Document:

Non-Exclusive License Agreement between Seattle Genetics, Inc. and ICOS Corp.

 Exhibit 10.45 
 NON-EXCLUSIVE LICENSE AGREEMENT 
 This
Non-exclusive License Agreement (the “Agreement”), effective as of October 16th, 2000 (The “Effective Date”), is entered into by and between ICOS Corporation, a Delaware corporation having offices at 22021 20th Avenue SE, Bothell, WA 98021, U.S.A.,
(“ICOS”), and Seattle Genetics, Inc., a Delaware corporation having offices at 22215 26th Avenue S.E., Suite 300, Bothell, WA 98021 (“LICENSEE”). All references to LICENSEE in this Agreement shall include its
Affiliates (as such term is defined below). 
 BACKGROUND 

A. ICOS is the owner of certain Patent Rights (as defined below) and LICENSEE wishes to acquire a non-exclusive license under the Patent
Rights for use in the Field; and 
 B. ICOS is willing to grant LICENSEE such a non-exclusive license, on the terms and
conditions set forth below. 
 NOW, THEREFORE, in consideration of the promises and the mutual covenants hereinafter
recited, the parties agree as follows: 
 ARTICLE 1- DEFINITIONS 
 In this Agreement, the following terms shall have the meanings set forth in this Article. 
 1.1 “Affiliate” means any corporation or other entity which is directly or indirectly controlling, controlled by or under common control with a party hereto. For the purpose of this
Agreement, “control” shall mean the direct or indirect ownership of at least fifty percent (50%) of the outstanding shares or other voting rights of the subject entity to elect directors. 

1.2 “BLA” means a Biologics License Application, as defined in the U.S. Food, Drug and Cosmetic Act and the regulations
promulgated thereunder and any corresponding U.S. or foreign application, registration or certification. 
 1.3 “Change
in Control” shall mean (i) the merger or consolidation of LICENSEE with another entity where less than thirty percent (30%) of the outstanding voting securities of the combined entity immediately after such merger or consolidation
is held by the holders of the outstanding voting securities of LICENSEE immediately prior to such merger or consolidation; (ii) the acquisition by means of a stock purchase, directly or indirectly, by a party or parties acting in concert of
fifty percent (50%) or more of LICENSEE’s voting stock in a single transaction or a series of related transactions; but excluding any transaction that is primarily for financing purposes or, (iii) the sale of all or substantially all
of the assets of LICENSEE. 
 1.4 “Confidential Information” shall mean (i) any proprietary or
confidential information or material in tangible form disclosed hereunder that is designated as “Confidential” at the time it is delivered to the receiving party, or (ii) proprietary or confidential information disclosed orally
hereunder which is identified as confidential or proprietary when disclosed and such disclosure of confidential information is confirmed in writing within thirty (30) days by the disclosing party. 

 1.5 “Field” means (i) production of recombinant proteins for the
development, manufacture, use and sale of products for human therapeutic uses, and (ii) for internal research purposes. For the purposes of this Agreement, “internal research purposes” shall mean any activity by SGI for its own
research and shall not include any right of transfer to a third party and shall not include any product which shall become a Licensed Product upon which royalties are due. 
 1.6 “IND” shall mean an Investigational New Drug application, as defined in the U.S. Food, Drug and Cosmetic Act and the regulations promulgated thereunder for initiating clinical trials
in the United States, or any corresponding foreign application, registration or certification. 
 1.7 “Licensed
Product” shall mean any product in development by LICENSEE whose development, manufacture, use or sale would constitute an infringement of a Valid Claim. in the country of development, manufacture, use or sale. 

1.8 “Licensed Technology” means the Patent Rights. 

1.9 “Net Sale” shall mean revenues on an accrual basis, in accordance with U.S. generally accepted accounting
principles, as follows: the invoice price of Licensed Products sold by LICENSEE its affiliates or its sublicensees to third parties, less to the extent included in such invoice price the total of: (1) ordinary and customary trade discounts
actually allowed; (2) credits, rebates and returns (including, but not limited to, wholesaler and retailer returns); (3) freight, postage, insurance and duties paid for and separately identified on the invoice or other documentation
maintained in the ordinary course of business, and (4) excise or value-added taxes, other consumption taxes, customs duties and compulsory payments to governmental authorities actually paid and separately identified on the invoice or other
documentation maintained in the ordinary course of business. Net Sales shall also include the fair market value of all other consideration received by LICENSEE in respect of Licensed Products, whether such consideration is in cash, payment in kind,
exchange or another form. 
 1.10 “Patent Rights” shall mean the patent applications and patents listed on
Exhibit A hereto and all divisions, continuations, continuations-in-part, and substitutions thereof; all foreign patent applications corresponding to the preceding applications; and all U.S. and foreign patents issuing on any of the preceding
applications, including extensions, reissues, and reexaminations. 
 1.11 “Phase II” or “Phase III”
shall mean a Phase II or, as the case may be, Phase III clinical trial as prescribed by applicable FDA regulations, or corresponding regulations of any comparable entity. 
 1.12 “Valid Claim” means (i) a claim of an issued and unexpired patent included within the Patent Rights which has not been held invalid in a final decision of a court of competent
jurisdiction from which no appeal may be taken, and which has not been disclaimed or admitted to be invalid or unenforceable through reissue or otherwise, or (ii) a claim of a pending patent application within the Patent Rights. 

ARTICLE 2 - LICENSE 

  
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 2.1.1 Grant of License. ICOS hereby grants to LICENSEE and LICENSEE hereby accepts
from ICOS, upon and subject to the terms and conditions herein specified, a worldwide, non-exclusive, royalty-bearing license under the Patent Rights to make, to have made, to use and to sell Licensed Products in the Field. LICENSEE shall have the
right to sublicense its foregoing license rights to the Patent Rights for the purposes of developing, manufacturing, marketing or selling Licensed Products, the development of which was commenced by LICENSEE (and not the sublicensee) prior to
entering into such sublicense. The sublicense rights here granted are limited to sublicenses undertaken for LICENSEE to engage in its own core business and are not granted nor shall be used to materially compete with ICOS licensing of the Patent
Rights herein. LICENSEE shall not use the Patent Rights outside the field. 
 2.1.2 Grant Back to Licensor. In the event
that LICENSEE modifies the transcriptional regulating sequences described by the Patent Rights beyond “the use” expressly allowed and licensed herein to practice the Patent Rights within the Field, Licensee agrees to grant, and hereby does
grant to ICOS, an exclusive, worldwide, fully paid up license to any and all intellectual property and know-how arising out of the LICENSEE’s use outside the permitted scope of the License granted in 2.1.1 above. 

2.2 No Implied Rights. Only the license granted pursuant to the express terms of this Agreement shall be of any legal force or
effect and no rights to transfer or, except as set forth in Section 2.1, sublicense the licensed rights are granted herein. No other license rights shall be granted or created by implication, estoppel or otherwise. 

2.3 Ownership: Enforcement. At all times ICOS will retain ownership of the Licensed Technology and may use, license and
commercialize such Licensed Technology itself or with third parties. ICOS retains the right, at its sole discretion, to enforce, maintain and otherwise protect the Licensed Technology. LICENSEE shall give ICOS immediate notice of any infringement by
a third party of any of the Patent Rights which comes to LICENSEE’S attention during the term of this Agreement. LICENSEE will cooperate with ICOS with respect to any actions ICOS may choose to take pursuant to this Subsection 2.3 and ICOS will
reimburse LICENSEE for its reasonable costs and adjudicated claims against SGI, all arising in this regard. 
 2.4 Delivery
of Materials. Within twenty (20) days after request by LICENSEE, ICOS shall deliver to LICENSEE the materials listed in Exhibit B. The materials shall be used in compliance with this Agreement and may not be conveyed to other parties except
for sublicensees as described herein. 
 ARTICLE 3 - CONSIDERATION 

3.1 Milestone Payments. Within thirty (30) days following the first achievement by LICENSEE, its affiliates or its
sublicensees of the following milestones with respect to each Licensed Product, LICENSEE shall pay to ICOS the applicable payments below: 
  

	 	3.1.1	LICENSEE shall pay to ICOS $50,000.00 U.S. (Fifty Thousand U.S. Dollars) upon approval to commence a Phase II clinical trial or instead at ICOS discretion, a Phase III
clinical trial. 

  

	 	3.1.2	LICENSEE shall pay to ICOS $100,000.00 U.S. (One Hundred Thousand U.S. Dollars) upon filing for BLA. 

  
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	 	3.1.3	LICENSEE shall pay to ICOS $500,000.00 U.S. (Five Hundred Thousand U.S. Dollars) upon grant of the BLA. 

3.2 Royalties. LICENSEE shall pay to ICOS a royalty of 0.75% on all Net Sales of any Licensed Product (the “Royalty
Rate”) provided, however, that the Royalty Rate shall be reduced to 0.25% for any Licensed Product utilizing BR96. Notwithstanding the foregoing, in the event of a Change in Control of Licensee, the Royalty Rate with respect to Licensed
Products for which development is to commence after the consummation of the Change in Control shall be increased to the greater of 1.0% or the median royalty rate in all other license agreements of ICOS then in effect under which ICOS has licensed
any of the Patent Rights solely and is receiving royalties, but in no event shall the Royalty Rate be increased above 1.5%. 

3.3 One Royalty. No more than one royalty payment shall be due with respect to a sale of a particular Licensed Product. No
multiple royalties shall be payable because any Licensed Product, or its manufacture, sale or use is covered by more than one Valid Claim. 
 3.4 Sublicensing Obligations. Whenever LICENSEE sublicenses any rights hereunder it shall promptly notify ICOS of the scope of the sublicense, the sublicensee’ s name and address and the
description of the Licensed Product to which the sublicense pertains. LICENSEE shall remain responsible for the sublicensee’s compliance with the terms of this Agreement and shall remain responsible for paying and reporting all royalties and
milestone payments due hereunder as if the milestones and sales of Licensed Products by sublicensee were those of LICENSEE, i.e., LICENSEE shall pay all royalties set forth in 3.2 with respect to Net Sales of Licensed Products by sublicensee, report
all such sales and pay the milestone payments set forth in Section 3.1 upon the achievement of the milestones by the sublicensee. 

ARTICLE 4 – PAYMENTS; REPORTS AND RECORDS 
 4.1 Payments: Currency. All payments due hereunder shall be paid by wire transfer in United States dollars in immediately available funds to an account designated by ICOS. If any currency
conversion shall be required in connection with the payment of any royalties hereunder, such conversion shall be made by using the exchange rate for the purchase of U.S. dollars quoted in the U.S. version of the Wall Street Journal on the last
business day of the calendar quarter to which such royalty payments relate. 
 4.2 Royalty Reports and Payments. After
the first commercial sale of a Licensed Product on which royalties are required to be paid hereunder, LICENSEE shall make quarterly written reports to ICOS within sixty (60) days after the end of each calendar quarter, stating in each such
report, by country, the number, description, and aggregate Net Sales of each Licensed Product sold during the calendar quarter, ICOS shall treat all such reports as Confidential Information of LICENSEE. Concurrently with the making of such reports,
LICENSEE shall pay ICOS the royalties specified in Section 3.3 hereof. 
 4.3 Records: Inspection. LICENSEE shall
keep complete, true and accurate books of account and records for the purpose of determining the royalty amounts payable under this Agreement. Such books and records shall be kept at the principal place of business of LICENSEE for at least three
(3) years following the end of the calendar quarter to which they pertain and will be available for inspection during such period by a representative of ICOS for 

  
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the purpose of verifying the royalty reports and payments. Such inspections shall be made during ordinary business hours. The representative may be obliged to execute a reasonable confidentiality
agreement prior to commencing any such inspection. Inspections conducted under this Section 4.3 shall be at the expense of ICOS, unless an underpayment exceeding five percent (5 %) of the amount stated for any period covered by the inspection
is identified, in which case all costs relating to the inspection will be paid immediately by LICENSEE. Any underpayments or unpaid amounts discovered by such inspections or otherwise will be paid immediately by LICENSEE, with interest from the date
(s) such amount (s) were due at the prime rate reported in the Wall Street Journal plus two percent (2%). 
 ARTICLE 5- DILIGENCE

 5.1 Reasonable Efforts. LICENSEE agrees to use reasonable efforts consistent with its prudent business judgment to
diligently develop and commercialize the Patent Rights and obtain such approvals as may be necessary for the sale of the Licensed Products in the United States and such other worldwide markets as LICENSEE elects to commercialize the Licensed
Products. 
 5.2 Reports to ICOS. During the term of this Agreement, for all products which are produced for commercial
manufacture using the Licensed Technology and for any modification of the transcriptional regulating sequences claimed by the Licensed Patent; LICENSEE shall keep ICOS reasonably informed of its activities subject to this Agreement, including the
achievement of the milestones set forth in Section 3.1 for the commercialization of each Licensed Product. “Reasonably informed” for the purposes of this Section 5.2 shall mean at least once per calendar year and more often if
the reported events will affect the duties of the LICENSEE under this Agreement. When the registration package requesting approval for commercial sale of each Licensed Product is first filed in each of the U.S., Europe and Japan, and in each case
when approval is received therefor, LICENSEE will promptly notify ICOS. LICENSEE shall notify ICOS within thirty (30) days after the first commercial sale of each Licensed Product. 
 ARTICLE 6- CONFIDENTIALITY 
 6.1 Confidential Information. Except as
expressly provided herein, the parties agree that, for the term of this Agreement and for five (5) years thereafter, the receiving party shall keep completely confidential and shall not publish or otherwise disclose and shall not use for any
purpose except for the purposes contemplated by this Agreement any Confidential Information furnished to it by the disclosing party hereto, except that to the extent that it can be established by the receiving party by written proof that such
Confidential Information: 
  

	 	(a)	was already known to the receiving party, other than under an obligation of confidentiality, at the time of disclosure; 

 

	 	(b)	was generally available to the public or otherwise part of the public domain at the time of its disclosure to the receiving party; 

  
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	 	(c)	became generally available to the public or otherwise part of the public domain after its disclosure and other than through any act or omission of the receiving party
in breach of this Agreement; or 

  

	 	(d)	was subsequently lawfully disclosed to the receiving party by a person other than a party hereto. 

6.2 Permitted Use and Disclosures. Each party hereto may use or disclose information disclosed to it by the other party to the
extent such use or disclosure is reasonably necessary in complying with applicable law or governmental regulations or conducting clinical trials; provided that if a party is required to make any such disclosure of another party’s Confidential
Information, other than pursuant to a confidentiality agreement, it will give reasonable advance notice to the latter party of such disclosure and, will use its reasonable best efforts to secure confidential treatment of such information prior to
its disclosure (whether through protective orders or otherwise). 
 6.3 Confidential Terms. Except as expressly provided
herein, each party agrees not to disclose any terms of this Agreement to any third party without the consent of the other party; provided, disclosures may be made as required by securities or other applicable laws, or to actual or prospective
corporate partners, or to a party’s accountants, attorneys and other professional advisors. 
 6.4 Agreement
Announcement. The parties hereby agree that fact of the consummation of this Agreement and its general subject matter shall be deemed to be in the public domain and may be announced or otherwise referred to, subject to the prior approval of each
party of the form of any such press release or public announcement, but that the specific terms and conditions herein shall be Confidential Information of each party. 
 ARTICLE 7- REPRESENTATIONS AND WARRANTIES 
 7.1 Representations and
Warranties. ICOS represents and warrants that at the time of entering into this Agreement: (a) it is the sole and exclusive owner of all right, title and interest in the Patent Rights; and (b) it has the right to grant the license
granted herein. 
 7.2 Disclaimer. Nothing in this Agreement is or shall be construed as: 

 

	 	(a)	A warranty or representation by ICOS as to the validity or scope of any claim or patent within the Patent Rights; 

 

	 	(b)	A warranty or representation that anything made, used, sold, or otherwise disposed of under any license granted in this Agreement is or will be free from infringement
of any patent rights or other intellectual property right of any third party; 

  

	 	(c)	An obligation to bring or prosecute actions or suits against third parties for infringement of any of the Patent Rights or misappropriation of any Know-How; or

  
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	 	(d)	Granting by implication, estoppel, or otherwise any licenses or rights under patents or other rights of ICOS or third parties, regardless of whether such patents or
other rights are dominant or subordinate to any patent within the Patent Rights. 

 7.3 No Warranties.
EXCEPT AS SET FORTH IN SECTION 7.1, ICOS GRANTS NO WARRANTIES WITH RESPECT TO THE LICENSED TECHNOLOGY, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUE OR OTHERWISE, AND ICOS SPECIFICALLY DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTY
OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OF THE PATENT RIGHTS OR NON-INFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF ANY THIRD PARTY. 
 ARTICLE 8 - INDEMNIFICATION 
 8.1 By LICENSEE. LICENSEE agrees to
indemnify, defend and hold ICOS and its directors, officers, employees and agents harmless from and against any and all liabilities, claims, demands, expenses (including, without limitation, attorneys and professional fees, other costs of litigation
and including the costs of establishing the right to indemnify), losses or causes of action (each, a “Liability”) arising out of or relating in any way to (i) the possession, manufacture use, sale or other disposition of Licensed
Products, whether based on breach of warranty, negligence, product liability or otherwise, (ii) the exercise of any right granted to LICENSEE pursuant to this Agreement, or (iii) any breach of this Agreement by LICENSEE, except to the
extent, in each case, that such Liability is caused by the negligence (active, passive or imputed) or willful misconduct of ICOS as determined by a court of competent jurisdiction. 

8.2 By ICOS. ICOS agrees to indemnify, defend and hold LICENSEE and its directors, officers, employees and agents harmless from
and against any and all liabilities, claims, demands, expenses (including, without limitation, attorneys and professional fees, other costs of litigation and including the costs of establishing the right to indemnify), losses or causes of action
(each, a “Liability”) arising out of or relating in anyway to breach of any of ICOS’s representations and warranties made under Section 7.1 of this Agreement. 
 ARTICLE 9 - TERM AND TERMINATION 
 9.1 Term. The term of this
Agreement will commence on the Effective Date and remain in full force and effect until the expiration of the last patent within the Patent Rights, unless earlier terminated in accordance with this Article 9. 

9.2 Permissive Termination. LICENSEE may terminate this Agreement at any time by providing ICOS notice in writing at least thirty
(30) days prior to the effective date of termination. 
 9.3 Termination for Cause. Either party may terminate this
Agreement in the event the other party has materially breached or defaulted in the performance of any of its obligations hereunder, and such default has continued for thirty (30) days after written notice thereof was provided to the breaching
party by the non-breaching party. Any termination shall become effective at the end of such thirty (30) day period unless the breaching party has cured any such 

  
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breach or default prior to the expiration of such period. Notwithstanding the above, in the case of a failure to pay any amount due hereunder the period for cure of any such default following
notice thereof shall be five (5) days and, unless payment is made within such period, the termination shall become effective at the end of such period. 
 9.4 Termination for Insolvency. If voluntary or involuntary proceedings by or against a, party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for
such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing,
or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this
Agreement effective upon notice of such termination. 
 9.5 Effect of Termination. 

 

	 	(a)	Accrued Rights and Obligations. Termination of this Agreement for any reason shall not release any party hereto from any liability which, at the time of such
termination, has already accrued to the other party or which is attributable to a period prior to such termination nor preclude either party from pursuing any rights and remedies it may have hereunder or at law or in equity with respect to any
breach of this Agreement. It is understood and agreed that monetary damages may not be a sufficient remedy for any breach of this Agreement and that the non-breaching party may be entitled to injunctive relief as a remedy for any such breach. Such
remedy shall not be deemed to be the exclusive remedy for any such breach of this Agreement, but shall be in addition to all other remedies available at law or in equity. 

 

	 	(b)	Return of Confidential Information. Upon any termination of this Agreement, LICENSEE and ICOS shall promptly return to the other party all Confidential
Information, (except ICOS may retain copies of any reports or records subject to Article 4). 

  

	 	(c)	Stock on Hand. In the event this Agreement is terminated for any reason, LICENSEE shall have the right to sell or otherwise dispose of the stock of any Licensed
Product then on hand until six (6) months after such termination, subject to Articles 3 and 4 and the other applicable terms of this Agreement. 

 

	 	(d)	Licenses. All licenses granted hereunder shall terminate upon the termination of this Agreement. 

9.6 Survival. Articles 3, 4, 6, 7, 8 and Sections 9.5 and 9.6 and any Section of 10 that have continued obligation of this
Agreement shall survive the expiration or termination of this Agreement for any reason and any Definition of Section 1 required to interpret such surviving provisions. 

  
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 ARTICLE 10 – MISCELLANEOUS PROVISIONS 

10.1 Governing Law: Venue. This Agreement and any dispute, including without limitation any arbitration, arising from the
performance or breach hereof shall be governed by and construed and enforced in accordance with the laws of the State of Washington and the United States of America, without reference to conflicts of laws principles. The exclusive venue of any
dispute arising out of or in connection with the performance or breach of this Agreement shall be the state or federal courts in King County, Washington, and the parties hereby consent to the personal jurisdiction of such courts. 

10.2 Assignment. LICENSEE may not transfer or assign this Agreement or any of LICENSEE’s rights hereunder without the written
consent of ICOS, except that LICENSEE may assign such rights or duties without such consent in connection with any merger, consolidation, or any sale of all or substantially all of its assets. Any such attempted or constructive transfer or
assignment other than the foregoing shall be void. ICOS may assign this Agreement or its rights hereunder. This Agreement shall be binding upon and inure to the benefit of the parties and their permitted successors and assigns. 

10.3 Waiver. No waiver of any rights shall be effective unless expressly consented to in writing by the party to be charged and
the waiver of any breach of default shall not constitute a waiver of any other right hereunder or any subsequent breach or default. 
 10.4 Severability. In the event that any provisions of this Agreement are determined to be invalid or unenforceable by a court of competent jurisdiction, the remainder of the Agreement shall remain
in full force and effect without said provision. 
 10.5 Notices. All notices, requests and other communications
hereunder shall be in writing and shall be personally delivered or sent by telecopy or other electronic facsimile transmission or by registered or certified mail, return receipt requested, postage prepaid, in each case to the respective address
specified below, or such other address as may be specified in writing to the other parties hereto: 
 LICENSEE: 

 

			
	Attn: H. Perry Fell, CEO
	Company:	  	Seattle Genetics, Inc.
	Address:	  	22215 26th Avenue S.E. Suite 300
	Bothell,WA 98021
	Phone: 425-489-4990
	Facsimile:	  	425-489-4798

  
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 ICOS: 
  

			
	Legal Department
	ICOS Corporation
	22021 20th Avenue S.E.
	Bothell, WA 98021
	Phone: 425-485-1900
	Facsimile:	  	425-398-8950

 10.6 Independent
Contractors. Both parties are independent contractors under this Agreement. Nothing contained in this Agreement is intended nor is to be construed so as to constitute ICOS or LICENSEE as partners or joint venturers with respect to this
Agreement. Neither party shall have any express or implied right or authority to assume or create any obligations on behalf of or in the name of the other party or to bind the other party to any other contract, agreement, or undertaking with any
third party. 
 10.7 Compliance with Laws. In exercising their rights under this license, the parties shall fully comply
in all material respects with the requirements of any and all applicable laws, regulations, rules and orders of any governmental body having jurisdiction over the exercise of rights under this Agreement. LICENSEE shall be responsible, at its
expense, for making any required registrations or filings with respect to this Agreement and obtaining any necessary governmental approvals with respect hereto. 
 10.8 Use of Name. Neither party shall use the name or trademarks of the other party for any purpose, including, but not limited to, press releases without the prior written consent of such other
party (except as set forth in Section 6.4 above). 
 10.9 Further Actions. Each party agrees to execute, acknowledge
and deliver such further instruments, and do such other acts, as may be necessary and appropriate in order to carry out the purposes and intent of this Agreement. 
 10.10 Entire Agreement Amendment. This Agreement constitutes the entire and exclusive Agreement between the parties with respect to the subject matter hereof and supersedes and cancels all previous
discussions, agreements, commitments and writings in respect thereof. No amendment or addition to this Agreement shall be effective unless reduced to writing and executed by the authorized representatives of the parties. 

  
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 IN WITNESS WHEREOF, ICOS and LICENSEE have executed this Agreement in duplicate originals by
duly authorized officers. 
  

									
	ICOS CORPORATION	 		 	SEATTLE GENETICS, INC.
					
	By:	 	 /s/ Gary Wilcox
	 		 	By:	 	 /s/ H. Perry Fell

					
	Name:	 	 Gary Wilcox
	 		 	Name:	 	 H. Perry Fell

					
	Title:	 	 EVP, Operations
	 		 	Title:	 	 C.E.O.

					
	Date:	 	 10/16/00
	 		 	Date:	 	 10/16/00

  
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 EXHIBIT A 
 U.S. Patent Number: 5,888,809 attached hereto: CHEF-1 Promoter 
 Filed as follows: 

 

			
	117	  	granted 3/30/99
		
	117.PCT	  	published 11/5/98
		
	117.AU	  	Australia
		
	117.BR	  	Brazil
		
	117.CA	  	Canada
		
	117.CN	  	China
		
	117.CZ	  	Czech Republic
		
	117.EP	  	EPO — European Patent Office
		
	117.HK	  	Hong Kong
		
	117.HU	  	Hungary
		
	117.IL	  	Israel
		
	117.JP	  	Japan
		
	117.MX	  	Mexico
		
	117.NO	  	Norway
		
	117.PL	  	Poland
		
	117.RU	  	Russia
		
	117.SK	  	Slovakia

  
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 EXHIBIT B 

Materials provided under this Agreement 
  

	1.	Plasmid pDEF2 

  

	2.	Plasmid pDEF14 

  
 -13-First Amendment to Amended and Restated Loan and Security Agreement

 Exhibit 10.1 
 FIRST AMENDMENT 
 TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 This First Amendment to Amended and Restated Loan and Security Agreement (this
“Amendment”) is entered into this 22nd
day of November, 2010, by and among OXFORD FINANCE CORPORATION (“Oxford”), Oxford in its capacity as collateral agent on behalf of the Lenders (the “Collateral Agent”); SILICON VALLEY BANK (“SVB”);
GE BUSINESS FINANCIAL SERVICES INC. (“GEBFS”) (Oxford, SVB and GEBFS, each a “Lender” and collectively “Lenders”); and CADENCE PHARMACEUTICALS, INC., a Delaware corporation, whose address is 12481
High Bluff Drive, Suite 200, San Diego, California 92130 (“Borrower”). 

RECITALS 
 A. Collateral Agent, Lenders and Borrower have entered into that certain Amended and Restated Loan and Security Agreement dated as of June 18, 2010 (as the same may from time to time be
amended, modified, supplemented or restated, the “Loan Agreement”). 
 B. Lenders extended credit to
Borrower for the purposes permitted in the Loan Agreement. 
 C. Borrower has requested that Collateral Agent and Lenders
amend the Loan Agreement to (i) reduce the interest rate of the funding of the Secondary Growth Capital Advance (defined below) and (ii) make certain other revisions to the Loan Agreement as more fully set forth herein. 

D. Collateral Agent and Lenders have agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in
accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 

AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and
intending to be legally bound, the parties hereto agree as follows: 
 1. Definitions. Except as set forth herein,
capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement. 
 2.
Amendments to the Loan Agreement.  
 2.1 Section 2.1.1 (Growth Capital Loan Facility). Section 2.1.1(a) of
the Loan Agreement is amended and restated as follows: 
 (a) Availability. Subject to the terms and
conditions of this Agreement, Lenders agree, severally and not jointly, to make a Growth Capital Advance to Borrower on the Effective Date (the “Initial Growth Capital Advance”) in the aggregate amount of Twenty Million Dollars
($20,000,000) according to each Lender’s pro rata share of the Growth Capital Loan Commitment (based upon the respective Growth Capital Commitment Percentage of each Lender). Additionally, upon the Federal Drug Administration’s approval of
OFIRMEV, Lenders agree, severally and not jointly, to make additional Growth Capital Advances in an amount not to exceed Ten Million Dollars ($10,000,000) (the “Secondary Growth Capital Advance”) prior to the Growth Capital
Commitment Termination Date; provided, the aggregate Growth Capital Advances outstanding hereunder (including the Initial Growth Capital Advance) shall not exceed the Growth Capital Loan Commitment. When repaid, the Growth Capital Advances may not
be re-borrowed. Lenders’ obligation to lend hereunder shall terminate on the earlier of (i) the occurrence and continuance of an Event of Default, or (ii) the Growth Capital Commitment Termination Date. 

  
 1 

 2.2 Section 13.1 (Definitions). The defined term “Basic Rate” in
Section 13.1 of the Loan Agreement is amended and restated as follows: 
 “Basic Rate” is
(A) for the Initial Growth Capital Advance, the per annum rate of interest (based on a year of 360 days) equal to the greater of (i) 11.25% and (ii) the sum of (a) the one-month U.S. LIBOR rate reported in the Wall Street Journal
three (3) Business Days prior to the Initial Growth Capital Funding Date, plus (b) 10.98% and (B) for the Secondary Growth Capital Advance, the per annum rate of interest (based on a year of 360 days) equal to the greater of
(x) 10.08% and (y) the sum of (a) the one-month U.S. LIBOR rate reported in the Wall Street Journal three (3) Business Days prior to the Secondary Growth Capital Funding Date, plus (b) 9.83%. 

3. Representations and Warranties. To induce Collateral Agent and Lenders to enter into this Amendment, Borrower hereby represents
and warrants to Collateral Agent and Lenders as follows: 
 3.1 Immediately after giving effect to this Amendment
(a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which
case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing; 
 3.2
Borrower has received the Federal Drug Administration’s approval of OFIRMEV; 
 3.3 Borrower has the power and
due authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 3.4 The organizational documents of Borrower delivered to Collateral Agent on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and
continue to be in full force and effect; 
 3.5 The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person
binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

3.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and 
 3.7 This Amendment has been duly
executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium
or other similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 4.
Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations
between the parties about the subject matter of the Loan Documents merge into this Amendment and the Loan Documents. 

  
 2 

 5. Prior Agreement. The Loan Documents are hereby ratified and reaffirmed and shall
remain in full force and effect. This Amendment is not a novation and the terms and conditions of this Amendment shall be in addition to and supplemental to all terms and conditions set forth in the Loan Documents. In the event of any conflict or
inconsistency between this Amendment and the terms of such documents, the terms of this Amendment shall be controlling, but such document shall not otherwise be affected or the rights therein impaired. The amendments set forth in Section 2
above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term of condition of any Loan Document, or
(b) otherwise prejudice any right or remedy which Lenders or Collateral Agent may now have or may have in the future under or in connection with any Loan Document. 
 6. Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

7. Effectiveness. This Amendment shall be deemed effective (a) upon the due execution and delivery to Collateral Agent of
this Amendment by each party hereto, and (b) upon Collateral Agent’s receipt of all Lender Expenses incurred through the date of this Amendment. 
 8. Governing Law. This Amendment and the rights and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of California. 

Signature page follows. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto
have caused this Amendment to be duly executed and delivered as of the date first written above. 
  

			
	BORROWER:
	
	CADENCE PHARMACEUTICALS, INC.
		
	By	 	 /s/ William R. LaRue

	Name:	 	 William R. LaRue

	Title:	 	 SVP-CFO

	
	LENDERS:
	
	SILICON VALLEY BANK
		
	By	 	 /s/ R. Michael White

	Name:	 	 R. Michael White

	Title:	 	 SRM

	
	GE BUSINESS FINANCIAL SERVICES INC.
		
	By	 	 /s/ Peter Gibson

	Name:	 	 Peter Gibson

	Title:	 	 Duly Authorized Signatory

	
	OXFORD FINANCE CORPORATION, for itself and as Collateral Agent
		
	By	 	 /s/ John G. Henderson

	Name:	 	 John G. Henderson

	Title:	 	 Vice President & General Counsel

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