Document:

Exhibit 10.1

 

Investment Agreement

 

Dated October 4, 2021

 

by and among

 

		1.	Investor

 

		1.1	Helix Acquisition Corp., c/o Cormorant Asset Management LLP, 200 Clarendon St., 52nd Floor,
Boston, MA 02116

 

(“Investor”)

 

		2.	Founders

 

		2.1	Jonkheer Arnout Michiel Ploos van Amstel

 

(“Founder 1”)

 

		2.2	Dr. Jorge Santos da Silva

 

(“Founder 2”)

 

		2.3	JeruCon Beratungsgesellschaft mbH, Alte Rabenstrasse 10a, 20148 Hamburg, Germany

 

(“Founder 3”)

 

			(Founder 1, Founder 2, and Founder 3 collectively “Founders” and individually a
                                                                            “Founder”)

 

		3.	Other Shareholders

 

		3.1	Biotechnology Value Fund, L.P., 44 Montgomery Street, 40th Floor, San Francisco, CA 94104,
USA

 

(“Other Shareholder 1”)

 

		3.2	Biotechnology Value Fund II, L.P., 44 Montgomery Street, 40th Floor, San Francisco, CA 94104,
USA

 

(“Other Shareholder 2”)

 

		3.3	Biotechnology Value Trading Fund OS, L.P., PO Box 309 Ugland House, Grand Cayman, KY1-1104, Cayman Islands

 

(“Other Shareholder 3”)

 

     

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		3.4	Merck Healthcare KGaA, Darmstadt, Germany, an affiliate of Merck KGaA, Darmstadt, Germany, Frankfurter
Strasse 250, 64293 Darmstadt, Germany

 

(“Other Shareholder 4”)

 

		3.5	Florian Schönharting

 

(“Other Shareholder 5”)

 

		3.6	Simon Sturge

 

(“Other Shareholder 6”)

 

		3.7	Matthias Bodenstedt

 

(“Other Shareholder 7”)

 

		3.8	Atif Khan

 

(“Other Shareholder 8”)

 

		3.9	Eva Cullen

 

(“Other Shareholder 9”)

 

		3.10	Oliver Daltrop

 

(“Other Shareholder 10”)

 

		3.11	Nuala Brennan

 

(“Other Shareholder 11”)

 

			(Other Shareholder 1 through to Other Shareholder 11 collectively, “Other
                                                                                Shareholders” and individually, an “Other Shareholder”)

 

			(Founders and Other Shareholders collectively, “Existing Shareholders” and
                                                                                individually, an “Existing Shareholder”)

 

and

 

		4.	Company

 

			MoonLake Immunotherapeutics AG (CHE-433.093.536), c/o KD Zug-Treuhand AG, Untermüli 7, 6302
                                                                                Zug, Switzerland

 

(“Company”)

 

			(Company, Investor and Existing Shareholders, collectively “Parties” and each
                                                                                individually a “Party”)

 

     

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Table of Contents

 

	List of Annexes	5
	 	 	 	 	 
	1.	Definitions	7
	 	 	 	 	 
	2.	Current Equity Structure of the Company	8
	 	 	 	 	 
	3.	Structure of Investment and General Undertakings	8
	 	3.1	Structure of Investment	8
	 	3.2	General Undertakings	9
	 	 	 	 	 
	4.	Nominal Capital Increase	9
	 	4.1	Determination of Preliminary Investment Amount and Number of Company Class V Voting Shares	9
	 	4.2	Extraordinary General Meeting of Shareholders	9
	 	 	4.2.1	Undertakings of Existing Shareholders and Company	9
	 	 	4.2.2	Waiver of Subscription rights	10
	 	 	4.2.3	Resolutions to be passed by Extraordinary General Meeting	10
	 	4.3	Subscription for Class V Voting Shares	10
	 	 	4.3.1	Undertaking to Subscribe	10
	 	 	4.3.2	Payment of Preliminary Nominal Subscription Amount by Investor	10
	 	 	 	 	 
	5.	BVF Share Transfers	12
	 	 	 
	6.	Contribution	11
	 	 	 	 	 
	7.	Conduct of Business until Closing	11
	 	 	 	 	 
	8.	Stock Option Restriction - No Issuances of New Shares	11
	 	 	 	 	 
	9.	Accession	12
	 	 	 	 	 
	10.	Actions and Deliveries prior to Closing	12
	 	 	 	 	 
	11.	Closing	14
	 	11.1	Place and Date of Closing	14
	 	11.2	Conditions Precedent to Closing	14
	 	11.3	Closing Actions and Deliveries	15
	 	11.4	Issuance of New Voting Shares	16
	 	 	 	 	 
	12.	Termination and Rescission before Closing	16
	 	 	 	 	 
	13.	Post-Closing Actions	16
	 	13.1	Immediate Wiring of the Cash Contribution	16
	 	13.2	Confirmations and Filings	17
	 	13.3	Share Re-Transfer	17
	 	 	 	 	 
	14.	Representations and Warranties	18
	 	14.1	Representations and Warranties of Existing Shareholders and Company	18
	 	14.2	Representations and Warranties of Investor	18
	 	14.3	Exclusive Representations and Warranties	18

 

     

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	15.	Remedies	19
	 	15.1 Notice of Breach (Rügefrist)	19
	 	15.2 Time Limitations on Claims	19
	 	15.3 Remedies of Investor	19
	 	15.4 Limitations on Liability 	20
	 	15.5 Remedies of Existing Shareholders and Company	20
	 	15.6 Remedies Exclusive	20
	 	 	 	 	 
	16.	Miscellaneous	21
	 	16.1 Nature of Parties’ Rights and Obligations	21
	 	16.2 Confidentiality	21
	 	16.3 Successors and Assigns	22
	 	16.4 Costs and Expenses, Taxes	22
	 	16.5 Notices	22
	 	16.6 Entire Agreement	23
	 	16.7 Severability	23
	 	16.8 Amendments	23
	 	16.9 Waiver of Rights	23
	 	16.10 Form Requirements	23
	 	 	 	 	 
	17.	Governing Law and Arbitration	24
	 	17.1 Governing Law	24
	 	17.2 Arbitration	24
	 	17.3 Trust Account Waiver	24

 

     

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List of Annexes

 

	Annex 1:	Defined Terms
	Annex 2:	Current Cap Table
	Annex 4.2.2:	Cap Table after Closing
	Annex 4.2.3:	Articles
	Annex 5(c):	Form of Assignment Declaration regarding Transferred Common Shares
	Annex 13.3:

	Form of Assignment Declaration

	Annex 11.3(f): 	Form of Restated and Amended Shareholders’ Agreement
	Annex 14.1-1:	Representations and Warranties of Existing Shareholders (other than the Other Shareholder 4) and Company
	Annex 14.1-2:	Representations and Warranties of the Other Shareholder 4
	Annex 14.2:	Representations and Warranties of the Investor

 

     

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Recitals 

 

		(A)	The Company is organized in the form of a Swiss stock corporation (Aktiengesellschaft) registered
with the commercial register of the Canton of Zug under the number CHE-433.093.536 having its registered office at c/o KD Zug-Treuhand
AG, Untermüli 7, 6302 Zug, Switzerland.

 

		(B)	As at the date of this Agreement, the Company has an issued statutory share capital in the nominal amount
of CHF 104,072.50, divided into 1,040,725 fully paid-in registered shares with a nominal value of CHF 0.10 each, of which 360,529
are common shares (Stammaktien) (“Common Shares”) and 680,196 are series A preferred shares (Vorzugsaktien
Kategorie A) (“Series A Preferred Shares” and together with the Common Shares, the “Existing Shares”).
The Company has also a conditional share capital to source the employee equity incentive plans allowing an increase of the nominal share
capital by, as at the date of this Agreement, a maximum amount of CHF 2,947.10 by issuing a maximum of 29,471 registered Common Shares
(“Conditional Capital”).

 

		(C)	The Company’s core business is the research, development, manufacturing and marketing of biotechnological,
pharmaceutical and similar products in Switzerland and abroad (“Business”).

 

		(D)	At the date hereof, the Parties enter into a business combination agreement
(“BCA”) under which, amongst others, the Other Shareholders undertake to convert the Series A Preferred Shares into
an equal number of Common Shares (“Share Conversion”), elect the new Directors and the Investor undertakes to subscribe
for and acquire such number of newly issued registered preferred voting shares (Stimmrechtsaktien) in the Company with a par value
of CHF 0.01 each (“Class V Voting Shares”; due to its lower par value each Class V Voting Share having ten times
the voting power of an Existing Share), and the Other Shareholder 1, the Other Shareholder 2, and the Other Shareholder 3
(collectively “BVF Parties” and individually a “BVF Party”) each undertakes to transfer on the Closing
Date its Common Shares (for the avoidance of doubt, after the Share Conversion will have taken place) to the Investor in exchange for
Class A Ordinary Shares of the Investor (“BVF Share Transfers”). On the closing of the BCA, the Investor holds at least
80% of the sum of the Company’s voting rights with respect to the issued and outstanding share capital and further Common Shares
issuable under the Conditional Capital, i.e. on a fully diluted basis.

 

		(E)	Considering that:

 

		●
                                	The
                                            USD amount of the Investor’s investment in the Company and the corresponding number
                                            of Class V Voting Shares to be acquired by the Investor, both to be calculated in accordance
                                            with the provisions of the BCA (the so calculated amount, the “Preliminary Investment
                                            Amount” and the corresponding number of Class V Voting Shares to be acquired by
                                            the Investor the “Investor’s Preliminary Class V Voting Shares”),
                                            can only be determined four (4) Business Days before the closing of the transactions contemplated
                                            under the BCA (“BCA Closing”);

 

		●
                                	The
                                            final amount of the Investor’s investment in the Company (“Available Closing
                                            Date Cash”), which is defined in the BCA and shall be calculated in accordance
                                            with the provisions of the BCA, shall not be less than USD 150,000,000 (the “Minimum
                                            Investment Amount”);

 

     

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		●
                                	The
                                            Investor’s Class V Voting Shares have to be available to the Investor on the very day
                                            of the Closing;

 

		●
                                	The
                                            Preliminary Investment Amount is funded, inter alia, by a private investment in public equity
                                            transaction, conducted by the Investor prior to the BCA Closing (“PIPE Transaction”),
                                            and certain of the funds promised to be paid under the PIPE Transaction may be delayed or
                                            not paid at all and that it is therefore possible that the Available Closing Date Cash is
                                            lower than the Preliminary Investment Amount; and

 

		●
                                	If
                                            the Available Closing Date Cash on the Closing Date is lower than the Preliminary Investment
                                            Amount (but, for the avoidance of doubt, higher than the Minimum Investment Amount), the
                                            difference, if any, between (y) the Investor’s Preliminary Class V Voting Shares and
                                            (z) the number of Class V Voting Shares corresponding to the Available Closing Date Cash
                                            (“Investor’s Final Class V Voting Shares”) shall be, at the election
                                            of the Company (such election to be communicated by the Company to the Investor no later
                                            than five (5) Business Days following the Closing Date), repurchased by and re-transferred
                                            to the Company against payment by the Company of the nominal value for each retransferred
                                            Class V Voting Share following the Closing.

 

		(F)	Accordingly, the Company intends (i) to implement the Share Conversion, (ii) to increase its share capital
by way of issuance of the fully paid-in Investor’s Preliminary Class V Voting Shares, thereby increasing its issued share capital
by the Determined Nominal Amount, (iii) to detail the process for contributing the remaining investment amounts for the Investor’s
Final Class V Voting Shares to the Company, and (iv) to detail the process for the repurchase and re-transfer of such number of Class
V Voting Shares corresponding to the difference between the Investor’s Preliminary Class V Voting Shares and the Investor’s
Final Class V Voting Shares, if any, from the Investor to the Company following the Closing for the nominal value of the number of re-transferred
Class V Voting Shares.

 

		(G)	Accordingly, the BVF Parties intend to undertake and implement the BVF Share Transfers.

 

		(H)	The Parties wish to determine in this Agreement their respective rights and obligations in relation to
the Investor’s investment in the Company, including the subscription and issuance of new Class V Voting Shares in the Company and
payment of the respective investment amounts to the Company.

 

Now, therefore, the Parties have concluded the
following Agreement:

 

		1.	Definitions

 

For purposes of this Agreement, except
as otherwise set forth herein, capitalized terms shall have the meanings set forth in Annex 1.

 

     

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		2.	Current Equity Structure of the Company

 

		(a)	As at the date of this Agreement, the Company has an issued statutory share capital in the nominal amount
of CHF 104,072.50, divided into 1,040,725 registered shares (Namenaktien) with a nominal value of CHF 0.10 per share,
of which 360,529 are Common Shares and 680,196 are Series A Preferred Shares, all of which are fully paid-in.

 

		(b)	The Company has an outstanding conditional capital (bedingtes Kapital) of CHF 2,947.10, allowing
for the issuance of up to 29,471 registered Common Shares in connection with the Company’s employee equity incentive plans. The
Company has no treasury shares (eigene Aktien).

 

		(c)	The ownership structure of the Company as of the date of this Agreement is set out in the cap table set
forth in Annex 2.

 

		3.	Structure of Investment and General Undertakings

 

		3.1	Structure of Investment

 

		(a)	The investment by the Investor into the Company, as contemplated herein, will be made (x) as a direct
equity investment, whereby the Investor shall subscribe for and acquire newly issued Class V Voting Shares and (y) make a cash contribution;
(x) and (y) totaling in the amount of the Available Closing Date Cash subject to the terms and conditions of this Agreement (“Investment”).

 

		(b)	On the basis of the commitments and undertakings of the Parties, the Investment will be structured and
implemented through the following steps and elements:

 

		(i)	The Investor shall first subscribe for and acquire a number of Investor’s Preliminary Class V Voting
Shares (determined in accordance with the BCA and Section 4.1 of this Agreement) at an issue amount of CHF 0.01 per Class V Voting
Share against payment of CHF 0.01 per Class V Voting Share, to be created and issued in the course of an ordinary capital increase
of the Company (“Nominal Capital Increase”, as further detailed and set forth in Section 4), and, subsequently,

 

		(ii)	the Investor shall commit and contribute to the Company an amount equal to the Available Closing Date
Cash minus the Preliminary Nominal Subscription Amount (as defined below), as a contribution to the reserves from capital contributions
(Kapitaleinlagereserven) of the Company without the issuance of new shares (Kapitalzuschuss) (“Cash Contribution”,
as further detailed in Section 6); always subject to satisfaction or waiver of the applicable conditions precedent.

 

     

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		(iii)	Should the Available Closing Date Cash be lower than the Preliminary Investment Amount and, therefore,
the number of Investor’s Final Class V Voting Shares be lower than the number of Investor’s Preliminary Class V Voting Shares,
the Company may elect the difference to be adjusted (such election to be communicated by the Company to the Investor no later than five
(5) Business Days following the Closing Date). The adjustment, if any, shall be effected through a repurchase of such number of Class
V Voting Shares corresponding to the difference between the Investor’s Preliminary Class V Voting Shares and the Investor’s
Final Class V Voting Shares by the Company from the Investor at nominal value and a re-transfer and assignment of such number of Class
V Voting Shares to the Company, following the Closing (“Share Re-Transfer”, as further detailed in Section 13.3).

 

		3.2	General Undertakings

 

In order to give effect to the Nominal
Capital Increase and the Cash Contribution on the terms and subject to the conditions of this Agreement:

 

		(i)	the Investor will make available to the Company the Available Closing Date Cash (as defined in Section
1.1 of the BCA); and

 

		(ii)	each of the Existing Shareholders and the Company hereby undertakes to the Investor to generally use their
powers and take all actions and execute all documents required to effect the transactions contemplated by this Agreement, to effect the
Share Conversion, to elect the new Directors and to consummate the Nominal Capital Increase, the Cash Contribution and/or the Share Re-Transfer
(if any) in accordance with the terms and conditions hereof.

 

		4.	Nominal Capital Increase

 

		4.1	Determination of Preliminary Investment Amount and Number of Company Class V Voting Shares

 

No later than four (4) Business Days
prior to Closing, the Parties shall determine the Preliminary Investment Amount and the number of Investor’s Preliminary Class V
Voting Shares based on the provisions and mechanisms agreed upon in the BCA.

 

		4.2	Extraordinary General Meeting of Shareholders

 

		4.2.1	Undertakings of Existing Shareholders and Company

 

Each of the Existing Shareholders
and, in respect of sub-paragraph (i) below, the Company hereby undertakes to the Investor to:

 

		(i)	procure that an extraordinary general meeting of shareholders of the Company (“Extraordinary
General Meeting”) is convened in a timely manner and takes place one (1) Business Day prior to the Closing Date (the “EGM
Date”);

 

		(ii)	procure that a special meeting of the holders of the Series A Preferred Shareholders pursuant to article
654 CO is convened in a timely manner, which shall be integrated in the Extraordinary General Meeting; and

 

		(iii)	approve, or procure that the Proxy Holder approves, the resolutions to be taken by the Extraordinary General
Meeting in accordance with Section 4.2.3.

 

     

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		4.2.2	Waiver of Subscription rights

 

Each of the Existing Shareholders
hereby unconditionally and irrevocably waives all of its subscription rights (Bezugsrechte) in connection with the Nominal Capital
Increase and hereby agrees that the Company allocates the appropriate number of Class V Voting Shares in the Nominal Capital Increase
exclusively to the Investor in accordance with this Agreement and the updated cap table as at the Closing Date.

 

A preliminary cap table is attached
hereto in Annex 4.2.2, which shall be updated following the determination pursuant to Section 4.1 as at Closing
(the “Updated Cap Table”).

 

		4.2.3	Resolutions to be passed by Extraordinary General Meeting

 

The following resolutions shall be
passed at the Extraordinary General Meeting:

 

		(i)	to convert the Series A Preferred Shares with immediate effect into Common Shares of the Company;

 

		(ii)	to replace the Existing Articles by, and adopt, the Articles substantially in the form attached hereto
as Annex 4.2.3;

 

		(iii)	to increase the nominal statutory share capital of the Company by the Determined Nominal Amount through
the issuance of the Investor’s Preliminary Class V Voting Shares, each at the issue price of CHF 0.01 (“Nominal Issue
Price”), without restricting or cancelling the subscription rights of the Existing Shareholders but with the Existing Shareholders
waiving their subscription right; and

 

		(iv)	to elect the following persons as new Directors with effect as of their acceptance of the election:

 

Andrew Phillips,
or, in case of unavailability or incapacity, any other person nominated by the Investor; and

 

Dr. Jorge Santos da Silva, or, in case of unavailability or incapacity, any other person nominated by the Existing Shareholders.

 

		4.3	Subscription for Class V Voting Shares

 

		4.3.1	Undertaking to Subscribe

 

		(a)	Subject to the terms and conditions of this Agreement, the Investor shall subscribe for the Investor’s Preliminary Class V Voting Shares, each at the Nominal Issue
Price, for an aggregate subscription amount corresponding to the Determined Nominal Amount (“Preliminary Nominal Subscription
Amount”).

 

		(b)	For this purpose, the Investor hereby undertakes to execute and deliver to the Company its duly executed
Subscription Form no later than three (3) Business Days prior to the Closing Date.

 

		4.3.2	Payment of Preliminary Nominal Subscription Amount by Investor

 

No later than two (2) Business Days
before the EGM Date, the Investor shall pay the Preliminary Nominal Subscription Amount (in CHF) to the following blocked capital account
of the Company with UBS AG (Kapitaleinzahlungssperrkonto), or any other blocked capital account of the Company which is to be communicated
by the Company to the Investor in writing at least ten (10) Business Days prior to the Closing Date:

 

	Bank:	 
	 	 
	In favor of:	 
	 	 
	IBAN No:	 
	 	 
	SWIFT:	 
	 	 
	Reference:	 

 

     

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	5.	BVF Share Transfers

 

		(a)	As
                                            set forth in section 2.2(g) of the BCA, each BVF Party hereby undertakes to transfer and
                                            shall assign to the Investor on the Closing Date all of the Common Shares held by such BVF
                                            Party in exchange for Class A Ordinary Shares (as detailed in the BCA) at the Closing Date
                                            as follows:

 

		(i)	the
                                            Other Shareholder 1 shall transfer and assign 283,412 Common Shares to the Investor;

 

		(ii)	the
                                            Other Shareholder 2 shall transfer and assign 230,137 Common Shares to the Investor; and

 

		(iii)	the
                                            Other Shareholder 3 shall transfer and assign 36,451 Common Shares to the Investor (the Common
                                            Shares are referred to in (i) to (iii) collectively as the “Transferred
                                            Common Shares”).

 

	 	(b)	The
                                            Investor hereby undertakes to receive and accept on the Closing Date from each BVF Party
                                            such number of Common Shares as indicated in subsections (i) to (iii) of the preceding paragraph.

 

	 	(c)	On
                                            the Closing Date, in order to transfer and assign the Transferred Common Shares to the Investor,
                                            each BVF Party shall duly sign and deliver to the Investor a written assignment declaration
                                            (Abtretungserklärung),
                                            with a copy to the Board, substantially in the form of Annex
                                            5(c), for the avoidance of doubt, the form requirements
                                            as set forth in the first paragraph of Section 16.10 shall not apply with respect to the
                                            assignment declaration; these assignment declarations shall be executed in wet ink form.

 

	 	(d)	The
                                            details on the allocation of and/or transfer of Class A Ordinary Shares by the Investor to
                                            each of the BVF Parties in exchange for the Transferred Common Shares are set forth in the
                                            BCA (including the actions for completing such actions).

 

		6.	Contribution

 

The Investor hereby
undertakes to contribute to the Company the Cash Contribution into an Investor US bank account and in accordance with the terms of a written
short form contribution agreement (the “Cash Contribution Agreement”), subject to the fulfillment or waiver of the
conditions precedent as per Section 11.2 and subject to the adjustment mechanism in Section 13.3.

 

		7.	Conduct of Business until Closing

 

The Company shall,
and each of the Existing Shareholders hereby undertakes to procure that the Company will, operate its Business in the ordinary course
in accordance with past practice, except as explicitly provided by this Agreement or with the prior written consent of the Investor (such
consent not to be unreasonably withheld or delayed), from the date of this Agreement until the Closing Date.

 

		8.	Stock Option Restriction - No Issuances of New Shares

 

		(a)	Each Existing Shareholder and the Company undertake to the Investor and shall procure and instruct the
relevant corporate or appointed bodies (incl. the Administrator, as defined in the Employee Share Participation Plan and/or the Employee
Stock Option Plan; together the “Plans”) that from 31 October 2021 (“Cut-Off Date”) until the
Closing Date no option rights, equity grants, or similar instruments from or referring to the Conditional Capital (including options under
the Plans or any other employee equity incentive schemes or arrangements of the Company) or any other options for Shares of the Company
(“Stock Options”) are granted by the Company or exercised by any of the employees of the Company or other persons with
the effect that no new Shares in the Company are issued during that period (“Stock Option Restriction”).

 

		(b)	Each of the Existing Shareholders and the Company shall perform all actions necessary to ensure compliance
with the Stock Option Restriction, including, without limitation, to amend and/or to procure that all documents related to outstanding
option rights, equity grants, or similar instruments from or referring to the Conditional Capital or allowing for the acquisition of Shares
in the Company, including, without limitation, the Plans or any other relevant documents relating thereto, are amended, as appropriate,
and to seek consent from eligible employees or other persons so that the Stock Option Restriction is adhered to.

 

     

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		(c)	Each Existing Shareholder and the Company undertake to the Investor and shall procure and instruct the
relevant corporate bodies and/or its representatives on the Board that no amendments to the Company’s capital structure will be
approved and/or made by the shareholders meeting of the Company including, without limitation, that the shareholders meeting shall not
resolve on the creation of new share or participation capital (through an ordinary capital increase), new conditional capital and/or new
authorized capital. For the avoidance of doubt, the grant of Stock Options and the exercise of Stock Options as well as the allocation
of Shares to employees of the Company under the Plans are not considered to be a prohibited amendment of the Company’s capital structure
and shall remain permitted (subject to compliance with the undertakings set forth in Sections 10(a) and 10(b)), as long as only the
currently existing Conditional Capital is used as the underlying for the Stock Options / allocations of such Shares.

 

		9.	Accession

 

		(a)	Each of the Existing Shareholder and the Company undertakes to the other Parties that no person or entity
shall become a holder of Shares in the Company (including through the exercise of Stock Options), other than provided for in this Agreement,
unless and until such person or entity shall first have submitted to the Company an accession declaration satisfactory to the Company
and the Investor pursuant to which such person or entity agrees to be fully bound by and be entitled pursuant to the terms and conditions
of this Agreement. The Parties agree that the accession of a third party may take place by unilateral declaration to the Company (representing
the Existing Shareholders) and the Investor. Any party acceding to this Agreement in the foregoing sense shall be deemed as from the time
of accession an Existing Shareholder (as defined and used herein) for the purpose of this Agreement with corresponding rights and obligations.

 

		(b)	Upon accession to this Agreement as set forth in this Section 9, the relevant cap tables annexed
to this Agreement shall be amended accordingly.

 

		10.	Actions and Deliveries prior to Closing

 

Prior to Closing,
the relevant Party shall procure that (i) the following documents shall be delivered, in each case duly executed and in form and substance
satisfactory to the Company and the Investor, respectively, and (ii) the following actions shall be performed:

 

		(a)	as soon as practical after signing, but in no event after the Cut-Off Date, the Company shall deliver
to the Investor drafts of the Corporate Documents necessary for the adoption of the Articles, the Share Conversion, the Nominal Capital
Increase and the changes to the Board, all as contemplated herein, in form and substance satisfactory to the Investor;

 

     

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		(b)	as soon as practical after signing the Company undertakes to obtain a formal positive pre-clearance (Vorprüfung)
regarding the Corporate Documents from the commercial register of the Canton of Zug. The Company undertakes and shall procure that the
processing of the Pre-Closing Application (as defined below) will be pre-registered (vorerfasst) by the commercial register of
the Canton of Zug prior to the EGM Date and that the Pre-Closing Application will be dealt with in the pre-registration procedure (Vorerfassungsverfahren)
when submitted to the commercial register of the Canton of Zug on the EGM Date;

 

		(c)	each Existing Shareholder shall deliver its written power of attorney (Vollmacht) for the Extraordinary
General Meeting authorizing the Proxy Holder to vote on and approve all resolutions set forth in Section 4.2.3 no later than three
(3) Business Days prior to the EGM Date or participate in person at the Extraordinary General Meeting to vote on the resolution items;

 

		(d)	the Investor shall deliver a copy of the duly signed original of its Subscription Form in accordance with
Section 4.3.1 two (2) Business Days prior to the EGM Date and the original of the Subscription Form on the EGM Date;

 

		(e)	the Investor shall deliver a copy of the payment confirmation regarding the Preliminary Nominal Subscription
Amount made by the Investor in accordance with Section 4.3.2 no later than two (2) Business Days prior to the EGM Date;

 

		(f)	the Company shall deliver confirmation from the bank maintaining the blocked capital account of the Company
evidencing that the Preliminary Nominal Subscription Amount has been paid in cash and fully credited to the Company’s blocked account
specified in Section 4.3.2 no later than two (2) Business Days prior to the EGM Date;

 

		(g)	the Extraordinary General Meeting shall be held on the EGM Date in the presence of a notary approving:
(1) the Nominal Capital Increase, (2) the creation of the Investor’s Preliminary Class V Voting Shares as set forth herein, (3)
the adoption of the Articles and in particular the Share Conversion, and (4) the election of the new Directors;

 

		(h)	the Board shall – immediately after the Extraordinary General Meeting on the EGM Date – issue
its report regarding the capital increase (Kapitalerhöhungsbericht) and one or several members of the Board shall take the
resolution on the ascertainment and the execution of the Nominal Capital Increase (Feststellungsbeschluss) in the presence of a
notary;

 

		(i)	the Investor and the Company, as applicable, shall deliver the acceptance declarations of the new Directors
(Wahlannahmeerklärung) nominated by the Investor and the Company, as applicable, together with duly legalized and apostilled
specimen signature sheets (Unterschriftenmuster) at the latest one (1) Business Day prior to the EGM Date;

 

		(j)	the Board shall file – on the EGM Date immediately after performance of the actions set forth in
Sections 10(g) and 10(h) – with the competent commercial register of the Canton of Zug a duly signed application to the commercial
register of the Canton of Zug regarding (1) the increase of the share capital to reflect the Nominal Capital Increase, (2) the creation
of Voting Shares (Stimmrechtsaktien) as a new class of shares, (3) the adoption of the Articles (incl. the Share Conversion), and
(4) the election of the new Directors, (“Pre-Closing Application”) and shall ensure that the Pre-Closing Application
is processed in a pre-registration procedure (Vorerfassungsverfahren) as previously confirmed by the competent authority;

 

     

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		(k)	the Board shall deliver to the Investor a duly executed confirmation by the Commercial Register that
                                                                   the Pre-Closing Application has been filed; and

 

		(l)	the Investor shall provide the Company with a notification of the ultimate beneficial owners within the
meaning of article 697j CO.

 

		11.	Closing

 

		11.1	Place and Date of Closing

 

The Closing shall take place on the
date as set forth in the BCA, at a place mutually agreed upon by the Investor and the Company (“Closing Date”).

 

		11.2	Conditions Precedent to Closing

 

The Closing shall be subject to the
prior fulfilment (or waiver by the Investor or the Existing Shareholders, respectively) of each of the following conditions precedent:

 

		(i)	the delivery of the drafts of the Corporate Documents to the Investor as per Section 10(a) prior to
the EGM Date, in form and substance reasonably satisfactory to the Investor;

 

		(ii)	the receipt by the Company from the commercial register of the Canton of Zug of a formal positive pre-clearance
(Vorprüfungsbescheid) regarding the Corporate Documents and a confirmation that the processing of the Pre-Closing Application
will be dealt with in the pre-registration procedure (Vorerfassungsverfahren), at the latest three (3) Business Days prior to the
EGM Date;

 

		(iii)	the delivery of copies of the duly executed Corporate Documents to the Investor, evidencing the performance
of the actions prior to Closing referred to in Section 10, in form and substance reasonably satisfactory to the Investor;

 

		(iv)	subject to the Permitted ESOP Allocations and the Permitted ESPP Allocations (both as defined in the Company
and ML-Parties’ Disclosure Letter as attached to BCA) until the Cut-Off Date (“Permitted Allocations”), the issued
and outstanding share capital and the Conditional Capital of the Company remained unchanged, no other share or participation or authorized
capital have been created, and reflect the numbers as stated in Recital (B). In particular, between the date of this Agreement and
the Closing Date, no option rights, equity grants, or similar instruments from the Conditional Capital have been granted to or exercised
by any employees of the Company or any other persons and the cap table as attached in Annex 2, other than the Permitted
Allocations, was still accurate at the EGM Date (i.e. immediately before the performance of the actions before Closing as per Sections 10(g)
through 10(k)) and the Closing Date; and

 

		(v)	the satisfaction or waiver of all conditions precedent under the BCA, save for the condition that all
conditions precedent in this Agreement are satisfied or waived.

 

     

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		11.3	Closing Actions and Deliveries

 

At Closing, the relevant Party shall
procure that (i) the following documents shall be delivered, in each case duly executed and in form and substance satisfactory to the
Company, the Investor and the Existing Shareholders, respectively, and (ii) the following actions shall be performed:

 

		(a)	the Board shall deliver a scan of the duly certified excerpt from the commercial register of the Canton
of Zug evidencing the registration of all items of the Pre-Closing Application after approval from the Swiss Federal Commercial Registry
Office (EHRA) but before publication in the SOGC;
	 	 	 
	 	(b)	each BVF Party shall deliver to the Investor a duly signed assignment declaration regarding the assignment of the respective Transferred
Common Shares;

 

		(c)	the Board shall take the circular resolution (i) approving the transfer of the Transferred Common
                                                                   Shares from the BVF Parties to the Investor and (ii) evidencing the entry of the Investor in the Company’s share
                                                                   register as the legal owner of all Class V Voting Shares and the new legal owner of the Transferred Common Shares;
	 	 	 
	 	(d)	the Company shall deliver to the Investor and the Existing Shareholders a copy of the duly executed circular resolution of the Board referred
to in Section 11.3(c);

 

		(e)	 and of the share register of the Company evidencing the Investor as legal owner with voting rights
                                                                   of the Investor’s Preliminary Class V Voting Shares and the Transferred Common Shares and the Existing Shareholders as legal
                                                                   owners of the appropriate number of Existing Shares (as applicable) and the respective beneficial owners;

 

		(f)	the Investor and the Company shall exchange the duly signed Cash Contribution Agreement;

 

		(g)	the Parties hereto shall exchange the duly signed Restated and Amended Shareholders’ Agreement,
substantially in the form as attached hereto in Annex 11.3(f);

 

		(h)	the Investor shall deliver to the Company and the Existing Shareholders a copy of the confirmation from
the Investor’s US bank evidencing that an amount corresponding to the Cash Contribution is deposited on such bank account(s) (provided
that, for the avoidance of doubt, confirmation of Closing shall occur upon delivery of such Cash Contribution to Investor’s US bank
account); and

 

		(i)	the Investor shall appoint Andrew Phillips as new board member of the
Investor and deliver a copy of the corresponding resolution of the Investor to the Company and the Existing Shareholders, in accordance
with the terms of the BCA.

 

In addition to the
above, the Company and each of the Existing Shareholders undertakes to the Investor to execute or perform such other documents, instruments,
certificates or acts as may be reasonably requested by the Investor and/or the Company in order to complete, perfect and consummate the
transactions contemplated by this Agreement, including the Cash Contribution.

 

     

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		11.4	Issuance of New Voting Shares

 

The Parties agree that any shares
in the Company (including, without limitation, the Existing Shares and the Class V Voting Shares) shall be kept in uncertificated form
as uncertificated securities (einfache Wertrechte) in the sense of article 973c CO.

 

		12.	Termination and Rescission before Closing

 

		(a)	In case the BCA is terminated before the Closing, this Agreement is automatically terminated with immediate
effect.

 

		(b)	In case this Agreement is automatically terminated:

 

		(i)	each of the Parties acknowledges and agrees that this Agreement and any documents, instruments or deeds
executed by the Parties, shall be deemed terminated and rescinded and shall be without any further effect;

 

		(ii)	each of the Existing Shareholders and the Company hereby undertakes to the Investor to procure that the
Board takes all such actions which are required in order to unwind the transactions contemplated by this Agreement and to revert as soon
as possible all actions which have already been taken or effected by the Parties, including, for the avoidance of doubt, the Preliminary
Nominal Subscription Amount paid to the blocked capital account of the Company as specified in Section 4.3.2 (if already paid) is
immediately repaid to the Investor in cash to a US bank account of the Investor, such bank account is to be communicated by the Investor
to the Company in writing at least ten (10) Business Days prior to the Closing Date.

 

		(c)	Notwithstanding anything contained herein to the contrary, it is acknowledged and agreed that the right
of termination and rescission pursuant to this Section 12 shall be without prejudice to any other rights or remedies that a Party
may have including for breach of contract under this Agreement and/or applicable laws.

 

		13.	Post-Closing Actions

 

		13.1	Immediate Wiring of the Cash Contribution

 

Immediately after performance of the
actions and delivery of the documents specified in Section 11.3:

 

		(i)	the Investor, acting through its newly elected board, shall pay the Cash Contribution to a US bank account
of the Investor designated by the Company in writing to the Investor at least ten (10) Business Days prior to the Closing Date and as
consented to in writing by the Investor (which such consent shall not be unreasonably conditioned, withheld or delayed) (“ML
Bank Account”).

 

     

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		(ii)	the Investor’s bank shall issue and deliver a confirmation that the payment of the Cash Contribution
to the ML Bank Account was released, indicating the unique US cash wire transfer number.

 

		13.2	Confirmations and Filings

 

As soon as reasonably possible after performance of the actions and
delivery of the documents specified in Sections 11.3 and 13.1:

 

		(i)	the bank, where the ML Bank Account is held, shall issue and deliver
a confirmation that the transfer of the Cash Contribution has been received and credited on the ML Bank Account; and

 

		(ii)	the Board shall deliver a duly signed declaration to the competent tax authorities, confirming that the
Cash Contribution (as defined in Section 1.1 of the BCA) has been booked into the reserves from capital contributions (Kapitaleinlagereserven).

 

		13.3	Share Re-Transfer

 

		(a)	In case (x) the Available Closing Date Cash is lower than the Preliminary Investment Amount, which determination
the Parties undertake to make as soon as reasonably possible following the Closing Date and (y) the Company elects that a Share Re-Transfer
shall take place (such election to be communicated by the Company to the Investor no later than five (5) Business Days following the Closing
Date):

 

		(i)	the Investor hereby undertakes to transfer and assign to the Company,
and the Company hereby undertakes to acquire and accept from the Investor, such number of Class V Voting Shares, corresponding to the
difference between the Investor’s Preliminary Class V Voting Shares and the Investor’s Final Class V Voting Shares (“Re-Transfer
Class V Voting Shares”), and for such re-transfer a written assignment declaration (Abtretungserklärung), substantially
in the form of Annex 13.3, shall be signed and executed as soon as reasonably possible following the Closing Date by
the Investor and the Company;

 

		(ii)	the Company hereby undertakes to pay to the Investor a purchase price
of CHF 0.01 per Re-Transfer Class V Voting Share (“Re-Transfer Purchase Price”), payable as soon as reasonably
possible following the Closing Date to the bank account specified by the Investor under Section 12(b)(ii); and

 

		(iii)	the Company hereby undertakes to update its share ledger to reflect the Share Re-Transfer and to provide
a copy of the such duly executed share register to the Investor and the Existing Shareholders, as soon as reasonably possible following
the implementation of the Share Re-Transfer.

 

		(b)	In addition to the above, each Party undertakes to the other Parties
to execute or perform such other documents, instruments, certificates or acts as may be reasonably requested by the Investor and/or the
Company in order to complete, perfect and consummate the transactions contemplated by this Section 13.3.

 

     

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		(c)	The Company hereby undertakes to commence the cancellation of the Re-Transfer Class V Voting Shares by
way of formal capital reduction (“Capital Reduction”) immediately following the implementation of the Share Re-Transfer
(if any).

 

		(d)	The Company hereby undertakes not to sell or otherwise dispose of the Re-Transfer Class V Voting Shares
but by way of the Capital Reduction.

 

		14.	Representations and Warranties

 

		14.1	Representations and Warranties of Existing Shareholders and Company

 

Subject to the limitations set forth in this Section 14 (including
Annex 14.1) and Section 15, each of the Existing Shareholders (other than the Other Shareholder 4) and the Company
hereby (severally (and not jointly) and solely in respect of such Existing Shareholder or the Company) represents and warrants to the
Investor that the representations and warranties set forth in Annex 14.1-1 are true and accurate, each as of the date
of this Agreement, the EGM Date and the Closing Date, except for those representations and warranties which are explicitly made as of
a specific date.

 

Subject to the limitations set forth in this Section 14 (including
Annex 14.1-2) and Section 15, the Other Shareholder 4 hereby represents and warrants to the Investor that the representations
and warranties set forth in Annex 14.1-2 are true and accurate, each as of the date of this Agreement, the EGM Date and
the Closing Date, except for those representations and warranties which are explicitly made as of a specific date.

 

		14.2	Representations and Warranties of Investor

 

Subject to the limitations set forth in this Section 14 (including
Annex 14.2) and Section 15, the Investor represents and warrants to the Existing Shareholders and the Company
that the representations and warranties set forth in Annex 14.2 are true and accurate, each as of the date of this Agreement, the
EGM Date and the Closing Date, except for those representations and warranties which are explicitly made as of a specific date.

 

		14.3	Exclusive Representations and Warranties

 

		(a)	The Parties acknowledge that none of the Parties has made, and none of the Parties has relied upon, any
representation or warranty, express or implied, pertaining to the subject matter of this Agreement other than as expressly provided in
this Agreement and as set forth separately in the BCA.

 

		(b)	Without prejudice to the foregoing, each of the Existing Shareholders
hereby acknowledges that the Investor has entered into this Agreement and will pay the Subscription Amount in reliance on each of the
representations and warranties set forth in this Section 14 (including Annex 14.1-1 and Annex 14.1-2) and as set forth separately
in the BCA.

 

     

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		15.	Remedies

 

		15.1	Notice of Breach (Rügefrist)

 

		(a)	The Investor shall deliver to the Company (which shall receive such notice for and on behalf of, and promptly
forward a copy of such notice to each Existing Shareholder) a notice in writing describing the underlying facts of a claim for misrepresentation
or breach of warranty in reasonable detail to the extent then known within 60 (sixty) calendar days after the Investor has obtained reasonable
knowledge of the circumstances which are likely to give rise to a claim for misrepresentation or breach of warranty under this Agreement.

 

		(b)	Failure to provide notice of claim consistent with this Section 15.1
shall not relieve an Existing Shareholder and/or the Company of any liability it may have under Section 14.1; provided, however,
that an Existing Shareholder and/or the Company shall not be liable for any damage, loss, expense, or cost to the extent the same is attributable
to, or caused or aggravated by, or could not be remedied due to, the Investor’s failure to timely provide notice in accordance with
this Section 15.1. The Parties explicitly waive the application of article 201 CO.

 

		15.2	Time Limitations on Claims

 

		(a)	The representations and warranties given by the Existing Shareholders
and the Company as set forth in Section 14.1 and Annex 14.1-1 or Annex 14.1-2, respectively, shall expire, and any claim of
the Investor for misrepresentation or breach of warranty shall be time barred, forfeited and precluded from as of the first anniversary
of the Closing Date.

 

		(b)	It is understood and agreed that any notice of claim for misrepresentation
or breach of warranty shall be delivered to the Company (which shall receive such notice for and on behalf of, and promptly forward a
copy of such notice to, each Existing Shareholder) on or by the applicable date set forth in the preceding paragraphs, in which case the
resolution of such claim may be effected after such date; provided, however, that notwithstanding the foregoing, the Investor’s
claim shall be time-barred, forfeited and precluded from being made (verjährt/verwirkt) unless the Investor initiates proceedings
on the claim against the Existing Shareholders and/or the Company in accordance with Section 17.2 within nine (9) months from the
date of the Investor’s notice of claim to the Company.

 

		(c)	The Parties explicitly waive the application of article 210 CO.

 

		15.3	Remedies of Investor

 

		(a)	With respect to a misrepresentation or a breach of warranty notified
by the Investor to the Company in accordance with Section 15.1 and Section 15.2, the Existing Shareholders and/or the Company
shall have the right, within 30 (thirty) calendar days after receipt of such notice of breach by the Company, to put the Company or, with
the prior written consent of the Investor (such consent not to be unreasonably withheld or delayed in case the damage, loss, expense,
or cost was incurred by the Investor and not by the Company), the Investor, at the Existing Shareholders’ and/or the Company’s
own expense, in the position it would have been in had no such misrepresentation or breach of warranty occurred.

 

     

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		(b)	If and to the extent the remedy set forth in the preceding paragraph
cannot be effected or is not effected within such period of time, then the Investor, subject to the exclusions and limitations set forth
in this Agreement, shall have the right to claim that the Existing Shareholders and/or the Company pay, and each Existing Shareholder
and/or the Company shall be, subject to Section 15.4, severally (and not jointly) and solely in respect of such Existing Shareholder
or the Company liable to the Investor to pay, damages to the Company (or, if the damage, loss, expense, or cost is incurred by the Investor
and the Investor so elects in accordance with the foregoing paragraph, to the Investor) in the amount which is necessary to put the Company
(or, subject to the foregoing requirements, the Investor) in the position it would have been in had no such misrepresentation or breach
of warranty occurred. Such damages shall include all duly documented external costs and reasonable expenses of the Company (or, subject
to the foregoing requirements, the Investor) including reasonable attorneys’ fees.

 

		15.4	Limitations on Liability

 

		(a)	Notwithstanding anything contained in this Agreement to the contrary, it is acknowledged and agreed that
the liability of the Existing Shareholders and the Company towards the Investor for misrepresentations or breaches of warranties under
this Agreement shall not exceed, in the aggregate, the sum of (i) the Available Closing Date Cash, and (ii) reasonable and documented
costs and fees incurred by the Investor in connection with the examination of such misrepresentation or breach of warranty and any legal
proceedings against Existing Shareholders and/or the Company.

 

		(b)	Notwithstanding anything contained in Section 15.4(a) to the contrary,
it is acknowledged and agreed that the liability of the Company towards the Investor for misrepresentations or breaches of warranties
under this Agreement shall not exceed, an amount equal to the Company’s freely disposable reserves (frei verfügbares Eigenkapital).

 

		15.5	Remedies of Existing Shareholders and Company

 

The provisions of Sections 15.1 and 15.4 shall apply by analogy
to any claim by an Existing Shareholder that the Investor is liable for any misrepresentation or breach of warranty under Section 14.2
and Annex 14.2.

 

		15.6	Remedies Exclusive

 

The remedies in this Section 15 for any misrepresentation or breach
of warranty under this Agreement shall be in lieu of, and not in addition to, the remedies provided for under statutory law. All other
remedies including, without limitation, the right to rescind this Agreement shall, subject to the right of termination and rescission
in accordance with Section 11.4, not apply and are expressly excluded and waived.

 

     

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		16.	Miscellaneous

 

		16.1	Nature of Parties’ Rights and Obligations

 

		(a)	Except as specifically provided otherwise in this Agreement, the rights and obligations of the Parties
hereunder shall be several (and not joint).

 

		(b)	The non-performance by the Company or another Party (“Defaulting Party”) shall neither
relieve the Company nor any other Party from performing its obligations under this Agreement, nor shall the Company (provided it is not
the Defaulting Party) or any other Party be liable for the non-performance by the Defaulting Party.

 

		(c)	The obligations of the Parties hereunder are contractual in nature and the Parties agree that they do
not form, and this Agreement shall not be deemed to constitute, a simple partnership (einfache Gesellschaft) pursuant to articles 530
et seq. CO.

 

		16.2	Confidentiality

 

		(a)	Each of the Parties agrees to keep secret and confidential and not to use, disclose or divulge to any
third party or to enable or cause any person to become aware of, any of the terms and conditions of this Agreement, and any information
exchanged among the Parties in connection with their investment and common shareholdings in the Company or pertaining to the business
and the operation of the Company (all such information collectively “Confidential Information”), The Parties shall
ensure that their employees, directors and any other representatives as well as the advisors of each Party to whom any such Confidential
Information is entrusted comply with these restrictions.

 

		(b)	The term Confidential Information shall not include any information: (i) which as of the time of its disclosure
by a Party was already lawfully in the possession of the receiving Party as evidenced by written records, or (ii) which at the time of
the disclosure was in the public domain, or (iii) the disclosure of which was previously explicitly authorized by the respective Party.

 

		(c)	The non-disclosure obligation shall not apply to any disclosure of Confidential Information required by
law or regulations. In the event a disclosure of Confidential Information is required by law or regulations (including, without limitation,
for tax, audit or regulatory purposes), the disclosing Party shall use all reasonable efforts to arrange for the confidential treatment
of the materials and information so disclosed.

 

		(d)	No announcement or press releases regarding the transactions contemplated by the Business Combination
Agreement shall be made by any Party without the prior written consent of the Board (such consent not to be unreasonably withheld).

 

		(e)	Finally, it is acknowledged and agreed that the Investor is allowed to share Confidential Information
with its Affiliates as well as with its auditors, legal and other advisors, and to report regularly to its investors and/or any of its
Affiliates on all information pertaining to the Company and the equity investment made or to be made in the Company in accordance with
its reporting obligations under its fund investment documents or to the extent required for legal, tax, audit or regulatory purposes.

 

		(f)	Nothing herein shall restrict the Company from granting third parties customary due diligence access for
purposes of financial, commercial, strategic or similar transactions.

 

     

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	16.3		Successors and Assigns

 

This Agreement shall be binding upon
and shall inure to the benefit of the Parties and their respective permitted successors and assigns; provided, however, that neither the
Company nor another Party hereto shall be entitled to assign or transfer any of the rights or obligations hereunder to any other party.

 

	16.4		Costs and Expenses,
                                            Taxes

 

		(a)	Subject to the immediately following paragraph, it is agreed that each Party shall bear its own costs
and expenses arising out of or incurred, and any taxes imposed on it, in connection with this Agreement and all transactions contemplated
hereby.
	 	 	 
		(b)	The Company shall bear all Swiss issuance and stamp taxes arising out of the Investment.

 

	16.5		Notices

 

		(a)	All notices and other communications made or to be made pursuant to this Agreement shall be given in writing
by e-mail, or courier to the following addresses:

 

	If to the Investor:	To:
	 	Helix Acquisition Corp.
	 	200 Clarendon Street, 52nd Floor, Boston, MA 02116
	 	Attn. Bihua Chen and Andrew Phillips
	 	E-Mail:  
	 	 
	 	and 
	 	 
	 	To:
	 	Helix Holdings LLC
	 	c/o Cormorant Asset Management, LP
	 	200 Clarendon Street, 52nd Floor, Boston, MA 02116
	 	Attn. Bihua Chen and Andrew Phillips
	 	E-Mail:  
	 	 
	 	with a copy to (which shall not constitute a notice):
	 	Pestalozzi Attorneys at Law Ltd.
	 	Loewenstrasse 1, 8001 Zurich, Switzerland
	 	Attn.: Severin Roelli
	 	E-Mail: severin.roelli@pestalozzilaw.com 
	 	 
	If to Existing Shareholders:	To:
	 	MoonLake Immunotherapeutics AG,
	 	Attn. Jorge Santos da Silva and Matthias Bodenstedt
	 	c/o KD Zug-Treuhand AG, Untermüli 7, 6302 Zug, Switzerland, 
	 	E-Mail:  
	 	who shall forward the notices and communications received without delay to each Existing Shareholder
	 	 
	If to Company:	To:
	 	MoonLake Immunotherapeutics AG,
	 	Attn. Jorge Santos da Silva and Matthias Bodenstedt
	 	c/o KD Zug-Treuhand AG, Untermüli 7, 6302 Zug, Switzerland
	 	E-Mail:  
	 	 
	 	with a copy to (which shall not constitute a notice):
	 	Kellerhals Carrard Basel KlG
	 	Henric Petri-Strasse 35, 4010 Basel, Switzerland
	 	Attn.: Nicolas Mosimann
	 	E-Mail: nicolas.mosimann@kellerhals-carrard.ch 

 

     

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		(b)	To the extent this Agreement explicitly provides for delivery of a notice to the Company on behalf of
an Existing Shareholder, each Existing Shareholder hereby appoints the Company as receiver of notices on its behalf. The Company shall
promptly upon receipt send complete copies of such notices to each Existing Shareholder.
	 	 	 
		(c)	For the purpose of meeting a time period or deadline by the sender, a notice shall be deemed made when
dispatched by the sender. For triggering the start of a period or deadline for the recipient, a notice shall be deemed made or received
when it arrives at the recipient (Zugang).
	 	 	 
		(d)	Each Party may change or amend the addresses given above or designate
additional addresses for the purposes of this Section 16.5 by giving the other Parties written notice of the new address in the manner
set forth in this Section 16.5.

 

	16.6		Entire Agreement

 

With the exception of the BCA and
its annexes, this Agreement including its Annexes constitutes the entire agreement among the Parties with respect to the subject matter
hereof and supersedes any agreement or understanding that may have been concluded with respect to the subject matter hereof between any
of the Parties prior to the date of this Agreement.

 

	16.7		Severability

 

If at any time, any provision of this
Agreement or any part thereof is or becomes invalid or unenforceable, then neither the validity nor the enforceability of the remaining
provisions or the remaining part of the provision shall in any way be affected or impaired thereby. The Parties agree to replace the invalid
or unenforceable provision or part thereof by a valid or enforceable provision, which shall best reflect the Parties’ original intention
and shall achieve the same economic result, to the extent possible.

 

	16.8		Amendments

 

Any amendment to this Agreement (including this Section 16.8) must
be in writing.

 

Notwithstanding anything contained herein to the contrary, the Parties
acknowledge and agree that this Agreement (including this Section 16.8) may be amended in writing by an instrument signed solely
by the Investor, the Company and holders of a majority of the Common Shares with binding effect on all other Parties; provided, however,
that any such modification or amendment of any of the provisions of this Agreement shall neither affect any accrued rights of any other
Party nor impose any greater liability or any more onerous obligation than those contained in this Agreement on the other Parties who
do not sign such modification or amendment.

 

	16.9		Waiver of Rights

 

No waiver by a Party of a failure
of any other Party to perform any provision of this Agreement shall operate or be construed as a waiver in respect of any other or further
failure whether of a similar or different character.

 

	16.10		Form Requirements

 

This Agreement may be executed and
amended in writing or in electronic form (such as Skribble, DocuSign or AdobeSign, or which contains an electronic scan of the signature)
and be delivered by post, courier or email; the counterpart so executed and delivered shall be deemed to have been duly executed and validly
delivered and be valid and effective for all purposes.

 

For the avoidance of doubt, any instruments or documents required to
be issued, signed, delivered and/or exchanged in connection with the performance of this Agreement, including, without limitation, any
documents for the transfer of Shares (such as assignment declarations) must comply with form requirements imposed by applicable laws.

 

     

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	17.		Governing Law and
                                            Arbitration

 

	17.1		Governing Law

 

This Agreement shall in all respects
be governed by and construed in accordance with the substantive laws of Switzerland, excluding the United Nations Convention on Contracts
for the International Sales of Goods of 11 April 1980 (CISG).

 

	17.2		Arbitration

 

Any dispute, controversy, or claim
arising out of, or in relation to, this Agreement, including the validity, invalidity, breach, or termination thereof, shall be resolved
by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Arbitration Centre in force on the date on
which the Notice of Arbitration is submitted in accordance with those Rules. The number of arbitrators shall be three. The seat of the
arbitration shall be Zurich and the arbitration proceedings shall be conducted in English; provided that evidence may be submitted to
the arbitration tribunal in German without translation into English.

 

	17.3		Trust Account Waiver

 

The Company and the Existing Shareholders
acknowledge that the Investor has established the Trust Account for the benefit of its public shareholders, which contains the proceeds
of its initial public offering and from certain private placements occurring simultaneously with the initial public offering (including
interest accrued from time to time thereon) for the benefit of the Investor’s public shareholders and certain other parties (including
the underwriters of the initial public offering). For and in consideration of the Investor entering into this Agreement and for other
good and valuable consideration, the sufficiency of which is hereby acknowledged, each of the Company and the Existing Shareholders, for
itself and the Affiliates it has the authority to bind, hereby agrees it does not now and shall not at any time hereafter have any right,
title, interest or claim of any kind in or to any assets in the Trust Account, regardless of whether such claim arises as a result of,
in connection with or relating in any way to this Agreement or any other matter, and regardless of whether such claim arises based on
contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred to hereafter as the “Released
Claims”). The Company and the Existing Shareholders hereby irrevocably waive any Released Claims that they may have against
the Trust Account now or in the future as a result of, or arising out of, any discussions, contracts or agreements with the Company and
will not seek recourse against the Trust Account for any reason whatsoever; provided that (a) nothing herein shall serve to limit or prohibit
the Company’s or any Existing Shareholders’ right to pursue a claim against the Investor for legal relief against monies or
other assets held outside the Trust Account, for specific performance or other equitable relief in connection with the consummation of
the transactions (including a claim for the Investor to specifically perform its obligations under this Agreement and cause the disbursement
of the balance of the cash remaining in the Trust Account (after giving effect to redemptions by the Investor’s public shareholders)
to the Company in accordance with the terms of this Agreement and the Trust Agreement) and (b) nothing herein shall serve to limit or
prohibit any claims that the Company may have in the future against the Investor’s assets or funds that are not held in the Trust
Account (including any funds that have been released from the Trust Account and any assets that have been purchased or acquired with any
such funds).

 

[signatures on the following pages]

 

     

     

    

 

The Parties have signed this Agreement on the
date first written above.

 	Investor	 	 
	 	 	 	 
	Helix Acquisition
    Corp.	 	 
	 	 	 	 
	/s/
    Bihua Chen		/s/
    Andrew Phillips
	Name:	Bihua Chen		Name:	Andrew Phillips
	Function:	Chief Executive Officer		Function: 	Chief Financial Officer
	 	 	 	 
	Founder
    1	 	 
	 	 	 	 
	/s/
    Jonkheer Arnout Michiel Ploos van Amstel	 	 
	Jonkheer Arnout
    Michiel Ploos van Amstel	 	 
	 	 	 	 
	Founder
    2	 	 
	 	 	 	 
	/s/
    Jorge Santos da Silva	 	 
	Dr. Jorge Santos
    da Silva	 	 
	 	 	 	 
	Founder
    3	 	 
	 	 	 	 
	JeruCon Beratungsgesellschaft
    mbH	 	 
	 	 	 	 
	/s/
    Kristian Reich	 	 
	Name:	Prof. Dr. Kristian Reich		 
	Function:	Managing Director	 	 

 

     

     

    

 

	Other Shareholder
    1	 	 
	 	 	 	 
	Biotechnology
    Value Fund, L.P.	 	 
	 	 	 	 
	By:	/s/ Mark
    Lampert	 	 
	Name:	Mark Lampert	 	 
	Title:	Chief Executive Officer
    BVF I GP LLC,	 	 
	 	itself General
    Partner of Biotechnology Value Fund, L.P.	 
	 	 	 	 
	Other Shareholder
    2	 	 
	 	 	 	 
	Biotechnology
    Value Fund II, L.P.	 	 
	 	 	 	 
	By:	/s/ Mark
    Lampert	 	 
	Name:	Mark Lampert	 	 
	Title:	Chief Executive Officer
    BVF II GP LLC,	 	 
	 	itself General
    Partner of Biotechnology Value Fund II, L.P.	 
	 	 	 	 
	Other Shareholder
    3	 	 
	 	 	 	 
	Biotechnology
    Value Trading Fund OS, L.P.	 	 
	 	 	 	 
	By:	/s/ Mark
    Lampert	 	 
	Name:	Mark Lampert	 	 
	Title:	President BVF
    Inc., General Partner of BVF Partners L.P.,	 
	 	itself sole member of BVF
    Partners OS Ltd.,	 	 
	 	itself GP of
    Biotechnology Value Trading Fund OS, L.P.	 
	 	 	 	 
	Other Shareholder
    4	 	 
	 	 	 	 
	Merck Healthcare
    KGaA, Darmstadt, Germany	 	 
	an affiliate
    of Merck KGaA, Darmstadt, Germany	 	 
	 	 	 	 
	/s/
    Matthias Mullenbeck	 	/s/
    Jens Eckhardt
	Name:	Matthias Mullenbeck	 	Name: 	Jens Eckhardt
	Function: 	SVP, Head Global Business Development & Alliance Management Biopharma	 	Function:
     	Authorized Representative

 

     

     

    

 

	Other Shareholder
    5	 	 
	 	 	 	 
	/s/
    Florian Schönharting	 	 
	Florian Schönharting	 	 
	 	 	 	 
	Other Shareholder
    6	 	 
	 	 	 	 
	/s/
    Simon Sturge	 	 
	Simon Sturge	 	 
	 	 	 	 
	Other Shareholder7	 	 
	 	 	 	 
	/s/
    Matthias Bodenstedt	 	 
	Matthias Bodenstedt	 	 
	 	 	 	 
	Other Shareholder
    8	 	 
	 	 	 	 
	/s/
    Atif Khan	 	 
	Atif Khan	 	 	 
	 	 	 	 
	Other Shareholder
    9	 	 
	 	 	 	 
	/s/
    Eva Cullen	 	 
	Eva Cullen	 	 
	 	 	 	 
	Other Shareholder
    10	 	 
	 	 	 	 
	/s/
    Oliver Daltrop	 	 
	Oliver Daltrop	 	 
	 	 	 	 
	Other Shareholder
    11	 	 
	 	 	 	 
	/s/
    Nuala Brennan	 	 
	Nuala Brennan	 	 
	 	 	 	 
	Company	 	 	 
	 	 	 	 
	MoonLake Immunotherapeutics
    AG	 	 
	 	 	 	 
	/s/
    Jorge Santos da Silva	 	/s/
    Spile Nasmyth Loy
	Name:	Dr. Jorge Santos da Silva	 	Name:	Spike Nasmyth
    Loy
	Function: 	Chief Executive Officer	 	Function:  	Member of the Board of Directors

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	1 / 14

    

 

Annex 1: Defined Terms

 

	“Affiliate” and “Affiliates”	 	shall mean any person or entity that directly, or indirectly through one or more intermediaries, controls or is controlled by or is under common control with the person or entity specified and includes, in case of an Investor, funds, investment vehicles or other entities formed or incorporated in any jurisdiction which are owned, managed or advised by such Investor or by the same advisor as the Investor.
	 	 	 
	“Agreement”	 	shall mean this investment and subscription agreement including all Annexes.
	 	 	 
	“Annex”	 	shall mean any annex to this Agreement.
	 	 	 
	“Articles”	 	shall mean the articles of incorporation (Statuten) of the Company substantially in the form attached to this Agreement and as amended from time to time.
	 	 	 
	“Authority”	 	shall mean any court, arbitral tribunal, or governmental, administrative or regulatory authority or agency.
	 	 	 
	“Authorization”	 	shall mean any official authorization, order, permission, product registration, certification, certificate, approval, notice or consent (including any written amendment, supplement or replacement).
	 	 	 
	“Available Closing Date Cash”	 	shall have the meaning set forth in the BCA.
	 	 	 
	“BCA”	 	shall have the meaning set forth in Recital (D).
	 	 	 
	“BCA Closing”	 	shall have the meaning set forth in Recital (E).
	 	 	 
	“Board”	 	shall mean the board of directors of the Company, as appointed from time to time in accordance with the terms of this Agreement.

                                    

	 	 	 
	“Business Day”	 	shall mean any day except a Saturday, a Sunday or any other day on which commercial banks are required or authorized to close in the State of New York or the Canton of Zug, Switzerland.
	 	 	 
	“Business”	 	shall have the meaning set forth in Recital (C).
	 	 	 
	“BVF Party” and “BVF Parties”	 	shall have the meaning set forth in Recital (D).
	 	 	 
	“BVF Share Transfers”	 	shall have the meaning set forth in Recital (D).
	 	 	 
	“Capital Reduction”	 	shall have the meaning set forth in Section 13.3(c). 
	 	 	 
	“Cash Contribution”	 	shall have the meaning set forth in Section 3.1(b)(ii).

 

     

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	“Cash Contribution Agreement”	 	shall have the meaning set forth in Section 5.
	 	 	 
	“CEO”	 	shall mean the Chief Executive Officer of the Company appointed from time to time in accordance with this Agreement.
	 	 	 
	“Chairman”	 	shall mean the chairman of the Board (Verwaltungsratspräsident).
	 	 	 
	“Class A Ordinary Shares”	 	shall mean Class A ordinary shares in the Investor.
	 	 	 
	“Class V Voting Shares”	 	shall have the meaning set forth in Recital (D).
	 	 	 
	“Closing”	 	shall mean the closing of the transactions contemplated by this Agreement pursuant to Section 11 of this Agreement and the BCA Closing as set forth in the BCA.
	 	 	 
	“Closing Date”	 	shall have the meaning set forth in Section 11.1.
	 	 	 
	“CO”	 	shall mean the Swiss Code of Obligations (Schweizerisches Obligationenrecht) as of March 30, 1911, as amended from time to time.
	 	 	 
	“Common Shares”	 	shall have the meaning set forth in Recital (B).
	 	 	 
	“Company”	 	shall have the meaning set forth on page 2.
	 	 	 
	“Conditional Capital”	 	shall have the meaning set forth in Recital (B).
	 	 	 
	“Confidential Information”	 	shall have the meaning set forth in Section 16.2(a).

                                    

	 	 	 
	“Corporate Documents”	 	shall mean the corporate documents of the Company necessary for execution and
    registration of the adoption of the Articles, the Share Conversion, the Nominal Capital Increase and the changes to the Board of the
    Company, with the commercial register of the Canton of Zug, including, without limitation, the minutes of the Extraordinary General
    Meeting, the Articles, the Company’s Board report regarding capital increase (Kapitalerhöhungsbericht), the
    resolution of the Company’s Board in the ascertainment and the execution of the Nominal Capital Increase (Feststellungsbeschluss) and the Closing Application.
	 	 	 
	“Cut-Off Date”	 	shall have the meaning set forth in Section 8(a).
	 	 	 
	“Defaulting Party”	 	shall have the meaning set forth in Section 16.1(a).
	 	 	 
	“Determined Nominal Amount”	 	shall mean the aggregate nominal amount of the capital increase, calculated by multiplying the number of Investor’s Preliminary Class V Voting Shares, as calculated in accordance with the provisions of the BCA, by CHF 0.01.

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	3 / 14

    

 

 

	“Director”	 	shall mean a member of the Board appointed from time to time in accordance with the terms of this Agreement.
	 	 	 
	“EGM Date”	 	shall have the meaning set forth in Section 4.2.1(i).
	 	 	 
	“Employee Share Participation Plan”	 	shall mean the employee share participation plan dated 23 July 2021 of Moonlake Immunotherapeutics AG, as amended from time to time.
	 	 	 
	“Employee Stock Option Plan”	 	shall mean the employee stock option plan dated 23 July 2021 of Moonlake Immunotherapeutics AG, as amended from time to time.
	 	 	 
	“Existing Articles”	 	shall mean the existing articles of incorporation (Statuten) of the Company as in effect and in force as per the date of this Agreement.
	 	 	 
	“Existing Shareholder” and “Existing Shareholders”	 	shall have the meaning set forth on page 2 of this Agreement taking into account the extension of the defined term according to Section 9.
	 	 	 
	“Existing Shares”	 	shall have the meaning set forth in Recital (B).
	 	 	 
	“Extraordinary General Meeting”	 	shall have the meaning set forth in Section 4.2.1(i).
	 	 	 
	“Founder” and “Founders”	 	shall have the meaning set forth on page 1.
	 	 	 
	“Investment”	 	shall have the meaning set forth in Section 3.1(a).
	 	 	 
	“Investor”	 	shall have the meaning set forth on page 1.
	 	 	 
	“Investor’s Final Class V Voting Shares”	 	shall have the meaning set forth in Recital (E).
	 	 	 
	“Investor’s Preliminary Class V Voting Shares”	 	shall have the meaning set forth in Recital (E).
	 	 	 
	“Lien”	 	shall mean, with respect to any specified asset, any and all liens, mortgages, hypothecations, claims, encumbrances, options, pledges, licenses, rights of priority, easements, covenants, restrictions and security interests thereon.
	 	 	 
	“Minimum Investment Amount”	 	shall have the meaning set forth in Recital (E).
	 	 	 
	“ML Bank Account”	 	shall have the meaning set forth in Section 11.3.
	 	 	 
	“Nominal Capital Increase”	 	shall have the meaning set forth in Section 3.1(b)(i).
	 	 	 
	“Nominal Issue Price”	 	shall have the meaning set forth in Section 4.2.3(iii).

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	4 / 14

    

 

	“Other Shareholder” and “Other Shareholders”	 	shall have the meaning set forth on pages 1 and 2.
	 	 	 
	“Party” and “Parties”	 	shall have the meaning set forth on page 2.
	 	 	 
	“Permitted Allocations”	 	shall have the meaning set forth 11.2(iv).
	 	 	 
	“PIPE Transaction”	 	shall have the meaning set forth in Recital (E).
	 	 	 
	“Plans”	 	shall have the meaning set forth in Section 8(a).
	 	 	 
	“Pre-Closing Application”	 	shall have the meaning set forth in Section 10(j).
	 	 	 
	“Preliminary Investment Amount”	 	shall have the meaning set forth in Recital (E).
	 	 	 
	“Preliminary Nominal Subscription Amount”	 	shall have the meaning set forth in Section 4.3.1(a).
	 	 	 
	“Proxy Holder”	 	shall mean the proxy holder whose name is entered in the proxy as the person who is appointed to represent and act for the relevant Existing Shareholder as issuer of the proxy in the Extraordinary General Meeting.
	 	 	 
	“Recital”	 	shall mean a recital in this Agreement.
	 	 	 
	“Released Claim”	 	shall have the meaning in Section 17.3.
	 	 	 
	“Restated and Amended Shareholders’ Agreement”	 	shall mean the restated and amended shareholders’ agreement substantially in the form as attached hereto in Annex 11.3(f).
	 	 	 
	“Re-Transfer Class V Voting Shares”	 	shall have the meaning set forth in Section 13.3.
	 	 	 
	“Re-Transfer Purchase Price”	 	shall have the meaning set forth in Section 13.3.
	 	 	 
	“SEC”	 	means the United States Securities and Exchange Commission.
	 	 	 
	“Series A Preferred Shares”	 	shall have the meaning set forth in Recital (B).
	 	 	 
	“Shares”	 	shall mean any shares (Aktien) or participations (Partizipationsscheine) issued by the Company from time to time.
	 	 	 
	“Share Conversion”	 	shall have the meaning set forth in Recital (D).
	 	 	 
	“Share Re-Transfer”	 	shall have the meaning set forth in Section 3.1(b)(iii).
	 	 	 
	“SOGC”	 	Swiss Official Gazette of Commerce.
	 	 	 
	“Stock Options”	 	shall have the meaning set forth in Section 8(a).
	 	 	 
	“Stock Option Restriction”	 	shall have the meaning set forth in Section 8(a).
	 	 	 
	“Subscription Form”	 	shall mean the subscription forms to be executed by the Investor in accordance with the terms of this Agreement in form and substance satisfactory to the Company and as required by Swiss corporate law.
	 	 	 
	“Transferred Common Shares”	 	shall have the meaning set forth in Section 5(a).
	 	 	 
	“Trust Account”	 	shall mean the trust account established by the Investor pursuant to the Trust Agreement.
	 	 	 
	“Trust Agreement”	 	shall mean that certain Investment Management Trust Agreement, dated as of October 19, 2020, by and between the Investor and Continental Stock Transfer & Trust Company, a New York corporation.
	 	 	 
	“Updated Cap Table”	 	shall have the meaning set forth in Section 4.2.2.

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	5 / 14

    

 

Annex 2:
 Current Cap Table

 

[Omitted.]

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	6 / 14

    

 

Annex 4.2.2:
 Cap Table after Closing

 

[Omitted.]

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	7 / 14

    

 

Annex 4.2.3:
 Articles

 

[Omitted.]

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	8 / 14

    

 

Annex 5(c):
Form of Assignment Declaration regarding Transferred Common Shares

 

[Omitted.]

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	9 / 14

    

 

Annex 13.3:
Form of Assignment Declaration

 

[Omitted.]

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	10 / 14

    

 

Annex 11.3(f):
Form of Restated and Amended Shareholders’ Agreement

 

[Omitted.]

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	11 / 14

    

 

Annex
14.1-1: Representations and Warranties of Existing Shareholders (other than the Other Shareholder 4) and Company

 

	1.	Capacity
and Title of Existing Shareholders and the Company

 

	1.1	Authority
and Ownership

 

		(a)	Each
                                            Existing Shareholder and the Company has the unrestricted right, power and authority to enter
                                            into, to execute and deliver this Agreement and to consummate the transactions contemplated
                                            hereby, and has taken all actions necessary, including required corporate approvals, in order
                                            to enter into, to execute, deliver and perform its respective obligations hereunder and to
                                            consummate the transactions contemplated hereby.

 

		(b)	This
                                            Agreement has been duly executed and delivered by each of the Existing Shareholders and the
                                            Company and constitutes the valid and binding agreement of the Existing Shareholders and
                                            the Company, enforceable against each of the Existing Shareholders and the Company in accordance
                                            with its terms.

 

		(c)	The
                                            Existing Shareholders are neither over-indebted (überschuldet), nor insolvent
                                            (insolvent) nor unable to pay their debts as they fall due (illiquid).

 

		(d)	The
                                            Existing Shareholders are the sole legal and beneficial owners of the Existing Shares free
                                            and clear of any encumbrances. The Existing Shares set forth on Annex 2 comprise
                                            all of the capital stock of the Company that are issued and outstanding as of the date hereof.
                                            Other than Stock Options referring to the Conditional Capital set forth on Annex 2,
                                            no options, warrants, calls, rights, contracts, commitments or derivative instruments are
                                            outstanding that could require the Company to sell, transfer or issue any shares or other
                                            securities of the Company.

 

		(e)	The
                                            Cap Table after Closing set forth on Annex 4.2.2, once updated, will reflect
                                            all of the capital stock of the Company, the remaining Conditional Capital as well as the
                                            Stock Options referring to the Conditional Capital that are issued and outstanding as of
                                            the Closing Date.

 

	1.2	Execution
and Performance, No Consents

 

		(a)	The
                                            execution and the performance of this Agreement by each Existing Shareholder and the Company
                                            have been authorized by all necessary corporate actions of such Existing Shareholder and
                                            the Company and the execution and performance of this Agreement by the Company or the Existing
                                            Shareholders will not (i) conflict with or result in any breach of any of the material terms,
                                            conditions or provisions of, (ii) constitute a material default under (whether with or without
                                            the giving of notice, the passage of time or both), (iii) result in a material violation
                                            of, (iv) give any third party the right to terminate or accelerate, or cause any termination
                                            or acceleration of, any material right or material obligation under, (v) result in the creation
                                            of any Lien upon the Existing Shares under, (vi) require any approval from, or (vii) require
                                            any filing with, (A) any material contract, (B) any constitutional documents or (C) any authority
                                            under or pursuant to any law or order to which the Company or any Existing Shareholder is
                                            bound or subject, with respect to clauses (iv) through (vii), which would reasonably be expected
                                            to be material to the Company or any Existing Shareholder, other than as required under this
                                            Agreement.

 

		(b)	There
                                            are no proceedings or investigations whatsoever pending or threatened in writing against
                                            any of the Existing Shareholders and/or the Company that could compromise the transactions
                                            contemplated by this Agreement.

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	12 / 14

    

 

	2.	Status
of the Company

 

		2.1	Incorporation,
Share Capital and Authority

 

		(a)	The
                                            Company is a corporation duly incorporated and validly existing under the laws of Switzerland.

 

		(b)	At
                                            the date of this Agreement, the Company has an issued statutory share capital in the nominal
                                            amount of CHF 104,072.50, divided into 1,040,725 registered shares (Namenaktien)
                                            with a nominal value of CHF 0.10 per share, of which 360,529 are Common Shares and 680,196
                                            are Series A Preferred Shares, all of which each fully paid-in.

 

		(c)	The
                                            Company has an outstanding conditional capital (bedingtes Kapital) of CHF 2,947.10,
                                            allowing for the issuance of up to 29,471 registered Common Shares for in connection with
                                            the Company’s Plans.

 

		(d)	Existing
                                            Shares have been validly issued, are fully paid up and constitute the entire issued share
                                            capital of the Company. No share certificates have been issued by the Company since its incorporation.
                                            In particular, in the context of the incorporation of the Company and/or subsequent capital
                                            increases, there have not been any undisclosed (intended) acquisitions of assets ((beabsichtigte)
                                            Sachübernahmen), no options, warrants, calls, rights, contracts, commitments or
                                            derivative instruments are outstanding that could require the Company to sell, transfer or
                                            issue any shares or other securities of the Company, other than (i) the registered conditional
                                            capital of CHF 6,000, allowing for the issuance of up to 60,000 registered Common Shares,
                                            of which 30,529 Common Shares with a total nominal value of CHF 3,052.90 have been converted
                                            into registered Common Shares and (ii) 2,775 options awarded to an employee of the Company
                                            on September 9, 2021 under the Employee Stock Option Plan.

 

		(e)	The
                                            Class V Voting Shares, if issued in accordance with this Agreement, will be validly issued
                                            and fully paid-up.

 

		(f)	The
                                            Company has full corporate power and authority to own its property and assets and to carry
                                            on its Business as presently conducted.

 

		2.2	No
Dissolution, Bankruptcy or Insolvency

 

		(a)	No
                                            measures have been taken for the dissolution and liquidation or declaration of bankruptcy
                                            of the Company and no events have occurred which would justify any such measures to be taken,
                                            in particular (i) no order has been made, petition presented, resolution passed or meeting
                                            convened for the winding up, dissolution or liquidation of the Company and there are no proceedings
                                            under applicable insolvency, bankruptcy, composition, moratorium, reorganization, or similar
                                            laws and no events have occurred which would require the initiation of any such proceedings;
                                            and (ii) no receiver, liquidator, administrator, commissioner or similar official has been
                                            appointed in respect of the Company and no step has been taken for or with a view to the
                                            appointment of such a person.

 

		(b)	The
                                            Company is neither over-indebted (überschuldet), nor insolvent (insolvent)
                                            nor unable to pay its debts as they fall due (illiquid).

 

		2.3	Corporate
Books and Registers

 

The
corporate books, registers, accounts, ledgers, records and supporting documents of the Company are up to date and contain complete and
accurate records of all matters since its incorporation, which were required by law to be dealt with in such documents.

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	13 / 14

    

 

Annex
14.1-2: Representations and Warranties of the Other Shareholder 4

 

		1.	Capacity
and Title of Other Shareholder 4

 

		1.1	Authority
and Ownership

 

		(a)	The
                                            Other Shareholder 4 has the unrestricted right, power and authority to enter into, to execute
                                            and deliver this Agreement and to consummate the transactions contemplated hereby, and has
                                            taken all actions necessary, including required corporate approvals, in order to enter into,
                                            to execute, deliver and perform its respective obligations hereunder and to consummate the
                                            transactions contemplated hereby.

 

		(b)	This
                                            Agreement has been duly executed and delivered by the Other Shareholder 4 and constitutes
                                            the valid and binding agreement of the Other Shareholder 4, enforceable against the Other
                                            Shareholder 4 in accordance with its terms.

 

		(c)	The
                                            Other Shareholder 4 is neither over-indebted (überschuldet), nor insolvent (insolvent)
                                            nor unable to pay its debts as they fall due (illiquid).

 

		(d)	The
                                            Other Shareholder 4 is the sole legal and beneficial owner of 99,000 Existing Shares free
                                            and clear of any encumbrances.

 

		1.2	Execution
and Performance, No Consents

 

		(a)	The
                                            execution and the performance of this Agreement by the Other Shareholder 4 has been authorized
                                            by all necessary corporate actions of the Other Shareholder 4 and the execution and performance
                                            of this Agreement by the Other Shareholder 4 will not (i) conflict with or result in any
                                            breach of any of the material terms, conditions or provisions of, (ii) constitute a material
                                            default under (whether with or without the giving of notice, the passage of time or both),
                                            (iii) result in a material violation of, (iv) give any third party the right to terminate
                                            or accelerate, or cause any termination or acceleration of, any material right or material
                                            obligation under, (v) result in the creation of any Lien upon the 99,000 Existing Shares
                                            held by the Other Shareholder 4 under, (vi) require any approval from, or (vii) require any
                                            filing with, (A) any material contract, (B) any constitutional documents or (C) any authority
                                            under or pursuant to any law or order to which the Other Shareholder 4 is bound or subject,
                                            with respect to clauses (iv) through (vii), which would reasonably be expected to be material
                                            to the Other Shareholder 4, other than as required under this Agreement.

 

		(b)	There
                                            are no proceedings or investigations whatsoever pending or threatened in writing against
                                            the Other Shareholder 4 that could compromise the transactions contemplated by this Agreement.

 

     

    	MoonLake Immunotherapeutics AG: Project Come –Investment Agreement	14 / 14

    

 

Annex 14.2:
Representations and Warranties of the Investor

 

		1.	Capacity
of Investor

 

		1.1	Authority

 

		(a)	The
                                            Investor has the unrestricted right, power and authority to enter into, to execute and deliver
                                            this Agreement and to consummate the transactions contemplated hereby, and has taken all
                                            actions necessary, including required corporate approvals, in order to enter into, to execute,
                                            deliver and perform its respective obligations hereunder and to consummate the transactions
                                            contemplated hereby.

 

		(b)	This
                                            Agreement has been duly authorized, executed and delivered by the Investor and constitutes
                                            a valid and binding agreement of the Investor, enforceable against the Investor in accordance
                                            with its respective terms. It is neither over-indebted (überschuldet) nor insolvent
                                            (insolvent) or unable to pay its debts as they fall due (illiquid) and there
                                            are no circumstances that indicate any over-indebtedness or insolvency or illiquidity of
                                            it in the foreseeable future.

 

		1.2	Execution
and Performance

 

Except
for the filings necessary pursuant to the BCA, the execution and the performance of this Agreement by the Investor have been authorized
by all necessary corporate action of the Investor and execution and the performance will not (i) conflict with or result in any breach
of any of the material terms, conditions or provisions of, (ii) constitute a material default under (whether with or without the giving
of notice, the passage of time or both), (iii) result in a material violation of, (iv) give any third party the right to terminate or
accelerate, or cause any termination or acceleration of, any material right or material obligation under, (v) result in the creation
of any Lien upon its equity securities under, (vi) require any approval from, or (vii) require any filing with, (A) any material contract,
(B) any constitutional documents or (C) any authority under or pursuant to any law or order to which the Investor is bound or subject,
with respect to clauses (iv) and (vii), which would reasonably be expected to be material to the Investor, other than as required under
this Agreement.

 

		1.3	No
Consents Required

 

There
are no proceedings or investigations whatsoever pending or threatened in writing against the Investor that could compromise the consummation
of the transactions contemplated by this Agreement.

 

		1.4	Incorporation;
Good Standing

 

The
Investor is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands.Exhibit 10.2

 

FORM OF RESTATED AND AMENDED SHAREHOLDERS’
AGREEMENT

 

of [date]

 

between

 

		1.	Helix Acquisition Corp.

c/o Cormorant Asset Management LLP,
200 Clarendon Street, 52nd Floor Boston, MA 02116, United States

(hereinafter «Helix»)

 

and

 

		2.	Biotechnology Value Fund, L.P.

44 Montgomery Street, 40th
Floor, San Francisco, CA 94104, United States

(hereinafter «Series A Investor
1»)

 

		3.	Biotechnology Value Fund II, L.P.

44 Montgomery Street, 40th
Floor, San Francisco, CA 94104, United States

(hereinafter «Series A Investor
2»)

 

		4.	Biotechnology Value Trading Fund OS, L.P.

PO Box 309 Ugland House, Grand Cayman,
KY1-1104, Cayman Islands

(hereafter «Series A Investor
3»)

 

		5.	Merck Healthcare KGaA, Darmstadt, Germany an affiliate of Merck KGaA, Darmstadt, Germany

Frankfurter Str. 250, 64293 Darmstadt,
Germany

(hereinafter «Series A Investor
4»)

 

		6.	Florian Schönharting

(hereinafter «Series A Investor
5»)

 

		7.	Simon Sturge

(hereinafter «Series A Investor
6»)

 

     

     

    

 

Restated and
Amended Shareholders’ Agreement – MoonLake Immunotherapeutics AG

 

(each a «Series A Investor»
or an «Investor» and collectively the «Series A Investors» or the «Investors»)

 

and

 

		8.	Jonkheer Arnout Michiel Ploos van Amstel

(hereinafter «Founder 1»)

 

		9.	Dr. Jorge Santos da Silva

(hereinafter «Founder 2»)

 

		10.	JeruCon Beratungsgesellschaft mbH

(hereinafter «Founder 3»)

(each a «Founder»
and collectively the «Founders»)

 

		11.	Matthias Bodenstedt

(hereinafter «Employee 1»)

 

		12.	Atif Khan

(hereinafter «Employee 2»)

 

		13.	Nuala Brennan

(hereinafter «Employee 3»)

 

		14.	Oliver Daltrop

(hereinafter «Employee 4»)

 

		15.	Eva Cullen

(hereinafter «Employee 5»)

 

(irrespective of whether they hold
Shares or Stock Options (both as defined below), each an «Employee» and collectively the «Employees»)

 

(the Series A Investors, the Founders
and the Employees collectively the «Existing Investors» and each an «Existing Investor»)

 

and

 

		16.	MoonLake Immunotherapeutics AG

c/o KD Zug-Treuhand AG, Untermüli
7, 6302 Zug

(hereinafter the «Company»)

 

    2

     

    

 

Restated and
Amended Shareholders’ Agreement – MoonLake Immunotherapeutics AG

 

Table of contents

 

	Preamble	5
	 	 	 
	1.	Definitions
    and Scope	5
	 	 	 
	2.	General
    Undertaking	6
	 	 	 
	3.	Ownership
    Structure AND CLASSES OF SHARES	6
	3.1	Share
    Capital	6
	3.2	Different
    Classes of Shares	6
	3.3	Employee
    Equity Incentive Plan	7
	3.4	Subscription
    Rights	7
	 	 	 
	4.	ORDER
    OF PRECEDENCE / ARTICLES AND BOARD REGULATIONS	7
	4.1	Order
    of Precedence	7
	4.2	Articles
    of Association	8
	4.3	Board
    Regulations	8
	 	 	 
	5.	BOARD
    OF DIRECTORS	8
	5.1	Representation
    on the Board and Initial Composition	8
	5.2	Signing
    Authority	8
	5.3	Presence
    Quorum	8
	5.4	Implementation
    of Board Resolutions	8
	 	 	 
	6.	Shareholders’
    Meeting	9
	6.1	General
    Undertaking	9
	6.2	Undertakings
    by the Existing Investors	9
	6.3	Restricting
    Covenants and Waivers by the Existing Investors	9
	6.3.1	Restricting Covenants
    and Waivers by all Existing Investors	9
	6.3.2	Restricting Covenants
    and Waivers by Series A Investor 4	10
	6.4	Helix
    Call Options	10
	6.4.1	Triggering Events	10
	6.4.2	Exercise of Helix Call
    Options	10
	 	 	 
	7.	Transfer
    Restrictions	11
	7.1	General
    Provisions	11
	7.2	Permitted
    Transfers	11
	7.3	Restricted
    Transfers	12
	7.4	Drag-Along
    (Co-Sale Obligation)	12
	7.5	Triggering
    Event Option	13
	7.5.1	Triggering Event	13
	7.5.2	Exercise of Triggering
    Event Options	13
	7.6	Transfer
    of Class C Ordinary Shares	13

 

    3

     

    

 

Restated and
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	8.	Exchange
    of common shares	14
	8.1	Exchange
    Procedures	14
	8.1.1	Delivery of Exchange Notice
    and Settlement	14
	8.1.2	Optional Cash Exchange
    by Helix	15
	8.1.3	Change of Control Exchange	15
	8.1.4	Exchange of Restricted
    Common Shares	15
	8.2	Reserved
	16
	8.3	Splits,
    Distributions and Reclassifications	16
	8.4	Helix
    Covenants	17
	8.5	Exchange
    Taxes and Costs	17
	8.6	Helix
    Call Right	17
	8.7	Reserved	17
	8.8	Distribution
    Rights	18
	8.9	Tax
    Matters	18
	8.10	Representations
    and Warranties	18
	 	 	 
	9.	Reverse
    Founders’ Vesting	19
	9.1	Vesting
    Schedule	19
	9.2	Good
    Leaver Event	19
	9.3	Bad
    Leaver Event	19
	9.4	Exercise
    of Leaver Call Options	19
	 	 	 
	10.	Accession	20
	 	 	 
	11.	Term
    and Termination	20
	 	 	 
	12.	Miscellaneous	21
	12.1	Nature
    of Parties’ Rights and Obligations	21
	12.2	Confidentiality	22
	12.3	Successors
    and Assigns	22
	12.4	Costs
    and Expenses	23
	12.5	Notices	23
	12.6	Entire
    Agreement	24
	12.7	Severability	24
	12.8	Amendments	24
	12.9	Form
    Requirements	25
	12.10	Effectiveness	25
	 	 	 
	13.	Governing
    Law and arbitration	25
	13.1	Governing
    Law	25
	13.2	Arbitration	25

 

	List of Annexes	29
	 	 
	Annex 1: DEFINITIONS	30
	 	 
	Annex 3: CAP TABLE	38
	 	 
	Annex 4.2: ARTICLES	39
	 	 
	Annex 4.3: BOARD REGULATIONS	40
	 	 
	Annex 6.3.2: STANDSTILL	41
	 	 
	Annex 8: EXCHANGE NOTICE	42

 

    4

     

    

 

Restated and
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 Preamble

 

		A.	The Company is organized in the form of a Swiss stock corporation («Aktiengesellschaft»)
registered with the commercial register of the Canton of Zug under the number CHE-433.093.536.

 

		B.	The Company’s core business is the research, development, manufacturing and marketing of biotechnological,
pharmaceutical and similar products in Switzerland and abroad (the «Business»).

 

		C.	The Existing Investors (save for Simon Sturge and the Employees) and the Company have entered into an
investment agreement dated 28 April 2021, and each Series A Investor has entered into a share purchase agreement with each Founder or
the Company, respectively, dated 28 April 2021 (collectively the «Share Purchase Agreements»), and a shareholders’
agreement dated 28 April 2021 (the «Original Shareholders’ Agreement») in connection with the Series A
financing round of the Company. The Company and the Existing Investors have agreed to conduct a second financing round, whereby Helix,
a Nasdaq-listed special purpose acquisition company, has entered into a business combination agreement (the «Business Combination
Agreement») and an investment and subscription agreement (the «Investment Agreement»), each dated on October
4, 2021, in each case with the Existing Investors and the Company, whereby Helix will subscribe for a number of Voting Shares,
each with a nominal value of CHF 0.01, and will subsequently pay a certain remaining investment amount by way of a cash contribution
(Kapitalzuschuss) to the Company which will be recorded as “capital contribution reserves” (Kapitaleinlagereserven),
and each of Series A Investor 1, 2 and 3, will transfer on the closing of the Business Combination Agreement and the Investment Agreement
all its Common Shares to Helix in exchange for Class A Ordinary Shares of Helix (the «BVF Share Transfers»).
The transactions contemplated by the Business Combination Agreement and the Investment Agreement are referred to herein as the «Transaction».

 

		D.	The Parties agreed that the Existing Investors holding Common Shares may continue to own Common Shares
of the Company after the Transaction has been implemented and shall be granted the right to exchange these Common Shares and Class C Ordinary
Shares (the latter will be allocated to Existing Investors holding Common Shares at completion of the Transaction to convey to the Existing
Investors voting shares of Helix) into Class A Ordinary Shares in accordance with the provisions of this Agreement. Existing Investors
acquiring Common Shares upon exercise of Stock Options after the closing of the Transaction
shall be granted the same rights as Existing Investors holding Common Shares at completion. The Parties wish to limit certain statutory
shareholders rights of the Existing Investors in the Company as provided herein.

 

		E.	Concurrently with the registration of the Voting Shares in the Commercial Register of the Canton of Zug,
Switzerland, as part of the consummation of the Transaction, the Parties execute this Agreement to govern their respective rights and
obligations as Shareholders of the Company and provide for the rules governing the operation of the Company.

 

Based on the foregoing, the Parties
agree as follows:

 

		1.	Definitions
                                            and Scope

 

Capitalized terms used in this Agreement
shall have the meaning as set forth in Annex 1.

 

This Agreement shall apply with respect
to all Shares and Stock Options held by the Parties now and in the future.

 

    5

     

    

 

Restated and
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		2.	General
                                            Undertaking

 

The Shareholders acknowledge their
common intent to procure, and to generally co-operate with each other so as to ensure, that the Company will be managed and operated in
accordance with this Agreement.

 

Each Shareholder hereby undertakes
to the other Shareholders to (i) generally exercise their powers and voting rights as a shareholder of the Company and (ii) procure that
the Director(s) nominated by such Shareholder(s) exercise their powers and voting rights on the Board to the extent legally permissible
and compatible with the fiduciary duties of such Director(s), in a manner which is consistent with the terms of this Agreement, and to
ensure that the provisions of this Agreement are given full effect at all times during the term of this Agreement.

 

		3.	Ownership
                                            Structure AND CLASSES
                                            OF SHARES

 

		3.1	Share Capital

 

As at completion of the Transaction,
including the conversion of the Series A Preferred Shares into Common Shares and the execution and completion of the BVF Share Transfers
described in Preamble C, the share capital and ownership structure of the Company and the holdings of each Existing Investor and Helix
in the respective class of Shares shall be as set forth in the cap table in Annex 3.

 

Annex 3 provides for an
overview of the capital and ownership structure on a fully-diluted basis as at completion of the Transaction.

 

The Company represents and warrants
that Annex 3 is true, accurate and complete as of the date hereof and that the Existing Investors and the Employees are all
parties holding shares or equity-linked instruments (like Stock Options) in the Company as of the date hereof.

 

		3.2	Different
                                            Classes of Shares

 

As at completion of the Transaction
pursuant to the terms and conditions of the Business Combination Agreement and the Investment Agreement, the Company’s share capital
shall be divided into two different classes of Shares: Common Shares and Voting Shares.

 

The respective rights attaching to
each of the two different classes of Shares shall be as set forth in this Agreement, and, subject to the order of precedence set forth
in the second paragraph of Section 4.1 of this Agreement, in the Articles.

 

    6

     

    

 

Restated and
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		3.3	Employee
                                            Equity Incentive Plan

 

The Parties acknowledge that the Company
has implemented a share participation plan (SPP) and an employee stock option plan (ESOP), together the «Plans» and
agree to cause the Company, in the Board’s discretion, to continue to grant up to (i) [26,696] stock options with respect to the
acquisition of up to [26,696] Common Shares with a par value of CHF 0.1 per Common Share or (ii) [26,696] Common Shares, each with a
par value of CHF 0.1, under the Plans (the «Stock Options»); it being understood that, at the signing of this Agreement,
[2,775] options have been granted to employees of the Company of which none have been exercised by Employee shareholders.

 

To source the Common Shares issuable
upon exercise of the Stock Options, the Company has a conditional share capital of CHF [2,947.10] allowing for the issuance of [29,471]
Common Shares, as set forth in Articles (the «Conditional Capital»). The Common Shares needed for the Stock
Options shall be exclusively sourced from the existing Conditional Capital.

 

		3.4	Subscription
                                            Rights

 

Each Existing Investor undertakes
to Helix to waive, and hereby waives, any priority subscription rights (Vorwegzeichnungsrechte) and subscription rights (Bezugsrechte)
in the event of an increase of the Company’s share capital.

 

		4.	ORDER OF
                                            PRECEDENCE / ARTICLES AND BOARD REGULATIONS

 

		4.1	Order of
                                            Precedence

 

The rights and obligations of the
Shareholders in their respective capacities as shareholders of the Company, the organization of the Company, the organization of the Board
and the rights and responsibilities of the Directors shall be governed by this Agreement, the Articles, the Board Regulations and other
governing documents of the Company, as amended from time to time, in accordance with the relevant provisions contained therein.

 

Unless expressly provided otherwise
herein, the Articles, the Board Regulations and other governing documents of the Company shall, to the fullest extent permissible under
applicable laws, include at all times any provisions required to give full effect to the terms and conditions of this Agreement, if and
to the extent so requested by Helix.

 

In the event of any conflict or discrepancies
between the provisions of this Agreement and the Articles, the Board Regulations or any other governing documents of the Company, the
provisions of this Agreement shall prevail to the extent such conflicts or discrepancies pertain to matters between and among the Shareholders.

 

    7

     

    

 

Restated and
Amended Shareholders’ Agreement – MoonLake Immunotherapeutics AG

 

		4.2	Articles
                                            of Association

 

As at completion of the Transaction,
the Articles shall be substantially in the form as attached hereto as Annex 4.2.

 

		4.3	Board Regulations

 

As at completion of the Transaction,
the Company’s board regulations shall be substantially in the form as attached hereto as Annex 4.3 (the «Board
Regulations»).

 

		5.	BOARD OF
                                            DIRECTORS

 

		5.1	Representation
                                            on the Board and Initial Composition

 

The Board of Directors shall consist of at least five or more members who are elected by the Shareholders’ Meeting in accordance
with the Articles and applicable law, whereby each category of Shares is entitled to be represented on the Board, subject to different
contractual arrangements set forth herein.

 

The initial Directors shall be
Spike Loy, Arnout Michiel Ploos van Amstel, Simon Sturge, and Andrew Phillips or such other designee of a majority of the
Shareholders holding the majority of the Voting Shares as representatives of Helix on the Board and Dr. Jorge Santos da Silva, as representative of the Common Shares.

 

The initial Chairperson shall be Simon
Sturge. The Chairperson shall have the casting vote.

 

		5.2	Signing
                                            Authority

 

The Board shall not grant individual
signing authorities (Einzelzeichnungsberechtigung) to Directors and/or officers of the Company and all Directors shall be granted
collective signing powers (Kollektivzeichnungsberechtigung zu Zweien), unless only one Director or officer is domiciled in Switzerland.

 

		5.3	Presence
                                            Quorum

 

Upon first invitation, a Board meeting
is validly constituted, if at least the majority of all Board members (including a representative of the Shareholder holding the majority
of the Voting Shares) is present (including by virtual meeting in electronic form, video or telephone conference or other means of direct
communication).

 

If the presence quorum set forth in
the preceding paragraph is not met upon first invitation, the Board meeting shall be postponed and called again with at least five (5)
calendar days prior invitation and such second meeting shall take place at the same place and time and on the same weekday during normal
business hours (Eastern Time) two weeks after the meeting date specified in the first invitation unless otherwise agreed by all Board
members. In such second meeting, the Board meeting shall be validly constituted if at least the majority of all Board members are present.

 

No quorum requirement shall apply
for meetings at which the Board merely confirms in front of a notary the execution of a capital increase and resolves on changes of the
Articles in connection with a share capital increase resolved by the general meeting of the shareholders (in particular Art. 634a,
651 par. 4, 651a, 652e, 652g and 653g CO).

 

		5.4	Implementation
                                            of Board Resolutions

 

Each Shareholder hereby undertakes
to the other Shareholders to do all acts necessary to implement the resolutions and other actions by the Board taken in accordance with
this Section 5.

 

    8

     

    

 

Restated and
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		6.	Shareholders’
                                            Meeting

 

		6.1	General
                                            Undertaking

 

Each Shareholder hereby undertakes
to the other Shareholders to use commercially reasonable efforts to ensure that the Shareholders’ Meetings may be conducted in the
form of plenary meetings (Universalversammlungen) in the sense of Art. 701 CO.

 

		6.2	Undertakings
                                            by the Existing Investors

 

Each Existing Investor hereby undertakes
to the other Parties:

 

		a)	not
to exercise any of its shareholders’ rights pertaining to its Shares, other than the voting rights in accordance with the provisions
of this Agreement and the rights as Parties to this Agreement; and

 

		b)	to
exercise its voting rights pertaining to its Shares always in line with the proposals of the Board. Irrespective of the foregoing and
for the avoidance of doubt, in case Helix does not vote in line with the proposals of the Board, each Existing Investor shall exercise
its voting rights pertaining to its Shares in the same manner as Helix.

 

		6.3	Restricting
                                            Covenants and Waivers by the Existing Investors

 

		6.3.1	Restricting
                                            Covenants and Waivers by all Existing Investors

 

Each Existing Investor hereby contractually
undertakes to the other Parties to not exercise, and in that sense waives, the following statutory rights as shareholder in the Company
to the fullest extent permissible by law during the term of this Agreement:

 

		a)	the
right to request the return of benefits, paid to Shareholders, Directors and their Affiliates (Art. 678 and 679 CO);

 

		b)	the
right to request information about the affairs of the Company other than in the course of the Shareholders’ Meeting pursuant to
Art. 697 CO;

 

		c)	the
right to request the Shareholders’ Meeting to initiate a special audit (Art. 697a CO) and the right to request any governmental
authority to appoint a special auditor (Art. 697b CO);

 

		d)	the
right to request the Board to call a Shareholders’ Meeting and/or to put a certain item on the agenda of a Shareholders’
Meeting (Art. 699 CO);

 

		e)	the
right to challenge resolutions by the Shareholders’ Meetings (Art. 706 et seq. CO) and/or to request that resolutions by the Shareholders’
Meetings shall be null and void (Art. 706b CO) before any Governmental Authority;

 

		f)	the
right to request and/or elect a representative in the Board for the Common Share class (Art. 709 CO);

 

		g)	the
right to request that resolutions and other actions by the Board shall be null and void (Art. 714 and 706b CO) before any Governmental
Authority;

 

		h)	the
right to request a Governmental Authority to dissolve the Company for good cause (Art. 736 para. 4 CO);

 

		i)	the
right to bring liability claims as shareholder against the founders, the Directors, all persons involved in establishing the Company,
all persons engaged in the business management and/or liquidation of the Company, and/or auditors (Art. 753 – 755 CO); and

 

		j)	the
right to request a Governmental Authority to determine an appropriate compensation payment in the case of a statutory merger (Art. 105
Swiss Federal Merger Act).

 

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Restated and
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		6.3.2	Restricting Covenants and Waivers by Series A Investor 4

 

Series A Investor 4 hereby contractually
undertakes to the other Parties to adhere to the Standstill Provisions and the related undertakings set forth in Annex 6.3.2.

 

		6.4	Helix Call
                                            Options

 

		6.4.1	Triggering Events

 

Regardless of whether or not the Lock-up
Period has expired, Helix shall have the right, but not the obligation (the «Helix Call Options»), (i) to require an
Existing Investor to Exchange its Common Shares for Class A Ordinary Shares in accordance with the terms of Section 8.1 if an Existing
Investor does not comply with its contractual duties and obligations according to Sections 3.4, 6.1, 6.2 and/or 6.3.1 (the «Helix
Call Option Triggering Events 1») subject to the terms and conditions set forth herein and/or (ii) to require Series A Investor
4 to sell all of its Common Shares to Helix and to surrender to Helix all of its outstanding Class C Ordinary Shares for cancelation and
all of its Class A Ordinary Shares to Helix, each at their nominal value, if Series A Investor 4 does not comply with its contractual
duties and obligations according to Section 6.3.2 (the «Helix Call Option Triggering Events 2») subject to the
terms and conditions set forth herein.

 

		6.4.2	Exercise of Helix Call Options

 

Helix shall immediately notify the
respective non-complying Existing Investor of the occurrence of any of the Helix Call Option Triggering Events 1. If Helix wishes to exercise
its respective Helix Call Option it shall so notify the relevant non-complying Existing Investor and the other Parties within no later
than 30 calendar days following any of the Helix Call Option Triggering Events 1 becoming known to it in all material respects and state
in such notice the number of relevant Shares being subject to the Exchange in accordance with the terms of Section 8.1 («Helix
Call Option 1 Exercise Notice»).

 

Helix shall immediately notify Series
A Investor 4 of the occurrence of any of the Helix Call Option Triggering Events 2. If Helix wishes to exercise its respective Helix Call
Option it shall so notify Series A Investor 4 and the other Parties within no later than 30 calendar days following any of the Helix Call
Option Triggering Events 2 becoming known to it in all material respects and state in such notice the number of Common Shares to be sold
to Helix, the corresponding number of Class C Ordinary Shares to be surrendered to Helix for cancellation and the number of Class A Ordinary
Shares, to be sold to Helix at their nominal value each («Helix Call Option 2 Exercise Notice» and together with the
Helix Call Option 1 Exercise Notice, the «Helix Call Option Exercise Notices»). Promptly following the delivery of
the Helix Call Option 2 Exercise Notice, Series A Investor 4 shall transfer and assign to Helix all of the Common Shares, the Class C
Ordinary Shares and the Class A Ordinary Shares as specified in the Helix Call Option 2 Exercise Notice to Helix and Helix shall transfer
to Series A Investor 4 an amount corresponding to the nominal amounts of all Common Shares and the Class A Ordinary Shares in Helix as
specified in the Helix Call Option 2 Exercise Notice to Series A Investor 4.

 

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Restated and
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		7.	Transfer
                                            Restrictions

 

		7.1	General
                                            Provisions

 

Each Party acknowledges and agrees
that Shares shall be transferable or otherwise become subject to transactions only in accordance with Section 6.4 (Helix Call
Options), this Section 7 (Transfer Restrictions), Section 8 (Exchange of Common Shares), Section 9 (Reverse
Founders’ Vesting), and Section 11 (Helix Termination Event Option).

 

Each Shareholder hereby agrees to
use its commercially reasonable efforts to cause the Director(s), if any, nominated by such Shareholder to execute their powers and voting
rights on the Board so as to cause that each transfer of Shares in accordance with Sections 6 and 7, and only such transfer of Shares,
shall be approved by the Board and registered in the Company’s share register.

 

The Shares shall not be pledged, assigned
by way of security or otherwise used as security and shall remain free and clear of any liens, encumbrances, charges or any other third-party
rights. Unless expressly provided otherwise in this Agreement, the Shares shall not be transferable for a period of six (6) months after
the Effective Date (the «Lock-up Period»).

 

		7.2	Permitted
                                            Transfers

 

The restrictions under Sections 7.3,
of this Agreement shall not apply to the following transfers (each a «Permitted Transfer»):

 

		a)	any
transfer of Shares pursuant to Section 6.4;

 

		b)	After
the expiry of the Lock-up Period, any Exchange of Shares, other than the unvested Leaver Shares and otherwise locked-up portion of Shares
of the Founders and or the Employee shareholders (for instance, pursuant to the terms of the Plans or any other equity linked incentive
schemes or arrangements), held by the Existing Investors for Class A Ordinary Shares pursuant to the terms of Section 8;

 

		c)	any
Exchange of Common Shares and Restricted Common Shares in case of a Helix COC pursuant to the terms of Sections 8.1.3 and 8.1.4;

 

		d)	after
the expiry of the Lock-up Period, a transfer of Shares to an Affiliate provided that (i) such Affiliate declares to all Parties in writing
to be bound by the terms and conditions of this Agreement and to assume, jointly and severally, the transferring Shareholder’s
rights and obligations hereunder and (ii) if the Affiliate is about to cease being an Affiliate, then such Affiliate must immediately
retransfer the transferred Shares to the transferring Shareholder or an Affiliate of such transferring Shareholder;

 

		e)	after
the expiry of the Lock-up Period, a transfer of Shares held by current or former employees, Directors and/or service providers of the
Company or its subsidiaries to the Company or to Helix;

 

		f)	after
the expiry of the Lock-up Period, any transfer of Shares upon prior written approval by Helix;

 

		g)	after
the expiry of the Lock-up Period, any transfer of Shares, other than the unvested Leaver Shares or otherwise locked-up portion of Shares
of the Founders and or the Employee shareholders (for instance, pursuant to the terms of the Plans or any other equity linked incentive
schemes), amongst the Existing Investors; provided, that such transfer would not result in a Helix COC following an Exchange of all or
a portion of the Shares held by the acquiring Existing Investors after the transfer;

 

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Restated and
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		h)	after
the expiry of the Lock-up Period, any transfer of Shares pursuant to Section 7.4;

 

		i)	any
transfer of Shares pursuant to Section 7.5;

 

		j)	any
transfer of Shares pursuant to Section 11;  and

 

		k)	the BVF Share Transfers.

 

		7.3	Restricted
                                            Transfers

 

After the expiry of the Lock-up Period,
no Existing Investor shall transfer any of its Shares to any third party, unless such transfer is a Permitted Transfer.

 

		7.4	Drag-Along
                                            (Co-Sale Obligation)

 

In the event that Helix wishes to
(a) transfer 100% of its aggregate shareholdings in the Company in one or a series of related transactions to a proposed acquirer who
wishes to acquire all Shares in the Company pursuant to a bona fide purchase offer or (b) conduct and votes in favor of a merger
consolidation (other than one in which Shareholders of the Company own a majority by voting power of the outstanding shares of the surviving
or acquiring corporation) or a sale, lease, transfer, exclusive license or other disposition of all or substantially all of the assets
of the Company («Deemed Liquidation Event») which is approved by the Board (each of (a) and (b) a «Drag-Along
Event»), Helix shall have the right (but not the obligation) to require each and every Existing Investor (i) to Exchange its
Common Shares for Class A Ordinary Shares and/or (ii) to exercise its Stock Options into Common Shares and to subsequently Exchange such
Common Shares for Class A Ordinary Shares in accordance with the terms of Section 8.1 upon completion of the Deemed Liquidation Event
(«Drag-Along Right»).

 

In case of a Drag-Along Event, Helix
shall notify the other Existing Investors thereof with copy to the Company, mutatis mutandis in accordance with Section 8.1
(«Drag-Along Notice»). The Company shall inform each Existing Investor forthwith but not later than five (5) calendar
days after receipt of the Drag-Along Notice of (i) the date it received the Drag-Along Notice and (ii) the day the six (6) month period
for completion of the Deemed Liquidation Event expires.

 

The Deemed Liquidation Event shall
be completed no later than within six (6) months after the date of receipt of the Drag-Along Notice by the Company. If after the expiry
of six (6) months after the date of receipt of the Drag-Along Notice by the Company such Deemed Liquidation Event has not been completed,
each Existing Investor shall no longer be obliged to Exchange its Common Shares for Class A Ordinary Shares in accordance with the terms
of Section 8.1.

 

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		7.5	Triggering
                                            Event Option

 

		7.5.1	Triggering Event

 

Regardless of whether or not the Lock-up
Period has expired, Helix shall have (a) the right, but not the obligation (the «Triggering Event Option 1»), (i) to
require an Existing Investor to Exchange its Common Shares for Class A Ordinary Shares and/or (ii) to exercise its Stock Options into
Common Shares and to subsequently Exchange such Common Shares for Class A Ordinary Shares in accordance with the terms of Section 8.1
if an Existing Investor becomes insolvent, bankrupt, petitions or applies to any court, tribunal or other body or authority for creditor
protection or for the appointment of, or there shall otherwise be appointed any administrator, receiver, liquidator, trustee or other
similar officer of such Existing Investor or of all or a substantial part of such Existing Investor’s assets (the «Triggering
Event 1») and (b) the right, but not the obligation (the «Triggering Event Option 2» and together with the
Triggering Event Option 1, the «Triggering Event Options»), (i) to require all Existing Investors to Exchange their
Common Shares for Class A Ordinary Shares and/or (ii) to exercise their Stock Options into Common Shares and to subsequently Exchange
such Common Shares for Class A Ordinary Shares in accordance with the terms of Section 8.1 if the Company becomes insolvent, bankrupt,
petitions or applies to any court, tribunal or other body or authority for creditor protection or for the appointment of, or there shall
otherwise be appointed any administrator, receiver, liquidator, trustee or other similar officer of the Company or of all or a substantial
part of the Company’s assets (the «Triggering Event 2» and together with the Triggering Event 1, the «Triggering
Events»).

 

		7.5.2	Exercise of Triggering Event Options

 

The relevant Existing Investor or
the Company, as applicable, their legal successor, receiver, insolvency judge or any other person with the right to act on behalf of the
relevant Existing Investor or the Company or their estate, shall immediately notify Helix of the occurrence of the Triggering Event. If
Helix wishes to exercise its Triggering Event Option it shall so notify the relevant Existing Investor or the Company (or, as the case
may be, their legal successor, receiver, insolvency judge or any other person with the right to act on behalf of the relevant Existing
Investor or the Company or their estate) and the other Parties within no later than 30 calendar days following receipt of the notice of
the Triggering Event or, as the case may be, following the Triggering Event becoming known to them in all material respects and state
in such notice the number of relevant Common Shares being subject to the Exchange in accordance with the terms of Section 8.1 («Triggering
Event Option Exercise Notice»).

 

		7.6	Transfer
                                            of Class C Ordinary Shares

 

		a)	Each
Party acknowledges and agrees that Class C Ordinary Shares shall be transferable or otherwise become subject to transactions only in
accordance with Section 6.4 (Helix Call Options), this Section 7 (Transfer Restrictions), Section 8 (Exchange
of Common Shares), Section 9 (Reverse Founders’ Vesting), and Section 11 (Helix Termination Event Option).

 

		b)	Except as provided otherwise in this
                                                                                 Agreement, no Existing Investor holding Class C Ordinary Shares shall at any time transfer any of its Class C Ordinary Shares
                                                                                 («Class C Ordinary Shares Transfer Restriction»).

 

		c)	The
Class C Ordinary Shares Transfer Restriction as set forth in the preceding subsection 7.6(b) shall not apply in the event of a Permitted
Transfer of Common Shares as set forth in Section 7.2, in which case the transferring Existing Investor shall have the obligation
to transfer together with the transferred Common Shares a corresponding number of Class C Ordinary Shares (such number to be calculated
in accordance with the Exchange Ratio) to the transferee.

 

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		8.	Exchange
                                            of common shares

 

		8.1	Exchange
                                            Procedures

 

		8.1.1	Delivery
                                            of Exchange Notice and Settlement

 

		a)	Following the expiry of the Lock-up Period,
                                                          subject to the transfer restrictions set forth in Section 7 and upon the terms and subject to the conditions set forth in this
                                                          Section 8, the Existing Investors shall have the right to, by delivery of an Exchange Notice to Helix (with a copy to the
                                                          Company), Exchange their Common Shares for a number of Class A Ordinary Shares such Existing Investor is entitled to receive based
                                                          on the Exchange Ratio on the Exchange Date, whereupon a number of Class C Ordinary Shares belonging to the Exchanging Holder equal
                                                          to the number of Class A Ordinary Shares to be received by such Exchanging Holder shall be surrendered by the Exchanging Holder and,
                                                          on surrender, automatically cancelled in connection with the Exchange. 

 

		b)	Promptly
following the delivery of the Exchange Notice and in advance of any such Exchange, (i) the Exchanging Holder shall transfer the Exchanged
Shares to Helix and (ii) Helix shall transfer to the Exchanging Holder the number of Class A Ordinary Shares and/or the Cash Exchange
Payment that the Exchanging Holder is entitled to receive in the Exchange. In addition, on the Exchange Date, the Exchanging Holder shall surrender a number of Class C Ordinary Shares belonging to the Exchanging
Holder that is equal to the number of Class A Ordinary Shares that the Exchanging Holder is entitled to receive based on the Exchange
Ratio, which such Class C Ordinary Shares shall, on surrender, be automatically cancelled.

 

		c)	Each Common Share that is being transferred by
the Exchanging Holder will be exchangeable for a number of Class A Ordinary Shares that is equal to the product of the number of Common
Shares being transferred by such Exchanging Holder multiplied by the Exchange Ratio. Each Exchange Notice shall be in
the form set forth on Annex 8 and shall include all information required to be included therein.

 

		d)	In addition to any other rights available
                                                          to the Exchanging Holder and in addition to the obligation of Helix to deliver the Class A Ordinary Shares, if Helix fails to
                                                          deliver to the Exchanging Holder the Class A Ordinary Shares in accordance with the provisions of this Article 8 on or before the
                                                          Exchange Date (other than any such failure that is solely due to any action by the Exchanging Holder), and if after such date the
                                                          Exchanging Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Exchanging
                                                          Holder’s brokerage firm otherwise purchases, Class A Ordinary Shares to deliver in satisfaction of a sale by the Exchanging
                                                          Holder of the Class A Ordinary Shares which the Exchanging Holder anticipated receiving upon such exercise (a
                                                          «Buy-In»), then Helix shall pay in cash to the Exchanging Holder the amount, if any, by which (x) the Exchanging
                                                          Holder’s total purchase price (including brokerage commissions, if any) for the Class A Ordinary Shares so purchased as
                                                          required by its broker exceeds (y) the amount obtained by multiplying (1) the number of Class A Ordinary Shares that Helix was
                                                          required to deliver to the Exchanging Holder in connection with the Exchange by (2) the price at which the sell order giving rise to
                                                          such purchase obligation was executed. The Exchanging Holder shall provide to Helix (with a copy to the Company) written notice
                                                          indicating the amounts payable to the Exchanging Holder in respect of the Buy-In and, upon request of Helix, evidence of the
                                                          amount of such loss. Nothing herein shall limit a Exchanging Holder’s right to pursue any other remedies available to it
                                                          hereunder, including, without limitation, a decree of specific performance and/or injunctive relief with respect to Helix’s
                                                          failure to timely deliver Class A Ordinary Shares as required pursuant to the terms hereof.

 

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		8.1.2	Optional
                                            Cash Exchange by Helix

 

		a)	Within one (1) Trading Day of the delivery by
an Exchanging Holder of an Exchange Notice, Helix may elect to settle all or a portion of the Exchange in cash in an amount equal to the
Cash Exchange Payment (in lieu of the receipt by the Exchanging Holder of Class A Ordinary Shares) (a «Cash Exchange»),
exercisable by giving written notice of such election to the Exchanging Holder within such one (1) Trading
Day period (such notice, the «Cash Exchange Notice»). In the event that the settlement of an exchanged Common Share
into Class A Ordinary Shares leads to a fraction of such shares in connection with an Exchange, Helix shall either round to the nearest
whole share or pay the cash equivalent amount in lieu of any such fractional Class A Ordinary Share. The Cash Exchange Notice shall set
forth the portion of the Common Shares subject to the Cash Exchange that will be exchanged for cash in lieu of the receipt by the Exchanging
Holder of Class A Ordinary Shares. At any time following the giving of a Cash Exchange Notice and prior to the Exchange Date of the Cash
Exchange, Helix may elect (exercisable by giving written notice of such election to the Exchanging Holder)
to revoke the Cash Exchange Notice with respect to all of the Exchanged Shares and make the Stock Exchange Payment with respect to any
such Exchanged Shares on the Exchange Date.

 

		8.1.3	Change
                                            of Control Exchange

 

Regardless of whether or not the Lock-up
Period has expired, in the event of a Change of Control of Helix (a «Helix COC»), Helix may elect, pursuant to a written
notice given to the Existing Investors at least thirty (30) days prior to the consummation of the Helix COC (a «COC Notice»),
to require each such Existing Investor to exercise Stock Options, if any, and/or to effect an Exchange with respect to all of such Existing
Investor’s Common Shares (including any Common Shares received through the exercise of Stock Options), taking into account the conversion
of such Existing Investor’s Restricted Common Shares into Common Shares as a result of any such Helix COC (any such exchange, a
«COC Exchange») which shall be effective immediately prior to the consummation of the Helix COC (but such Exchange
shall be conditioned on the consummation of such Helix COC, and shall not be effective if such Helix COC is not consummated) (the date
of such Exchange, the «COC Exchange Date»). In connection with a COC Exchange, such Exchange shall be settled (including,
if Helix elects by delivery of a COC Notice, directly by Helix) (x) with the Stock Exchange Payment with respect to the Common Shares
subject to the COC Exchange or (y) in cash, so long as in each case each such Exchanging Holder receives the identical consideration,
on a per Common Share basis, that the holder of a Class A Ordinary Share would receive in connection with such Helix COC.

 

		8.1.4	Exchange
                                            of Restricted Common Shares

 

To the extent that any Restricted
Common Shares are subject to an Exchange Notice and are treated as Exchanged Shares under this Shareholders’ Agreement, then any
vesting restrictions under Section 9 that are applicable to such Exchanged Shares shall automatically apply to the Class A Ordinary Shares
issued to the Shareholders in the Exchange, irrespective whether this Agreement is terminated for such Exchanging Holder.

 

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		8.2	Reserved

 

		8.3	Splits,
                                            Distributions and Reclassifications

 

The Exchange Ratio and/or the components
of a Paired Interest shall be adjusted accordingly if there is: (i) any subdivision (by any stock, share or partnership interest split,
stock, share or partnership interest distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by
reverse stock, consolidation or unit split, reclassification, reorganization, recapitalization or otherwise) of the Class C Ordinary Shares
or Common Shares that is not accompanied by a substantially equivalent subdivision or combination of the Class A Ordinary Shares; or (ii)
any subdivision (by any stock or share split, stock dividend or distribution, reclassification, reorganization, recapitalization or otherwise)
or combination (by reverse stock split, consolidation, reclassification, reorganization, recapitalization or otherwise) of the Class A
Ordinary Shares that is not accompanied by a substantially equivalent subdivision or combination of the shares of Class C Ordinary Shares
and Common Shares. If there is any subdivision (by any stock, share or partnership interest split, stock, share or partnership interest
distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse stock, consolidation or unit
split, reclassification, reorganization, recapitalization or otherwise) in which the Class A Ordinary Shares are converted or changed
into another security, securities or other property, then upon any subsequent Exchange, an Exchanging Holder shall be entitled to receive
the amount of such security, securities or other property that such Exchanging Holder would have received (including as a result of any
election by such Shareholder, if afforded to all holders of Class A Ordinary Shares) if such Exchange had occurred immediately prior to
the effective date of such reclassification, reorganization, recapitalization or other similar transaction, taking into account any adjustment
as a result of any subdivision (by any split, distribution or dividend, reclassification, reorganization, recapitalization or otherwise)
or combination (by reverse split, consolidation, reclassification, recapitalization or otherwise) of such security, securities or other
property that occurs after the effective time of such reclassification, reorganization, recapitalization or other similar transaction.
For the avoidance of doubt, if there is any reclassification, reorganization, recapitalization or other similar transaction in which the
shares of Class A Ordinary Shares are converted or changed into another security, securities or other property, this Section 8.3
shall continue to be applicable, with respect to such other security or property. To the fullest extent permitted by applicable law, this
Shareholders’ Agreement shall apply to the Paired Interests held by the Shareholders and their permitted transferees as of the date
hereof, as well as any Paired Interests hereafter acquired by a Shareholder and his or her or its permitted transferees, subject to Section 4.
This Shareholders’ Agreement shall apply to, and all references to “Paired Interests” shall be deemed to include, any
security, securities or other property of Helix or the Company which may be issued in respect of, in exchange for or in substitution of
shares of Class C Ordinary Shares or Common Shares, as applicable, by reason of any distribution or dividend, split, subdivision, reverse
split, consolidation, combination, reclassification, reorganization, recapitalization, merger, exchange (other than an Exchange) or other
transaction. This Section 8.3 is intended to preserve the intended economic effect of Section 3 and this Section 8 and
to put each Shareholder in the same economic position, to the greatest extent possible, with respect to Exchanges as if such reclassification,
reorganization, recapitalization or other similar transaction had not occurred and shall be interpreted in a manner consistent with such
intent.

 

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		8.4	Helix Covenants

 

Helix shall at all times keep available,
solely for the purpose of issuance upon an Exchange, out of its authorized but unissued Class A Ordinary Shares, such number of Class
A Ordinary Shares that shall be issuable upon the Exchange (taking into account the Exchange Ratio) of all outstanding Common Shares (including
any Common Shares issued upon exercise of Stock Options as set forth herein) and Restricted Common Shares (other than those Common Shares
held by Helix or any Subsidiary of Helix); provided, that nothing contained in this Shareholders’ Agreement shall be construed to
preclude Helix from satisfying its obligations with respect to an Exchange by delivery of a Cash Exchange Payment. Helix covenants that
all Class A Ordinary Shares that shall be issued upon an Exchange shall, upon issuance thereof, be validly issued, fully paid and non-assessable,
free and clear of all liens and encumbrances. In addition, for so long as the Class A Ordinary Shares are listed on a stock exchange or
automated or electronic quotation system, Helix shall cause all Class A Ordinary Shares issued upon an Exchange to be listed on such stock
exchange or automated or electronic quotation system at the time of such issuance. For purposes of this Section 8.4, references to
the “Class A Ordinary Shares” shall be deemed to include any Equity Securities issued or issuable as a result of any reclassification,
combination, subdivision or similar transaction of the Class A Ordinary Shares that any Shareholder would be entitled to receive pursuant
to Section 8.3.

 

		8.5	Exchange
                                            Taxes and Costs

 

The issuance of Class A Ordinary Shares
upon an Exchange shall be made without charge to the Exchanging Holder for any stamp or other similar tax in respect of such issuance;
provided, however, that if any such Class A Ordinary Shares are to be issued in a name other than that of the Exchanging Holder (subject
to the restrictions in Section 4), then the person or persons in whose name the shares are to be issued shall pay to Helix the amount
of any additional tax that may be payable in respect of any transfer involved in such issuance in excess of the amount otherwise due if
such shares were issued in the name of the Exchanging Holder or shall establish to the satisfaction of Helix that such additional tax
has been paid or is not payable.

 

Apart from the above, all necessary
and required costs and taxes incurred and/or arising in connection with an Exchange, including (but not limited to) security transfer
and similar taxes, stock exchange fees, and other transfer related costs shall be borne by Helix (for the avoidance of doubt, other than
income taxes), regardless of whether they are incurred by the Exchanging Holder or Helix. For the avoidance of doubt, the BVF Share Transfers
do not qualify as an Exchange in the foregoing sense and each of the Parties thereto shall bear its own costs and taxes incurred and/or
arising in connection with the BVF Share Transfers.

 

		8.6	Reserved

 

		8.7	Reserved

 

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		8.8	Distribution
                                            Rights

 

No Exchange shall impair the right
of the Exchanging Holder to receive any distributions payable on the Common Shares redeemed pursuant to such Exchange in respect of a
record date that occurs prior to the Exchange Date for such Exchange. No Exchanging Holder, or a person designated by an Exchanging Holder
to receive Class A Ordinary Shares, shall be entitled to receive, with respect to such record date, distributions or dividends both on
Common Shares redeemed by the Company from such Exchanging Holder and on Class A Ordinary Shares received by such Exchanging Holder, or
other Person so designated, if applicable, in such Exchange.

 

		8.9	Tax
                                            Matters

 

Helix, the Company, and any applicable
(paying) agent shall be entitled to apply, deduct or withhold taxes to the extent required by applicable Law. Prior to any Exchange, or
upon the Company’s reasonable request, each Existing Investor shall deliver to the Company, or its paying agent, if applicable (with
a copy to Helix), a duly executed, accurate and properly completed Internal Revenue Service Form W-9 or an appropriate IRS Form W-8, as
applicable. If the information on any such form provided by an Existing Investor changes, or upon the Company’s reasonable request,
the Existing Investor shall provide the Company with an updated version of such form.

 

The Parties agree to reasonably cooperate
to structure any Exchange in a manner that is tax efficient to the Exchanging Holder.

 

		8.10	Representations
                                            and Warranties

 

In connection with any Exchange, (i) upon the acceptance of the Class A Ordinary Shares or an
amount of cash equal to the Cash Exchange Payment, the Exchanging Holder shall represent and warrant that the Exchanging Holder is the
owner of the number of Common Shares that the Exchanging Holder is electing to Exchange and that such Common Shares are not subject to
any liens or restrictions on transfer (other than restrictions imposed by this Shareholders’ Agreement, the memorandum and articles
of association and governing documents of Helix and applicable Law), and (ii) if Helix elects a Stock Exchange Payment, Helix shall represent
that (A) the Class A Ordinary Shares issued to the Exchanging Holder in settlement of the Stock Exchange Payment are duly authorized,
validly issued, fully paid and non-assessable and were issued in compliance in all material respects with applicable securities laws,
and (B) the issuance of such Class A Ordinary Shares issued to the Exchanging Holder in settlement of the Stock Exchange Payment does
not conflict with or result in any breach of the organizational documents of Helix.

 

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		9.	Reverse
                                            Founders’ Vesting

 

		9.1	Vesting
                                            Schedule

 

90% of the Shares held by each of
the Founders following the closing of the Share Purchase Agreements (the «Leaver Shares») shall be considered unvested
and, therefore, be subject to a reverse vesting and respective call option (the «Leaver Call Options») as further set
forth in this Section 9.

 

The Leaver Shares of each Founder
shall (reverse) vest over a period of 2 years as follows (the «Vesting Period»): On the date which is 1 month from
the date of the Original Shareholders’ Agreement and, subsequently, each following month until the second anniversary of the closing
of the Share Purchase Agreements, 4.166% of the Leaver Shares shall vest, whereas (i) fractions of Shares shall be rounded up to the next
full number and (ii) any excess Leaver Shares shall vest on the last vesting instalment.

 

Upon the occurrence of a Sale, all
unvested Leaver Shares shall accelerate (i.e. vest) fully as per the date of the occurrence of the Sale.

 

		9.2	Good
                                            Leaver Event

 

If, before the end of the Vesting
Period, the employment relationship of the relevant Founder is terminated and the Founder qualifies as a Good Leaver, all unvested Leaver
Shares shall accelerate (i.e. vest) fully as per the date of the end of the employment relationship of the relevant Founder.

 

		9.3	Bad
                                            Leaver Event

 

If, before the end of the Vesting
Period, the employment relationship of the relevant Founder is terminated and the Founder qualifies as a Bad Leaver, the Company in first
priority (within the limitations of Art. 659 CO and 680 CO) and Helix in second priority, shall have an option to purchase all or a portion
of the Leaver Shares that are unvested on the day the termination becomes effective at nominal value.

 

		9.4	Exercise
                                            of Leaver Call Options

 

In the event of a termination of the
employment relationship of a Founder, provided such Founder qualifies as a Bad Leaver, the Company shall notify the other Parties within
30 days of the effective date of termination (the «Leaver Notice»).

 

Each beneficiary (being the Company
and Helix) of the Leaver Call Option wishing to exercise their Leaver Call Option shall so notify the Company and the other Parties within
30 calendar days following receipt of the Leaver Notice and state in such notice the number of relevant Shares it intends to purchase
(«Leaver Call Option Exercise Notice»). Irrespective of the above, the Company may elect that Helix exercises all Leaver
Call Option.

 

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The transfer of the relevant Leaver
Shares against payment of the purchase price (nominal value) shall be consummated within 60 calendar days from the date of Leaver Call
Option Exercise Notice.

 

Each Founder hereby (i) assigns and
transfers to the other relevant Parties (being the Company or Helix), and each such other relevant Party hereby accepts such assignment
and transfer, upon and with effect as of the occurrence of a transfer event, in each case, as required to effect a transfer of Shares
by such Founder pursuant to this Section 9, (ii) undertakes to procure that the Director(s) nominated by such Shareholder execute
their powers and voting rights on the Board so as to ensure that each transfer of Shares in accordance with this Section 9 and only
such transfer of Shares be approved by the Board and registered in the Company’s share register, and (iii) undertakes to execute
all documents (including, but not limited to, separate assignment declarations) and take all other actions as may be reasonably required
to effect each transfer of Shares in accordance with this Section 9.

 

		10.	Accession

 

Each Shareholder and the Company undertakes
to the other Shareholders that no person or entity shall become a Shareholder of the Company or a holder of Stock Options unless and until
such person or entity shall first have submitted to the Company an accession declaration satisfactory to the Company pursuant to which
such person or entity agrees to be fully bound by and be entitled pursuant to the terms and conditions of this Agreement. The Parties
agree that the accession of a third party may take place by unilateral declaration to the Company (representing the Parties); provided,
that the conditions stipulated by this Agreement for the acquisition of Shares by the third party have been met or the Stock Option has
been exercised in line with its terms. Any party acceding to this Agreement in the foregoing sense or becoming holder of Common Shares
pursuant to Sections 7.2(d) and 7.2(f) of this Agreement shall be deemed as from the time of accession an Existing Investor (as defined
and used herein) for the purpose of this Agreement with corresponding rights and obligations.

 

		11.	Term
                                            and Termination

 

This Agreement shall come into force
for each Party and replace the Original Shareholders’ Agreement and the Employee Shareholders’ Agreement upon the Effective
Date and shall continue to be effective and in force until the earlier of:

 

		a)	the
date on which the last Existing Investor has Exchanged its last Common Share and after having exercised all Stock Options, if any, for
a Class A Ordinary Share in accordance with the terms of Section 8; and

 

		b)	15
years.

 

After expiry of the fixed term pursuant
to Section 11 b) and subject to Section 11 a), this Agreement shall continue to be in effect for successive periods
of 5 years unless terminated by any Shareholder upon 12 months’ prior written notice to all other Parties. Any termination by a
Shareholder shall only be effective with respect to the respective Shareholder, and shall be without prejudice to the continued binding
effect of this Agreement for all other Parties. Any accrued rights and obligations of the relevant Party existing at the time of such
termination and, for the avoidance of doubt, any restrictions and/or obligations contained in Section 12.2 shall continue to apply
to such Party as provided therein.

 

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Any Shareholder that ceases to be
a Shareholder of the Company in accordance with the provisions of this Agreement and, for the purpose of the BVF Share Transfers
only, the Business Combination Agreement and the Investment Agreement, shall automatically cease to be a Party to this Agreement and
shall be released from the provisions hereof; provided, however, that if the Existing Investors could lose their rights under
Section 8 of this Agreement as a result of any such Shareholder ceasing to be a Party to this Agreement and being released from the
provisions thereof, then such Existing Investors shall be given reasonable advance notice of such event. Such cessation and release
shall be without prejudice to any accrued rights and obligations of the relevant Shareholder existing at the time of such cessation
and release and, for the avoidance of doubt, any restrictions and/or obligations contained in Section 12.2 shall continue to
apply as provided therein.

 

For Series A Investor 4, the restrictive
covenants set forth in Section 6.3.2 and the Helix Call Options set forth in Section 6.4 and any parts of this Agreement referred
to therein or relating thereto shall continue to apply for an indefinite period.

 

In the event of death or bankruptcy
of a Party or if a Shareholder otherwise ceases to be a Shareholder, this Agreement shall continue among the remaining Parties (without
prejudice to Section 12.3).

 

In the event of termination of this
Agreement Helix shall have the right, but not the obligation, to require all other Parties to Exchange all of their Shares for Class A
Ordinary Shares in accordance with the terms of Section 8.1 (the «Helix Termination Event Option»).

 

		12.	Miscellaneous

 

		12.1	Nature
                                            of Parties’ Rights and Obligations

 

Except as specifically provided otherwise
in this Agreement, the rights and obligations of the Parties hereunder shall be several (and not joint). Each of the Parties may exercise
and enforce their rights hereunder individually in accordance with this Agreement, and the non-performance by the Company or another Shareholder
shall neither relieve the Company nor any other Shareholder from performing its obligations under this Agreement, nor shall the Company
(provided it is not the defaulting Party) or any other Shareholder be liable for the non-performance by the defaulting Party.

 

The Parties shall not be permitted
to perform legal acts in the name of and on account of the Parties collectively. The obligations of the Parties hereunder are contractual
in nature and the Parties agree that they do not form, and this Agreement shall not be deemed to constitute, a simple partnership pursuant
to Art. 530 et seq. CO.

 

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		12.2	Confidentiality

 

Each of the Parties agrees to keep
secret and confidential and not to use, disclose or divulge to any third party or to enable or cause any person to become aware of, any
of the terms and conditions of this Agreement, and any information exchanged among the Parties in connection with their investment and
common shareholdings in the Company or pertaining to the business and the operation of the Company (all such information collectively
«Confidential Information»). The Parties shall ensure that their employees, directors and any other representatives
as well as the advisors of each Party to whom any such Confidential Information is entrusted comply with these restrictions.

 

The term Confidential Information
shall not include any information (i) which as of the time of its disclosure by a Party was already lawfully in the possession of the
receiving Party as evidenced by written records, or (ii) which at the time of the disclosure was in the public domain, or (iii) the disclosure
of which was previously explicitly authorized by the respective Party.

 

The non-disclosure obligation shall
not apply to any disclosure of Confidential Information required by law or regulations, including, for the avoidance of doubt, any stock
market rules. In the event a disclosure of Confidential Information is required by law or regulations (including, without limitation,
for tax, audit or regulatory purposes), the disclosing Party shall use all reasonable efforts to arrange for the confidential treatment
of the materials and information so disclosed.

 

No announcement or press releases
regarding the transactions contemplated by the Business Combination Agreement shall be made by any Party without the prior written consent
of the Board (such consent not to be unreasonably withheld).

 

It is acknowledged and agreed that
Helix may report regularly to its investors and/or any of its Affiliates on information pertaining to the Company and the equity investment
made or to be made in the Company in accordance with its reporting obligations under its fund investment documents or to the extent required
for legal, tax, audit or regulatory purposes.

 

Nothing herein shall restrict the
Company from granting third parties customary due diligence access for purposes of financial, commercial, strategic or similar transactions.

 

		12.3	Successors
                                            and Assigns

 

This Agreement shall be binding upon
and shall inure to the benefit of the Parties and their respective permitted successors and assigns; provided, however, that neither the
Company nor a Shareholder shall be entitled to assign or transfer any of the rights or obligations hereunder to any other party except
as explicitly provided for under this Agreement or with the prior written consent of Helix and the Company. For the avoidance of doubt,
if a Shareholder dies, the legal successor(s) shall automatically become a Party to this Agreement.

 

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		12.4	Costs
                                            and Expenses

 

Except as otherwise explicitly stated
in this Agreement and without prejudice to the terms of the Investment Agreement or the Business Combination Agreement, it is agreed that
all Parties bear their respective costs and expenses arising out of or incurred in connection with this Agreement and all transactions
contemplated hereby.

 

		12.5	Notices

 

All notices and other communications
made or to be made under this Agreement (including an Exchange Notice) shall be: (i) given in electronic form and be delivered by email
to the addresses indicated below and (ii) deemed to have been given when received by email (with written confirmation of receipt) prior
to 5:00 p.m. local time of the recipient on a business day and, if otherwise, on the next business day.

 

For purposes of email communication,
the following addresses shall apply, unless otherwise notified by a Party:

 

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	All notices and other communications made or to be made under this Agreement (including an Exchange Notice) shall also provide a copy (which shall not constitute notice) to:
	
    Gibson, Dunn & Crutcher LLP

    555 Mission Street

    San Francisco, CA 94105

    Attention: Ryan Murr, Evan D’Amico and Branden
    C. Berns

    Email: RMurr@gibsondunn.com,

    EDAmico@gibsondunn.com,

    BBerns@gibsondunn.com
	
    Kellerhals Carrard Basel KlG

    Henric Petri-Strasse 35, 4010

    Basel, Switzerland

    Attention: Nicolas Mosimann

    Email: nicolas.mosimann@kellerhals-carrard.ch

 

If the number of Shareholders exceeds
10, notices and other communications made or to be made to Shareholders by another Shareholder under this Agreement may, alternatively,
be given in electronic form and be delivered by email to the Chairperson, who shall forward the notices and communications received without
delay to each of the Shareholders.

 

		12.6	Entire
                                            Agreement

 

Except as otherwise explicitly stated
in this Agreement, this Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes
any agreement or understanding with respect to the subject matter hereof that may have been concluded between any of the Parties prior
to the date of this Agreement, including but not limited to the Original Shareholders’ Agreement and the Employee Shareholders’
Agreement.

 

		12.7	Severability

 

If at any time any provision of this
Agreement or any part thereof is or becomes invalid or unenforceable, then neither the validity nor the enforceability of the remaining
provisions or the remaining part of the provision shall in any way be affected or impaired thereby. The Parties agree to replace the invalid
or unenforceable provision or part thereof by a valid or enforceable provision, which shall best reflect the Parties’ original intention
and shall to the extent possible achieve the same economic result.

 

		12.8	Amendments

 

This Agreement (including this Section 12.8)
may be amended only by an instrument in the form as set forth below in Section 12.9.

 

Amendments or modifications of the
Articles, Board Regulations, or other constitutive, organizational and governing documents shall not require an amendment of this Agreement,
provided, however, that such amendment or modification is made in accordance with the provisions hereof including the consent requirements
applicable for such amendments or modifications under this Agreement.

 

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Notwithstanding anything contained
herein to the contrary, the Parties acknowledge and agree that this Agreement may be amended in writing by an instrument signed solely
by Helix, the Company and holders of a majority of the Common Shares with binding effect on all other Parties; provided, however, that
any such modification or amendment of any of the provisions of this Agreement shall neither affect any accrued rights of any other Party
nor impose any greater liability or any more onerous obligation than those contained in this Agreement on the other Parties who do not
sign such modification or amendment.

 

		12.9	Form
                                            Requirements

 

This Agreement may be executed and
amended in writing or in electronic form (such as Skribble, DocuSign or AdobeSign, or which contains an electronic scan of the signature)
and be delivered by post, courier or email; the counterpart so executed and delivered shall be deemed to have been duly executed and validly
delivered and be valid and effective for all purposes.

 

For the avoidance of doubt, any instruments
or documents required to be issued, signed, delivered and/or exchanged in connection with the performance of this Agreement, including,
without limitation, any documents for the transfer of Shares (such as assignment declarations) must comply with form requirements imposed
by applicable laws.

 

		12.10	Effectiveness

 

This Agreement shall become effective
as of the registration of the Nominal Capital Increase (as defined in the Investment Agreement) in the commercial register of the Canton
of Zug, Switzerland.

 

		13.	Governing
                                            Law and arbitration

 

		13.1	Governing
                                            Law

 

This Agreement shall in all respects
be governed by and construed in accordance with the substantive laws of Switzerland, excluding the United Nations Convention on Contracts
for the International Sales of Goods of 11 April 1980 (CISG).

 

		13.2	Arbitration

 

Any dispute, controversy, or claim
arising out of, or in relation to, this Agreement, including the validity, invalidity, breach, or termination thereof, shall be resolved
by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Arbitration Centre in force on the date on
which the Notice of Arbitration is submitted in accordance with those Rules. The number of arbitrators shall be three. The seat of the
arbitration shall be Zurich and the arbitration proceedings shall be conducted in English; provided that evidence may be submitted to
the arbitration tribunal in German without translation into English.

 

*****

 

[Remainder of page intentionally
left blank / Signature pages to follow]

 

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Series A Investor 1

 

Biotechnology Value Fund L.P.

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Series A Investor 2

 

Biotechnology Value Fund II L.P.

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Series A Investor 3

 

Biotechnology Value Trading Fund OS L.P.

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Series A Investor 4

 

Merck Healthcare KGaA, Darmstadt, Germany

an affiliate of Merck KGaA, Darmstadt, Germany

 

	Signature:	 	 
	 	 	 
	Name:	 	 

 

	Signature:	 	 
	 	 	 
	Name:	 	 

 

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Series A Investor 5

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Series A Investor 6

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Helix Acquisition Corp.

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Founder 1

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Founder 2

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Founder 3

 

JeruCon Beratungsgesellschaft mbH

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

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Employee 1

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Employee 2

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Employee 3

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Employee 4

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Employee 5

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

Company

 

MoonLake Immunotherapeutics AG

 

	Signature(s):	 	 
	 	 	 
	Name(s):	 	 

 

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List of Annexes

 

		Annex 1:	Definitions

 

		Annex 3:	Cap Table

 

		Annex 4.2:	Articles

 

		Annex 4.3:	Board Regulations

 

		Annex 6.3.2	Standstill

 

		Annex 8	Exchange Notice

 

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Annex 1: DEFINITIONS

 

	Affiliates	shall mean any individual, firm, corporation, partnership, association, limited liability company, trust or any other entity that directly or indirectly is controlled by or is under common control with a Party or that directly or indirectly controls a Party, including, without limitation, any venture capital fund or registered investment company now or hereafter existing that is managed or advised by such Party or by the same advisor as such Party, provided, however, that the ultimate beneficial owner of such Party is and remains the ultimate beneficial owner of the relevant firm, corporation, partnership, association, limited liability company, trust or other entity.
	 	 
	Agreement	shall mean this shareholders’ agreement including all of its Annexes and related documents, as amended from time to time.
	 	 
	Annex	shall mean an annex to this Agreement.
	 	 
	Articles	shall mean the articles of association (Statuten) of the Company attached to this Agreement in Annex 4.2 (as amended from time to time in accordance with the terms of this Agreement). 
	 	 
	Bad Leaver	
    shall mean
any person whose employment relationship with the Company or any of its subsidiaries is terminated:

 

		a)	by the Company or the relevant subsidiary for any reason which
justified or would have justified the termination of the employment agreement for cause (aus wichtigen Gründen) within the
meaning of Art. 337 CO or such foreign law as may be applicable for determining termination for cause, provided that any reason qualifying
as «cause» within Art. 337 CO shall constitute «cause» also for the purposes of any foreign applicable law; and

 

		b)	by the person in question for any reason which does not justify
or would not have justified the termination of the employment agreement for cause (aus wichtigen Gründen) within the meaning
of Art. 337 CO or such foreign law as may be applicable for determining termination for cause, provided that any reason qualifying as
«cause» within Art. 337 CO shall constitute «cause» also for the purposes of any foreign applicable law.

 

	Board	shall mean the board of directors of the Company.
	 	 
	Board Regulations	shall mean the organizational regulations of the Company attached to this Agreement in Annex 4.3 (as amended from time to time by the Board in accordance with the terms of this Agreement).
	 	 
	Business	shall have the meaning given in preamble B.
	 	 
	Business Combination Agreement	shall have the meaning given in preamble C.
	 	 
	Buy–In	shall have the meaning given in Section 8.1.1 d).
	 	 
	BVF Share Transfers	shall have the meaning given in preamble C.

 

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	Cash Exchange	shall have the meaning given in Section 8.1.2 a).
	 	 
	Cash Exchange Payment	shall mean a cash payment (in lieu of Class A Ordinary Shares), in the amount equal to the product of (i) the arithmetic average of the VWAP for each of the three (3) consecutive Trading Days ending on the last Trading Day immediately prior to the delivery of the Exchange Notice, multiplied (ii) by the number of Class A Ordinary Shares which the Exchanging Holder would have obtained based on the Exchange Ratio.
	 	 
	Certificate Delivery	shall mean, in the case of any Class C Ordinary Shares to be transferred and surrendered by an Exchanging Holder in connection with an Exchange which are represented by a certificate or certificates, the process by which the Exchanging Holder shall also present and surrender such certificate or certificates representing such shares of Class C Ordinary Shares during normal business hours at the principal executive offices of Helix, or if any agent for the registration or transfer of Class C Ordinary Shares is then duly appointed and acting, at the office of such transfer agent, along with any instruments of transfer reasonably required by Helix or such transfer agent, as applicable, duly executed by Helix or Helix’s duly authorized representative. 
	 	 
	Chairperson	shall mean the chairman or chairwoman of the Board (VerwaltungsratspräsidentIn).
	 	 
	Change of Control	
    shall mean:

     

 

		a)	in respect of the Company, any transfer of Shares in one
or a series of related transactions that results in the proposed acquirer (including a Shareholder) holding directly, or indirectly through
one or more intermediaries, more than 50% of the then issued share capital of the Company;

 

		b)	in respect of a Shareholder, any change in the control of
such Shareholder, in one or a series of related changes or transactions (including a sale, merger, transfer of assets or any other form
of disposition or corporate restructuring in respect of such holder) that result in another person not previously controlling such Shareholder,
acquiring directly, or indirectly through one or more intermediaries, control of such Shareholder, whereby «control», «controlled»
or «controlling» shall mean that a person (either acting alone or with its Affiliates), not previously controlling the Shareholder,
becomes the legal or beneficial owner of more than 50% of the voting rights or equity capital in such Shareholder, or is otherwise able
to exercise a controlling influence over the board of directors or management or officers or similar corporate body of such Shareholder;
and

 

		c)	in respect of Helix, any transfer of the share capital of
Helix in one or a series of related transactions that results in the proposed acquirer (including a Shareholder) holding directly, or
indirectly through one or more intermediaries, more than 50% of the then issued share capital of Helix, whereby such percentage shall
be calculated on an as exchanged Common Shares into Class A Ordinary Shares basis.

 

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	Class A Ordinary Shares	shall mean Helix Class A ordinary shares.
	 	 
	Class C Ordinary Shares	shall mean Helix Class C ordinary shares.
	 	 
	Class C Ordinary Shares Transfer Restriction	shall have the meaning given in Section 7.6(b).
	 	 
	CO	shall mean the Swiss Code of Obligations (Obligationenrecht), as amended.
	 	 
	COC Exchange	shall have the meaning given in Section 8.1.3.
	 	 
	COC Exchange Date	shall have the meaning given in Section 8.1.3.
	 	 
	COC Notice	shall have the meaning given in Section 8.1.3.
	 	 
	Commission	shall mean the U.S. Securities and Exchange Commission, including any Governmental Entity succeeding to the functions thereof.
	 	 
	Common Shares	shall mean the common shares of the Company with a nominal value of CHF 0.10 each, existing prior to and as of the consummation of the Transaction contemplated by the Business Combination Agreement and the Investment Agreement, for the avoidance of doubt, including the converted Series A Preferred Shares as described in preamble C. 
	 	 
	Company	shall have the meaning given on the cover page of this Agreement.
	 	 
	Conditional Capital	shall have the meaning given in Section 3.3.
	 	 
	Confidential Information	shall have the meaning given in Section 12.2.
	 	 
	Deemed Liquidation Event	shall have the meaning given in Section 7.4.
	 	 
	Director(s)	shall mean any member of the Board as appointed from time to time in accordance with this Agreement.
	 	 
	Drag-Along Event	shall have the meaning given in Section 7.4.
	 	 
	Drag-Along Notice	shall have the meaning given in Section 7.4.
	 	 
	Drag-Along Right	shall have the meaning given in Section 7.4.
	 	 
	Effective Date	shall mean the date as of the registration of the Nominal Capital Increase (as defined in the Investment Agreement) in the commercial register of the Canton of Zug, Switzerland.
	 	 
	Employee(s)	shall have the meaning given on page 2 of this Agreement.

 

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	Employee Shareholders’ Agreement	shall mean the employee shareholders’ agreement of 23 July 2021, as amended from time to time.
	 	 
	Equity Securities	shall mean, with respect to any person, all of the shares of capital stock or equity of (or other ownership or profit interests in) such person, all of the warrants, options or other rights for the purchase or acquisition from such person of shares of capital stock or preferred interests or equity of (or other ownership or profit interests in) such person, all of the securities convertible into or exchangeable for shares of capital stock or equity of (or other ownership or profit interests in) such person, including convertible debt securities, or warrants, rights or options for the purchase or acquisition from such person of such shares or equity (or such other interests), restricted stock awards, restricted stock units, equity appreciation rights, phantom equity rights, profit participation and all of the other ownership or profit interests of such person (including partnership or member interests therein), whether voting or nonvoting.
	 	 
	Exchange	shall mean (a) the exchange of Common Shares
    held by an Existing Investor (together with the surrender and cancellation of the number of outstanding Class C Ordinary Shares held
    by such Existing Investor equal to the number of Class A Ordinary Shares such Existing Investor is entitled to receive based on the
    Exchange Ratio), with Helix, acting as counterparty for such exchange, for either (i) a Stock Exchange Payment or (ii) a Cash
    Exchange Payment. 
	 	 
	Exchange Act	shall mean the Securities Exchange Act of 1934.
	 	 
	Exchange Date	shall mean any time promptly following the Exchange Notice, but no later than the date that is two (2) Trading Days after the Exchange Notice Date.
	 	 
	Exchange Notice 	shall mean a written election of Exchange in the form of Annex 8, duly executed by the Exchanging Holder.
	 	 
	Exchange Notice Date	shall mean, with respect to any Exchange Notice, the date such Exchange Notice is given to the Company in accordance with Section 8.

 

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	Exchange Ratio	shall mean the number of Class A Ordinary Shares for which a Common Share (together with the cancellation of the number of Class C Ordinary Shares equal to the number of such Class A Ordinary Shares) is entitled to be Exchanged. On the date of this Agreement, the Exchange Ratio shall be 33.638698, subject to adjustment pursuant to Section 8.3 of this Agreement. 
	 	 
	Exchanged Shares	shall mean, with respect to any Exchange, the Common Shares being exchanged pursuant to a relevant Exchange Notice, and 33.638698 Class C Ordinary Shares per Common Share held by the relevant Exchanging Holder.
	 	 
	Exchanging Holder	shall mean any Existing Investor holding Common Shares whose Common Shares are subject to an Exchange.
	 	 
	Existing Investor	shall have the meaning given on the cover page of this Agreement taking into account the extension of the defined term according to Section 10.
	 	 
	Founder/s	shall have the meaning given on the cover page of this Agreement.
	 	 
	Good Leaver	shall mean any person whose employment relationship with the Company or any of its subsidiaries is terminated for any reason other than a reason that would qualify the person to be a Bad Leaver.
	 	 
	Governmental Entity	shall mean any nation or government, any state, province or other political subdivision thereof, any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any court, arbitrator (public or private) or other body or administrative, regulatory or quasi-judicial authority, agency, department, board, commission or instrumentality of any federal, state, local or foreign jurisdiction.
	 	 
	Helix	shall have the meaning given on the cover page of this Agreement.
	 	 
	Helix Call Options	shall have the meaning given in Section 6.4.1.
	 	 
	Helix Call Option 1 Exercise Notice	shall have the meaning given in Section 6.4.2.
	 	 
	Helix Call Option 2 Exercise Notice	shall have the meaning given in Section 6.4.2.
	 	 
	Helix Call Option Exercise Notice	shall have the meaning given in Section 6.4.2.
	 	 
	Helix Call Option Triggering Events 1	shall have the meaning given in Section 6.4.1.
	 	 
	Helix Call Option Triggering Events 2	shall have the meaning given in Section 6.4.1.
	 	 
	Helix COC	shall have the meaning given in Section 8.1.3.
	 	 
	Helix Termination Event Option	shall have the meaning given in Section 11.
	 	 
	Investment Agreement	shall have the meaning given in preamble C.

 

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	Investor/s	shall have the meaning given on the cover page of this Agreement.
	 	 
	Law	shall mean all laws, acts, statutes, constitutions, treaties, ordinances, codes, rules, regulations and rulings of a Governmental Entity, including common law. All references to “Laws” shall be deemed to include any amendments thereto, and any successor Law, unless the context otherwise requires.
	 	 
	Leaver Call Options	shall have the meaning given in Section 9.1.
	 	 
	Leaver Call Option Exercise Notice	shall have the meaning given in Section 9.4.
	 	 
	Leaver Notice	shall have the meaning given in Section 9.4.
	 	 
	Leaver Shares	shall have the meaning given in Section 9.1.
	 	 
	Lock-up Period	shall have the meaning given in Section 7.1.
	 	 
	Original Shareholders’ Agreement	shall have the meaning given in preamble C.
	 	 
	Paired Interest	shall mean one Common Share together with 33.638698 Class C Ordinary Share. 
	 	 
	Party/Parties	shall mean each Shareholder and the Company and any further parties acceding to this Agreement in accordance with its terms from time to time.
	 	 
	Person	shall mean any natural person, sole proprietorship, partnership, joint venture, trust, unincorporated association, corporation, limited liability company, entity or governmental entity.
	 	 
	Permitted Transfer	shall have the meaning given in Section 7.2
	 	 
	Plans	shall have the meaning given in Section 3.3.
	 	 
	Preamble 	shall mean the preamble of this Agreement. 
	 	 
	Principal Trading Market	shall mean the Trading Market on which the Class A Ordinary Shares are primarily listed on and quoted for trading, which, as of the date of this Agreement, shall be the Nasdaq Capital Market.
	 	 
	Restricted Common Share	shall mean the Common Shares that are restricted subject to vesting, with the rights and privileges as set forth in this Shareholders’ Agreement.
	 	 
	Sale	
    shall mean:

    

    

    

 

		a)	the
sale, transfer or other disposal (whether through a single transaction or a series of related transactions) of the Shares that result
in a Change of Control of Helix or the Company; or

 

		b)	any
transaction qualifying as a Drag-Along Event.

 

	Section	shall mean a section of this Agreement.
	Securities Act	shall mean the Securities Act of 1933, as amended.

 

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	Series A Investor(s)	shall have the meaning given on the cover page of this Agreement and shall further include any party who has subsequently acceded to this Agreement in accordance with Section 9 as a Series A Investor.
	 	 
	Series A Preferred Shares	shall mean the series A preferred registered shares of the Company existing prior to the consummation of the transactions contemplated by the Investment Agreement. 
	 	 
	Share Purchase Agreement	shall have the meaning given in preamble C.
	 	 
	Shareholder	shall mean each and any holder of Shares who has executed this Agreement and shall further include any holder of Shares who has subsequently acceded to this Agreement as a Party in accordance with Section 10.
	 	 
	Shareholders’ Meeting	shall mean any duly convened ordinary or extraordinary shareholders’ meeting of the Company (including universal meetings).
	 	 
	Shares	shall mean any shares (Aktien) or participations (Partizipationsscheine) issued by the Company from time to time.
	 	 
	Standstill Provisions	shall have the meaning given in Annex 6.3.2.
	 	 
	Stock Exchange Payment	shall mean, with respect to any Exchange of Common Shares for which a Stock Exchange Payment is elected by Helix, a number of Class A Ordinary Shares equal to the number of Common Shares so exchanged.
	 	 
	Stock Option	shall have the meaning given in Section 3.3.
	 	 
	Subsidiaries	shall mean of any Person, any corporation, association, partnership, limited liability company, joint venture or other entity of which more than fifty percent (50%) of the voting power or equity is owned or controlled directly or indirectly by such Person, or one or more of the Subsidiaries of such Person, or a combination thereof. 
	 	 
	Trading Day	shall mean (i) a day on which the Class A Ordinary Shares are listed or quoted and traded on their Principal Trading Market (other than the OTC Bulletin Board), or (ii) if the Class A Ordinary Shares are not listed on a Trading Market (other than the OTC Bulletin Board), a day on which the Class A Ordinary Shares are traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Class A Ordinary Shares are not quoted on any Trading Market, a day on which the Class A Ordinary Shares are quoted in the over-the-counter market as reported in the “pink sheets” by Pink Sheets LLC (or any similar organization or agency succeeding to its functions of reporting prices).
	 	 

 

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	Trading Market	shall mean whichever of the New York Stock Exchange, the NYSE MKT, the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the OTC Bulletin Board on which the Class A Ordinary Shares are listed or quoted for trading on the date in question.
	 	 
	Transaction	shall have the meaning given in preamble C.
	 	 
	 	 
	Triggering Event 1	shall have the meaning given in Section 7.5.1.
	 	 
	Triggering Event 2	shall have the meaning given in Section 7.5.1.
	 	 
	Triggering Events	shall have the meaning given in Section 7.5.1.
	 	 
	Triggering Event Option 1	shall have the meaning given in Section 7.5.1.
	 	 
	Triggering Event Option 2	shall have the meaning given in Section 7.5.1.
	 	 
	Triggering Event Option Exercise Notice	shall have the meaning given in Section 7.5.2.
	 	 
	Vesting Period	shall have the meaning given in Section 9.1.
	 	 
	Voting Shares	shall mean the preferred voting shares of the Company with a nominal value of CHF 0.01 each existing after the consummation of the transactions contemplated by the Investment Agreement and having 10 times the voting power of a Common Share.
	 	 
	VWAP	means the daily per share volume-weighted average price of the Class A Ordinary Shares on the Nasdaq, or, if the Nasdaq Global Market is not the principal trading market for the Class A Ordinary Shares on such day, then on the principal national securities exchange or securities market on which the Class A Shares are then traded, as displayed under the heading Bloomberg VWAP on the Bloomberg page designated for the Class A Ordinary Shares (or its equivalent successor if such page is not available) in respect of the period from the open of trading on such Trading Day until the close of trading on such Trading Day (or if such volume-weighted average price is unavailable) (a) the per share volume-weighted average price of a Class A Ordinary Shares on such Trading Day (determined without regard to after-hours trading or any other trading outside the regular trading session or trading hours), or (b) if such determination is not feasible, the market price per Class A Ordinary Shares, in either case as determined by a nationally recognized independent investment banking firm retained in good faith for this purpose by Helix.

 

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Annex
3: CAP TABLE

 

[Omitted.]

 

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Restated and
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Annex
4.2: ARTICLES

 

[Omitted.]

 

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Restated and
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Annex
4.3: BOARD REGULATIONS

 

[Omitted.]

 

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Annex
6.3.2: STANDSTILL

 

		a)	Series
A Investor 4 agrees that, outside of its shareholding in the Company at the time hereof and the existing exchange rights into securities
of Helix, neither Series A Investor 4 nor any of its Affiliates will, directly or indirectly:

 

		(i)	make,
or in any way participate in, any solicitation of proxies to vote, or seek to advise or influence any person with respect to the voting
of, any voting securities of the Company, Helix or any of their Subsidiaries, or seek or propose to influence, advise, change or control
the management, board of directors, policies, affairs or strategy of the Company or Helix by way of any public communication, or other
communications, to security holders intended for such purpose,

 

		(ii)	make
a proposal for any acquisition of, or similar extraordinary transaction involving, the Company, Helix or a material portion of their
securities or assets (other than non-public proposals made to such party’s board of directors; provided that, for the avoidance
of doubt, any such proposal is made on a confidential basis and would not require any party to make a public announcement regarding any
of the actions set forth in this Annex 6.3.2), it being understood, for the avoidance of doubt, that an exchange request from Series
A Investor 4 relating to its shareholding in the Company to be exchanged into shares in Helix or legal successor thereof shall not be
deemed such acquisition of Helix securities hereunder and shall remain permitted at all times,

 

		(iii)	acquire,
agree to acquire, or publicly propose or offer to acquire, whether by means of a private or open market purchase, a block trade, a tender
or exchange offer, a merger, consolidation or other form of business combination transaction or in any other manner, (1) beneficial ownership
(as defined in Rule 13d-3 under the Exchange Act) of, any economic interest in, any right to direct the voting or disposition of, or
any other right with respect to any publicly traded securities of the Company, Helix or any of their Subsidiaries or (2) ownership of
any publicly traded indebtedness of the Company, Helix or any of their Subsidiaries, in each case including any rights or options to
acquire such ownership through derivative or any other form of transaction; provided that, Series A Investor 4 may acquire securities
of Helix in a private placement transaction in connection with the transactions contemplated by the Business Combination Agreement,

 

		(iv)	seek
to control or influence the management or policies of the Company, Helix, the board of directors of the Company or Helix or policies
of the Company or Helix, including any of their Subsidiaries; for the avoidance of doubt, using shareholder rights (such as the right
to vote at shareholder meetings) from the shares held in the Company and/or Helix at the time hereof shall continue to be permitted and
not restricted in any way whatsoever, save for the restrictive covenants relating to the Company shares as per this Agreement, or

 

		(v)	enter
into any agreements or understandings with any Person (other than in connection with the transactions contemplated by the Business Combination
Agreement) for the purpose of any of the actions described in clauses (i), (ii), (iii), or (iv) above; this paragraph a) including its
subsections the «Standstill Provisions».

 

		b)	Notwithstanding
anything to the contrary contained herein, the prohibitions set forth in this Annex 6.3.2 Section a) above shall not apply to (i) any
investment in any securities of the Company or Helix or any of their Subsidiaries or other Affiliates by or on behalf of any independently
managed pension plan, employee benefit plan or trust, including without limitation (A) any direct or indirect interests in portfolio
securities held by an investment company registered under the Investment Company Act of 1940, as amended, or (B) interests in securities
composing part of a mutual fund or broad based, publicly traded market basket or index of stocks approved for such a plan or trust in
which such plan or trust invests; or (ii) securities of the Company or Helix or any of their Subsidiaries or other Affiliates held by
a Person acquired by Series A Investor 4 (or any of its Affiliates) on the date such Person first entered into an agreement to be acquired
by Series A Investor 4 (or such Affiliate) or acquired after such Person was acquired by Series A Investor 4 (or such Affiliate) pursuant
to an agreement requiring (but only to the extent requiring) such Person to acquire such securities, which agreement was in effect on
the date such Person first entered into an agreement to be acquired by Series A Investor 4 (or such Affiliate), or (iii) any assets or
securities of the Company or Helix, as debtor, that are acquired in a transaction subject to the approval of the competent bankruptcy
court pursuant to proceedings under the applicable bankruptcy legislation in the relevant jurisdiction.

 

		c)	In
addition, the Standstill Provisions shall automatically terminate and be of no further force and effect with respect to Series A Investor
4, without any action on the part of any Party hereto, at the earlier of (y) December 31, 2024 or (z) if either (i) the Company or Helix
enters into a definitive written agreement with any Person other than Series A Investor 4 (or any of its Affiliates) to consummate a
transaction involving the acquisition of all or a majority of the voting power of the Company’s or Helix’s outstanding equity
securities or all or substantially all of the consolidated assets of the Company or Helix and its consolidated Subsidiaries, other than
in connection with the Business Combination Agreement (whether by merger, consolidation, business combination, tender or exchange offer,
recapitalization, restructuring, sale, equity issuance or otherwise), or (ii) a tender or exchange offer for at least a majority of the
Company’s or Helix’s outstanding equity securities, other than in connection with the Business Combination Agreement, is
commenced by any Person other than Series A Investor 4 or any of its Affiliates and such third-party files a Schedule TO with the United
States Securities and Exchange Commission and (A) Company’s or Helix’s board of directors has recommended in favor of such
offer, or fails to recommend that its stockholders reject such offer within five business days after its commencement or (B) the Company
or Helix has entered into a confidentiality agreement with the tendering Person or an affiliate of the tendering Person. Furthermore,
if the Company or Helix engages in a formal process to sell itself or any of its material assets, then Company or Helix (as the case
may be) shall, if consistent with the fiduciary duties of the Company or Helix (as the case may be) as determined by the Company or Helix
(as the case may be), invite Series A Investor 4 to participate in such process at the same time as, and on substantially the same basis
generally applicable to, other participants in such process.

 

Unless otherwise defined herein,
the capitalized terms shall have the meaning as ascribed to them in the Annex 1 (Definitions) of this Agreement.

 

    41

     

    

 

Restated and
Amended Shareholders’ Agreement – MoonLake Immunotherapeutics AG

 

Annex
8: EXCHANGE NOTICE

 

Dated: _____________

 

MoonLake Immunotherapeutics AG

c/o KD Zug-Treuhand AG

Untermüli 7

6302 Zug

Attention: Matthias Bodenstedt

 

Reference is hereby made to
the Restated and Amended Shareholders Agreement of MoonLake Immunotherapeutics AG, dated as of [●], 2021 (as amended from time to
time in accordance with its terms, the “Shareholders’ Agreement”), a Swiss stock corporation (Aktiengesellschaft)
incorporated under the laws of Switzerland (the “Company”), by and among Helix Acquisition Corp, a Cayman Islands exempted
company (“Helix”), the Existing Investors to the Shareholders’ Agreement (the “Continuing Investors”) and
each other person who is or at any time becomes a holder of Common Shares in accordance with the terms of this Shareholders’ Agreement
and the CO (such persons, together with Helix and the Continuing Investors, the “Shareholders”). Capitalized terms used but
not defined herein shall have the meanings given to them in the Shareholders’ Agreement.

 

Effective as of the Exchange
Date as determined in accordance with the Shareholders’ Agreement, the undersigned Shareholder hereby transfers, assigns and surrenders
to __________________________ the number of Common Shares set forth below and the number of Class C Ordinary Shares equal to the number
of Class A Ordinary Shares such Shareholder is entitled to receive based on the Exchange Ratio in Exchange for the issuance to the undersigned
Shareholder of the number of Class A Ordinary Shares equal to the number of Common Shares so exchanged multiplied by the Exchange Ratio,
or, at the election of Helix, for a Cash Exchange Payment to the account set forth below, in each case in accordance with the Shareholders’
Agreement. The undersigned hereby acknowledges that the Exchange of Common Shares shall include the cancellation of that certain number
of outstanding Class C Ordinary Shares held by the undersigned that have been surrendered in such Exchange.

 

	 	
    

    Legal Name of Shareholder:
	 

 

	Address:	 

 

	 	Number of Common Shares (incl. share numbers) to be Exchanged:
	 	________________________________________________________________________________________________

 

	 	Cash Exchange Payment Instructions:	______________________
	 	Stock Exchange Payment Instructions:	 

 

If the Shareholder desires
the Class A Ordinary Shares be settled through the facilities of The Depositary Trust Company (“DTC”), please indicate the
account of the DTC participant below.

 

In the event Helix elects
to certificate the Class A Ordinary Shares issued to the Shareholder, please indicate the following:

 

	 	Legal Name for Certificate Delivery:	 

 

	 	Address for Certificate Delivery:	 
	 	 	 

 

The undersigned hereby represents
and warrants that the undersigned is the owner of the number of Common Shares the undersigned is electing to Exchange pursuant to this
Exchange Notice, and that such Common Shares are not subject to any liens or restrictions on transfer (other than restrictions imposed
by the Shareholders’ Agreement, the memorandum and articles of association and governing documents of Helix and applicable Law).

 

The undersigned hereby irrevocably
constitutes and appoints any officer of Helix, as applicable, as the attorney of the undersigned, with full power of substitution and
resubstitution in the premises, solely to do any and all things and to take any and all actions necessary to effect the Exchange elected
hereby.

 

[Signatures on Next Page]

 

    42

     

    

 

Restated and
Amended Shareholders’ Agreement – MoonLake Immunotherapeutics AG

 

 

IN WITNESS WHEREOF the undersigned
has caused this Exchange Notice to be executed and delivered as of the date first set forth above.

 

	 	
    [Shareholder]

    wet ink signature required

	 	 
	 	By:	               
	 	  
	 	Name:
	 	 
	 	Title:

 

 

43

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