office of the Company and to the attention of
the Chief Executive Officer, in the case of the Company, or to such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Section 6.5. address as subsequently modified by
written notice given in accordance with this Section 6.5. If notice is given to the Company, a copy (which shall not constitute notice) shall also be sent to Cooley LLP, 1299 Pennsylvania Avenue NW, Suite 700, Washington, DC 20004,
Attention: Brooke Nussbaum. If notice is given to Investors, a copy (which shall not constitute notice) shall also be sent to Wilson Sonsini Goodrich & Rosati, Professional Corporation, 28 State Street, 37th Floor, Boston, MA 02109,
Attention: Jennifer Fang. 
 (b)    Consent to Electronic Notice. Each Investor consents to the delivery of any
stockholder notice pursuant to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (or any successor thereto) at the
electronic mail address or the facsimile number set forth below such Investor’s name on the Schedule hereto, as updated from time to time by notice to the Company, or as on the books of the Company. To the extent that any notice given by means
of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted electronic notice shall be
ineffective and deemed to not have been given. Each Investor agrees to promptly notify the Company of any change in such stockholder’s electronic mail address, and that failure to do so shall not affect the foregoing. 

6.6    Amendments and Waivers. Any term of this Agreement may be amended, modified or terminated and the observance
of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of (i) the Company and (ii) the holders of at least 67% of the shares of
Common Stock issued or issuable upon conversion of the shares of Series B Preferred Stock held by the Investors (voting together as a single class), excluding any Common Stock issued upon conversion of the Series B Preferred Stock pursuant to the
“Special Mandatory Conversion” provisions of the Certificate of Incorporation.; provided that the Company may in its sole discretion waive compliance with Section 2.12(c) (and the Company’s failure to object
promptly in writing after notification of a proposed assignment allegedly in violation of Section 2.12(c) shall be deemed to be a waiver); and provided further that any provision hereof may be waived by any waiving party on
such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing, (a) this Agreement may not be amended, modified or terminated and the observance of any term hereof may not be waived with respect to any
Investor without the written consent of such Investor, unless such amendment, modification, termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions of Section 4 with respect to
a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such
transaction) and (b) Sections 3.1 and 3.2, Section 4 and any other section of this Agreement applicable to the Major Investors (including this clause (b) of this Section 6.6) may not be amended,
modified, terminated or waived without the written consent of the holders of a majority of the Registrable Securities then outstanding and held by the Major Investors. Notwithstanding the foregoing, Schedule A hereto may be amended by the
Company from time to time to add transferees of any Registrable Securities in compliance with the terms of this Agreement without the consent of the other parties; and Schedule A hereto may also be amended by the Company after the date of
this Agreement without the consent of the other parties to add information regarding any additional Investor who becomes a party to this Agreement in accordance with Section 6.9. Any amendment, modification, termination, or waiver
effected in accordance with this Section 6.6 shall be binding on all parties hereto, regardless of whether any such party has consented thereto. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any
one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision. 

  
 21 

 6.7    Severability. In case any one or more of the provisions
contained in this Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or
unenforceable provision shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 

6.8    Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliates shall be
aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves in any manner they deem appropriate. 

6.9    Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company issues
additional shares of the Company’s Preferred Stock after the date hereof, whether pursuant to the Purchase Agreement or otherwise, any purchaser of such shares of Preferred Stock may become a party to this Agreement by executing and delivering
an additional counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” for all purposes hereunder. No action or consent by the Investors shall be required for such joinder to this Agreement by such
additional Investor, so long as such additional Investor has agreed in writing to be bound by all of the obligations as an “Investor” hereunder. 

6.10    Entire Agreement. This Agreement (including any Schedules and Exhibits hereto) constitutes the full and
entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled. Upon the effectiveness
of this Agreement, the Prior Agreement shall be deemed amended and restated and superseded and replaced in its entirety by this Agreement, and shall be of no further force or effect. 

6.11    Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction
of the state courts of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to
commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware, and (c) hereby waive, and agree not to assert, by
way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that
the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. 

6.12    Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party
under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any
such breach or default, or to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under
this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative. 

  
 22 

 6.13    Special Mandatory Conversion. In the event that the
Series B Preferred Stock held by an Investor is converted into Common Stock (the “Converted Stock”) pursuant to the “Special Mandatory Conversion” provisions of the Certificate of Incorporation, such Investor shall cease
to be entitled to any of the rights and privileges granted to an Investor or Major Investor pursuant to this Agreement with respect to such shares of Converted Stock. 

[Remainder of Page Intentionally Left Blank] 

  
 23 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	COMPANY:
	
	ACUMEN PHARMACEUTICALS, INC. 
		
	By:	 	 /s/ Daniel J. O’Connell

	Name:	 	Daniel J. O’Connell
	Title:	 	Chief Executive Officer

 
			
		
	Address:	 	     427 Park Street

    Charlottesville, VA 22902

	
	E-Mail: doconnell@acumenpharm.com

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Joseph Andrasko

	Joseph Andrasko

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	ARROCHAR INVESTMENTS LLC
		
	By:	 	 /s/ John Macfarlane

	Name:	 	John Macfarlane
	Title:	 	Managing Member

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	BLACKROCK HEALTH SCIENCES TRUST
		
	By:	 	BlackRock Advisors, LLC, its Investment Adviser

 
			
		
	By:	 	 /s/ Hongying Erin Xie

	Name:	 	Hongying Erin Xie
	Title:	 	Managing Director
	
	BLACKROCK HEALTH SCIENCES TRUST II

 
			
	By:	 	BlackRock Advisors, LLC, its Investment Adviser

 
			
		
	By:	 	 /s/ Hongying Erin Xie

	Name:	 	Hongying Erin Xie
	Title:	 	Managing Director

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	BLACKWELL PARTNERS LLC – SERIES A
		
	By:	 	 /s/ Abayomi A. Adigun

	Name:	 	Abayomi A. Adigun
	Title:	 	Investment Manager
		 	DUMAC, Inc., Authorized Signatory
		
	By:	 	 /s/ Jannine M. Lall

	Name:	 	Jannine M. Lall
	Title:	 	Head of Finance & Controller
		 	DUMAC, Inc., Authorized Signatory

 
			
		
	Address:	 	 Blackwell Partners LLC – Series A

		 	 280 S. Mangum Street

		 	 Suite 210

		 	 Durham, NC 27701

		 	 Attn: Jannine Lall

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Frank A. Bonsal, Jr.

	Frank A. Bonsal, Jr.

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	BIOTECHNOLOGY VALUE FUND, LP
	By:	 	BVF Partners, L.P., its general partner
	By:	 	BVF, Inc., its general partner

 
			
		
	By:	 	 /s/ Mark N. Lampert

	Name:	 	Mark N. Lampert
	Title:	 	President
	
	INVESTMENT 10, LLC

 
			
	By:	 	BVF Partners, L.P., its attorney-in-fact
	By:	 	BVF, Inc., its general partner

 
			
		
	By:	 	 /s/ Mark N. Lampert

	Name:	 	Mark N. Lampert
	Title:	 	President
	
	BIOTECHNOLOGY VALUE FUND II, LP

 
			
	By:	 	BVF Partners, L.P., its general partner
	By:	 	BVF, Inc., its general partner

 
			
		
	By:	 	 /s/ Mark N. Lampert

	Name:	 	Mark N. Lampert
	Title:	 	President
	
	BVF INVESTMENTS, L.L.C.

 
			
	By:	 	BVF Partners, L.P., its manager
	By:	 	BVF, Inc., its general partner

 
			
		
	By:	 	 /s/ Mark N. Lampert

	Name:	 	Mark N. Lampert
	Title:	 	President

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Alex Casdin

	Alex Casdin

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	CHARLOTTESVILLE AREA COMMUNITY FOUNDATION
		
	By:	 	 /s/ Jan
Dorman                            

	Name:	 	Jan Dorman
	Title:	 	Director of Finance

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	CLELAND FAMILY III, LLC
		
	By:	 	 /s/ Bruce Cleland

	Name:	 	Bruce Cleland
	Title:	 	Managing Partner

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	 /s/ Terrence D.
Daniels                                        

	Terrence D. Daniels
	
	TERRENCE D. DANIELS 2008 CHILDREN’S TRUST
		
	By:	 	 /s/ Terrence D.
Daniels                            

	Name:	 	Terrence D. Daniels
	Title:	 	Trustee
	
	TERRENCE D. DANIELS 2010 GRANDCHILDREN’S TRUST
		
	By:	 	 /s/ Terrence D. Daniels

	Name:	 	Terrence D. Daniels
	Title:	 	Trustee

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Tim Davis

	 Tim Davis

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	EUGENE V. FIFE REVOCABLE TRUST DTD APRIL 24, 2002
		
	By:	 	 /s/ Eugene V. Fife

	Name:	 	Eugene V. Fife
	Title:	 	Trustee

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Caleb Finch

	Caleb Finch

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	GLYNN INVESTMENT COMPANY, LLC
		
	By:	 	 /s/ John Glynn

	Name:	 	John Glynn
	Title:	 	Chief Executive

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Philip Goelet

	Philip Goelet

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	H7 HOLDINGS, LLC
		
	By:	 	 /s/ Robert Hardie

	Name:	 	Robert Hardie
	Title:	 	Co-Chairman and CEO

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 MARK J. KINGTON & ANN KINGTON
TBE
 c/o Dyson Capital Advisors, LLC

	
	 /s/ Mark J. Kington

	Mark J. Kington
	
	 /s/ Ann Kington

	Ann Kington

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	KNOLLWOOD INVESTMENT FUND LLC
		
	By:	 	 /s/ Kevin D. Irwin, Jr.

	Name:	 	Kevin D. Irwin, Jr.
	Title:	 	President of Managing Member

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	MARC D. KOZIN IRREVOCABLE TRUST, DONNA M. KOZIN, TRUSTEE
		
	By:	 	 /s/ Donna M. Kozin

	Name:	 	Donna M. Kozin
	Title:	 	Trustee

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Grant A. Krafft

	Grant A. Krafft

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	LEVEL ONE PARTNERS, LLC
		
	By:	 	 /s/ Robert Hardie

	Name:	 	Robert Hardie
	Title:	 	Manager

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ John L. Lewis IV

	John L. Lewis IV

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	DAVID V MILLIGAN TRUST DATED OCT 19, 1991
		
	By:	 	 /s/ David Milligan

	Name:	 	David Milligan
	Title:	 	Trustee

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	MRW BLIND TRUST
	c/o Dyson Capital Advisors, LLC
		
	By:	 	 /s/ Nicholas Perrins

	Name:	 	Nicholas Perrins
	Title:	 	Trustee

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Edward Meigs

	Edward Meigs

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	JAMES B. MURRAY, JR. REVOCABLE TRUST U/A/D 8/5/1991
		
	By:	 	 /s/ James B. Murray, Jr.

	Name:	 	James B. Murray, Jr.
	Title:	 	Trustee

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	NEUROVENTURES CAPITAL LLC
		
	By:	 	 /s/ Daniel O’Connell

	Name:	 	Daniel O’Connell
	Title:	 	Managing Member

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	 PBM ACU HOLDINGS, LLC

By PBM Capital Group, LLC, its manager

		
	By:	 	 /s/ Paul B. Manning

	Name:	 	Paul B. Manning
	Title:	 	CEO
		
	Date:	 	11/20/2020
	
	 PBM ACU HOLDINGS II, LLC

By: PBM Capital Group, LLC, its manager

		
	By:	 	 /s/ Paul B. Manning

	Name:	 	Paul B. Manning
	Title:	 	CEO
		
	Date:	 	11/20/2020

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	PRAXIS TECHNOLOGIES L.P.
		
	By:	 	 /s/ James B. Murray, Jr.

	Name:	 	James B. Murray, Jr.
	Title:	 	Manager

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	PROTECTIVE INSURANCE COMPANY INC.
		
	By:	 	 /s/ Mark McNeill

	Name:	 	Mark McNeill
	Title:	 	Financial Reporting Manager

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	RA CAPITAL HEALTHCARE FUND, L.P.
	
	 By: RA Capital Healthcare Fund GP, LLC

Its General Partner

		
	By:	 	 /s/ Rajeev Shah

	Name:	 	Rajeev Shah
	Title:	 	Manager
		
	Address:	 	 RA Capital Management, L.P.

200 Berkeley Street
 18th Floor
 Boston, MA 02116

Attn: General Counsel

	
	RA CAPITAL NEXUS FUND II, L.P.
	By: RA Capital Nexus Fund II GP, LLC
	Its: General Partner
		
	By:	 	 /s/ Rajeev Shah

	Name:	 	Rajeev Shah
	Title:	 	Manager
		
	Address:	 	 RA Capital Management, L.P.

200 Berkeley Street
 18th Floor
 Boston, MA 02116

Attn: General Counsel

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	R3 CAPITAL STRATEGIES, LLC
		
	By:	 	 /s/ Robert Brown

	Name:	 	Robert Brown
	Title:	 	Owner

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Dru Rasmussen

	Dru Rasmussen

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	ROCK SPRINGS CAPITAL MASTER FUND LP
	
	By: Rock Springs General Partner LLC, its General Partner
		
	By:	 	 /s/ Mark Bussard

	Name:	 	Mark Bussard
	Title:	 	Member
	
	FOUR PINES MASTER FUND LP
	By: Four Pines General Partner LLC, its General Partner
		
	By:	 	 /s/ Mark Bussard

	Name:	 	Mark Bussard
	Title:	 	Member

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	SANDS CAPITAL LIFE SCIENCES PULSE FUND, LLC
		
	By:	 	 /s/ Jonathan Goodman

	Name:	 	Jonathan Goodman
	Title:	 	General Counsel
	
	SANDS CAPITAL GLOBAL VENTURE FUND II, L.P.
	
	 By: Sands Capital Global Venture Fund II-GP, L.P., Its

General Partner

	
	By: Sands Capital Global Venture Fund II-GP, LLC, Its General Partner
		
	By:	 	 /s/ Jonathan Goodman

	Name:	 	Jonathan Goodman
	Title:	 	General Counsel
	
	SANDS CAPITAL VENTURES DISCOVERY FUND III, L.P.
	
	 By: Sands Capital Ventures Discovery Fund III-GP, LLC,

its general partner

		
	By:	 	 /s/ Jonathan Goodman

	Name:	 	Jonathan Goodman
	Title:	 	General Counsel

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ David Summa

	David Summa

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Hans Utsch

	Hans Utsch

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	VALINCO INVESTMENTS LIMITED
		
	By:	 	 /s/ A.H.D. Weldon

	Name:	 	A.H.D. Weldon
	Title:	 	Director

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Spencer Wheeler

	Spencer Wheeler

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

	
	INVESTOR:
	
	 /s/ Wm Matthew Zuga

	Wm Matthew Zuga

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	MIDDLELAND ENDOWMENT I, LLC
		
	By:	 	 /s/ Arthur X. Duffy

	Name:	 	Arthur X. Duffy
	Title:	 	Manager

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	DALTON TRUST - 1995
		
	By:	 	 /s/ David P. Mixer

	Name:	 	David P. Mixer
	Title:	 	Trustee

  

SIGNATURE PAGE TO AMENDED AND RESTATED
INVESTORS’ RIGHTS AGREEMENT 

 SCHEDULE A 

INVESTORSEX-10.1

 Exhibit 10.1 
  

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE
THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 AMENDED AND RESTATED COLLABORATION AGREEMENT 

This AMENDED AND RESTATED COLLABORATION AGREEMENT (the “Agreement”), effective as of December 22, 2003, as amended and
restated as of October 18, 2006 (the “Amendment Effective Date”), is made by and between Acumen Pharmaceuticals Inc., a Delaware corporation, having a principal place of business at 385 Oyster Point Blvd, Suite 9A, South San
Francisco, CA 94080 (“Acumen”), and Merck & Co., Inc., a New Jersey corporation, having a principal place of business at One Merck Drive, Whitehouse Station, NJ 08889-0100 (“Merck”). Acumen and Merck are
sometimes referred to herein, individually, as a “Party” and, collectively, as the “Parties”. 

BACKGROUND 
 A. Acumen
possesses certain technology related to amyloid beta-derived diffusible ligands and the uses thereof; 
 B. Merck is a leader in the research
and development of pharmaceutical products; 
 C. Acumen and Merck wish to collaborate to research, discover, and develop Products in the
Therapeutic Field (as those terms are defined below); and 
 D. Merck wishes to acquire an exclusive license to develop and commercialize
Products resulting from the collaboration, as well as certain other rights to the results of the collaboration, and Acumen wishes to grant to Merck such license, all on the terms and conditions set forth herein below. 

E. Effective December 22, 2003 (the “Effective Date”), Acumen and Merck entered into the “Collaboration
Agreement” (the “Collaboration Agreement”) to achieve these goals; and 
 F. Acumen and Merck previously amended
Section 6.1 of the Collaboration Agreement effective May 20, 2004, and wish to incorporate that amendment in this Agreement; and 

G. Acumen and Merck desire to further amend the Collaboration Agreement to provide Merck with an exclusive license under Acumen Diagnostic IP,
and to make changes to the prosecution and maintenance of the Acumen Patent Rights; 
 NOW, THEREFORE, for and in consideration of the
covenants, conditions and undertakings hereinafter set forth, it is agreed by and between the Parties as follows: 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 ARTICLE 1 

DEFINITIONS 
 As used
herein, the following terms, whether in the singular or plural, will have the meanings set forth below when capitalized in this Agreement: 

1.1 “Act” shall mean, as applicable, the United States Federal Food, Drug and Cosmetic Act, 21 U.S.C. §§ 301
et seq., and/or the Public Health Service Act, 42 U.S.C. §§ 262 et seq., as such may be amended from time to time. 
 1.2
“Acumen Diagnostic IP” shall mean all Acumen Diagnostic Know-How and Acumen Diagnostic Patent Rights. . 

1.2.1 “Acumen Diagnostic Know-How” shall mean Know-How that is Controlled by Acumen or its Controlled Affiliates as of the Effective Date, or thereafter during the Research Term, and that is necessary or useful to research, discover, develop, make, have made,
use, import, sell or offer to sell Diagnostic Products in the Diagnostic Field in the Territory. 
 1.2.2 “Acumen Diagnostic Patent
Rights” shall mean, subject to Section 9.2.2(b), Patent Rights that are Controlled by Acumen or its Controlled Affiliates as of the Effective Date, or during the Term, and are necessary or useful to research, discover, develop,
make, have made, use, import, sell or offer to sell Diagnostic Products in the Diagnostic Field in the Territory. 
 1.3
“Acumen-Owned ADDL Antibodies” shall mean ADDL Antibodies created by or on behalf of Acumen, or licensed to Acumen pursuant to the Northwestern License or the USC License. 

1.4 “Acumen Technology” shall mean, collectively, the Acumen Patent Rights and Acumen
Know-How. 
 1.4.1 “Acumen Patent Rights” shall mean, subject to
Section 9.2.2(b), Patent Rights that (i) are Controlled by Acumen or its Controlled Affiliates as of the Effective Date and are necessary or useful to perform the Research Program, or to research, discover, develop, make, have made, use,
import, sell and offer to sell Products within the Therapeutic Field and Territory, including but not limited to the Patent Rights licensed to Acumen pursuant to the Northwestern License and the USC License, and the Patent Rights listed in
Exhibit 1.3; or (ii) claim an Invention that was invented or created by or on behalf of Acumen during the Research Term in its performance of the Research Program; or (iii) are Controlled by Acumen or its Controlled Affiliates
during the Term and claim the composition or use of an ADDL Antigen or an ADDL Antibody. 
 1.4.2 “Acumen Know-How” shall mean the Know-How Controlled by Acumen or its Controlled Affiliates as of the Effective Date, or thereafter during the Research Term, that
(i) was invented or created by or on behalf of Acumen in its performance of the Research Program; or (ii) is necessary or useful to perform the Research Program or to research, discover, develop, make, have made, use, offer for sale,
import or sell ADDL Antibodies or Products, or (upon exercise of the Vaccine Option) ADDL Antigens, within the Therapeutic Field and Territory. 

  
 -2- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 1.5 “ADDL Antibody” shall mean [***]. 

1.6 “ADDL Antigen” shall mean [***]. 

1.7 “ADDL Surrogate” shall mean [***]. 

1.8 “ADDL” or “Amyloid Beta-Derived Diffusible Ligand” shall mean [***]. 

1.9 “ADDL-Related Condition” shall mean any human medical condition, state or indication that is caused by ADDLs or for
which ADDL is a contributing factor, such as without limitation, Alzheimer’s disease, Down’s Syndrome, and Mild Cognitive Impairment. 

1.10 “Affiliate” shall mean (i) any corporation or business entity of which fifty percent (50%) (or the maximum
ownership interest permitted by law) or more of the equity, voting stock, or of the ownership interests representing the general partnership interest, are owned, directly or indirectly, by Merck or Acumen, but only so long as such ownership exists;
or (ii) any corporation or business entity which, directly or indirectly, owns fifty percent (50%) (or the maximum ownership interest permitted by law) or more of the equity, voting stock, or of the ownership interests representing, if
applicable, the general partnership interest, of Merck or Acumen, but only so long as such ownership exists; or (iii) any corporation or business entity of which fifty percent (50%) (or the maximum ownership interest permitted by law) or more
of equity, voting stock, or of the ownership interests representing the general partnership interest, are owned, directly or indirectly, by a corporation or business entity described in (ii), but only so long as such ownership exists. A
“Controlled Affiliate” shall mean a corporation or business entity of which greater than fifty percent (50%) of the equity, voting stock, or of the ownership interests representing the general partnership interest, are owned,
directly or indirectly, by Merck or Acumen, but only so long as such ownership exists. 
 1.11 “Antibody Product”
shall mean a pharmaceutical preparation that contains one or more ADDL Antibodies for application in the Therapeutic Field and is (i) for administration to human patients in a Clinical Trial, or (ii) for sale by prescription, over the
counter, or any other method. Notwithstanding the foregoing, a pharmaceutical preparation shall not be considered an Antibody Product if it is a Vaccine Product, is intended for use in the Diagnostic Field, or it contains a Small Molecule. 

1.12 “Antibody” shall mean (i) an immunoglobulin protein or similar immune-derived, antigen-binding protein,
(ii) a fragment of such immunoglobulin protein or similar immune-derived, antigen-binding protein (e.g., Fab fusion proteins), or (iii) an immune-derived antigen-binding fusion protein (e.g., Fc fusion protein) or other modified protein
construct, which in each case has an antigen-binding region that has specific binding affinity for the antigen to which the same is directed. For clarity, the antigen-binding region of any such protein may be obtained by (A) conventional
immunization of animals with the particular antigen of interest and/or one or more other antigens able to cross react with such particular antigen, (B) lymphocyte cultures with the particular antigen of interest and/or one or more other
antigens able to cross react with such particular antigen, (C) affinity selection from libraries of variable or hypervariable domains with the particular antigen of interest and/or one or more other antigens able to cross react with such
particular antigen, or (D) genetic engineering of such proteins derived pursuant to (A), (B) or (C). 

  
 -3- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 1.13 “Biological” shall mean: (i) an Antibody; and/or
(ii) any other peptide, peptide that is genetically or chemically fused to a stabilizing protein, peptide aptamer, protein, protein-construct, fusion protein, including without limitation purified protein, lipoprotein, glycoprotein, and/or
nucleotide aptamer consisting of either modified or unmodified DNA or RNA sequences, including without limitation single-stranded or double-stranded or a combination of both. 

1.14 “Calendar Quarter” shall mean the respective periods of three (3) consecutive calendar months ending on
March 31, June 30, September 30 and December 31. 
 1.15 “Calendar Year” shall mean each successive
period of twelve (12) months commencing on January 1 and ending on December 31. 
 1.16 “Change of Control”
shall mean, with respect to a Party, any transaction or series of related transactions that constitute: (i) the sale of all or substantially all of such Party’s business or assets to an acquiring entity; (ii) any merger,
consolidation, share exchange, recapitalization, business combination or other transaction to which such Party is subject resulting in the exchange of the outstanding shares of such Party for securities or consideration issued, or caused to be
issued, by the acquiring entity; or (iii) an acquiring entity having obtaining beneficial ownership of fifty percent (50%) or more of the outstanding voting securities of such Party; unless in any of cases (i), (ii) or (iii) the
stockholders of such Party as of the date prior to the closing date of such transaction or series of related transactions hold more than fifty percent (50%) of the voting securities in the surviving entity in such transaction or its parent
outstanding immediately after the closing of such transaction or series of transactions. 
 1.17 “Clinical Trial”
shall mean (i) any clinical trial involving the administration of a Product to a human subject for the purpose of evaluating the safety, efficacy, performance or other characteristic of such Product, including a Phase I Trial, Phase II Trial,
and/or Phase III Trial; or (ii) commencement of GLP trials directed to obtaining data sufficient for filing under Section 510(k) of the Food, Drug and Cosmetics Act for the Regulatory Authority approval for a Diagnostic Product. 

1.18 “Combination Product” shall mean (i) an Antibody Product that contains at least one therapeutically active
ingredient other than an ADDL Antibody; or (ii) a Vaccine Product that contains at least one therapeutically active ingredient and/or at least one antigen other than an ADDL Antigen. 

1.19 “Controlled” shall mean, with respect to particular Patent Rights or
Know-How, possession of the power and authority to grant or authorize a license or sublicense of, or within, the scope provided for herein with respect to such Patent Rights or
Know-How, without violating the agreement or arrangement with a Third Party under which such Patent Rights or Know-How was first acquired or created by the Party
granting or authorizing the license or sublicense. 

  
 -4- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 1.20 “Derivative Patents” shall mean Patent Rights Controlled by
Merck or its Controlled Affiliates that (i) claim an Invention that was invented or created by or on behalf of Merck (A) during the Research Term in researching or developing ADDL Antibodies, ADDL Antigens and/or Product or
(B) otherwise at any time using Confidential Information obtained by Merck or its Controlled Affiliates from Acumen; and (ii) are reasonably necessary to develop or commercialize a product that does not contain an ADDL Antibody or ADDL
Antigen and is intended for the Treatment of an ADDL-Related Condition. For purposes of this Section 1.19, a Patent Rights shall be considered “reasonably necessary” if at any time there is no reasonably practical alternative to
practicing the Patent Rights under the circumstances, considering both commercial and technical factors. 
 1.21 “Diagnostic
Field” shall mean the identification, diagnosis or prognosis of any ADDL-Related Condition including, without limitation, (i) quantification of ADDLs; (ii) identification of a predisposition for an ADDL-Related Condition;
(iii) diagnosis, detection or confirmation of the presence or absence of an ADDL-Related Condition; (iv) therapeutic or dosage selection, prediction or monitoring of therapeutic response, effectiveness or safety (including determination of
predisposition for adverse reactions to particular therapeutics or dosages), or (v) stratification or selection of individuals for treatments directed at ADDL-Related Conditions, in each case whether by determination of an individual’s
genetic makeup or otherwise. It is understood that no portion of the Therapeutic Field shall be considered to be included in the Diagnostic Field. 

1.22 “Diagnostic IP” shall mean, with respect to Acumen, the Acumen Diagnostic IP and, with respect to Merck, the Merck
Diagnostic IP. 
 1.23 “Diagnostic Product” shall mean any product, kit or other application for use in the
Diagnostic Field and which is covered by, claimed in, or makes use of (i) the Acumen Diagnostic IP; (ii) the Joint Inventions in the Diagnostic Field; or (iii) the Merck Diagnostic IP. 

1.24 “Diagnostic Received Revenue” shall mean revenue received by Merck or its Affiliates for Diagnostic Products other
than Net Sales by Merck, its Affiliates or Sublicensees. 
 1.25 “Filing” shall mean, with respect to an MAA
submitted to a Regulatory Authority, that such Regulatory Authority has accepted such MAA for substantive review. 
 1.26 “First
Commercial Sale” shall mean, with respect to any Product, the first bona fide commercial sale of such Product in any country by or under authority of any of Merck, its Affiliates, or Sublicensees. 

1.27 “Full Time Equivalent” or “FTE” shall mean the equivalent of a full-time scientist’s
work time over a twelve-month period (including normal vacations, sick days and holidays) on or directly related to the Research Program. The portion of an FTE year devoted by a scientist to the Research Program shall be determined by dividing the
number of hours during any Calendar Year devoted by such scientist to the Research Program by the total number of working hours during such Calendar Year. 

1.28 “GLP” or “Good Laboratory Practice” shall mean the applicable then-current standards for
laboratory activities for pharmaceuticals, as set forth in the Act and regulations or guidance documents promulgated thereunder, as amended from time to time, together with similar standards of good laboratory practice as are required by any
Regulatory Authority in the Territory. 

  
 -5- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 1.29 “Invention” shall mean any process, method, composition of
matter, article of manufacture, discovery, or finding, as defined pursuant to United States patent law. 
 1.30 “Joint
Invention” shall mean an Invention invented or created jointly by employees and/or agents of Acumen and employees and/or agents of Merck during the Research Term. 

1.31 “Joint Patent Rights” shall mean those Patent Rights to the extent claiming a Joint Invention. 

1.32 “Know-How” shall mean all data, Inventions, discoveries, findings,
methods, information, processes, techniques and technology (whether or not patentable), including, but not limited to, formulae, materials, including biological materials, practices, methods, knowledge,
know-how, processes, experience, test data (including pharmacological, toxicological and clinical information and test data, and related reports, statistical analyses, expert opinions and the like), analytical
and quality control data, marketing, which in all cases are not generally known, and the trade secret rights to the foregoing. As used herein, Know-How shall not include Patent Rights. 

1.33 “MAA” or “Marketing Authorization Application” shall mean, with respect to a particular
Product and jurisdiction, a marketing authorization application (including or comparable to a Biologics License Application (BLA) in the United States as defined under the Act and regulations or guidance documents promulgated thereunder) filed with
the requisite Regulatory Authorities in such jurisdiction, and applying for approval to market and/or commercialize such Product in such jurisdiction for the Therapeutic Field. 

1.34 “Major Market” shall mean any one of the following countries: [***]. 

1.35 “Major Pharma Change of Control” shall mean a Change of Control in which a Major Pharma Entity obtains control of
Acumen by acquiring Acumen’s assets or voting equity securities (by asset purchase, merger, consolidation, reorganization or otherwise). 

1.36 “Major Pharma Entity” shall mean any health care company, or group of health care companies acting in concert to
effect a Change of Control of Acumen, for whom the worldwide sales of pharmaceutical products (collectively in the case of such a group of companies) in the Calendar Year that preceded the Change of Control is in excess of [***], as reported by such
entity or group or as reported by IMS America Ltd. of Plymouth Meeting, Pennsylvania (“IMS”) or any successor to IMS. 

1.37 “Marketing Authorization” shall mean all approvals, including licenses, registrations and authorizations, of all
governmental agencies in a jurisdiction necessary for the development, manufacture, use or sale of a Product in the applicable jurisdiction, including any pricing or reimbursement approval necessary to sell Product in the applicable jurisdiction.

 1.38 “Merck Diagnostic IP” shall mean all Merck Diagnostic Patent Rights and Merck Diagnostic Know-How. 

  
 -6- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 1.38.1 “Merck Diagnostic
Know-How” shall mean, Know-How that is developed by or on behalf of Merck or its Controlled Affiliates during the Research Term in its performance of the
Research Program, and are reasonably necessary to research, discover, develop, make, have made, use, import, sell or offer to sell Diagnostic Products. For the purpose of this Section 1.38.1, Know-How
shall be considered “reasonably necessary” if at any time there is no reasonably practical alternative to practicing the Know-How under the circumstances, considering both commercial and technical
factors. 
 1.38.2 “Merck Diagnostic Patent Rights” shall mean the Patent Rights owned by, or exclusively licensed by
a Third Party or an Affiliate of Merck, to Merck or its Controlled Affiliates during the Term that claim an Invention that (i) was invented or created by or on behalf of Merck or its Controlled Affiliates during the Research Term in its
performance of the Research Program in the Diagnostic Field and (ii) claim the composition or use of an ADDL Antigen, an ADDL Antibody, an Antibody Product, or a Vaccine Product. 

1.39 “Merck Patent Rights” shall mean the Patent Rights owned by, or exclusively licensed by a
Third Party or an Affiliate of Merck, to Merck or its Controlled Affiliates during the Term that (i) claim an Invention that was invented or created by or on behalf of Merck during the Research Term in its performance of the Research Program
and (ii) claim the composition or use of an ADDL Antigen, an ADDL Antibody, an Antibody Product, or a Vaccine Product. 
 1.40
“Net Sales” shall mean the total amount invoiced for Products sold by Merck, its Affiliate, or Sublicensee to Third Parties, less reasonable and customary deductions for the following [***] 

[***] 
 With respect to the sales
in a Calendar Quarter of Combination Products that are Antibody Products, [***] 
 Net Sales for Combination Products that are Vaccine
Products [***] 
 1.41 “Northwestern License” shall mean the certain license agreement entered into between
Northwestern University and Acumen as of March 6, 2000, as amended prior to the Amendment Effective Date; a copy of which is attached to this Agreement as Exhibit 1.40. 

1.42 “Patent Rights” shall mean any and all rights under any of the following, whether existing now or in the future:
(i) a domestic, international or foreign patent, utility model, design registration, certificate of invention, patent of addition or substitution, or other governmental grant for the protection of inventions or industrial designs anywhere in
the world, including any reissue, renewal, re-examination or extension thereof; and (ii) any application for any of the foregoing, including any international, provisional, divisional, continuation, continuation-in-part, or continued prosecution application. 
 1.43
“Phase I Trial” shall mean any human clinical trial, the principal purpose of which is preliminary determination of safety in healthy individuals or patients as required under 21 CFR 312.21(a), as such
regulation may be subsequently modified, or similar clinical study in a country other than the United States, and for which there are no primary endpoints relating to efficacy in the protocol. 

  
 -7- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 1.44 “Phase II Trial” shall mean any human clinical
trial which provides for clinical studies conducted on a limited number of patients for the purpose of preliminary evaluation of clinical efficacy and safety, and/or to obtain an indication of the dosage regimen required as required under 21 CFR
312.21(b), as such regulation may be subsequently modified, or similar clinical study in a country other than the United States. 
 1.45
“Phase III Trial” shall mean any human clinical trial, the principal purpose of which is to establish safety and efficacy in patients with the disease being studied as required under 21 CFR 312.21(c), as such
regulation may be subsequently modified, or similar clinical study in a country other than the United States. Phase III Trial shall also include a human clinical trial that has been designated by Merck as a pivotal trial whether or not such trial is
a traditional ‘Phase III’ clinical trial, as shown in communications with the FDA (or other Regulatory Authority) or meeting minutes of discussions with the FDA (or other Regulatory Authority) (such as a trial which Merck has designated to
the FDA as a Phase II/III trial, a trial for which the protocol has been designated as a Phase II/III protocol, or a trial that Merck has otherwise indicated to the FDA (or other Regulatory Authority) it intends to use for purposes of Phase III).

 1.46 “Pre-Clinical Candidate” shall mean a preparation containing an ADDL
Antibody or ADDL Antigen for which Merck has commenced dosing of the first animal in a study under conditions meeting Good Laboratory Practices, where such study is intended to support an IND filing. 

1.47 “Principal Scientist” shall mean [***] 

1.48 “Product” shall mean (i) an Antibody Product, (ii) a Diagnostic Product, and (iii) upon exercise by
Merck of the Vaccine Option in accordance with Section 5.3, a Vaccine Product. For purposes of this Agreement, each Antibody Product which contains a different ADDL Antibody, each Diagnostic Product which contains a different ADDL Antibody, and
each Vaccine Product which contains a different ADDL Antigen, shall be deemed a different Product. 
 1.49 “Regulatory
Authority” shall mean any federal, national, multinational, state, provincial or local regulatory agency, department, bureau or other governmental entity with authority over the development, manufacture, use or sale (including approval
of Marketing Authorizations) with respect to any Product in any jurisdiction, including the United States Food and Drug Administration, European Medicines Evaluation Agency, the Ministry of Health, Labor and Welfare in Japan. 

1.50 “Research Plan” shall mean the written plan for the Research Program, including Acumen’s budget for
performing its activities under the Research Program, as may be approved, modified or amended from time to time in accordance with this Agreement. 

1.51 “Research Program” shall mean those activities with respect to ADDL’s, ADDL Antibodies and Products
undertaken by the Parties pursuant to Article 3 during the Research Term and as generally described in Section 3.1. 

  
 -8- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 1.52 “Retained Antibody Field” shall mean the conduct of research and/or
development of Small Molecule Products and (upon expiration of the Option Period under Section 5.3.2) the conduct of research and/or development of Vaccine Products. For avoidance of doubt, the Retained Antibody Field shall include without
limitation the right to use Acumen-Owned ADDL Antibodies in the course of conducting such research and/or development of Small Molecule Products and, if applicable, Vaccine Products, for the purposes of (i) quantification of ADDLs; or
(ii) stratification or selection of individuals for clinical trials, therapeutic or dosage selection, prediction or monitoring of therapeutic response, or effectiveness or safety of Small Molecule Products and, if applicable, Vaccine Products
(including determination of predisposition for adverse reactions to particular therapeutics or dosages). 
 1.53 “Small
Molecule” shall mean (i) a molecule that has a molecular weight less than or equal to 1500 daltons, or (ii) a conjugation of such a molecule if such molecule having a molecular weight of 1500 daltons or less, absent such a
conjugation, would be therapeutically active in the Treatment of ADDL-Related Conditions. 
 1.54 “Small Molecule Products”
shall mean a pharmaceutical product in the Therapeutic Field comprising a Small Molecule. 
 1.55 “Sublicensee” shall
mean, with respect to a particular Product, a Third Party to whom Merck has granted the right to make and/or sell such Product, but shall not include Third Party distributors except as set forth below. [***] For purposes of this Agreement,
the grant of the foregoing rights shall be deemed a “sublicense.” 
 1.56 “Territory” shall mean all of the
countries of the world, and their territories and possessions. 
 1.57 “Therapeutic Field” shall
mean Treatment of any and all human medical conditions or indications, including without limitation ADDL-Related Conditions. It is understood that no portion of the Diagnostic Field shall be considered to be included in the Therapeutic Field. 

1.58 “Third Party” shall mean any person or entity other than Acumen, Merck, and their respective Affiliates. 

1.59 “Treatment” shall mean, with respect to a particular medical condition or indication, the cure, reduction,
mitigation, prevention, or slowing or halting the progress of such medical condition or indication or of the symptoms thereof. 
 1.60
“USC License” shall mean that certain license agreement entered into between the University of Southern California and Acumen effective as of December 28, 1999, as amended prior to the Amendment Effective Date; a copy of
which is attached to this Agreement as Exhibit 1.57. 
 1.61 “Vaccine Product” shall mean a pharmaceutical
preparation that produces a cellular and/or humoral immune response in a human using one or more ADDL Antigens and is (i) for administration to human patients in Clinical Trials, or (ii) for sale by prescription, over the counter, or any
other method. Notwithstanding the above, a pharmaceutical preparation shall not be considered a Vaccine Product if it is intended for use in the Diagnostic Field or it contains a Small Molecule. 

  
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 1.62 “Valid Patent Claim” shall mean a [***] 

1.63 Additional Definitions. Each of the following definitions is set forth in the Section of this Agreement indicated below:

  

											
	Definition	  	Section	 	  	Definition	  	Section	 
	 Active Program
	  	 	8.1	 	  	Joint Research Committee or JRC	  	 	2.2.1	 
	 Acumen Diagnostic Patents
	  	 	9.2.3	 	  	Late Development Milestone	  	 	6.4.2	 
	 Acumen FTE’s
	  	 	2.2.4	 	  	Liabilities	  	 	12.1	 
	 Acumen Indemnitees
	  	 	12.1	 	  	Licensed Party	  	 	5.4.3	 
	 Antibody Patent
	  	 	6.7.2	 	  	Licensing Party	  	 	5.4.3	 
	 Bankruptcy Code
	  	 	15.15	 	  	Merck Diagnostic Patents	  	 	9.2.3	 
	 Confidential Information
	  	 	10.1	 	  	Merck Indemnitees	  	 	12.2	 
	 Controlling Party
	  	 	9.3.2	 	  	Necessary Patent	  	 	6.7.2	 
	 Cooperating Party
	  	 	9.3.2	 	  	Option Period	  	 	5.3.2	 
	 Development Advisory Committee or DAC
	  	 	4.2.1	 	  	Outside Date	  	 	8.2.1	 
	 Early Development Milestone
	  	 	6.4.2	 	  	Period	  	 	6.7.5	 
	 Excluded Claim
	  	 	14.1.6	 	  	Project Leader	  	 	2.1	 
	 Exercise Date
	  	 	5.3.3	 	  	Prosecution and Maintenance	  	 	9.2.1	 
	 Existing Product
	  	 	13.5.4	 	  	Providers	  	 	3.8	 
	 Extension Date
	  	 	8.2.2	 	  	Research Commencement Date	  	 	3.5	 
	 First Antibody Approval
	  	 	6.4.2	 	  	Research Term	  	 	3.5	 
	 First Vaccine Approval
	  	 	6.4.2	 	  	Retained Products	  	 	13.5.4	 
	 Grantee
	  	 	9.5.2	 	  	Reversion Stage	  	 	13.5.4	 
	 Grantor
	  	 	9.5.2	 	  	Reverted Products	  	 	13.5.4	 
	 Human Materials
	  	 	3.8	 	  	Term	  	 	13.1	 
	 Infringement
	  	 	9.3.1	 	  	Third Party Technology	  	 	9.5.2	 
	 Infringement Action
	  	 	9.3.2	 	  	Vaccine Option	  	 	5.3.1	 
	 JAMS
	  	 	14.1	 	  		  			

 ARTICLE 2 

MANAGEMENT 
 2.1
Project Leaders. Merck and Acumen each shall appoint a person (a “Project Leader”) from the JRC to coordinate its part of the Research Program. The Project Leaders shall be the primary contact between the Parties with
respect to the Research Program. Each Party shall notify the other within thirty (30) days of the date of the Agreement of the name and contact information for its Project Leader and shall so notify the other Party in advance of changing its
Project Leader. 
 2.2 Joint Research Committee. 

2.2.1 Responsibilities. Merck and Acumen will establish a committee (the “Joint Research Committee” or
“JRC”) to oversee, review and recommend direction of the Research Program. The responsibilities of the JRC shall consist of: (i) monitoring and reporting research progress and providing a forum for open and frequent
exchange between the Parties regarding 

  
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Research Program activities; (ii) reviewing relevant data arising during the course and in the performance of the Research Program; (iii) reviewing and commenting on technical issues
and Acumen’s budget relating to the Research Program; (iv) considering issues of priority in performing the Research Program; (v) reviewing and approving annual Research Plans, and (vi) taking such other actions as are
specifically provided for the JRC in this Agreement. 
 2.2.2 Membership. The JRC shall consist of four (4) members, with
each Party selecting two (2) representatives to serve as members of the JRC by written notice to the other Party. At least one member appointed by each Party shall have appropriate technical credentials, experience and knowledge and ongoing
familiarity with the Research Program. Subject to the foregoing, Acumen and Merck may each replace its JRC representatives at any time, upon written notice to the other Party. Each of Merck and Acumen shall identify a lead representative who shall
be responsible for communicating the vote of such Party in decisions of the JRC. In addition, the chairperson of the JRC shall be designated by Merck, and the recording secretary shall be designated by Acumen. The chairperson shall be responsible
for sending notices of meetings of the JRC, shall chair such meetings and [***] based upon the input of both Parties. The secretary shall be responsible for preparing the minutes of the meetings of the JRC. 

2.2.3 Meetings. During the Research Term, the JRC shall meet at least quarterly in person or by videoconference (with two of such
meetings per year being in person), or more frequently as agreed by the Parties, and will otherwise communicate regularly by telephone, electronic mail, facsimile and/or videoconference. The in-person meetings
shall alternate between sites designated by Merck and Acumen, respectively, or such other locations as determined by the JRC. Additional representatives or consultants may from time to time, by mutual consent of the Parties, be invited to attend JRC
meetings, subject to such representative’s and consultant’s written agreement to comply with the requirements of Article 10. Such other representatives may attend the in person meetings by telephone and/or videoconference. 

2.2.4 Decision Making. With respect to decisions taken on matters placed by either Party before the JRC, each Party shall have
one vote. Decisions of the JRC shall be made by unanimous approval of the JRC members present and voting on the matter. At least one member from each Party must be so present and voting for a decision to be reached. In the event the JRC is unable to
reach consensus on a particular decision expressly provided in this Agreement to be made by the JRC, such decision will be referred to the CEO of Acumen and a [***] of [***] Merck [***] for resolution. If such representatives fail to resolve such a
dispute, the final decision will be made by [***]; [***] the number of FTE’s of Acumen (“Acumen FTE’s”) under the Research Plan in accordance with Section 6.1,[***] 

ARTICLE 3 
 RESEARCH
PROGRAM 
 3.1 Conduct of Research Program. Subject to the terms and conditions set forth in this Agreement, the Parties
agree to conduct a research program relating to the discovery and research of Product by collaboratively and diligently performing its responsibilities during the Research Term in accordance with the then-current Research Plan. Such responsibilities
will be performed in a good scientific manner and in compliance in all material respects with all requirements of applicable laws, 

  
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rules and regulations. Without limiting any other obligations in this Agreement, each Party shall allocate sufficient time, effort, equipment and facilities, and shall use personnel with
sufficient skills and experience, as are required to accomplish the Research Program in accordance with the terms of this Agreement, including the Research Plan. 

3.2 Research Plan. The Research Plan shall establish, in detail: (i) the scope of the research activities to be performed by
each Party under the Research Program, using the outline set forth in Exhibit 3.2 as a starting point, provided that Exhibit 3.2 shall not supersede or modify the terms of this Agreement; (ii) the research objectives, work plan
activities, and schedules of the Research Program; and (iii) the respective obligations of each Party under the Research Program. As soon as possible after the Effective Date, but no later than [***] days thereafter, and subject to Sections
2.2.4 and 6.1, the Parties shall jointly establish the first Research Plan. Thereafter, subject to Sections 2.2.4 and 6.1, the Parties shall establish annual Research Plans by no later than October 1 of each year during the Research Term. The
Parties shall submit to the JRC for approval the proposed Research Plan required under this Section 3.2 for the following Calendar Year. The JRC shall promptly review and approve each such proposal or propose modifications thereto. Unless
otherwise agreed by Acumen and Merck, the Research Plan shall at all times provide for at least five (5) Acumen FTE’s. 
 3.3
Exchange of Information. Each Party shall keep the JRC reasonably informed on a timely basis as to the material progress, results and activities in connection with the Research Program. During the Research Term, Acumen agrees to
cooperate with Merck to provide for reasonable and prompt disclosure to Merck of the Acumen Know-How. During the Research Term, Merck agrees to provide Acumen with the information reasonably necessary for
Acumen to perform its obligations under the Research Plan. Notwithstanding the foregoing, the information described in Exhibit 3.3 shall be deemed to be reasonably necessary for Acumen to perform its obligations under the Research Plan. 

3.4 Access to Technical Personnel. During the Research Term and without limiting Sections 3.1 and 3.3, Acumen agrees that it will
make its technical personnel and consultants reasonably available to the Merck’s employees and/or consultants to discuss the Research Program work, and the results of such work, in detail, which may include having Merck’s employees and/or
consultants visit its offices and laboratories, and/or those of its Third Party contractors, during normal business hours. 
 3.5 Term
of the Research Program. The term of the Research Program (the “Research Term”) shall commence upon the earlier of (i) [***] days after the Effective Date or (ii) the date of approval of the initial Research Plan by the
JRC (“Research Commencement Date”), and shall continue thereafter for an initial period of three (3) years. The Research Term shall expire on the third anniversary of the Research Commencement Date, unless extended by mutual
written agreement of the Parties or earlier terminated in accordance with this Agreement. 
 3.6 Principal Scientist. The
Principal Scientist shall actively participate on Acumen’s behalf in performing Acumen’s responsibilities pursuant to the Research Program, and shall be one of the Acumen participants on the JRC. In the event that the Principal Scientist
leaves the employ of Acumen or is otherwise unwilling or unable to actively participate on Acumen’s behalf regarding the 

  
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Research Program during the Research Term: (i) Merck shall be consulted by Acumen regarding the replacement of the Principal Scientist, and shall have the right to approve or disapprove such
replacement; and (ii) Acumen shall cooperate reasonably with Merck in an effort to enable Merck to cause the Principal Scientist to be made available to Merck on a consulting basis, and in the event that Merck is required to compensate the
Principal Scientist in order to obtain such consulting services, such payment when made shall be credited against the amount payable thereafter to Acumen pursuant to Article 6; provided, however, that such credit [***] from Acumen at
the end of the Principal Scientist’s employment with Acumen. 
 3.7 Compliance. Without limiting Section 3.1, if
animals are used in research or development hereunder, the Party using such animals will comply with the Animal Welfare Act or any other applicable local, state, national and international laws or regulations relating to the care and use of
laboratory animals. Each Party encourages the other to use the highest standards, such as those set forth in the Guide for the Care and Use of Laboratory Animals (NRC, 1996), for the humane handling, care and treatment of such research animals. Any
animals which are used in the course of the Research Program, or Products derived from those animals, such as eggs or milk, will not be used for food purposes, nor will these animals be used for commercial breeding purposes. Each Party hereby
certifies that it will not and has not employed or otherwise used in any capacity the services of any person debarred under Section 21 U.S.C. 335a in performing any services hereunder. 

3.8 Use of Human Materials. Without limiting Section 3.1, if any human cell lines, tissue, human clinical isolates or
similar human-derived materials (“Human Materials”) have been or are to be collected and/or used in the Research Program, the Party using such Human Materials represents and warrants (i) that it has complied, and shall comply,
with all applicable laws, guidelines and regulations relating to the collection and/or use of the Human Materials and (ii) that it has obtained, and shall obtain, all necessary approvals and appropriate informed consents, in writing, for the
collection and/or use of such Human Materials. Each Party shall provide documentation of such approvals and consents to the other Party upon such other Party’s request. Each Party further represents and warrants that such Human Materials may be
used as contemplated in this Agreement without any obligations to the individuals or entities (“Providers”) who contributed the Human Materials, including, without limitation, any obligations of compensation to such Providers. 

3.9 Records; Inspection 

3.9.1 Records. Acumen and Merck shall maintain records of the Research Program (or cause such records to be maintained), as
applicable, in sufficient detail and in a good scientific manner as will properly reflect all work done and results achieved in the performance of the Research Program. 

3.9.2 Inspection. Merck shall have the right, during normal business hours during the Research Term and within [***] after the
Research Term and upon reasonable notice to Acumen, to inspect and copy all such records of the Acumen referred to in Section 3.9.1. 

  
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 ARTICLE 4 

DEVELOPMENT PROGRAM 
 4.1
Development. For each Product to which Merck retains rights under this Agreement, Merck shall be responsible, at its sole expense, for conducting all pre-clinical and clinical development of such
Products and all commercialization of such Products, as set forth in the other provisions of this Agreement. 
 4.2
Development-Advisory Committee. 
 4.2.1 Responsibilities. Promptly following the first occurrence of milestone
number 1 under Section 6.4.1 below, Merck and Acumen will establish a committee (the “Development-Advisory Committee” or “DAC”) as a forum for Acumen to provide scientific input regarding the development of the
Products and for Merck to keep Acumen apprised of, and to enable the Parties to review and discuss, the progress of, and planned activities related to, development of the Products. In order to enable such discussion and review, information will be
exchanged as described in Section 4.2.2 below. No approval of the DAC shall be required for any development activities, it being acknowledged that the DAC is solely for information and advisory purposes. Nonetheless, Merck shall consider in
good faith the comments of the DAC with respect to the development activities related to Product; it being understood that Merck shall not be required to adopt or implement any such comments. 

4.2.2 Information Exchange. Merck shall provide to all members of the DAC, for each Product, a description of the activities
undertaken, and planned to be undertaken, by or under authority of Merck (as well as the results of such activities) related to pre-clinical or clinical testing of the Products or regulatory filings relating
thereto. Such information shall be provided to Acumen in reasonable detail reasonably in advance of each DAC meeting, setting forth the nature, scope and timing of such activities, including the projected timelines to obtain Marketing Authorizations
and a summary of the status and results of the communications with Regulatory Authorities. 
 4.2.3 Membership. The DAC shall
consist of [***] members, with Merck selecting [***] representatives, and Acumen selecting [***] representative, each by written notice to the other Party. Members appointed by each Party shall have appropriate technical credentials, experience and
knowledge and, in the case of Merck’s representatives, ongoing familiarity with the development and commercialization activities described in Section 4.2.2. Subject to the foregoing, Acumen and Merck may each replace its DAC
representative(s) at any time upon written notice to the other Party. 
 4.2.4 Meetings. After the Research Term and until
[***], the DAC shall meet every [***] months, with at least one meeting each year being in-person. The location of the meetings shall be designated by Merck. Additional employee representatives may attend DAC
meetings, by mutual consent of the Parties for additional employee representatives [***], subject to such representative’s written agreement to comply with the requirements of Article 10. Such other representatives may attend the in-person meetings by telephone and/or videoconference. 

  
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 ARTICLE 5 

LICENSES 
 5.1
Licenses. 
 5.1.1 Antibody Product License. Subject to the terms and conditions of this Agreement, Acumen hereby
grants to Merck a worldwide, royalty-bearing license under the Acumen Technology to make, have made, use, import, offer for sale, sell, and have sold Antibody Products (in finished or unfinished form) within the Therapeutic Field and Territory. Such
license shall be exclusive even as to Acumen within the Therapeutic Field and Territory, except that Acumen retains the right to practice the Acumen Technology (itself and through its Affiliates and Third Parties) for the performance of the Research
Program in accordance with the Research Plan. 
 5.1.2 Vaccine Product License. Upon exercise of the Vaccine Option, and
subject to the terms and conditions of this Agreement, Acumen hereby grants to Merck a worldwide, royalty-bearing license under the Acumen Technology to make, have made, use, import, offer for sale, sell, and have sold Vaccine Products (in finished
or unfinished form) within the Therapeutic Field and Territory. Such license shall be exclusive even as to Acumen within the Therapeutic Field and Territory, except that Acumen retains the right to practice the Acumen Technology (itself and through
its Affiliates and Third Parties) for the performance of the Research Program in accordance with the Research Plan. Notwithstanding the above or Section 5.2 below, no rights or licenses under this Section 5.1.2 shall be exercised by or
under authority of Merck in any manner prior to the Exercise Date and the licenses and exclusivity in this Section 5.1.2 shall terminate, and have no further force or effect, if Merck fails to exercise the Vaccine Option in accordance with
Section 5.3 during the Option Period. 
 5.2 Sublicenses. 

5.2.1 Generally. (a) Except as set forth in Section 5.2.1(c) below, Merck and its Controlled Affiliates shall remain
primarily responsible for conducting the development of the Products directly in each Major Market other than [***], it being understood that, subject to the foregoing and other terms and conditions of this Agreement, Merck shall have the right to
sublicense its rights under Section 5.1 above to Third Parties (i) to develop Products in [***] and countries other than [***], and (ii) for the purpose of conducting research to develop Product for and on behalf of Merck. 

(b) Also subject to the terms and conditions of this Agreement, including the provisions of Section 5.2.1(a), Merck may sublicense its
rights to make (but not develop), use (but not develop), sell, offer to sell and import Products under Section 5.1 (i) to its Affiliates anywhere in the Territory for any purpose; (ii) to Third Parties in [***] and any country outside of
[***] for any purpose; and (iii) to Third Parties in [***] for the purpose of co-promotion and co-marketing arrangements, and with Acumen’s consent not to be
unreasonably withheld other similar arrangements; provided in the case of subparagraph (iii) hereof that Merck or its Affiliate itself continues to market, sell and promote the Products in such [***] at the level described in Section 8.1.

  
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 (c) Also subject to the terms and conditions of this Agreement, after Merck has achieved and
paid the milestone set forth in Section 6.4.1(8), Merck may sublicense its rights to make, use, sell, offer to sell and import Products under Section 5.1 to Third Parties for any purpose, subject to Acumen’s rights set forth in
Section 5.2.3. 
 5.2.2 Sublicense Requirements. Each sublicense granted by or under authority of Merck, and partnering
arrangement, shall be consistent with all terms and conditions of this Agreement, and subordinate thereto, and Merck shall be responsible to Acumen for the compliance by each Sublicensee with the financial and other obligations under this Agreement.
Except as expressly authorized under this Section 5.2, Merck shall not sublicense its rights, or appoint a Sublicensee, with respect to any Product unless otherwise agreed by Merck and Acumen in writing. 

5.2.3 Right of First Negotiation. In the event that Merck, at any time during the Term after achieving and payment of the
milestone set forth in Section 6.4.1(8), desires to grant a sublicense to a Third Party pursuant to Section 5.2.1(c) to use, sell, offer to sell and/or import a Product in one or more countries in the Territory, Merck shall so notify
Acumen in writing. Acumen shall have [***] in which to respond to such notice indicating Acumen’s interest in obtaining such a license. If Acumen does not respond within such [***] period, or if Acumen notifies Merck in writing that Acumen is
not interested in obtaining such a license, Merck may proceed to pursue negotiation and grant of such license to a Third Party without further obligation to offer such license to Acumen. If Acumen notifies Merck of its interest in obtaining such a
license, the parties shall promptly commence good faith negotiations of such a license on commercially reasonable terms. If after [***] of good faith, diligent negotiations the parties are unable to reach a mutual agreement on commercial terms for
such license, Merck may proceed to enter into discussions with a Third Party for the grant of such a license. 
 5.3 Vaccine
Option. 
 5.3.1 Grant. Subject to the terms and conditions of this Agreement, Acumen hereby grants to Merck an
exclusive option to obtain the worldwide, royalty-bearing license under the Acumen Technology set forth in Section 5.1.2 (the “Vaccine Option”). Upon the exercise of the Vaccine Option, such license shall be exclusive even as
to Acumen within the Therapeutic Field and Territory, except that Acumen retains the right to practice the Acumen Technology (itself or through its Affiliates and Third Parties) for the performance of the Research Program in accordance with the
Research Plan. 
 5.3.2 Option Period. Merck may exercise the Vaccine Option at any time during the Option Period. The
“Option Period” shall mean the period beginning on the Effective Date and ending on February 15, 2007. 
 5.3.3
Exercise. Merck may exercise its Vaccine Option by providing to Acumen prior to the end of the Option Period: (i) written notice of Merck’s exercise of the Vaccine Option, and (ii) within [***] days of such written
notice, payment of [***]. Upon the date by which Acumen has received both written notice during the Option Period of Merck’s exercise of the Vaccine Option and such payment (the “Exercise Date”), the definition of Products
shall be deemed to include Vaccine Products. 

  
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 5.4 Diagnostic Product License.  

5.4.1 License Grant. Subject to the terms and conditions of this Agreement, including the provisions of Section 5.4.2,
Acumen hereby grants to Merck an exclusive (even as to Acumen, except as set forth in Section 5.4.2), worldwide, sublicensable license under the Acumen Diagnostic IP to research, develop, make, have made, use, sell, offer to sell and import
Diagnostic Products.  
 5.4.2 Rights Retained by Acumen. Without modifying Section 5.8, Acumen shall retain non-exclusive rights under Patent Rights and Know-How Controlled by Acumen (not including Merck Patent Rights or Merck Diagnostic IP) : (i) to use molecules that are not ADDL
Antibodies for any and all uses (subject to the Vaccine Option set forth in Section 5.3) either by itself or with third parties; and (ii) to use Acumen-owned ADDL Antibodies solely for use in the Retained Antibody Field either by itself or
with third parties performing research on behalf of Acumen; provided, however, that in no circumstances shall Acumen have the right to use or transfer any ADDL Antibody or Product which Merck has identified as a Pre-Clinical Candidate or regarding which Merck has otherwise notified Acumen that it is engaged in Clinical Trials. For the avoidance of doubt, commencing upon the Amendment Effective Date, Acumen shall have no
right to use Merck Diagnostic Know-How (including but not limited to any ADDL Antibodies provided by Merck to Acumen), and shall have no right to commercialize a Diagnostic Product. 

5.5 Acumen’s Performance of the Research Program. Subject to the terms and conditions of this
Agreement, Merck hereby grants to Acumen a non-exclusive license to the extent necessary for Acumen to perform its obligations pursuant to the Research Program in accordance with the Research Plan. 

5.6 Derivative Patent License. Subject to the terms and conditions of this Agreement, Merck hereby grants to Acumen a worldwide,
royalty-free, fully paid up, non-exclusive right and license under the Derivative Patents, with the right to grant and authorize sublicenses, (i) to perform the Research Program in accordance with the
Research Plan, and (ii) to make, have made, use, sell, offer to sell, import, and otherwise exploit the subject matter of such Derivative Patents, for the making, sale, offer for sale, use, and/or importation of products containing a Small
Molecule for the Treatment of ADDL-Related Conditions in the Therapeutic Field in the Territory. 
 5.7 Limitation Regarding Small
Molecules. It is understood and agreed that no product or other subject matter using or comprising a Small Molecule as, or as part of, an antigen or other active ingredient is licensed to Merck under this Agreement. 

5.8 No Implied Rights. Only the licenses granted in or pursuant to the express terms of this Agreement shall be of any legal
force or effect. No other license rights shall be created by implication, estoppel or otherwise. Notwithstanding anything to the contrary, no license is granted under this Agreement with respect to any active ingredient contained in a Product, other
than an ADDL Antibody or, in the event of the exercise of the Vaccine Option, an ADDL Antigen. In addition, all of Acumen’s rights to Acumen Technology not specifically licensed to Merck under this Agreement shall be retained by Acumen,
including, but not limited to, all products and applications other than (i) Diagnostic Products in the Diagnostic Field in the Territory, and (ii) Products in the Therapeutic Field in the Territory. Without limiting the foregoing, it is
understood that Section 5.1 

  
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does not preclude Acumen, or others under authority of Acumen, from exploiting ADDL Antibodies or ADDL Antigens in connection with the research, development, or manufacture of products or other
subject matter not involving the Treatment of a patient with a Product. 
 5.9 Exclusive Rights under Northwestern License and USC
License. Notwithstanding the provisions of Section 2.5 of the Northwestern License and Section 3(c) of the USC License, Acumen agrees that it shall not during the Term exercise its rights under Section 2.5 of the Northwestern
License or Section 3(c) of the USC License in a manner that causes any loss of exclusivity under the licenses granted to Merck in Section 5.1 of this Agreement. 

ARTICLE 6 
 PAYMENTS

 6.1 Research Program Funding. For each Calendar Quarter or portion thereof during the Research Term, Merck shall pay to
Acumen research funding in an amount equal to the number of Acumen FTEs specified in the Research Plan for that Calendar Quarter multiplied by the rate of [***] per FTE per year. The Research Plan shall provide for no less than five (5) Acumen
FTEs during each year of the Research Term (including the first and last Calendar Quarters described below), it being acknowledged that the Parties may mutually agree to increase the number of FTEs during any year through their authorized
representatives. Each payment under this Section 6.1 shall be made to Acumen quarterly within the [***] days after the beginning of the Calendar Quarter to which Acumen’s work under the Research Program relates, provided,
however, that the first such payment shall be made within [***] days of the Research Commencement Date, and shall be pro-rated based on the number of days remaining in the then-current Calendar Quarter,
and the last such payment shall be pro-rated based on the number of days of Research Term remaining in the Calendar Quarter in which the Research Term ends. [***] Acumen agrees to apply funding received under
this Section 6.1 to the Research Program; provided that in the event the JRC has failed to establish a Research Plan, Acumen will apply such funding towards the discovery and/or development of Antibody Products in the Therapeutic Field
as reasonably directed by Merck (or as reasonably determined by Acumen to the extent not so directed by Merck). In the event that Acumen has not succeeded in applying five (5) FTEs to performance of the Research Plan (i) in aggregate
during the first four (4) Calendar Quarters, or (ii) in aggregate during any Calendar Quarter, after the first four Calendar Quarters; each during the Research Term, Merck shall be entitled to take a credit against the payment due under
this Section 6.1 in the Calendar Quarter after which such shortfall is discovered by Merck, to the full extent of such shortfall. 
 6.2
Technology Access Fee. 
 6.2.1 Merck shall pay to Acumen [***] within [***] days of the Effective Date, and [***] on the
later of [***] days of the Effective Date or [***]. Notwithstanding the foregoing, if, by the time payment is due in accordance with this Section 6.2 above, the Northwestern License has not been amended to contain a provision that allows Merck
to avoid termination of its rights under the Northwestern License, as described in Section 11.2.2, then no such payment under this Section 6.2 shall be payable until the earlier of (i) such amendment of the Northwestern License
described in Section 11.2.2 below, or (ii) [***]; (whichever date is earlier, the “Delayed Payment Date”) in each case unless Merck has terminated the Agreement under this Section 6.2 prior to the Delayed

  
 -18- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
Payment Date. Merck shall have the right to terminate this Agreement under this Section 6.2 by providing Acumen with written notice of termination, which termination shall be effective
immediately upon notice. The effects of such termination shall be as set forth in Section 13.5.2(b). If this Agreement has not been terminated by Merck in accordance with this Section 6.2 prior to the Delayed Payment Date, then Merck shall
pay to Acumen the [***]) described in this Section 6.2 above upon the earlier of [***], or [***] days after the Delayed Payment Date. 

6.2.2 Merck shall make a one-time upfront payment of [***] within [***] days of the Amendment Effective
Date, with [***] of this amount only creditable against the Development Milestone [***] defined in Section 6.4.1(2). 
 6.2.3 Merck
shall pay to Acumen a one-time payment of [***] within [***] days of the Amendment Effective Date in order to enable Acumen to purchase [***] with such [***] to be used pursuant to the Research Program. 

6.3 First Anniversary Fee. In addition to the other amounts specified in this Article 6, Merck shall pay [***] to Acumen on the
first (1st) anniversary of the Effective Date. 
 6.4 Development Milestones
Payments. 
 6.4.1 Initial Products. Merck shall pay to Acumen the milestone payments identified in this
Section 6.4.1 below, each within thirty (30) days after the first occurrence of the corresponding milestone, for the first Antibody Product and, if the Vaccine Option has been exercised, the first Vaccine Product to reach such milestone:

  

			
	 Development Milestones
	  	 Payment Amount

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

 6.4.2 Subsequent Products. 

(a) To the extent that a milestone payment has been made to Acumen pursuant to Section 6.4.1(1), (2) or (3) (each hereinafter an
“Early Development Milestone”) as a result of any Antibody Product achieving such Early Development Milestone, no further payment for the Early Development Milestone that has been achieved shall be due or payable to Acumen as a
result of subsequent Antibody Products achieving such Early Development Milestone. Similarly, to the extent that an Early Development Milestone payment has been made to Acumen as a result of any Vaccine Product achieving such Early Development
Milestone, no further payment for the Early Development Milestone that has been achieved shall be due or payable to Acumen as a result of a subsequent Vaccine Product achieving such Early Development Milestone. 

  
 -19- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (b) With respect to each of the milestones set forth in Section 6.4.1(4), (5), (6), (7)
and (8) (each hereinafter a “Late Development Milestone”), a milestone payment in the amount set forth for such Late Development Milestone shall be made by Merck to Acumen for each Antibody Product that achieves such Late
Development Milestone after it was previously achieved by one or more other Antibody Product(s), only if the following conditions have been or are thereafter met: (i) a Marketing Authorization is obtained in a Major Market for an Antibody
Product (i.e. the first Antibody Product to achieve Marketing Approval in a Major Market) under this Agreement (whether before or after the Late Development Milestone is achieved) (“First Antibody Approval”), and (ii) at the
time of the First Antibody Approval or thereafter, Merck is actively developing another Antibody Product that has achieved, or that subsequently achieves, one or more Late Development Milestone(s). Milestone payments under this Section 6.4.2(b)
for Late Development Milestones achieved prior to such conditions being met shall become payable only if and at the time such conditions are thereafter met. 

(c) Similarly, a milestone payment in the amount set forth for such Late Development Milestone shall be made by Merck to Acumen for each
Vaccine Product that achieves such Late Development Milestone after it was previously achieved by one or more other Vaccine Product(s), only if the following conditions have been or are thereafter met: (i) a Marketing Authorization is obtained
in a Major Market for a Vaccine Product (i.e. the first Vaccine Product to achieve Marketing Approval) under this Agreement (whether before or after the Late Development Milestone is achieved) (“First Vaccine Approval”), and
(ii) at the time of the First Vaccine Approval or thereafter, Merck is actively developing another Vaccine Product that has achieved, or that subsequently achieves, one or more Late Development Milestone(s). Milestone payments under this
Section 6.4.2(c) for Late Development Milestones achieved prior to such conditions being met shall become payable only if and at the time such conditions are thereafter met. 

6.4.3 Merck will make a one-time payment of [***] upon receipt of notice of Regulatory Authority
approval in the United States of a filing made under Section 510(k) of the Food, Drug and Cosmetics Act for the sale of a Diagnostic Product by Merck, its Affiliates or a sublicensee thereof. 

6.5 Sales Threshold Milestones. 

6.5.1 General. Merck shall pay to Acumen the milestone payments identified in this Section 6.5 below, each within [***]
days after the first occurrence of the corresponding milestone set forth in this Section 6.5.1 for an Antibody Product and additionally within [***] days after the first occurrence of the corresponding milestone for a Vaccine Product: 

 

			
	 Sales Threshold Milestone
	  	 Payment Amount

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

  
 -20- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 6.5.2 Subsequent Products. The milestone payments in this Section 6.5
shall be payable for the first Antibody Product to achieve such sales threshold milestone and, if applicable, for the first Vaccine Product to achieve such sales threshold milestone, and no such sales threshold milestone shall be payable for
subsequent achievements of such sales threshold milestone by subsequent Antibody Products or Vaccine Products. 
 6.6 Certain
Additional Terms. 
 6.6.1 One Payment Per Product. It is understood that once a particular milestone payment under
Section 6.4 has been paid with respect to a particular Product, such milestone payment shall not be due again with respect to the same Product, and shall only be paid for subsequent Products pursuant to Section 6.4.2(b) or (c). 

6.6.2 Accrued Milestones. If a subsequent milestone under Section 6.4 or 6.5 above is achieved for a Product before a prior
milestone under Section 6.4 or 6.5 for such Product, then payment for such prior milestone(s), when applicable in accordance with Section 6.4 or 6.5, shall be due at the time of the payment for such subsequent milestone with respect to
such Product. For the purposes of this Section 6.6.2, “subsequent” and “prior” milestones shall refer to the numerical order of the milestones, as indicated next to such milestone in Section 6.4 above. 

6.6.3 Reports. Within [***] days of the occurrence of any event that would trigger a milestone payment according to
Section 6.4 or 6.5, Merck shall notify Acumen of such occurrence in writing. The payment associated with such milestone shall be paid within [***] days of the achievement of such milestone, except payments under Section 6.4.2(b) or (c),
which shall be paid within [***] days of the time at which they become payable pursuant to Section 6.4.2. 
 6.7
Royalties. 
 6.7.1 Royalty Tiers. 

(a) For Antibody Products and Vaccine Products. In consideration of the rights and licenses granted to Merck in this Agreement,
Merck shall pay to Acumen as royalties the following percentages of Net Sales from the sale of each Antibody Product (and Vaccine Products upon exercise by Merck of the Vaccine Option in accordance with Section 5.3) by Merck, its Affiliates,
and Sublicensees during a Calendar Quarter: 
  

			
	 Annual Net Sales by Product
	  	 Royalty Rate

on Incremental Net

Sales

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

  
 -21- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (b) For Diagnostic Products. In consideration of the rights and licenses
granted to Merck regarding Diagnostic Products in this Agreement, Merck shall pay to Acumen the following royalties: 
 (1) For those
Diagnostic Products sold by Merck or its Affiliates to a Third Party, the royalty rate shall be as follows: 
  

			
	 Annual Net Sales by Diagnostic Product
	  	 Royalty Rate

on Incremental Net

Sales

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

 (2) For those Diagnostic Products for which Merck or its Affiliates receive Diagnostic Received Revenue from a
Third Party, the royalty rate shall be as follows: 
  

			
	 Diagnostic Received Revenue by Diagnostic Product
	  	 Royalty Rate on

Diagnostic Received

Revenue

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

 6.7.2 Third Party Royalties. 

(a) Credit. If Merck pays a running royalty to an unrelated Third Party for a license from the Third Party to make, have made,
use, sell, or import a Product under a Necessary Patent or an Antibody Patent, then Merck shall have the right to credit such royalty against the royalty payable by Merck under Section 6.7.1 above, but only to the extent set forth in this
Section 6.7.2 below. All such credits shall be applied, on a country-by-country and
Product-by-Product basis, only against the royalty hereunder for the sale of the particular Product for which the Third Party royalty was paid. 

(1) The amount of such credits for licenses under the Necessary Patents shall equal [***] of the running royalties actually paid by Merck for
the sale of the applicable Product under such a license. 
 (2) The amount of such credits for licenses under the Antibody Patents shall
equal [***] of the running royalties actually paid by the Merck for the sale of the applicable Product under such a license, but in no event greater than [***]. 

  
 -22- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (3) Notwithstanding anything to the contrary in this Agreement, under no circumstances shall
any credit under this Section 6.7.2 reduce [***]; in each case regardless of the number of Third Party licenses, Necessary Patents, Antibody Patents and running royalties paid to Third Parties with respect thereto. 

(4) Notwithstanding anything to the contrary in this Agreement, under no circumstances shall any credit under this Section 6.7.2 reduce
the royalty payable under Section 6.7.1(b) by more than [***] of the royalty otherwise due Acumen. 
 (5) For clarity, it is understood
that running royalties with respect to any Necessary Patent or Antibody Patent shall not include any license issuance fees (such as up front or other lump sum payments), cost sharing or reimbursement, milestone payments, service or consulting fees,
purchases, non-cash consideration, amounts paid for equity or securities, dividends, profit distributions, amounts paid for facilities or equipment, or any other payment or consideration which is not expressly
identified in the written agreement between Merck and the Third Party licensor as a running royalty in respect of a license under the applicable Necessary Patent or Antibody Patent for the sale of the particular Product in the particular country.
All running royalties credited pursuant to this Section 6.7.2 shall be net of all applicable taxes and other amounts credited or deducted against the royalties actually paid for the license. 

(b) Definitions. For purposes of this Section 6.7.2, (i) “Antibody Patent” shall mean, with respect to a
particular Product, a valid patent claim of an issued, unexpired patent in that country that would, absent a license from the unrelated Third Party under such valid patent claim, be infringed by [***]; and (ii) “Necessary Patent”
shall mean, with respect to a particular Product sold in a country, a valid patent claim of an issued, unexpired patent in that country [***] and that would, absent a license from the unrelated Third Party under such valid patent claim, be infringed
[***]. As used in this Section 6.7.2(b), (X) “infringed” [***]; and (Y) “valid patent claim” shall have the meaning set forth in Section 1.59, [***] rather than the Patent Rights identified in Section 1.59. As used
herein, it is understood that if any Antibody Patents are licensed from an entity, then any Necessary Patents also licensed from such entity and its Affiliates shall be deemed to be Antibody Patents for purposes of Section 6.7.2(a) above. 

6.7.3 Know-How Royalties. Notwithstanding the provisions of Section 6.7.1 above, if
neither the use nor sale of a Product during a Calendar Quarter would infringe a Valid Patent Claim in the country in which the Product is sold, then Merck shall pay royalty rates on such Product that shall be set at [***] of the royalty rate
determined according to Section 6.7.1 above, provided that under no circumstances shall the royalty rate for any Product be less than [***] as a result of this Section 6.7.3. 

6.7.4 Coordination of Sections 6.7.1, 6.7.2 and 6.7.3. Royalty tiers pursuant to this
Section 6.7 shall be calculated based on worldwide Net Sales of each Product, provided that the determination of whether the royalty shall be calculated under 6.7.1, 6.7.2 or 6.7.3 for each Product shall be determined on a country-by-country basis. Accordingly, Net Sales under Section 6.7.3 shall be included in the total annual Net Sales for purposes of determining the royalty tiers
applicable to Net Sales under Section 6.7.1, and if more than one royalty rate applies under Section 6.7.1, then the Net Sales described in Section 6.7.3 shall be applied proportionally to each such annual royalty tier. 

  
 -23- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 6.7.5 Retroactive Lump-Sum Payment of
Royalties. In the event that: (i) a claim under the Acumen Patent Rights, Merck Patent Rights or Joint Patent Rights is published in a country of sale and such claim, or a substantially similar claim, subsequently becomes a Valid Patent
Claim; and (ii) Merck has, prior to the issuance of such Valid Patent Claim, paid Acumen royalties on Net Sales in such country at the reduced rate set forth in Section 6.7.3; the remaining provisions of this Section 6.7.5 shall
apply. 
 (a) Acumen shall notify Merck of the issuance of such Valid Patent Claim if it is included in Acumen Patent Rights being
prosecuted by Acumen, and Merck shall notify Acumen upon the issuance of the Valid Patent Claim if it is included in a Merck Patent Right, Acumen Patent Right or Joint Patent Right being prosecuted by Merck. 

(b) For royalty payments due after the date of such notice, Merck shall pay the applicable royalty payable pursuant to Section 6.7.1 or
6.7.2. 
 (c) Merck shall, within [***] days of such notice, retroactively pay to Acumen a lump sum equal to the difference between the
royalty rate actually paid pursuant to Section 6.7.3 and the royalty rate that would have been payable pursuant to Section 6.7.1 or 6.7.2 for the Period, as such term is defined herein, had the Valid Patent Claim been issued. The
“Period” shall commence on the latest of the following dates: (1) the date of the First Commercial Sale in such country; (2) the date of first publication in the country of sale of the claim corresponding to the Valid
Patent Claim; and (3) the most recent royalty payment that was due and payable more than [***] full Calendar Quarters prior to the date of the notice under Section 6.7.5(a); and shall end with the royalty payment that is due and payable
within [***] days after the Calendar Quarter in which such notice was given. 
 6.7.6 Royalty Term. The royalties payable
pursuant to this Section 6.7 shall be payable on a country-by-country and
Product-by-Product basis until the date which is the later of: (i) the expiration of the last to expire Valid Patent Claim covering such Product in such country, or
(ii) ten (10) years following the First Commercial Sale of such Product in such country. 
 6.7.7 One Royalty; Samples and
Donations. One royalty shall be payable for each unit of Product under this Agreement, and no royalties shall be due upon the sale or other transfer among Merck, its Affiliates or Sublicensees for Product resold to an independent Third
Party, but in such cases the royalty shall be due and calculated upon Merck’s, its Affiliate’s or Sublicensee’s Net Sales to the first independent Third Party. No royalties shall accrue on the disposition of Product without charge in
reasonable quantities by Merck or its Affiliates or Sublicensees which are used in Clinical Trials, as samples (promotion or otherwise) or as donations (for example, to non-profit institutions or government
agencies for a non-commercial purpose). 
 6.7.8 Change in Sales Practices. The Parties
acknowledge that during the term of this Agreement, Merck may desire to change its sales practices for the marketing and distribution of Product to the extent to which the calculation of the payment for royalties on Net Sales may become impractical
or even impossible. In such event the Parties agree to meet and discuss in good faith new ways of compensating Acumen to the extent currently contemplated under this Section 6.7 in a manner that does not disadvantage Acumen; [***] 

  
 -24- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 6.7.9 Royalties for Bulk Product. In those cases where Merck, its Affiliate or
Sublicensee sells Product to a Third Party (other than a Sublicensee) in other than finished and packaged form, the royalty obligations of this Section 6.7 shall be applicable to the Net Sales from the sale by Merck, the Affiliate, or the
Sublicensee of bulk Product. 
 6.7.10 Compulsory Licenses. To the extent that Merck is required by the laws or regulations in
any country in the Territory to grant a license under the Valid Patent Claims to a Third Party to make and sell Product in such country in the Territory, and to the extent that such laws and regulations require Merck to grant such license with a
royalty rate that is lower than the royalty rate provided by this Section 6.7 above, then the royalty rate to be paid by Merck under this Section 6.7 on such Sublicensee’s Net Sales from sales of such Product under such license in
that country shall be reduced to the rate paid by the compulsory Sublicensee. 
 6.8 Bundled Sales. In the event that Merck,
its Affiliate or Sublicensee sells Products to a Third Party to whom it also sells other products, the price for the Product shall not be established such that Net Sales is below fair market value with the intent of increasing market share for other
products sold by Merck or its Affiliate to such Third Party or for the purpose of reducing the amount of royalty payable on the Net Sales from the sale of the Product. If the sale of the Product under such circumstances results in Net Sales below
the fair market value for such Product, then the Net Sales of the Product in such transaction shall be deemed to be such fair market value for purposes of calculating payments owed to Acumen under this Agreement. In the event that the Parties hereto
have been unable to agree upon such a fair market value, then upon the request of either Party such matter shall be resolved in accordance with Section 14.2 below. For purposes of this Section, “fair market value” shall be determined
with relation to a particular country, market segment, indication, finished dosage form, the existence of competition, and other relevant factors, and will change over time, reflecting among other things changes in the status of the Product in its
life cycle and the market(s) involved. 
 6.9 Other. Except as explicitly set forth in this Article 6, all payments under this
Article 6 shall be non-refundable (except solely in the case of overpayment) and non-creditable against other amounts due or payable to Acumen under this Article 6 or
otherwise under this Agreement. 
 ARTICLE 7 

PAYMENTS, BOOKS AND RECORDS 

7.1 Royalty Reports and Payments. After the first sale of a Product on which royalties are payable hereunder, Merck shall make
quarterly written reports to Acumen within [***] days after the end of each Calendar Quarter, stating in each such report, the aggregate Net Sales, by country, of each such Product sold during the Calendar Quarter. Concurrently with the making of
such reports, Merck shall pay to Acumen royalties due at the rates specified in Section 6.7. 
 7.2 Payment Method. All
payments due under this Agreement shall be made by bank wire transfer in immediately available funds to a bank account designated by Acumen. All payments hereunder shall be made in U.S. Dollars. Any payments or portions thereof due hereunder which
are not paid when due shall bear interest equal to the lesser of (i) the prime rate as reported by the Chase Manhattan Bank, New York, New York, on the date such payment is due, plus [***], or (ii) the maximum rate permitted by law, calculated
on the number of days such payment is delinquent. This Section 7.2 shall in no way limit any other remedies available to either Party. 

  
 -25- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 7.3 Place of Royalty Payment; Currency Conversion. All amounts set forth in
this Agreement, or in any Exhibit, are in U.S. Dollars. In the case of sales invoiced in a foreign currency, the rate of exchange to be used in computing the monthly amount of currency equivalent in United States dollars due Acumen shall be made at
the monthly rate of exchange utilized by Merck in its worldwide accounting system, prevailing on the third to the last business day of the month preceding the month in which such sales are recorded by Merck. 

7.4 Records; Inspection. Merck shall keep, and shall ensure that its Affiliates and Sublicensees keep, complete, true and
accurate books of account and records for the purpose of determining the amounts payable under this Agreement. Such books and records, and the un-redacted agreements for sublicenses by or under authority of
Merck, shall be kept at the place of business of Merck or its Affiliate or Sublicensee where such books and records are normally kept for at least [***] years following the end of the Calendar Quarter to which they pertain. Such records shall be
open for inspection by an independent certified public accounting firm to whom Merck has no reasonable objection, solely for the purpose of determining the payments to Acumen hereunder. Such inspections may be made no more than once each Calendar
Year, at reasonable times and on reasonable notice; provided that if a material underpayment is identified an additional inspection may be made in that Calendar Year. The accounting firm shall disclose to Acumen only whether the royalty
reports are correct or incorrect and the specific details concerning any discrepancies. No other information shall be provided to Acumen. Inspections conducted under this Section 7.4 shall be at the expense of Acumen, unless a variation or
error producing an increase exceeding the greater of [***] and [***] of the amount stated for any period covered by the inspection is established in the course of any such inspection, whereupon all reasonable costs relating to the inspection and any
unpaid amounts that are discovered will be paid promptly by Merck together with interest thereon, at the rate specified in Section 7.2, from the date such payments were due. Any interest paid to Acumen pursuant to this Section 7.4 shall in
no way limit any other remedies available to Acumen. Acumen shall treat all financial information subject to review under this Section 7.4 or under any sublicense agreement in accordance with the confidentiality and non-use provisions of this Agreement, and shall cause its accounting firm to enter into an acceptable confidentiality agreement with Merck and/or its Affiliate or Sublicensee obligating it to retain all such
information in confidence pursuant to such confidentiality agreement. 
 7.5 Withholding Taxes. If any withholding taxes become
payable by reason of an assignment or other transfer of this Agreement by Merck to a foreign Affiliate, an assignment otherwise in accordance with this Agreement, or as a result of a change in the domicile of Merck or its Affiliate, any deductions
by Merck for withholding taxes on payments due Acumen hereunder shall be not be made to the extent that Acumen is not able to realize any current tax reduction as a result of claiming a foreign tax credit on such withholding taxes. In such case,
payment to Acumen shall not be reduced by such withholding taxes, and Merck shall be responsible for the payment of, and shall pay, all such taxes for which Acumen is not able to realize a current tax reduction as a result of claiming a foreign tax
credit. Acumen shall be required to use its commercially reasonable efforts to claim any available foreign tax credits or deductions arising from the payment of withholding taxes by Merck, and thereby reduce the amount of U.S. income tax payable by
Acumen, and shall refund to Merck the amount of such reduction in tax resulting from the use of such deduction or foreign tax credit within 30 days of the filing of Acumen’s federal income tax return utilizing such deduction or credit. 

  
 -26- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 ARTICLE 8 

DILIGENCE 
 8.1
General. Merck shall [***] Antibody Product in the Therapeutic Field in the Territory and, if Merck exercises the Vaccine Option pursuant to Section 6.3, [***] Vaccine Product in the Therapeutic Field in the Territory, [***]
(“Active Program”). For avoidance of doubt, Merck discontinuing the development or commercialization of a particular Product due to Merck’s reasonable belief that the Product is not safe for use in the Treatment of humans shall
not cause Merck to be in breach of this Section 8.1; provided that Merck has otherwise met and continues to meet its obligations under this Section 8.1, [***] Product of the same type (i.e. Antibody Product or Vaccine Product) as
the [***]. 
 8.2 Development Milestone Prepayments. 

8.2.1 Outside Dates. Without limiting Section 8.1 or any of Merck’s other obligations under this Agreement, if Merck
fails to achieve for a first Antibody Product one of the [***] milestones under Section 6.4 by the applicable outside date therefor specified in this Section 8.2.1 below (each an “Outside Date”), then Merck shall pay to
Acumen, within [***] days after such failure, the milestone prepayment set forth in this Section 8.2.1 below for the missed milestone. 
  

					
	 Development Milestone
	  	 Outside Date
	  	 Milestone Prepayment

	 Section 6.4.1(1)
	  	[***]	  	[***]
	 Section 6.4.1(2)
	  	[***]	  	[***]
	 Section 6.4.1(3)
	  	[***]	  	[***]

 8.2.2 Additional Prepayments After Missed Milestone. Without limiting Section 8.1 or any of
Merck’s other obligations under this Agreement, if a prepayment has become payable under Section 8.2.1 for a milestone for an Antibody Product based upon any of Sections 6.4.1(1), (2) or (3), and Merck fails to achieve by an extension date
set forth in this Section 8.2.2 below (each an “Extension Date”) such milestone for the first Antibody Product, then Merck shall pay to Acumen the additional prepayment set forth in this Section 8.2.2 for the particular
Extension Date. 
  

			
	 Extension Date
	  	 Required Prepayment for

Failure to Achieve Milestone

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

  
 -27- 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 8.2.3 Additional Terms. For clarity, the prepayments in this Section 8.2
shall be made for the first Antibody Product. All prepayments made pursuant to this Section 8.2 shall be non-refundable, but shall be credited only against the milestone payment that becomes payable under
Section 6.4.1 upon completion of that same milestone for the first or any subsequent Antibody Product. No prepayment under this Section 8.2 for a milestone under Section 6.4.1 with respect to an Antibody Product may be credited
against a milestone payment with respect to a Vaccine Product pursuant to Section 6.4.1. 
 8.2.4 No Limitation. The
payments under this Section 8.2 will not alone be deemed to satisfy the requirements of Section 8.1, including the obligation to maintain [***]. Similarly, achieving a milestone by an Outside Date or an Extension Date shall not necessarily
mean that Merck has otherwise met its diligence obligations under this Agreement. 
 8.3 Diligence Payment with regard to Diagnostic
Product. Merck shall pay a fee of [***] payable [***] to Acumen commencing upon [***] of the Amendment Effective Date, and continuing until Merck, its Affiliate or sublicensee has [***]. The provisions of Sections 8.1 and 8.2 shall
not apply to Diagnostic Products; provided, however, that upon [***], the provisions of Section 8.1 (but not Section 8.2) shall apply to such Diagnostic Product. 

ARTICLE 9 

INTELLECTUAL PROPERTY 
 9.1
Ownership; Disclosure. 
 9.1.1 Sole Ownership. Subject to the terms and conditions of this Agreement, Acumen
shall retain all of its rights, title and interest in and to the Acumen Technology owned by Acumen as of the Effective Date, and shall solely own all right, title and interest in and to all Inventions, Patent Rights, and Know-How invented after the Effective Date solely by personnel of Acumen. Likewise, subject to the terms and conditions of this Agreement, Merck shall retain all of its rights, title and interest in and to the Merck
Patent Rights and Know-How owned by Merck as of the Effective Date, and shall solely own all right, title and interest in and to all Inventions, Patent Rights, and
Know-How invented after the Effective Date solely by personnel of Merck. The transfer of ownership of the applicable Inventions, Patent Rights, and Know-How to any Third
Party for any purpose other than as expressly set forth in this Agreement shall be deemed an assignment of rights under this Agreement and shall be permissible only to the extent permissible pursuant to Section 15.3, and regardless of such
assignment shall be subject to the rights granted to the other Party under this Agreement. 
 9.1.2 Joint Ownership. Merck and
Acumen shall jointly own an equal undivided interest in all right, title and interest in and to all Joint Inventions. Except as expressly provided in this Agreement, neither Party shall have any obligation to account to the other for profits, or to
obtain any consent of the other Party to license or exploit, Joint Inventions (whether or not patented), by reason of joint ownership thereof, and each Party hereby waives any right it may have under the laws of any jurisdiction to require any such
consent or accounting. 
 9.1.3 For purposes of this Section 9.1, “invented” shall be interpreted and applied consistent with
the concept of “inventorship” as defined under United States patent laws. 

  
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 9.2 Patent Prosecution and Maintenance. 

9.2.1 Generally. As used herein, “Prosecution and Maintenance” shall mean the preparation, filing, prosecution
and maintenance of Patent Rights, including but not limited to any interferences, re-examinations, reissues, oppositions and the like. 

9.2.2 Patent Rights in the Therapeutic Field and Diagnostic Field. 

(a) Effective as of the Amendment Effective Date, Merck shall have the sole and exclusive right to control and perform the Prosecution and
Maintenance of the Acumen Patent Rights and Joint Patent Rights, at Merck’s expense, including through the use of outside counsel selected by Merck and reasonably acceptable to Acumen. In Merck’s execution of its rights with respect to the
Acumen Patent Rights and Joint Patent Rights, Acumen shall retain the rights reserved for the non-filing party under Section 9.2.2(b). Acumen shall execute such documents and perform such acts at
Acumen’s expense and in a timely manner as may be reasonably necessary to allow Merck to Prosecute and Maintain such Acumen Patent Rights and Joint Patent Rights. Merck shall have the exclusive right to control and perform Prosecution and
Maintenance of Merck Patent Rights, with no obligation to Acumen regarding such Prosecution and Maintenance. Merck’s right to Prosecute and Maintain Acumen Patent Rights and Joint Patent Rights shall be irrevocable, unless the Agreement is
terminated pursuant to Article 13, in which case Merck and Acumen shall cooperate to promptly execute such documents and perform such acts as may be reasonably necessary to allow Acumen to Prosecute and Maintain Acumen Patent Rights. 

(b) In each case relating to Acumen Patent Rights or Joint Patent Rights, the filing Party will promptly provide to the other Party, as such
other Party reasonably requests, copies of correspondence with the applicable patent offices pertaining to such Prosecution and Maintenance by the filing Party. Without limiting the foregoing, the filing Party will give the non-filing Party an opportunity to review correspondence and the text of new applications before filing, shall consult with the non-filing Party with respect thereto,
reasonably considering feedback, and shall supply the non-filing Party with a copy of each application as filed, together with notice of its filing date and serial number. The filing Party shall promptly give
notice to the non-filing Party when the filing Party becomes aware of the grant, lapse, revocation, surrender, invalidation, or abandonment of any Acumen Patent Right or Joint Patent Right for which such Party
has Prosecution and Maintenance responsibility under this Section 9.2.2 above. Similarly, the filing Party shall promptly give notice to the non-filing Party when the filing Party intends to discontinue
Prosecution and Maintenance of such an Acumen Patent Right or Joint Patent Right, and in such event the Parties will cooperate reasonably to transition Prosecution and Maintenance to the non-filing Party if
requested, as described above. In the event Merck discontinues Prosecution and Maintenance of Acumen Patent Right(s) on a world-wide basis and such Prosecution and Maintenance thereafter is transitioned to Acumen, such Acumen Patent Right(s) shall
no longer be included within the definition of Acumen Diagnostic Patent Rights or Acumen Patent Rights. Upon request by Acumen and at Acumen’s expense, Merck agrees to file, and transfer to Acumen the right for the Prosecution and Maintenance
of, divisional patent applications covering claims within the Acumen Patent Rights to the extent that such claims are not Excluded Claims. “Excluded Claims” shall mean any and all claims that cover the composition of or process of making
[***] or (until expiration of the Option Period for the Vaccine Option) [***] in any field, or use of such [***] in the Diagnostic Field or Therapeutic Field. 

  
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Notwithstanding the foregoing, if (i) Merck decides not to continue the Prosecution and Maintenance of any Excluded Claim contained in the Acumen Patent Rights or Joint Patent Rights, and
(ii) such Excluded Claim relates to the research, development or commercialization of Small Molecule Products (or Vaccine Products, unless prior to such time Merck has exercised the Vaccine Option pursuant to Section 5.3.2), Merck shall
promptly notify Acumen of such decision, and upon Acumen’s request, file, and transfer to Acumen the right for the Prosecution and Maintenance of, divisional patent applications covering such Excluded Claim. 

(c) Without limiting Section 9.2.2(b), each Party shall, within [***] days of learning of such event, inform the other Party of any
request for, or filing or declaration of, any interference, opposition, reissue, or reexamination relating to a Joint Patent Right or Acumen Patent Right. The Parties shall thereafter consult and cooperate fully to determine a course of action with
respect to any such proceeding. Merck shall control such proceedings for Acumen Patent Rights and Joint Patent Rights, provided that Acumen shall have the right to review and comment on any submission to be made in connection with such
proceeding and Merck will reasonably consider such comments. In connection with any interference, opposition, reissue, or reexamination proceeding relating to any such Patent Right, the Parties will cooperate fully and will provide each other with
information or assistance that either may reasonably request. Each Party shall keep the other Party informed of developments in any such action or proceeding. 

(d) With respect to all costs of Prosecution and Maintenance hereunder, Merck shall be responsible for payment of all of its own costs and
expenses related to such Prosecution and Maintenance and all out-of-pocket costs incurred by Merck and (upon prior written approval by Merck) all reasonable out of
pocket expenses incurred by Acumen related to such Prosecution and Maintenance. Merck shall consult with Acumen as described in Section 9.2.2(b) and 9.2.2(e). 

(e) Each Party agrees to cooperate fully with the other Party, to provide the filing Party with such information and assistance as it
reasonably requests, and to facilitate its Prosecution and Maintenance in accordance with the foregoing, including, without limitation, executing and filing applications, registrations, powers of attorney, oaths and other appropriate documents,
providing appropriate consents and/or authorizations, and joining in any administrative or judicial action relating to the prosecution or maintenance of any applications, for Patents Rights. 

9.2.3 Diagnostic Patents Rights. Prosecution and Maintenance of the Patent Rights included in the Acumen Diagnostic IP
(“Acumen Diagnostic Patents”), and the Patent Rights included in the Merck Diagnostic IP (“Merck Diagnostic Patents”), shall be controlled and performed in the same manner described in Section 9.2.2 above. 

9.2.4 Cooperation. Each Party agrees to reasonably cooperate with the other Party in its performance of the activities under this
Section 9.2 and in order to effect and perfect any assignment in accordance with the foregoing. 
 9.3 Enforcement. 

9.3.1 Notice and Enforcement Rights. Each Party shall promptly notify the other if it becomes aware of any potential infringement
of the Acumen Patent Rights or Joint Patent Rights by the manufacture, use, sale, or import of product by a Third Party in the Therapeutic Field or the Diagnostic Field in the Territory which is within the definition of a Product hereunder in the
Therapeutic Field or the Diagnostic Field in the Territory (each, an “Infringement”). 

  
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 (a) [***] shall have the initial right, but not the obligation, to take reasonable legal
action to enforce the Acumen Patent Rights against any Infringement by a Third Party, or defend any Acumen Patent Right against a declaratory judgment action or any other claim of invalidity (including without limitation any and all defenses,
petitions, appeals, protests, conflict proceedings, nullity actions, invalidation proceedings, patent revocations, inventorship challenges, ownership challenges, invalidity actions and the like), at its sole expense. If, within [***] months after
receiving a request from [***] that [***] commence litigation in an effort to terminate a commercially significant Infringement, [***] fails or elects not to initiate such litigation to abate such Infringement, then [***] shall have the right, upon
[***] written approval (not to be unreasonably withheld) and at [***] sole expense, to initiate such legal action. If, within a reasonable period of time after receiving notice of such declaratory judgment action, [***] elects not to take action to
defend such action, then [***] shall have the right, upon [***] written approval (not to be unreasonably withheld) and at [***] sole expense, to defend such legal action. For clarity, [***] right to enforce Acumen Patent Rights under this
Section 9.3 shall only apply to Infringements involving [***] or (until expiration of the Option Period under the Vaccine Option) [***] in the Therapeutic Field or Diagnostic Field. [***] shall retain the exclusive right to enforce the Acumen
Patent Rights as to all other infringement, at [***] sole expense and [***]. 
 (b) [***] shall have the initial right, but not the
obligation, to take reasonable legal action to enforce the Joint Patent Rights against any Infringement by a Third Party, or defend any Joint Patent Right against a declaratory judgment action or any other claim of invalidity, at its sole expense.
If, within [***] months after receiving a request from [***] that [***] commence litigation in an effort to terminate a commercially significant Infringement, [***] fails or elects not to initiate such litigation to abate such Infringement, then
[***] shall have the right, upon [***] written approval (not to be unreasonably withheld) and at [***] sole expense, to initiate such legal action. [***] shall have the exclusive right to take or not take legal action to enforce Merck Patent Rights,
with [***]. 
 9.3.2 Cooperation; Costs and Recoveries. 

(a) Cooperation. If a Party (the “Controlling Party”) brings an infringement action in the applicable forum
with respect to an Infringement in accordance with Section 9.3.1 above, or defends against a declaratory judgment action with respect to an asserted Infringement, (each an “Infringement Action”), then the other Party
(the “Cooperating Party”) shall cooperate as reasonably requested, at such Controlling Party’s expense, in the pursuit of such Infringement Action, including if necessary by joining as a nominal Party to the Infringement Action
or taking such other actions as are necessary for standing or for the Controlling Party to otherwise maintain or pursue the Infringement Action; provided that the Controlling Party shall indemnify the Cooperating Party against any liability
therefrom. The Controlling Party shall have the right to use counsel of its choice in such action, provided that the Cooperating Party shall have the right, even if not required to be joined, to participate in such Infringement Action with
its own counsel at its own expense. The Controlling Party shall keep the Cooperating Party reasonably informed with respect to the progress or disposition of any Infringement Action hereunder, including reasonable consultation and approval regarding
any settlements. 

  
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 (b) Costs and Recoveries. The costs and expenses of the Infringement Action
shall be the responsibility of the Controlling Party, and any damages or other monetary rewards or settlement payments received by the Controlling Party shall first be applied to reimburse the Controlling Party’s costs and expenses attributed
to the Infringement Action, and the remainder shall be shared as follows: [***]. 
 9.4 Patent Term Extension. The Parties
shall cooperate in obtaining patent term extensions or supplemental protection certificates or their equivalents in any country in the Territory where applicable to Acumen Patent Rights. If elections with respect to obtaining such patent term
extensions are to be made, Merck shall have the right to make the election to seek patent term extension or supplemental protection. 
 9.5
Third Party Technology. 
 9.5.1 Existing Agreements. Notwithstanding anything to the contrary, the Parties
acknowledge that all rights granted, and obligations incurred, by Acumen under this Agreement shall be subject to and limited by the terms and conditions of the Northwestern License and the USC License. Without limiting the foregoing or any other
obligations, Merck shall cooperate reasonably with Acumen to provide the information otherwise required to be provided under this Agreement for the purpose of enabling Acumen to disclose in a timely manner, under the Northwestern License and the USC
License, information regarding the development and commercialization activities by or under authority of Merck under this Agreement as reasonably necessary to meet Acumen’s reporting obligations under the Northwestern License or the USC License
with respect to such activities. Additionally, each of the obligations that the Northwestern License or the USC License requires be made applicable to Merck, such as without limitation indemnity obligations and obligations to maintain insurance, are
here by made applicable to Merck, and Merck shall comply with such obligations. 
 9.5.2 Additional Agreements. Acumen shall
endeavor in good faith, during the Research Term and so long as meetings of the DAC (including Acumen’s representative) are held pursuant to Section 4.2.4, to cooperate with Merck in determining which, if either, Party should obtain an
exclusive license for Third Party rights to any Patent Rights, or Know-How, directed to ADDL Antigens and/or ADDL Antibodies in the Therapeutic Field, but shall have no obligation to cooperate with Merck to
the extent of obtaining a license for applications other than ADDL Antibodies, ADDL Antigens or Products, each in the Therapeutic Field. If the Party granting a license, sublicense or other right under this Agreement (the “Grantor”)
licenses or acquires from a Third Party rights to any Patent Rights or Know-How after the Effective Date that is subject to royalty or other payment obligations to the Third Party (“Third Party
Technology”), then the grant of such rights to the other Party hereunder (the “Grantee”) shall be subject to the Grantee agreeing in writing to pay the Grantor (i) any and all royalties payable to the Third Party with
respect to such Third Party Technology that become payable by reason of Grantee’s exercise of such rights hereunder and (ii) that portion of any upfront license fees, milestone payments and other similar

  
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(non-royalty) amounts reasonably allocated to the rights granted to the Grantee hereunder (taking into consideration the benefits of such rights under such
Third Party Technology to each Party). Upon request of the Grantee, the Grantor shall disclose to the Grantee a true, complete and correct written description of such payment obligations. In the event that the Parties are unable to agree upon an
allocation under this Section 9.5.2, then the matter shall be settled in accordance with Section 14.2. 
 ARTICLE 10

 CONFIDENTIALITY 

10.1 Confidential Information. Except as otherwise expressly provided herein, the Parties agree that the receiving Party shall
not, except as expressly provided in this Article 10, disclose to any Third Party or use for any purpose any information furnished to it by the other Party pursuant to this Agreement that is (i) of the type generally deemed to be proprietary
within the pharmaceutical industry or (ii) that if disclosed in tangible form is marked “Confidential” or with other similar designation to indicate its confidential or proprietary nature or if disclosed orally is indicated to be
confidential or proprietary by the Party disclosing such information at the time of initial disclosure and is confirmed in writing as confidential or proprietary by the disclosing Party within a reasonable time after such disclosure (collectively,
“Confidential Information”), except to the extent that it can be established by the receiving Party by competent proof that such information: 

10.1.1 was already known to the receiving Party at the time of disclosure; 

10.1.2 was generally available to the public or otherwise part of the public domain at the time of its disclosure to the receiving Party; 

10.1.3 became generally available to the public or otherwise part of the public domain after its disclosure and other than through any act or
omission of the receiving Party in breach of this Agreement; 
 10.1.4 was independently developed by the receiving Party as demonstrated by
documented evidence prepared contemporaneously with such independent development; or 
 10.1.5 was disclosed to the receiving Party, by a
Third Party who had no obligation to the disclosing Party not to disclose such information to others. 
 10.2 Permitted Use and
Disclosures. Each Party hereto may use or disclose Confidential Information disclosed to it by the other Party to the extent such use or disclosure is reasonably necessary (a) in the exercise of the rights granted to it hereunder, or
(b) in prosecuting or defending litigation, enforcing this Agreement or the rights hereunder, complying with applicable laws, regulations (including securities laws and regulations) or court order or otherwise submitting information to tax or
other governmental authorities, including any required financial disclosures as reasonably required by its independent auditors; or (c) as deemed necessary by Merck to be disclosed to its Affiliates and Sublicensees, agents, consultants, and/or
other Third Parties for any and all purposes Merck and its Affiliates deem necessary or advisable for the research and development, manufacturing and/or marketing of Product(s) (or for such entities to determine their interest in performing such
activities) in accordance with this Agreement; or (d) as deemed 

  
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necessary by Acumen to be disclosed to potential licensees other than for Products in the Therapeutic Field and Diagnostic Field (provided that such disclosures by Acumen shall be limited
to the relevant provisions of Article 5 hereof); in all cases on the condition that any Third Parties to whom Confidential Information is disclosed agree to be bound by the confidentiality and non-use
obligations contained this Agreement and provided the term of confidentiality for such Third Parties shall be no less than [***] years; and provided further that if a Party is required by law to make any such disclosure, other
than pursuant to a confidentiality agreement, it will give reasonable advance notice to the other Party of such disclosure and, save to the extent inappropriate in the case of patent applications or the like, will use its reasonable efforts to
secure confidential treatment of such information in consultation with the other Party prior to its disclosure (whether through protective orders or otherwise) and disclose only the minimum necessary to comply with such requirements. 

10.3 Nondisclosure of Terms. 

10.3.1 Each of the Parties hereto agrees not to disclose the [***] of this Agreement to any Third Party without the prior written consent of
the other Party hereto, which consent shall not be unreasonably withheld or delayed, except as permitted pursuant to Section 10.2, and [***] that such [***] of this Agreement may be disclosed to [***], and (with the consent of Merck not to be
unreasonably withheld) others on a need to know basis, or in connection with a merger, acquisition of stock or assets, proposed merger or acquisition, as a part of such entities’ due diligence investigations, or the like, provided that
such entities to whom confidential information is disclosed agree in writing to abide by confidentiality and non-use provisions substantially equivalent to those contained in this Article 10 (other than
Section 10.4 below) and provided the term of confidentiality for such Third Parties shall be no less than [***] years; and such [***] of this Agreement may additionally be disclosed as reasonably advised by a Party’s legal advisors
or accountants to comply with any law, regulation or order, or any requirement of a government body. 
 10.3.2 Notwithstanding the foregoing,
Acumen or Merck may issue for public disclosure the press release attached hereto as Exhibit 10.3; thereafter, Acumen and Merck may each disclose to Third Parties the information contained in such press release without the need for further
approval by the other. The Parties will consider in good faith any request by the other Party for a public disclosure not otherwise permitted pursuant to this Section 10.3, but shall not be obligated to consent to such public disclosure. In the
event of any termination of this Agreement under Article 13, the Parties shall agree on an announcement of such termination provided that the Parties shall use reasonable efforts to fashion such announcement so as to minimize any negative
impact on either Party as a result of such announcement. 
 10.4 Publication. Any manuscript by Acumen or Merck describing
scientific results pertaining to studies of any Product to be published or publicly disclosed, shall be subject to the prior review of the other Party at least [***] days prior to submission. If such scientific results contain the information of the
other Party that is subject to use and nondisclosure restrictions under this Article 10, the publishing Party agrees to remove such information from the proposed publication or disclosure. Further, if the
non-publishing Party believes the publication of such results would be unfairly damaging to the Product or such Party, and has a reasonable basis for not publishing such results, then upon request within such
[***] day period the results shall not be so published until the matter is resolved. If the matter cannot be resolved between the Parties by mutual agreement, it shall be resolved in accordance with Article 14 below. 

  
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 10.5 Residuals. Notwithstanding anything to the contrary in this Article 10,
the Parties agree that [***] shall not be considered a breach of this Agreement. This Section 10.5 shall not be deemed to extend to any Patent Rights in such concepts. 

ARTICLE 11 

REPRESENTATIONS AND WARRANTIES 

11.1 Warranty. Each Party represents and warrants on its own behalf and on behalf of its Affiliates that as of the Effective Date
and again as of the Amendment Effective Date: (i) it has the legal power and authority to enter into this Agreement and to perform all of its obligations hereunder; (ii) it has and will have the right and authority to grant the rights and
licenses granted by it hereunder; (iii) this Agreement is a legal and valid obligation binding upon it and enforceable in accordance with its terms; (iv) it has not previously granted, and during the Term of this Agreement will not
knowingly make any commitment or grant, any rights which are in conflict in any material way with the rights and licenses granted herein; and (v) as of the Effective Date it is not controlled by any other entity. 

11.2 Additional Warranty of Acumen. 

In addition, Acumen represents and warrants that, to the best of its knowledge as of the Effective Date and again as of the Amendment Effective
Date, (i) Acumen is the only party authorized to grant licenses under the Acumen Technology and Acumen Diagnostic IP except as otherwise provided in this Agreement; (ii) prosecution of the Acumen Patent Rights by Acumen has been in good
faith; (iii) Acumen Technology and Acumen Diagnostic IP is not subject to any lien or encumbrance; (iv) there have been no claims, judgments, or settlements against or owed by Acumen and there are no pending or threatened claims or
litigation relating to the Acumen Technology or Acumen Diagnostic IP; (v) to the best of Acumen’s knowledge as of the Effective Date, Acumen’s contemplated activities pursuant to the Research Plan do not infringe valid patents issued
to Third Parties; and (vi) the Northwestern License and the USC License have not been breached by Acumen and are to the best of Acumen’s knowledge as of the Effective Date are in force and effect. Acumen shall notify Merck in writing
immediately upon receiving any notice (i) from Northwestern University regarding any allegation of a breach of the Northwestern License, or (ii) from the University of Southern California regarding any allegation of a breach of the USC
License. 
 11.3 Disclaimer. MERCK AND ACUMEN SPECIFICALLY DISCLAIM ANY GUARANTEE THAT THE RESEARCH PROGRAM WILL BE SUCCESSFUL,
IN WHOLE OR IN PART. THE PARTIES ACKNOWLEDGE THAT THERE IS NO GUARANTEE THAT THEY WILL BE ABLE TO DEVELOP SUCCESSFULLY PRE-CLINICAL CANDIDATES, ADDL ANTIBODIES, ADDL ANTIGENS OR PRODUCTS. EXCEPT AS OTHERWISE
EXPRESSLY SET FORTH IN THIS AGREEMENT, ACUMEN AND MERCK MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE ACUMEN TECHNOLOGY, LICENSED INGREDIENTS, PRODUCTS OR INFORMATION
DISCLOSED HEREUNDER, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OF ANY ACUMEN TECHNOLOGY, PATENTED OR UNPATENTED, OR NONINFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES.

  
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 ARTICLE 12 

INDEMNIFICATION 
 12.1
Merck. Merck agrees to indemnify, defend and hold Acumen and its respective directors, officers, employees, agents and their respective successors, heirs and assigns (the “Acumen Indemnitees”) harmless from and against
any and all losses, costs, claims, damages, liabilities or expense (including reasonable attorneys’ and professional fees and other expenses of litigation) (collectively, “Liabilities”) arising, directly or indirectly out of or
in connection with Third Party claims, suits, actions, demands or judgments, relating to (i) any Products or Diagnostic Products developed, manufactured, used, sold or otherwise distributed by or on behalf of Merck, its Affiliates or
Sublicensees or other designees or sublicensees (including, without limitation, product liability and patent infringement claims other than claims concerning Diagnostic Products sold by Acumen or its Affiliates or Sublicensees), or (ii) any
breach by Merck of the representations and warranties made in this Agreement, except, in each case, to the extent such Liabilities result from a material breach of this Agreement, negligence or intentional misconduct by Acumen. 

12.2 Acumen. Acumen agrees to indemnify, defend and hold Merck and its respective directors, officers, employees, agents and
their respective successors, heirs and assigns (the “Merck Indemnitees”) harmless from and against any Liabilities arising, directly or indirectly out of or in connection with Third Party claims, suits, actions, demands or
judgments, relating to (i) any Diagnostic Products developed, manufactured, used, sold or otherwise distributed by or on behalf of Acumen, its Affiliates or Sublicensees or other designees or sublicensees (including, without limitation, product
liability and patent infringement claims related thereto other than claims relating to Diagnostic Products sold by Merck or its Affiliates or sublicensees); or (ii) any breach by Acumen of its representations and warranties made in this
Agreement, except, in each case, to the extent such Liabilities result from a material breach of this Agreement, negligence or intentional misconduct by Merck. 

12.3 Procedure. In the event that any Indemnitee (either a Merck Indemnitee or a Acumen Indemnitee) intends to claim
indemnification under this Article 12 it shall promptly notify the other Party in writing of such alleged Liability. The indemnifying Party shall have the right to control the defense thereof with counsel of its choice as long as such counsel is
reasonably acceptable to Indemnitee; provided, however, that any Indemnitee shall have the right to retain its own counsel at its own expense, for any reason, including if representation of any Indemnitee by the counsel retained by the
indemnifying Party would be inappropriate due to actual or potential differing interests between such Indemnitee and any other party reasonably represented by such counsel in such proceeding. The affected Indemnitee shall cooperate with the
indemnifying Party and its legal representatives in the investigation of any action, claim or liability covered by this Article 12. The Indemnitee shall not, except at its own cost, voluntarily make any payment or incur any expense with respect to
any claim or suit without the prior written consent of the indemnifying Party, which such Party shall not be required to give. 

  
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 ARTICLE 13 

TERM AND TERMINATION 
 13.1
Term. The term of this Agreement shall commence on the Effective Date, and shall continue in full force and effect on a country-by-country and Product-by-Product basis until Merck has no remaining royalty payment obligations in such country with respect to such Products, unless terminated earlier as provided in this
Article 13 (the “Term”). 
 13.2 Termination for Breach. Either Party to this Agreement may terminate this
Agreement in the event the other Party hereto shall have materially breached or defaulted in the performance of any of its material obligations hereunder, and such default shall have continued for [***] days after written notice thereof was provided
to the breaching Party by the non-breaching Party. Any termination shall become effective at the end of such [***] day period unless the breaching Party has cured any such breach or default prior to the
expiration of the [***] day period. Notwithstanding the foregoing, (i) in the event of a failure to pay any amount due hereunder, such default may be the basis of termination [***] days following the date that notice of such default was
provided to the breaching Party if such default is not cured within such [***] day period; and (ii) in the event of a dispute between the Parties as to whether a breach has occurred, [***] 

13.3 Permissive Termination by Merck. At any time after [***] months after the Effective Date, Merck shall have the right to
terminate this Agreement, without cause, upon [***] days prior written notice. 
 13.4 Termination For Bankruptcy. Either Party
hereto shall have the right to terminate this Agreement forthwith by written notice to the other Party (i) if the other Party is declared insolvent or bankrupt by a court of competent jurisdiction, (ii) if a voluntary or involuntary
petition in bankruptcy is filed in any court of competent jurisdiction against the other Party and such petition is not dismissed within [***] days after filing, (iii) if the other Party shall make or execute an assignment of substantially all
of its assets for the benefit of creditors, or (iv) substantially all of the assets of such other Party are seized or attached and not released within [***] days thereafter. 

13.5 Effect of Expiration or Termination. 

13.5.1 Accrued Rights and Obligations. Termination of this Agreement for any reason shall not release either Party hereto from
any liability which, at the time of such termination, has already accrued to the other Party or which is attributable to a period prior to such termination nor preclude either Party from pursuing any rights and remedies it may have hereunder or at
law or in equity with respect to any breach of this Agreement. 
 13.5.2 Survival. 

(a) In the event of expiration or termination of this Agreement for any reason, other than termination under [***], the following shall
survive: [***]. 

  
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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
Any responsibility of Merck [***] shall survive. The Research Program shall terminate upon any termination or expiration of this Agreement. In addition, terms and conditions shall survive as
further described in this Section 13.5 below. Except as otherwise expressly provided in this Article 13, the licenses, terms and conditions of this Agreement shall terminate. 

(b) Notwithstanding anything to the contrary, in the event of termination of this Agreement under [***] but other than this
Section 13.5.2(b) shall be considered [***] in the same manner as if this Agreement had [***] by the Parties hereto. For clarity, but without limitation, other than this Section 13.5.2(b), [***]. 

13.5.3 Effects of Expiration. Following expiration of the term of this Agreement with respect to a Product in a country pursuant
to Section 13.1, Merck’s license under Section 5.1.1, and if Merck exercised the Vaccine Option 5.1.2, shall become perpetual and fully-paid with respect to such Product in such country. In the event of expiration of the Term [***],
Merck’s licenses under Section 5.1.1 and 5.1.2 (if Merck exercised the Vaccine Option) shall become perpetual and fully-paid with respect to all Products. In addition, the provisions of Sections 5.4 and 5.6 shall survive. 

13.5.4 Effects of Certain Terminations. 

(a) Termination by Acumen for Cause or Merck’s Bankruptcy. In the event of termination of this Agreement (i) by
Acumen pursuant to Section 13.2 for Merck’s material breach or default; or (ii) by Acumen pursuant to Section 13.4; then the terms and conditions in this Section 13.5.4(a) shall apply. 

(1) Termination of Licenses and Option. [***]. 

(2) Retained Products. 

(A) If the Agreement is terminated as a result of Merck’s material breach, and on the date that Acumen provides Merck with written notice
of a material breach, Merck is conducting clinical development or commercial sales of an Antibody Product, Diagnostic Product or Vaccine Product (an “Existing Product”) and Merck can reasonably demonstrate that its material breach
does not substantially diminish the value of Acumen’s rights or interests under this Agreement with respect to Existing Product that are not the subject of the material breach, then (1) solely with respect to such Existing Products not the
subject of the breach (“Retained Products”), (x) Merck shall retain the rights and obligations to continue the development and commercialization of such Retained Product, in accordance with the terms and conditions of this Agreement
(including the payment of any milestones and royalties and Articles 4 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
and 8) in effect prior to termination; and (y) Acumen shall not be entitled to develop or commercialize such Retained Product, and the provisions of Section 13.5.4(a)(1) shall not apply
to such Retained Product; and [***]. For clarity, but without limitation, it is understood that, subject to any tolling of the cure period pursuant to Section 13.2, [***]. 

(B) If Merck has [***] for any Retained Product in any country in the Territory, before Acumen provides written notice of a material breach
and such breach does not relate to Merck’s development or commercialization of such Retained Product in such country, then Merck shall retain its rights to develop and commercialize such Retained Product in such country in accordance with the
terms and conditions of this Agreement (including the payment of any milestones and royalties and Articles 4 and 8) in effect prior to termination. 

(3) Use of Joint Inventions and of Products Other than Retained Products. 

(A) [***] 
 (B) [***] 

(C) [***]. 
 (4) Other Rights
and Obligations. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (A) Upon termination pursuant to this Section 13.5.4(a), [***] (“Reverted
Products”), in each case to [***] 
 (B) [***] 

(C) If termination occurs after submission of an MAA for a Product, the Parties shall negotiate in good faith the terms upon which Merck [***]

 (D) [***] 
 (E) [***] 

(F) [***] 

  
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 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE
IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (G) Confidential Information. Merck, and its Affiliates and Sublicensees shall,
within [***] days after termination, return or cause to be returned to Acumen all Acumen Confidential Information in tangible form, and all substances, compositions, and other material in any medium, delivered or provided by Acumen; as well as all
copies thereof. 
 (H) Survival. Notwithstanding Section 13.5.2 or any other terms of this Agreement, after any termination of
the type described in Section 13.5.4(a) above, (i) [***] shall additionally survive; (ii) [***] shall additionally survive, (iii) [***]; (v) the remainder of recoveries, after reimbursement of costs and expenses, shall be
allocated [***] to Acumen and [***] to Merck under Section 9.3.2(b); (vi) Acumen’s right under [***] to licensees for Product in the Therapeutic Field and Diagnostic Field; and (vii) [***]. 

(5) Safety Concerns. Notwithstanding anything in this Section 13.5.4(a), under no circumstances will Acumen be permitted in any
country to further develop in humans, or market for human consumption, a particular ADDL Antibody, a particular ADDL Antigen or a particular Product that has been discontinued by Merck if Merck reasonably believes such Product is not safe for use in
the Treatment of humans, and the provisions of Sections 13.5.4(a)(3) and (4) shall not apply to such ADDL Antibody, ADDL Antigen, or Product. 

(6) Vaccine Products. If the Vaccine Option was exercised, then the effects of termination with respect to Vaccine Products shall be
the same as set forth with respect to Antibody Products in Section 13.5.4(a)(2) and (5), [***] and the rights described in Section 13.5.4(a)(3) and (4) shall be deemed to extend to Vaccine Products [***]. 

(7) Diagnostic Products. The effects of termination with respect to Diagnostic Products shall be the same as set forth with respect to
Antibody Products in Section 13.5.4(a)(2) and (5), [***] and the rights described in Section 13.5.4(a)(3) and (4) shall be deemed to extend to Diagnostic Products [***]. 

(b) Termination by Merck Pursuant to Section 13.3. In the event of termination of this Agreement by Merck pursuant
to [***] the terms and conditions in Section 13.5.4(a) shall apply (including without limitation Section 13.5.4(a)(4)(A)), provided, however, that the provisions of Section 13.5.4(a)(2) relating to Retained Products
shall not apply, and in addition, the provisions of Section 13.5.4(b)(1) and (2) below shall apply. In the event of termination of this Agreement by [***], then the provisions of Section 13.5.4(a)(2)-(6) shall not apply, and the
provisions of Section 13.5.4(b)(1), (2) and (3) shall apply. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (1) [***] 

(2) Royalties. In consideration of the rights and licenses in this Section 13.5.4(b), Acumen shall pay to Merck a royalty on the
Net Sales from sales of the Reverted Products by Acumen, or its Affiliate or Sublicensee, at a rate determined by the following schedule based upon the development that must be completed or reinitiated by Acumen in order to further develop and
commercialize the Reverted Product (determined on a Product by Product basis) except that the royalty applicable to Diagnostic Products shall be as set forth in Section 13.5.4(b)(5): 

 

			
	 Reversion Stage
	  	 Maximum Royalty

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

 Acumen shall have the right to offset against the royalties payable under this Section 13.5.4(b)(2) [***] of the royalties
that Acumen pays to third parties for the making, use, sale, offer for sale, or import of the Reverted Products; provided that such royalties shall not be reduced by more than [***]. For purposes of the royalties payable under this
Section 13.5.4(b)(2), Sections 6.7.7, 6.7.9, 6.8, and 6.9 shall apply for the benefit of Acumen in the same manner as the applied for the benefit of Merck. Royalties under this Section 13.5.4(b)(2) shall apply only for so long as the
Reverted Product would infringe a Valid Patent Claim in the country of sale. It is understood that for purposes of determining the applicable royalty, the “Reversion Stage” shall be based on the earlier of [***]. 

(3) Termination of Development and Commercialization of Product. If the termination is by Merck under Section 13.3, then Merck and
its Affiliates, and Sublicensees (including distributors) shall discontinue all development and sales of Antibody Product immediately upon termination, shall not thereafter develop or sell Antibody Products, and shall additionally discontinue at
such time making any representation with respect to any and all Antibody 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
Products that they are a licensee of or distributor for Acumen or are authorized to market or sell Antibody Products; and development and commercialization after providing notice of termination
under Section 13.3 shall be limited to transitioning Antibody Products to Acumen or its designee in accordance with this Section 13.5.4(a) above. 

(4) Vaccine Products. If the termination is by Merck under Section 13.3, then the effects of termination with respect to Vaccine
Products shall be the same as set forth with respect to Antibody Products in Section 13.5.4(b), including (1), (2), and (3). 
 (5)
Diagnostic Products. If the termination is by Merck under Section 13.3, then the effects of termination with respect to Diagnostic Products shall be the same as set forth with respect to Antibody Products in Section 13.5.4(b),
including (1), (2) and (3), provided that the maximum royalty shall not exceeded [***] the royalties in Section 6.7.1(b). 
 (c)
Termination by Merck for Cause or Acumen’s Bankruptcy. In the event of termination of this Agreement by Merck pursuant to Section 13.2 for Acumen’s material breach or default or pursuant to Section 13.4 for
Acumen’s bankruptcy; then the terms and conditions in this Section 13.5.4(c) shall apply.  
 (1) Licenses. [***]
provided, however, such licenses and the Vaccine Option shall continue to be subject to Merck’s payment obligations pursuant to Section 6.3 (license fee) Sections 5.3 (payments related to Vaccine Option), 6.4 and 6.5
(milestone payment) and 6.7 (royalties). 
 (2) [***] 

(3) Survival. In addition to the survival set forth in Section 13.5.2, the following provisions shall survive: [***]. [***]. With
respect to damages caused by Acumen’s breach which have been awarded to Merck by an arbitrator under Section 14.1, Merck shall be entitled to offset such damages against the amounts payable by Merck to Acumen under this Agreement. 

(4) Use of Joint Inventions, ADDL Antibodies and ADDL Antigens. 

(A) [***] 
 (B) [***] 

(C) [***] 
 (5) Other Rights
and Obligations. In addition to the other provisions set forth in Section 13.5.4(c): 
 (A) Acumen will disclose to Merck all
Acumen Know-How in Acumen’s possession that Acumen can rightfully disclose without violating any existing rights of any Third Party, generated by Acumen in the course of performing the Research Program,
and that was not previously disclosed to Merck; 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 (B) Acumen will cooperate with reasonable requests by Merck, and use reasonable efforts, to
achieve a smooth transition of any and all Research Program-related responsibilities to Merck. 
 (C) Confidential Information.
Acumen shall, within [***] days after termination, return or cause to be returned to Merck all Merck Confidential Information in tangible form, and all substances, compositions, and other material in any medium, delivered or provided by Merck; as
well as all copies thereof. 
 ARTICLE 14 

DISPUTE RESOLUTION 
 14.1
General. 
 14.1.1 The Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy or
claim as to the interpretation, effect, breach, termination of, or performance under, this Agreement, including, if necessary, a meeting between the Chief Executive Officer of Acumen and [***]. If the Parties do not fully settle, and a Party wishes
to pursue the matter, each such dispute, controversy or claim that is not an Excluded Claim shall be finally resolved by binding arbitration in accordance with the Comprehensive Arbitration Rules and Procedures of the Judicial Arbitration and
Mediation Services (“JAMS”), and judgment on the arbitration award may be entered in any court having jurisdiction thereof. 

14.1.2 The arbitration shall be conducted by a panel of three persons experienced in the
bio-pharmaceutical business: within [***] days after initiation of arbitration, each Party shall select one person to act as arbitrator and the two Party-selected arbitrators shall select a third arbitrator
within [***] days of their appointment. If the arbitrators selected by the Parties are unable or fail to agree upon the third arbitrator, the third arbitrator shall be appointed by JAMS. The place of arbitration shall be [***] and all proceedings
and communications shall be in English. 
 14.1.3 Either Party may apply to the arbitrators for interim injunctive relief until the
arbitration award is rendered or the controversy is otherwise resolved. Either Party also may, without waiving any remedy under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the
rights or property of that Party pending the arbitration award. Each Party shall bear its own costs and expenses and attorneys’ fees and an equal share of the arbitrators’ and any administrative fees of arbitration. 

14.1.4 Except to the extent necessary to confirm an award or as may be required by law, and subject to the exceptions for disclosure of
Confidential Information under Sections 10.1, 10.2 and 10.3, neither a Party nor an arbitrator may disclose the existence, content, or results of an arbitration without the prior written consent of both Parties. In no event shall an arbitration be
initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable Illinois statute of limitations. 

14.1.5 The parties further agree that any payments made pursuant to this Agreement pending resolution of the dispute shall be refunded if an
arbitrator or court determines that such payments are not due. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 14.1.6 As used in this Section 14.1, the term “Excluded Claim” shall
mean a dispute, controversy or claim that concerns [***] 
 14.2 Expedited Arbitration of Certain Disputes. In the event that
the Parties are unable to reach agreement regarding: [***], and the Parties have not resolved such dispute through good faith negotiations, such dispute will be resolved by binding arbitration in the manner described in Section 14.1 above,
except modified as follows. Notwithstanding Section 14.1 or the rules described in Section 14.1 above, the following provisions shall apply: 

14.2.1 [***] 
 14.2.2 [***] 

14.3 Injunctive Relief. Nothing in this Article 14 shall be construed to prohibit either Party from seeking preliminary or
permanent injunctive relief, restraining order or degree of specific performance in any court of competent jurisdiction at any time, to the extent not prohibited by this Agreement. For avoidance of doubt, any such equitable remedies provided under
this Article 14 shall be cumulative and not exclusive and are in addition to any other remedies, which either Party may have under this Agreement or applicable law. 

ARTICLE 15 

MISCELLANEOUS 
 15.1
Governing Laws. This Agreement and any dispute arising from the construction, performance or breach hereof shall be governed by and construed, and enforced in accordance with, the laws of the state of [***] and the patent laws of the
United States, without reference to conflicts of laws principles. The UN Convention on the International Sale of Goods or any another similar conventions or treaties shall not apply to this Agreement or activities in connection with this Agreement.

 15.2 Waiver. It is agreed that no waiver by either Party hereto of any breach or default of any of the covenants or
agreements herein set forth shall be deemed a waiver as to any subsequent and/or similar breach or default. 
 15.3 Assignment.
This Agreement shall not be assignable by either Party, including through a Change of Control, without the prior written consent of the other Party hereto, except as set forth in this Section 15.3, and any attempted assignment in violation of
this Section 15.3 shall be void. 
 15.3.1 [***] 

15.3.2 [***] 
 15.3.3 [***] 

15.3.4 Any permitted assignee shall assume all assigned obligations of its assignor under this Agreement. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 15.4 Independent Contractors. The relationship of the Parties hereto is that of
independent contractors. The Parties hereto are not deemed to be agents, partners or joint venturers of the others for any purpose as a result of this Agreement or the transactions contemplated thereby. 

15.5 Compliance with Laws. In exercising their rights and performing their obligations under this Agreement, the Parties shall
fully comply in all material respects with the requirements of any and all applicable laws, regulations, rules and orders of any governmental body having jurisdiction over the exercise of such rights or performance of such obligations including,
without limitation, those applicable to the discovery, development, manufacture, distribution, import and export and sale of Products pursuant to this Agreement. 

15.6 Patent Marking. Merck agrees to mark, and to ensure that its Affiliates and Sublicensees mark, all Products sold pursuant to
this Agreement in accordance with the applicable statute or regulations relating to patent marking in the country or countries of manufacture, use, import or sale thereof. 

15.7 Notices. All notices, requests and other communications hereunder shall be in writing and shall be personally delivered, by
registered or certified mail, return receipt requested, postage prepaid, or by a recognized overnight courier, or by facsimile with written confirmation by one of the other methods set forth above, in each case to the respective address specified
below, or such other address as may be specified in writing to the other Party hereto and shall be deemed to have been given upon receipt: 
  

			
	 Acumen:
	  	Acumen Pharmaceuticals, Inc.
		  	385 Oyster Point Blvd., Suite 9A
		  	South San Francisco, CA 94080
		  	Attn: Chief Executive Officer
		  	Fax: (415) 777-4363
		
	 With a copy to:
	  	Cooley Godward, LLP
		  	5 Palo Alto Square
		  	3000 El Camino Real
		  	Palo Alto, CA 94306
		  	Attn: Robert L. Jones, Esq.
		  	Fax: (650) 849-7400
		
	 Merck:
	  	[***]
		  	[***]
		  	
	 With a copy to:
	  	[***]
		  	[***]

 15.8 Severability. In the event that any provision of this Agreement becomes or is declared by a
court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect to the fullest extent permitted by law without said provision, and the Parties shall amend the Agreement to the extent
feasible to lawfully include the substance of the excluded term to as fully as possible realize the intent of the Parties and their commercial 

  
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bargain. If a Party seeks to avoid a provision of this Agreement by asserting that such provision is invalid, illegal or otherwise unenforceable, the other Party shall have the right to terminate
this Agreement upon sixty (60) days’ prior written notice to the asserting Party, unless such assertion is eliminated and cured within such sixty (60) day period. If Merck has sought to so avoid a provision of this Agreement, such
termination shall be deemed a termination by Acumen for breach by Merck under Section 13.2 above, and if Acumen has sought such an avoidance, such termination shall be deemed a termination by Merck for breach by Acumen under Section 13.2
above, in each case not subject to mediation as described therein or in Section 14.3. 
 15.9 Advice of Counsel. Acumen
and Merck have each consulted counsel of their choice regarding this Agreement, and each acknowledges and agrees that this Agreement shall not be deemed to have been drafted by one Party or another and will be construed accordingly. 

15.10 Performance Warranty. Each Party hereby warrants and guarantees the performance of any and all rights and obligations of
this Agreement by its Affiliates and Sublicensees. 
 15.11 Force Majeure. Neither Party shall lose any rights hereunder or be
liable to the other Party for damages or losses (except for payment obligations) on account of failure of performance by the defaulting Party if the failure is occasioned by war, strike, fire, Act of God, earthquake, flood, lockout, embargo,
governmental acts or orders or restrictions, failure of suppliers, or any other reason where failure to perform is beyond the reasonable control and not caused by the negligence, intentional conduct or misconduct of the non-performing Party and such Party has exerted all reasonable efforts to avoid or remedy such force majeure; provided, however, that in no event shall a Party be required to settle any labor dispute
or disturbance. 
 15.12 Complete Agreement. This Agreement with its Exhibits, constitutes the entire agreement, both written
and oral, between the Parties with respect to the subject matter hereof, and all prior and contemporaneous agreements respecting the subject matter hereof, either written or oral, express or implied, shall be abrogated, canceled, and are null and
void and of no effect. Any confidential disclosures made prior to the Effective Date pursuant to a non-disclosure agreement shall be deemed to be Confidential Information disclosed pursuant to the
confidentiality and non-use provisions of this Agreement. No amendment or change hereof or addition hereto shall be effective or binding on either of the Parties hereto unless reduced to writing and executed
by the respective duly authorized representatives of Acumen and Merck. 
 15.13 Headings. The captions to the several Sections
hereof are not a part of this Agreement, but are included merely for convenience of reference and shall not affect its meaning or interpretation. 

15.14 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of
which together shall be deemed to be one and the same agreement. 
 15.15 Bankruptcy. All rights and licenses granted under or
pursuant to this Agreement by each Party as a licensor are, and shall otherwise be deemed to be, for purposes of Section 365(n) of Title 11, U.S. Code (the “Bankruptcy Code”), licenses of rights to “intellectual
property” as 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 
defined under section 101(35A) of the Bankruptcy Code. The Parties agree that each licensee of such rights under this Agreement, shall retain and may fully exercise all rights and elections it
would have in the case of a licensor bankruptcy under the Bankruptcy Code. Each Party agrees during the term of this Agreement to create or maintain current copies, or if not amenable to copying, detailed descriptions or other appropriate
embodiments, of all such intellectual property licensed to the other Party. 
 [Remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed by
their authorized representatives and delivered in duplicate originals as of the Effective Date. 
  

									
	MERCK & CO., INC.	 		 	ACUMEN PHARMACEUTICALS, INC.
					
	By:	 	          
	 		 	By:	 	          

					
	Name:	 	  
	 		 	Name:	 	              

					
	Title:	 	          
	 		 	Title:	 	              

  
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 Exhibit 1.3 

ACUMEN PATENT RIGHTS 
  

							
	 Patent Application No.

Patent No.
	  	 Filing Date
	  	 Country
	  	 Title

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

  
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 Exhibit 1.7 

[***] 
 [***] 

[***] 
 [***] 

[***] 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 Exhibit 1.40 

NORTHWESTERN LICENSE 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 Exhibit 1.57 

USC LICENSE 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 EXHIBIT 3.2 

RESEARCH PLAN OUTLINE 

[***] 
 [***]

	1)	 [***] 

	2)	 [***] 

	3)	 [***] 

	4)	 [***] 

	5)	 [***] 

	6)	 [***] 

	7)	 [***] 

	8)	 [***] 

[***] 

	1)	 [***] 

	2)	 [***] 

	3)	 [***] 

	4)	 [***] 

	5)	 [***] 

[***] 
 [***] 

	1)	 [***] 

	2)	 [***] 

[***] 

	1)	 [***] 

	2)	 [***] 

	3)	 [***] 

	4)	 [***] 

	5)	 [***] 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 EXHIBIT 3.3 

MERCK RESEARCH DATA PACKAGE 
 [***]

 [***] 
 [***] 

[***] 
 [***] 

[***] 
 [***] 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 Exhibit 10.3 

PRESS RELEASE 

Acumen and Merck enter into Alzheimer’s Collaboration 

Acumen Pharmaceuticals announced today it has entered into a research collaboration and license agreement with Merck & Co., Inc.
(NYSE: MRK) to research and develop disease-modifying therapeutic drugs for Alzheimer’s disease and other memory related disorders. Merck has acquired the worldwide exclusive rights to Acumen’s ADDL technology for monoclonal antibodies and
vaccines. 
 Under the terms of the agreement, Acumen will receive an upfront payment and annual research funding, and will be eligible to
receive $48 million in research, development and approval milestones for the first antibody product that is commercialized. Acumen will also be eligible to receive equivalent milestone payments for the research, development and approval of
vaccine products. Merck will fund research and development and will have exclusive responsibility for commercializing collaboration products. Merck will pay to Acumen royalties on the sale of products from the collaboration and milestones payments
for the attainment of certain sales levels. 
 ADDLs (amyloid-derived diffusible ligands) are soluble oligomeric assemblies of amyloid beta 1-42 protein. They are increasingly implicated as the molecular structures that cause Alzheimer’s disease and trigger early memory-related disorders. ADDLs are a validated target, and antibodies targeting ADDLs
have prevented and even reversed memory deficits in animal models. Acumen’s founders at Northwestern University and the University of Southern California discovered ADDLs, and they have worked for the past seven years to elucidate the ADDL
mechanism and the direct involvement of ADDLs in Alzheimer’s disease. 
 “This is a significant day in the battle against
Alzheimer’s,” said David Summa, President & CEO of Acumen. “It marks the shift from research on ADDLs and how they operate in Alzheimer’s disease, to the development of effective therapeutic and preventative drugs. This
collaboration will target the development and commercialization of drugs that stop and prevent Alzheimer’s disease, and even reverse lost memory function, extending far beyond today’s drugs that only provide modest symptomatic
relief,” he added. 
 “Acumen is extraordinarily pleased to partner with the scientific team at Merck. They are the hallmark of
scientific excellence in pharmaceutical R & D, and we have come to know Merck as a highly professional organization. They respect their partners and they know how to create a win for patients, a win for their shareholders and a win for
their partners,” said Dr. Grant Krafft, Chairman and Chief Science Officer of Acumen, and company co-founder. 

  
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IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
  

 “Merck recognizes Acumen’s leadership in the field of ADDL research, and we are
pleased to enter into this collaboration to discover and develop breakthrough medicines for what is a significant unmet medical need, said Mervyn Turner, Ph.D., Senior Vice President Worldwide Licensing and External Research for Merck.” 

About Acumen 
 Acumen
Pharmaceuticals Inc. www.acumenpharm.com is a privately held, pre-clinical biotech company with operations in San Francisco and Chicago. The company is focused on developing the first
effective therapeutics and diagnostics for Alzheimer’s disease and other memory-related disorders. Founded in 1996, Acumen owns or has licensed the critical patents underlying the ADDL mechanism now widely believed to cause Alzheimer’s
disease. In addition to an ELISA-based diagnostic, Acumen has several therapeutic approaches to stop ADDL-related diseases. 
 Acumen
Contact: 
 David W. Summa 

Chief Executive Officer 
 Tel: 415-281-1392 
 info@acumenpharm.com 

  
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