Document:

Exhibit 10.2

 

Form

 

VOTING AGREEMENT

 

THIS VOTING AGREEMENT
(this “Agreement”) is made and entered into as of December 19, 2019 by and between Telaria, Inc., a Delaware
corporation (“Telaria”), and the undersigned stockholder (the “Stockholder”) of The Rubicon
Project, Inc., a Delaware corporation (“Rubicon Project”). Capitalized terms that are used but not defined herein
shall have the respective meanings ascribed thereto in the Merger Agreement (as defined below).

 

RECITALS

 

WHEREAS, as an inducement
for Telaria to enter into that certain Agreement and Plan of Merger, dated as of the date hereof, by and among Telaria, Rubicon
Project and Madison Merger Corp., a Delaware corporation and wholly owned subsidiary of Rubicon Project (“Merger Sub”)
(as it may be amended from time to time by the parties thereto, the “Merger Agreement”), which provides for,
among other things (a) the merger of Merger Sub with and into Telaria in accordance with its terms (the “Merger”),
and (b) the issuance of shares of Rubicon Project Common Stock in connection with the Merger, Telaria has requested that the Stockholder
execute and deliver this Agreement;

 

WHEREAS, pursuant to
the Merger, each share of Telaria Common Stock (other than certain shares specified in the Merger Agreement) that is outstanding
immediately prior to the Effective Time will be canceled and extinguished and automatically converted into the right to receive
the consideration set forth in the Merger Agreement, all upon the terms and subject to the conditions set forth in the Merger Agreement;

 

WHEREAS, as of the
date hereof, the Stockholder is the beneficial owner (as defined in Rule 13d-3 promulgated under the Exchange Act) of shares of
Rubicon Project Common Stock and other securities convertible into, or exercisable or exchangeable for, shares of Rubicon Project
Common Stock (collectively, the “Shares”); and

 

WHEREAS, as a condition
and inducement for Telaria to enter into the Merger Agreement, the Stockholder and Telaria are entering into this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby,
the parties hereto hereby agree as follows:

 

1.            Agreement to Vote.

 

(a)               From
the date hereof until the Expiration Date (as defined below), the Stockholder shall (x) appear at (or otherwise cause all
Shares beneficially owned by the Stockholder and all New Shares (as defined below) to be counted as present for purposes
of calculating a quorum) any stockholder meeting of Rubicon Project and (y) vote all Shares beneficially owned by the
Stockholder and any New Shares, to the extent (in the case of securities convertible into, or exercisable or exchangeable
for, shares of Rubicon Project Common Stock) any such Shares or New Shares are capable of being voted, at every stockholder
meeting of Rubicon Project, however called, and at every postponement or adjournment thereof, and on every action proposed to
be approved by the written consent of the holders of outstanding shares of Rubicon Project Common Stock with respect to any
of the following:

 

    	 	 

	 

     

    

 

(i)              in favor of the approval of the Rubicon Project Share Issuance, and any proposal to adjourn or postpone any meeting of the
stockholders of Rubicon Project at which the Rubicon Project Share Issuance is submitted for the consideration and vote of the
stockholders of Rubicon Project to a later date if there are not proxies representing a sufficient number of shares of Rubicon
Project Common Stock to approve such matters on the date on which the meeting is held;

 

(ii)             against any Rubicon Project Alternative Transaction proposed by any Rubicon Project Third Party; and

 

(iii)           
against any other action, agreement or transaction involving Rubicon Project or any of its Subsidiaries that is intended,
or would reasonably be expected, to impede, interfere with, delay, postpone, adversely affect or prevent the consummation of the
Merger, the Rubicon Project Share Issuance or the other transactions contemplated by the Merger Agreement.

 

(b)         Prior to the Expiration Date, the Stockholder shall not enter into any agreement or understanding with any Person to vote
or give instructions in any manner inconsistent with this Section 2.

 

(c)         Notwithstanding anything to the contrary set forth herein, if the Stockholder is serving on the Rubicon Project Board of
Directors, then nothing in this Agreement shall prohibit or otherwise impair the right or ability of the Stockholder to exercise
his or her fiduciary duties in his or her capacity as a director or officer of Rubicon Project, including by voting in his or her
capacity as a director to effect a Rubicon Project Recommendation Change, in each case, in accordance with the terms of the Merger
Agreement. However, for the avoidance of doubt, a Rubicon Project Recommendation Change shall not relieve the Stockholder of any
obligation hereunder with respect to the Shares beneficially owned by the Stockholder or any New Shares.

 

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2.            Transfer
and Encumbrance. The Stockholder agrees, during
the period beginning on the date hereof and ending on the Expiration Date, not to, directly or indirectly, (x) sell, transfer,
exchange, pledge or otherwise dispose of or encumber, whether voluntarily, involuntarily, by operation or otherwise (collectively,
“Transfer”), any Shares beneficially owned by the Stockholder or any New Shares, (y) tender into any tender
or exchange offer any Shares or New Shares, whether voluntarily, involuntarily, by operation or otherwise or (z) enter into any
contract, option or other arrangement or understanding with respect to the tendering, voting of or sale, transfer, assignment,
pledge, encumbrance, hypothecation or similar disposition of (including by merger, by tendering into any tender or exchange offer,
by testamentary disposition, by operation of law or otherwise) any Shares beneficially owned by the Stockholder or New Shares,
in the case of (x), (y) and (z), without the prior written consent of the Board of Directors of Rubicon Project; provided
that nothing contained herein shall prohibit (a) the net settlement of the Stockholder’s options to purchase
shares of Rubicon Project Common Stock (to pay the exercise price thereof and any tax withholding obligations), (b) the net settlement
of the Stockholder’s restricted stock units (including performance-based restricted stock units, if applicable) settled
in shares of Rubicon Project Common Stock (to pay any tax withholding obligations), (c) the exercise of the Stockholder’s
options to purchase shares of Rubicon Project Common Stock, to the extent such options would expire prior to the Effective Time,
(d) the sale of a sufficient number of shares of Rubicon Project Common Stock acquired upon exercise of the Stockholder’s
options pursuant to the foregoing clause (c) or upon the settlement of the Stockholder’s restricted stock units, in each
case as would generate sales proceeds sufficient to pay the aggregate applicable exercise price of shares then exercised under
such options and the taxes payable by the Stockholder as a result of such exercise or settlement, (e) the Stockholder from selling
Shares under any written plan in effect on the date hereof providing for the trading of Shares in accordance with Rule 10b5-1
under the Exchange Act that has been disclosed to Telaria prior to the date hereof, (f) any Transfer where the Stockholder
retains sole direct and indirect voting control over such Shares or New Shares through the term of this Agreement, (g) any Transfer
to an Affiliate of the Stockholder, or (h) if the Stockholder is an individual, (i) to any member of the Stockholder’s
immediate family or to a trust for the benefit of the Stockholder or any member of the Stockholder’s immediate family or
(ii) to any person or entity if and to the extent required by any non-consensual legal order, by divorce decree
or by will, intestacy or other similar law; provided, however, that in the case of the foregoing clauses (g)
or (h)(i), any such Transfer shall only be permitted if and to the extent that the transferee of such Shares or New Shares
agrees to be bound by and subject to the terms and provisions hereof to the same effect as the Stockholder. The Stockholder acknowledges
that the intent of the foregoing sentence is to ensure that the Shares and any New Shares are voted (or consented) by the Stockholder
in accordance with the terms hereof.

 

3.            No
Participation in Litigation. The Stockholder hereby
agrees not to commence or participate in, and use reasonable best efforts to, if requested by Telaria, take all actions necessary
to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Telaria, Rubicon Project,
Merger Sub, or any of their respective successors relating to the negotiation, execution or delivery of this Agreement or the
Merger Agreement or the consummation of the Merger or the Rubicon Project Share Issuance, including any claim (a) challenging
the validity, or seeking to enjoin the operation, of any provision of this Agreement or the Merger Agreement or (b) alleging a
breach of any fiduciary duty of the Rubicon Project Board of Directors in connection with the Merger Agreement or the transactions
contemplated thereby; provided, however, that the foregoing shall not restrict the Stockholder from enforcing any
of his, her or its rights under the Merger Agreement or this Agreement.

 

4.            New
Shares. The Stockholder agrees that any shares of Rubicon Project Common Stock that the Stockholder purchases or with respect
to which the Stockholder otherwise acquires beneficial ownership after the date of this Agreement and prior to the Expiration
Date, including shares issued or issuable upon the conversion, exercise or exchange, as the case may be, of all securities held
by the Stockholder that are convertible into, or exercisable or exchangeable for, shares of Rubicon Project Common Stock (“New
Shares”), shall be subject to the terms and conditions of this Agreement to the same extent as if they constituted Shares.

 

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5.            No
Obligation to Exercise Options or Other Securities.
Nothing contained in this Agreement shall require the Stockholder to (i) convert, exercise or exchange any option, warrants or
convertible securities in order to obtain any underlying shares of Rubicon Project Common Stock or (ii) vote, or execute any consent
with respect to, any shares of Rubicon Project Common Stock underlying such options, warrants or convertible securities that have
not yet been issued as of the applicable record date for that vote or consent.

 

6.            Representations
and Warranties of the Stockholder. The Stockholder hereby represents, warrants and covenants to Telaria as follows:

 

(a)          If the Stockholder is not an individual:

 

(i)                
 the execution, delivery and performance by the Stockholder of this Agreement and the consummation by the Stockholder of
the transactions contemplated hereby are within the powers of the Stockholder and have been duly authorized by all necessary action.
The Stockholder has duly executed and delivered this Agreement and, assuming the due authorization, execution and delivery by Telaria,
this Agreement constitutes the Stockholder’s legal, valid and binding obligation, enforceable against it in accordance with
its terms except, in each case, as enforcement may be limited by the Enforceability Exceptions.

 

(b)          If the Stockholder is an individual:

 

(i)                
he or she has full legal capacity, right and authority to execute and deliver this Agreement and to perform his or her obligations
hereunder. If the Stockholder is married and any of the Shares or New Shares constitute community property or spousal approval
is otherwise necessary for this Agreement to be legal, valid, binding and enforceable, this Agreement has been duly executed and
delivered by, and, assuming the due authorization, execution and delivery by Telaria, constitutes the legal, valid and binding
obligation of, the Stockholder’s spouse, enforceable in accordance with its terms except, in each case, as enforcement may
be limited by the Enforceability Exceptions.

 

(c)          Unless any Shares or New Shares are Transferred in accordance with Section 2, the Shares are and the New Shares will be
beneficially owned (as defined in Rule 13d-3 promulgated under the Exchange Act) and owned of record by the Stockholder. Unless
any Shares or New Shares are Transferred in accordance with Section 2, the Stockholder has and will have good and valid title to
such Shares and New Shares, free and clear of any encumbrances other than pursuant to this Agreement. As of the date hereof, the
Stockholder’s Shares constitute all of the shares of Rubicon Project Common Stock beneficially owned or owned of record by
the Stockholder. Except as provided for herein, the Stockholder has sole voting power (including the right to control such vote
as contemplated herein), sole power of disposition (except with respect to Shares underlying restricted stock awards issued to
directors of Rubicon Project), sole power to issue instructions with respect to the matters set forth in herein, and sole power
to agree to all of the matters set forth in this Agreement, in each case with respect to all of the Stockholder’s Shares
and New Shares.

 

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(d)          The
execution and delivery of this Agreement by the Stockholder do not, and the performance by the Stockholder of his, her or
its obligations under this Agreement will not, (i) if the Stockholder is not an individual, violate the certificate of
formation, agreement of limited partnership, certificate of incorporation or similar organizational documents of the
Stockholder, (ii) conflict with or violate any law, ordinance or regulation of any Governmental Entity applicable to the
Stockholder or by which any of its assets or properties is bound, or (iii) conflict with, result in any breach of or
constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others
any rights of termination, amendment, acceleration or cancellation of, or result in the creation of any encumbrance on the
properties or assets of the Stockholder pursuant to, any note, bond, mortgage, indenture, contract (whether written or oral),
agreement, lease, license, permit, franchise or other instrument or obligation to which the Stockholder is a party or by
which the Stockholder or any of its assets or properties is bound, except for any of the foregoing as would not reasonably be
expected, individually and in the aggregate, to impair the ability of the Stockholder to perform his, her or its obligations
hereunder or to consummate the transactions contemplated hereby on a timely basis.

 

(e)          The execution and delivery of this Agreement by the Stockholder do not, and the performance by the Stockholder of his, her
or its obligations under this Agreement and the consummation by it of the transactions contemplated hereby will not, require the
Stockholder to obtain any consent, approval, authorization or permit of, or to make any filing with or notification to, any Governmental
Entity, other than the filings of any reports with the SEC.

 

(f)           As of the date hereof, there is no Action pending, or, to the knowledge of the Stockholder, threatened against or affecting
the Stockholder or any of the Stockholder’s Affiliates before or by any Governmental Entity that would reasonably be expected
to impair the ability of the Stockholder to perform his, her or its obligations hereunder or to consummate the transactions contemplated
hereby on a timely basis.

 

(g)          No investment banker, broker, finder or other intermediary is entitled to a fee or commission from Telaria or Rubicon Project
in respect of this Agreement based upon any arrangement or agreement made by or on behalf of the Stockholder (other than those
made by the Stockholder on behalf of Rubicon Project in the exercise of his or her duties as an officer or director of Rubicon
Project).

 

(h)          The Stockholder understands and acknowledges that Telaria is entering into the Merger Agreement in reliance upon the execution
and delivery of this Agreement by the Stockholder and the representations, warranties and covenants of the Stockholder contained
herein. The Stockholder understands and acknowledges that the Merger Agreement governs the terms of the Merger and the other transactions
contemplated thereby.

 

7.            Additional Documents. The Stockholder hereby covenants and agrees to execute and deliver any additional documents
reasonably necessary or desirable to carry out the purpose and intent of this Agreement and the Merger Agreement.

 

8.            Termination.
This Agreement shall terminate and shall have no further force or effect as of the earlier to occur of (i) the Effective
Date and (ii) the date the Merger Agreement shall have been validly terminated pursuant to Article VIII thereof (the
“Expiration Date”); provided, however, that notwithstanding the foregoing, the
provisions in Section 9 hereof shall survive in full force and effect following the consummation of the Merger.

 

9.            Miscellaneous.

 

(a)          Notices.
All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be deemed given
if delivered personally or delivered by electronic mail or sent by nationally-recognized overnight courier (providing proof of
delivery) to the parties hereto at the following addresses (or at such other address for a party hereto as shall be specified
by like notice):

 

		(i)	if to Telaria, to:

 

	Telaria, Inc.
	222 Broadway, 16th Floor
	New York, NY 10038
	Attention: Aaron Saltz
	Email:	asaltz@telaria.com

 

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

 

	Cooley LLP
	500 Boylston Street, 14th Floor
	Boston, Massachusetts 02116-3736
	Attention:	 Miguel J. Vega
	 	Peyton Worley
	 	Ian Nussbaum

 

	Email:	mvega@cooley.com
	 	pworley@cooley.com
	 	inussbaum@colley.com

  

		(ii)	If to the Stockholder,
to the address set forth on the signature page hereto.

 

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(b)          Certain
Interpretations. When a reference is made in this Agreement to an Article or Section, such reference shall be to an
Article or Section of this Agreement, unless otherwise indicated. Whenever the words “include,”
“includes” or “including” are used in this Agreement, they shall be deemed to be followed by the
words “without limitation.” The words “hereof,” “hereto,” “hereby,”
“herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this
Agreement as a whole and not to any particular provision of this Agreement. The term “or” is not exclusive. The
word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing
extends, and such phrase shall not mean simply “if.” All terms defined in this Agreement shall have the defined
meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined, or except
as otherwise expressly provided, therein. Words in this Agreement describing the singular number shall be deemed to include
the plural and vice versa, and words in this Agreement denoting any gender shall be deemed to include all genders. Any
statute defined or referred to herein or in any agreement or instrument that is referred to herein shall mean such statute as
from time to time amended, unless otherwise specifically indicated. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

 

(c)              
Entire Agreement. This Agreement and the documents and instruments and other agreements among the parties hereto
referenced herein: (i) constitute the entire agreement among the parties with respect to the subject matter hereof and supersede
all prior agreements, understandings, representations and conditions, both written and oral, among the parties hereto with respect
to the subject matter hereof, and (ii) are not intended to confer upon any other Person any rights or remedies hereunder.

 

(d)              
Assignment. This Agreement shall not be assigned by operation of law or otherwise, except that Telaria may assign
the rights and delegate his, her or its obligations hereunder to any of its Affiliates; provided that any such assignment
will not relieve Telaria of its obligation under this Agreement. Any assignment in contravention of the preceding sentence is null
and void.

 

(e)              
Amendments and Modification; Waiver. This Agreement may not be modified, amended, altered or supplemented except
by the execution and delivery of a written agreement executed by the parties hereto. No waiver by any party hereto of any condition
or of any breach of any provision of this Agreement shall be effective unless in writing.

 

(f)               
Severability. In the event that any provision of this Agreement or the application thereof becomes or is declared
by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced, all other conditions and provisions
of this Agreement will nevertheless remain in full force and effect so long as the legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any party or such party waives its rights under this Section 9(f).
Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall
negotiate in good faith to modify this Agreement to as to effect the original intent of the parties as closely as possible to the
fullest extent permitted by Applicable Law in an acceptable manner to the end that the transactions contemplated hereby are fulfilled
to the extent possible.

 

(g)              
Specific Performance and Other Remedies. The parties acknowledge and agree that irreparable damage would occur in
the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise
breached, and that monetary damages, even if available, would not be an adequate remedy therefor. It is accordingly agreed that
the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically
the terms and provisions hereof in any court of the United States of America or any state having jurisdiction, without proof of
actual damages (and each party hereby waives any requirement for the securing or posting of any bond in connection with such remedy),
this being in addition to any other remedy to which they are entitled at law or in equity. Any and all remedies herein expressly
conferred upon a party hereto will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law
or equity upon such party, and the exercise by a party hereto of any one remedy will not preclude the exercise of any other remedy.

 

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(h)              
Fees and Expenses. Except as otherwise provided in the Merger Agreement, all costs and expenses incurred in connection
with this Agreement and the transactions contemplated hereby shall be borne by the party incurring such expenses. If any action
or other proceeding relating to the enforcement of any provision of this Agreement is brought by any party hereto, the prevailing
party shall be entitled to recover reasonable attorneys’ fees, costs and disbursements from the opposing party or parties
in such action or other preceding (in addition to any other relief to which the prevailing party may be entitled).

 

(i)                
GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE,
REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER ANY APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS THEREOF. EACH PARTY HERETO
HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES TO BE SUBJECT TO, AND HEREBY CONSENTS AND SUBMITS TO, THE JURISDICTION OF THE COURTS
OF THE STATE OF DELAWARE AND AGREES THAT ANY ACTION INVOLVING ANY EQUITABLE OR OTHER CLAIM SHALL BE BROUGHT EXCLUSIVELY IN THE
DELAWARE COURT OF CHANCERY. IN THE EVENT THAT THE DELAWARE COURT OF CHANCERY DOES NOT ACCEPT OR DOES NOT HAVE JURISDICTION OVER
ANY SUCH ACTION, EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ANY SUCH ACTION THEN SHALL BE BROUGHT EXCLUSIVELY
IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE.

 

(j)                
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT,
TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF ANY PARTY HERETO IN NEGOTIATION, ADMINISTRATION,
PERFORMANCE OR ENFORCEMENT HEREOF.

 

(k)              
Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and
the same agreement and shall become effective when one or more counterparts have been signed by each of the parties hereto and
delivered to the other party hereto, it being understood that all parties hereto need not sign the same counterpart.

 

The remainder of this page is intentionally
left blank.

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the date first written above.

 

	 	TELARIA, INC.
	 
	 	By:	          
	 	Name:
	 	Title:

 

Signature
Page to Voting Agreement

 

    	 	

	 

     

    

 

 

	 	STOCKHOLDER:
	 	 
	 	[Stockholder Name]
	 	 
	 	 
	 	By:	               
	 	Name:
	 	Title (if an entity):

 

	 	 
	 	Address:	      
	 	 
	 	 
	 	 
	 	 
	 	 
	 	Acknowledged and agreed to
    by:
	 	 
	 	 

	 	 
	 	Name of Stockholder’s
	 	Spouse (if any):	 

 

Signature
Page to Voting AgreementEX-10.25

 Exhibit 10.25 

Execution Version 

FIFTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

This Fifth Amended and Restated Investors’ Rights Agreement dated as of December 12, 2019 (this
“Agreement”), is made by and among: (i) Tarveda Therapeutics, Inc., a Delaware corporation (the “Company”); (ii) the holders of the Company’s Preferred Stock, $0.0001 par value per share (the
“Preferred Stock”), listed on Schedule A (collectively, the “Purchasers”); (iii) Omid Farokhzad, Robert S. Langer, Jr. and Stephen J. Lippard (each individually a “Founder” and collectively, the
“Founders”) and the persons and entities listed on Schedule B (together with the Founders and the Licensor Shareholders (as defined in Section 2, below), the “Initial Stockholders,” and each individually, an
“Initial Stockholder”); and (iv) any person or entity that becomes a party to this Agreement in accordance with Section 5.7 hereof. 

WHEREAS, the Company, certain of the Purchasers and the Initial Stockholders are parties to a Third Amended and Restated
Investors’ Rights Agreement dated as of January 31, 2017 (the “Former Investors’ Rights Agreement”); and 

WHEREAS, the Company desires to sell to certain of the Purchasers (the “Series 1 Investors”) shares of the
Company’s Series 1 Convertible Preferred Stock, $0.0001 par value per share (the “Series 1 Preferred”), pursuant to a Convertible Preferred Stock Purchase and Exchange Agreement dated as of the date hereof (the
“Purchase Agreement”); and 
 WHEREAS, the Series 1 Investors have made it a condition precedent to their
purchase of shares of Series 1 Preferred Stock pursuant to the Purchase Agreement that the parties enter into this Agreement which amends and restates the Former Investors’ Rights Agreement. 

NOW, THEREFORE, in consideration of these mutual promises and covenants set forth herein, the parties hereto agree to the
terms and conditions set forth below: 
 1.        Covenants of the Company. The Company
covenants and agrees that so long as (i) at least 7,250,000 shares of Preferred Stock are outstanding (subject to equitable adjustment for stock splits, stock dividends and similar events) or (ii) the Purchasers hold of record beneficially
not less than four percent (4%) of the Common Stock, it will perform and observe the following covenants and provisions: 

1.1        Financial Statements. The Company will maintain books of account in
accordance with generally accepted accounting principles applied on a consistent basis, keep full and complete financial records, and furnish the following reports to (i) each Purchaser who holds at least 1,000,000 shares of Preferred Stock,
excluding shares of Series CS Preferred Stock (as defined in the Purchase Agreement) (subject to equitable adjustment for stock splits, stock dividends and similar events) (each a “Major Stockholder”), (ii) The Brigham and
Women’s Hospital (“Brigham”) and (iii) Children’s Medical Center Corporation (“CMCC”) for so long as it holds at least 10,000 shares of Common Stock (subject to equitable adjustment for stock splits,
stock dividends and similar events): 

 (a)        as soon as practicable,
but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company, an income statement for such fiscal year (including a comparison between the actual amounts as of and for such fiscal year and the
comparable amounts for the prior year and as included in the annual operating plan for such year, with an explanation of any material differences between such amounts, which comparison shall, notwithstanding the other provisions of this clause (a),
not be audited), a balance sheet of the Company and statement of stockholders’ equity as of the end of such year, and a schedule as to the sources and applications of funds for such year, such year-end
financial reports to be in reasonable detail, prepared in accordance with generally accepted accounting principles (“GAAP”), and audited and certified by such independent public accountants of nationally recognized standing selected
by the Company and approved by the Purchasers; 
 (b)        as soon as
practicable, but in any event within forty-five (45) days after the end of the first three (3) quarters of the fiscal year of the Company, unaudited statements of income and cash flows for such fiscal quarter, and an unaudited balance
sheet 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)        promptly following written request by a Major Stockholder, but not more
often than twice in any calendar year, a detailed capitalization table of the Company, including the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock (which, to the
extent applicable, shall include the face amount, issue date, maturity date, interest rate, conversion discount, change of control premium and valuation cap) outstanding as of the date of such request, the shares of Common Stock issuable upon
conversion or exercise of any outstanding securities convertible or exercisable for Common Stock, including issued stock options and stock options reserved for issuance, if any, all in sufficient detail for such Major Stockholder to calculate its
percentage equity ownership in the Company; and 
 (d)        such other financial
information of the Company as the Purchasers may reasonably request, including certificates of the principal financial officer of the Company concerning compliance with the covenants of the Company under this Section 1. 

1.2        Operating Plan; Other Reporting. The Company will prepare and
deliver to each Major Stockholder, on or before the first day of each fiscal year, an annual operating plan (that will include a budget) prepared on a monthly basis and, promptly after preparation, any revisions to such operating plan. In addition,
the Company will promptly provide to each Major Stockholder other customary information and materials, including reports of adverse developments, management letters, communications with stockholders or directors, press releases, and registration
statements. 
 1.3        Inspection. The Company shall, upon reasonable
prior notice to the Company, permit authorized representatives of the Major Stockholders to visit and inspect any of the properties of the Company including its books of account (and to make copies thereof and take extracts therefrom), and to
discuss the affairs, finances, and accounts of the Company with its 

  
 2 

 
officers, administrative employees, and independent accountants, all at the expense of the Major Stockholders and at such reasonable times and as often as may be reasonably requested. 

1.4        Employee Agreements. The Company shall require all its employees and
consultants to enter into suitable agreements with provisions governing, among other things, the protection of confidential information, assignment of intellectual property, and competition with the Company. In addition, the Company shall not amend,
modify, terminate, waive, or otherwise alter, in whole or in part, any of the above-referenced agreements with senior executives of the Company without the consent of a majority of the Preferred Directors (as defined in the Company’s Third
Amended and Restated Certificate of Incorporation, as amended from time to time, the “Restated Certificate”). 

1.5        Board Meetings. The Company agrees to hold a meeting of its Board of
Directors at least once per quarter or otherwise as agreed by a majority of the Board of Directors including a majority of the Preferred Directors. The Company shall reimburse the non-employee 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.
At least one of the Preferred Directors shall have the right to serve as a member of any committees of the Board of Directors, whenever such committees are in existence. In addition, the Company’s Board of Directors shall establish and maintain
a Compensation Committee, at least one member of which shall be a Preferred Director. 

1.6        Observer Rights. As long as Novo Holdings A/S and its affiliates
continue to own a number of Registrable Securities (as defined in Section 3.1, below) not less than 50% of the Series C Preferred Stock. Series D Preferred Stock and Series 1 Preferred Stock held by Novo Holdings A/S as of the date of this
Agreement (subject to subsequent adjustments for stock splits, stock dividends, reverse stock splits and the like), the Company shall invite a representative of Novo Holdings A/S to attend all meetings of its Board of Directors in a nonvoting
observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other materials that it provides to its directors; provided, however, that such representative shall agree in writing to hold in
confidence and trust and to act in a fiduciary manner with respect to all information so provided; and provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion
thereof if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets or a conflict of interest. Such representative
shall be determined, and subject to change, by Novo Holdings A/S subject to reasonable approval of the Company. 

1.7        Matters Requiring Board Approval. The Company shall not, without
approval of the Board of Directors, which approval must include the affirmative vote of a majority of the Preferred Directors: 

(a)        incur any indebtedness for borrowed money, in a single or related series
of transactions, in an amount in excess of $250,000; 

  
 3 

 (b)        incur or make, in any
fiscal year, any capital expenditures in excess of $250,000 above the amount contained in the annual operating plan (referenced in Section 1.2) for such fiscal year; and 

(c)        enter into any transactions with directors, officers, employees,
consultants or 5% stockholders of the Company or their affiliates other than employment and consulting agreements in the ordinary course of business. 

1.8        Insurance. The Company shall maintain such types and levels of
insurance coverage as are reasonably appropriate for its size, industry and stage of development. The Company shall furnish evidence of such coverage to the Purchasers upon written request. Without limiting the generality of the foregoing, the
Company shall use commercially reasonable efforts to maintain, until such time as the Board of Directors determines that such insurance should be discontinued, from a financially sound and reputable insurer, Directors and Officers Errors and
Omissions insurance in an amount approved by the Board of Directors, on terms and conditions satisfactory to the Board of Directors. 

1.9        Employee Stock. Unless otherwise approved by the Board of Directors,
all future employees and consultants of the Company (specifically excluding the Founders) who will purchase, or will receive options to purchase, or will receive awards of shares of the Company’s capital stock, shall be required to execute
restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (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 180 day lockup period in connection with the IPO substantially similar to that in Subsection 3.12. With regards to such awards, the Company shall retain a
“right of first refusal” on employee transfers until the Company’s initial public offering and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock. 

1.10        Critical Technology Matters. 

(a)        Without the prior approval of the Company’s Board of Directors, the
Company shall not engage in any activities that would reasonably be considered to constitute the design, fabrication, development, testing, production or manufacture of critical technologies within the meaning of the Defense Production Act of 1950,
as amended (the “DPA”). To the extent that any pre-existing products or services provided by the Company are re-categorized by the U.S. government as
critical technologies within the meaning of the DPA, or would reasonably be considered to constitute the design, fabrication, development, testing, production or manufacture of critical technologies after a
re-categorization of selected technologies by the U.S. government, the Company shall provide notice to all foreign stockholders of the change in the status of its products or services promptly following the
earlier to occur of (i) such time as the Company’s officers have actual knowledge of such re-categorization affecting the Company’s activities and (ii) a request by any stockholder to make
a determination with respect to a re-categorization. In the event such a re-categorization occurs and unless otherwise approved by the Company’s Board of Directors,
the Company shall use commercially reasonable efforts to minimize its engagement in any re-categorized activities that would reasonably be considered to 

  
 4 

 
constitute the design, fabrication, development, testing, production or manufacture of critical technologies within the meaning of the DPA. 

(b)        If and only if (i) Committee on Foreign Investment in the United
States (“CFIUS”) requests or requires that any Purchaser (as defined in the Purchase Agreement) or the Company file a notice or declaration with CFIUS pursuant to the DPA with respect to the transactions contemplated by the Purchase
Agreement (the “Covered Transactions”) or (ii) any Purchaser that is a “foreign person” within the meaning of Section 721 of the DPA, and all rules and regulations thereunder determines that a filing with CFIUS
with respect to the Covered Transactions is required by or advisable in order to comply with applicable law, then in either case, (i) or (ii): (x) the Company and such Purchaser shall, and shall cause its affiliates to, cooperate in all
reasonable respects with the other parties hereto as is necessary to achieve the CFIUS Satisfied Condition and shall promptly file a CFIUS filing in the requested form in accordance with the DPA; and (y) the Company and such Purchaser shall,
and shall cause its affiliates to, use commercially reasonable efforts to obtain, as applicable, the CFIUS Satisfied Condition as defined in this Amendment, provided that agreement to any mitigation terms shall be at the reasonable discretion of the
affected party. 
 1.11        Termination of Information Rights. The
provisions of this Section 1 shall terminate at the earlier to occur of such time as the Company shall become subject to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended. 

2.        Participation Rights. 

2.1        Definitions. As used in Section 2 and Section 3 of this
Agreement, the following terms shall have the following meanings: 

(a)        “Licensor Shareholders” means: (i) Massachusetts
Institute of Technology (“M.I.T.”) and (ii) Brigham and (iii) CMCC. 

(b)        “M.I.T. License Agreement” means that certain Exclusive
Patent License Agreement by and between the Company and M.I.T. dated as of May 15, 2012. 

(c)        “New Securities” means (i) any capital stock of the
Company whether or not currently authorized, (ii) all rights, options, or warrants to purchase capital stock, and (iii) all securities of any type whatsoever that are, or may become, convertible into capital stock; provided, however, that
the term “New Securities” shall not include (1) the Preferred Stock or the shares of Common Stock issuable upon the conversion of the Preferred Stock; (2) securities issued as a result of any stock split, stock dividend, or
reclassification of Common Stock, distributable on a pro rata basis to all holders of Common Stock; (3) Exempted Securities (as defined in the Restated Certificate); and (4) subject to the prior approval of the Board of Directors,
including a majority of the Preferred Directors, securities issued solely in consideration for the acquisition or licensing of technology or in connection with a corporate partnering transaction. 

(d)        “Purchaser” includes, for the purposes of this
Section 2, (i) the general partners, officers, or other affiliates of such Purchaser, and a Purchaser may apportion its pro rata share among itself and such general partners, officers, and other affiliates in such proportions as it deems
appropriate, and (ii) the Licensor Shareholders. 

  
 5 

 2.2        Participation
Right. So long as at least 7,250,000 shares of Preferred Stock are outstanding (subject to equitable adjustment for stock splits, stock dividends and similar events), each Purchaser who holds shares of Series 1 Preferred Stock shall be entitled
to a right to purchase, on a pro rata basis, all or any part of New Securities which the Company may, from time to time, propose to sell and issue, subject to the terms and conditions set forth below. Such Purchaser’s pro rata share shall equal
a fraction of the New Securities being issued, the numerator of which is the number of shares of Common Stock issuable upon conversion of the outstanding Preferred Stock then held by such Purchaser, and the denominator of which is the total number
of shares of Common Stock then outstanding plus the number of shares of Common Stock issuable upon (i) conversion of then outstanding Preferred Stock or other convertible securities and (ii) exercise of then outstanding options, rights, or
warrants (and conversion of any resulting shares of Preferred Stock or other convertible securities). 

2.3        Exercise of Right. In the event the Company intends to issue New
Securities, it shall give each Purchaser written notice of such intention, describing the type of New Securities to be issued, the price thereof, and the general terms upon which the Company proposes to effect such issuance (the “Sale
Notice”). Each Purchaser shall have twenty (20) days from the date of any Sale Notice to agree to purchase all or part of its share of such New Securities for the price and upon the general terms and conditions specified in the Sale
Notice by giving written notice to the Company stating the quantity of New Securities to be so purchased (“Exercise Notice”); provided, however, that in the event that the transaction described in a Sale Notice involves in whole or
in part the payment of non-cash consideration, or the payment of consideration over time, the Purchasers shall have the right to elect, upon exercise of their rights set forth in this Section 2.3, to pay
to the Company in full consideration for the New Securities the present cash value of the consideration described in the Sale Notice as determined by the Board of Directors of the Company in good faith. 

2.4        Overallotment. In the event any Purchaser fails to exercise its
right to purchase its pro rata share of New Securities calculated in accordance with Section 2.2, each Purchaser who delivered an Exercise Notice for such Purchaser’s total pro rata share of New Securities (an “Overallotment
Purchaser”) shall have a right to purchase such Overallotment Purchaser’s pro rata share of the New Securities with respect to which Purchasers have failed to exercise their rights hereunder (“Remaining New
Securities”). In such case, within twenty-five (25) days after the delivery of the Sale Notice, the Company shall provide written notice (“Overallotment Notice”) to each Overallotment Purchaser, which shall state the
total amount of Remaining New Securities, and the pro rata portion of such Remaining New Securities which each Overallotment Purchaser is entitled to purchase. Each Overallotment Purchaser wishing to purchase such Remaining Securities shall amend
such Overallotment Purchaser’s Exercise Notice in writing within five (5) days from the date of delivery of the Overallotment Notice. For the purpose of this Section 2.4, an Overallotment Purchaser’s pro rata share of the
Remaining New Securities shall be calculated as provided in Section 2.2, except that the denominator of the fraction shall be the total number of shares of Common Stock issued or issuable upon conversion of shares of Preferred Stock held by all
of the Overallotment Purchasers. 
 2.5        Closing. The closing of the
purchase of New Securities by the Purchasers exercising their rights hereunder (“Participating Purchasers”) shall take place at such location, date and time as the parties shall agree but not later than the later of (a) the
fortieth (40th) day following the 

  
 6 

 
delivery of the Sale Notice or (b) the tenth (10th) day following the delivery of the Overallotment Notice. At the closing, the Company shall deliver to the Participating Purchasers
certificates representing all of the New Securities to be purchased and such other agreements executed by the Company which grant any rights or privileges to the Participating Purchasers as are being granted to the other purchasers in such issuance,
and in any event, at the request of the Participating Purchasers, a duly executed certificate reasonably satisfactory to the Participating Purchasers containing a representation and warranty that, upon issuance or transfer of such securities to the
Participating Purchasers, the Participating Purchasers will be the legal and beneficial owners of such securities with good title thereto, free and clear of all mortgages, liens, charges, security interests, adverse claims, pledges, encumbrances and
demands whatsoever, and that the Company has the absolute right to issue or transfer such securities to the Participating Purchasers without the consent or approval of any other person. At the closing, the Participating Purchasers shall deliver to
the Company payment for the New Securities and such agreements executed by the other purchasers in such issuance which include representations by such purchasers to the Company or restrict such purchaser’s rights with respect to the New
Securities, and, at the request of the Company, a duly executed certificate reasonably satisfactory to the Company containing such representations and warranties of the Participating Purchasers with respect to federal and state securities laws. The
certificates representing the equity securities may contain a legend stating that they are issued subject to the registration requirements of the Securities Act of 1933, as amended, and applicable state securities laws. 

2.6        Failure to Exercise Right. In the event the Purchasers fail to
exercise the foregoing participation right with respect to any New Securities within the periods specified by Sections 2.3 and 2.4 above, the Company may within ninety (90) days after the delivery of the Sale Notice sell any or all of such New
Securities not agreed to be purchased by the Purchasers, at a price and upon general terms no more favorable to the purchasers thereof than specified in the Sale Notice. In the event the Company has not sold such New Securities within such 90-day period, the Company shall not thereafter issue or sell any New Securities without first offering such New Securities to the Purchasers in the manner provided in Section 2.3. 

2.7        Termination of Participation Rights. The participation rights
established in this Section 2 may be waived with and only with the written consent of the Company and the Required Holders (as defined in the Restated Certificate). The provisions of this Section 2.7 shall terminate immediately prior
to, and shall not apply to, the earlier of (i) a Qualified Public Offering as defined in the Restated Certificate, and (ii) a Deemed Liquidation Event as defined in the Restated Certificate. 

3.        Registration Rights. The Company covenants and agrees as follows: 

3.1        Definitions. As used in this Section 3, the following terms
shall have the following meanings: 
 (a)        “1934 Act” shall
mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 

(b)        “Act” means the Securities Act of 1933, as amended, and
the rules and regulations promulgated thereunder. 

  
 7 

 (c)        “Form S-1” means such form under the Act as in effect on the date hereof, or any registration form under the Act subsequently adopted by the SEC which permits the registration of securities under the Act for
which no other form is authorized or prescribed. 
 (d)        “Form S-3” means such form under the Act as in effect on the date hereof or any registration form under the Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information
by reference to other documents filed by the Company with the SEC. 

(e)        “Holders” means any person or entity owning Registrable
Securities or having the rights to acquire Registrable Securities of any assignee thereof in accordance with Section 4 below. 

(f)        “Permitted Transferee” means, with respect to the
Founders, (i) any member or members of such Founder’s immediate family to whom Registrable Securities are transferred; and (ii) any trust to which Registrable Securities are transferred (1) in respect of which such Founder serves
as trustee, provided that the trust instrument governing such trust shall provide that such Founder, as trustee, shall retain sole and exclusive control over the voting and disposition of such Registrable Securities until the termination of this
Agreement or (2) for the benefit solely of any member or members of such Founder’s immediate family; provided, that no person or entity shall be a Permitted Transferee unless such transferee delivers a written notice to the Company at the
time of such transfer stating the name and address of the transferee and identifying the Registrable Securities with respect to which such rights are being assigned. 

(g)        “Preferred Holder” means (i) a Purchaser and any
persons or entities to whom the rights granted under this Section 3 are transferred by the Purchaser and (ii) their successors or assigns as permitted under Section 4 below. 

(h)        The terms “register,” “registered,” and
“registration” refer to a registration effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of effectiveness of such registration statement or
document. 
 (i)        “Registrable Securities” means
(i) the Common Stock held by the Founders and their Permitted Transferees, (ii) the Common Stock issuable or issued upon conversion of the Preferred Stock and Series CS Preferred Stock, (iii) the Common Stock issued to Brigham and
CMCC pursuant to the M.I.T. License Agreement, and (iv) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right, or other security which is issued as) a dividend or other distribution with
respect to, or in exchange for or in replacement of, the shares referenced in (i), (ii) or (iii) above, excluding in all cases, however, any Registrable Securities sold by a person in a transaction in which the rights under this Section 3
are not properly assigned. 
 (j)        “Outstanding Registrable
Securities” means the number of shares of Common Stock outstanding that are, and the number of shares of Common Stock issuable pursuant to then exercisable or convertible securities which are, Registrable Securities. 

(k)        “SEC” means the Securities and Exchange Commission. 

  
 8 

 3.2        Demand
Registration. 
 (a)        If the Company shall receive at any time after the
earlier to occur of (I) the date 180 days after the initial registration of any series or class of the Company’s securities, and (II) five years from the date hereof, a written notice from the Required Holders requesting that the
Company effect a registration statement under the Act with respect to all or a part of the Registrable Securities held by such Preferred Holders, then the Company shall: 

(i)        within ten (10) days of the receipt thereof, give written notice of
such request to all Preferred Holders; and 
 (ii)        effect as soon as
practicable, and in any event within ninety (90) days of the receipt of such request, the registration under the Act of all Registrable Securities which the Preferred Holders request to be registered, by notice to the Company within thirty
(30) days of the mailing’ of the notice sent by the Company in accordance with Section 3.2(a)(i), subject to the limitations of Section 3.2(b). 

(b)        If the Preferred Holders initiating the registration request hereunder
(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 3.2(a) and
the Company shall include such information in the written notice referred to in Section 3.2(a)(i). The underwriter 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 Preferred Holder to include Registrable Securities in such registration shall be conditioned upon such Preferred Holder’s participation in such underwriting and the inclusion of such Preferred Holder’s Registrable
Securities in the underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Preferred Holder) to the extent provided herein. All Preferred Holders proposing to distribute their securities through
such underwriting shall (together with the Company as provided in Section 3.5(e)) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting. Notwithstanding any other provision of
this Section 3.2, if the underwriter advises the Initiating Holders in writing that marketing factors require a limitation of the number of shares to be underwritten, then the Initiating Holders shall so advise all Preferred Holders of
Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares of Registrable Securities that may be included in the underwriting shall be allocated among all Preferred Holders thereof, including the
Initiating Holders, in proportion (as nearly as practicable) to the amount of Registrable Securities of the Company owned by each Preferred Holder; provided, however, that the number of shares of Registrable Securities to be included in such
underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. 

(c)        Notwithstanding the foregoing, if the Company shall furnish to Preferred
Holders requesting registration pursuant to this Section 3.2 a certificate signed by the President of the Company stating that in the good faith judgment of the Board of Directors of the Company it would be seriously detrimental to the Company
and its stockholders for a registration statement to be filed and it is therefore essential to defer the filing of such registration statement, then the Company shall have the right to defer taking action with respect to such filing for a period of
not more than one hundred twenty (120) days after receipt of the request of the Initiating Holders. 

  
 9 

 (d)        In addition, the Company
shall not be obligated to effect, or to take any action to effect, any registration pursuant to this Section 3.2 after the Company has effected two (2) registrations on Form S-1 pursuant to this
Section 3.2 and such registration statements have been declared or ordered effective and the sales of Registrable Securities under such registration statements have closed. 

(e)        No incidental right under this Section 3.2 shall be construed to
limit any registration required under Section 3.3 or Section 3.4 herein. 

3.3        “Piggy-Back” Registration. 

(a)        If (but without any obligation to do so) the Company proposes to register
(including for this purpose a registration effected by the Company for stockholders other than the Holders) any of its stock or other securities under the Act in connection with the public offering of such securities solely for cash, other than
(i) the initial registration of any series or class of the Company’s securities, (ii) a registration relating solely to the sale of securities to participants in a stock plan, (iii) a registration on any form which 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 (v) a registration on Form S-4 (or any
successor form) relating solely to a transaction pursuant to the SEC’s Rule 145, the Company shall, at such time, promptly give each Holder written notice of such registration. Upon the written request of each Holder given within twenty
(20) days after such notice by the Company provided in accordance with Section 5.5, the Company shall, subject to the provisions of Section 3.3(b), cause to be registered under the Act all of the Registrable Securities that each such
Holder has requested to be registered. 
 (b)        In connection with any
offering involving an underwriting of shares of the Company’s capital stock, the Company shall not be required under this Section 3.3 to include any of the Holders’ securities in such underwriting unless such Holders accept the terms
of the underwriting (as memorialized in an underwriting agreement in customary form), as agreed upon between the Company and the underwriters selected by it (or by other persons entitled to select the underwriters), and then only in such quantity as
the underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total amount of securities, including Registrable Securities, requested by stockholders to be included in such offering
exceeds the amount of securities to be sold (other than by the Company) that the underwriters determine in their sole discretion 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 determine in their sole discretion will not jeopardize the success of the offering; provided, however, there shall first be excluded from such registration statement
all shares of Common Stock sought to be included therein by (i) any director, consultant, officer, or employee of the Company or any subsidiary other than the Founders and their respective Permitted Transferees, and (ii) stockholders
exercising any contractual or incidental registration rights subordinate and junior to the rights of the Preferred Holders. If after such shares are excluded, the underwriters shall determine in their sole discretion that the number of securities
which remain to be included in the offering exceeds the amount of securities to be sold that the underwriters determine is compatible with the success of the offering, then the Registrable Securities to be included, if any, shall be apportioned pro
rata among the Holders providing notice of their desire to participate in the offering according to the total amount of securities entitled to 

  
 10 

 
be included therein owned by each selling Holder or in such other proportions as shall mutually be agreed to by such Holders. For purposes of the preceding sentence concerning apportionment, for
any selling Holder which is a partnership or corporation, the partners, retired partners, and stockholders of such Holder, or the estates and family members of any such partners and retired partners 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 amount of shares
carrying registration rights owned by all entities and individuals included in such “selling Holder,” as defined in this sentence. 

(c)        No incidental right under this Section 3.3 shall be construed to
limit any registration required under Section 3.2 or Section 3.4 herein. 

3.4        Form S-3 Registration. In
case the Company shall receive from a Preferred Holder or Preferred Holders a written request that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all
or a part of the Registrable Securities owned by such Preferred Holder or Preferred Holders, the Company agrees: 

(a)        to promptly give written notice of the proposed registration, and any
related qualification or compliance, to all other Holders; and 
 (b)        as
soon as practicable after receiving such a request, to effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Preferred
Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holders joining in such request as are specified in a written request given within fifteen
(15) days after receipt of such written notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration, qualification, or compliance pursuant to this Section 3.4 if (i) Form S-3 is not available for such offering by the Holders; (ii) the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable
Securities and such other securities (if any) at an aggregate price to the public of less than $1,000,000; (iii) the Company shall furnish to the Holders a certificate signed by the President of the Company stating that in the good faith judgment of
the Board of Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such Form S-3 registration to be effected at such time, in which event the Company shall have
the right to defer the filing of the Form S-3 registration statement for a period of not more than sixty (60) days after receipt of the request of the Holder or Holders under this Section 3.4,
provided, however, that the Company shall not utilize this right more than once in any eighteen month period; or (iv) the Company has effected two (2) registrations on Form S-3 (or its then
equivalent) pursuant to this Section 3.4 during such calendar year and such registrations have been declared or ordered effective and the sales of Registrable Securities under such registration statement have closed. 

(c)        Registrations effected pursuant to this Section 3.4 shall not be
counted as demands for registration or registrations effected pursuant to Sections 3.2 or 3.3, respectively. 

3.5        Obligations of the Company. Whenever required under this
Section 3 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably 

  
 11 

 
possible (but subject to providing counsel to the Holders with a reasonable opportunity to review and comment on all documents): 

(a)        Prepare and file with the SEC a registration statement with respect to
such Registrable Securities and use its best efforts to cause such registration statement to become effective, and, upon the request of the Required Holders, keep such registration statement effective for a period of up to one hundred twenty
(120) days or, if earlier, until the distribution contemplated in the Registration Statement has been completed; provided, however, that (i) such 120-day period shall be extended for a period of time
equal to the period the Holder refrains from selling any securities included in such registration at the request of an underwriter of Common Stock (or other securities) of the Company and (ii) in the case of any registration of Registrable
Securities on Form S-3 which are intended to be offered on a continuous or delayed basis, such 120-day period shall be extended, if necessary, to keep the registration
statement effective until all such Registrable Securities are sold; provided, that SEC Rule 415, or any successor rule under the Act, permits an offering on a continuous or delayed basis; and provided further that applicable rules under the Act
governing the obligation to file a post-effective amendment permit, in lieu of filing a post-effective amendment which (i) includes any prospectus required by Section 10(a)(3) of the Act or (ii) reflects facts or events representing a
material or fundamental change in the information set forth in the registration statement, the incorporation by reference of information required to be included in (i) and (ii) above to be contained in periodic reports filed pursuant to
Section 13 or 15(d) of the 1934 Act in the registration statement. 

(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 provisions of the Act with respect to the disposition of all securities covered by such registration statement in
accordance with each Holder’s intended method of disposition. 

(c)        Furnish to the Holders such numbers of copies of a prospectus, including a
preliminary prospectus, in conformity with the requirements of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by the Holders. 

(d)        Use its best 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 Holders and any managing underwriter; provided, that the Company shall not be required in connection therewith or
as a condition thereto 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 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 managing underwriter of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an
agreement. 

  
 12 

 (f)        Promptly notify each
Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Act as a result of the happening of any event as a result of which the prospectus included
in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the
circumstances then existing. 
 (g)        Cause all such Registrable Securities
registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company are then listed. 

(h)        Provide a transfer agent and registrar for all Registrable Securities
registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 

(i)        Furnish, at the request of any Holder requesting registration of
Registrable Securities pursuant to this Section 3, on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Section 3, if such securities are being sold
through underwriters, copies of (i) the opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration given to the underwriters in such underwritten public offering, which opinion shall be in such
form as is reasonably satisfactory to counsel to the underwriters, and (ii) the letter dated as of such date, from the independent certified public accountants of the Company, to the underwriters in such underwritten public offering, addressed
to the underwriters, which letter shall be in such form as is reasonably satisfactory to counsel to the underwriters. 

3.6        Furnish Information. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to this Section 3 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 shall be required to effect the registration of such Holder’s Registrable Securities. 

3.7        Expenses of Demand and S-3
Registrations. The Company shall pay all expenses other than underwriting discounts and commissions incurred in connection with registrations, filings, or qualifications pursuant to Sections 3.2 and 3.4, including (a) all registration,
filing, and qualification fees (including filing fees with the SEC, fees due to the National Association of Securities Dealers and fees due for listing on any stock exchange or for qualifying for quotation on Nasdaq); (b) printers and accounting
fees; (c) fees and disbursements of counsel for the Company; and (d) the reasonable fees and disbursements of one counsel for the selling Holders; provided, however, that the Company shall not be required to pay for any expenses of any
registration proceeding begun pursuant to Section 3.2 or 3.4 if the registration request is subsequently withdrawn at the request of the Required Holders to be registered (in which case all Preferred Holders participating in the aborted
registration shall bear such expenses), unless the Required Holders agree to forfeit their rights to a registration under Section 3.2; provided further, however, that if at the time of such withdrawal, the Preferred Holders have either
(i) learned of a material adverse change in the condition, business, or prospects of the Company from that known to the Preferred Holders at the time of their request or (ii) been informed by the underwriters of

  
 13 

 
such registration that more than 20% of the Registrable Securities requested for registration shall not be includable therein due to market factors, and in either such case the Preferred Holders
have withdrawn the request with reasonable promptness following such disclosure, then the Preferred Holders shall not be required to pay such expenses and shall retain their rights pursuant to Sections 3.2 and 3.4. 

3.8        Expenses of “Piggy-Back” Registration. The Company shall
pay all expenses incurred in connection with any registration, filing, or qualification of Registrable Securities with respect to the registrations pursuant to Section 3.3 for each Holder, including all registration, filing, and qualification
fees, printers and accounting fees relating or apportionable thereto, and the fees and disbursements of one counsel for the selling Holders selected by them, but excluding underwriting discounts and commissions relating to the Registrable
Securities. 
 3.9        Delay of Registration. No Holder shall have any
right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 3. 

3.10        Indemnification. In the event any Registrable Securities are
included in a registration statement under this Section 3: 
 (a)        To
the extent permitted by law, the Company will indemnify and hold harmless each Holder, any underwriter (as defined in the Act) for such Holder, and each person (if any) who controls such Holder or underwriter within the meaning of the Act or the
1934 Act, against any losses, claims, damages, or liabilities joint or several) to which they may become subject under the Act, the 1934 Act, or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in
respect thereof) arise out of or are based upon any of the following statements, omissions, or violations (collectively a “Violation”) (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the 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 Company of the Act, the 1934 Act, any state securities law, or any rule or regulation promulgated under the Act, the 1934 Act, or any
state securities law; and the Company will pay to each such Holder, underwriter, or controlling person, as incurred, any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage,
liability, or action; provided, however, that the indemnity agreement contained in this Section 3.10(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without
the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability, or action to the extent that it arises out of or is based upon a Violation
which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by any such Holder, underwriter, or controlling person. 

(b)        To the extent permitted by law, each selling Holder severally and not
jointly will indemnify and hold harmless the Company, each of its directors, each of its officers who has signed the registration statement, each person (if any) who controls the Company within the 

  
 14 

 
meaning of the Act, any underwriter, any other Holder selling securities in such registration statement, and any controlling person of any such underwriter or other Holder, against any losses,
claims, damages, or liabilities (joint or several) to which any of the foregoing persons may become subject under the Act, the 1934 Act or other federal or state law, insofar as such losses, claims, damages, or liabilities (or actions in respect
thereto) arise out of or are based upon (i) any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder expressly for use in
connection with such registration or (ii) any violation or alleged violation by such Holder of the Act, the 1934 Act, any state securities law, or any rule or regulation promulgated under the Act, the 1934 Act, or any state securities law; and
each such Holder will pay, as incurred, any legal or other expenses reasonably incurred by any person intended to be indemnified pursuant to this Section 3.10(b), in connection with investigating or defending any such loss, claim, damage,
liability, or action; provided, however, that the indemnity agreement contained in this Section 3.10(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, or action if such settlement is effected without
the consent of the such indemnifying Holder, which consent shall not be unreasonably withheld; and further provided that in no event shall any indemnity under this Section 3.10(b) exceed the gross proceeds from the offering received by such
indemnifying Holder. 
 (c)        Promptly after receipt by an indemnified party
under this Section 3.10 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 3.10,
deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party
similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties which may be represented without conflict by one counsel)
shall have the right to retain one separate counsel and participate in the defense, 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 interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable
time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 3.10, but the omission so to deliver written
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 3.10. 

(d)        If the indemnification provided for in this Section 3.10 is held by a
court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder,
shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand,
and of the indemnified party, on the other, in connection with the statements or omissions that resulted in such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and of the indemnified party shall be 

  
 15 

 
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state 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. 

(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. 

(f)     The obligations of the Company and Holders under this Section 3.10 shall survive the
completion of any offering of Registrable Securities in a registration statement under this Section 3, and otherwise. 

3.11    Reports Under Securities Exchange Act of 1934. 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 agrees to use its best efforts: 
 (a)     to
make and keep public information available, as those terms are understood and defined in SEC Rule 144, at all times from and after the ninetieth (90th) day following the effective date of the first registration statement filed by the Company for the
offering of its securities to the general public; 
 (b)     to take such action, including the
voluntary registration of its Common Stock under Section 12 of the 1934 Act, as is necessary to enable the Holders to utilize Form S-3 for the sale of their Registrable Securities, such action to be taken
as soon as practicable after the end of the fiscal year in which the first registration statement filed by the Company for the offering of its securities to the general public is declared effective; 

(c)     to file with the SEC in a timely manner all reports and other documents required of the
Company under the Act and the 1934 Act; and 
 (d)     to furnish to any Holder, so long as the
Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time on or after the ninetieth (90th) day following the effective
date of the first registration statement filed by the Company), the Act and the 1934 Act (at any time after it 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 it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information
as may be reasonably requested in availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities without registration or pursuant to such form. 

3.12    “Market Stand-Off”
Agreement. Each Holder hereby agrees that, during the period of duration (not to exceed one hundred eighty (180) days) specified by the Company and an underwriter of Common Stock or other securities of the Company, following the effective
date of a registration statement of the Company filed under the Act, such Holder shall not, to the extent 

  
 16 

 
requested by the Company and such underwriter, directly or indirectly sell, offer to sell, contract to sell (including any short sale), grant any option to purchase, or otherwise transfer or
dispose of (other than to donees who agree to be similarly bound) any securities of the Company held by it at any time during such period except Common Stock included in such registration; provided, however, that all officers, directors and
stockholders individually owning more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding Preferred Stock) enter into similar agreements reflecting the above
provisions; and provided further, that any such agreement include a provision providing for the pro rata release of any Holder’s shares in the event the underwriters or the Company releases any officer, director or 1% or greater stockholder
from the restrictions of the agreement. The foregoing restrictions of this Section 3.12 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or 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 writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a
disposition for value. 
 In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with
respect to the Registrable Securities of a Holder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

Notwithstanding the foregoing, the obligations described in this Section 3.12 shall not apply to a registration relating
solely to employee benefit plans on Form S-1 or Form S-8 or similar forms which may be promulgated in the future, or a registration relating solely to a SEC Rule 145
transaction on Form S-4 or similar forms which may be promulgated in the future. 

3.13    Termination of Registration Rights. No Holder shall be entitled to exercise any right
provided for in this Section 3 after five (5) years following the earlier of (i) the consummation of a Qualified Public Offering, or (ii) when all Registrable Securities held by such Holder (together with any Affiliate of such
Holder with whom such Holder must aggregate its sales under SEC Rule 144) could be sold without restriction under SEC Rule 144(b)(1) within a ninety (90) day period. 

4.        Transfers of Certain Rights. 

4.1      Permitted Transferees. 

(a)      The rights granted to the Purchasers under Sections 2 and 3 of this Agreement may be
transferred or succeeded to only by (i) any other Purchaser or any general or limited partner, officer, or other affiliate of any Purchaser or (ii) any other person or entity that acquires at least 50,000 shares of Preferred Stock or
Common Stock (subject to equitable adjustment for stock splits, stock dividends and similar events); provided, however, that the Company is given written notice by the transferee at the time of such transfer stating the name and address of the
transferee and identifying the securities with respect to which such rights are being assigned. 

(b)      Brigham shall be permitted to apportion its rights under this Agreement among itself
and its affiliates; provided, however, that such affiliates agree in writing to become parties to this Agreement and included in the definition of “Brigham” herein. 

  
 17 

 (c)      CMCC shall be permitted to apportion
its rights under this Agreement among itself and its affiliates; provided, however, that such affiliates agree in writing to become parties to this Agreement and included in the definition of “CMCC” herein. 

4.2     Subsequent Transfers. A transferee to whom rights are transferred pursuant to this
Section 4 may not again transfer such rights to any other person or entity, other than as provided in Section 4.1 above. 

4.3     Legends. Each certificate representing the shares of Preferred Stock shall bear a
legend indicating that any holder of the Preferred Stock shall be subject to this Agreement. 

5.         General. 

5.1     Confidentiality. Each Purchaser agrees that such Purchaser 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 Subsection 5.1 by such Purchaser), (b) is or has been independently
developed or conceived by the Purchaser without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Purchaser by a third party without a breach of any obligation of confidentiality such third
party may have to the Company; provided, however, that a Purchaser 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 Purchaser, if such prospective purchaser agrees to be bound by the provisions of this Subsection 5.1; (iii) to any existing or
prospective Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Purchaser in the ordinary course of business, provided that such Purchaser informs such person or entity that such information is confidential and directs
such person or entity to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, provided that the Purchaser promptly notifies the Company of such disclosure and takes reasonable steps to minimize the
extent of any such required disclosure. 
 5.2     Severability. The provisions of this
Agreement are severable, so that the invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other term or provision of this Agreement, which shall remain in full force and effect.

 5.3     Specific Performance. In addition to any and all other remedies that may be
available at law in the event of any breach of this Agreement, each Holder shall be entitled to specific performance of the agreements and obligations of any other Holder hereunder and to such other injunctive or other equitable relief as may be
granted by a court of competent jurisdiction. 
 5.4     Governing Law. This Agreement shall
be governed by, and construed and enforced in accordance with, the substantive laws of The Commonwealth of Massachusetts without regard to its principles of conflicts of laws. 

5.5     Notices. All notices, requests, consents, and other communications under this
Agreement shall be in writing and shall be deemed delivered (a) two business days after being sent 

  
 18 

 
by registered or certified mail, return receipt requested, postage prepaid, (b) one business day after being sent via a reputable nationwide overnight courier service guaranteeing next
business day delivery, in each case to the intended recipient as set forth below, or (c) immediately upon being sent by facsimile, provided that the sender receives electronic confirmation of delivery: 

(a)      If to the Company. 

Tarveda Therapeutics, Inc. 

134 Coolidge Avenue 

Watertown, MA 02472 

Attn: President 

with a copy to: 

Marc A. Recht 

Cooley LLP 

500 Boylston Street 

Boston, Massachusetts 02116 

Email: mrecht@cooley.com 
  

	 	(b)	 If to a Purchaser, at its address set forth in Schedule A hereto, or at such other address as may have been
furnished to the other parties hereto in writing by such Purchaser. 

  

	 	(c)	 If to an Initial Stockholder, at the address set forth in Schedule B hereto other address or addresses as
may have been furnished to the other parties hereto in writing by such Initial Stockholder. 

 Any party
may give any notice, request, consent or other communication under this Agreement using any other means (including, without limitation, personal delivery, messenger service, first class mail or electronic mail), but no such notice, request, consent
or other communication shall be deemed to have been duly given unless and until it is actually received by the party for whom it is intended. Any party may change the address to which notices, requests, consents or other communications hereunder are
to be delivered by giving the other parties notice in the manner set forth in this Section. 

5.6     Complete Agreement; Amendments. This Agreement constitutes the entire agreement and
understanding of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings relating to such subject matter, including without limitation the Former Investors’ Rights Agreement. No
amendment, modification or termination of, or waiver under, any provision of this Agreement shall be valid unless in writing and signed by (i) the Founders holding a majority of the voting power of the shares then held by all of the Founders
and (ii) the Required Holders, and any such amendment, modification, termination or waiver shall be binding on all parties hereto; provided, however, that the participation rights established in Section 2.2 may only be waived only as
provided in Section 2.7; provided, further, that Section 1.6 may not be amended without the consent of Novo Holdings A/S for so long as Novo Holdings A/S continues to have the rights described in Section 1.6.

  
 19 

 
Notwithstanding the foregoing, (i) this Agreement may not be amended or terminated and the observance of any term hereof may not be waived in a manner that adversely affects any Purchaser
without the written consent of such Purchaser, unless such amendment, termination, or waiver adversely affects the rights, privileges, duties or obligations of all Purchasers in the same manner (it being agreed that a waiver of the provisions of
Section 2.2 with respect to a particular transaction shall be deemed to apply to all Purchasers in the same manner if such waiver does so by its terms, notwithstanding the fact that certain Purchasers may nonetheless, by agreement with the
Company, purchase securities in such transaction) and (ii) Section 5.9 of the Agreement may not be amended or waived in a manner adverse to any Purchaser without the written consent of such Purchaser. 

5.7     Accession. Notwithstanding Section 5.6, any person or entity that purchases one
or more shares of convertible preferred stock of the Company shall become a party to this Agreement by executing and delivering to the Company a counterpart signature page to this Agreement, and thereupon shall be deemed a
“Purchaser” for all purposes of this Agreement. No such accession instrument shall be effective unless and until accepted in writing by the Company. No action or consent by the Purchasers or Initial Stockholders shall be required
for such joinder to this Agreement by such holder of Preferred Stock, so long as such holder has agreed in writing to be bound by all of the obligations as a “Purchaser” hereunder. 

5.8     Construction. A reference to a Section or Schedule shall mean a Section in or Schedule
to this Agreement unless otherwise expressly stated. The titles and headings herein are for reference purposes only and shall not in any manner limit the construction of this Agreement which shall be considered as a whole. The words
“include,” “includes” and “including” when used herein shall be deemed in each case to be followed by the words “without limitation.” Whenever the context may require, any pronouns
used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of names and pronouns shall include the plural and vice-versa. 

5.9     Limitation of Liability; Freedom to Operate Affiliates. The total liability, in the
aggregate, of any Purchaser and its officers, directors, employees and agents, for any and all claims, losses, costs or damages, including attorneys’ and accountants’ fees and expenses and costs of any nature whatsoever or claims or
expenses resulting from or in any way related to such Purchaser’s breach of this Agreement shall be several and not joint with the other stockholders and, other than with respect to fraud, willful misconduct or bad faith of any of the
foregoing, shall not exceed the total purchase price paid to the Company by such Purchaser for shares of Registrable Securities. Nothing in this Agreement shall restrict any Purchaser’s freedom to operate any of its affiliates. 

5.10     Counterparts; Facsimile Signatures. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same document. This Agreement may be executed by facsimile signatures. 

6.        Conflicts Waiver. Each party to this Agreement acknowledges that Cooley LLP
(“Cooley”), counsel to the Company, has in the past performed and is or may now or in the future represent the Company, or one or more other Purchasers or their affiliates in matters unrelated to the transactions contemplated by the
Purchase Agreement (the “Financing”), including 

  
 20 

 
representation of the Company, other Purchasers or their affiliates in matters of a similar nature to the Financing. The applicable rules of professional conduct require that Cooley inform the
parties hereunder of this representation and obtain their consent. Cooley has served as counsel to the Company and has negotiated the terms of the Financing solely on behalf of the Company. The Company and each Purchaser hereby (a) acknowledge
that they have had an opportunity to ask for and have obtained information relevant to such representation, including disclosure of the reasonably foreseeable adverse consequences of such representation; (b) acknowledge that with respect to the
Financing, Cooley has represented solely the Company, and not any other Purchaser or any other stockholder, director or employee of the Company or any other Purchaser; and (c) gives its informed consent to Cooley’s representation of the
Company in the Financing and certain of the Purchasers in matters unrelated to the Financing. 
 REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.

  
 21 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

	
	 TARVEDA THERAPEUTICS, INC.

	
	 /s/Drew Fromkin

	 Name: Andrew Fromkin

	 Title: President and Chief Executive Officer

  
  

 
 Signature Page to Fifth Amended and Restated Investors’ Rights
Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

			
	PURCHASER:
	
	Novo Holdings A/S
		
	By:	 	 /s/Thomas Dyrberg
	Name: Thomas Dyrberg, under specific power of attorney
	Title: Managing Partner

  
  
  

 
 Signature Page to Fifth Amended and Restated Investors’ Rights
Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

	
	PURCHASER
	
	Versant Venture Capital V, L.P.
	Versant Affiliates Fund V, L.P.
	Versant Ophthalmic Affiliates Fund I, L.P.
	By: Versant Ventures V, LLC
	Its: General Partner
	
	By: /s/Bradley J.
Bolzon                                
	Name: Bradley J. Bolzon
	Title: Managing Director

  

	
	Versant Venture Capital V (Canada) LP
	By: Versant Ventures V (Canada), L.P.
	By: Versant Ventures V GP-GP (Canada), Inc.
	Its: General Partner
	
	By: /s/Bradley J.
Bolzon                                
	Name: Bradley J. Bolzon
	Title: Director

  
  
  

Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

	
	PURCHASERS:
	
	NANODIMENSION L.P.

  

			
	By:	 	NanoDimension Management Limited,
its General Partner
		
	By:	 	/s/Jonathan Nicholson
		 	Jonathan Nicholson, Director

  

			
	NANODIMENSION II, L.P.
		
	By:	 	NanoDimension Management Limited,
its General Partner
		
	By:	 	/s/Jonathan Nicholson
		 	Jonathan Nicholson, Director

  
  

Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

	
	PURCHASER:
	
	/s/Omid Farokhzad
	Omid Farokhzad

  

			
	OCF-BLN TRUST
		
	By:	 	/s/Reza Aryanpour
		 	Reza Aryanpour, Trustee

  

			
	SAF-BLN TRUST
		
	By:	 	/s/Shadi K. Aryanpour
		 	Shadi K. Aryanpour, Trustee

  
  

			
	OCF 2014 TRUST	 	
	
	By: /s/Sean Becker                               
                   
	Name: Sean Becker	 	
	Title: Trust Advisor	 	

  

			
	SAF-BND TRUST
		
	By:	 	/s/Shadi K. Aryanpour
		 	Shadi K. Aryanpour, Trustee

  
  

Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

	
	PURCHASER:
	
	/s/Robert S. Langer, Jr.
	Robert S. Langer, Jr.

  
  

	
	/s/Mary Langer
	Mary Langer

  
  

			
	SUSAN K. LANGER 2010 TRUST
	AIMEE L. HAMILTON, TRUSTEE
		
	By:	 	/s/Aimee L. Hamilton
		 	Aimee L. Hamilton, Trustee

  

			
	MICHAEL D. LANGER 2010 TRUST
	AIMEE L. HAMILTON, TRUSTEE
		
	By:	 	/s/Aimee L. Hamilton
		 	Aimee L. Hamilton, Trustee

  

			
	 SAMUEL A. LANGER 2012 TRUST

AIMEE L. HAMILTON, TRUSTEE

		
	By:	 	/s/Aimee L. Hamilton
		 	Aimee L. Hamilton, Trustee

  
  

Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

	
	PURCHASER:
	
	/s/Stephen J. Lippard                
	Stephen Lippard

  
  

	
	THE LIPPARD IRREVOCABLE DYNASTY
	TRUST F/B/O JOSHUA J. LIPPARD
	
	By: /s/Joshua J. Lippard                               
       
	Name: Joshua J. Lippard
	Title: Trustee

  

	
	THE LIPPARD IRREVOCABLE TRUST
	
	By: /s/Joshua J. Lippard                               
       
	Name: Joshua J. Lippard
	Title: Trustee

  

	
	THE LIPPARD IRREVOCABLE DYNASTY
	TRUST F/B/O ALEXANDER C. LIPPARD
	
	By: /s/Alexander C. Lippard
	Name: Alexander C. Lippard
	Title: Trustee

  
  

Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

					
		 		  	 PURCHASER (if an entity):

			
		 	Name of Purchaser:	  	   Andrew J. Fromkin Family
Trust                            

			
		 		  	   By:   /s/Beth
Fromkin                                        
      

			
		 		  	     Name:    Beth
Fromkin                                   

		 		  	
    Title:      Trustee       
                                      

		 		  	
		 		  	
  E-mail:            
                                         
                

			
		 		  	
  Address:                  
                                         
        

		 		  	
                   
                                         
   

		 		  	
                   
                                         
   

  

					
		 		  	 PURCHASER (if an individual):

			
		 	Name of Purchaser:	  	   Andrew
Fromkin                                        
             

			
		 	Signature:	  	    /s/Drew
Fromkin                                        
            

		 		  	
		 		  	
    E-mail:          
                                         
                

			
		 		  	
    Address:                
                                         
        

		 		  	
                   
                                         
   

		 		  	
                   
                                         
   

  
  

Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

					
		 		  	 PURCHASER (if an entity):

			
		 	Name of Purchaser:	  	
                       
                                         
                  

			
		 		  	
  By:                    
                                         
              

			
		 		  	
    Name:               
                                         
     

		 		  	
    Title:              
                                         
        

		 		  	
		 		  	
  E-mail:            
                                         
                

			
		 		  	
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		 		  	 PURCHASER (if an individual):

			
		 	Name of Purchaser:	  	   Paul
Landesman                                        
               

			
		 	Signature:	  	    /s/Paul
Landesman                                        
          

		 		  	
		 		  	
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Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 N WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

					
		 		  	 PURCHASER (if an entity):

			
		 	Name of Purchaser:	  	
                       
                                         
                  

			
		 		  	
  By:                    
                                         
              

			
		 		  	
    Name:               
                                         
     

		 		  	
    Title:              
                                         
        

		 		  	
		 		  	
  E-mail:            
                                         
                

			
		 		  	
  Address:                  
                                         
        

		 		  	
                   
                                         
   

		 		  	
                   
                                         
   

  

					
		 		  	 PURCHASER (if an individual):

			
		 	Name of Purchaser:	  	   Richard Wooster
                                         
              

			
		 	Signature:	  	    /s/Richard Wooster
                                         
         

		 		  	
		 		  	
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 Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

					
	 FOUNDER:
	 	
			
		 	 /s/Omid Farokhzad
	 	
		 	 Omid Farokhzad
	 	

 Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

					
	 FOUNDER:
	 	
			
		 	 /s/Robert S. Langer, Jr.
	 	
		 	 Robert S. Langer, Jr.
	 	

 Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Amended and
Restated Investors’ Rights Agreement as an instrument under seal as of the date first above written. 
  

					
	 FOUNDER:
	 	
			
		 	 /s/Stephen Lippard
	 	
		 	 Stephen Lippard
	 	

 Signature Page to Fifth Amended and Restated Investors’ Rights Agreement 

 SCHEDULE A 

Schedule of Purchasers 

Eminent II Venture Capital Corp. 
 TaiAn
Technologies 
 Rm. A, 28th Floor, Taipei 101 No. 7, Section 5, Xinyi Rd. 

Xinyi District 
 Taipei City 110, Taiwan 

Flagship Ventures Fund IV, L.P. 
 One Memorial
Drive 
 7th Floor 
 Cambridge, MA 02142 

Flagship Ventures Fund IV-Rx, L.P. 

One Memorial Drive 
 7th Floor 

Cambridge, MA 02142 
 NanoDimension L.P. 

c/o NanoDimension, Inc. 
 P.O. Box 10176 

Governor’s Square, Suite 4-201 Lime 

Tree Bay Ave 
 Grand Cayman
KY1-1002 
 Cayman Islands 

NanoDimension II, L.P. 
 c/o
NanoDimension, Inc. 
 P.O. Box 10176 
 Governor’s Square,
Suite 4-201 Lime 
 Tree Bay Ave 

Grand Cayman KY1-1002 

Cayman Islands 
 New Enterprise Associates 13, Limited
Partnership 1954 
 Greenspring Drive 
 Suite 600 

Timonium, MD 21093 
 NEA Ventures 2012, Limited Partnership 

c/o New Enterprise Associates 
 1954 Greenspring Drive, Suite 600

 Timonium, MD 21093 
 Vaksam LLC 

 31 St. James Ave, Suite 955 

Boston, MA 02116 
 John F. Cogan, Jr. 

Paul Landesman 
 Novo Holdings A/S 

Tuborg Havnevej 19 

DK-2900 Hellerup 
 Denmark

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

Novo Ventures (US), Inc. 
 501 2nd Street, Suite
300 
 San Francisco, CA 94107 
 Versant
Venture Capital V, L.P. 
 One Sansome Street, Suite 3630 
 San
Francisco, CA 94104 
 Versant Affiliates Fund V, L.P. 

One Sansome Street, Suite 3630 
 San Francisco, CA 94104 

Versant Ophthalmic Affiliates Fund I, L.P. 
 One
Sansome Street, Suite 3630 
 San Francisco, CA 94104 
 Versant
Venture Capital V (Canada) LP 
 One Sansome Street, Suite 3630 

San Francisco, CA 94104 
 Aimee L. Hamilton, as Trustee of the
Michael D. Langer 2010 Trust 
 Aimee L. Hamilton, as Trustee of the Samuel A. Langer 2010 Trust 

Aimee L. Hamilton, as Trustee of the Susan K. Langer 2010 Trust 

Andrew Fromkin 
 Andrew J. Fromkin Family Trust 

Mary Langer 

 OCF 2014 Trust 

OCF-BLN Trust 
 Omid
Farokhzad 
 Richard Wooster 
 Robert S.
Langer Jr. 
 SAF-BLN Trust 

Stephen Lippard 
 Stephen Lippard and Judith
Lippard as Trustees for the Lippard Irrevcable Dynasty Trust F/B/O Alexander C. Lippard 
 Stephen Lippard and Judith Lippard as Trustees
for the Lippard Irrevcable Dynasty Trust F/B/O Joshua J. Lippard 

 SCHEDULE B 

Schedule of Initial Stockholders 

FOUNDERS: 
 Omid Farokhzad 

Robert S. Langer, Jr. 
 Stephen Lippard 

LICENSOR SHAREHOLDERS: 
 Brigham and Women’s
Hospital 
 Executive Director, Research Ventures and Licensing 

101 Huntington Avenue, 4th Floor 
 Boston, MA 02199 

Children’s Medical Center Corporation 
 1295 Boylston
Street, Suite 300 
 Boston, MA 02115 
 Massachusetts Institute
of Technology 
 Technology Licensing Office, NE18-501 

One Cambridge Center, Kendall Square 
 Cambridge, MA 02142 

Omega Cambridge SVP L.P. 
 USA Credit Suisse
Securities (USA), LLC 
 1 Federal Street, 36th Floor 
 Boston,
MA 02110 
 OTHER INITIAL STOCKHOLDERS: 
 Shadi K.
Aryanpour, as Trustee of The OCF Irrevocable Trust 2006 
 Shadi K. Aryanpour, as Trustee of The SAF Irrevocable Trust 2006 

Shadi K. Aryanpour, as Trustee of The SAF-BLN Trust 

Reza Aryanpour, as Trustee of The OCF-BLN Trust 

Aimee L. Hamilton, as Trustee of the Susan K. Langer 2010 Trust 

Aimee L. Hamilton, as Trustee of the Michael D. Langer 2010 Trust 

Aimee L. Hamilton, as Trustee of Samuel A. Langer Trust 

Lippard Irrevocable Dynasty Trust F/B/O Joshua J. Lippard, Stephen Lippard, Trustee 

Lippard Irrevocable Dynasty Trust F/B/O Alexander C. Lippard, Stephen Lippard, Trustee 

 Mark Iwicki 

Andrew J. Fromkin

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