Document:

Ohr Pharmaceutical, Inc. S-4

 

Exhibit 10.16 

 

The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended. These securities
have been acquired for investment and not with a view to distribution, and may not be sold, transferred, pledged or hypothecated
in the absence of an effective registration statement for such securities under the Securities Act of 1933, as amended, or an
opinion of counsel delivered to the Company that registration is not required under such Act.

 

NeuBase
Therapeutics, Inc.

WARRANT CERTIFICATE

Dated as of December 17, 2018

Warrant to Purchase Equity Interest

 

Section
1.          Grant of Warrant. NeuBase Therapeutics,
Inc., a Delaware corporation (the “Company”), hereby certifies that, for value received, CARNEGIE MELLON UNIVERSITY
(“Carnegie Mellon”) is entitled to purchase, at an aggregate exercise price of $10.00 (the “Exercise Price”)
for all Shares evidenced by this Warrant, during the Exercise Period (defined below) up to that number of Shares (as that term
is defined in the License (as defined herein)) of the Company (“Equity Interest”) subject to adjustment as herein
provided (as so adjusted from time to time, the “Warrant Shares”) that would constitute, when issued and when added
to the Shares issued to Carnegie Mellon on December 17, 2018 pursuant to Section 4.1 of the License (as defined in Section 3(b)),
eight and two tenths percent (8.2%) of the outstanding Shares of the Company on a fully-diluted basis, that is, treating as outstanding
for this purpose all Shares issuable upon exercise or conversion of outstanding warrant, options, purchase rights or convertible
securities (whether or not exercisable or convertible as of the date hereof), and treating as Equity Interest for this purpose
all equity securities of any series or class, all subject to the terms and conditions set forth herein. Warrant Shares issued
to Carnegie Mellon pursuant to this Warrant Certificate shall be of the same class of Shares as those Shares issued to Carnegie
Mellon pursuant to Section 4.1 of the License.

 

Section
2.          Registration. The Company shall
register this Warrant, upon records to be maintained by the Company for that purpose, in the name of the record holder of this
Warrant from time to time. The Company may deem and treat the registered holder of each Warrant as the absolute owner thereof
for the purpose of any exercise thereof or any distribution to the holder thereof, and for all other purposes, and the Company
shall not be affected by any notice to the contrary.

 

Section
3.          Registration of Transfers and Exchanges.

 

(a)           General. The Company shall register the transfer of any Warrant upon records to be maintained by the Company for
that purpose, upon surrender of this Warrant Certificate, with the Form of Assignment attached hereto duly filled in and signed,
to the Company at the office specified in or pursuant to Section 4(c). Upon any such registration of transfer, a new Warrant Certificate,
in substantially the form of this Warrant Certificate, evidencing the Warrant so transferred shall be issued to the transferee
and a new Warrant Certificate, in similar form, evidencing the remaining Warrant not so transferred, if any, shall be issued to
the then registered holder thereof.

 

     

     

    

 

(b)          Warrant Exchangeable for Different Denominations. This Warrant Certificate is exchangeable, upon the surrender hereof
by the holder hereof at the office of the Company specified in or pursuant to Section 4(c), for new Warrant Certificates, in substantially
the form of this Warrant Certificate, evidencing in the aggregate the right to purchase the number of Warrant Shares which may
then be purchased hereunder, each of such new Warrant Certificates to be dated the date of such exchange and to represent the
right to purchase such number of Warrant Shares as shall be designated by said holder hereof at the time of such surrender.

 

Section
4.          Duration and Exercise of Warrant.

 

(a)           Duration. Warrant shall be exercisable by the registered holder thereof on any business day before 5:00 P.M., Pittsburgh
time, on the last day of the Exercise Period (the “Expiration Date”). At 5:00 P.M., Pittsburgh time, on the Expiration
Date, each Warrant not exercised prior thereto shall expire and be and become void and of no value and all rights under this Warrant
Certificate, other than the rights granted with respect to Warrant Shares pursuant to Section 11, shall cease as of such time.

 

(b)           Exercise. Subject to the provisions of this Warrant Certificate, the holder of each Warrant on or prior to the Expiration
Date shall have the right to purchase from the Company (and the Company shall be obligated to issue and sell to such holder) at
the Exercise Price the number of fully paid and non-assessable Warrant Shares up to the maximum amount described in Section 1
of this Warrant Certificate. The Warrant represented hereby is being issued to Carnegie Mellon in connection with a License Agreement
dated as of December 17, 2018 (as it may be amended from time to time, the “License”) between Carnegie Mellon, as
licensor, and the Company, as licensee. The Warrant shall be exercisable upon the earlier of (i) the day that Licensee’s
cumulative capital funding and/or receipt of cumulative Revenuesequals the sum of Two Million Dollars (U.S. $2,000,000) or (ii)
30 days prior to any Qualified Sale (as defined in the License) or any other merger, consolidation, reorganization, combination
or similar transaction in which the Owners of the Company immediately before such transaction do not continue to control at least
a majority of the voting interests in the Company after such transaction. The Warrant shall continue to be exercisable for a period
of 30 days following the occurrence of the applicable triggering event described in the immediately preceding sentence (the “Exercise
Period”). This Warrant shall be automatically exercised in full, to the extent not previously exercised, upon the date of
the consummation of a Qualified IPO (as such term is defined in the License), and the Company thereupon shall issue to the holder
the Warrant Shares upon surrender of the certificates representing the Warrant and payment of the Exercise Price, and thereafter
all rights under this Warrant Certificate, other than the rights granted with respect to Warrant Shares pursuant to Section 11,
shall cease as of such time.

 

     

     

    

  

(c)           Manner of Exercise. Upon surrender of this Warrant Certificate, with the Form of Election to Purchase attached hereto
duly filled in and signed, to the Company at its office at 2730 Sidney Street, Ste 300, Pittsburgh, PA 15203, or at such other
address as the Company may specify in writing to the then registered holder of the Warrant, and upon payment of the Exercise Price,
all as specified by the holder of this Warrant Certificate in the Form of Election to Purchase, the Company shall promptly issue
and cause to be delivered to or upon the written order of the registered holder of such Warrant, and in such name or names as
such registered holder may designate, a certificate for the Warrant Shares issued upon such exercise of such Warrant. Any person
or entity so designated to be named therein shall be deemed to have become holder of record of such Warrant Shares as of the Date
of Exercise of such Warrant. The “Date of Exercise” of any Warrant means the date on which the Company shall have
received (i) this Warrant Certificate, with the Form of Election to Purchase attached hereto appropriately filled in and duly
signed, and (ii) payment of the Exercise Price for such Warrant.

 

(d)           Partial Exercise. The Warrant evidenced by this Warrant Certificate shall be exercisable during the Exercise Period,
either as an entirety or for part only of the number of Warrant Shares evidenced by this Warrant Certificate. If less than all
of the Warrant Shares evidenced by this Warrant Certificate are exercised at any time during the Exercise Period, the Company
shall issue, at its expense, a new Warrant Certificate, in substantially the form of this Warrant Certificate, for the remaining
number of Warrant Shares evidenced by this Warrant Certificate.

 

Section
5.           Payment of Taxes. The Company
will pay all taxes attributable to the issuance of the Warrant and the Warrant Shares; provided, however, that the Company
shall not be required to pay any tax in respect of the transfer of the Warrant, or the issuance or delivery of certificates for
Warrant Shares or other securities in respect of the Warrant Shares upon the exercise of the Warrant, to a person or entity other
than a then existing registered holder of the Warrant or an Affiliate of such registered holder. An “Affiliate” of
any person or entity means any other person or entity directly or indirectly controlling, controlled by or under direct or indirect
common control with such person or entity.

 

Section
6.           Mutilated or Missing Warrant Certificate.
If this Warrant Certificate shall be mutilated, lost, stolen or destroyed, upon request by the registered holder of the Warrant
the Company will issue, in exchange for and upon cancellation of the mutilated Warrant Certificate, or in substitution for the
lost, stolen or destroyed Warrant Certificate, a new Warrant Certificate, in substantially the form of this Warrant Certificate,
of like tenor and representing the equivalent number of Warrant Shares, but, in the case of loss, theft or destruction, only upon
receipt of evidence satisfactory to the Company of such loss, theft or destruction of this Warrant Certificate and, if requested
by the Company, indemnity also satisfactory to it.

 

Section
7.           Reservation, Listing and Issuance
of Warrant Shares.

 

(a)           General. Until the Expiration Date, the Company will at all times have authorized, and reserve and keep available,
free from preemptive rights, for the purpose of enabling it to satisfy any obligation to issue Warrant Shares upon the exercise
of the Warrant, the number of shares of Warrant Shares deliverable upon exercise of the Warrant. The Company will, at its expense,
use its best efforts to cause such Warrant Shares to be listed (subject to issuance or notice of issuance of Warrant Shares) on
all stock exchanges on which the Equity Interest is listed not later than the first anniversary of the License.

 

     

     

    

 

(b)           Status of Warrant Shares. The Company covenants that all Warrant Shares will, upon issuance in accordance with the
terms of this Warrant Certificate, be (i) duly authorized, fully paid and non-assessable, and (ii) free from all taxes with respect
to the issuance thereof and from all liens, charges and security interests, in each case created by the Company.

 

Section
8.          Certain Adjustments.

 

(a)           Adjustments for Consolidation, Merger, Sale of Assets, Reorganization, etc. In case the Company (i) consolidates
with or merges into any other corporation and is not the continuing or surviving corporation of such consolidation or merger,
or (ii) permits any other corporation to consolidate with or merge into the Company and the Company is the continuing or surviving
corporation but, in connection with such consolidation or merger, the Equity Interest is changed into or exchanged for stock or
other securities of any other corporation or cash or any other assets, or (iii) transfers all or substantially all of its properties
and assets to any other corporation, or (iv) effects a capital reorganization or reclassification of the capital stock of the
Company in such a way that holders of Equity Interest shall be entitled to receive stock, securities, cash or assets with respect
to or in exchange for Equity Interest, then, and in each such case, proper provision shall be made so that, upon the basis and
upon the terms and in the manner provided in this subsection (a), the holder of this Warrant Certificate, upon the exercise of
the Warrant at any time after the consummation of such consolidation, merger, transfer, reorganization or reclassification, shall
be entitled to receive (at the aggregate Exercise Price in effect for all Shares issuable upon such exercise immediately prior
to such consummation as adjusted to the time of such transaction), in lieu of Shares issuable upon such exercise prior to such
consummation, the stock and other securities, cash and assets to which such holder would have been entitled upon such consummation
if such holder had so exercised such Warrant immediately prior thereto (subject to adjustments subsequent to such corporate action
as nearly equivalent as possible to the adjustments provided for in this Section 8).

 

(b)           Notices. In case at any time:

 

 (A)       the Company shall declare any cash dividend on its Equity Interest;

 

 (B)       the Company shall pay any dividend payable in stock upon its Equity Interest or make any distribution (other than regular cash dividends) to the holders of its Equity Interest;

 

 (C)       the Company shall offer for subscription pro rata to the holders of its Equity Interest any additional shares of stock of any class or other rights;

 

     

     

    

 

 (D)       the Company shall authorize the distribution to all holders of its Equity Interest of evidences of its indebtedness or assets (other than cash dividends or cash distributions payable out of earnings or earned surplus or dividends payable in Equity Interest);

 

 (E)        there shall be any capital reorganization, or reclassification of the capital stock of the Company, or consolidation or merger of the Company with another corporation (other than a subsidiary of the Company in which the Company is the surviving or continuing corporation and no change occurs in the Company’s Equity Interest), or sale of all or substantially all of its assets to, another corporation; or

 

 (F)        there shall be a voluntary or involuntary dissolution, liquidation, bankruptcy, assignment for the benefit of creditors, or winding up of the Company

 

then,
in any one or more of said cases, the Company shall give written notice, addressed to the holder of this Warrant Certificate at
the address of such holder as shown on the books of the Company, of (1) the date on which the books of the Company shall close
or a record shall be taken for such dividend, distribution or subscription rights, or (2) the date (or, if not then known, a reasonable
approximation thereof by the Company) on which such reorganization, reclassification, consolidation, merger, sale, dissolution,
liquidation, bankruptcy, assignment for the benefit of creditors, winding up or other action, as the case may be, shall take place.
Such notice shall also specify (or, if not then known, reasonably approximate) the date as of which the holders of Equity Interest
of record shall participate in such dividend, distribution or subscription rights, or shall be entitled to exchange their Equity
Interest for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, sale,
dissolution, liquidation, bankruptcy, assignment for the benefit of creditors, winding up, or other action, as the case may be.
Such written notice shall be given at least twenty days prior to the action in question and not less than twenty days prior to
the record date or the date on which the Company’s transfer books are closed in respect thereto.

 

(c)           Certain Events. If any event occurs as to which the other provisions of this Section 8 are not strictly applicable
but the lack of any adjustment would not fairly protect the purchase rights of the holder of this Warrant Certificate in accordance
with the basic intent and principles of such provisions, or if strictly applicable would not fairly protect the purchase rights
of the holder of this Warrant Certificate in accordance with the basic intent and principles of such provisions, then at the request
of the holder the Company shall appoint a firm of independent certified public accountants of recognized national standing reasonably
satisfactory to the holder, which shall give their opinion upon the adjustment, if any, on a basis consistent with the basic intent
and principles established in the other provisions of this Section 8, necessary to preserve, without dilution, the exercise rights
of the registered holder of this Warrant Certificate. Upon receipt of such opinion, the Company shall forthwith make the adjustments
described therein.

 

     

     

    

 

Section
9.          No Rights as a Stockholder. No
holder of this Warrant Certificate, as such, shall be entitled to vote or be deemed the holder of Equity Interest or any other
securities of the Company which may at any time be issuable on the exercise hereof, nor shall anything contained herein be construed
to confer upon the holder of this Warrant Certificate, as such, the rights of a stockholder of the Company or the right to vote
for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or give or withhold consent
to any corporate action or to receive notice of meetings or other actions affecting stockholders (except as provided herein),
or to receive dividends or subscription rights or otherwise, until the Date of Exercise of Warrant shall have occurred.

 

Section
10.        Fractional Warrant and Fractional Warrant Shares.

 

(a)           Fractional Warrant. The Company shall not be required to issue fractions of Warrant or to distribute any Warrant
Certificate which evidences a fractional Warrant, nor shall the Company be required to make any cash adjustment in respect of
a fractional interest in a Warrant, but any person or entity entitled to a fractional interest in a Warrant may elect, during
such period of time (not less than 20 or more than 90 days from the date such person or entity first becomes entitled to such
fractional interest in a Warrant) as the Company shall determine, to purchase the additional fractional interest required to make
up a full Warrant or to sell the fractional interest to which such person or entity is entitled. Such election shall be made on
a form to be provided for such purpose by the Company. If such election is not made in the time prescribed by the Company, the
fractional interest to which such person or entity is entitled shall be sold to a third party or retained as a treasury share.
Upon any sale the Company shall promptly deliver to the holder of such fractional interest the proportional amount of the proceeds
of such sale attributable to such holder’s fractional interest. Such purchase or sale shall be effected in the manner set
forth in subsection (c) of this Section 10 by the Company, acting as agent for the person or entity entitled to such fractional
interest. For purposes of subsection (c) of this Section 10, the purchase or sale price of a fractional interest of a Warrant
shall be the purchase or sale price for the Equity Interest that would, except for the provisions of this Section, be issuable
upon the exercise of such fractional interest.

 

(b)           Fractional Warrant Shares. The Company shall not be required to issue fractions of Warrant Shares upon exercise
of the Warrant or to distribute certificates which evidence fractional Warrant Shares, nor shall the Company be required to make
any cash adjustment in respect of a fractional interest in a Warrant Share, but any person or entity entitled to a fraction of
a Warrant Share upon exercise of any Warrant may elect, during such period of time (not less than 20 or more than 90 days from
the date such person or entity first becomes entitled to such fractional interest in a Warrant Share) as the Company shall determine,
to purchase the additional fractional interest required to make up a full Warrant Share or to sell the fractional interest to
which such person or entity is entitled. Such election shall be made on a form to be provided for such purpose by the Company.
If such election is not made within the time prescribed by the Company, the fractional interest to which such person or entity
is entitled will be sold to a third party or retained as a treasury share. Upon any sale the Company shall promptly deliver to
the holder of such fractional interest the proportional amount of the proceeds of such sale attributable to such holder’s
fractional interest. Such purchase or sale shall be effected in the manner set forth in subsection (c) of this Section 10 by the
Company, acting as agent for the person or entity entitled to such fractional interest.

 

     

     

    

 

(c)           Certain Procedures Applicable to Purchase and Sale of Fractional Interests. The Company shall bill each person or
entity entitled to a fractional interest in the Warrant or Warrant Shares for the cost of any additional fractional interest purchased
by the Company as agent for such person or entity or shall remit to such person or entity the proceeds of the sale of any fractional
interest sold by it as such agent. In the case of a purchase, the Company may sell the Warrant or Warrant Share to which such
person or entity is entitled if payment is not received by the Company within 30 days after the mailing of such bill and, after
deducting the amount of such bill and other appropriate charges, shall remit the balance, if any, to such person or entity. Fractional
interests shall be non-transferable except by or to the Company acting as herein authorized. The Company may purchase or sell
a fractional interest for an amount equal to the current value of such fractional interest computed on the basis of the market
price of the Equity Interest on the Date of Exercise of the related Warrant. Purchases and sales of fractional interests by the
Company may, in its sole discretion, be set off one against the other on the basis of the market price on the date of setoff.

 

Section
11.        Registration of Warrant and Warrant Shares.

 

(a)           No Registration under Securities Act. Neither the Warrant nor the Warrant Shares have been registered under the
Securities Act of 1933, as amended (such Act, or any similar Federal statute then in effect, being the “Act”). The
Warrant Shares will be marked with a legend similar to the one appearing on the Warrant Certificate. The holder of this Warrant
Certificate, by acceptance hereof, represents that it is acquiring the Warrant to be issued to it for its own account and not
with a view to the distribution thereof, and agrees not to sell, transfer, pledge or hypothecate any Warrant or any Warrant Shares
unless a registration statement is effective for such Warrant or Warrant Shares under the Act or in the opinion of such holder’s
counsel (a copy of which opinion shall be delivered to the Company) such transaction is exempt from the registration requirements
of the Act.

 

(b)           Compliance; Financial Information. The Company will use its best efforts to comply with the reporting requirements
of Section 13 and 15(d) of the Securities Exchange Act of 1934 (whether or not it shall be required to do so pursuant to such
Sections) and will use its best efforts to comply with all other public information reporting requirements of the Securities and
Exchange Commission (such Commission or any successor to any or all of its functions being the “Commission”) (including,
without limitation, Rule 144 promulgated by the Commission under the Act) from time to time in effect and relating to the availability
of an exemption from the Act for sale of restricted securities. The Company shall furnish to Carnegie Mellon financial statements
and reports relating to the Company as soon as reasonably practicable following each fiscal quarter and year until such time as
the Company becomes subject to the reporting requirements of the Securities Exchange Act of 1934. The Company will cooperate with
the holder of this Warrant Certificate and with each holder of any Warrant Shares in supplying such information as may be necessary
for any such holder to complete and file any information reporting forms presently or hereafter required by the Commission as
a condition to the availability of an exemption from the Act for the sale of restricted securities.

 

     

     

    

 

(c)           “Piggyback” Registration. Whenever the Company proposes to file under the Act a registration statement
relating to a public offering of its Equity Interest that includes Shares held by stockholders of the Company (other than a registration
statement required to be filed in respect of employee benefit plans of the Company on Form S-8 or any similar form from time to
time in effect or pursuant to subsection (d) of this Section 11), the Company shall at least fifteen days prior to such filing
give effective written notice of such proposed filing to the registered holder of each Warrant or Warrant Share. Upon receipt
by the Company not more than fifteen days after such effective notice of a written request or written requests from one or more
of such holders for registration of Warrant Shares, the Company shall include in such offering a pro rata portion of the Warrant
Shares as to which such holder or holders request such inclusion, on terms and conditions comparable to those of the securities
offered on behalf of the Company and the other stockholders whose shares are included in such registration.

 

(d)           Other Provisions Relating to Registration Rights. In connection with any registration pursuant to this Section 11:

 

(i)         Duration of Effectiveness of the Registration Statement. The Company shall not be required to maintain the effectiveness
of any registration statement under subsection (c) of this Section 11 for a period in excess of six months or, in the case of
any registration statement under subsection (c) of this Section 110 filed on a Form S-3 Registration Statement under the Act,
for a period in excess of twelve months, or in the case of an underwritten offering, such longer period as may be required by
the Act to enable the underwriters to complete such offering.

 

(ii)        Certain Documents to be Provided by the Company. The Company will furnish to each holder of a Warrant or Warrant
Shares (A) at least seven days prior to the filing thereof with the Commission, a copy of the registration statement in the form
in which the Company proposes to file the same with the Commission and, not later than the effective date thereof, a copy of any
and all amendments to such registration statement, (B) within five days of the filing thereof with the Commission, a copy of any
and all post-effective amendments to such registration statement, and (C) at the request of any such holder, a reasonable number
of copies of a preliminary prospectus and a final prospectus (each of which shall, as of their respective dates, comply with Section
10 of the Act and shall not, as of such dates, include an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make statements therein not misleading) covering the offering and sale by such holders
of the Warrant Shares to be covered thereby as aforesaid.

 

(iii)       Stop Order. The Company will advise each of such holders of the entry of any stop order suspending the effectiveness
of such registration statement or of the initiation of any proceeding for that purpose, and, if such stop order should be entered,
use its best efforts promptly to cause such stop order to be lifted or removed.

 

     

     

    

 

(iv)      Required Amendments and Supplements to the Registration Statement. For such period of time (not exceeding the maximum
period of time for which the Company is required to maintain the effectiveness of such registration statement) as any of such
holders may be required by law to deliver a prospectus in connection with a sale of any Warrant Shares pursuant to such registration
statement, if any event shall occur as a result of which it is necessary to amend or supplement the prospectus forming a part
of such registration statement in order to correct an untrue statement of a material fact, or an omission to state a material
fact necessary to make statements therein, in the light of the circumstances existing when such prospectus is delivered to a purchaser,
not misleading or if it is necessary to amend or supplement such prospectus to comply with any law, the Company will forthwith
prepare and furnish to each of such holders a reasonable number of amended or supplemented prospectuses so that statements in
the prospectuses as so amended or supplemented will not, in the light of the circumstances then existing, be misleading, or so
that such prospectuses will comply with law.

 

(v)       Blue Sky Compliance. The Company will use its reasonable best efforts to quality, file or register the Warrant Shares
being registered under the securities laws of such states of the United States of America as may be reasonably designated by the
holders of Warrant or Warrant Shares and to obtain the consent, authorization or approval of any governmental agency (other than
any such consent, authorization or approval required under any statute or regulation applicable to any such holders and not applicable
to investors generally) required in connection with the issuance of the Warrant Shares being registered or in order that such
holders may publicly sell the Warrant Shares covered by such registration statement.

 

(vi)      Expenses. All fees, disbursements and expenses incurred by the Company in connection with the registration pursuant
to subsection (c) of this Section 11, and all reasonable fees and disbursements of one counsel for the holders of a Warrant or
Warrant Shares, shall be borne by the Company, including, without limitation, all registration and filing fees, all costs of preparation
and printing (in such quantities as the holders of a Warrant or Warrant Shares may reasonably request) of any registration statement
and related prospectus and any amendments or supplements thereto, all fees and disbursements of counsel for the Company, the expenses
of complying with applicable securities or blue sky laws, and all costs in connection with the preparation and delivery of such
legal opinions, auditors’ comfort letters or other closing documents as the holders of a Warrant or Warrant Shares shall
reasonably request.

 

     

     

    

 

(vii)     Indemnity. The Company will indemnify and hold harmless each holder of a Warrant or Warrant Shares and any underwriter
(as defined in the Act) for such holder and each person or entity, if any, who controls such holder or underwriter within the
meaning of the Act, against any losses, claims, damages, liabilities, costs or expenses, joint or several, or actions in respect
thereof to which such holder or underwriter or controlling person or entity may become subject under the Act, or otherwise, insofar
as such losses, claims, damages, liabilities, costs, expenses or actions in respect thereof arise out of, or are based upon, or
are related to, any untrue statement or alleged untrue statement of any material fact contained in any registration statement
under which Warrant Shares of or pertaining to such holder were registered under the Act, any preliminary prospectus, amended
preliminary prospectus, or final prospectus contained therein, or any amendment or supplement thereto, or arise out of, or are
based upon, or are related to, 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, and will reimburse such holder or underwriter or controlling person
or entity for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action; provided that to the extent that any such loss, claim, damage or liability arises out
of, or is based upon, an untrue statement or alleged untrue statement or omission or alleged omission made in said registration
statement, said preliminary prospectus, said amended preliminary prospectus or said final prospectus or any said amendment or
supplement in reliance upon, and in conformity with, written information furnished to the Company in an instrument duly executed
by such holder or by any underwriter for such holder specifically for use in the preparation thereof, the Company will not be
so liable to such holder or underwriter.

 

Section
12.        Notices. All notices, requests, demands and other communications
relating to this Warrant Certificate shall he in writing, including by telex, telegram or cable, addressed, if to the registered
owner hereof, to it at the address furnished by the registered owner to the Company, and if to the Company, to it at 2730 Sidney
Street, Ste 300, Pittsburgh, PA 15203, or to such other address as any party shall notify the other party in writing, and shall
be effective, in the case of written notice by mail, three days after placement into the mails (first class, postage prepaid),
and in the case of notice by facsimile, on the same day as sent.

 

Section
13.        Binding Effect. This Warrant Certificate shall be binding
upon and inure to the sole and exclusive benefit of the Company, its successors and assigns, and Carnegie Mellon and the registered
holder or holders from time to time of the Warrant and the Warrant Shares.

 

Section
14.        Survival of Rights and Duties. This Warrant Certificate
shall terminate and be of no further force and effect on the earlier of 5:00 P.M., Pittsburgh time, on the Expiration Date or
the date on which all of the Warrant have been exercised.

 

Section
15.        Governing Law. This Warrant Certificate shall be construed
in accordance with and governed by the laws of the State of Pennsylvania.

 

     

     

    

 

(The
balance of this page is intentionally left blank).

 

     

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant Certificate to be executed under its corporate seal by its officer(s) thereunto
duly authorized as of the date hereof. 

 

	 	NEUBASE
    THERAPEUTICS, INC.
	 	 
	 [CORPORATE
    SEAL]	By:	/s/
    Dietrich Stephan	 
	 	Name:
	Dietrich Stephan

	 	Title: 	CEO

  

	 	ATTEST:
	 	 
	 	By:	/s/
    Dietrich Stephan	
	 	Name: 	Dietrich Stephan 
	 	Title: 	SecretaryOhr Pharmaceutical, Inc. S-4

 

Exhibit 10.17

 

NOTE
PURCHASE AGREEMENT

 

This
Note Purchase Agreement, dated as of [●] (this “Agreement”), is entered into by and among NeuBase
Therapeutics, Inc., a Delaware corporation (the “Company”), and the persons and entities listed on the
schedule of investors attached hereto as Schedule I (each an “Investor” and, collectively,
the “Investors”), as such Schedule I may be amended in accordance with Section 7 hereof.

 

RECITALS

 

A.       On
the terms and subject to the conditions set forth herein, each Investor is willing to purchase from the Company, and the Company
is willing to sell to such Investor, a convertible promissory note in the principal amount set forth opposite such Investor’s
name on Schedule I.

 

B.       Capitalized
terms not otherwise defined herein shall have the meaning set forth in the form of Note (as defined below) attached hereto as
Exhibit A.

 

AGREEMENT

 

NOW
THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties
hereto, intending to be legally bound, hereby agree as follows:

 

1.       The
Notes.

 

(a)       Issuance
of Notes. Subject to all of the terms and conditions hereof, the Company agrees to issue and sell to each of the Investors,
and each of the Investors severally agrees to purchase, a convertible promissory note in the form of Exhibit A hereto
(each, a “Note” and, collectively, the “Notes”) in the principal amount set
forth opposite the respective Investor’s name on Schedule I. The obligations of the Investors to purchase Notes
are several and not joint. The aggregate principal amount for all Notes issued hereunder shall not exceed $1,500,000.

 

(b)       Delivery.
The sale and purchase of the Notes shall take place at a closing (the “Closing”) to be held at such
place and time as the Company and the Investors may determine (the “Closing Date”). At the Closing,
the Company will deliver to each of the Investors the Note to be purchased by such Investor, against receipt by the Company of
the corresponding purchase price set forth on Schedule I (the “Purchase Price”). The Company
may conduct one or more additional closings within 180 calendar days of the Closing (each, an “Additional Closing”)
to be held at such place and time as the Company and the Investors participating in such Additional Closing may determine (each,
an “Additional Closing Date”). At each Additional Closing, the Company will deliver to each of the Investors
participating in such Additional Closing the Note to be purchased by such Investor, against receipt by the Company of the corresponding
Purchase Price. Each of the Notes will be registered in such Investor’s name in the Company’s records.

 

(c)       Use
of Proceeds. The proceeds of the sale and issuance of the Notes shall be used for general corporate purposes.

 

(d)       Payments.
The Company will make all cash payments due under the Notes in immediately available funds by 1:00 p.m. Eastern time on the
date such payment is due at the address for such purpose specified below each Investor’s name on Schedule I,
or at such other address, or in such other manner, as an Investor or other registered holder of a Note may from time to time direct
in writing.

 

     

     

    

 

2.       Representations
and Warranties of the Company. Except as set forth on the Disclosure Schedule, attached as Schedule II, delivered
to the Investor at the applicable Closing (each, a “Disclosure Schedule”), the Company represents and
warrants to each Investor that:

 

(a)       Due
Incorporation, Qualification, etc. The Company (i) is a corporation duly organized, validly existing and in good standing
under the laws of the State of Delaware; (ii) has the power and authority to own, lease and operate its properties and carry
on its business as now conducted; and (iii) is duly qualified, licensed to do business and in good standing as a foreign
corporation in each jurisdiction where the failure to be so qualified or licensed could reasonably be expected to have a material
adverse effect on the Company.

 

(b)       Authority.
The execution, delivery and performance by the Company of each Transaction Document to be executed by the Company and the consummation
of the transactions contemplated thereby (i) are within the power of the Company and (ii) have been duly authorized
by all necessary actions on the part of the Company.

 

(c)       Enforceability.
Each Transaction Document executed, or to be executed, by the Company has been, or will be, duly executed and delivered by the
Company and constitutes, or will constitute, a legal, valid and binding obligation of the Company, enforceable against the Company
in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or
affecting the enforcement of creditors’ rights generally and general principles of equity.

 

(d)       Non-Contravention.
The execution and delivery by the Company of the Transaction Documents executed by the Company and the performance and consummation
of the transactions contemplated thereby do not and will not (i) violate the Company’s certificate of incorporation
or bylaws or any material judgment, order, writ, decree, statute, rule or regulation applicable to the Company; (ii) violate
any provision of, or result in the breach or the acceleration of, or entitle any other Person to accelerate (whether after the
giving of notice or lapse of time or both), any material mortgage, indenture, agreement, instrument or contract to which the Company
is a party or by which it is bound; or (iii) result in the creation or imposition of any security interest, mortgage, pledge,
lien, claim, charge or other encumbrance upon any property, asset or revenue of the Company or the suspension, revocation, impairment,
forfeiture, or nonrenewal of any material permit, license, authorization or approval applicable to the Company, its business or
operations, or any of its assets or properties.

 

(e)       Subsidiaries.
The Company does not own or control, directly or indirectly, any interest in any corporation, partnership, limited liability company,
association or other business entity.

 

(f)       Approvals.
No consent, approval, order or authorization of, or registration, declaration or filing with, any governmental authority or other
Person (including, without limitation, the shareholders of any Person) is required in connection with the execution and delivery
of the Transaction Documents executed by the Company and the performance and consummation of the transactions contemplated thereby,
other than such as have been obtained and remain in full force and effect and other than such qualifications or filings under
applicable securities laws as may be required in connection with the transactions contemplated by this Agreement.

 

(g)       No
Violation or Default. The Company is not in violation of or in default with respect to (i) its certificate of incorporation
or bylaws or any material judgment, order, writ, decree, statute, rule or regulation applicable to such Person; or (ii) any
material mortgage, indenture, agreement, instrument or contract to which such Person is a party or by which it is bound (nor is
there any waiver in effect which, if not in effect, would result in such a violation or default).

 

     -2-

     

    

 

(h)       Litigation.
Except as set forth in Item 2(h) of the Disclosure Schedule, no actions (including, without limitation, derivative
actions), suits, proceedings or investigations are pending or, to the knowledge of the Company, threatened in writing against
the Company at law or in equity in any court or before any other governmental authority that if adversely determined (i) would
(alone or in the aggregate) result in a material liability or (ii) seeks to enjoin, either directly or indirectly, the execution,
delivery or performance by the Company of the Transaction Documents or the transactions contemplated thereby.

 

(i)      
 Equity Securities. The Company’s total authorized and issued capitalization is as set forth in Item 2(i)
of the Disclosure Schedule. The equity securities (“Equity Securities”) of the Company have the
respective rights, preferences and privileges set forth in the Company’s certificate of incorporation or bylaws in
effect on the date hereof. All of the outstanding Equity Securities of the Company have been duly authorized and are validly
issued, fully paid and nonassessable. Except as expressly referenced herein or as set forth in Item 2(i) of the
Disclosure Schedule, there are as of the date of this Agreement no options, warrants or rights to purchase Equity Securities
of the Company authorized, issued or outstanding, and the Company is not obligated in any other manner to issue shares of its
Equity Securities. Except as set forth in Item 2(i) of the Disclosure Schedule, there are no restrictions on the
transfer of Equity Securities of the Company, other than those imposed by the Company’s certificate of incorporation or
bylaws as of the date hereof, or relevant state and federal securities laws, and no holder of any Equity Security of the
Company or other Person is entitled to preemptive or similar statutory or contractual rights, either arising pursuant to any
agreement or instrument to which the Company is a party or that are otherwise binding upon the Company. The offer and sale of
all Equity Securities of the Company issued before the Closing Date complied with or were exempt from registration or
qualification under all applicable federal and state securities laws. Except as expressly referenced herein or as set forth
in Item 2(i) of the Disclosure Schedule, no Person has the right to demand or other rights to cause the Company
to file any registration statement under the Securities Act of 1933, as amended (the “Securities
Act”), relating to any Equity Securities of the Company presently outstanding or that may be subsequently
issued, or any right to participate in any such registration statement.

 

3.       Representations
and Warranties of Investors. Each Investor, for that Investor alone, represents and warrants to the Company upon the acquisition
of a Note as follows:

 

(a)       Binding
Obligation. Such Investor has full legal capacity, power and authority to execute and deliver this Agreement and to perform
its obligations hereunder. This Agreement and the Transaction Documents constitute valid and binding obligations of such Investor,
enforceable in accordance with their terms, except as limited by bankruptcy, insolvency or other laws of general application relating
to or affecting the enforcement of creditors’ rights generally and general principles of equity.

 

     -3-

     

    

 

(b)       Securities
Law Compliance. Such Investor has been advised that the Notes and the underlying securities have not been registered under
the Securities Act, or any state securities laws and, therefore, cannot be resold unless they are registered under the Securities
Act and applicable state securities laws or unless an exemption from such registration requirements is available. Such Investor
is aware that the Company is under no obligation to effect any such registration with respect to the Notes or the underlying securities
or to file for or comply with any exemption from registration. Such Investor has not been formed solely for the purpose of making
this investment and is purchasing the Notes to be acquired by such Investor hereunder for its own account for investment, not
as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and Investor has no
present intention of selling, granting any participation in, or otherwise distributing the same. Such Investor has such knowledge
and experience in financial and business matters that such Investor is capable of evaluating the merits and risks of such investment,
is able to incur a complete loss of such investment without impairing such Investor’s financial condition and is able to
bear the economic risk of such investment for an indefinite period of time. Such Investor is an accredited investor as such term
is defined in Rule 501 of Regulation D under the Securities Act and shall submit to the Company such further assurances
of such status as may be reasonably requested by the Company. Such Investor has furnished or made available any and all information
requested by the Company or otherwise necessary to satisfy any applicable verification requirements as to accredited investor
status. Any such information is true, correct, timely and complete. The residency of the Investor (or, in the case of a partnership
or corporation, such entity’s principal place of business) is correctly set forth beneath such Investor’s name on
Schedule I.

 

 

(c)       Access
to Information. Such Investor acknowledges that the Company has given such Investor access to the corporate records and accounts
of the Company and to all information in its possession relating to the Company, has made its officers and representatives available
for interview by such Investor, and has furnished such Investor with all documents and other information required for such Investor
to make an informed decision with respect to the purchase of the Notes.

 

(d)       Tax
Advisors. Such Investor has reviewed with its own tax advisors the U.S. federal, state and local and non-U.S. tax consequences
of this investment and the transactions contemplated by this Agreement. With respect to such matters, such Investor relies solely
on any such advisors and not on any statements or representations of the Company or any of its agents, written or oral. Such Investor
understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment
and the transactions contemplated by this Agreement.

 

(e)       No
“Bad Actor” Disqualification Events. Neither (i) such Investor, (ii) any of its directors, executive
officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing
members, nor (iii) any beneficial owner of any of the Company’s voting equity securities (in accordance with Rule 506(d)
of the Securities Act) held by such Investor is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i)
through (viii) under the Securities Act (“Disqualification Events”), except for Disqualification Events
covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed reasonably in advance of the Closing
in writing in reasonable detail to the Company.

 

4.       Conditions
to Closing of the Investors. Each Investor’s obligations at the Closing are subject to the fulfillment, on or prior
to the Closing Date, of all of the following conditions, any of which may be waived in whole or in part by the applicable Investor:

 

(a)       Representations
and Warranties. Subject to the Disclosure Schedule, including any update thereto delivered to the Investor prior to or at
the time the Investor executes this Agreement, the representations and warranties made by the Company in Section 2 shall
be true and correct in all material respects on the Closing Date. 

 

(b)       Governmental
Approvals and Filings. Except for any notices required or permitted to be filed after the Closing Date with certain federal
and state securities commissions, the Company shall have obtained all governmental approvals required in connection with the lawful
sale and issuance of the Notes.

 

     -4-

     

    

 

(c)       Legal
Requirements. At the Closing, the sale and issuance by the Company, and the purchase by the Investors, of the Notes shall
be legally permitted by all laws and regulations to which the Investors or the Company are subject.

 

(d)       Proceedings
and Documents. All corporate and other proceedings in connection with the transactions contemplated at the Closing and all
documents and instruments incident to such transactions shall be reasonably satisfactory in substance and form to the Investors.

 

(e)       Transaction
Documents. The Company shall have duly executed and delivered to the Investors the following documents:

 

   (i)       This Agreement; and

 

   (ii)       Each
Note issued hereunder.

 

5.       Conditions
to Additional Closings of the Investors. The obligations of any Investor participating in an Additional Closing are subject
to the fulfillment, on or prior to the applicable Additional Closing Date, of all of the following conditions, any of which may
be waived in whole or in part by the applicable Investor:

 

(a)       Representations
and Warranties. Subject to the Disclosure Schedule, including any update thereto delivered to the Investor participating in
the Additional Closing prior to or at the time the Investor executes this Agreement, the representations and warranties made by
the Company in Section 2 shall be true and correct in all material respects on the applicable Additional Closing Date. 

 

(b)       Governmental
Approvals and Filings. Except for any notices required or permitted to be filed after the Additional Closing Date with certain
federal and state securities commissions, the Company shall have obtained all governmental approvals required in connection with
the lawful sale and issuance of the Notes at such Additional Closing.

 

(c)       Legal
Requirements. At the Additional Closing, the sale and issuance by the Company, and the purchase by the Investors participating
in such Additional Closing, of the Notes shall be legally permitted by all laws and regulations to which such Investors or the
Company are subject.

 

(d)       Transaction
Documents. The Company shall have duly executed and delivered to the Investors participating in such Additional Closing each
Note to be issued at such Additional Closing and shall have delivered to such Investors fully executed copies, if applicable,
of all documents delivered to the Investors participating in the initial Closing.

 

6.       Conditions
to Obligations of the Company. The Company’s obligation to issue and sell the Notes at the Closing and at each Additional
Closing is subject to the fulfillment, on or prior to the Closing Date or the applicable Additional Closing Date, of the following
conditions, any of which may be waived in whole or in part by the Company:

 

(a)       Representations
and Warranties. The representations and warranties made by the applicable Investors in Section 3 hereof shall
be true and correct when made, and shall be true and correct on the Closing Date or the applicable Additional Closing Date.

 

(b)       Governmental
Approvals and Filings. Except for any notices required or permitted to be filed after the Closing Date or the applicable Additional
Closing Date, as applicable, with certain federal and state securities commissions, the Company shall have obtained all governmental
approvals required in connection with the lawful sale and issuance of the Notes.

 

     -5-

     

    

 

(c)       Legal
Requirements. At the Closing and at each Additional Closing, the sale and issuance by the Company, and the purchase by the
applicable Investors, of the Notes shall be legally permitted by all laws and regulations to which such Investors or the Company
are subject.

 

(d)       Purchase
Price. Each Investor shall have delivered to the Company the Purchase Price in respect of the Note being purchased by such
Investor referenced in Section 1(b).

 

7.       Miscellaneous.

 

(a)       Waivers
and Amendments. Any provision of this Agreement and the Notes may be amended, waived or modified only upon the written consent
of the Company and Investors holding more than 50% of the aggregate outstanding principal amount of the Notes; provided, however,
that no such amendment, waiver or consent shall: (i) reduce the principal amount of any Note without the affected Investor’s
written consent, or (ii) reduce the rate of interest of any Note without the affected Investor’s written consent. Any
amendment or waiver effected in accordance with this paragraph shall be binding upon all of the parties hereto. Notwithstanding
the foregoing, this Agreement may be amended to add a party as an Investor hereunder in connection with Additional Closings without
the consent of any other Investor, by delivery to the Company of a counterparty signature page to this Agreement, together with
a supplement to Schedule I and Schedule II. Such amendment shall take effect at the Additional Closing
and such party shall thereafter be deemed an “Investor” for all purposes hereunder and Schedule I
and Schedule II shall be updated to reflect the addition of such Investor.

 

(b)       Governing
Law. This Agreement and all actions arising out of or in connection with this Agreement shall be governed by and construed
in accordance with the laws of the State of Delaware, without regard to the conflicts of law provisions of the State of Delaware
or of any other state.

 

(c)       Jurisdiction
and Venue. With respect to any disputes arising out of or related to this Agreement, each of the parties consents to the exclusive
jurisdiction of, and venue in, the state courts in Delaware (or in the event of exclusive federal jurisdiction, the courts of
Delaware).

 

(d)       Survival.
The representations, warranties, covenants and agreements made herein shall survive the execution and delivery of this Agreement.

 

(e)       Successors
and Assigns. Subject to the restrictions on transfer described in Sections 7(f) and 7(g), the rights
and obligations of the Company and the Investors shall be binding upon and benefit the successors, assigns, heirs, administrators
and transferees of the parties.

 

(f)       Registration,
Transfer and Replacement of the Notes. The Notes issuable under this Agreement shall be registered notes. The Company will
keep, at its principal executive office, books for the registration and registration of transfer of the Notes. Prior to presentation
of any Note for registration of transfer, the Company shall treat the Person in whose name such Note is registered as the owner
and holder of such Note for all purposes whatsoever, whether or not such Note shall be overdue, and the Company shall not be affected
by notice to the contrary. Subject to any restrictions on or conditions to transfer set forth in any Note, the holder of any Note,
at its option, may in person or by duly authorized attorney surrender the same for exchange at the Company’s chief executive
office, and promptly thereafter and at the Company’s expense, except as provided below, receive in exchange therefor one
or more new Note(s), each in the principal requested by such holder, dated the date to which interest shall have been paid on
the Note so surrendered or, if no interest shall have yet been so paid, dated the date of the Note so surrendered and registered
in the name of such Person or Persons as shall have been designated in writing by such holder or its attorney for the same principal
amount as the then unpaid principal amount of the Note so surrendered. Upon receipt by the Company of evidence reasonably satisfactory
to it of the ownership of and the loss, theft, destruction or mutilation of any Note and (a) in the case of loss, theft or
destruction, of indemnity reasonably satisfactory to it; or (b) in the case of mutilation, upon surrender thereof, the Company,
at its expense, will execute and deliver in lieu thereof a new Note executed in the same manner as the Note being replaced, in
the same principal amount as the unpaid principal amount of such Note and dated the date to which interest shall have been paid
on such Note or, if no interest shall have yet been so paid, dated the date of such Note.

 

     -6-

     

    

 

(g)      Assignment
by the Company. The rights, interests or obligations hereunder may not be assigned, by operation of law or otherwise, in whole
or in part, by the Company without the prior written consent of Investors holding at least 50% of the aggregate outstanding principal
amount of the Notes.

 

(h)      Entire
Agreement. This Agreement together with the other Transaction Documents constitute and contain the entire agreement among
the Company and Investors and supersede any and all prior agreements, negotiations, correspondence, understandings and communications
among the parties, whether written or oral, respecting the subject matter hereof.

 

(i)       Notices.
All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or
certified mail, postage prepaid, sent by electronic mail (if to an Investor or any other holder of Company securities) or otherwise
delivered by hand, messenger or courier service addressed:

 

  (i)       if
to an Investor, to the Investor’s address or electronic mail address as shown in the Company’s records, as may be
updated in accordance with the provisions hereof;

 

  (ii)       if
to any other holder of any Notes or shares issuable upon conversion thereof, to such address or electronic mail address as shown
in the Company’s records, or, until any such holder so furnishes an address or electronic mail address to the Company, then
to the address or electronic mail address of the last holder of such Notes or shares issuable upon conversion thereof for which
the Company has contact information in its records; or

 

  (iii)      if
to the Company, to the attention of the Chief Executive Officer or Chief Financial Officer of the Company at 2730 Sidney Street,
Suite 300, Pittsburgh, PA 15203, or at such other current address as the Company shall have furnished to the Investors, with a
copy (which shall not constitute notice) to Mark C. Solakian, Wilson Sonsini Goodrich & Rosati, P.C., 28 State Street,
37th Floor, Boston, MA 02109.

 

Each
such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given (i) if
delivered by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service,
freight prepaid, specifying next-business-day delivery, one business day after deposit with the courier), or (ii) if sent
via mail, at the earlier of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for
the deposit of the United States mail, addressed and mailed as aforesaid, or (iii) if sent via electronic mail, upon confirmation
of delivery when directed to the relevant electronic mail address, if sent during normal business hours of the recipient, or if
not sent during normal business hours of the recipient, then on the recipient’s next business day. In the event of any conflict
between the Company’s books and records and this Agreement or any notice delivered hereunder, the Company’s books
and records will control absent fraud or error.

 

     -7-

     

    

 

Subject
to the limitations set forth in Delaware General Corporation Law §232(e), each Investor or other security holder consents
to the delivery of any notice to stockholders given by the Company under the Delaware General Corporation Law or the Company’s
certificate of incorporation or bylaws by (i) facsimile telecommunication to the facsimile number set forth on Schedule I
(or to any other facsimile number for the Investor or other security holder in the Company’s records), (ii) electronic
mail to the electronic mail address set forth on Schedule I (or to any other electronic mail address for the Investor
or other security holder in the Company’s records), (iii) posting on an electronic network together with separate notice
to the Investor or other security holder of such specific posting or (iv) any other form of electronic transmission (as defined
in the Delaware General Corporation Law) directed to the Investor or other security holder. This consent may be revoked by an
Investor or other security holder by written notice to the Company and may be deemed revoked in the circumstances specified in
Delaware General Corporation Law §232.

 

  (j)       Separability
of Agreements; Severability of this Agreement. The Company’s agreement with each of the Investors is a separate agreement
and the sale of the Notes to each of the Investors is a separate sale. Unless otherwise expressly provided herein, the rights
of each Investor hereunder are several rights, not rights jointly held with any of the other Investors. Any invalidity, illegality
or limitation on the enforceability of the Agreement or any part thereof, by any Investor whether arising by reason of the law
of the respective Investor’s domicile or otherwise, shall in no way affect or impair the validity, legality or enforceability
of this Agreement with respect to other Investors. If any provision of this Agreement shall be judicially determined to be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

 

  (k)       Counterparts.
This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but all of which together
will constitute one and the same agreement. Facsimile copies of signed signature pages will be deemed binding originals.

 

(signature
page follows)

 

     -8-

     

    

 

The
parties are signing this Note Purchase Agreement as of the date stated in the introductory clause.

 

	 	NEUBASE THERAPEUTICS, INC.,
	 	a Delaware corporation
	 	 
	 	By:	 
	 	 
	 	Name:	 
	 	 
	 	Title:	 
	 	 
	 	INVESTOR
	 	 
	 	(Print investor name)
	 	 
	 	(Signature) 
	 	 
	 	(Print name of signatory, if signing for an entity)
	 	 
	 	(Print title of signatory, if signing for an entity)
	 	 

 

(Signature
page for Note Purchase Agreement)

 

     

     

    

 

SCHEDULE
I

 

SCHEDULE
OF INVESTORS

 

Initial
Closing Investors

 

	Investor

        
	 	Principal
                                         Amount of Note

        
	 	Purchase
Price 

	[●]	 	$[●]	 	$[●]

 

[Add
Subsequent Closing(s), as appropriate]

 

     

     

    

 

SCHEDULE
II

 

DISCLOSURE
SCHEDULE

 

     

     

    

 

Exhibit
A

 

FORM
OF NOTE

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