Document:

EX-10.26

 [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and
filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Exhibit
10.26 
 LICENSE AGREEMENT 

This License Agreement (this “Agreement”) is made effective as of June 20, 2012 (the “Effective Date”) by and between
Karagen Pharmaceuticals, Inc., a Maryland close corporation with a principal place of business at 4 Club Road, Baltimore, Maryland 21210 (“Licensor”), and Aduro BioTech, Inc. (“Licensee”), a Delaware corporation
with a place of business at 626 Bancroft Way, Berkeley, CA 94710. Licensor and Licensee are each hereafter referred to individually as a “Party” and together as the “Parties”. 

WHEREAS, Licensor is the owner of or otherwise Controls certain proprietary Licensed Patent Rights and Licensed Technology (as defined below);

 WHEREAS, Licensee desires to obtain certain licenses from Licensor under such Licensed Patent Rights and Licensed Technology to develop
and commercialize Licensed Products, which licenses will include both exclusive and nonexclusive license rights as well as options; 

WHEREAS, Licensor has represented to Licensee that Licensor has entered into a license agreement (the “Preexisting License”) with a
Third Party (“Preexisting Licensee”) for non-exclusive rights with an option to convert its current licensed rights in the Product Rights, all of which are nonexclusive, to exclusive with regard to one or more infectious diseases on a
disease-by-disease basis (the “Preexisting Options”)) on the terms as they exist on the date hereof and specifically described in Exhibit A hereto (“Preexisting Rights”); 

WHEREAS, Licensee has relied on those representations of Licensor relating to the Preexisting License and Preexisting Rights as one basis for
entering into this Agreement; and 
 WHEREAS, Licensor desires to grant such license to Licensee on the terms and subject to the conditions
of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows. 
 1. DEFINITIONS 

Whenever used in the Agreement with an initial capital letter, the terms defined in this Article 1 shall have the meanings specified. 

1.1 “Affiliate” shall mean any corporation, firm, limited liability company, partnership or other entity that directly
controls or is controlled by or is under common control with a Party to this Agreement. For purposes of this Section 1.1, “control” means ownership, directly or indirectly through one or more Affiliates, of fifty percent
(50%) or more of the shares of stock entitled to vote for the election of directors, in the case of a corporation, or fifty percent 

  
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(50%) or more of the equity interests in the case of any other type of legal entity, status as a general partner in any partnership, or any other arrangement whereby a Party controls or has the
right to control the Board of Directors or equivalent governing body of a corporation or other entity. 
 1.2 “BLA”
shall mean a biologics license application (as defined in Title 21 of the United States Code of Federal Regulations, as amended from time to time) filed with the FDA seeking Regulatory Approval to market and sell any Licensed Product in the United
States for a particular indication within the Exclusive Licensed Field or Non-Exclusive Licensed Field. 
 1.3 “Confidential
Information” shall mean with respect to a Party (the “Receiving Party”), all information that is disclosed or has been previously disclosed by the other Party (the “Disclosing Party”) to the Receiving Party hereunder
or to any of its Affiliates or its or their directors, officers, employees, or agents, except to the extent that the Receiving Party can demonstrate by written record or other suitable physical evidence that such information, (a) as of the date
of disclosure is demonstrably known to the Receiving Party or its Affiliates other than by virtue of a prior confidential disclosure to such Party or its Affiliates; (b) as of the date of disclosure is in, or subsequently enters, the public
domain, through no fault or omission of the Receiving Party; (c) is obtained from a Third Party having a lawful right to make such disclosure free from any obligation of confidentiality to the Disclosing Party; or (d) is independently
developed by or for the Receiving Party without reference to or reliance upon any Confidential Information of the Disclosing Party. 
 1.4
“Control” or “Controlled” shall mean with respect to any Patent Rights or Technology, the possession by a Party of the ability to grant a license or sublicense of such Patent Rights or Technology as
provided for herein without violating the terms of any arrangement or agreements written or otherwise between such Party and any Third Party or without requiring such Party to make undue payment to any Third Party. 

1.5 “Drug Approval Application” shall mean any application for Regulatory Approval (including pricing and
reimbursement approvals) required prior to any commercial sale or use of a Licensed Product in any country or jurisdiction in the Territory, including, without limitation, (a) any BLA or MAA filed with the FDA or any Foreign Regulatory
Authority, and (b) any equivalent application filed with any Foreign Regulatory Authority for Regulatory Approval (including pricing and reimbursement approvals) required prior to any commercial sale or use of a Licensed Product in any country
or jurisdiction in the Territory. 
 1.6 “Exclusive Licensed Field” shall mean human medical and veterinary uses of
a Licensed Product for therapeutic and/or prophylactic treatment of cancer or precancerous conditions. For the sake of clarity, this Exclusive Licensed Field includes the therapeutic and/or prophylactic treatment of cancer or precancerous conditions
caused by infectious agents, but excludes therapeutic and/or prophylactic treatment of the infectious agent itself. For example, the Exclusive Licensed Field includes the prevention and treatment of cervical cancer in humans, but does not include
the treatment of human papilloma virus. 

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

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 1.7 “FDA” shall mean the United States Food and Drug Administration and
any successor agency or authority thereto. 
 1.8 “First Commercial Sale” shall mean, on a country-by-country basis,
the date of the first arm’s length sale to a Third Party of a Licensed Product by or on behalf of Licensee or any Affiliate or Sublicensee of Licensee in such country as part of a coordinated country-wide commercialization effort. 

1.9 “Foreign Regulatory Authorities” shall mean any applicable supranational, national, federal, state or local
regulatory agency, department, bureau or other governmental entity of any country or jurisdiction in the Territory (other than the FDA in the United States), having responsibility in such country or jurisdiction for any Regulatory Approvals of any
kind in such country or jurisdiction, and any successor agency or authority thereto. 
 1.10 “ID” shall mean
infectious disease. 
 1.11 “Improvements” shall mean any enhancement, invention or discovery created or identified
by Licensor during the Term that constitutes an improvement to the Licensed Patent Rights or Licensed Technology to their subject matter. 

1.12 “IND” shall mean an investigational new drug application (as defined in Title 21 of the United States Code of
Federal Regulations, as amended from time to time) filed or to be filed with the FDA with regard to any Licensed Product. 
 1.13
“Licensed Patent Rights” means all Patent Rights relating to the Exclusive License Field or the Nonexclusive License Field that are Controlled by Licensor as of the Effective Date or become Controlled by Licensor during the
Term, to the extent reasonably necessary or useful for the manufacture, use or sale of the Licensed Products. The Licensed Patent Rights as of the Effective Date are listed in Exhibit B, attached hereto and made a part hereof.
Exhibit B shall be updated by Licensor by written notice to Licensee on an annual basis during the Term to include any additional patents and patent applications not previously listed; however, the inclusion or exclusion of a patent or
patent application from Exhibit B is not to be deemed a conclusive indication of whether that patent or application is or should be considered a “Licensed Patent Right” for purposes of this Agreement. 

1.14 “Licensed Product” shall mean any product, the making, using, selling, importing or providing a service the
conduct of which would, absent the license granted to Licensee hereunder, infringe any Valid Claim included in the Licensed Patent Rights. 

1.15 “Licensed Technology” shall mean and include all Technology, whether or not patentable, including but not limited
to formulations, techniques and materials, Controlled by Licensor as of the Effective Date or that becomes Controlled by Licensor during the Term that (a) is related to any patent or patent application included in the Licensed Patent Rights or
(b) is reasonably necessary or useful for Licensee to practice the license granted to it hereunder. 

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

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 1.16 “License Term” shall mean, with respect to each Licensed Product,
the period commencing on the Effective Date and continuing on a country-by-country basis until the last to expire of the Licensed Patent Rights covering the Licensed Product in each country. 

1.17 “MAA” shall mean an application filed with the relevant Foreign Regulatory Authorities in Europe seeking
Regulatory Approval to market and sell any Licensed Product in Europe or any country or territory therein for a particular indication within the Exclusive Licensed Field or Non-Exclusive Licensed Field. 

1.18 “Net Sales” shall mean the amounts invoiced for all Licensed Products sold by Licensee and Affiliates and
Sublicensees to Third Parties throughout the Territory during each calendar quarter, less the following deductions, exclusions and other amounts incurred or paid by Licensee or its Affiliates or Sublicensees with respect to sales of Licensed
Products regardless of the calendar quarter in which such sales were made, provided that should sales not be sufficient to cover deductions such deductions may be carried to following calendar quarters: 

(a) trade, cash and quantity discounts or rebates actually allowed or taken including, without limitation, discounts or rebates to
governmental or managed care organizations; 
 (b) credits or allowances actually given or made for rejection or return of previously sold
Licensed Products (including Medicare and similar types of rebates) and amounts attributable to uncollectible and bad accounts; 
 (c) any
charges for insurance, freight, and other transportation costs directly related to the delivery of Licensed Product to the extent included in the gross invoiced sales price; 

(d) any tax, tariff, duty or governmental charge levied on the sales, transfer, transportation or delivery of a Licensed Product (including
any tax such as a value added or similar tax or government charge) borne by the seller thereof, other than franchise or income tax; and 

(e) any import or export duties or their equivalent borne by the seller. 

“Net Sales” shall not include (i) intermediate sales or transfers of Licensed Product between Licensee and its Affiliates or Sublicensees that
are not arm’s length transactions, (ii) samples or quantities of Licensed Product used for access or assistance programs; (iii) Licensed Product used in preclinical and clinical trials or other research, and (iv) charitable and
compassionate uses of Licensed Product or product tenders. 
 If Licensed Product is ever bundled with other products or equipment, in order to determine
the portion of the sales price for the bundle that should be allocated to “Net Sales”, the Parties shall approve a formula that accurately determines the portion of the sales price for the bundle that reflects the fair market value of the
Licensed Product when compared to the sum of the fair market value of all products in the bundle, based on the fair market value of a product when it is sold separately in the relevant sales channel and jurisdiction. 

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

  
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 1.19 “Non-Exclusive Licensed Field” shall mean all human medical and
veterinary uses of Licensed Product other than those used in the Exclusive Licensed Field. 
 1.20 “Option Subfield”
shall mean a Subfield designated by Licensee within the Non-Exclusive Licensed Field for inclusion within the Exclusive Licensed Field. 

1.21 “Patent Rights” shall mean the rights and interests in and to issued patents and pending patent applications
(including inventor’s certificates and utility models) in any country or jurisdiction within the Territory, including all provisionals, substitutions, continuations, continuations-in-part, divisionals, supplementary protection certificates,
renewals, all letters patent granted thereon, and all reissues, reexaminations, extensions, confirmations, revalidations, registrations, patents of addition thereof, PCTs, foreign counterparts, and industrial rights Controlled by a Party. 

1.22 “Phase II Clinical Study” shall mean, as to a particular Licensed Product for a particular indication, a
controlled and lawful study in humans of the safety, dose ranging and efficacy of such Licensed Product for such indication, that is prospectively designed to generate sufficient data (if successful) to commence a Phase III Clinical Trial of
such Licensed Product for such indication. 
 1.23 “Phase III Clinical Trial” shall mean, as to a particular
Licensed Product for a particular indication, a controlled and lawful study in humans of the safety and efficacy of such Licensed Product for such indication, that is prospectively designed to demonstrate statistically whether such Licensed Product
is safe and effective for use in such indication in a manner sufficient to file a BLA to obtain Regulatory Approval to market and sell that Licensed Product in the United States for the indication under investigation in such study. 

1.24 “Regulatory Approval” shall mean any and all approvals (including pricing and reimbursement approvals), product
and establishment licenses, registrations or authorizations of any kind of the FDA or any Foreign Regulatory Authority necessary for the development, pre-clinical and/or human clinical testing, manufacture, quality testing, supply, use, storage,
importation, export, transport, marketing and sale of a Licensed Product (or any component thereof) for use in the Exclusive Licensed Field or Non-Exclusive Licensed Field in any country or other jurisdiction in the Territory. “Regulatory
Approval” shall include, without limitation, any BLA, MAA or other Drug Approval Application. 
 1.25
“Subfield” shall mean a disease or condition, or set of related diseases or conditions, for which Regulatory Approval can be sought for a Licensed Product. For instance, “autoimmune disorders” and “metabolic
disorders and obesity, and related disorders” are both Subfields. 
 1.26 “Sublicensee” shall mean any Third
Party to whom Licensee grants a sublicense of some or all of the rights granted to Licensee under this Agreement. 

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

  
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 1.27 “Technology” shall mean and include any and all unpatented,
proprietary ideas, inventions, discoveries, Confidential Information, biologic materials, data, results, formulae, designs, specifications, methods, processes, formulations, techniques, ideas, know-how, technical information (including, without
limitation, structural and functional information), process information, pre-clinical information, clinical information, and any and all proprietary biological, chemical, pharmacological, toxicological, pre-clinical, clinical, assay, control and
manufacturing data and materials. 
 1.28 “Term” shall have the definition set forth in Section 9.1. 

1.29 “Territory” shall mean worldwide. 

1.30 “Third Party” shall mean any person or entity other than Licensee, Licensor and their respective Affiliates. 

1.31 “Valid Claim” shall mean those claims of a patent or patent application in any country that (i) has not
expired; (ii) has not been disclaimed; (iii) has not been revoked, held invalid, or otherwise declared unenforceable or not allowable by a tribunal or patent authority of competent jurisdiction over such claim in such country from which no
further appeal has or may be taken; and (iv) in the case of a pending application, was filed and is being prosecuted in good faith towards allowance for a period not to exceed [ * ] years. 

2. GRANT OF RIGHTS 
 2.1
Licenses. 
 2.1.1 Grant of Exclusive License. Licensor hereby grants to Licensee an exclusive, royalty-bearing
license, including the right to grant sublicenses in accordance with Section 2.1.3, under the Licensed Patent Rights and Licensed Technology and Licensor’s interest in any Improvements, to make, have made, develop, have developed, use,
have used, sell, have sold, offer for sale, commercialize, have commercialized, import, have imported, export and have exported Licensed Products in the Territory, for any and all uses within the Exclusive Licensed Field, subject to the terms and
conditions of this Agreement. 
 2.1.2 Grant of Nonexclusive License. Licensor hereby grants to Licensee a non-exclusive
royalty-bearing license under the Licensed Patent Rights and Licensed Technology and Licensor’s interest in any Improvements to make, have made, develop, have developed, use, have used, sell, have sold, offer for sale, commercialize, have
commercialized, import, have imported, export and have exported Licensed Products in the Territory, for any and all uses within the Nonexclusive Licensed Field, subject to the terms and conditions of this Agreement. 

2.1.3 Right to Sublicense. Licensee shall have the right to grant sublicenses to any Sublicensee to all or any portion of its rights
under the license granted pursuant to this Article 2; provided, however, that (a) Licensor shall be notified of any and all Sublicenses, and (b) Licensee shall remain obligated for the payment to Licensor of all of its

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

  
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payment obligations hereunder, including, without limitation, the payment of any royalties described in Section 4.2 hereof. Licensee shall be permitted to require a Sublicensee to pay
royalties directly to Licensor, but such requirement shall not alter Licensee’s payment obligations hereunder. 
 2.1.4 Conversion
Option. 
 (a) Subject to the Preexisting Rights, at any time during the term of the Agreement, Licensee shall have the option from time
to time to designate an Option Subfield within the Nonexclusive Licensed Field for inclusion within the Exclusive Licensed Field (a “Conversion Option”). Upon such designation by Licensee in writing to Licensor, Licensee shall pay to
Licensor the Conversion Option Fee, as defined in Section 4.2.4, at which time such Option Subfield shall be considered subject to all terms of the Agreement that are applicable to the Exclusive Licensed Field and this Agreement shall be deemed
automatically amended mutatis mutandis with no further action of either Party. 
 (b) If Licensee has converted pursuant to
Section 2.1.4(a) its rights in the Nonexclusive Field relating to ID from nonexclusive to exclusive, then to the extent any additional rights licensed to the Preexisting Licensee in the field of ID are no longer subject to the Preexisting
License (including the related option described herein) (“Available Rights”), such Available Rights shall be automatically deemed a part of the Exclusive Field under this Agreement. If Licensee has not converted its rights in the
Nonexclusive Field relating to ID from nonexclusive to exclusive pursuant to the Conversion Option in Section 2.1.4(a), then such Available Rights shall be automatically deemed a part of the Nonexclusive Field. 

2.1.5 Exclusive Right of First Refusal. During the Term of this Agreement, Licensor shall not enter into any licenses with any Third
Party or its or Licensee’s Affiliates for use of Licensed Patent Rights, Licensed Technology or Improvements for use in any fields within the Nonexclusive Licensed Field without first carrying out the following procedure. When Licensor receives
from the Third Party or its or Licensee’s Affiliates a binding offer to obtain a license to Licensed Patent Rights, Licensed Technology or Improvements for use in any field(s) in the Nonexclusive Licensed Field that, if agreed to by the
Licensee, would prevent Licensee from exercising the Conversion Option for such field(s) in the Nonexclusive Field, Licensor shall provide Licensee with written notice thereof with full details and confirmation of the binding nature of the offer.
Licensee shall notify Licensor as soon as practicable thereafter, but not more than [ * ] days after receipt of such written notice, as to whether or not Licensee is exercising its Conversion Option with regard to such field(s). Should
Licensee opt not to exercise its Conversion Option within the [ * ] day period, or not respond within such period, then Licensor shall have [ * ] days to enter into the proposed license on the terms disclosed to Licensee. Should the
license not be executed within such period, or should the license terms change in any material way or the identity of the licensee change, then Licensor agrees to repeat the foregoing procedure. 

2.1.6 Notification Regarding Preexisting Rights. Licensor shall provide Licensee with prompt written notification with full details of
any material changes or developments related to the rights of the Preexisting Licensee including, without limitation, the 

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

  
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exercise by the Preexisting Licensee under the Preexisting Rights of any option to convert any rights therein from nonexclusive to exclusive, or the expiration, termination or lapse of any rights
of the Preexisting Licensee under the Preexisting Rights. Such written notice shall be delivered to Licensee no later than [ * ] days after such material change. 

3. DEVELOPMENT AND COMMERCIALIZATION OF LICENSED PRODUCTS. 

3.1 Development and Commercialization. 

3.1.1 Licensee shall use commercially reasonable efforts to develop and commercialize Licensed Product(s) in the U.S. and E.U., provided that
such efforts are consistent with sound and reasonable business and scientific and medical practice and judgment and are considered in light of all relevant factors. All activities relating to Development and commercialization under this Agreement
shall be undertaken at Licensee’s sole cost and expense, except as otherwise expressly provided in this Agreement. 
 3.1.2 From and
after the Effective Date, Licensee shall have full control and authority over the development and commercialization of Licensed Products, including without limitation, (a) all pre-clinical development activities, including any pharmaceutical
development work on formulations or process development relating to any Licensed Product, (b) all activities related to human clinical trials, including all clinical studies, (c) all activities relating to manufacture and supply of
all Licensed Products (including all required process development and scale up work with respect thereto), (d) all marketing, promotion, sales, distribution, import and export activities relating to any Licensed Product, and (e) all
activities relating to any regulatory filings, registrations, applications and Regulatory Approvals relating to any of the foregoing including any INDs or foreign equivalents, any manufacturing facility validation and/or licensure, any Drug Approval
Applications and any other Regulatory Approvals. Licensee shall own all data, results and all other information arising from any such activities under this Agreement, including without limitation, all regulatory filings, registrations,
applications and Regulatory Approvals relating to Licensed Products, including any INDs or foreign equivalents, any Drug Approval Applications and any other Regulatory Approvals, and all of the foregoing information, documentation and
materials shall be considered Confidential Information and Technology solely owned and Controlled by Licensee. 
 4. FEES, ROYALTIES AND
MILESTONES 
 4.1 License Fee. In consideration of the grant of the licenses described in Article 2 hereof and its
other rights hereunder, Licensee hereby agrees to pay Licensor a license fee in the sum of Seventy-five Thousand U.S. Dollars ($75,000) within [ * ] days following execution of this Agreement. 

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

  
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 4.2 Payment of Royalties; Royalty Rates; Minimum Royalties. 

4.2.1 Royalty Payments. In further consideration of the grant of the licenses described in Article 2 hereof and its other rights
hereunder, Licensee shall pay to Licensor on the terms set forth herein the following royalties: 
 in respect of each Licensed Products sold
for use in the Nonexclusive Licensed Field, a royalty equal to [ * ] of Net Sales of such Licensed Product and 
 in respect of each
Licensed Products sold for use in the Exclusive Licensed Field, a royalty equal to [ * ] of Net Sales of such Licensed Product. 
 Only one royalty
shall be payable to Licensor hereunder for each sale of a Licensed Product. 
 4.2.2 Minimum Royalties. 

Licensee agrees to pay to Licensor an annual minimum royalty of [ * ], creditable against any royalty due under the Agreement (even if
such credit is taken in a calendar year, other than the one in which the payment is made), beginning at the first anniversary of the Agreement and continuing annually thereafter. 

4.2.3 Third Party Royalty Offset. If Licensee, in its commercially reasonable discretion, obtains a license to any Third Party
intellectual property rights related to Licensed Product, payments due to such Third Party licensor for such rights will be creditable at times determined by Licensee against the royalty owed to Licensor, provided that (i) Licensee shall keep
Licensor reasonably informed of all related negotiations (after reaching a termsheet) with Third Parties and consult Licensor in connection therewith and (ii) royalties owed to Licensor hereunder shall not be reduced by more than [ * ]
in the aggregate. For clarity, any information provided by Licensee to Licensor pursuant to this provision is the Confidential Information of Licensee and Licensee shall not attempt to contact any such Third Party absent the express written consent
of Licensee. 
 4.2.4 Conversion Option Fee. For each Option Subfield for which Licensee exercises a Conversion Option, Licensee
shall pay to Licensor a nonrefundable, non-creditable Conversion Option Fee in the sum of [ * ] within [ * ] days following exercise of such Conversion Option. 

4.3 Milestone Payments. 

4.3.1 Payment. In further consideration of the grant of the licenses described in Article 2 hereof and its other rights hereunder,
on a Licensed Product-by-Licensed Product basis, Licensee shall make the following payments to Licensor within [ * ] days of the occurrence of the following events by Licensee or its Affiliates or Sublicensees, as such date is
reasonably determined by Licensee to have occurred: 
  

	 	(i)	[ * ] upon [ * ]; 

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

  
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	 	(ii)	[ * ] upon [ * ]; 

  

	 	(iii)	[ * ] upon [ * ]; and 

  

	 	(iv)	[ * ] upon [ * ]. 

 The foregoing milestones shall be payable one time per Licensed Product
(without regard to such Licensed Product’s indications for use or whether the Licensed Product is modified, re-formulated, re-launched, or modified). In addition, only one set of milestones shall be payable per Subfield. 

4.3.2 Determination That Payments Are Due. Licensee shall promptly (and in any event within [ * ] days) provide Licensor with
written notice upon its achievement of each of the milestones set forth in Section 4.3.1. 
 4.4 Sublicensing Consideration.
 
 4.4.1 
 (a) Subject to
the other terms hereof, Licensee shall pay to Licensor a share of the cash value of compensation as and when received by Licensor to the extent attributable to the grant of a sublicense of the rights granted by Licensor to Licensee under this
Agreement, including all sublicensing income, licensing fees, milestone payments, patent infringement damage awards, equity investments in Licensee or its Affiliate(s) to the extent such investments exceed [ * ] of Fair Market Value (as
defined below), and any other sublicensing revenue other than Excluded Payments (in the aggregate, “Attributed Income”). Such Attributed Income shall not include the following (“Excluded Payments”): payments received from
Sublicensee(s) for royalties on sales of Licensed Products; payments received for debt financing; payments for equity investments at or below [ * ] of Fair Market Value; payments or other consideration for research contracts or development,
sales and/or marketing activities; reimbursement for patent costs; and milestones payments payable to Licensee under the sublicense agreement. Licensee will provide relevant information in its possession regarding exclusions from sublicense
consideration to the extent such information is not the confidential information of a Third Party. All such information shall be treated as the Confidential Information of Licensee. 

(b) In the event that equity in lieu of cash or other consideration is received by Licensee in return for granting a sublicense, Licensee
shall either arrange for Licensor’s share of such equity to be issued directly to Licensor and in the name of “Karagen Pharmaceuticals”, if permitted and commercially reasonable, or Licensee shall pay in cash to Licensor the Fair
Market Value (as defined below) of Licensor’s share of such equity. The term “Fair Market Value” shall mean (i) if the stock is publicly traded, the average closing price at which the stock in question is publicly traded at for
[ * ] trading days prior to the execution of the sublicense agreement, or (ii) if the stock is not publicly traded, the value of such stock shall be (x) the price of the stock during the most recent round of financing, provided the
round shall have been completed not more than [ * ] months prior, or (y) if there has not been a round in the 

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

  
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[ * ] months prior to the execution of the sublicense agreement, then price determined by a single independent appraisal of an appraiser chosen by Licensee and approved by Licensor, such
approval not unreasonably withheld, conditioned or delayed. 
 4.4.2 Licensor’s share of Attributed Income shall be determined as
follows, based on the stage of development of the most advanced Licensed Product candidate that is the subject of the sublicense: 
  

	 	(i)	[ * ] if [ * ]; 

  

	 	(ii)	[ * ] if [ * ]; 

  

	 	(iii)	[ * ] if [ * ]; and 

  

	 	(iv)	[ * ]. 

 4.4.3 In the event that Aduro exercises its Conversion Option, Licensor’s
share of Attributed Income for the grant of a sublicense of such rights shall be determined as follows, based on the stage of development of the most advanced relevant Licensed Product candidate that is the subject of the sublicense: 

 

	 	(i)	[ * ] if [ * ]; 

  

	 	(ii)	[ * ] if [ * ]; 

  

	 	(iii)	[ * ] if [ * ]; and 

  

	 	(iv)	[ * ]. 

 4.5 Payment Terms. 

4.5.1 Payment of Royalties. Licensee shall make any royalty payments owed to Licensor hereunder in arrears, within [ * ] days
after the end of each quarter in which such payment accrues. For purposes of determining when a sale of any Licensed Product occurs under this Agreement, the sale shall be deemed to occur when the payment is received on invoice. Each royalty payment
shall be accompanied by a report for each country in the Territory in which sales of Licensed Products occurred in the calendar quarter covered by such statement, specifying: the gross sales (if available) and Net Sales in each country’s
currency; the applicable royalty rate under this Agreement; the royalties payable in each country’s currency; the applicable exchange rate to convert from each country’s currency to United States Dollars under this Section 4.4; and
the royalties payable in United States Dollars. 
 4.5.2 Accounting. All payments hereunder shall be made in the United States in
United States dollars. Conversion of foreign currency to United States dollars shall be based on the average of the conversion rate for the [ * ] business days prior to the date such payment is due and payable hereunder (as such conversion
rates are reported in The Wall Street Journal). If The Wall Street Journal ceases to be published, then the rate of exchange to be used shall be that reported in such other business publication of national circulation in the United
States as the Parties reasonably agree. 

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

  
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 4.5.3 Tax Withholding; Restrictions on Payment. (a) Licensee shall make any
applicable withholding payments due on behalf of Licensor and shall provide Licensor upon request with such written documentation regarding any such payment as available to Licensee relating to an application by Licensor for a foreign tax credit for
such payment with the United States Internal Revenue Service. Licensor shall fully cooperate with Licensee in Licensee determining whether withholding is required, provided the final decision whether or not to withhold will be Licensee’s alone.
(b) If by law, regulations or fiscal policy of a particular country in the Territory, remittance of royalties in United States Dollars is restricted or forbidden, written notice thereof shall promptly be given to Licensor, and payment of the
royalty shall be made by the deposit thereof in local currency to the credit of Licensor in a recognized banking institution reasonably designated by Licensor by written notice to Licensee. When in any country in the Territory the law or regulations
prohibit both the transmittal and the deposit of royalties on sales in such country, royalty payments shall be suspended for as long as such prohibition is in effect and as soon as such prohibition ceases to be in effect, all royalties that Licensee
would have been under an obligation to transmit or deposit but for the prohibition shall forthwith be deposited or transmitted, to the extent allowable. 

4.5.4 Payment of Fees and Milestones. Fees and Milestones shall be paid as set forth herein. 

4.6 Records Retention; Review. 

4.6.1 Royalties. Commencing as of the date of First Commercial Sale of the first Licensed Product hereunder, Licensee and its
Affiliates and Sublicensees shall keep for at least one year from the end of the calendar year to which they pertain complete and accurate records of sales by Licensee or its Affiliates and Sublicensees, as the case may be, of each Licensed Product,
in sufficient detail to allow the accuracy of the payments hereunder to be confirmed. 
 4.6.2 Review. Subject to the other terms of
this Section 4.6.2, at the request of Licensor, which shall not be made more frequently than once per calendar year during the Term, upon at least [ * ] days’ prior written notice from Licensor, and at the expense of Licensor,
Licensee shall permit an independent certified public accountant reasonably acceptable to Licensee to inspect during regular business hours the relevant records required to be maintained by Licensee under this Section 4.6. In every case the
accountant must have previously entered into a confidentiality agreement with Licensee that permits the accountant to share with the Parties any variances in payments the accountant believes apply to the audited period and the basis therefore, but
in no event shall Licensor be permitted free access to the books and records of Licensee as to sales so long as any other licensees to the Licensed Patents, Licensed Technology or Improvements have any valid rights to the same. Any deficiencies or
overpayments shall be promptly paid or repaid, as the case may be, by the owing Party. 

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

  
 -12- 

 5. TREATMENT OF CONFIDENTIAL INFORMATION 

5.1 Confidential Obligations. Licensor and Licensee each recognize that the other Party’s Confidential Information
constitutes highly valuable and proprietary confidential information. Licensor and Licensee each agree that during the Term and for [ * ] years thereafter, it will keep confidential, and will cause its employees, consultants, Affiliates
and Sublicensees to keep confidential, all Confidential Information of the other Party. Neither Licensor nor Licensee nor any of their respective employees, consultants, Affiliates or Sublicensees shall use Confidential Information of the other
Party for any purpose whatsoever other than exercising any rights granted to it or reserved by it hereunder. Without limiting the foregoing, each Party may disclose information to the extent such disclosure is reasonably necessary to (a) with
respect to Licensee, file and prosecute patent applications and/or maintain patents that are filed or prosecuted in accordance with the provisions of this Agreement, or (b) comply with applicable laws, regulations or court orders;
provided, however, that if a Party is required to make any such disclosure of the other Party’s Confidential Information in connection with any of the foregoing, it will give reasonable advance notice to the other Party of such
disclosure requirement and will use reasonable efforts to assist such other Party in efforts to secure confidential treatment of such information required to be disclosed. 

5.2 Limited Disclosure and Use. Licensor and Licensee each agree that any disclosure of the other Party’s Confidential
Information to any officer, employee, consultant or agent of the other Party or any of its Affiliates or Sublicensees shall be made only if and to the extent necessary to carry out its rights and responsibilities under this Agreement, shall be
limited to the maximum extent possible consistent with such rights and responsibilities and shall only be made to the extent any such persons are bound by written confidentiality obligations to maintain the confidentiality thereof and not to use
such Confidential Information except as expressly permitted by this Agreement. Licensor and Licensee each further agree not to disclose or transfer the other Party’s Confidential Information to any Third Parties under any circumstance without
the prior written approval from the other Party (such approval not to be unreasonably withheld), except as otherwise required by law, and except as otherwise expressly permitted by this Agreement. Each Party shall take such action, and shall cause
its Affiliates or Sublicensees to take such action, to preserve the confidentiality of each other’s Confidential Information as it would customarily take to preserve the confidentiality of its own Confidential Information, using, in all such
circumstances, not less than reasonable care. Each Party, upon the request of the other Party, will return all the Confidential Information disclosed or transferred to it by the other Party pursuant to this Agreement, including all copies and
extracts of documents and all manifestations in whatever form, within [ * ] days of such request or, if earlier, the termination or expiration of this Agreement; provided however, that a Party may retain (a) any
Confidential Information of the other Party relating to any license that expressly survives such termination and (b) one (1) copy of all other Confidential Information in inactive archives solely for the purpose of establishing the
contents thereof. Licensor agrees that, under written terms of Confidentiality, Licensee may share this Agreement with potential Sublicensees, partners, acquirers, and funding sources, provided financial terms shall be redacted unless such party
would be ultimately responsible for their payment. 

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

  
 -13- 

 5.3 Publicity. Licensee may publicly disclose the existence or terms or any other
matter of fact regarding this Agreement without the prior written consent of the Licensor. Either Party may make such a disclosure (a) to the extent required by law or by the requirements of any nationally recognized securities exchange,
quotation system or over-the-counter market on which such Party has its securities listed or traded, or (b) to any investors, prospective investors, lenders and other potential financing sources who are obligated to keep such information
confidential. In the event that such disclosure is required as aforesaid, the disclosing Party shall make reasonable efforts to provide the other Party with notice beforehand and to coordinate with the other Party with respect to the wording and
timing of any such disclosure. The Parties, upon the execution of this Agreement, will mutually agree to a press release with respect to this transaction for publication. Once such press release or any other written statement is approved for
disclosure by both Parties, either Party may make subsequent public disclosure of the contents of such statement without the further approval of the other Party. 

5.4 Use of Name. Neither Party shall employ or use the name of the other Party in any promotional materials or advertising
without the prior express written permission of the other party. 
 6. PROVISIONS CONCERNING THE FILING, PROSECUTION AND MAINTENANCE OF
PATENT RIGHTS 
 6.1 Patent Filing, Prosecution and Maintenance.  

(a) Subject to the other terms of this Agreement, Licensor shall be responsible for preparing, filing, prosecuting, obtaining and maintaining,
at its sole cost, expense and discretion, and using patent counsel reasonably acceptable to Licensee, all Licensed Patent Rights in the Territory. Licensor (i) will provide Licensee with a copy of any and all proposed patent applications
within Licensed Patent Rights and relevant to the Exclusive Licensed Field and Nonexclusive Licensed Field for review and comment reasonably in advance of filing which shall under no circumstances be less than [ * ] days, and (ii) will
keep Licensee fully and timely informed of the status of such filing, prosecution and maintenance, including, without limitation, (A) by providing Licensee with copies of all communications and key strategy received from or filed in patent
office(s) with respect to such filing, and (B) by providing Licensee, a reasonable time prior to taking or failing to take any action that might affect the scope or validity of any such of any such filing (including the substantially narrowing,
cancellation or abandonment of any claim(s) without retaining the right to pursue such subject matter in a separate application, or the failure to file or perfect the filing of any claim(s) in any country), with prior written notice of such proposed
action or inaction so that Licensee has a reasonable opportunity to review and comment. 
 (b) If Licensor fails to undertake the filing(s)
of any patent application or submission with respect to any invention under such Licensed Patent Rights, then not less than [ * ] days prior to the last date for making the applicable filing or submission to preserve rights under such patent
application (the “Last Date”), Licensee may undertake such filing(s) at its own expense, the cost of which may be offset against amounts owed to Licensor (“Licensee Intervention”). In such case, Licensor will assign to Licensee
all of its rights to such patent application and invention and any subsequently issued patent thereon in the country or countries in which Licensee undertakes such filing(s), each of which thereafter will be owned solely by

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

-14- 

 
Licensee, unless Licensor repays to Licensee within [ * ] days after the Last Date all of Licensee’s costs and expenses (including reasonable attorney fees, agent fees and filing
fees) in preparing and making such filings (the “Licensor Option to Cure”). The Licensor Option to Cure may be exercised by Licensor only after the first two occurrences of a Licensee Intervention, after which Licensor shall no longer be
permitted the Licensor Option to Cure. 
 (c) Should this Agreement be validly terminated for Licensee’s uncured material breach, then
Licensed Patent Rights assigned to Licensee pursuant to this Section shall be re-conveyed to Licensor by Licensee. 
 6.2 Notice of
Infringement. If, during the License Term, either Party learns of any actual, alleged or threatened infringement by a Third Party of any Licensed Patent Rights under this Agreement, such Party shall promptly notify the other Party and shall
provide such other Party with available evidence of such infringement. 
 6.3 Infringement of Patent Rights. 

(a) Licensor shall have the first right to enforce any Patent Rights among the Licensed Patent Rights and/or Improvements relating to Licensed
Products in the Nonexclusive License Field against any infringement or alleged infringement at Licensee’s expense, such expense to be pro-rated according to the number of licensees, provided that if Licensor does not take an appropriate action
within [ * ] days after notice, or if it fails to diligently prosecute such action(s), then Licensee may take or assume such actions in its own name (with the cooperation of Licensor) and Licensee will thereafter have the right to enforce
such License Patent Rights and/or Improvements. Licensor shall cooperate fully therewith, including agreeing to be joined as a party to such action if necessary or helpful. 

(b) Licensee shall have the first right to enforce any Patent Rights among the Licensed Patent Rights and/or Improvements relating to
Licensed Products indicated for use in the Exclusive Licensed Field against any infringement or alleged infringement. Licensor shall fully cooperate in any such litigation at Licensee’s expense, including by agreeing to be joined as a party to
such litigation if necessary or helpful. 
 (c) Any damages, monetary awards or other amounts recovered, whether by judgment or settlement,
pursuant to any suit, proceeding or other legal action taken under this Section 6.3, shall applied as follows: 
  

	 	(i)	first, [ * ]; 

  

	 	(ii)	second, [ * ]; and 

  

	 	(iii)	third, any amounts remaining go to [ * ]. 

 If a Party brings any such action or
proceeding hereunder, the other Party agrees to be joined as party plaintiff if necessary to prosecute such action or proceeding, and to give the Party bringing such action or proceeding reasonable assistance and authority to file and

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

  
 -15- 

 
prosecute the suit; provided, however, that neither Party shall be required to transfer any right, title or interest in or to any property to the other Party or any Third Party to confer standing
on a Party hereunder. 
 7. REPRESENTATIONS, WARRANTIES, AND CERTAIN COVENANTS 

7.1 Licensor Representations. Licensor represents, warrants and covenants to Licensee as follows. 

(a) The execution and delivery of this Agreement and the performance of the transactions contemplated hereby have been duly authorized by all
appropriate Licensor corporate action. 
 (b) This Agreement is a legal and valid obligation binding upon Licensor and enforceable in
accordance with its terms, and the execution, delivery and performance of this Agreement by the Parties does not conflict with any agreement, instrument or understanding to which Licensor is a party or by which it is bound. 

(c) Licensor has the full right and legal capacity to grant the rights granted to Licensee hereunder without violating the rights of any
Third Party. 
 (d) The Licensed Patent Rights have been properly filed, prosecuted, and maintained, and Licensor is the sole owner of the
Licensed Patent Rights and Licensed Technology. 
 (e) Licensor is not aware of any Third Party patent, patent application or other
intellectual property rights that would be infringed (i) by practicing any process or method or by making, using or selling any composition that is claimed or disclosed in, or that constitutes, Licensed Technology, or (ii) by making,
using, offering for sale, selling or importing Licensed Products. 
 (f) Licensor is not aware of any infringement or misappropriation by a
Third Party of the Licensed Technology. 
 (g) Licensor represents and warrants that, other than the Preexisting Rights, no other licenses
have been granted to the Licensed Patent Rights, Licensed Technology or Improvements. In connection therewith and described herein and in Exhibit A, the Preexisting Licensee has a nonexclusive license to the Licensed Patent Rights only to use
c-di-GMP only in the field of ID and a limited option to convert its rights for c-di-GMP on an ID on a field-by-field basis. Licensor covenants that it will not extend the term of the Preexisting License or expand or extend the
option rights under the Preexisting Licensee. The Preexisting License was an arm’s length transaction and Licensor, its directors, officers, and employees and their family members have no interest in the Preexisting Licensee or its Affiliates.

 (h) Except as set forth in this Section 7.1 and in Exhibit A hereto, the Preexisting Licensee has no other rights and
the Preexisting License does not contain any other provisions that might adversely affect Licensee’s rights or increase Licensee’s obligations under this Agreement. 

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

  
 -16- 

 (i) Exhibit A is true, correct and complete in all respects. 

(j) All agreements effective on or after the Effective Date related to the License Patent Rights or Licensed Technology Rights, including
without limitation any agreement with the Preexisting Licensee or its Affiliates or development partners, shall (i) only contain provisions that are subject to those set forth in this Agreement, (ii) will not include rights outside the
field of ID and (iii) will permit Licensee to review copies of the agreements redacted to remove key information identifying the party and financial terms (to the extent not already publicly available). 

(k) Licensor shall keep Licensee fully informed of any infringement of the License Patent Rights or appropriation of the License Technology
by the Preexisting Licensee in the Exclusive Field, Nonexclusive Field and outside of ID. Licensor agrees to fully cooperate in the enforcement of all of the terms of this Agreement and the terms of the Preexisting License and any successor
agreement, and permit Aduro to lead such enforcement and offset against payments owed to Licensor hereunder the reasonable costs thereof. 

7.2 Licensee Representations. Licensee represents and warrants to Licensor as follows. 

(a) The execution and delivery of this Agreement and the performance of the transactions contemplated hereby have been duly authorized by all
appropriate Licensee corporate action. 
 (b) This Agreement is a legal and valid obligation binding upon Licensee and enforceable in
accordance with its terms, and the execution, delivery and performance of this Agreement by the Parties does not conflict with any agreement, instrument or understanding to which Licensee is a party of or by which it is bound. 

(c) Licensee acknowledges that Licensor has represented to Licensee that Licensor has entered into a Preexisting License and, while
Licensee’s exclusive rights hereunder are unaffected thereby, certain of Licensee’s nonexclusive rights and related options are subject to those Preexisting Rights to the extent demonstrated herein. For clarity, Licensee has not been
permitted to see or review any version of the Preexisting License and Licensee is relying entirely on Licensor’s account of its provisions. 

7.3 No Warranties. 

Except as expressly set forth in this Agreement, NEITHER PARTY MAKES ANY REPRESENTATION OR EXTENDS ANY WARRANTIES OF ANY KIND, EITHER EXPRESS
OR IMPLIED. THERE ARE NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR OF NON-INFRINGEMENT OF ANY PATENT, COPYRIGHT, TRADEMARK, OR OTHER RIGHTS OF THIRD PARTIES, OR ANY OTHER EXPRESS OR IMPLIED WARRANTIES.

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

  
 -17- 

 8.INDEMNIFICATION 

8.1 Indemnification. 

8.1.1 Licensee Indemnity. Licensee shall indemnify, defend and hold harmless Licensor, its Affiliates and their respective directors,
officers, employees, stockholders and agents and their respective successors, heirs and assigns (the “Licensor Indemnitees”) from and against any liability, damage, loss or expense (including reasonable attorneys’ fees and expenses of
litigation) incurred by or imposed upon such Licensor Indemnitees, or any of them, in connection with any Third Party claims, suits, actions, demands or judgments, including, without limitation, personal injury and product liability matters, to the
extent arising out of (a) Licensee’s making, using, selling or importation of a Licensed Product (or any component thereof), (b) any material breach of this Agreement by Licensee, or (c) the negligence or willful misconduct on
the part of Licensee or any Affiliate or Sublicensee. 
 8.1.2 Licensor Indemnity. Subject to Section 8.1.1 above, Licensor
shall indemnify, defend and hold harmless Licensee, its Affiliates and Sublicensees and their respective directors, officers, employees, stockholders, and agents, and their respective successors, heirs and assigns (the “Licensee
Indemnitees”), from and against any liability, damage, loss or expense (including reasonable attorneys’ fees and expenses of litigation) incurred by or imposed upon such Licensee Indemnitees, or any of them, in connection with any Third
Party claims, suits, actions, demands or judgments, including, without limitation, personal injury and product liability matters (but excluding any patent infringement matters, which are governed by Article 6 above), to the extent arising out
of (a) any actions or omissions of Licensor under this Agreement, (b) any material breach of this Agreement by Licensor, (c) the negligence or willful misconduct on the part of Licensor, or (d) any acts or omissions of the
Preexisting Licensee or any other licensee of Licensor. 
 8.2 Indemnification Procedures. In the event that any indemnitee is
seeking indemnification under Section 8.1 above from a Party (the “Indemnifying Party”), the other Party shall notify the Indemnifying Party of such claim with respect to such Indemnified Party as soon as reasonably practicable after
the Indemnified Party receives notice of the claim, and the Party (on behalf of itself and such Indemnified Party) shall permit the Indemnifying Party to assume direction and control of the defense of the claim (including the right to settle the
claim solely for monetary consideration) and shall cooperate as requested (at the expense of the Indemnifying Party) in the defense of the claim. The indemnification obligations under Article 8 shall not apply to any harm suffered as a direct
result of any delay in notice to the Indemnifying Party hereunder or to amounts paid in settlement of any claim, demand, action or other proceeding if such settlement is effected without the consent of the Indemnifying Party, which consent shall not
be withheld or delayed unreasonably. The Indemnified Party, its employees and agents, shall reasonably cooperate with the Indemnifying Party and its legal representatives in the investigation of any claim, demand, action or other proceeding covered
by Section 8.1. 

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

  
 -18- 

 8.3 Certain Limitations of Liability. 

8.3.1 IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR INDIRECT DAMAGES OR CONSEQUENTIAL DAMAGES, INCLUDING WITHOUT LIMITATION,
LOST PROFITS, OPPORTUNITIES OR REVENUES, PROVIDED NO LIMITATION HEREIN SHALL LIMIT ANY AMOUNT PAYABLE BY A PARTY UNDER SECTION 8.1.1 OR 8.1.2 HEREOF, OR LOSSES ARISING FROM GROSS NEGLIGENCE, WILLFUL MISCONDUCT, FRAUD, OR A BREACH OF ARTICLE 5 OF
THIS AGREEMENT. 
 8.3.2 NOTWITHSTANDING ANYTHING TO THE CONTRARY, THE PARTIES ACKNOWLEDGE THAT ANY LOST PROFITS OF LICENSEE OR ITS
AFFILIATES OR SUBLICENSEES ARISING FROM A BREACH BY LICENSOR OF SECTION 7.1 OR EXHIBIT A SHALL BE DEEMED DIRECT DAMAGES FOR THE PURPOSE OF CALCULATING LICENSEE LOSSES. 

9.TERM AND TERMINATION 

9.1 Term; Expiration. The term of this Agreement (“Term”) shall expire upon the expiration of the last Valid
Claim in Patent Rights, unless earlier terminated as permitted herein. Upon the termination or expiration of the License Term in each country, all licenses hereunder shall be fully paid and perpetual in each country.  

9.2 Termination Rights for Breach. 

9.2.1 Termination for Breach. Subject to the other terms of this Agreement, this Agreement and the rights and options granted herein
may be terminated by either Party upon any material breach by the other Party of any material obligation or condition, effective ninety (90) days after giving written notice to the breaching Party of such termination, which notice shall
describe such breach in reasonable detail. The foregoing notwithstanding, if such default or breach is cured or remedied within the aforesaid ninety (90) day period, the notice shall be automatically withdrawn and of no effect. However, prior
to giving any notice of termination for breach, the Parties shall first attempt to resolve any disputes as to the existence of any breach as set forth in Article 10. 

9.2.2 Voluntary Termination. Licensee shall have the right to terminate this Agreement at any time upon ninety (90) days’
written notice to Licensor. 
 9.3 Termination for Bankruptcy. In the event that either Party files for protection
under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it
that is not discharged within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party. 

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

  
 -19- 

 9.4 Effects of Termination. 

9.4.1 Termination for Licensee Breach. Upon any termination of this Agreement by Licensor under Section 9.2.1 as of the effective
date of such termination all relevant licenses and sublicenses granted by Licensor to Licensee hereunder shall terminate automatically. Notwithstanding the foregoing, (a) no such termination of this Agreement shall be construed as a termination
of any valid sublicense of any Sublicensee hereunder, and thereafter each such Sublicensee shall be considered a direct licensee of Licensor, provided that (i) such Sublicensee is then in full compliance with all terms and conditions of its
sublicense, (ii) all accrued payments obligations to Licensor have been paid, and (iii) such Sublicensee agrees in writing to assume all applicable obligations of Licensee under this Agreement, and (b) Licensee and its Affiliates and
Sublicensees shall have the right, for twelve (12) months or such longer time period (if any) on which the Parties mutually agree in writing, to sell or otherwise dispose of all Licensed Products then on hand, with royalties to be paid to
Licensor on all Net Sales of such Licensed Products as provided for in this Agreement. 
 9.4.2 Other Terminations. 

(a) Upon any termination of this Agreement by Licensee under Section 9.2.1 for Licensor’s material breach, or under Section 9.3
where Licensor has filed for protection under bankruptcy laws or has an involuntary bankruptcy petition filed against it that is not discharged within sixty (60) days of the filing, as of the effective date of such termination, Licensee
thereafter automatically shall have a fully sublicensable and transferable, fully paid up (subject to the remainder of this Section 9.4), nonexclusive or exclusive (as the case may be) license in the Territory under the Licensed Patent Rights
and Licensed Technology, to develop, have developed, make, have made, use, have used, sell, have sold, offer for sale, import and have imported any and all Licensed Products and to practice the Licensed Technology in the Territory, provided
that Licensee shall pay, for the remainder of any royalty term under Section 4.4 above, in lieu of any payments including milestones or royalties it would otherwise owe to Licensor under this Agreement, a royalty equal to sixty-six percent
(66%) of the royalty rate that would otherwise apply with respect to the Licensed Product under Sections 4.2.1, 4.2.2, 4.2.3 and 4.2.4 of this Agreement. 

(b) In the event of a transfer under Section 9.2.2, the Parties shall return to one another their respective Confidential Information,
provided Licensee may retain one copy of the same for legal archives and one copy for any countries in which it has a fully paid license. 

9.5 Remedies. Except as otherwise expressly set forth in this Agreement, the termination provisions of this Article 9 are
in addition to any other relief and remedies available to either Party at law. 
 9.6 Surviving Provisions. Notwithstanding
any provision herein to the contrary, the rights and obligations of the Parties set forth in Sections 1 (as relevant), 5, 7, 8,9.1, 9.4.2 and 11, as well as any rights or obligations otherwise accrued hereunder (including any accrued payment
obligations), shall survive the expiration or termination of the Term. Without limiting the generality of the foregoing, Licensee shall have no obligation to make any milestone or royalty payment to Licensor that has not accrued prior to the
effective date of any termination of this Agreement, but shall remain liable for all such payment obligations accruing prior to the effective date of such termination. 

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

  
 -20- 

 10. DISPUTES 

The Parties recognize that a bona fide dispute relating to either Party’s rights or obligations hereunder, may from time to time arise
during the Term. In the event of the occurrence of such a dispute, either Party may, by written notice to the other Party, have such dispute referred to their respective senior officials designated below or their successors, for attempted resolution
by good faith negotiations within [ * ] days after such notice is received. Said designated senior officials are as follows: 
 For
Licensee: Chief Executive Officer 
 For Licensor: President 

In the event the designated senior officials are not able to resolve such dispute within the [ * ] day period, either Party may seek
any remedies available to it; provided that the foregoing shall not be construed to prohibit a Party from immediately seeking protection or relief it deems reasonable in light of the circumstances. 

11. MISCELLANEOUS 
 11.1
Notices. All notices, requests and other communications hereunder shall be in writing, addressed to the receiving party’s address set forth below or to such other address as a party may designate by notice hereunder, and be either
(i) delivered by hand, (ii) made by facsimile transmission (to be followed with written fax confirmation), (iii) sent by private courier service providing evidence of receipt, or (iv) sent by registered or certified mail, return
receipt requested, postage prepaid. The addresses and other contact information for the parties are as follows: 
  

			
	If to Licensor:		 Lize Davis-Karaolis
 President

Karagen Pharmaceuticals, Inc.
 4 Club Road

Baltimore, MD 21210

		
	With a copy to:		 Royal W. Craig
 Ober, Kaler, Grimes &
Shriver
 100 Light Street
 Baltimore, MD 21202

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

  
 -21- 

			
	If to Licensee:		 Stephen T. Isaacs
 Chairman and CEO

Aduro BioTech, Inc.
 626 Bancroft Way, Suite 3C

Berkeley, CA 94563
 FAX: [ * ]

[ * ]

		
	With a copy to:		 Steven Bodovitz
 Associate Director,
Strategic Development
 Aduro BioTech, Inc.
 626 Bancroft Way,
Suite 3C
 Berkeley, CA 94563
 FAX: [ * ]

[ * ]

 All notices, requests and other communications hereunder shall be deemed to have been given either (i) if
by hand, at the time of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if made by telecopy or facsimile transmission, at the time that receipt thereof has been acknowledged by the recipient,
(iii) if sent by private courier, on the day such notice is delivered to the recipient, or (iv) if sent by registered or certified mail, on the fifth (5th) business day following
the day such mailing is made. 
 11.2 Language. This Agreement has been prepared in the English language and the English
language shall control its interpretation. 
 11.3 Governing Law. This Agreement will be construed, interpreted and applied in
accordance with the laws of the California (excluding its body of law controlling conflicts of law). 
 11.4 Limitations.
Except as expressly set forth in this Agreement, neither Party grants to the other Party any right or license to any of its intellectual property. 

11.5 Entire Agreement. This is the entire Agreement between the Parties with respect to the subject matter hereof and supersedes
all prior representations, understandings and agreements between the Parties with respect to the subject matter hereof. No modification shall be effective unless in writing with specific reference to this Agreement and signed by the Parties. 

11.6 Waiver. The terms or conditions of this Agreement may be waived only by a written instrument executed by the Party waiving
compliance. The failure of either Party at any time or times to require performance of any provision hereof shall in no manner affect its rights at a later time to enforce the same. No waiver by either Party of any condition or term shall be deemed
as a continuing waiver of such condition or term or of another condition or term. 

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

  
 -22- 

 11.7 Headings. Section and subsection headings are inserted for convenience of
reference only and do not form part of this Agreement. 
 11.8 Assignment. Neither this Agreement nor any right or obligation
hereunder may be assigned, delegated or otherwise transferred, in whole or part, by either Party without the prior express written consent of the other; provided, however, that either Party may, without the written consent of the other, assign this
Agreement and its rights and delegate its obligations hereunder to its Affiliates, or in connection with the transfer or sale of all or substantially all of such Party’s assets or business related to this Agreement, or in the event of its
merger, consolidation, change in control or similar transaction. Any permitted assignee shall assume all obligations of its assignor under this Agreement. Any purported assignment in violation of this Section 11.8 shall be void. The terms and
conditions of this Agreement shall be binding upon and inure to the benefit of the permitted successors and assigns of the parties. 
 11.9
Force Majeure. Neither Party shall be liable for failure of or delay in performing obligations set forth in this Agreement, and neither Party shall be deemed in breach of its obligations, if such failure or delay is due to natural
disasters or any causes beyond the reasonable control of such Party. In event of such force majeure, the Party affected thereby shall use reasonable efforts to cure or overcome the same and resume performance of its obligations hereunder. 

11.10 Construction. The Parties hereto acknowledge and agree that: (i) each Party and its counsel reviewed and negotiated
the terms and provisions of this Agreement and have contributed to its revision; (ii) the rule of construction to the effect that any ambiguities are resolved against the drafting Party shall not be employed in the interpretation of this
Agreement; and (iii) the terms and provisions of this Agreement shall be construed fairly as to all Parties hereto and not in favor of or against any Party, regardless of which Party was generally responsible for the preparation of this
Agreement. 
 11.11 Severability. If any provision(s) of this Agreement are or become invalid, are ruled illegal by any court
of competent jurisdiction or are deemed unenforceable under then current applicable law from time to time in effect during the Term hereof, it is the intention of the Parties that the remainder of this Agreement shall not be affected thereby
provided that a Party’s rights under this Agreement are not materially affected. The Parties hereto covenant and agree to renegotiate any such term, covenant or application thereof in good faith in order to provide a reasonably acceptable
alternative to the term, covenant or condition of this Agreement or the application thereof that is invalid, illegal or unenforceable, it being the intent of the Parties that the basic purposes of this Agreement are to be effectuated. 

11.12 Status. Nothing in this Agreement is intended or shall be deemed to constitute a partner, agency, employer-employee, or
joint venture relationship between the Parties. 
 11.13 Section 365(n). All licenses granted under this Agreement are
deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of right to “intellectual property” as defined in Section 101 of such Code. The Parties agree that Licensee may fully

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

  
 -23- 

 
exercise all of its rights and elections under the U.S. Bankruptcy Code, regardless of whether either Party files for bankruptcy in the United States or other jurisdiction. The Parties further
agree that, in the event Licensee elects to retain its rights as a licensee under such Code, Licensee shall be entitled to complete access to any technology licensed to it hereunder and all embodiments of such technology. Such embodiments of the
technology shall be delivered to the Licensee not later than: 
 (a) the commencement of bankruptcy proceedings against the Licensor, upon
written request, unless the Licensor elects to perform its obligations under the Agreement, or 
 (b) if not delivered under
Section 11.14 above, upon the rejection of this Agreement by or on behalf of Licensee, upon written request. 
 11.14 Export
Compliance. Licensee and its Affiliates and Sublicensees shall comply with all United States laws and regulations controlling the export of certain commodities and technical data, including without limitation all Export Administration
Regulations of the United States Department of Commerce. Among other things, these laws and regulations prohibit or require a license for the export of certain types of commodities and technical data to specified countries. Licensee hereby gives
written assurance that it will comply with, and will cause its Affiliates and Sublicensees to comply with, all United States export control laws and regulations, that it bears sole responsibility for any violation of such laws and regulations by
itself or its Affiliates or Sublicensees, and that it will indemnify, defend, and hold Licensor harmless (in accordance with Article 8) for the consequences of any such violation. 

11.15 Further Assurances. Each Party agrees to execute, acknowledge and deliver such further instructions, and to do all such
other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 
 11.16
Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

[Remainder of page intentionally left blank] 

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

  
 -24- 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly
authorized representative as of the Effective Date. 
  

									
	KARAGEN PHARMACEUTICALS, INC.						ADURO BIOTECH, INC.
					
	By:		 /s/ Lize Davis-Karaolis
				By:		 /s/ Stephen T. Issacs

					
	Title:		 President
				Title:		 Chairman & CEO

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

-25- 

 Exhibit A 

Preexisting Rights Description 
 [ * ]

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

  
 -26- 

 Exhibit B 

Licensed Patent Rights 
 [ * ] 

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

  
 -27-EX-10.27

 [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and
filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. 
 Exhibit
10.27 
  

			
	 UNIVERSITY OF CALIFORNIA, BERKELEY

OFFICE OF TECHNOLOGY LICENSING
		

 

  
  

 
 EXCLUSIVE LICENSE 

BETWEEN 
 ADURO BIOTECH
INC 
 AND 
 THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA 
 FOR 

CYCLIC-DI-NUCLEOTIDES THAT STIMULATE HUMAN STING VARIANTS 

AND 
 STIMULATOR OF
INTERFERON GENE 
 UC Case No.: [ * ] 

U.S. Patent application Serial Nos. [ * ] 
  

 
  

			
	 UNIVERSITY OF CALIFORNIA, BERKELEY

OFFICE OF TECHNOLOGY LICENSING
		 

  
  

 
 EXCLUSIVE LICENSE 

FOR 

CYCLIC-DI-NUCLEOTIDES THAT STIMULATE HUMAN STING VARIANTS 

AND 
 STIMULATOR OF
INTERFERON GENE 
 UC Case Nos.: [ * ] 

U.S. patent applications [ * ] 
  

 
  

This Exclusive License Agreement (“Agreement”) is effective September 25, 2014 (“Effective Date”) by and between THE
REGENTS OF THE UNIVERSITY OF CALIFORNIA, a California corporation, whose legal address is 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200, acting through its Office of Technology Licensing, at the University of California,
Berkeley, 2150 Shattuck Avenue, Suite 510, Berkeley, CA 94704-1347 (“REGENTS”) and ADURO BIOTECH, INC, a Delaware corporation having a principal place of business at 626 Bancroft Way, Berkeley, CA 94710-2224 (“LICENSEE”).
The parties agree as follows. 
  

	1.	BACKGROUND 

  

	 	1.1	REGENTS has an assignment of the invention entitled, “[ * ],” invented by [ * ], employed by the University of California, as described in REGENTS’ Case No. [ * ], and the invention
entitled “[ * ],” invented by [ * ], employees of Aduro Biotech, as described in REGENTS’ Case No. [ * ] (the “INVENTION”) and to the patents and patent applications under REGENTS’ PATENT RIGHTS and
JOINT PATENT RIGHTS as defined below, which are directed to the INVENTION. 

  

	 	1.2	LICENSEE entered into a Secrecy Agreement with REGENTS effective April 16, 2013 and a Letter Agreement with REGENTS effective May 2, 2013 for the purpose of evaluating the INVENTION and granting LICENSEE an
exclusive right to negotiate an option or exclusive license in REGENT PATENT RIGHTS to the INVENTION. 

  

	 	1.3	LICENSEE has provided REGENTS with a commercialization plan for the INVENTION and business strategy in order to evaluate its capabilities as a LICENSEE. 

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

Page 1 of 27 

	 	1.4	The development of the INVENTION was sponsored in part by various grants by U.S. Government agencies, and as a consequence, REGENTS elected to retain title to the INVENTION subject to the rights of the U.S. Government
under 35 USC 200-212 and implementing regulations, including that REGENTS, in turn, has granted back to the U.S. Government a non-exclusive, non-transferable, irrevocable, paid-up license to practice or have practiced the INVENTION for or on behalf
of the U.S. Government throughout the world. These U.S. Government grants are National Institutes of Health Contract Nos. AI063302, AI075039, AI080749, AI082357 and OD008677. 

 

	 	1.5	REGENTS and LICENSEE wish to have the INVENTION developed and commercialized so that products resulting therefrom may be available for public use and benefit on a timeline that is reasonable in light of the financing
and development requirements of such products. 

  

	 	1.6	LICENSEE wishes to acquire, and REGENTS wishes to grant to LICENSEE, an exclusive license under the REGENTS’ PATENT RIGHTS and REGENT’s right title and interest in the JOINT PATENT RIGHTS for the purpose of
developing and commercializing LICENSED PRODUCT(S) on the terms set forth herein. 

  

	2.	DEFINITIONS 

  

	 	2.1	“AFFILIATE” of LICENSEE means any entity that, directly or indirectly, Controls LICENSEE, is Controlled by LICENSEE, or is under common Control with LICENSEE. “Control” means (i) having the
actual, present capacity to elect a majority of the directors of such affiliate, (ii) having the power to direct at least [ * ] of the voting rights entitled to elect directors, or (iii) in any country where the local law will not
permit foreign equity participation of a majority, ownership or control, directly or indirectly, of the maximum percentage of such outstanding stock or voting rights permitted by local law so long as control is secured by such ownership.

  

	 	2.2	 “CRE” shall mean efforts and diligence in developing and commercializing LICENSED PRODUCTS, LICENSED METHOD, or LICENSED SERVICE and in
undertaking investigations and actions required to obtain regulatory approvals, necessary to market LICENSED PRODUCTS, LICENSED METHOD or LICENSED SERVICE in the LICENSED FIELD, such reasonable efforts and diligence to be, on a country-by-country
basis, in accordance with the efforts and resources LICENSEE would use for a product candidate owned or licensed by it or to which it has similar rights, which is of similar market potential as the applicable LICENSED PRODUCT, LICENSED METHOD or
LICENSED SERVICE taking into account all relevant factors including without limitation the competitiveness of the marketplace; the proprietary position of the LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE; the relative potential safety and
efficacy of the LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE; any third party intellectual property required for development or commercialization, logistical challenges; applicable laws, rules, and regulations; timing of market entry and
competitive landscape; the cost of goods and availability 

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

Page 2 of 27 

	 	
of capacity to manufacture and supply the LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE at commercial scale, the profitability of the applicable LICENSED PRODUCT, and technical, legal,
scientific or medical factors. CRE does not include LICENSEE, (i) prior to filing for the first regulatory approval for LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE [ * ] for a LICENSED PRODUCT, LICENSED METHOD or LICENSED
SERVICE for [ * ] or (ii) after First Commercial Sale, [ * ] related to LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE for [ * ]. 

 

	 	2.3	“FIRST COMMERCIAL SALE” means, with respect to a LICENSED PRODUCT, LICENSED METHOD or LICENSED SERVICE, the first sale in the United States in an arms-length transaction of such LICENSED PRODUCT, LICENSED
METHOD or LICENSED SERVICE to a Third-Party by LICENSEE, its Affiliates or a Sublicensee as part of a national commercialization effort after NDA approval. 

  

	 	2.4	“IND APPROVAL” means the expiration of the thirty-day waiting period for IND effectiveness, or earlier approval to proceed with clinical trial(s) under the IND, or, if a clinical hold is imposed, notification
from a Division Director that the clinical trial may proceed. 

  

	 	2.5	“Joint PATENT RIGHTS” means (i) U.S. Patent Application Serial Number [ * ] and assigned to REGENTS and LICENSEE; (ii) U.S. Patent Application Serial Number [ * ] and assigned to
REGENTS and LICENSEE; (iii) U.S. Patent Application Serial Number [ * ] and assigned to REGENTS and LICENSEE; (iv) PCT Application Serial Number [ * ] and assigned to REGENTS and LICENSEE; (v) any patent applications,
utility models, inventors certificates, invention registrations, continuing applications, divisional applications, substitutions, continuation-in-part applications, and equivalents thereof in any jurisdiction anywhere in the world, in each case to
the extent that claims in such filings are entitled to the filing date of the patent applications in (i)-(iv); and (vi) any granted patents issuing on (i)-(v) including any reissues, re-examinations, or extensions thereof. 	 

  

	 	2.6	“LICENSED FIELD OF USE” means any and all uses in all fields. 

  

	 	2.7	“LICENSED METHOD” means any process or method the use or practice of which, but for the license pursuant to this Agreement, would infringe any VALID CLAIM under REGENT PATENT RIGHTS or JOINT PATENT RIGHTS in
that country in which the LICENSED METHOD is used or practiced. 

  

	 	2.8	“LICENSED PRODUCTS” means all products or component parts of a product the manufacture, use, SALE, offer for SALE, or import of which: a) would require the performance of the LICENSED METHOD; or b) but for the
license granted pursuant to this Agreement, would infringe a VALID CLAIM under REGENT PATENT RIGHTS or JOINT PATENT RIGHTS. 

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

Page 3 of 27 

	 	2.9	“LICENSED SERVICE” means provision of a service for a third party, the performance of which would infringe a VALID CLAIM under REGENT PATENT RIGHTS or JOINT PATENT RIGHTS. 

 

	 	2.10	“LICENSED TERRITORY” means any country or jurisdiction having a VALID CLAIM within the REGENT PATENT RIGHTS or JOINT PATENT RIGHTS. 

 

	 	2.11	“NDA” shall mean a new drug application (as defined in Title 21 of the United States Code of Federal Regulations, as amended from time to time) filed with the FDA seeking Regulatory Approval to commercialize
LICENSED PRODUCTS. 

  

	 	2.12	“NET SALES” means amounts invoiced by LICENSEE or a sublicensee for SALES of LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHODS, less the sum of customary deductions to the extent permitted under U.S.
Generally Accepted Accounting Principles and actually taken, which may include cash, trade or quantity discounts, discounts or rebates to governmental, supranational, buying groups (such as PAHO, UNICEF, GAVI, or the Gulf Consortium), or managed
care organizations, credits or deductions for rejected product, returns, expired product or bad debts; sales, use, tariff, import/export duties or other excise taxes or duties (but not income taxes derived from such sales); and handling and
transportation charges; and value added taxes but only to the extent such tax is not subject to a credit and deduction to a taxing authority. Sales of a LICENSED PRODUCT by and between LICENSEE and its Affiliates and Sublicensees are not sales to
third parties and shall be excluded from Net Sales calculations for all purposes; provided that any resale by the purchaser to a third-party distributor or to a third-party for end use, shall be included in Net Sales. Compassionate use, “named
patient sales”, sales made in connection with clinical trials, and product donations shall be excluded from Net Sales calculations. 

In the event that LICENSED PRODUCTS, LICENSED SERVICES or LICENSED METHODS are COMBINATION PRODUCTS, the NET SALES of such COMBINATION
PRODUCT, for the purposes of determining royalty payments pursuant to this Agreement, shall be determined by multiplying the NET SALES of the COMBINATION PRODUCT (as defined below) during the applicable royalty reporting period, by the fraction
A/(A+B), where A is the fair market value of the LICENSED PRODUCTS, LICENSED SERVICES or LICENSED METHODS, and B is the fair market value of all OTHER COMPONENTS included in the COMBINATION PRODUCT. If a COMBINATION PRODUCT is sold, whether or not
the OTHER COMPONENTS are also sold separately, LICENSEE and the REGENTS shall make a good faith determination of the respective fair market values of the LICENSED PRODUCT, LICENSED SERVICES or LICENSED METHODS and all OTHER COMPONENTS included in
the COMBINATION PRODUCT. If neither such LICENSED PRODUCT nor any other active ingredient in the COMBINATION PRODUCT is sold separately, the adjustment to NET SALES shall be determined by the REGENTS and the LICENSEE in good faith to reasonably
reflect the fair market value of the contribution of such Product in the COMBINATION PRODUCT to the total fair market value of such COMBINATION PRODUCT. 

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

Page 4 of 27 

	 	2.13	“COMBINATION PRODUCT” means a LICENSED PRODUCT, LICENSED SERVICE or LICENSED METHOD that incorporates at least one OTHER COMPONENT. For clarity, all references to “LICENSED PRODUCTS, LICENSED SERVICES or
LICENSED METHODS” in this Agreement shall be deemed to include COMBINATION PRODUCTS. 

  

	 	2.14	“OTHER COMPONENT” means a proprietary active therapeutic ingredient or a delivery device, in each case that is not itself a LICENSED PRODUCT, LICENSED SERVICE or LICENSED METHOD. 

 

	 	2.15	“REGENTS’ PATENT RIGHTS” means REGENTS’ rights in (i) U.S. Patent Application, Serial Number [ * ], and assigned to REGENTS; (ii) U.S. Patent Application, Serial Number [ * ],
and assigned to REGENTS; (iii) International Patent Application, Serial Number [ * ], and assigned to REGENTS; (iv) any patent applications, utility models, inventors certificates, invention registrations, continuing applications,
divisional applications, substitutions, continuation-in-part applications, and equivalents thereof in any jurisdiction anywhere in the world, in each case to the extent that claims in such filings are entitled to the filing date of the patent
applications in (i)-(iii)); (v) any granted patents issuing on (i)-(iv) including any reissues, re-examinations, or extensions thereof. 

  

	 	2.16	“SALE” means, for LICENSED PRODUCTS and LICENSED SERVICES, the act of selling, leasing or otherwise transferring, providing, or furnishing such product or service, and for LICENSED METHOD the act of performing
such method for any consideration. Correspondingly, “SOLD” means to have made or caused to be made a SALE. 

  

	 	2.17	“VALID CLAIM” shall mean a claim in an issued, unexpired patent included within the REGENT PATENT RIGHTS or JOINT PATENT RIGHTS or in a pending patent application (which claim is pending for no more than [
* ] years) that (a) has not been cancelled, withdrawn, abandoned or rejected by any administrative agency or other body of competent jurisdiction from which no appeal has or can be taken, (b) has not been revoked, held invalid, or
declared unpatentable or unenforceable in a decision of a court or other body of competent jurisdiction that is unappealable or unappealed within the time allowed for appeal, (c) has not been rendered unenforceable through disclaimer or
otherwise, and (d) is not lost through an interference proceeding. If a claim is pending for more than [ * ] years and later issues in a patent, then as of the patent issue date, the claim again becomes a VALID CLAIM.

  

	3.	GRANT 

  

	 	3.1	 Subject to the terms and conditions set forth in this Agreement, including the license granted to the U.S. Government and the rights reserved in
Paragraph 3.3, REGENTS hereby grants to LICENSEE and LICENSEE hereby accepts an exclusive (even as to REGENTS other than as otherwise specifically reserved in Section 3.3) worldwide royalty-bearing sublicensable license under REGENTS’

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

Page 5 of 27 

	 	
PATENT RIGHTS and REGENTS’S right, title and interest in JOINT PATENT RIGHTS to make, have made, use, have used, SELL, have SOLD, offer for SALE, import, have imported, export, have
exported, develop, have developed, commercialize, and have commercialized LICENSED PRODUCTS and LICENSED SERVICES, and to practice the LICENSED METHOD, in the LICENSED FIELD OF USE in the LICENSED TERRITORY. 

 

	 	3.2	The license under Paragraph 3.1 will be exclusive for a term commencing on the Effective Date and ending on the date of the last-to-expire VALID CLAIM under REGENT PATENT RIGHTS or JOINT PATENT RIGHTS, unless earlier
terminated as permitted herein. 

  

	 	3.3	Nothing in this Agreement will be deemed to limit the right of REGENTS to publish any and all technical data resulting from any research performed by REGENTS relating to the INVENTION. REGENTS expressly reserves the
right to use the INVENTION and related technology for its educational and research purposes, to permit other nonprofit institutions to practice the INVENTION for educational and research purposes; to disseminate the other tangible materials
associated with, or required to practice the INVENTION and/or the REGENT PATENT RIGHTS and JOINT PATENT RIGHTS to researchers at nonprofit institutions for their educational and research purposes. 

 

	 	3.4	This Agreement will terminate ninety (90) days after written notice from REGENTS, if LICENSEE files a claim, including in anyway, the assertion that any portion of the REGENT PATENT RIGHTS or JOINT PATENT RIGHTS is
invalid or unenforceable where the filing is by and assuming such claim is not withdrawn, the LICENSEE, a third party on behalf of the LICENSEE, or a third party at the written urging of the LICENSEE. 

 

	 	3.5	LICENSEE will have a continuing responsibility to keep REGENTS informed of the large/small entity status, as defined in 15 U.S.C. 632, of itself and its sublicensees. 

 

	 	3.6	The INVENTION was funded in part by the U.S. Government. In accordance with PL 96-517 as amended by PL 98-620, to the extent required by law or regulation, any products covered by patent applications or patents claiming
the INVENTION and sold in the United States will be substantially manufactured in the United States. If such manufacture is not reasonable, REGENTS shall reasonably cooperate with LICENSEE in seeking exemption for such requirement.

  

	4.	SUBLICENSES 

  

	 	4.1	REGENTS also grants to LICENSEE the right to sublicense to AFFILIATES and third parties some or all of its rights hereunder provided that LICENSEE has exclusive rights under this Agreement to the rights being
sublicensed at the time of sublicensing. LICENSEE agrees to use its CRE to enforce the provisions of any sublicense of the rights hereunder to the extent material to REGENTS. Every such sublicense will include: 

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

Page 6 of 27 

	 	(a)	a statement setting forth the date upon which LICENSEE’S exclusive rights, privileges, and license hereunder will expire; 

  

	 	(b)	as applicable, all the rights of, and require the performance of all the obligations due to, REGENTS (and, if applicable, the United States Government) under this Agreement other than those rights and obligations
specified in 

  

	 	(c)	as applicable, all the rights of, and require the performance of all the obligations due to, REGENTS (and, if applicable, the United States Government) under this Agreement other than those rights and obligations
specified in Article 5 (License Issue Fee) and Paragraph 6.5 (minimum annual royalty); 

  

	 	(d)	a provision requiring payment of royalties to LICENSEE in an amount sufficient to permit LICENSEE to meet its royalty obligations to REGENTS at the rates and bases set forth in this Agreement; and 

 

	 	(e)	the same provision for indemnification of REGENTS as has been provided for in this Agreement. 

  

	 	4.2	In the event LICENSEE grants a sublicense to the REGENTS’ PATENT RIGHTS and JOINT PATENT RIGHTS, LICENSEE shall pay REGENTS the following percentages of any SUBLICENSING REVENUE (the “SUBLICENSING REVENUE
PERCENTAGE” or “SLP”) received by LICENSEE from such sublicensee based on the LICENSED PRODUCT, LICESED METHOD or LICENSED SERVICE being sublicensed where “SUBLICENSING REVENUE” means, up front license fee payments and/or
annual license fees to the extent attributable to the grant of a sublicense of rights under this Agreement, but shall exclude, royalties, minimum royalties, milestone payments (but subject to the last paragraph of this subsection), development
services payments at fair market value, legal fees for sublicensing, research funding plus reasonable overhead and profit, amounts at up to [ * ] of fair market value directly for development, sales, and/or marketing activities, debt
financing at up to [ * ] of fair market value, purchase of equity at up to [ * ] of fair market value, and/or reimbursement of patent filing, prosecution and maintenance fees and expenses: 

 

	 	(a)	[ * ]: [ * ]. 

  

	 	(b)	[ * ]: [ * ]. 

  

	 	(c)	[ * ]: [ * ]. 

  

	 	(d)	[ * ]: [ * ]. 

  

	 	(e)	If SUBLICENSING REVENUE is received from any sublicense or other transfer of rights granted under this Agreement where such transaction includes: 

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

Page 7 of 27 

	 	i.	[ * ] the payments made by LICENSEE to the third party in respect of the Third Party Licensed Rights and 

  

	 	ii.	[ * ] the payments made by LICENSEE to such third parties in respect of the Third Party Licensed Rights. 

Notwithstanding anything to the contrary the final amount of SUBLICENSING REVENUE payable after permitted reductions shall not be less than
[ * ] of the amount payable prior to the application of deductions. 
  

	 	4.3	LICENSEE will notify REGENTS of each sublicense granted hereunder and furnish to REGENTS a copy of each such sublicense agreement, provided any provisions that are not relevant to LICENSEE’S fulfillment of its
obligations under this Agreement may be redacted. 

  

	 	4.4	LICENSEE will deliver all reports due REGENTS and received from sublicensees. 

  

	 	4.5	AFFILIATES will have no licenses under REGENT PATENT RIGHTS and JOINT PATENT RIGHTS except as granted by sublicense pursuant to this Agreement. 

 

	 	4.6	LICENSEE remains responsible for the payment of all monies and other consideration due REGENTS as a consequence of sublicenses, and deliver all reports due REGENTS and received from sublicensees, provided LICENSEE may
require sublicensees to make reports and payments directly to REGENTS in the interests of timing. Should a sublicensee breach its payment obligations under a sublicense, LICENSEE shall pay to REGENTS its proportional share of any monies actually
recovered from the sublicensee after payment by LICENSEE of its reasonable collection costs and legal fees and costs related thereto. 

  

	 	4.7	To the extent permitted under the sublicense agreement, a sublicensee shall have the right to grant further sublicenses to its AFFILIATE and third parties to the extent such sublicensee deems such further sublicense to
be commercially reasonable, useful or necessary for the development and/or commercialization of LICENSED PRODUCT(S), LICENSED SERVICE or LICENSED METHOD(S) in accordance with this Agreement; provided that (i) such further sublicense is subject
to a written sublicense agreement and is bound by all of the applicable terms, conditions, obligations, restrictions and other covenants of this Agreement that protect or benefit the REGENTS’ (and, if applicable, the U.S. Government’s)
rights and interests under this Agreement, and (ii) the sublicensee shall, within [ * ] days after issuing any further sublicense, furnish to LICENSEE for delivery to REGENTS, subject to any confidentiality provisions with third parties,
a copy of each such sublicense agreement, provided any provisions that are not relevant to LICENSEE’S fulfillment of its obligations under this Agreement may be redacted.. 

 

	 	4.8	Upon termination of this Agreement for any reason, all sublicenses that are granted by LICENSEE pursuant to this Agreement where the sublicensee is in compliance with its sublicense agreement as of the date of such
termination will remain in effect and, will be assigned to REGENTS except that REGENTS will not be bound to perform any duties or obligations set forth in any sublicenses that extend beyond the duties and obligations of REGENTS set forth in this
Agreement. 

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

Page 8 of 27 

	 	4.9	Beginning on [ * ] and thereafter: 

  

	 	(a)	If REGENTS provides the LICENSEE written clinical or other compelling and reliable scientific, safety and commercial evidence demonstrating a significant commercial opportunity within the LICENSED FIELD OF USE, which
use was undiscovered as of the Effective Date and at the time of notice from REGENTS is not currently being developed or commercialized, and is not the subject of a plan to be developed or commercialized, by LICENSEE, its Affiliates or sublicensees
(the “NEW FIELD”), LICENSEE shall use CRE either to provide REGENTS with a development plan and start development in the NEW FIELD, or attempt to sublicense the NEW FIELD use to a third party. 

 

	 	(b)	If within [ * ] months of such written notification by REGENTS, LICENSEE has not initiated reasonable efforts to finance, develop or sublicense the NEW FIELD, REGENTS may for the following [ * ] months
(the “Negotiation Period”) on written notice to the LICENSEE enter into negotiations with a third party for a license to the NEW FIELD. If (i) REGENTS has during the Negotiation Period a bona fide offer from a third party (“Third
Party Licensee”) to enter into a license for the development of the NEW FIELD on terms that reflect fair market value for the rights to be granted, (ii) the Third Party Licensee has submitted a bona fide development and commercialization
plan for the NEW FIELD, and (iii) REGENTS and LICENSEE have agreed in writing that development of the indication as planned will not adversely affect current or anticipated development and commercialization of LICENSED PRODUCTS and LICENSED
SERVICES including, without limitation, obtaining approval or sales for LICENSED PRODUCTS for anticipated indications for use, REGENTS may enter into the license contemplated in 4.9(b)(ii) in the NEW FIELD with such Third Party Licensee. Upon
execution of the new license meeting all the requirements herein, the LICENSED FIELD OF USE shall be amended mutatis mutandis. For clarity, such amendment to the LICENSED FIELD OF USE permitted by this Section shall not be effective until
REGENTS and the third party licensee enters into the proposed license. 

  

	 	(c)	If a license meeting the requirements herein is not executed by REGENTS and the Third Party Licensee prior to the end of such Negotiation Period, then the license shall not be granted by REGENTS and the termination of
the relevant indication and amendment of the LICENSED FIELD OF USE shall not be effective. If any license with the Third Party Licensee that is permitted under this provision is terminated, written notice of the same will be delivered to LICENSEE
and the terminated rights shall be automatically restored as part of LICENSEE’s rights under this Agreement as of the date of termination, unless requested otherwise by the LICENSEE. Following such restoration, the terms and conditions under
this Section 4.9 will be reinstated and restored in full force as of the termination date. 

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

Page 9 of 27 

	 	4.10	For clarity, this Section shall not be applicable if LICENSEE reasonably demonstrates to REGENTS that commercializing such LICENSED PRODUCT(S) or LICENSED SERVICE(S) or granting such a sublicense in the NEW FIELD would
have a potentially adverse commercial effect upon development, marketing or sales, or future development, marketing or sales, of the LICENSED PRODUCT(S) or LICENSED SERVICES. 

 

	5.	LICENSE ISSUE FEE 

 LICENSEE will pay to REGENTS a license issue fee of Fifty Thousand
US Dollars (US$50,000) due within [ * ] days of signing this Agreement by both parties. This fee is non-refundable and is not an advance against royalties or other payments due under this Agreement. 

 

	6.	ROYALTIES, ANNUAL LICENSE MAINTENANCE FEE AND MINIMUM ROYALTIES 

  

	 	6.1	For the duration of the term of this Agreement, LICENSEE will pay to REGENTS earned royalties at the rate of [ * ] of the NET SALES of LICENSED PRODUCT(S) OR LICENSED METHOD; subject to the following:

  

	 	(a)	If LICENSEE [ * ] to make any payment (including upfront payments, milestones, royalties or other license fees or payments) to a third party to obtain a license or other patent rights [ * ], such third
party payments will be creditable against amounts owed to REGENTS in the order such amounts are owed until fully credited, provided that [ * ] will credits reduce any amounts owed to REGENTS by more than [ * ] of amounts owed to
REGENTS [ * ]. When making payment under this Paragraph 6.1 (i), LICENSEE shall provide REGENTS with supporting information and documentation used to determine the amount of any such credit. 

 

	 	6.2	Royalties accruing to REGENTS will be paid to REGENTS quarterly within [ * ] days after the end of each calendar quarter, and [ * ] days with respect to NET SALES by sublicensees. 

 

	 	6.3	LICENSEE will also pay to REGENTS an annual license maintenance fee of Twenty Thousand U.S. Dollars (US$20,000) beginning on the first anniversary date of the Effective Date and on each anniversary of the Effective Date
thereafter during the term of the AGREEMENT until the FIRST COMMERCIAL SALE by LICENSEE of a LICENSED PRODUCT. 

  

	 	6.4	 Beginning with the first calendar year that begins after FIRST COMMERCIAL SALE and for each succeeding calendar year thereafter, LICENSEE will pay to
the REGENTS a minimum annual royalty of [ * ] increasing by [ * ] every year 

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

Page 10 of 27 

	 	
thereafter but capped at a total of [ * ] per year in minimum royalties for the remainder of term of this Agreement. This minimum annual royalty will be paid to the REGENTS by
January 30 of each such calendar year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment was made. 

 

	 	6.5	LICENSEE will pay the following one-time milestone payments on the first occurrence of the following: 

  

	 	(a)	LICENSEE will pay to REGENTS a non-refundable, non-creditable milestone payment of [ * ] within [ * ] days of [ * ]. 

 

	 	(b)	LICENSEE will pay to REGENTS a non-refundable, non-creditable milestone payment of [ * ] within [ * ] days of [ * ]. 

 

	 	(c)	LICENSEE will pay to REGENTS a non-refundable, non-creditable milestone payment of [ * ] within [ * ] days of [ * ]. 

 

	 	(d)	LICENSEE will pay to REGENTS a non-refundable, non-creditable milestone payment of [ * ] within [ * ] days of [ * ].. 

 

	 	(e)	LICENSEE will pay to REGENTS a non-refundable, non-creditable milestone payment of [ * ] within [ * ] days of [ * ]. 

 

	 	6.6	All payments due REGENTS will be payable in United States Dollars. When LICENSED PRODUCTS, LICENSED SERVICES, or LICENSED METHOD are SOLD for monies other than United States Dollars, royalties will first be determined
in the foreign currency of the country in which the SALE was made and then converted into equivalent United States Dollars. The exchange rate will be that rate quoted in the Wall Street Journal on the average of last [ * ] business
days of the reporting period. 

  

	 	6.7	If any patent or patent application, or any claim thereof, included within REGENTS’ PATENT RIGHTS or JOINT PATENT RIGHTS does not include a VALID CLAIM all obligation to pay royalties based on such patent, patent
application or claim, or any claims patentably indistinct therefrom, will cease as of the date of such expiration or final decision. LICENSEE will not, however, be relieved from paying any royalties that accrued before such expiration or decision or
that are based on another VALID CLAIM. 

  

	 	6.8	Payments due and payable to REGENTS for SALES occurring in any country outside the United States will be reduced by any taxes, fees, or other charges or withholding imposed by the government of such country on the
remittance of royalty income. LICENSEE will also be responsible for all bank transfer charges, shall reasonably cooperate with REGENTS in the recovery of any amounts paid by LICENSEE on REGENTS’ behalf. 

 

	 	6.9	LICENSEE will make all payments under this Agreement by check payable to “The Regents of the University of California” and forward it to: University of California, Innovation Alliances and Services (IAS),
Attn: Accounts Receivable, 1111 Franklin Street, 5th Floor, Oakland, CA 94607. 

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

Page 11 of 27 

	 	6.10	No earned royalties will be collected or paid to REGENTS hereunder on SALES to, or for use by, the United States Government. LICENSEE will reduce the amount charged for such SALES by an amount equal to the earned
royalty otherwise due REGENTS as provided herein. 

  

	7.	DUE DILIGENCE 

  

	 	7.1	LICENSEE will use its CRE to proceed with the development, manufacture, and SALE of LICENSED PRODUCTS, and will use its CRE to manufacture LICENSED PRODUCT in quantities sufficient to meet the market demand.

  

	 	7.2	In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving the following objectives in its due diligence activities under this Agreement: 

 

			
	 Key Milestone
	 	 Year Completed

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

  

	 	7.3	 If LICENSEE is unable to meet any of its diligence obligations set forth in Paragraphs 7.1 and 7.2, then REGENTS will so notify LICENSEE of failure to
perform. LICENSEE will have the right and option to extend the target date of any such due diligence obligation for periods of [ * ] months upon the payment of [ * ] within [ * ] days of the date to be extended for each such
extension option exercised by LICENSEE, and all following milestone dates shall be adjusted accordingly. LICENSEE may further extend the target date of any diligence obligation for an additional [ * ] months upon payment of an additional [
* ], and all following milestone dates shall be adjusted accordingly. Additional extensions may be granted only by mutual written agreement of the parties to this Agreement. Payments made by LICENSEE in respect of extension periods for the
achievement of a Key Milestone are in addition to the minimum royalty payments specified in Paragraph 6.5. Should LICENSEE opt not to extend the obligation or fail to meet it by the extended target date, then REGENTS will have the right and option
either to terminate this Agreement or to reduce LICENSEE’s exclusive license to a non-exclusive royalty-bearing license. This right, if exercised by REGENTS, supersedes the rights granted in Article 3. The right to terminate this Agreement or

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

Page 12 of 27 

	 	
reduce LICENSEE’s exclusive license granted hereunder to a non-exclusive license will be REGENTS’ sole remedy for breach of Paragraph 7.1 or 7.2. Should REGENTS choose to reduce
LICENSEE’s exclusive license to a non-exclusive royalty-bearing license, LICENSEE shall have the right to terminate this Agreement on written notice from LICENSEE to REGENTS under Article 12. 

 

	 	7.4	At the written request of either party for arbitration, any controversy or claim arising out of or relating to the diligence provisions of Paragraphs 7.1 and 7.2 will be settled by a single arbitrator with no fewer than
[ * ] years’ experience in pharmaceutical licensing as part of an arbitration conducted in San Francisco, California in accordance with the then current Licensing Agreement Arbitration Rules of the American Arbitration Association. The
arbitrator shall be mutually agreed upon by the parties unless no arbitrator can be agreed within [ * ] days of the initial request for arbitration, in which case American Arbitration Association will appoint an arbitrator, and the
arbitration is concluded within [ * ] days after the initial request for arbitration. Judgment upon the award rendered by the arbitrator(s) will be binding on the parties and may be entered by either party in the court or forum having
jurisdiction. For clarity, the parties intend that the judgment not be subject to review or modification by any other court or tribunal. In determination of due diligence, the arbitrator may determine solely the issues of fact or law with respect to
termination of LICENSEE’s rights under this Agreement but will not have the authority to award monetary damages or grant equitable relief. 

  

	 	7.5	To exercise either the right to terminate this Agreement or to reduce the license to a non-exclusive license for lack of diligence under Paragraph 7.1 or 7.2, REGENTS will give LICENSEE written notice of the deficiency.
LICENSEE thereafter has [ * ] days to cure the deficiency or to request arbitration. If REGENTS has not received a written request for arbitration or satisfactory tangible evidence that the deficiency has been cured by the end of the [ *
] - day period, then REGENTS may, at its option, either terminate this Agreement or reduce LICENSEE’s exclusive license to a non-exclusive license by giving written notice to LICENSEE. If LICENSEE requests arbitration and the arbitrator
concludes that LICENSEE has fulfilled all of its obligations under Sections 7.1 and 7.2, then REGENTS shall not have the right to terminate this Agreement or reduce LICENSEE’s exclusive license to a non-exclusive license, and LICENSEE’s
costs and expenses of arbitration shall be offset against any amounts payable to REGENTS until paid in full.. These notices will be subject to Article 23 (Notices). 

 

	8.	PROGRESS AND ROYALTY REPORTS 

  

	 	8.1	For the period beginning March 2015, LICENSEE will submit to REGENTS a semi-annual progress report covering LICENSEE’s activities related to the development and testing of all LICENSED PRODUCTS, LICENSED SERVICES
and LICENSED METHOD and the obtaining of necessary governmental approvals, if any, for marketing in the United States. These progress reports will be made for all development activities until FIRST COMMERCIAL SALE. 

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

Page 13 of 27 

	 	8.2	Each progress report will be a sufficiently detailed summary of activities of LICENSEE and any sublicensees so that REGENTS may evaluate and determine LICENSEE’s progress in development of LICENSED PRODUCTS,
LICENSED SERVICES, and LICENSED METHOD, and in meeting its diligence obligations under Article 7, and will include (to the extent relevant at the time of reporting) the following: summary of work completed and in progress; current schedule of
anticipated events and milestones, including diligence milestones under Paragraph 7.2; anticipated market introduction dates for the licensed territories; and sublicensee’s activities during the reporting period. For clarity, any discussion by
LICENSEE in a progress report as to anticipated events is speculative in all respects and subject to change and, as a result, may not be relied on by REGENTS. 

  

	 	8.3	LICENSEE also will report to REGENTS in its immediately subsequent progress and royalty reports, the date of first SALE. 

  

	 	(a)	After the FIRST COMMERCIAL SALE anywhere in the world, LICENSEE will make quarterly royalty reports to REGENTS within [ * ] days after the quarters ending March 31, June 30, September 30,
and December 31, of each year. Each such royalty report will include at least the following: The number of LICENSED PRODUCTS manufactured and the estimated number SOLD; 

 

	 	(b)	Gross revenue from SALE of LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHOD; 

  

	 	(c)	NET SALES pursuant to Paragraph 2.8; 

  

	 	(d)	Total royalties due REGENTS; and 

  

	 	(e)	Names and addresses of any new sublicensees along with a summary of the material terms of each new sublicense agreement entered into during the reporting quarter. 

 

	 	8.4	If no SALES have occurred during the report period, a statement to this effect is required in the royalty report for that period. 

  

	9.	BOOKS AND RECORDS 

  

	 	9.1	 LICENSEE will keep full, true, and accurate books and records containing all particulars that may be necessary for the purpose of showing the amount
of royalties payable to REGENTS and LICENSEE’s compliance with other obligations under this Agreement. Said books and records will be kept at LICENSEE’s principal place of business or the principal place of business of the appropriate
division of LICENSEE to which this Agreement relates. Said books and records and the supporting data will be open at all reasonable times during normal business hours upon reasonable notice, for [ * ] years following the end of the calendar
year to which they pertain, to the inspection and audit by representatives of REGENTS for the purpose of verifying LICENSEE’s royalty statement or compliance in other respects with this Agreement. Such

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

Page 14 of 27 

	 	
representatives will be bound to hold all information in confidence except as necessary to communicate LICENSEE’s non-compliance with this Agreement to REGENTS. 

 

	 	9.2	The fees and expenses of REGENTS’ representatives performing such an examination will be borne by REGENTS. However, if an error in underpaid royalties to REGENTS of more than [ * ] of the total royalties due
for any year is discovered, then the fees and expenses of these representatives will be borne by LICENSEE. 

  

	10.	TERM OF THE AGREEMENT 

  

	 	10.1	Unless earlier terminated as permitted in this Agreement, the term of this Agreement shall begin on the Effective Date and will continue until the termination of the last VALID CLAIM of the REGENTS’ PATENT RIGHTS
and JOINT PATENT RIGHTS. 

  

	 	10.2	Any termination of this Agreement shall not affect the rights and obligations set forth in the following articles: 

  

			
	Article 2		Definitions
		
	Article 4		Sublicenses
		
	Article 9		Books and Records
		
	Article 10		Term of the Agreement
		
	Article 13		Disposition of Licensed Products Upon Termination
		
	Article 16		Use of Names and Trademarks
		
	Article 17		Limited Warranties and Limit of Liability
		
	Article 19		Indemnification
		
	Article 23		Notices
		
	Article 24		Late Payments
		
	Article 26		Confidentiality
		
	Article 29		Applicable Law; Venue

  

	 	10.3	Any termination of this Agreement will not relieve LICENSEE of its obligation to pay any monies due or owing at the time of such termination and will not relieve any obligations, of either party to the other party,
accruing prior to termination. 

  

	11.	TERMINATION BY REGENTS 

 If LICENSEE materially breaches any material term of this
Agreement, then REGENTS may give written notice of such material breach (“Notice of Default”) to LICENSEE. If LICENSEE should fail to remedy such material breach within ninety (90) days of the effective date of such notice, REGENTS
will have the right to terminate this Agreement and the licenses herein by a second written notice (“Notice of Termination”) to LICENSEE. If a Notice of Termination is sent to LICENSEE, this Agreement will

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

Page 15 of 27 

 
automatically terminate on the effective date of such notice. Such termination will not relieve LICENSEE of its obligation to pay any royalty or license fees owing at the time of such termination
and will not impair any accrued rights of REGENTS. These notices will be subject to Article 23 (Notices). 
  

	12.	TERMINATION BY LICENSEE 

  

	 	12.1	LICENSEE will have the right at any time to terminate this Agreement in whole or as to any portion of REGENT PATENT RIGHTS or JOINT PATENT RIGHTS by giving notice in writing to REGENTS. Such notice of termination will
be subject to Article 23 (Notices) and termination of this Agreement will be effective ninety (90) days after the effective date of such notice. 

  

	 	12.2	Any termination pursuant to Paragraph 12.1 will not relieve LICENSEE of any obligation or liability accrued hereunder prior to such termination or rescind anything done by LICENSEE or any payments made to REGENTS
hereunder prior to the time such termination becomes effective, and such termination will not affect in any manner any rights of REGENTS arising under this Agreement prior to such termination. 

 

	13.	DISPOSITION OF LICENSED PRODUCTS UPON TERMINATION 

 Upon termination of this Agreement,
for a period of one year after the date of termination LICENSEE may complete and SELL any LICENSED PRODUCTS in stock, in process or subject to binding purchase orders, and continue to render any previously commenced LICENSED SERVICES under existing
agreements, and continue the practice of LICENSED METHOD only to the extent necessary to do so; provided, however, that all such SALES will be subject to the terms of this Agreement including, but not limited to, the payment of royalties at the rate
and at the time provided herein and the rendering of reports thereon. 
  

	14.	PATENT PROSECUTION AND MAINTENANCE 

  

	 	14.1	 REGENTS will diligently prosecute and maintain the United States and foreign patent applications and patents under REGENTS’ PATENT RIGHTS,
subject to LICENSEE’S reimbursement of REGENTS’ out of pocket costs under Article 14.4 below, and all patent applications and patents under REGENTS’ PATENT RIGHTS will be held in the name of REGENTS. REGENTS will have sole
responsibility for retaining and instructing patent counsel with regards to U.S. Patent Applications, Serial No. [ * ], and continuing applications thereof including divisions, substitutions, extensions and continuation-in-part applications
any patents issuing on said application or continuing applications including reissues; and any corresponding foreign patents or applications, but continued use of such counsel at any point in the patent prosecution process subsequent to initial
filing of a U.S. patent application covering the INVENTION shall be subject to the approval of LICENSEE. If LICENSEE rejects three of REGENTS’ choices of prosecution counsel, then REGENTS may select new prosecution counsel without
LICENSEE’s consent. REGENTS shall promptly provide LICENSEE with copies of all relevant documentation so that LICENSEE may be currently informed and apprised of the 

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

Page 16 of 27 

	 	
continuing prosecution and LICENSEE agrees to keep this documentation confidential in accordance with Article 26. LICENSEE may comment upon such documentation, provided, however, that if LICENSEE
has not commented upon such documentation in reasonable time for REGENTS to sufficiently consider LICENSEE’s comments prior to the deadline for filing a response with the relevant government patent office, REGENTS will be free to respond
appropriately without consideration of LICENSEE’s comments. LICENSEE and LICENSEE’s patent counsel will have the right to consult with patent counsel chosen by REGENTS. 

 

	 	14.2	LICENSEE will diligently prosecute and maintain the United States and foreign patent applications and patents under JOINT PATENT RIGHTS and all patent applications and patents under JOINT PATENT RIGHTS will be held in
the name of REGENTS and LICENSEE. LICENSEE will have sole responsibility for retaining and instructing patent counsel with regards to U.S. Patent Applications, Serial Nos. [ * ], and continuing applications thereof including divisions,
substitutions, extensions and continuation-in-part applications any patents issuing on said application or continuing applications including reissues; and any corresponding foreign patents or applications. LICENSEE shall promptly provide REGENTS
with copies of all relevant documentation so that REGENTS may be currently informed and apprised of the continuing prosecution and REGENTS agrees to keep this documentation confidential in accordance with Article 26. REGENTS may comment upon such
documentation, provided, however, that if REGENTS has not commented upon such documentation in reasonable time for LICENSEE to sufficiently consider REGENTS’s comments prior to the deadline for filing a response with the relevant government
patent office, LICENSEE will be free to respond appropriately without consideration of REGENTS comments. REGENTS and REGENTS’ patent counsel will have the right to consult with patent counsel chosen by LICENSEE. If LICENSEE decided to not file
or cease patent prosecution on a patent application or maintenance of a JOINT PATENT RIGHTS, the LICENSEE will notify the REGENTS so the REGENTS may continue the patent prosecution or maintenance at its own cost. 

 

	 	14.3	REGENTS and LICENSEE will use reasonable efforts to prepare or amend any patent application to include claims reasonably requested by LICENSEE and REGENTS to protect the LICENSED PRODUCTS contemplated to be SOLD or to
be practiced under this Agreement. 

  

	 	14.4	Subject to Paragraphs 14.4 and 14.5, all past (unreimbursed), present, and future costs for preparing, filing, prosecuting, and maintaining all United States and foreign patent applications, and patents under
REGENTS’ PATENT RIGHTS will be borne by LICENSEE, so long as the licenses granted to LICENSEE herein are exclusive. To date the unreimbursed past patent costs are approximately Four Thousand One Hundred and Seven U.S. Dollars (US$4,107.00)
Payments are due within [ * ] days after receipt of invoice from REGENTS. If, however, REGENTS reduces the exclusive licenses granted herein to non-exclusive licenses pursuant to Paragraphs 7.3, 7.4, or 7.5 and REGENTS grants additional
license(s), the costs of preparing, filing, prosecuting and maintaining such patent applications and patents will be divided equally among the licensed parties from the effective date of each subsequently granted license agreement.

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

Page 17 of 27 

	 	14.5	LICENSEE’s obligation to underwrite and to pay all domestic and foreign patent filing, prosecution, and maintenance costs will continue for so long as this Agreement remains in effect, provided, however, that
LICENSEE may terminate its obligations with respect to any given patent application or patent in any or all designated countries upon [ * ] months’ written notice to REGENTS. REGENTS will use its best efforts to curtail patent costs when
such a notice is received from LICENSEE. REGENTS may continue prosecution and/or maintenance of such applications or patents at its sole discretion and expense; provided, however, that LICENSEE will have no further right or licenses thereunder.

  

	15.	MARKING 

 LICENSEE agrees to mark LICENSED PRODUCT(S) (or their containers or labels)
made, sold, licensed or otherwise disposed of in the United States under the license granted in this Agreement with the patent numbers of any applicable U.S. patent(s) in accordance with applicable U.S. laws. All LICENSED PRODUCTS shipped to,
manufactured, or sold in other countries will be marked in such manner as to conform with the patent laws and practice of such countries. 
  

	16.	USE OF NAMES AND TRADEMARKS 

 Nothing contained in this Agreement will be construed as
conferring any right to use in advertising, publicity or other promotional activities any name, trademark, trade name, or other designation of either party hereto by the other (including any contraction, abbreviation, or simulation of any of the
foregoing). Unless required by law or consented to in writing by REGENTS, the use by LICENSEE of the name “The Regents of the University of California” or the name of any University of California campus in advertising, publicity or other
promotional activities is expressly prohibited. 
  

	17.	LIMITED WARRANTIES AND LIMITATION OF LIABILITY 

  

	 	17.1	REGENTS warrants to LICENSEE that it has the lawful right to grant this license. 

  

	 	17.2	This license and the associated INVENTION are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESSED OR IMPLIED. REGENTS MAKES NO REPRESENTATION OR WARRANTY
THAT THE INVENTION, REGENTS’ PATENT RIGHTS OR JOINT PATENT RIGHTS, LICENSED PRODUCT(S), LICENSED SERVICES OR LICENSED METHOD WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT. 

 

	 	17.3	SUBJECT TO LICENSEE’S DUTIES UNDER ARTICLE 19 FOR CLAIMS OF THIRD PARTIES, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY INCIDENTIAL, SPECIAL, INDIRECT OR CONSEQUENTIAL OR PUNITIVE DAMAGES RESULTING
FROM EXERCISE OF THIS LICENSE OR THE USE OF THE INVENTION, REGENTS’ PATENT RIGHTS AND JOINT PATENT RIGHTS, LICENSED METHOD, OR LICENSED PRODUCT(S). 

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

Page 18 of 27 

	 	17.4	Nothing in this Agreement is or will be construed as: 

  

	 	(a)	A warranty or representation by REGENTS as to the validity, enforceability or scope of any REGENT PATENT RIGHTS or JOINT PATENT RIGHTS; or 

 

	 	(b)	A warranty or representation that anything made, used, or SOLD under any license granted in this Agreement is or will be free from infringement of patents of third parties; or 

 

	 	(c)	An obligation to bring or prosecute actions or suits against third parties for patent infringement, except as provided in Article 18; or 

 

	 	(d)	Conferring by implication, estoppel, or otherwise any license or rights under any patents of REGENTS other than REGENTS’ PATENT RIGHTS AND JOINT PATENT RIGHTS as defined herein, regardless of whether such patents
are dominant or subordinate to REGENTS’ PATENT RIGHTS AND JOINT PATENT RIGHTS; or 

  

	 	(e)	An obligation to furnish any know-how not provided in the patents and patent applications under REGENT PATENT RIGHTS or JOINT PATENT RIGHTS. 

 

	18.	PATENT INFRINGEMENT 

  

	 	18.1	In the event that a party (for the REGENTS, to the extent of actual knowledge of the licensing professional responsible for administration of this Agreement) learns of the substantial infringement of any REGENT PATENT
RIGHTS or JOINT PATENT RIGHTS under this Agreement, they will promptly provide the other party with notice and reasonable evidence of such infringement (“Infringement Notice”). During the period and in a jurisdiction where LICENSEE has
exclusive rights under this Agreement, neither party will notify a third party, including the infringer, of the infringement without first obtaining consent of the other party, which shall not be unreasonably withheld. The parties will cooperate to
terminate such infringement without litigation. 

  

	 	18.2	 If the infringing activity of potential commercial significance has not been abated within [ * ] days following the effective date of the
Infringement Notice, LICENSEE may institute suit for patent infringement against the infringer. REGENTS may voluntarily join such suit at its own expense, but may not thereafter commence suit against the infringer for the acts of infringement that
are the subject of LICENSEE’s suit or any judgment rendered in that suit. LICENSEE may not join REGENTS in a suit initiated by LICENSEE without REGENTS’ prior written consent, If, in a suit initiated by LICENSEE, REGENTS is involuntarily
joined 

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

Page 19 of 27 

	 	
other than by LICENSEE, LICENSEE will pay the out-of-pocket costs incurred by REGENTS arising out of such suit, including but not limited to, any legal fees of counsel that REGENTS selects and
retains to represent it in the suit, assuming REGENTS will use reasonable efforts to pursue a joint defense if there are no related conflicts that make such joint defense unreasonable. For the avoidance of doubt, REGENTS will determine
reasonableness. 

  

	 	18.3	If, within [ * ] days following the effective date of the Infringement Notice, the infringing activity of potential commercial significance has not been abated and if LICENSEE has not brought suit against the
infringer, REGENTS may institute suit for patent infringement against the infringer. If REGENTS institutes such suit, LICENSEE may not join such suit without REGENTS’ consent and may not thereafter commence suit against the infringer for the
acts of infringement that are the subject of REGENTS’ suit or any judgment rendered in that suit. 

  

	 	18.4	Such legal action as is decided upon will be at the expense of the party on account of whom suit is brought and all recoveries recovered thereby will belong to such party, provided that legal action brought jointly by
REGENTS and LICENSEE and participated in by both, will be at the joint expense of the parties and all recoveries will be allocated in the following order: a) to each party reimbursement in equal amounts of the attorney’s costs, fees, and other
related expenses to the extent each party paid for such costs, fees, and expenses until all such costs, fees, and expenses are paid in full; and b) any remaining amount shared jointly by them in proportion [ * ], but in no event will
REGENTS’ share be less than [ * ] of such remaining amounts if REGENTS is a party. 

  

	 	18.5	Each party will cooperate with the other in litigation instituted hereunder but at the expense of the party on account of whom suit is brought. Such litigation will be controlled by the party bringing the action, except
that REGENTS may, at its own expense, be represented by counsel of its choice in any suit brought by LICENSEE. 

  

	19.	INDEMNIFICATION 

  

	 	19.1	LICENSEE will, and will require its sublicensees, to indemnify, hold harmless, and defend REGENTS, its officers, employees, and agents, sponsor(s) of the research that led to the INVENTION, the inventors of any patents
and patent applications in REGENTS’ PATENT RIGHTS and JOINT PATENT RIGHTS, and their employers (“REGENTS INDEMNITEES”) against any and all claims, suits, losses, damages, costs, fees, and expenses resulting from or arising of exercise
of this license or any sublicense including, without limitation, any cause of action relating to product liability This indemnification will include but not to be limited to any product liability. 

 

	 	19.2	LICENSEE, at its sole cost and expense, will insure its activities in connection with any work performed hereunder and will obtain, keep in force, and maintain the following insurance: 

 

	 	(a)	prior to clinical trials, Commercial Form General Liability Insurance (contractual liability included) with limits as follows: 

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

Page 20 of 27 

  

					
	 Each Occurrence
		$	 500,000	  
	 Products/Completed Operations Aggregate
		$	0.          	  
	 Personal and Advertising Injury
		$	0.          	  
	 General Aggregate
		$	1,000,000	  

  

	 	(b)	upon the earlier of any clinical trials, Commercial Form General Liability Insurance (contractual Liability included) with limits as follows: 

 

					
	 Each Occurrence
		$	5,000,000	  
	 Products/Completed Operations Aggregate
		$	5,000,000	  
	 Personal and Advertising Injury
		$	0.             	  
	 General Aggregate
		$	3,000,000	  

  

	 	(c)	upon the earlier of the First Commercial Sale of a LICENSED PRODUCT or LICENSED SERVICE, Commercial Form General Liability Insurance (contractual Liability included) with limits as follows: 

 

					
	Each Occurrence		$	5,000,000	  
	Products/Completed Operations Aggregate		$	10,000,000	  
	Personal and Advertising Injury		$	5,000,000	  
	General Aggregate		$	10,000,000	  

 If the above insurance is written on a claims-made form, it shall continue for three (3) years following
termination or expiration of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the First Commercial Sale of LICENSED PRODUCT; and 

 

	 	(d)	worker’s compensation as legally required in the jurisdiction in which LICENSEE is doing business. 

  

	 	19.3	The coverage and limits referred to in Subparagraphs 19.2a, 19.2b and 19.2c above will not in any way limit the liability of LICENSEE under this Article. Upon the execution of this Agreement, LICENSEE will furnish
REGENTS with certificates of insurance evidencing compliance with all requirements. Such certificates will: 

  

	 	(a)	indicate that REGENTS has been endorsed as an additional insured under the coverage described above in Subparagraph l9.2. 

  

	 	(b)	include a provision that the coverage will be primary and will not participate with, nor will be excess over, any valid and collectable insurance or program of self-insurance maintained by REGENTS. 

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

Page 21 of 27 

	 	    	LICENSEE will promptly notify REGENTS of any cancellation of insurance coverages; LICENSEE will promptly notify REGENTS of any material reduction of the insurance coverages below the amounts required hereunder.

  

	 	19.4	LICENSEE will provide prompt written notice of any cancellation of insurance coverages or any material reduction of the insurance coverages below the amounts required above in Subparagraph 19.2. 

 

	 	19.5	REGENTS will promptly notify LICENSEE in writing of any claim or suit brought against REGENTS for which REGENTS intends to invoke the provisions of this Article 19. LICENSEE will keep REGENTS informed of its defense of
any claims pursuant to this Article 19. 

  

	20.	COMPLIANCE WITH LAWS 

 LICENSEE will comply with all applicable international, national,
state, regional, and local laws and regulations in performing its obligations hereunder and in its use, manufacture, SALE or import of the LICENSED PRODUCTS, LICENSED SERVICES, or practice of the LICENSED METHOD. LICENSEE understands that REGENTS is
subject to United States laws and regulations (including the Arms Export Control Act, as amended, and the Export Administration Act of 1979), controlling the export of technical data, computer software, laboratory prototypes and other commodities,
and REGENTS’ obligations under this Agreement are contingent on compliance with such laws and regulations. The transfer of certain technical data and commodities may require a license from the cognizant agency of the United States Government
and/or written assurances by LICENSEE that LICENSEE will not export such technical data and/or commodities to certain foreign countries without prior approval of such agency. REGENTS neither represents that a license will not be required nor that,
if required, it will be issued. 
  

	21.	GOVERNMENT APPROVAL OR REGISTRATION 

 If this Agreement or any associated transaction is
required by the law of any nation to be either approved or registered with any governmental agency, LICENSEE will assume all legal obligations to do so. LICENSEE will notify REGENTS if it becomes aware that this Agreement is subject to a United
States or foreign government reporting or approval requirement. LICENSEE will make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs associated with such reporting or approval process. 

 

	22.	ASSIGNMENT 

 This Agreement is binding upon and shall inure to the benefit of REGENTS,
its successors and assigns. This Agreement will be personal to LICENSEE and is only assignable by LICENSEE only with the written consent of REGENTS, except that LICENSEE may freely assign this Agreement to its AFFILIATE, or an acquirer of all or
substantially all of LICENSEE’s stock, assets or business to which this Agreement relates. If LICENSEE assigns this Agreement to a non-AFFILIATE third party, then upon execution of the assignment, LICENSEE will (i) provide REGENTS with the
updated contact information, and (ii) pay REGENTS Three Hundred Thousand Dollars ($300,000) within [ * ] days after 

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

Page 22 of 27 

 
the effective date of the assignment. The REGENTS may assign to an invention management organization without LICENSEES approval, provided that the organization is managing the inventions on
behalf of the University of California, Berkeley. 
  

	23.	NOTICES 

 All notices under this Agreement shall be in writing and may be delivered in
person, or mailed by registered or certified U.S. mail, or sent by nationally recognized overnight courier. All such notices shall be deemed delivered at the following address. 

 

			
	To REGENTS:		Office of Technology Licensing
			2150 Shattuck Avenue, Suite 510
			Berkeley, CA 94704-1347
			Attn.: Director
			(UC Case No.: [ * ])
		
	To LICENSEE:		Aduro Biotech
			626 Bancroft Way
			Berkeley, CA 94710-2224
			Attn.: Steven Bodovitz <sbodovitz@adurobiotech.com>

 If received on a day other than a business day, then such notice shall be deemed delivered on the next business
day at the address of receipt. Either party may change its address upon written notice to the other party. 
  

	24.	LATE PAYMENTS 

 If monies owed to REGENTS under this Agreement are not received by
REGENTS when due, LICENSEE will pay to REGENTS interest charges at a rate of [ * ] per annum. Such interest will be calculated from the date payment was due until actually received by REGENTS. Such accrual of interest will be in addition to,
and not in lieu of, enforcement of any other rights of REGENTS related to such late payment. Acceptance of any late payment will not constitute a waiver under Article 25 (Waiver) of this Agreement. 

 

	25.	WAIVER 

 The failure of either party to assert a right hereunder or to insist upon
compliance with any term or condition of this Agreement will not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other party. None of the terms and conditions of this Agreement
can be waived except by the written consent of the party waiving compliance. 
  

	26.	CONFIDENTIALITY 

  

	 	26.1	Each party will secure and hold the other party’s proprietary business and technical information, patent prosecution material and other proprietary information, including the negotiated terms of this Agreement, in
confidence and against disclosure to third parties with at least the same degree of care as it exercises to protect its own data and license agreements of a similar nature. This obligation will expire [ * ] years after the termination or
expiration of this Agreement. 

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

Page 23 of 27 

	 	26.2	Nothing contained herein will in any way restrict or impair the right of LICENSEE or REGENTS to use, disclose, or otherwise deal with any information or data which: 

 

	 	(a)	at the time of disclosure to a receiving party is generally available to the public or thereafter becomes generally available to the public by publication or otherwise through no act of the receiving party;

  

	 	(b)	the receiving party can show by written record was in its possession prior to the time of disclosure to it hereunder and was not acquired directly or indirectly from the disclosing party; 

 

	 	(c)	is independently made available to the receiving party without restrictions as a matter of right by a third party; or 

  

	 	(d)	is subject to disclosure under the California Public Records Act or other requirements of law. 

  

	 	26.3	REGENTS will be free to release to the inventors and senior administrators employed by REGENTS the terms and conditions of this Agreement upon their request. If such release is made, REGENTS will inform such employees
of the confidentiality obligations set forth above and will request that they do not disclose such terms and conditions to others. Should a third party inquire whether a license to REGENT PATENT RIGHTS or JOINT PATENT RIGHTS is available, REGENTS
may disclose the existence of this Agreement and the extent of the grant in Articles 3 and 4 to such third party, but will not disclose the name of LICENSEE unless LICENSEE has already made such disclosure publicly, except where REGENTS is required
to release information under either the California Public Records Act or other applicable law, provided REGENTS gives prior written notice to LICENSEE of such disclosure. REGENTS can publicly identify LICENSEE’s corporate name and contact
information as an entity with which REGENTS has an agreement that involves the commercialization of technology developed at the University of California, Berkeley; however this exception does not cover other information about this AGREEMENT,
including INVENTIONS and INVENTORS, when used in association with LICENSEE’s name 

  

	 	26.4	LICENSEE and REGENTS agree to destroy or return to the disclosing party proprietary information received from the other in its possession within [ * ] days following the effective date of termination of this
Agreement. However, each party may retain one copy of proprietary information of the other solely for archival purposes in non-working files for the sole purpose of verifying the ownership of the proprietary information, provided such proprietary
information will be subject to the confidentiality provisions set forth in Article 26.1. LICENSEE and REGENTS agree to provide each other, within [ * ] days following termination of this Agreement, with a written notice that proprietary
information has been returned or destroyed. 

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

Page 24 of 27 

	27.	FORCE MAJEURE 

 Except for LICENSEE’s obligation to make any payments to REGENTS
hereunder (assuming that the ability of LICENSEE to recover revenue and make payments is unimpaired by the force majeure), the parties to this Agreement shall be excused from any performance required hereunder if such performance is rendered
impossible or unfeasible due to any catastrophes or other major events beyond their reasonable control, including, without limitation, war, riot, and insurrection; laws, proclamations, edicts, ordinances, or regulations; strikes, lockouts, or other
serious labor disputes; and floods, fires, explosions, or other natural disasters. When such events have abated, the parties’ respective obligations hereunder will resume. 

 

	28.	SEVERABILITY 

 The provisions of this Agreement are severable, and in the event that any
provision of this Agreement will be determined to be invalid or unenforceable under any controlling body of law, such invalidity or enforceability will not in any way affect the validity or enforceability of the remaining provisions hereof. 

 

	29.	APPLICABLE LAW AND VENUE 

 THIS AGREEMENT WILL BE CONSTRUED, INTERPRETED, AND APPLIED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, excluding any choice of law rules that would direct the application of the laws of another jurisdiction, but the scope and validity of any patent or patent application under REGENT PATENT RIGHTS
or JOINT PATENT RIGHTS will be determined by the applicable law of the country of such patent or patent application. Any legal action brought by the parties relating to this Agreement will be conducted in San Francisco, California. 

 

	30.	SCOPE OF AGREEMENT 

 This Agreement (except for the Confidentiality Agreement dated
April 16, 2013, which will continue to the extent it is not inconsistent with this Agreement) incorporates the entire agreement between the parties with respect to the subject matter hereof, and this Agreement may be altered or modified only by
written amendment duly executed by the parties hereto. 
  

	31.	HEADINGS 

 Section and subsection headings are inserted for convenience of reference only
and do not form part of this Agreement. 
  

	32.	COUNTERPARTS 

 This Agreement may be executed simultaneously in one or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  

	33.	ELECTRONIC COPY 

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

Page 25 of 27 

 The parties to this document agree that a copy of the original signature (including an electronic
copy) may be used for any and all purposes for which the original signature may have been used. The parties further waive any right to challenge the admissibility or authenticity of this document in a court of law based solely on the absence of
an original signature. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate originals by their duly authorized officers or
representatives. 
  

									
	THE REGENTS OF THE				ADURO BIOTECH INC
	UNIVERSITY OF CALIFORNIA						
					
	By		 /s/ Carol Mimura
				By		 /s/ Gregory W. Schafer

			Carol Mimura, Ph.D.						
			Assistant Vice Chancellor				Printed Name Gregory W. Schafer
			Office of Technology Licensing				Title		COO
					
	Date		10/6/2014				Date		26 September 2014

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

Page 26 of 27

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