Document:

EX-10.11

 Exhibit 10.11 

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and
Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 LICENSE AGREEMENT 

THIS LICENSE AGREEMENT (the “Agreement”) is made and
entered into as of August 7th, 2012 (the “Effective Date”) by and between SCYNEXIS, INC., a Delaware corporation having its principal place of business
at 3501C Tricenter Boulevard, Durham, NC 27713 USA (“Licensor”), and Dechra Ltd of Dechra House, Jamage Industrial Estate, Talke Pits, Stoke-on-Trent, ST7 1XW, United Kingdom (“Licensee”). Licensor and
Licensee are sometimes referred to herein individually as a “Party” and collectively as the “Parties.” 

BACKGROUND 

A. Licensor is a biotechnology company that has expertise in the field of cyclosporin derivative human and animal therapeutics. 

B. Licensee is an international pharmaceutical business focused on the veterinary market with its key area of specialization being the
development and marketing of companion animal products. 
 C. Licensor desires to grant to Licensee, and Licensee desires to receive,
a license to develop and commercialize SCY-641, which is [*] (“SCY-641”) in the ophthalmic animal health field based on the terms and conditions set forth below. 

NOW THEREFORE, Licensor and Licensee agree as follows: 

 

	1.	DEFINITIONS 

 Capitalized terms used in this Agreement (other than the headings of the
Sections or Articles) shall have the following meaning set forth in this Article 1, or, if not listed in this Article 1, the meaning as designated in the text of this Agreement. 

1.1 “Affiliate” means, with respect to a particular Party, a person, corporation, partnership, or other entity that controls,
is controlled by or is under common control with such Party. For the purposes of the definition in this Section 1.1, the word “control” (including, with correlative meaning, the terms “controlled by” or “under the
common control with”) means the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity, whether by the ownership of at least fifty percent
(50%) of the voting stock of such entity, or by contract or otherwise. 
 1.2 “Compound” means SCY-641. 

1.3 “Control” or “Controlled” means, with respect to any material, particular item of Information or
intellectual property right, (i) that the Party owns and has the ability to grant to the other Party the license to such item provided for herein, without violating the terms of any 

 
agreement or other arrangement with any Third Party, and/or (ii) that the Party has a license to such item and has the ability to grant to the other Party the license to such item provided
for herein, without violating the terms of any agreement or other arrangement with any Third Party. 
 1.4 “Licensor
Know-How” means all information described in Exhibit 1.7 necessary or reasonably useful for the development, manufacture and/or commercialization of the Compound or Product in the Field in the Territory. 

1.5 “Licensor Patent Rights” means the Patents listed on Exhibit 1.7. 

1.6 “Field” means the animal health field. 

1.7 “First Commercial Sale” means for each Product on a country-by-country basis, the first commercial sale in such country
after regulatory approval of such Product in such country. 
 1.8 “GAAP” means the United States generally accepted
accounting principles, consistently applied. 
 1.9 “IAS-IFRS” means an integrated system of International Accounting
Standards and International Financial Reporting Standards, consistently applied. 
 1.10 “Information” means information,
material, results and data of any type whatsoever, in any tangible or intangible form whatsoever, including without limitation, databases, inventions, practices, methods, techniques, specifications, formulations, formulae, cell lines, cell media,
knowledge, know-how, skill, experience, manufacturing materials, financial data, test data including pharmacological, biological, chemical, biochemical, toxicological and clinical test data, analytical and quality control data, quality assurance
data, stability data, studies and procedures, and patent and other legal information or descriptions. 
 1.11 “Major
Country” means any of the following countries, and their respective territories and possessions: United States, United Kingdom, Germany, Italy, France and Spain. 

1.12 “Net Sales” means the gross amount invoiced or otherwise charged by Licensee or its Affiliates or sublicensees for the
sale of any Product to any Third Party, less the following deductions (calculated in accordance with GAAP or IAS-IFRS, as applicable) to the extent actually incurred or allowed in connection with such sale of such Product: (i) reasonable and
customary cash, trade and quantity discounts; (ii) allowances for returned or rejected Product or retroactive price reductions; (iii) sales, value-added (to the extent not otherwise refunded, credited or reimbursed) and other direct taxes
on the sale of Product (other than income taxes), if invoiced to the purchaser; (iv) chargebacks and corrections for overbilling; and (v) bad debt actually written-off during the applicable period. 

1.13 “Patents” means all: (i) United States patents, re-examinations, reissues, renewals, extensions and term
restorations, supplementary protection certificates, inventors’ certificates and foreign counterparts thereof; (ii) pending applications for United States patents, 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2. 

 
including provisional applications, continuations, continuations-in-part, continued prosecution, divisional and substitute applications; and (iii) foreign counterparts of the foregoing. 

1.14 “Product” means any product containing the Compound for use in the Field. 

1.15 “Regulatory Authority” means any governmental authority, including without limitation the United States Food and Drug
Administration or the European Medicines Agency, with responsibility for granting any licenses or approvals necessary for the clinical testing, marketing and sale of a Product in any country. 

1.16 “Territory” means the world. 

1.17 “Third Party” means any person or entity other than Licensor, Licensee or an Affiliate of Licensor or Licensee. 

1.18 “Valid Claim” means: (i) any claim in an issued Patent in Licensor Patent Rights that has not expired, been
canceled, been declared invalid, or been admitted to be invalid or unenforceable through reissue, disclaimer or otherwise; or (ii) a claim under a pending application for a Patent in Licensor Patent Rights that has not been abandoned, canceled,
withdrawn from consideration, or finally determined to be unallowable in a decision from which no appeal can be taken. For clarity, on a country-by-country basis, a Valid Claim shall include any patent claim that has been declared invalid (pending
appeal) if and to the extent that such invalidity does not prejudice enforceability of the relevant Patent in accordance with local laws of any such country. 
  

	2.	LICENSE AND OTHER RIGHTS 

2.1 License to Licensee. Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee and Licensee hereby
accepts: 
 2.1.1 an exclusive, royalty-bearing license (with the right to sublicense) under the Licensor Patent Rights to make and
have made (in compliance with Section 3.2), use, develop, sell, offer for sale and import Products in the Field in the Territory; and 

2.1.2 an exclusive, royalty-bearing license (with the right to sublicense), under the Licensor Know-Flow, to make and have made (in
compliance with Section 3.2), use, develop, sell, offer for sale and import Products in the Field in the Territory. 
 2.2 License
to Licensor. Subject to the terms and conditions of this Agreement, Licensee hereby grants to Licensor and Licensor hereby accepts, a non-exclusive, fully paid up license (with the right to sublicense) to receive and use all information, data
and regulatory documentation generated by Licensee and its Affiliates, agents and sub-licensees relating to the Compound and/or any Product for any purpose outside the Field. Licensee hereby grants to Licensor and Licensor hereby accepts, a
non-exclusive, fully paid up license (with the right to sublicense) to any improvements to the Licensor Patent Rights for any purpose outside the Field. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 3. 

 2.3 Retained Rights. Licensor retains all rights and interest in and to the Licensor
Patents, Compound and Product(s) outside the scope of the license granted to Licensee under Section 2.1, including the sub-licensable right to develop, manufacture and commercialize the Compound and/or any Product outside the Field or
Territory. Licensor also retains the right to use Licensor Know-How in the Field for research purposes. 
 2.4 Negative Covenants.
Licensee and its Affiliates shall not, and shall use commercially reasonable efforts to ensure that their sublicensees do not, practice or sublicense Licensor Patent Rights and/or Licensor Know-How outside the scope of the license granted in
Section 2.1. 
 2.5 No Additional Licenses. Except for the express license granted in this Article 2, neither Party shall be
granted any license (either express, implied or by estoppel to the Patents or Information Controlled by the other Party. 
 2.6
Additional Countries. Should Licensee wish to register the Product for sale in countries other than [*], then [*]. Should licensee wish to register the Product in [*] the parties shall [*]. 

 

	3.	TRANSFER OF KNOW-HOW; OTHER OBLIGATIONS 

3.1 Transfer of Licensor Know-How. Within [*] of the Effective Date, Licensor shall commence the disclosure and transfer to Licensee of
Licensor Know-How agreed upon by the Parties. 
 3.2 Product Supply. Should Licensee require the manufacture and supply of the
Compound for commercial or other purposes, Licensee shall notify Licensor. If Licensor indicates to Licensee that it is interested in manufacturing and supplying such Compound, the Parties will enter into good faith discussions for a corresponding
commercial agreement. If, after [*], the Parties are unable to come to an agreement on a commercial manufacture and supply arrangement, Licensee may enter into discussions with any bona fide Third Party, provided that [*]. 

3.3 Diligence. Licensee shall use commercially reasonable efforts to develop, obtain Regulatory Approval for, and commercialize the
Product in each Major Country. Such efforts shall be no less than those efforts an animal health company of the size of Licensee would make with respect to an animal health product of comparable commercial potential, stage of development, and
medical/scientific, technical and regulatory profile. Specifically, Licensee shall [*]. Any [*] shall be brought to the attention of Licensor and discussed at a meeting attended by senior executives of each Party. 

3.4 Regulatory and CMC Responsibilities. 

3.4.1 Regulatory. Licensee and/or its agents shall assume all responsibility for all correspondence and communication relating to the
Product with Regulatory Authorities. Licensee shall keep such records and make such reports as shall be reasonably necessary to 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 4. 

 
document communications to Regulatory Authorities in compliance with all applicable regulatory requirements. 

3.4.2 Adverse Event Reporting. Licensee shall be responsible for the adverse experience and safety reporting for the Product in the
Field in compliance with the requirements all applicable laws and regulations. 
 3.5 Exchange of Information. Licensee shall provide
Licensor with detailed quarterly written reports on the progress of Licensee’s efforts to develop and commercialize Products. Parties shall meet no less than [*] (in person or by teleconference) for an update on the progress of development
program. 
 3.6 Compliance with Laws. Licensee shall perform, and shall use commercially reasonable efforts to ensure that its
Affiliates, sublicensees and Third Party contractors perform, all development and commercialization activities for which it is responsible under this Agreement in good scientific and medical manner and in compliance with all applicable laws, rules
and regulations. 
  

	4.	FINANCIAL TERMS 

 4.1 Up-front Payment. Upon
execution of this Agreement, Licensee shall pay Licensor an up-front fee of £[*]. Such up-front fee shall be nonrefundable and noncreditable. Payment shall be made in accordance with Section 4.6 below. The bank account designated by
Licensor is as follows: 
  

			
	Bank:	  	[*]
	Account Name:	  	SCYNEXIS, Inc.
	Account No.:	  	[*]
	SWIFT ID:	  	[*]
	Routing/ABA No.:	  	[*]

 4.2 Milestone Payments. Licensee shall pay Licensor the amounts set forth below upon the first
occurrence of the events described below for any Product. Licensee shall notify Licensor in writing within [*] of the achievement of each such event. All milestone payments shall be nonrefundable and shall be paid by Licensee within [*] after the
occurrence of such event. The milestone payment for [*] shall be [*]. 
  

					
	 Milestone Event
	  	Amount	 
		
	 [*]
	  	£	[*]	  
		
	 [*]
	  	£	[*]	  

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 5. 

 4.3 Royalties. Licensee shall pay Licensor royalties equal to the percentages of the Net
Sales of all Products as described below: 
  

					
	 On total Net Sales of all Products up to US$ [*]
	  	 	[	*]% 
		
	 On the portion of total Net Sales of all Products exceeding US$ [*] and up to US$ [*]
	  	 	[	*]% 
		
	 On the portion of total Net Sales of all Net Products exceeding US$ [*]
	  	 	[	*]% 

 4.4 Licensee’s obligation to pay royalties shall last, on a Product-by-Product and country by
country basis, until [*]: (i) all Valid Claims in such country; and (ii) [*] after the First Commercial Sale of such Product in such country. It shall be understood that sales of Product by Licensee that are no longer royalty bearing under
this Section 4.4 shall not be included in total Net Sales of all Products under Section 4.3 above. 
 4.5 Reports. Within
[*] after the end of the calendar quarter in which the First Commercial Sale in any country occurs, and on each calendar quarter thereafter, Licensee shall send to Licensor a report of estimated Net Sales of Products in sufficient detail on a
country-by-country basis to permit Licensor to reasonably determine the amount of royalty payments accrued during such preceding quarter, including the number of Products sold, the gross sales and Net Sales of Products, the royalties payable (in
dollars), the method used to calculate the royalty, and the exchange rates used. Within [*] after the end of the calendar semester (i.e., the six (6) month period beginning January 1 and ending June 30, and the six (6) month
period beginning July 1 and ending December 31, as applicable) in which the First Commercial Sale in any country occurs, and on each calendar semester thereafter, Licensee shall send to Licensor: (i) a payment of all royalties owed to
Licensor for such semester; and (ii) a report of Net Sales of Products in sufficient detail on a country-by-country basis to permit confirmation of the accuracy of the royalty payment made, including the number of Products sold, the gross sales
and Net Sales of Products, the royalties payable (in dollars), the method used to calculate the royalty, and the exchange rates used. 

4.6 Payments. All references to “dollars” or “$” means the legal currency of the United States. All
references to “pounds” or “£” means the legal currency of the United Kingdom. All amounts due to Licensor by Licensee under this Agreement shall be paid in dollars by wire transfer in immediately available funds to
an account designated by Licensor. If any currency conversion shall be required in connection with any payment or accounting of costs and expenses under this Agreement, such conversion shall be made by using the average of the exchange rates for the
purchase of dollars as published in The Wall Street Journal, Eastern Edition, or a comparable publication, of the last business day of each of the three (3) months immediately preceding the date on which such payment is made. If
Licensee is prevented from paying Licensor any royalties in a given country because the local currency is blocked and cannot be removed from the country, then Licensee shall promptly pay Licensor in the local currency by deposit in a local bank
designated by Licensor, to the extent permitted by local law. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 6. 

 4.7 Withholding of Taxes. Licensee may withhold from payments due to Licensor amounts for
payment of any withholding tax that is required by law to be paid to any taxing authority with respect to such payments. Licensee shall provide to Licensor all relevant documents and correspondence, and shall also provide to Licensor any other
cooperation or assistance on a reasonable basis as may be necessary to enable Licensor to claim exemption from such withholding taxes and to receive a full refund of such withholding tax or claim a foreign tax credit. Licensee shall give proper
evidence from time to time as to the payment of such tax. Licensee may treat Licensor as a US resident person if it has provided a valid Form W-9 or equivalent or a signed statement concerning its permanent residence address and Taxpayer
Identification Number (“TIN”). 
 4.8 Late Payments. Any amounts not paid by Licensee when due under this Agreement
shall be subject to interest from and including the date payment is due through and including the date upon which Licensor has received payment at a rate equal to [*] the prime rate of interest quoted in the Money Rates section of The Wall Street
Journal, Eastern Edition, calculated daily on the basis of a 365-day year, or similar reputable data source, or, if lower, the highest rate permitted under applicable law. 

4.9 Records and Audit. During the term of this Agreement and for a period of [*] thereafter, Licensee shall keep complete and accurate
records pertaining to the development, manufacture, use, sale or other disposition of the Products, in sufficient detail to permit Licensor to confirm the accuracy of all payments due hereunder and compliance with the diligence obligations set forth
in this Agreement. Licensor shall have the right to cause an independent, certified public accountant reasonably acceptable to Licensee, to audit such records to confirm the accuracy of Licensee’s payments; provided, however, that such auditor
shall not disclose Licensee’s confidential information to Licensor, except to the extent such disclosure is necessary to verify the payments due under this Agreement. Licensor shall bear the full cost of such audit unless such audit discloses
an underpayment of more than [*] from the amounts previously paid for the audited period. In such case, Licensee shall bear the full cost of such audit. Licensee shall remit any underpayment identified by such audit (plus applicable interest) to
Licensor within [*] of the results of such audit. Reciprocally, if the audit discloses an overpayment from the amount of royalties previously paid by Licensee, Licensor shall remit any such overpaid amount (plus applicable interest) to Licensee
within [*] of the results of such audit. The terms of this Section 4.8 shall survive any termination or expiration of this Agreement for a period of [*]. 

4.10 Separate Agreement. On the Effective Date, the Parties shall enter into a separate agreement (the “cGMP Product
Agreement”) whereby Licensee will contract with Licensor for Licensor to develop a route to the Compound prepared to clinical Good Manufacturing Product standard (“cGMP Product”) and to supply Licensee with cGMP Product for
use in the clinical development program. 
 4.11 [*]. In the event that Licensor enters into a transaction granting a third party
rights to develop and commercialize the Compound in the human health field (a “Human Health Transaction”), Licensor shall [*] to [*] of [*] under the [*]. 
  

	5.	CONFIDENTIALITY 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 7. 

 5.1 Nondisclosure of Confidential Information. For all purposes hereunder,
“Confidential Information” shall mean all Information disclosed by one Party to the other Party pursuant to this Agreement. During the term of this Agreement and for a period of [*] thereafter, a Party receiving such item of Confidential
Information of the other Party will (i) maintain in confidence such item of Confidential Information and not disclose such item of Confidential Information to any Third Party without prior written consent of the other Party, except for
disclosures made in confidence to any Third Party under terms consistent with this Agreement and made in furtherance of this Agreement or of rights granted to a Party hereunder, and (ii) not use the other Party’s Confidential Information
for any purpose except those permitted by this Agreement. 
 5.2 Exceptions. The obligations in Section 5.1 shall not apply with
respect to any portion of the Confidential Information that the receiving Party can show by competent written proof: 
 (a) Is
publicly disclosed by the disclosing Party, either before or after it is disclosed to the receiving Party hereunder; 
 (b) Was
known to the receiving Party or any of its Affiliates, without obligation to keep it confidential, prior to disclosure by the disclosing Party; 

(c) Is subsequently disclosed to the receiving Party or any of its Affiliates by a Third Party lawfully in possession thereof and
without obligation to keep it confidential; 
 (d) Is published by a Third Party or otherwise becomes publicly available or enters
the public domain, either before or after it is disclosed to the receiving Party; or 
 (e) Has been independently developed by
employees or contractors of the receiving Party or any of its Affiliates without the aid, application or use of Confidential Information of the disclosing Party. 

5.3 Authorized Disclosure. Each Party may disclose the Confidential Information belonging to the other Party to the extent such
disclosure is reasonably necessary in the following instances: 
 (a) Filing or prosecuting patents relating to Products; 

(b) Regulatory filings; 

(c) Prosecuting or defending litigation; 

(d) Complying with applicable governmental regulations; and 

(e) Disclosure, in connection with the performance of this Agreement, to Affiliates, sublicensees, research collaborators, employees,
consultants, or agents, each of 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 8. 

 
whom prior to disclosure must be bound by similar obligations of confidentiality and non-use at least equivalent in scope to those set forth in this Article 5. 

The Parties acknowledge that the terms of this Agreement shall be treated as Confidential Information of both Parties. Such terms may be disclosed by a Party
to investment bankers, investors, and potential investors (and by Licensee to potential sub-licensees and distributors), each of whom prior to disclosure must be bound by obligations of confidentiality and non-use at least equivalent in scope to
those set forth in this Article 5. In addition, a copy of this Agreement may be filed, furnished or submitted to the Securities and Exchange Commission by Licensor. In connection with any such filing, Licensor shall endeavor to obtain confidential
treatment of economic and trade secret information and shall deliver to Licensee in advance of any filing a redacted copy of this Agreement to enable Licensee to give comments and suggestions on economic and trade secret information to be kept
confidential. 
 In any event, the Parties agree to take all reasonable action to avoid disclosure of Confidential Information except as permitted
hereunder. 
 5.4 Press Releases. Each Party shall be entitled to issue a press release, as approved by both Parties and attached
hereto as Exhibit 5.4, upon the execution of this Agreement. If either Party desires to make any subsequent public announcement (e.g. press release) concerning the terms of this Agreement or the activities hereunder, such Party shall give reasonable
advance notice of the proposed text of such announcement to the other Party for its review and approval prior to announcement, such approval shall not be unreasonably delayed or withheld. Such other Party shall provide its comments, if any, within
[*] after receipt of the proposed text and the Party making such announcement shall consider and address all such comments in good faith. Notwithstanding anything to the contrary, such approval shall not be needed if such public announcement:
(i) is required pursuant to the disclosure requirements of the U.S. Securities and Exchange Commission or the national securities exchange or other stock market on which such Party’s securities are traded, provided however that in this
case the proposed text of the announcement shall be disclosed in advance to the other Party for information and comments; or (ii) solely discloses information that has previously been approved for disclosure by the other Party. 

 

	6.	INTELLECTUAL PROPERTY 

 6.1 Ownership of Inventions.
Each Party shall own any inventions made solely by its employees, agents or independent contractors in their activities hereunder. Inventions hereunder made jointly by employees, agents or independent contractors of each Party in the course of
performing under this Agreement shall be owned jointly by the Parties in accordance with the joint ownership interests of co-inventors under U.S. patent laws. Inventorship shall be determined in accordance with U.S. patent laws. Licensor grants
Licensee a first right of refusal to an exclusive license in the Field to any inventions made in the course of the Agreement. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 9. 

 6.2 Patent Prosecution, Maintenance and Enforcement. 

6.2.1 Patent Prosecution and Maintenance. Licensor will prosecute and maintain the Licensor Patent Rights, including conducting any
interferences, reexaminations, reissues, oppositions, or request for patent term extension relating thereto. Licensor shall provide Licensee with a revised Exhibit 1.7 updating the status of the Licensor Patent Rights on an annual basis or more
frequently if requested by Licensee (but in no event more than quarterly). 
 6.2.2 Enforcement of Patent Rights by Licensor. If
either Party becomes aware of a suspected infringement of Licensor Patent Rights in the Field, such Party shall notify the other Party promptly, and following such notification, the Parties shall confer. Licensor shall have the first right, but
shall not be obligated, to take any actions or bring any proceedings regarding the infringement at its own expense, in its own name, and entirely under its own direction and control. Licensee will reasonably assist Licensor (at Licensor’
expense) in such actions or proceedings if so requested, and will lend its name to such actions or proceedings if required by law. Licensee shall have the right to participate and be represented in any such proceeding by its own counsel at its own
expense, in which case it shall be entitled to receive reimbursement for such expenses from any recovery from such proceeding and shall be entitled to share the net recovery (after both Parties’ reimbursement of proceeding-associated expenses)
with Licensor [*]. No settlement of any such action or proceeding that restricts the scope or affects the enforceability of Licensor Patent Rights may be entered into by Licensor without the prior consent of Licensee, which consent shall not be
unreasonably withheld. 
 6.2.3 Enforcement of Patent Rights by Licensee. If Licensor fails to take any action or bring any
proceeding regarding infringement pursuant to Section 6.2.2 within [*] of the provision or receipt of notice of suspected infringement, then Licensee may take such action or bring such proceeding at its own expense, in its own name, and
entirely under its own direction and control. Licensor will reasonably assist Licensee (at Licensee’s expense) in any action or proceeding being prosecuted or defended by Licensee, if so requested by Licensee or required by law in order for
Licensee to bring such action, including but not limited to executing any necessary documents such as any necessary power of attorney and including, if required, being joined as a necessary party. Licensor shall have the right to participate and be
represented in any such proceeding by its own counsel at its own expense, in which case it shall be entitled to receive reimbursement for such expenses from any recovery from such proceeding and shall be entitled to share the net recovery (after
both Parties’ reimbursement of proceeding-associated expenses) with Licensee [*]. No settlement of any such action or proceeding that restricts the scope or affects the enforceability of Licensor Patent Rights may be entered into by Licensee
without the prior consent of Licensor, which consent shall not be unreasonably withheld. 
 6.3 Third Party Infringement Claims. If
an allegation is made or claim is brought by a Third Party that any activity related to a Product infringes the intellectual property rights of such Third Party, each Party will give prompt written notice to the other Party of such claim. The
Parties shall fully cooperate to defend against such allegation or claim, each bearing its own expenses. Neither Party shall enter into any settlement of any claim described in this Section 6.3 that affects the other Party’s rights or
interests without such other Party’s written consent, which 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 10. 

 
consent shall not be unreasonably withheld or delayed. If a Party is entitled to indemnification pursuant to Article 8 with respect to a claim described in this Section 6.3, it shall follow
the procedures set forth in Article 8 if it wishes to obtain such indemnification. The royalties to be paid to Licensor in the country or countries involved shall continue to be paid to Licensor unless sale of the Products in said country or
countries is prevented as a result of the Third Party claim. If necessary in order to avoid infringement of said Third Party intellectual property rights, Licensee and Licensor shall attempt to obtain a license for Licensee under the Third
Party’s intellectual property rights. Royalties to be paid by Licensee to Licensor hereunder shall continue to be payable in accordance with the terms and conditions of this Agreement and any royalties on sales of the Products payable to the
Third Party under said license shall be paid by Licensee. Licensee may offset [*] of all payments paid to all Third Parties under this Section 6.3 against the royalties that Licensee pays to Licensor under Section 4.3.1, but in no event
shall such offset reduce the royalties owed to Licensor under Section 4.3.1 by more than [*] of the amount otherwise owed without such offset. 

6.4 Patent Terms Extensions. The Parties shall co-operate in filing for and obtaining patent extensions and supplementary or
complementary protection certificates, if available, of the Licensor Patent Rights, and Licensor shall have the final decision making authority on such matters. 
  

	7.	REPRESENTATIONS AND WARRANTIES 

 7.1
Mutual Warranties. Each Party represents and warrants to the other Party that: (i) it has the authority and right to enter into and perform this Agreement; (ii) this Agreement is a legal and valid obligation binding upon it and is
enforceable in accordance with its terms, subject to applicable limitations on such enforcement based on bankruptcy laws and other debtors’ rights; and (iii) its execution, delivery and performance of this Agreement will not conflict in
any material fashion with the terms of any other agreement or instrument to which it is or becomes a party or by which it is or becomes bound, nor violate any law or regulation of any court, governmental body or administrative or other agency having
authority over it. 
 7.2 Licensor Warranties. Licensor represents and warrants to Licensee that: 

7.2.1 As of the Effective Date, Licensor has the full right and power to grant the license set forth in Section 2.1 in the manner,
for the duration of and to the extent set forth in this Agreement, free and clear of any adverse assignment, grant or other encumbrances inconsistent with such grant; 

7.2.2 As of the Effective Date, Licensor has not received any written notice or other written communication alleging that the making or
using of the Compound infringes or misappropriates the intellectual property rights of a Third Party. 
 7.3 No Additional
Representations. EXCEPT AS EXPRESSLY SET FORTH IN THE REPRESENTATIONS AND WARRANTIES
SET FORTH IN SECTIONS 7.1 AND 7.2 OF THIS AGREEMENT, THERE ARE NO
REPRESENTATIONS OR WARRANTIES BY LICENSOR OF ANY KIND, EXPRESS OR IMPLIED,
WITH RESPECT TO THE COMPOUND, PRODUCTS OR THE MANUFACTURE 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 11. 

 
OR USE OF COMPOUND OR PRODUCTS (INCLUDING WITHOUT
LIMITATION ITS RESEARCH, DEVELOPMENT (INCLUDING CLINICAL TRIALS) OR COMMERCIALIZATION) INCLUDING
WITHOUT LIMITATION ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR OF
FITNESS FOR A PARTICULAR PURPOSE OR USE OF COMPOUND OR ANY PRODUCT
OR ANY REPRESENTATIONS OR WARRANTIES WITH RESPECT TO INFRINGEMENT OF THIRD
PARTY INTELLECTUAL PROPERTY RIGHTS. 
  

	8.	INDEMNIFICATION 

 8.1 Licensor. Licensor shall indemnify, defend
and hold harmless Licensee, its Affiliates, and their respective directors, officers and employees (each a “Licensee Indemnitee”) from and against any and all liabilities, damages, losses, costs or expenses (including
attorneys’ and professional fees and other expenses of litigation and/or arbitration) (“Liabilities”) resulting from any claim, suit or proceeding made or brought by a Third Party against a Licensee Indemnitee to the extent
arising from or occurring as a result of: (i) any breach by Licensor of the representations and warranties set forth in Section 7.1 or 7.2; and/or (ii) any negligent or wrongful act or omission hereunder by Licensor and/or any breach
by Licensor of any of its obligations hereunder, except in each case to the extent that (1) any such Liability was due to the negligence or willful misconduct of a Licensee Indemnitee or (2) Licensee has an obligation under
Section 8.2 to indemnify Licensor for such Liabilities. 
 8.2 Licensee. Licensee shall indemnify, defend and hold harmless
Licensor, its Affiliates, and their respective directors, officers and employees (each an “Licensor Indemnitee”) from and against any and all Liabilities resulting from any claim, suit or proceeding made or brought by a Third Party
against an Licensor Indemnitee to the extent arising from or occurring as a result of: (i) any breach by Licensee of the representations and warranties set forth in Section 7.1; (ii) any use, manufacture, development, distribution,
storage, handling, promotion, marketing and sale of the Product(s) by or for Licensee or its Affiliates or sublicensees In the Field; (iii) the use of any Products by any person or entity; and/or (iv) any negligent or wrongful act or
omission hereunder by Licensee and/or any breach by Licensee of any of its obligations hereunder, except in each case to the extent that (I) any such Liability was due to the negligence or willful misconduct of an Licensor Indemnitee or
(2) Licensor has an obligation under Section 8.1 to indemnify Licensee for such Liabilities. 
 8.3 Procedure. A Party
seeking indemnification hereunder (an “Indemnitee”) shall promptly notify the other Party (the “Indemnitor”) in writing of such alleged Liability. The Indemnitor shall have the sole right to control the defense and
settlement thereof. The Indemnitee shall cooperate with the Indemnitor and its legal representatives in the investigation of any action, claim or liability covered by this Article 8. The Indemnitee shall not, except at its own cost and risk,
voluntarily make any payment or incur any expense with respect to any claim or suit without the prior written consent of the Indemnitor, which the Indemnitor shall not be required to give. The Indemnitor shall not be required to provide
indemnification with respect to a Liability the defense of which is actually prejudiced by the failure to give notice by the Indemnitee or the failure of the Indemnitee to cooperate with the Indemnitor or where the Indemnitee settles or compromises
a Liability without the written consent of the Indemnitor. Each Party shall cooperate with the other Party in resolving any claim or Liability with respect to 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 12. 

 
which one Party is obligated to indemnify the other under this Agreement, including without limitation, by making commercially reasonable efforts to mitigate or resolve any such claim or
Liability. 
 8.4 Limitations on Liability. 

8.4.1 NOTWITHSTANDING ANY PROVISION HEREIN, A
PARTY SHALL IN NO EVENT BE LIABLE TO THE OTHER PARTY OR
ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, STOCKHOLDERS, AGENTS OR REPRESENTATIVES FOR
ANY INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING, BUT NOT LIMITED TO,
LOST PROFITS, LOSS OF USE, DAMAGE TO GOODWILL OR LOSS OF BUSINESS),
UNLESS SUCH DAMAGES: (I) ARE OWED UNDER THE LIABLE PARTY’S
INDEMNIFICATION OBLIGATIONS UNDER ARTICLE 8; (II) ARE DUE TO THE LIABLE
PARTY’S BREACH OF ARTICLE 5; OR (III) ARE DUE TO THE GROSS
NEGLIGENCE OR WILLFUL MISCONDUCT OF THE LIABLE PARTY. 
  

	9.	TERM AND TERMINATION 

 9.1 Term.
Subject to the provisions below in this Section 9, the term of this Agreement shall commence on the Effective Date and continue on a country-by-country basis until the expiration of all Licensee’s royalties payment obligations under this
Agreement, unless earlier terminated pursuant to Section 9.2 or 9.3. On such expiration, Licensee’s license under Section 2.1 with respect to Licensor Know-How shall survive as a non-exclusive, fully-paid and royalty-free license.

 9.2 Material Breach. If any Party has breached any of its material obligations hereunder, and such breach has continued for [*]
after written notice thereof was provided to the breaching Party by the non-breaching Party, the non-breaching Party may terminate this Agreement. Any termination shall become effective at the end of such [*] period unless the breaching Party has
cured any such breach prior to the expiration of the [*] period. 
 9.3 Relinquishment by Licensee. Licensee may relinquish all the
rights and the license granted to it under this Agreement and thereby terminate this Agreement, at any time, by giving Licensor written notice of its desire to do so at least [*] prior to the date on which the rights and the license are desired to
be terminated. Such termination shall be conditional upon Licensee informing Licensor in writing, together with the notice of termination, that, in Licensee’s reasonable business judgment based on scientific or economic evidence, it is
impossible for Licensee to carry out further development or marketing of the Product in the Territory. 
 9.4 Effect of Termination or
Expiration. Termination or expiration of this Agreement for any reason shall not release either Party hereto from any liability which, at the time of such termination or expiration, has already accrued to the other Party or which is attributable
to a period prior to such termination or expiration or 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, or default under, this Agreement. It is understood and
agreed that monetary damages 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 13. 

 
may not be a sufficient remedy for any breach of this Agreement and that the non-breaching Party may be entitled to specific performance as a partial remedy for any such breach. 

9.4.1 Effects of Certain Terminations Attributable to Licensee. 

(a) If this Agreement is terminated by Licensor pursuant to Section 9.2 for Licensee’s failure to pay any of the amounts
owed to Licensor tinder Article 4, then Licensor may pursue all remedies available to it under law or equity, and Licensee shall transfer and assign to Licensor all Information in its possession relating to the Product, and all regulatory filings
(including any regulatory approvals) in Licensee’s name, agreements with Third Parties, trademark and other intellectual property rights, and supplies of Product (including any intermediates, retained samples and reference standards) that in
each case are in its Control and that relate to the Product. Any such transfer and assignment by Licensee to Licensor shall be free of charge to Licensor (except for administrative costs and fees connected with the transfer of trademarks and other
intellectual property rights, which shall be borne by Licensor). 
 (b) If this Agreement is terminated by Licensee pursuant to
Section 9.3, then: (i) Licensee shall transfer and assign to Licensor all Information in its possession relating to the Product, and all of the regulatory filings (including any regulatory approvals) in Licensee’s name, agreements
with Third Parties, trademark and other intellectual property rights, and supplies of Product (including any intermediates, retained samples and reference standards) that in each case are in its Control and that relate to the Product;
(ii) Licensor shall notify Licensee in writing if, in Licensor’ reasonable business judgment, Licensor desires to continue the development and/or commercialization of the Product, in which case Licensee’s sublicensees’ rights on
the Product shall survive termination hereof and shall be varied into a direct grant from Licensor (but only if such sublicensee is not in breach of its existing agreement with Licensee), being however understood that the relations between each said
sub-licensee and Licensor shall, in Licensor’ sole discretion, be regulated either by the agreement in force between Licensee and the sublicensee, which in such case would be assigned to Licensor, or by any other contract which Licensor and the
sublicensee may deem appropriate. Any transfer and assignment by Licensee to Licensor under Section 9.4.1(b)(i) shall be free of charge to Licensor (except for administrative costs and fees connected with the transfer of trademarks and other
intellectual property rights, which shall be borne by Licensor). Notwithstanding anything to the contrary, Licensor shall have no obligation (either under Section 9.4.1(b)(ii) or otherwise under this Agreement) to be transferred or assigned any
agreements from, or enter into any relations with, any of Licensee’s sublicensees who are in breach of their agreements with Licensee at the time of Licensee’s termination of this Agreement. 

9.4.2 Effects of other termination. In the event of any termination that is not described in Section 9.4.1, the applicable Party
may pursue all remedies available to such Party under law or equity pursuant to Sections 10.3 or 10.4, as applicable. 
 9.5
Survival. The following provisions of this Agreement shall survive expiration or termination of this Agreement for any reason: [To be completed.] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 14. 

 9.6 Rights in Bankruptcy. All rights and the license granted under or pursuant to this
Agreement by Licensor are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101 of the United States
Bankruptcy Code. The Parties agree that Licensee, as licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the United States Bankruptcy Code. The Parties further agree that, in the
event of the commencement of a bankruptcy proceeding by or against Licensor under the United States Bankruptcy Code, Licensee shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all
embodiments of such intellectual property, which, if not already in Licensee’s possession, shall be promptly delivered to it: (a) upon any such commencement of a bankruptcy proceeding upon Licensee’s written request therefor, unless
Licensor continues to perform all of its obligations under this Agreement; or (b) if not delivered under Section 9.6(a) above, following the rejection of this Agreement by or on behalf of Licensor upon written request therefor by Licensee.

  

	10.	MISCELLANEOUS 

 10.1 Complete Agreement; Modification. This
Agreement constitutes the entire agreement, both written and oral, between the Parties with respect to the subject matter hereof, and all prior agreements respecting the subject matter hereof, either written or oral, expressed or implied, are
superseded hereby, merged and canceled, and are null and void and of no effect. No amendment or change hereof or addition hereto shall be effective or binding on either of the Parties hereto unless reduced to writing and duly executed on behalf of
both Parties. 
 10.2 Governing Law. Resolution of all disputes arising out of or related to this Agreement or the performance,
enforcement, breach or termination of this Agreement and any remedies relating thereto, shall be governed by and construed under the substantive laws of the State of North Carolina, without regard to conflicts of law rules requiring the application
of different law. 
 10.3 Dispute Resolution. Subject to Section 10.4, in the event of any dispute, controversy or claim between
the Parties relating to or arising out of this Agreement (a “Dispute”), either Party may refer such Dispute to the Chief Executive Officers of, or such other senior executive officers designated by, each respective Party for
resolution. If such senior executive officers fail to reach a resolution within [*] of such referral, or such other period as the Parties may agree, then such Dispute shall be decided by arbitration to be conducted in New York City in accordance
with the International Rules of the American Arbitration Association for Commercial Arbitration in effect at the time the Dispute arises, unless the Parties mutually agree otherwise. Each Party shall be responsible for its own costs (including,
without limitation, reasonable attorneys’ fees) and expenses in connection with any arbitration proceeding under this Section 10.3. 

10.4 Patents. Any dispute, controversy or claim relating to the scope, validity, enforceability or infringement of any Licensor Patent
Rights covering the manufacture, use or sale of any Products shall be submitted to a court of competent jurisdiction in the territory in which such Patent or trademark rights were granted or arose. 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 15. 

 10.5 Performance by Affiliates/Subcontractors. Each Party acknowledges that its
obligations under this Agreement may be performed by its respective Affiliates or subcontractors. Notwithstanding any delegation of obligations under this Agreement by a Party to an Affiliate or subcontractor, each Party shall remain primarily
liable and responsible for the performance of all of its obligations under this Agreement and for causing its Affiliates and/or subcontractors to act in a manner consistent herewith. Wherever in this Agreement the Parties delegate responsibility to
Affiliates, subcontractors or local operating entities, the Parties agree that such entities shall not make decisions inconsistent with this Agreement, amend the terms of this Agreement or act contrary to its terms in any way. 

10.6 Consents Not Unreasonably Withheld or Delayed. Whenever provision is made in this Agreement for either Party to secure the consent
or approval of the other, that consent or approval shall not unreasonably be withheld or delayed, and whenever in this Agreement provisions are made for one Party to object to or disapprove a matter, such objection or disapproval shall not
unreasonably be exercised. 
 10.7 Maintenance of Records. Each Party shall keep and maintain all records required by law or
regulation with respect to Products and shall make copies of such records available to the other Party upon request. 
 10.8 Independent
Contractors. The relationship of the Parties hereto is that of independent contractors. The Parties hereto are not deemed to be agents, partners or joint venturers of the others for any purpose as a result of this Agreement or the transactions
contemplated thereby. At no time shall any Party make commitments or incur any charges or expenses for or in the name of the other Party. 

10.9 Assignment. Neither Party may assign or transfer this Agreement or any rights or obligations hereunder without the prior written
consent of the other, except a Party may make such an assignment without the other Party’s consent to an Affiliate or to a successor to substantially all of the business of such Party to which this Agreement relates, whether in a merger, sale
of stock, sale of assets or other transaction; provided, that any such permitted successor or assignee of rights and/or obligations hereunder shall, in a writing to the other Party, expressly assume performance of such rights and/or obligations. Any
permitted assignment shall be binding on the successors of the assigning Party. Any assignment or attempted assignment by either Party in violation of the terms of this Section 10.9 shall be null and void and of no legal effect. In the event
that Licensee is acquired by a company (a “Competitor Company”) selling a competitive cyclosporine product in the Field (a “Competitive Product”) then within [*] of the acquisition of Licensee by the Competitor
Company, the Parties shall meet to [*]. If within a further [*] of such meeting, the Licensee is unable to [*], then Licensee shall either: (a) immediately relinquish all the rights and the license granted to it under this Agreement; or
(b) commit to divest the Competitive Product within a further [*] period. 
 10.10 Notices. Any notices given under this
Agreement shall be in writing, addressed to the Parties at the following addresses, and delivered by person, by facsimile, or by FedEx or other reputable international courier service. Any such notice shall he deemed to have been

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 16. 

 
given as of the day of personal delivery, one (1) day after the date sent by facsimile service or on the day of successful delivery to the other Party confirmed by the courier service. 

 

			
	For Licensor:	  	SCYNEXIS, Inc.
		  	3501 C Tricenter Boulevard
		  	Durham, NC 27713
		  	USA
		  	Phone: 1 919 544 8600
		  	Fax: 1 919 544 8697
		
	For Licensee:	  	Dechra Ltd
		  	Dechra House
		  	Jamage Industrial Estate
		  	Talke Pits, Stoke-on-Trent
		  	ST7 1XW, United Kingdom
		  	Phone: 0044 (0)1782 771100
		  	Fax: 0044 (0)1782 773366

 10.11 Force Majeure. Each Patty shall be excused from the performance of its obligations (other than
payment obligations) under this Agreement to the extent that such performance is prevented by force majeure and the nonperforming Party promptly provides notice of the prevention to the other Party. Such excuse shall be continued so long as the
condition constituting force majeure continues and the nonperforming Party takes reasonable efforts to remove the condition. For purposes of this Agreement, force majeure shall include conditions beyond the control of the Parties, including without
limitation, an act of God, voluntary or involuntary compliance with any regulation, law or order of any government, war, act of terrorism, civil commotion, labor strike or lock-out, epidemic, failure or default of public utilities or common
carriers, destruction of production facilities or materials by fire, earthquake, storm or like catastrophe; provided, however, the payment of invoices due and owing hereunder shall not be delayed by the payer because of a force majeure affecting the
payer. 
 10.12 Further Assurances. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all
such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 
 10.13
Severability. In the event that any provision of this Agreement is 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 to any
possible extent. In such event, the Parties shall in good faith negotiate a substitute clause for any provision declared invalid or unenforceable, which shall most nearly approximate the intent of the Parties in entering this Agreement. 

10.14 Waiver. The failure of a Party to insist upon strict performance of any provision of this Agreement or to exercise any right
arising out of this Agreement shall neither impair that provision or right nor constitute a waiver of that provision or right, in whole or in part, in that instance or in any other instance. Any waiver by a Party of a particular provision or right
shall 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 17. 

 
be in writing, shall be as to a particular matter and, if applicable, for a particular period of time and shall be signed by such Party. 

10.15 Use of Name. Except as required by law, neither Party shall use the name or trademarks of the other Party for any advertising or
promotional purposes without the prior written consent of such other Party. 
 10.16 Construction of the Agreement. Except where the
context otherwise requires, wherever used, the singular will include the plural, the plural the singular, the use of any gender will be applicable to all genders, and the word “or” are used in the inclusive sense. When used in this
Agreement, “including” means “including, without limitation,.” References to either Party include the successors and permitted assigns of that Party. The headings of this Agreement are for convenience of reference only and in no
way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained in this Agreement. The Parties have each consulted counsel of their choice regarding this Agreement, and, accordingly, no provisions
of this Agreement will be construed against either Party on the basis that the Party drafted this Agreement or any provision thereof. If the terms of this Agreement conflict with the terms of any Exhibit, then the terms of this Agreement shall
govern. The official text of this Agreement and any Exhibits hereto, any notice given or accounts or statements required by this Agreement, and any dispute proceeding related to or arising hereunder, shall be in English. In the event of any dispute
concerning the construction or meaning of this Agreement, reference shall be made only to this Agreement as written in English and not to any other translation into any other language. 

10.17 Insurance. Each Party agrees to procure and maintain, in full force and effect during the term of this Agreement, insurance from
insurers of recognized financial responsibility, against such losses and risks and in such amounts which, in such Party’s reasonable judgment, are prudent and customary in the business in which it is engaged. Each Party shall promptly supply
the other Party, upon the other Party written request, with a copy of the certificate of insurance evidencing said coverage. 
 10.18
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be an original and all of which shall constitute together the same document. Counterparts may be signed and delivered by facsimile, each of
which shall be binding when sent. 
 [Signature Page Follows] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 18. 

 IN WITNESS WHEREOF, Licensor
and Licensee have executed this Agreement by their respective duly authorized representatives as of the Effective Date. 
  

									
	SCYNEXIS, INC.	 		 	Dechra Ltd
					
	By:	 	 /s/ Yves Ribeill
	 		 	By:	 	 /s/ Ian Page

					
	Name:	 	 Yves Ribeill
	 		 	Name:	 	 Ian Page

					
	Title:	 	 Chief Executive Officer
	 		 	Title:	 	 Chief Executive Officer

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 19. 

 EXHIBIT 1.7 

Licensor Patents 
  

									
	 Ref
	  	 Country
	  	 Application No.
	  	 Publication No.
	  	 Grant No.

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

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 1. 

 EXHIBIT 1.7 

Licensor Know-How 
 [*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 1. 

 Exhibit 5.4 

Press Release 
 [NOTE:
THE PARTIES TO PROVIDE DRAFT PRESS RELEASE.] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 1. 

 EXHIBIT 1.8 

[*] 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 1. 

 FIRST AMENDMENT TO LICENSE AGREEMENT 

This FIRST AMENDMENT TO LICENSE AGREEMENT (“First Amendment”) is made and entered into as of the
15th day of November, 2013 (the “Effective Date”) by and between SCYNEXIS, Inc., a Delaware corporation having its principal place of business at 3501C Tricenter Boulevard, Durham, NC
27713 USA (“Licensor”), and Dechra Ltd of Dechra House, Jamage Industrial Estate, Talke Pits, Stoke-on-Trent, ST7, 1XW, United Kingdom (“Licensee”). Licensor and Licensee are sometimes referred to herein individually as a
“Party” and collectively as the “Parties.’ 
 BACKGROUND 

A. Pursuant to a License Agreement dated August 7, 2013 (the “License Agreement”) Licensor granted a license to develop and
commercialize SCY-641 in the ophthalmic animal health field. 
 B. Licensor and Licensee have, or will, execute a Proposal for Work, whereby
Licensor will perform certain [*] services for a estimated cost to Licensee of $[*] (the “[*] Services Fee”). 
 C. Licensor and
Licensee are intending to execute a Proposal for Work whereby Licensor will perform such [*] services [*] to [*], and in connection therewith will [*]. Upon payment by Licensee to Licensor of a fee [*] (the “[*] Fee”) Licensor shall
provide to Licensee [*] up to [*] (but excluding [*]). 
 D. The Parties desire to amend the License Agreement, subject to the terms and
conditions of this First Amendment, [*] the royalties [*] the [*] and the [*]. 
 NOW, THEREFORE, in consideration of the foregoing, and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: 
 1. Section 4.3 is hereby
deleted in its entirety and the following is substituted in lieu thereof: 
 4.3 Royalties. Licensee shall pay Licensor royalties equal to the percentages
of Net Sales of all Products as described below: 
  

							
	 Tier
No.
	  	 Net Sales Tiers
	  	Royalty Rate	 
			
	1	  	 On total Net Sales of all Products in each calendar year up to US$[*]
	  	 	[*]	% 
			
	2	  	 On the portion of all Net Sales of all Products in each calendar year exceeding US$[*] and up to US$[*]
	  	 	[*]	% 
			
	3	  	 On the portion of all Net Sales of all Products in each calendar
	  	 	[*]	% 

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 1. 

					
	 Tier
No.
	  	 Net Sales Tiers
	  	Royalty Rate
			
		  	year in excess of $US[*]	  	

 Provided however, notwithstanding the foregoing, the royalty rate payable pursuant to [*] shall [*] until the [*] in such
royalty rate shall [*], whereupon the [*] royalty rate shall [*]. 
 2. Capitalized terms used herein but not defined shall have the meanings given to them
in the License Agreement. 
 3. Except as amended and/or modified by this First Amendment, the License Agreement is hereby ratified and confirmed and all
other terms of the License Agreement shall remain in full force and effect. 
 IN WITNESS WHEREOF, the Licensor and Licensee have executed this First
Amendment as of the Effective Date set forth above. 
  

									
	SCYNEXIS, Inc.	 		 	DECHRA LTD.
					
	By:	 	 /s/ Yves Ribiell
	 		 	By:	 	 /s/ Ann-Francoise Westler

					
	Name:	 	 Yves Ribiell
	 		 	Name:	 	 Anne-Francoise Westler

					
	Title:	 	  
	 		 	Title:	 	 Director

  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2.EX-10.12

 Exhibit 10.12 

Execution Copy 
  

 
 [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed
separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

TERMINATION AND LICENSE AGREEMENT 

This Termination and License Agreement (the “Agreement”) is made and entered into as of May 24, 2013 (the
“Effective Date”) by and between Merck Sharp & Dohme Corp., a New Jersey corporation with a principal place of business at One Merck Drive, Whitehouse Station, NJ 08889 (“Merck”) and Scynexis, Inc., a
Delaware corporation with a principal place of business at 3501 C Tricenter Boulevard, Durham, NC 27713 (“Scynexis”) (each individually a “Party” and, collectively, the “Parties”). 

RECITALS 
 WHEREAS,
Scynexis and Merck have expressed the mutual intent to terminate the 2002 Agreement (as defined herein); 
 WHEREAS, Scynexis desires to
continue the development and commercialization of a certain Program Compound (as defined herein); and 
 WHEREAS, Merck desires to grant
Scynexis an exclusive, worldwide, royalty-bearing license under Program Compound Patent Rights (as defined herein) in the Field (as defined herein) and certain other rights with respect to such Program Compound as described herein. 

NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements contained in this Agreement, and for good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Scynexis and Merck agree as follows: 
 ARTICLE
1 
 DEFINITIONS 

All capitalized terms in this Agreement shall have the following meanings: 

1.1. “2002 Agreement” shall mean the Research Collaboration and License Agreement, dated June 1, 2002, by and between
Scynexis and Merck, and as subsequently amended by the Parties on April 14, 2003, June 2, 2003, January 1, 2006 and January 1, 2008. 

1.2. “Affiliate” shall mean (i) any corporation or business entity of which fifty percent (50%) or more of the
securities or other ownership interests representing the 

  
 1 

 

 
  

 
equity, the voting stock or general partnership interest are owned, controlled or held, directly or directly, by Merck or Scynexis; or (ii) any corporation or business entity which, directly
or indirectly, owns, controls or holds fifty percent (50%) (or the maximum ownership interest permitted by law) or more of the securities or other ownership interests representing the equity, the voting stock or, if applicable, the general
partnership interest, of Merck or Scynexis. 
 1.3. “Agreement” shall have the meaning set forth in the preamble. 

1.4. “Calendar Quarter” shall mean the respective periods of three (3) consecutive calendar months ending on
March 31, June 30, September 30 and December 31. 
 1.5. “Calendar Year” means a period of
twelve (12) consecutive calendar months ending on December 31. 
 1.6. “Claims” shall have the meaning given such
term in Section 7.1. 
 1.7. “Clinical Trial” shall mean either a Phase I Clinical Trial, a Phase II Clinical Trial or
a Phase III Clinical Trial, as the case may be. 
 1.8. “Combination Product” means either: (a) any pharmaceutical
product containing Program Compound and at least one other active ingredient that is not a Program Compound; or (b) any combination of a Program Compound and another pharmaceutical product that contains at least one other active ingredient that
is not a Program Compound where such products are not formulated together but are sold together as a single product and invoiced as one product. All references to Product in this Agreement shall be deemed to include Combination Product. 

1.9. [*]. 
 1.9A.
“Control,” “Controls” or “Controlled by” shall mean, with respect to any intellectual property right, that the applicable Party owns or has a license to such item or right and has the ability to
grant to the other Party access to, and/or a license or sublicense under, such item or right as provided for in this Agreement without violating the terms of any agreement with any Third Party existing at the time such Party would be required
hereunder to grant the other Party such access or license or sublicense (as applicable). 
 1.10. “Effective Date” shall
have the meaning set forth in the preamble. 
 1.11. “Field” shall mean the treatment and prevention of diseases,
infections or other disorders in humans. 
  
 [*] = Certain confidential information
contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 2 

 

 
  

 1.12. “Filing” of an NDA means the acceptance by a regulatory authority of
an NDA for filing, if applicable, or the date of filing if the applicable regulatory jurisdiction does not have an “acceptance” process or requirement. 

1.13. “First Commercial Sale” shall mean, with respect to Product, the first sale for end use or consumption of such Product
in a country after all required approvals, including marketing and pricing approvals, have been granted by the governing health authority of such country. 

1.14. “IND” means the investigational new drug application numbered 107,521 for Program Compound as submitted to FDA prior to
the Effective Date. 
 1.15. “Initiation” shall mean, with respect to a milestone event as set forth in Section 5.1,
the administration of the first dose to a patient or subject in a Clinical Trial. 
 1.16. “Major Market” shall mean any
one of the following countries: United States, Japan, the United Kingdom, France, Germany, Italy or Spain. 
 1.17. “Major European
Market” shall mean any one of the following countries: the United Kingdom, France, Germany, Italy or Spain. 
 1.18.
“Marketing Approval” shall mean any and all approvals (including price and reimbursement approvals), licenses, registrations, or authorizations of the United States, European Union or any country, federal, state or local regulatory
agency, department, bureau or other government entity that is necessary for the manufacture, use, storage, import, transport and/or sale of a Product for human use in such jurisdiction and following which the Product may be legally sold in such
jurisdiction. 
 1.19. “Materials” shall consist of the Prototype Materials and other materials set forth in Schedule
1.19 attached hereto. 
 1.20. “Merck” shall have the meaning set forth in the preamble. 

1.21. “Merck FDA Letter” means the letter from Merck to FDA, duly executed by Merck, to be filed with FDA no later than one
(1) business day following the Effective Date with regard to the transfer of the IND from Merck to Scynexis, the form of which is attached hereto as Schedule 1.21. 

1.22. [RESERVED] 
 1.23.
“Merck Indemnitees” shall have the meaning set forth in Section 7.3. 
 1.24. “Merck Know-How” shall
mean any Merck information and materials, including but not limited to, discoveries, improvements, processes, formulas, data, inventions, know-how and trade secrets, patentable or otherwise, which are not generally 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 3 

 

 
  

 
known and are set forth in the IND, Program Documentation and Materials, including [*]. 

1.25. “Merck Patent Rights” shall consist of Program Compound Patent Rights, Merck Process Patent Rights and Other Compound
Patent Rights. 
 1.26. “Merck Process Patent Rights” shall mean those Patent Rights that as of the Effective Date and
during the term of the Agreement (a) are Controlled by Merck and/or its Affiliates and (b) claim or cover any cell line, starting material or intermediate used for making the Program Compound or the process for making Program Compound or
an intermediate thereof, including without limitation, the Patent Rights set forth in Schedule 1.26 attached hereto. 
 1.27.
“Merck Released Claims” shall have the meaning set forth in Section 7.1. 
 1.28. “NDA” shall mean a
New Drug Application, Marketing Application Authorization or similar application or submission for marketing approval of a Product filed with a regulatory authority in a country. 

1.29. “Net Sales” shall mean the gross invoice price of Product sold by Scynexis, its Affiliates or sublicensees (which term
does not include distributors) to the first independent third party after deducting, if not previously deducted, in the amount invoiced or received: 

a) trade and quantity discounts; 

b) returns, rebates and allowances; 

c) charge backs and other amounts paid on sale or dispensing of Products; 

d) retroactive price reductions that are actually allowed or granted; 

e) sales commissions paid to distributors and/or selling agents; 

f) [*] bad debt, sales or excise taxes, early payment cash discounts, transportation and insurance charges and additional special
transportation, custom duties, and other governmental charges; and 
 g) the standard inventory cost of devices or delivery systems used for
dispensing or administering Product which accompany Product as it is sold. 
 With respect to sales of Combination Products, Net Sales shall
be calculated [*]. In the event that Product is sold only as a Combination Product, Net Sales shall be 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 4 

 

 
  

 
calculated on the basis of the invoice price of the Combination Product multiplied by a fraction, the numerator of which shall be the [*] of Program Compound in the Product and the denominator of
which shall be the [*] of all of the active ingredients in the Combination Product. [*] shall be determined in accordance with Scynexis’ regular accounting methods. In the event that Product is sold only as a Combination Product and either
Party reasonably believes that the calculation set forth in this Paragraph does not fairly reflect the value of the Product relative to the other active ingredients in the Combination Product, the Parties shall negotiate, in good faith, other means
of calculating Net Sales with respect to Combination Products. 
 1.30. [RESERVED] 

1.31. “Other Compound Patent Rights” shall mean the Patent Rights set forth in Schedule 1.31 attached hereto. 

1.32. “Party” or “Parties” shall have the meaning set forth in the preamble. 

1.33. “Patent Rights” shall mean any and all patents or patent applications in the Territory (which for the purposes of this
Agreement shall be deemed to include certificates of invention, applications for certificates of invention, divisions, continuations, continuations-in-part, reissues, renewals, extensions, supplementary protection certificates, utility, models and
the like of any such patents and patent applications and foreign equivalents thereof). 
 1.34. “Payment” shall have the
meaning set forth in Section 3.8(c). 
 1.35. “Phase I Clinical Trial” shall mean a human clinical trial relating to
Product (in any country) that would satisfy the requirements of US 21 CFR 312.21(a) involving patients or normal volunteers, which are closely monitored, to obtain initial safety information, and if possible, early indication of effectiveness. 

1.36. “Phase II Clinical Trial” shall mean a human clinical trial relating to Product (in any country) that would satisfy the
requirements of US 21 CFR 312.21(b) involving patients with the disease or condition or interest, which are closely monitored, to evaluate effectiveness as well as common short-term side effects and risks. 

1.37. “Phase III Clinical Trial” shall mean controlled or uncontrolled human clinical trial relating to Product (in any
country) that would satisfy the requirements of US 21 CFR 312.21(c) involving patients with the disease or condition or interest, the results of which could be used to establish safety and efficacy of the Product as a basis for a Marketing Approval.

 1.38. “Program Compound” shall mean MK-3118 (also known as SCY-078), a semi-synthetic derivative of the natural product
enfumafungin and a potent inhibitor of the synthesis of the fungal cell wall polymer b-(1,3)-D-glucan. Chemical Name: [*] 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 5 

 

 
  

 1.39. “Program Compound Patent Rights” shall mean the Patent Rights set
forth in Schedule 1.39 attached hereto. 
 1.40. “Product” shall mean any pharmaceutical preparation in final form,
including all dosage forms, formulations and line extensions thereof, for any and all uses in the Field, including without limitation any Combination Product, comprising Program Compound (i) for sale by prescription, over-the-counter or any
other method; or (ii) for administration to human patients in a Clinical Trial. 
 1.41. “Program Documentation” shall
mean the information, data and records relating to Program Compound as set forth in Schedule 1.41 attached hereto. 
 1.42.
“Proprietary Information” shall mean all Merck Know-How, Scynexis Know-How, and all other scientific, clinical, regulatory, marketing, financial and commercial information or data, whether communicated in writing, electronically or
orally, which is provided by one Party to the other Party in connection with this Agreement. 
 1.43. “Prototype Materials”
shall consist of the Materials specifically identified as “Prototype Materials” in Schedule 1.19 attached hereto. 
 1.44.
“Scynexis” shall have the meaning set forth in the preamble. 
 1.45. “Scynexis FDA Letter” means the
letter from Scynexis to FDA, duly executed by Scynexis, to be filed with FDA no later than one (1) business day following the Effective Date with regard to the transfer of the IND from Merck to Scynexis, the form of which is attached hereto as
Schedule 1.45. 
 1.46. “Scynexis Know-How” shall mean any Scynexis information and materials, including but not
limited to, discoveries, improvements, processes, formulas, data, inventions, know-how and trade secrets, patentable or otherwise, which are not generally known and are set forth in any written progress reports provided by Scynexis to Merck. 

1.47. “Scynexis Released Claims” shall have the meaning set forth in Section 7.2. 

1.48. “Taxes” shall have the meaning set forth in Section 5.7. 

1.49. “Territory” shall mean all of the countries in the world. 

1.50. “Third Party Claim” shall have the meaning set forth in Section 7.4(b). 

1.51. “Valid Patent Claim” means a claim of an issued and unexpired patent included within the Merck Patent Rights, which has
not been revoked or held 
  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 6 

 

 
  

 
unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction, unappealable or unappealed with the time allowed for appeal, and which has not been
disclaimed, denied or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise. 
 ARTICLE 2 

TERMINATION OF 2002 AGREEMENT 

2.1. Termination of the 2002 Agreement. Merck and Scynexis hereby agree to terminate the 2002 Agreement as of the Effective Date and
agree that all rights and obligations of the Parties set forth in the 2002 Agreement shall be extinguished except as otherwise provided in this Agreement. 

2.2. Transfer of IND. 

(a) Merck hereby transfers all right, title and interest in and to the IND to Scynexis as of the Effective Date. 

(b) Scynexis and Merck shall file the Scynexis FDA Letter and the Merck FDA Letter, respectively, with the FDA within one (1) business
day after the Effective Date. Scynexis shall be responsible for the payment of any filing or similar fees payable to the FDA with respect to the transfer of the IND and the Program Compound to the Scynexis. 

2.3. Transfer of Program Documentation. 

(a) Merck shall provide to Scynexis the Program Documentation on or prior to the Effective Date. 

(b) Scynexis acknowledges and agrees that it has received from Merck the Program Documentation as of the Effective Date. 

2.4. Transfer of Materials 

(a) Merck shall transfer to Scynexis, free of charge, the Materials within sixty (60) days of the Effective Date. 

(b) Merck shall use commercially reasonable efforts to arrange and conduct the shipment of the Materials in a manner commensurate with the
care and maintenance requirements of the Materials. Within [*] of delivery of the Materials, Scynexis shall confirm due receipt thereof in writing, which confirmation shall be conclusive evidence of the discharge of Merck’s obligations
hereunder. If no written confirmation is provided within the required time period, then Scynexis shall be deemed to have received the Materials and Merck’s obligations fully discharged. 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 7 

 

 
  

 (c) Merck shall hold title to and risk of loss and damage to the Materials under this
Agreement, until tender to Scynexis at Scynexis’ offices, or designated facility at which time, title and risk of loss and damage to the Materials shall transfer to Scynexis. No right or interest in any know-how or any other intellectual
property rights of Merck shall be otherwise transferred by the transfer of the Materials. 
 (d) Scynexis acknowledges and agrees that the
Materials are experimental and are supplied to Scynexis “as is.” (I) NO REPRESENTATION, CONDITION OR WARRANTY WHATSOEVER IS MADE OR GIVEN BY OR ON BEHALF OF MERCK; AND (II) ALL OTHER CONDITIONS AND WARRANTIES WHETHER ARISING BY
OPERATION OF LAW OR OTHERWISE ARE HEREBY EXPRESSLY EXCLUDED, INCLUDING ANY CONDITIONS AND WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. Scynexis agrees to rely solely upon its own opinion of the
Materials with regard to their safety and suitability for any purpose. 
 2.5. Use and Maintenance of Prototype Materials. 

(a) Scynexis shall maintain proof of usage and disposition of the Prototype Material until [*], including implementation of validated controls
to track inventory, distribution, and actual use of such Prototype Material. 
 (b) Scynexis shall use the Prototype Material for the sole
and exclusive purpose of development, testing or product evaluation to support clinical development of Program Compound, in accordance with subheading 9817.85.01 of the Harmonized Tariff Schedule of the United States and applicable laws. 

(c) Scynexis shall not sell to a third party the Prototype Material or any derivatives of such Prototype Material, including Product. In
addition, Scynexis shall not incorporate the Prototype Material into other products or materials for sale by Scynexis or a third party. 

(d) If requested by Merck or U.S. Customs, Scynexis shall provide a specific end use statement for the Prototype Material in the form attached
hereto as Schedule 2.5. Such statement shall be provided within [*] of Scynexis’ receipt of such request from Merck or U.S. Customs. 

(e) Upon the written request of Merck and not more than [*], Scynexis shall permit Merck or its designee to have access during normal business
hours to such records and personnel of Scynexis as may be reasonably necessary to verify Scynexis’ compliance with the terms and conditions of this Section 2.5. 

2.6. Except as otherwise set forth in this Article 2, Merck shall have no obligations to Scynexis, its Affiliates or sublicensees to take any
actions or provide any information, documentation, materials or assistance after the Effective Date. For clarity, 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 8 

 

 
  

 
Merck shall not be required to respond to any requests by Scynexis, its Affiliates or sublicensees for information, documentation, materials or assistance with regard to any research,
development, regulatory, manufacturing, marketing or commercialization matter related to Program Compound or Product. 
 ARTICLE 3

 LICENSE GRANTS, DEVELOPMENT AND COMMERCIALIZATION 

3.1. License Grants by Merck. 

(a) Exclusive License. Merck hereby grants to Scynexis an exclusive (even as to Merck), royalty-bearing license under Merck’s
interest in the Program Compound Patent Rights, with a right to grant and authorize sublicenses, to research, develop, make, have made, use, offer to sell, sell and/or import the Product for use in the Field in the Territory during the Term. 

(b) Non-Exclusive License. Merck hereby grants to Scynexis a non-exclusive, royalty-bearing license under the Merck Process Patent
Rights and Merck Know-How, with a right to grant and authorize sublicenses, to research, develop, make, have made, use, offer to sell, sell and/or import the Product for use in the Field in the Territory during the Term. Further, Merck covenants not
to grant any license to a third party under the Merck Process Patent Rights and/or Merck Know-How to research, develop, make, have made, use, offer to sell, sell and/or import the Product for use in the Field in the Territory during the Term. 

3.2. License Grant by Scynexis. Scynexis hereby grants to Merck an exclusive (even as to Scynexis), fully paid-up, perpetual license
under Scynexis’ interest in the Program Compound Patent Rights, with a right to grant and authorize sublicenses, to research, develop, make, have made, use, offer to sell, sell and/or import the Product for use outside of the Field in the
Territory; provided, however, if Scynexis accepts assignment of the Program Compound Patent Rights pursuant to Section 3.6(a) then the license granted in this Section 3.2 shall be terminated. 

3.3. Merck Retained Rights. The Parties acknowledge and agree that Merck and its Affiliates, and their respective sublicensees, shall
retain the rights under the Program Compound Patent Rights to research, develop, make, have made, use, offer to sell, sell and/or import Program Compound and other products outside of the Field in the Territory; provided, however, if Scynexis
accepts assignment of the Program Compound Patent Rights pursuant to Section 3.6(a) then all Retained Rights references herein shall be extinguished. 

3.4. No Implied Licenses. Except as specifically set forth in this Agreement, neither Party shall acquire any license or other
intellectual property interest, by implication or otherwise, in any Proprietary Information disclosed to it under this 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 9 

 

 
  

 
Agreement or under any patent rights, know-how or other intellectual property owned or controlled by the other Party or its Affiliates. 

3.5. Sublicenses. Merck and Scynexis shall each have the right to sublicense any or all of the licenses granted to a Party hereunder.
Each Party shall be responsible for ensuring that the performance by any of its sublicensees hereunder that are exercising rights under a sublicense hereunder is in accordance with the applicable terms of this Agreement (applicable to the
sublicensed activities), and the grant of any such sublicense shall not relieve a Party of its obligations under this Agreement (except to the extent they are performed by any such sublicensee(s) in accordance with this Agreement). 

3.6. Prosecution and Enforcement of Merck Patent Rights. 

(a) Merck shall prosecute and maintain the Merck Patent Rights in the Territory. Notwithstanding the foregoing, in the event that Merck
determines it no longer wishes to prosecute and maintain some or all of the Merck Patent Rights in the Territory, Merck shall offer to assign such Merck Patent Rights to Scynexis. Scynexis shall have [*] from receipt of written notice from Merck to
accept or decline the assignment of such Merck Patent Rights. Upon acceptance, the Parties shall execute the necessary instruments effecting the assignment. Scynexis hereby acknowledges and agrees that good and valuable consideration for the
assignment of such Merck Patent Rights from Merck to Scynexis shall consist of Scynexis’ obligations to make the milestone and royalty payments to Merck as set forth in Article 5 and that such obligations of Scynexis shall remain in full force
and effect following the assignment of Merck Patent Rights. In the event that Scynexis declines to accept the assignment of the Merck Patent Rights or fails to respond to Merck’s written notice within the [*] notice period, Merck shall have the
right to assign any or all of the Merck Patent Rights to a third party or otherwise abandon such Merck Patent Rights in whole or in part. Upon acceptance of the assignment of such Merck Patent Rights and/or the expiration of the [*] notice period,
Merck shall no longer be obligated to perform the activities set forth in subsections (b) through (i) below; provided however, notwithstanding the foregoing, in the event that Scynexis has accepted assignment of any Program Compound Patent
Rights pursuant to this Section 3.6(a) and a third party should seek to invalidate or render unenforceable any such Program Compound Patent Right, Merck shall offer reasonable assistance to Scynexis (or its licensees) to the extent that such
assistance is required as a result of Merck being the original joint owner of such Program Compound Patent Right, at no charge except for reimbursement of reasonable out-of-pocket expenses incurred in rendering such assistance. 

(b) Without prejudice to the duties of Merck above, Merck shall give notice to Scynexis of the grant, lapse, revocation, surrender,
invalidation or abandonment of any Merck Patent Rights. 
  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 10 

 

 
  

 (c) Merck shall inform Scynexis of any request for, or filing or declaration of, any
interference, opposition, invalidation, reexamination, reissue proceeding, post-grant review, inter partes review, derivation proceeding or other similar administrative proceeding or administrative appeal thereof, relating to Merck Patent Rights
within [*] of learning of such event. Merck shall keep Scynexis informed of developments in any such action or proceeding, including, consultation and approval of any settlement, the status of any settlement negotiations and the terms of any offer
related thereto. Merck shall bear the expense of any of the foregoing relating to Merck Patent Rights. 
 (d) Each Party shall promptly
report in writing to each other Party during the term of this Agreement any infringement of any of the Merck Patent Rights in the Field in the Territory by a third party of which it becomes aware. The Parties shall thereafter consult and cooperate
fully to determine a course of action, including but not limited to the commencement of legal action by either or both Merck and Scynexis, to terminate any infringement of the Merck Patent Rights. However, Merck, upon written notice to Scynexis,
shall have the first right to initiate and prosecute such legal action at its own expense and in the name of Merck and Scynexis or to control the defense of any declaratory judgment action relating to the Merck Patent Rights. Merck shall promptly
inform Scynexis if its elects not to exercise such first right and Scynexis shall thereafter have the right to either initiate and prosecute such action or to control the defense of such declaratory judgment action in the name of Scynexis and, if
necessary, Merck. Each Party shall have the right to be represented by counsel of its own choice. 
 (e) In the event that Merck determines
to initiate an infringement or other appropriate suit anywhere in the world against such third party in accordance with subsection (d) hereof, Merck shall provide Scynexis with an opportunity to make suggestions and comments regarding such suit
and shall promptly notify Scynexis of the commencement of such suit. Merck shall keep Scynexis promptly informed of, and shall from time to time consult with Scynexis regarding, the status of any such suit and shall provide Scynexis with copies of
all documents filed in, and all material written communications relating to, such suit. Merck shall select counsel who shall be reasonably acceptable to Scynexis. Merck shall, except as provided below, pay all expenses of the suit, including,
without limitation, attorneys’ fees and court costs. If necessary, Scynexis shall join as a party to the suit but shall be under no obligation to participate except to the extent that such participation is required as the result of being a
named party to the suit. Scynexis shall have the right to participate and be represented in any suit by its own counsel at its own expense. Merck shall not settle any such suit involving rights of Scynexis without obtaining the prior written consent
of Scynexis, which consent shall not be unreasonably withheld. 
 (f) In the event that Scynexis (or its sublicensee) determines to initiate
an infringement or other appropriate suit anywhere in the world against such third party in accordance with subsection (d) hereof, Scynexis (or its sublicensee) shall have the 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 11 

 

 
  

 
sole and exclusive right to select counsel and shall pay all expenses of the suit, including without limitation attorneys’ fees and court costs. If necessary, Merck shall join as a party to
the suit and shall participate only to the extent that such participation is required as a result of its being a named party to the suit or being the holder of any patent at issue or being the owner of any Merck Patent Rights at issue. At
Scynexis’ request, Merck shall offer reasonable assistance to Scynexis (or its sublicensees) in connection therewith at no charge except for reimbursement of reasonable out-of-pocket expenses incurred in rendering such assistance. Without
limiting the generality of the preceding sentence, Merck shall cooperate fully in order to enable Scynexis (or its sublicensees) to institute any action hereunder. Merck shall have the right to be represented in any such suit by its own counsel at
its own expense. 
 (g) Any recovery obtained by either or both Merck and Scynexis in connection with or as a result of any action
contemplated by this section, whether by settlement or otherwise, shall be shared in order as follows: 
 (i) the Party which initiated and
prosecuted the action shall recoup all of its costs and expenses incurred in connection with the action; 
 (ii) the other Party shall then,
to the extent possible, recover its costs and expenses incurred in connection with the action; and 
 (iii) the amount of any recovery
remaining shall then be [*]. 
 h) Merck shall inform Scynexis of any certification regarding any Merck Patent Rights it has received
pursuant to either 21 U.S.C. §§355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV) or its successor provisions or any similar provisions in a country in the Territory other than the United States and shall provide Scynexis with a copy of such
certification within [*] of receipt. Scynexis’ and Merck’s rights with respect to the initiation and prosecution of any legal action as a result of such certification or any recovery obtained as a result of such legal action shall be as
defined in Sections 3.6(d)-(g) hereof; provided, however, that Merck shall exercise its first right to initiate and prosecute any action and shall inform Scynexis of such decision within [*] of receipt of the certification, after which time
Scynexis shall have the right to initiate and prosecute such action. 
 i) The Parties shall cooperate with each other in obtaining patent
term restoration or supplemental protection certificates or their equivalents in any country in the Territory in the Field for the Compound Patent Rights. In the event that elections with respect to obtaining such patent term restoration are to be
made, Scynexis shall have the right to direct the election and Merck agrees to abide by such election. 
 3.7. Development and
Commercialization. 
  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 12 

 

 
  

 (a) Scynexis, at its sole cost and expense, shall have the sole discretion to research,
develop, manufacture and commercialize the Product either alone or together with a third party. 
 (b) Within [*] following the end of each
Calendar Year, Scynexis shall provide to Merck a written progress report which shall describe the development and commercialization activities for the Product, including without limitation, any updates regarding sublicensees involved in the
development and/or commercialization of the Product. 
 3.8. Compliance with Law and Ethical Business Practices. 

(a) Each Party shall perform its obligations under this Agreement in compliance with the requirements of applicable law, including without
limitation, with respect to the Prototype Materials, the applicable provisions of the Tariff Suspension and Trade Act of 2000 and any subsequent amendments. 

(b) Scynexis acknowledges that Merck’s corporate policy requires that Merck’s business must be conducted within the letter and
spirit of the law, including the U.S. Foreign Corrupt Practices Act. By signing this Agreement, Scynexis agrees to conduct the activities contemplated herein in a manner which is consistent with both applicable law and business ethics. 

(c) Without limitation of the foregoing, Scynexis warrants that none of its employees, agents, officers or other members of its management are
officials, officers, agents, representatives of any government or international public organization. Scynexis shall not make any payment, either directly or indirectly, of money or other assets (hereinafter collectively referred as a
“Payment”), to government or political party officials, officials of international public organizations, candidates for public office, or representatives of other businesses or persons acting on behalf of any of the foregoing where
such Payment would constitute violation of any applicable law. 
 ARTICLE 4 

CONFIDENTIALITY AND PUBLICATION 

4.1. Nondisclosure Obligation. All Proprietary Information disclosed by one Party to the other Party hereunder shall be maintained in
confidence by the receiving Party and shall not be disclosed to any third party or used for any purpose except as set forth herein, without the prior written consent of the disclosing Party, except to the extent that such Proprietary Information:

 (a) is known by the receiving Party at the time of its receipt, and not through a prior disclosure by the disclosing Party, as documented
by the receiving Party’s business records; 
  
 [*] = Certain confidential
information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 13 

 

 
  

 (b) is in the public domain by use and/or publication before its receipt from the disclosing
Party, or thereafter enters the public domain through no fault of the receiving Party; 
 (c) is subsequently disclosed to the receiving
Party by a third party who may lawfully do so and is not under an obligation of confidentiality to the disclosing Party; and 
 (d) is
developed by the receiving Party independently of Proprietary Information received from the disclosing Party, as documented by the receiving Party’s business records. 

Any combination of features or disclosures shall not be deemed to fall within the foregoing exclusions merely because individual features are
published or available to the general public or in the rightful possession of the receiving Party unless the combination itself and principle of operation are published or available to the general public or in the rightful possession of the
receiving Party. 
 4.2. Permitted Disclosures. Notwithstanding Section 4.1, each Party shall be permitted to disclose
Proprietary Information of the other Party, if such Proprietary Information: 
 (a) is disclosed by the receiving Party (or its Affiliates
or sublicensees) to governmental or other regulatory agencies in order to obtain patents or to gain or maintain approval to conduct clinical trials or to market Product, but such disclosure may be only to the extent reasonably necessary to obtain
patents or authorizations; 
 (b) is disclosed by receiving Party (or its Affiliates) to its sublicensees, agent(s), consultant(s), and/or
other third parties for the research and development, manufacture, marketing and/or sale of Program Compound or Product (or for such third parties to determine their interest in performing such activities) in accordance with this Agreement
(including the exercise of licenses granted to a Party hereunder) on the condition that such third parties agree to be bound by confidentiality and non-use obligations that substantially are no less stringent than those confidentiality and non-use
provisions contained in this Agreement; provided, however, that the term of confidentiality may be limited to [*]; or 
 (c) is required to
be disclosed by law or court order, provided that notice is promptly delivered to the disclosing Party in order to provide such Party with an opportunity to challenge or limit the disclosure requirement. 

4.3. Publication. As between the Parties, Scynexis shall have the right to publish results of any research or development activities
conducted by or on behalf of Scynexis with respect to any Product, and Merck (and its Affiliates) shall have no right to do so. 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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 4.4. Publicity; Use of Names. 

(a) Merck agrees that Scynexis may issue a press release upon execution of this Agreement in the form attached hereto as Schedule 4.4.

 (b) Except as otherwise expressly set forth in Section 4.2 or this Section 4.4, no disclosure of the existence, or the terms,
of this Agreement may be made by either Party. Neither Party shall use the name, trademark, trade name or logo of the other Party, its Affiliates or their respective employee(s) in any publicity, promotion, news release, disclosure or regulatory
submission relating to this Agreement or its subject matter, without the prior express written permission of the other Party. Notwithstanding the foregoing, Scynexis shall have the right to disclose the existence and terms of this Agreement to
potential capital investors (including, but not limited to, potential purchasers of the stock and/or assets of Scynexis) and to sublicensees, who shall be bound by confidentiality and non-use obligations that substantially are no less stringent than
those confidentiality and non-use provisions contained in this Agreement; provided, however, that the term of confidentiality may be limited to three (3) years. 

ARTICLE 5 
 PAYMENTS;
ROYALTIES AND REPORTS 
 5.1. Milestone Payments. In consideration for the licenses granted herein and subject to the terms and
conditions of this Agreement, Scynexis shall pay to Merck the following milestone payments: 
 (a) [*] ($[*]) dollars upon [*]; 

(b) [*] ($[*]) dollars upon [*]; 

(c) [*] ($[*]) dollars upon [*]; 

(d) [*] ($[*]) dollars upon [*]; 

(e) [*] ($[*]) dollars upon [*]; 

(f) [*] ($[*]) dollars upon [*]; 
 The foregoing
milestone payments will be non-refundable, but will be creditable against future royalties payable. Scynexis shall notify Merck in writing within [*] upon the achievement of each milestone, such notice to be accompanied by payment of the appropriate
milestone payment within [*]. 
 5.2. Royalties. In consideration for the licenses granted herein and subject to the terms and
conditions of this Agreement, Scynexis shall pay to Merck royalties on a country-by-country basis in an amount equal to: 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 15 

 

 
  

 (a) [*] percent ([*]%) of Net Sales for the initial [*] ($[*]) dollars of sales of Product in
the Territory in a Calendar Year by Scynexis, its Affiliates or sublicensees; 
 (b) [*] percent ([*]%) of Net Sales for sales between [*]
($[*]) dollars and [*] ($[*]) of sales of Product in the Territory in a Calendar Year by Scynexis, its Affiliates or sublicensees; 
 (c)
[*] percent ([*]%) of Net Sales for sales over [*] ($[*]) of sales of Product in the Territory in a Calendar Year by Scynexis, its Affiliates or sublicensees. 

Royalties on Product at the rate set forth above shall be effective as of the date of First Commercial Sale of Product in a country with a Valid Patent Claim
claiming the manufacture, use or sale of such Product and shall continue until [*] (i) expiration of the last-to-expire Valid Patent Claim claiming the manufacture, use or sale of such Product or (ii) [*] from the First Commercial Sale of
such Product in such country. As [*], in those countries of the Territory where there are [*], such royalties shall be paid at [*] percent ([*]%) of the rates set forth above effective from the date of First Commercial Sale of Product in such
country for a period of [*] thereafter. 
 5.3. All royalties are subject to the following conditions: 

(a) that only one royalty shall be due with respect to the same unit of Product; 

(b) that no royalties shall be due upon the sale or other transfer among Scynexis, its Affiliates and sublicensees, but in such cases the
royalty shall be due and calculated upon Scynexis’ or its Affiliate’s or its sublicensee’s Net Sales to the first independent third party; and 

(c) no royalties shall accrue on the disposition of Product in reasonable quantities by Scynexis, Affiliates or its sublicensees as samples
(promotion or otherwise) or as donations (for example, to non-profit institutions or government agencies for a non-commercial purpose). 

5.4. It is understood by the parties that Scynexis may sell Product(s) to an independent third party (such as a retailer or wholesaler) and
may subsequently perform services relating to Product(s) and other products under a managed pharmaceutical benefits contract or other similar contract. In such cases, it is agreed by the Parties that Net Sales shall be based on [*]. 

5.5. The Parties acknowledge that during the term of this Agreement, Scynexis’ sales practices for the marketing and distribution of
Product may change to the extent to which the calculation of the payment for royalties on Net Sales may become impractical or even impossible. In such event the parties agree to meet and 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 16 

 

 
  

 
discuss in good faith new ways of compensating Merck to the extent currently contemplated under Section 5.2. 

5.6. In those cases where Scynexis sells bulk Compound rather than Product in packaged form to an independent third party, the royalty
obligations of this Section 5 shall be [*]. 
 5.7. If a compulsory license is granted to a third party with respect to Product in any
country in the Territory with a royalty rate lower than the royalty rate provided by Section 5.2, then the royalty rate to be paid by Scynexis on Net Sales in that country under Section 5.2 shall be [*]. 

5.8. In the event that one or more patent licenses from other third parties are required by Scynexis, its Affiliates and sublicensees in order
to develop, make, have made, use or sell Program Compound or Product (hereinafter “Third Party Patent Licenses”), any consideration actually paid under such Third Party Patent Licenses by Scynexis, its Affiliates or sublicensees,
for sale of such Program Compound or Product in a country for such Calendar Quarter shall be creditable against the royalty payments due Merck by Scynexis with respect to the sale of such Products in such country. Notwithstanding the foregoing, in
no event shall any amount owed to Merck be reduced by more than [*] percent ([*]%) as a result of such Third Party Patent Licenses. 
 5.9.
In the event a [*] is sold in a country, then the royalty rate to be paid by Merck on Net Sales in that country under Section 5.2 shall be reduced by [*] percent ([*]%) in such country. 

5.10. Reports; Payment of Royalty. During the term of this Agreement following the First Commercial Sale of a Product, Scynexis shall
furnish to Merck a quarterly written report for the Calendar Quarter showing the Net Sales of all Products subject to royalty payments sold by Scynexis, its Affiliates and sublicensees in the Territory during the reporting period and the royalties
payable under this Agreement. Reports shall be due on the [*] day following the close of each Calendar Quarter. Royalties shown to have accrued by each royalty report shall be due and payable on the date such royalty report is due. Scynexis shall
keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined. 
 5.11. Audits.

 (a) Upon the written request of Merck and not more than once in each Calendar Year, Scynexis shall permit an independent certified public
accounting firm of nationally recognized standing selected by Merck and reasonably acceptable to Scynexis, at Merck’s expense, to have access during normal business hours to such of the records of Scynexis as may be reasonably necessary to
verify the accuracy of the royalty reports hereunder for any year ending not more than [*] prior to the date of such 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 17 

 

 
  

 
request. The accounting firm shall disclose to Merck only whether the royalty reports are correct or incorrect and the specific details concerning any discrepancies. No other information shall be
provided to Merck. 
 (b) If such accounting firm correctly concludes that additional royalties were owed during such period, Scynexis shall
pay the additional royalties within [*] days of the date Merck delivers to Scynexis such accounting firm’s written report so correctly concluding. The fees charged by such accounting firm shall be paid by Merck. Notwithstanding the foregoing,
in the event that the verification discloses an underpayment to Merck of more than [*] percent ([*]%) of the amount due and at least [*] ($[*]) dollars, Scynexis shall promptly reimburse Merck the fees and costs of the representative, and reasonable
costs incurred by Merck in respect of the audit. 
 (c) Scynexis shall include in each sublicense granted by it pursuant to this Agreement a
provision requiring the sublicensee to make reports to Scynexis and to keep and maintain records of sales made pursuant to such sublicense to the same extent required of Scynexis under this Agreement. 

(d) Merck shall treat all financial information subject to review under this Section 5.5 (or under any sublicense agreement) in
accordance with the confidentiality and non-use provisions of this Agreement, and shall cause its accounting firm to enter into an acceptable confidentiality agreement with Scynexis, its Affiliates and/or sublicensees obligating it to retain all
such information in confidence pursuant to such confidentiality agreement. 
 5.12. Payments and Exchange Rate. All payments to be
made by Scynexis to Merck under this Agreement shall be made in United States Dollars and may be paid by bank wire transfer in immediately available funds to the account designated in writing by Merck. In the case of sales outside the United States,
the rate of exchange to be used in computing the monthly amount of currency equivalent in United States Dollars due Merck shall be made at the monthly rate of exchange utilized by Scynexis in its worldwide accounting system (or such other globally
accepted standard as Scynexis may choose from time-to-time), prevailing on the third to the last business day of the month preceding the month in which such sales are recorded by Scynexis. 

5.13. Income Tax Withholding. Merck shall be liable for all income and other taxes (including interest) (“Taxes”)
imposed upon any payments made by Scynexis to Merck under this Article 5 (“Agreement Payments”). If applicable laws, rules or regulations require the withholding of Taxes, Scynexis shall make such withholding payments and shall
subtract the amount thereof from the Agreement Payments. Scynexis shall submit to Merck appropriate proof of payment of the withheld Taxes as well as the official receipts within a reasonable period of time. Scynexis shall provide Merck reasonable
information in its possession in order to allow Merck to obtain the 
  
 [*] = Certain
confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 18 

 

 
  

 
benefit of any present or future treaty against double taxation which may apply to the Agreement Payments. 

5.14. Third Party Licenses. Notwithstanding anything to the contrary herein (including Section 5.7), but subject to the provisions
of 5.8, Scynexis shall be solely responsible for satisfying all costs and payments of any kind (including all upfront fees, annual payments, milestone payments and royalty payments) (i) arising under any license or other grant of rights from a
third party to Scynexis (or any of its Affiliates) and/or (ii) otherwise arising as a result of the exercise by Scynexis of any licenses under this Agreement. 

5.15. Late Fees. If Scynexis fails to pay in full any undisputed sum payable under this Agreement within [*] after the end of the
period specified for payment, the amount outstanding shall bear interest at a per annum rate of prime as reported in the Wall Street Journal [*] or the maximum rate allowable by applicable law, whichever is less. 

ARTICLE 6 

REPRESENTATIONS AND WARRANTIES 

6.1. Representations and Warranties of Each Party. Each Party represents and warrants to the other Party that as of the Effective Date:

 (a) such Party is duly organized and validly existing under the laws of the state of its organization and has full corporate power and
authority to enter into this Agreement and to perform its obligations hereunder; and 
 (b) the execution and delivery of this Agreement and
the consummation of the transactions contemplated hereby have been duly authorized by the necessary corporate actions of such Party. This Agreement has been duly executed by such Party. This Agreement and any other documents contemplated hereby
constitute valid and legally binding obligations of such Party enforceable against it in accordance with their respective terms, except to the extent that enforcement of the rights and remedies created thereby is subject to bankruptcy, insolvency,
reorganization, moratorium and other similar laws of general application affecting the rights and remedies of creditors. 
 6.2.
Additional Merck Representations and Warranties. Merck represents and warrants to Scynexis that as of the Effective Date: 
 (a) all
issued patents contained within the Merck Patent Rights are in full force and effect and to the best of Merck’s knowledge, the Merck Patent Rights and Merck Know-How exist and are not invalid or unenforceable, in whole or in part; 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 19 

 

 
  

 (b) it has the full right, power and authority to enter into this Agreement, to perform the
activities hereunder, and to grant the licenses granted hereunder; 
 (c) it (and its Affiliates) has not previously (i) assigned,
transferred, conveyed or otherwise encumbered its right, title and/or interest in any Merck Patent Rights, or (ii) otherwise granted any rights to any third parties that would conflict with the rights granted to Scynexis hereunder, and, to the
best of Merck’s knowledge, there is no unauthorized use, infringement or misappropriation of any Merck Patent Rights; 
 (d) it jointly
owns with Scynexis the Program Compound Patent Rights, all of which are free and clear of any liens, charges and encumbrances; 
 (e) it
owns the Merck Process Patent Rights, all of which are free and clear of any liens, charges and encumbrances; and 
 (f) to its Knowledge,
except as disclosed on Schedule 6.2 attached hereto, it has provided a copy of all material information relating to safety and efficacy data from assays or test procedures that Merck considers to be non-proprietary for the Program Compound. 

6.3. Disclaimers. Merck does not make any representation or warranty, and specifically disclaims any warranty: 

(a) that the Program Compound will be useful to Scynexis for any purpose whatsoever; and more specifically Merck makes no representations or
warranties concerning the manufacturing process, or the efficacy, safety or adequacy of the Program Compound for the purpose of researching, developing, manufacturing, marketing or selling the Product before or after the Effective Date; 

(b) concerning the efficacy or safety for human use of Program Compound, whether in the formulation heretofore manufactured or in the form of
any other hydrates, solvates, salts, polymorphic forms (different crystal forms) of Program Compound or any derivatives thereof; 
 (c)
concerning the accuracy, completeness or utility of the Program Documentation for any purpose, including without limitation, the research and development of Program Compound or Product; or 

(d) concerning any legal and regulatory requirements that must be satisfied by Scynexis before Scynexis will be able lawfully to manufacture,
market and sell the Product in the Territory. 
 6.4. SCYNEXIS ACKNOWLEDGES AND AGREES THAT, EXCEPT FOR THE EXPRESS REPRESENTATIONS AND
WARRANTIES CONTAINED IN THIS 
  
 [*] = Certain confidential information contained in
this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 20 

 

 
  

 
AGREEMENT, MERCK HAS MADE NO REPRESENTATION OR WARRANTY WHATSOEVER AND SCYNEXIS HAS NOT RELIED ON ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, EXCEPT THOSE EXPRESSLY SET FORTH IN THIS
AGREEMENT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, SCYNEXIS ACKNOWLEDGES AND AGREES THAT, EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, MERCK IS PROVIDING THE IND, PROGRAM DOCUMENTATION AND MATERIALS ON AN “AS IS, WHERE IS”
BASIS WITHOUT ANY EXPRESS OR IMPLIED WARRANTIES AS TO THE FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY OR CONDITION OF THE ASSETS OR AS TO THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF ANY PERSON OR AS TO ANY OTHER MATTER. 

ARTICLE 7 
 RELEASE AND
INDEMNIFICATION 
 7.1. Merck Release. Merck (on behalf of itself and its successors or assigns, past and present officers,
directors, employees, agents and representatives) freely and voluntarily releases, relinquishes and forever discharges Scynexis and its parent, affiliates, subsidiaries, successors and assigns, past and present officers, directors, employees, agents
and representatives, from and against any and all claims, demands, causes of action, complaints, arbitrations, suits, judgments, demands, obligations or liabilities, damages, rights, costs, loans, debts and expenses of any kind or nature (including
attorneys’ fees and expenses), in law or equity, whether known or unknown, disclosed or undisclosed (“Claims”), that Merck now has or ever has had as of the Effective Date based on, by reason of, or arising out of the 2002
Agreement (the “Merck Released Claims”). In addition, Merck represents and warrants that it has not heretofore assigned or transferred, or purported to have assigned or transferred to any entity or person, any of the Released
Claims, or any amount of money related thereto. 
 7.2. Scynexis Release. Scynexis (on behalf of itself and its successors or
assigns, past and present officers, directors, employees, agents and representatives) freely and voluntarily releases, relinquishes and forever discharges Merck and its parent, affiliates, subsidiaries, successors and assigns, past and present
officers, directors, employees, agents and representatives, from and against any and all Claims that Scynexis now has or ever has had as of the Effective Date based on, by reason of, or arising out of the 2002 Agreement, including any and all
activities related to the research and development of Program Compound (the “Scynexis Released Claims”). In addition, Scynexis represents and warrants that it has not heretofore assigned or transferred, or purported to have assigned
or transferred to any entity or person, any of the Scynexis Released Claims, or any amount of money related thereto. 
 7.3.
Indemnification. Scynexis shall indemnify and hold Merck and its Affiliates and their respective officers, directors, agents and employees (“Merck 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 21 

 

 
  

 
Indemnitees”) harmless from and against any Claims arising under or related to this Agreement against them to the extent arising or resulting from: 

(a) the research, development and commercialization of Program Compound and Product by Scynexis, its Affiliates, sublicensees or third parties
acting on Scynexis’ behalf; 
 (b) the breach of this Agreement by Scynexis; or 

(c) the negligence or willful misconduct of Scynexis in regard to its performance, or non-performance, under this Agreement. 

7.4. Indemnification Procedure. 

(a) Each Merck Indemnitee shall provide Scynexis with prompt written notice of any Claims or the discovery of a fact upon which such Merck
Indemnitee intends to base a request for indemnification under Section 7.3 (it being understood and agreed, however, that the failure to give notice as provided in this Section 7.4 shall not relieve Scynexis of any such indemnification
obligations except and only to the extent that Scynexis is actually materially prejudiced as a result of such failure to give notice). 

(b) Each Party shall furnish promptly to the other Party copies of all papers and official documents received in respect of any Claims
resulting from or arising out of any Claim by a third party against a Merck Indemnitee (a “Third Party Claim”). The Merck Indemnitee shall reasonably cooperate as requested by and at the expense of Scynexis in the defense of any
Third Party Claims. 
 (c) Within [*] after receipt of such notification as set forth in subsection (a), Scynexis may, upon written notice
thereof to the Merck Indemnitee, assume control of the defense of any Third Party Claim with counsel reasonably satisfactory to the Merck Indemnitee. The Merck Indemnitee shall provide Scynexis with all information in its possession and all
assistance reasonably necessary to enable Scynexis to carry on the defense of any such Third Party Claim. If Scynexis does not assume control of such defense, the Merck Indemnitee shall control such defense. The Party not controlling such defense
may participate therein at its own expense. The Party controlling such defense shall keep the other Party advised of the status of the Third Party Claim and the defense thereof and shall consider recommendations made by the other Party with respect
thereto. The Merck Indemnitee shall not agree to any settlement of any Third Party Claim without the prior written consent of Scynexis, which shall not be unreasonably withheld, delayed or conditioned. Scynexis shall not agree to any settlement of
any Third Party Claim or consent to any judgment in respect thereof that does not include a complete and unconditional release of the Merck Indemnitee from all liability with respect thereto or that imposes any liability or obligation on the Merck

  
 [*] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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Indemnitee without the prior written consent of the Merck Indemnitee; provided, however, Scynexis may agree to a settlement of such action, suit, proceeding or Third Party Claim or consent
to any judgment in respect thereof with prior written notice to the Merck Indemnitee but without the consent of the Merck Indemnitee where the only liability to the Merck Indemnitee is the payment of money and Scynexis makes such payment. 

7.5. Insurance. Scynexis shall, at its sole expense, maintain in effect at all times during the period of the Agreement insurance
coverage with minimum limits as follows: (a) commercial general liability – occurrence form general aggregate (including contractual liability) of $[*]; (b) combined bodily injury/property damage each occurrence of $[*];
(c) products liability (including bodily injury and financial loss) of $[*]; and (d) excess liability – umbrella form of $[*]. Upon receipt of a written request from Merck, Scynexis shall deliver to Merck an insurer or insurer’s
agent signed certificate of insurance, as evidence that policies providing such coverage and limits of insurance are in full force and effect and with insurers, having an AM Best (A-) or higher rating. These certificates of insurance shall provide
that not less than [*] advance notice shall be given in writing to Scynexis of any cancellation, termination, or material alteration of said insurance policies. Merck (including its Affiliates) and their respective officers, directors and employees
should be added as additional insureds on the commercial general liability policies and Scynexis’ insurers shall waive all rights of subrogation against Merck. Scynexis’ insurance shall be primary with no contribution by Merck insurance.
All deductibles or self-insured retentions are the responsibility of Scynexis. 
 ARTICLE 8 

TERM AND TERMINATION 
 8.1.
Term and Expiration. This Agreement shall be effective as of the Effective Date and unless terminated earlier pursuant to Sections 8.2, the term of this Agreement shall continue in full force and effect until expiration of all royalty
obligations hereunder (“Term”). Upon expiration of this Agreement due to expiration of all royalty obligations hereunder, Scynexis’ licenses pursuant to Section 3.1 shall become fully paid-up, perpetual licenses. 

8.2. Termination for Cause. 

(a) Cause for Termination. This Agreement may be terminated at any time during the term of this Agreement upon written notice by a
Party if the other Party is in breach of its material obligations hereunder by causes and reasons within its control and has not cured such breach within [*] after written notice requesting cure of such breach; provided, however, in the event of a
good faith dispute with respect to the existence of such breach, the [*] cure period shall be tolled until such time as the dispute is resolved pursuant to Section 9.6. Notwithstanding the foregoing, any [*] failure by 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 23 

 

 
  

 
[*] to [*] in Section [*] shall [*] under such Section and [*] under this Agreement shall consist of [*] to [*] within the [*] cure period or such other period as mutually agreed by the Parties.

 (b) Effect of Termination for Cause. 

(i) if [*] terminates this Agreement under Section 8.2, [*] as of the effective date of such termination; 

(ii) if [*] terminates this Agreement under Section 8.2, [*] as of the effective date of such termination. 

8.3. Effect of Expiration or Termination; Survival. Expiration or termination of this Agreement shall not relieve the Parties of any
obligation accruing prior to such expiration or termination. Each Party shall pay all amounts then due and owing as of the expiration or termination date. Any expiration or termination of this Agreement shall be without prejudice to the rights of
either Party against the other accrued or accruing under this Agreement prior to expiration or termination. The provisions of Article 4 shall survive the expiration or termination of this Agreement and shall continue in effect for [*] following
termination or expiration. The provisions of Article 1 (as necessary for the interpretation of other surviving provisions); [*] Sections 6.3 and 6.4; Article 7; Article 8; and Article 9 shall survive any expiration or termination of this Agreement.

 ARTICLE 9 

MISCELLANEOUS 
 9.1.
Force Majeure. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached the Agreement for failure or delay in fulfilling or performing any term of the Agreement when such failure
or delay is caused by or results from causes beyond the reasonable control of the affected Party including, but not limited to, fire, floods, embargoes, war, acts of war (whether war be declared or not), insurrections, riots, civil commotion,
strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority or the other Party. The affected Party shall notify the other Party of such force majeure circumstances as soon as
reasonably practical. 
 9.2. Assignment. The Agreement may not be assigned or otherwise transferred, nor, except as expressly
provided hereunder, may any right or obligations hereunder be assigned or transferred, by either Party without the consent of the other Party, such consent not to be unreasonably withheld; provided, however, that a Party may at any
time during the Term assign the Agreement and its rights and obligations hereunder to an Affiliate or in connection with the transfer or sale of all or substantially all of its assets related to the Product or the business, or in the event of its
merger or 
  
 [*] = Certain confidential information contained in this document, marked
by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 24 

 

 
  

 
consolidation or change in control or similar transaction. Any permitted assignee shall assume all obligations of its assignor under the Agreement. 

9.3. Severability. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affect the
substantive rights of the Parties. The Parties shall in such an instance use their best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the
purposes of this Agreement. 
 9.4. Notices. All notices or other communications which are required or permitted hereunder shall be
in writing and sufficient if delivered personally, sent by facsimile (and promptly confirmed by personal delivery, registered or certified mail or overnight courier), sent by nationally-recognized overnight courier or sent by registered or certified
mail, postage prepaid, return receipt requested, addressed as follows: 
  

			
	if to Scynexis, to: 	  	Scynexis, Inc.
		  	3501 C Tricenter Boulevard
		  	Durham, NC 27713
		  	Attn: Director, Business Development
		  	Fax: (919) 544-8697
		
	with a copy to: 	  	Scynexis Chemistry & Automation, Inc.
		  	3501 C Tricenter Boulevard
		  	Durham, NC 27713
		  	Attn: President & CEO
		  	Fax: (919) 544-8697
		
	if to Merck, to: 	  	Merck Sharp & Dohme Corp.
		  	One Merck Drive (WS 2A-50)
		  	P.O. Box 100
		  	Whitehouse Station, NJ 08889-0100
		  	Attn: Chief Licensing Officer
		  	Fax: (908) 735-1201
		
	with a copy to:	  	Merck Sharp & Dohme Corp.
		  	One Merck Drive (WS 3A-65)
		  	P.O. Box 100
		  	Whitehouse Station, NJ 08889-0100
		  	Attn: Office of Secretary
		  	Fax: (908) 735-1246

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
 25 

 

 
  

 or to such other address as the Party to whom notice is to be given may have furnished to the other Party in
writing in accordance herewith. Any such communication shall be deemed to have been given when delivered if personally delivered or sent by facsimile on a business day, on the business day after dispatch if sent by nationally-recognized overnight
courier and on the third business day following the date of mailing if sent by mail. 
 9.5. Applicable Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of New Jersey and the United States without reference to any rules of conflict of laws or renvoi. 

9.6. Dispute Resolution. The Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy or
claim arising from or related to this Agreement or the breach thereof. If the Parties do not fully settle, and a Party wishes to pursue the matter, each such dispute, controversy or claim that is not an “Excluded Claim” shall be
finally resolved by binding arbitration in accordance with the Commercial Arbitration Rules and Supplementary Procedures for Large Complex Disputes of the American Arbitration Association (“AAA”), and judgment on the arbitration
award may be entered in any court having jurisdiction thereof. The arbitration shall be conducted by a panel of three persons experienced in the pharmaceutical business. Within [*] after initiation of arbitration, each Party shall select one person
to act as arbitrator and the two Party-selected arbitrators shall select a third arbitrator within [*] of their appointment. If the arbitrators selected by the Parties are unable or fail to agree upon the third arbitrator, the third arbitrator shall
be appointed by the AAA. The place of arbitration shall be New York, New York. Either Party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved. Either Party
also may, without waiving any remedy under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party pending the arbitration award. The arbitrators shall
have no authority to award punitive or any other type of damages not measured by a Party’s compensatory damages. Each Party shall bear its own costs and expenses and attorneys’ fees and an equal share of the arbitrators’ and any
administrative fees of arbitration. Except to the extent necessary to confirm an award or as may be required by law, neither a Party nor an arbitrator may disclose the existence, content, or results of an arbitration without the prior written
consent of both Parties. In no event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable New York statute of limitations.
As used in this Section, the term “Excluded Claim” shall mean a dispute, controversy or claim that concerns (a) the validity or infringement of a patent, trademark or copyrights, including without limitation the Merck Patent
Rights; or (b) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory. 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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 9.7. Entire Agreement. This Agreement constitutes the entire understanding of the
Parties with respect to the subject matter hereof. All express or implied agreement and understandings, either oral or written, heretofore made are expressly merged in and made a part of this Agreement. This Agreement may be amended, or any term
thereof modified, only by a written instrument duly executed by both Parties hereto. 
 9.8. Headings. The captions to the several
Articles and Sections hereof are not a part of this Agreement, but are merely guides or labels to assist in locating and reading the several Articles and Sections hereof. 

9.9. Independent Contractors. It is expressly agreed that Scynexis and Merck shall be independent contractors and that the relationship
between the two Parties shall not constitute a partnership, joint venture or agency. Neither Scynexis nor Merck shall have the authority to make any statements, representations or commitments of any kind, or to take any action, which shall be
binding on the other, without the prior consent of the other Party. 
 9.10. Waiver. The waiver by either Party hereto of any right
hereunder or the failure to perform or of a breach of the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by said other Party whether of a similar nature or otherwise. 

9.11. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. 
 9.12. Waiver of Rule of Construction. Each Party has had the
opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply.

  
 [*] = Certain confidential information contained in this document, marked by
brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

  
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 IN WITNESS WHEREOF, the Parties have duly executed this Agreement to be effective as of the
Effective Date. 
  

									
	MERCK SHARP & DOHME CORP.	 		 	SCYNEXIS, INC.
					
	By:	 	 /s/ Roger J. Pomerantz
	 		 	By:	 	 /s/ Yves Ribeill

		 	Roger J. Pomerantz, M.D., F.A.C.P.	 		 		 	Yves Ribeill
		 	Senior Vice President	 		 		 	President and CEO
		 	Head of Worldwide Licensing & Acquisitions	 		 		 	

 [SIGNATURE PAGE TO TERMINATION AND LICENSE AGREEMENT] 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 1.19 

MATERIALS 
 [*] 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 1.21 

Form of Merck Letter to be Submitted to FDA 
  

 
 John Farley, M.D., M.P.H., Acting Director 

Food and Drug Administration 
 Center for Drug Evaluation and
Research 
 Division of Anti-Infective Products 
 5901-B
Ammendale Road 

			
	Beltsville, MD 20705-1266	  	Serial No.

 Dear Dr. Farley: 

IND 107,521: MK-3118 

Transfer of Ownership of IND 
 Reference is
made to the subject Investigational New Drug (IND) application for MK-3118 for the treatment of fungal infections, which was submitted on January 12, 2010 (Serial No. 0000). 

This letter and the attached signed form FDA 1571 serve as notification of the change in ownership of this IND from Merck Sharp & Dohme Corp, a
subsidiary of Merck & Co, Inc. (Merck) to SCYNEXIS, Inc. The change in ownership becomes effective on 24-05-2013. 
 The new sponsor’s contact
information is: 
 Katyna Borroto-Esoda 
 Director, Clinical
Affairs 
 SCYNEXIS, Inc. 
 3501C Tricenter Boulevard 

Durham, NC 27713 
 Tel: 919-237-4431 

Fax: 919-544-8697 
 Email: Katyna.Borroto-Esoda@scynexis.com 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 Pursuant to the provisions in 21 CFR 312, Section 312.50, all rights and responsibilities associated
with the subject Investigational New Drug application have been transferred to SCYNEXIS, Inc. In addition, the complete IND record has been forwarded to SCYNEXIS, Inc. 

This submission is being submitted in accordance with the current FDA Guidance Documents for the electronic common technical document. This submission is
being transmitted through the FDA’s electronic submission gateway. Merck has taken precautions to ensure that the contents are free of computer viruses (McAfee Agent, McAfee, Inc.), and we authorize the use of anti-virus software, as
appropriate. 
 We consider the information included in this submission to be a confidential matter, and request that the Food and Drug Administration not
make its content, public without first obtaining the written permission of Merck. 
 In my absence questions concerning the content of this submission
should be directed to Laurie MacDonald (267) 305-5540. 
  

	
	 Sincerely,

	
	 Donnette D. Staas, Ph.D.

	 Director

	 Global Regulatory Affairs

  
 [*] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 1.26 

MERCK PROCESS PATENT RIGHTS 
  

															
	 Merck

Reference
	 	 Country
	 	 Application
Number
	 	 Filing

Date
	 	 Publication
Number
	 	 Patent

Number
	 	 Issue

Date
	 	 Status

	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
								
	 Merck

Reference
	 	 Country
	 	 Application
Number
	 	 Filing

Date
	 	 Publication
Number
	 	 Patent

Number
	 	 Issue

Date
	 	 Status

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

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 1.31 

OTHER COMPOUND PATENT RIGHTS 
  

													
	 Merck Reference
	 	 Country
	 	 Application Number
	 	 Filing Date
	 	 Patent Number
	 	 Issue Date
	 	 Status

	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
							
	 Merck Reference
	 	 Country
	 	 Application Number
	 	 Filing Date
	 	 Patent Number
	 	 Issue Date
	 	 Status

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

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

													
	 Merck Reference
	 	 Country
	 	 Application Number
	 	 Filing Date
	 	 Patent Number
	 	 Issue Date
	 	 Status

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

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 1.39 

PROGRAM COMPOUND PATENT RIGHTS 
  

													
	 Merck Reference
	 	 Country
	 	 Application Number
	 	 Filing Date
	 	 Patent Number
	 	 Issue Date
	 	 Status

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

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

													
	 Merck Reference
	 	 Country
	 	 Application Number
	 	 Filing Date
	 	 Patent Number
	 	 Issue Date
	 	 Status

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

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 1.41 

PROGRAM DOCUMENTATION 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
		 	 SCHEDULE 1.41

PROGRAM DOCUMENTATION
	  	

  

							
	 Source Area
	  	 Additional Information
	  	 Suggested Mode
of Transfer-
Electronic or
Paper
	  	 Completion
Date

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

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

					
		 	 SCHEDULE 1.41

PROGRAM DOCUMENTATION
	  	

  

					
	 Source Area
	  	 Scynexis Questions/Comments
	  	 Merck Response

	[*]	  	[*]	  	[*]

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 1.45 

Scynexis Letter to be Submitted to FDA 
  

 
 May 28, 2013 
 John
Farley, M.D., M.P.H., Acting Director 
 Food and Drug Administration 

Center for Drug Evaluation and Research 
 Division of
Anti-Infective Products 
 5901-B Ammendale Road 

			
	Beltsville, MD 20705-1266	  	Serial No.            

 Dear Dr. Farley: 

IND 107,521: MK-3118 

Transfer of Ownership of IND 
 Reference is
made to the subject Investigational New Drug (IND) application for MK-3118 for the treatment of fungal infections, which was submitted on January 12, 2010 (Serial No. 0000). Reference is also made to the letter dated [xx-xx-2013] from Merck
Sharp & Dohme Corp. with regard to IND 107,521 (Serial # YYYY, see attached). 
 This letter and the attached signed form FDA 1571 serve as
confirmation of the acceptance by SCYNEXIS, Inc. of the transfer of ownership of the aforementioned IND from Merck Sharp & Dohme Corp, a subsidiary of Merck & Co, Inc. (Merck) to SCYNEXIS, Inc. The change in ownership becomes
effective on 24-05-2013. 
 The contact information for SCYNEXIS, Inc. is: 

Katyna Borroto-Esoda 
 Director, Clinical Affairs 

SCYNEXIS, Inc. 
 3501C Tricenter Boulevard 

Durham, NC 27713 
 Tel: 919-237-4431 

Fax: 919-544-8697 
 Email: Katyna.Borroto-Esoda@scynexis.com 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 Pursuant to the provisions in 21 CFR 312, Section 312.50, all rights and responsibilities associated
with the subject Investigational New Drug application are hereby accepted by SCYNEXIS, Inc. 
 We consider the information included in this submission to be
a confidential matter, and request that the Food and Drug Administration not make its content, public without first obtaining the written permission of Scynexis, Inc. 

In my absence questions concerning the content of this submission should be directed to Yves Ribeill at yves.ribeill@scynexis.com or 919-544-8602. 

 

	
	Sincerely,
	
	Katyna Borroto-Esoda
	Director, Clinical Affairs
	SCYNEXIS, Inc.

  
 [*] = Certain confidential information contained
in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 2.5 

Specific End Use Statement for Prototype Material 

[To be printed on Scynexis company letterhead] 
 Port Director

 United States Customs and Border Protection 
  

			
	Re:	  	MK-3118, a semi-synthetic derivative of the natural product enfumafungin

 Dear Customs Officer: 
 Please
be advised that the material referenced above imported by Merck Sharp & Dohme Corp. is pharmaceutical active ingredient to be used exclusively by Scynexis, Inc. for pharmaceutical-related research, development, product evaluation, testing
and quality control purposes. The merchandise is imported in normal non-commercial quantities in accordance with industry practice, and will not be sold after importation or incorporated into other products that are sold. For these reasons the
merchandise is being entered under Heading 9817.85.01. Based on General Rules of Interpretation 3(c) the underlying classification of the material is 2935.00.7500. 
  

	
	Very truly yours,
	
	Name
	Title
	Location
	Phone

  
 [*] = Certain confidential information contained in this
document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 4.4 

FORM OF PRESS RELEASE 

SCYNEXIS Gains Worldwide Rights to Novel Antifungal Compound 

—First Oral Glucan Synthase Inhibitor Ready to Enter Phase II Trials— 

Research Triangle Park, NC (DATE) – SCYNEXIS, Inc. announced today that Merck, known as MSD outside the United States and Canada, has decided to return
to SCYNEXIS all development and commercialization rights for the novel antifungal compound, MK-3118, an oral glucan synthase inhibitor being developed for the treatment of systemic fungal diseases. This decision was made following a review and
prioritization of Merck’s infectious disease portfolio. 
 In 2002, SCYNEXIS and Merck announced an exclusive license and research agreement focused on
antifungal discovery and development of treatments for invasive fungal infections such as Candida and Aspergillus. MK-3118 is the first compound developed under the agreement to have completed Phase I studies and be ready to enter
Phase IIb studies. 
 “We have enjoyed a successful collaboration with our Merck colleagues and will continue to advance the clinical development of
MK-3118, now SCY-078, to help a growing and under-served patient population,” said Yves Ribeill, PhD, president and chief executive officer, SCYNEXIS. “The addition of this anti-fungal platform to our portfolio expands our pipeline and
positions SCYNEXIS as a leading anti-infective company.” 
 “Working together, we have made good progress in advancing MK-3118 to this clinical
stage,” said Roger Pomerantz, senior vice president and head, Worldwide Licensing and Knowledge Management, Merck. “Merck continues to advance its infectious disease pipeline and remains committed to delivering medicines in this important
therapeutic area.” 
 Under the terms of the agreement, SCYNEXIS will receive all rights to MK-3118, including a transfer from Merck to SCYNEXIS of the
pre-clinical, IND and Phase I data packages. The company plans to progress the clinical development while simultaneously evaluating new partnership opportunities. Merck will be eligible to receive milestones and royalties. 

Data on this novel compound have been presented at the 49th and 50th Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC) and published in multiple journals including the May 2012 issue of Bioorganic & Medicinal Chemistry Letters
and the November 2012 issue of the Journal of Antimicrobial Chemotherapy. 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 About SCY-078 (formerly MK-3118) 

SCY-078/MK-3118 is the first oral glucan synthase inhibitor being developed for the treatment of systemic fungal diseases. SCY-078/MK-3118 is a semi-synthetic
derivative of the natural product enfumafungin—a structurally distinct class of glucan synthase inhibitors. Glucan synthase inhibitors have been very effective in treating invasive fungal infections in a hospital setting, but are currently only
available as an intravenous dosing option. 
 About SCYNEXIS 

SCYNEXIS delivers innovative solutions to solve the toughest problems in drug discovery and development for our pharmaceutical, global health and life science
partners. Our contract research and development services include Integrated Pharmaceutical Solutions, Discovery Research and Integrated Parasitology. We have successfully delivered preclinical and clinical drug candidates to our customers across all
major therapeutic indications and have developed our own proprietary cyclophilin inhibitor programs for the treatment of a broad range of diseases, including HCV, HBV and inflammation. For more information, visit www.scynexis.com. 

 
 [*] = Certain confidential information contained in this document, marked by brackets,
has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 

 

 
  

 SCHEDULE 6.2 

[*] 
  

[*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange
Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.

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