Document:

EX-10.31

 Exhibit 10.31 

***Text Omitted and Filed Separately 

with the Securities and Exchange Commission 

Confidential Treatment Requested 

Under 17 C.F.R. Sections 200.80(b)(4) 

and 230.406 
 PATENT
SUBLICENSE AGREEMENT 
 This Patent License Agreement (the “Agreement”), dated December 27, 2013 (the
“Effective Date”), is hereby entered into by and between Industry 3200, Inc., a Delaware Corporation with a principal office located at 1155 Camino Del Mar #118, Del Mar, CA 92014 (“Sublicensor”), and BioNano Genomics, Inc., a
Delaware Corporation, having a principal place of business at 9640 Towne Centre Drive, Suite 100 (“Sublicensee) 

WHEREAS Sublicensor holds a patent license (the Master License Agreement) from the [...***...]
(“[...***...]”) to intellectual property identified as the [...***...] portfolio; and 
 WHEREAS
Sublicensor desires to grant and Sublicensee desires to receive a sublicense under certain of the rights granted by [...***...] to Sublicensor in the Master License Agreement; 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and in
consideration of the following mutual promises and covenants, the parties hereto agree as follows: 
  

	1.	 DEFINITIONS 

For purposes of this Agreement, the following terms shall have the meaning as set forth below: 

 

	 	1.1.	 “Affiliates” means a person or entity that directly or indirectly through one or more
intermediaries, controls, or is controlled by, Sublicensee. As used in this definition, the term “control,” including the correlative terms “controlling,” and “controlled by” means the possession, directly or
indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or any partnership or other ownership interest, by contractor otherwise) of a person or entity. 

 

	 	1.2.	 “Agreement Year” shall be a twelve (12) calendar month period beginning July 1 and ending
June 30 of the following year, except that the first Agreement Year shall begin on the Effective Date and shall end June 30, 2014. 

  

	 	1.3.	 “Licensed Patent” means US Patent No. [...***...], and any reexaminations and reissues
thereof. 

  

	 	1.4.	 “Patent Rights” means only [...***...] of the Licensed Patent. 

 

	 	1.5.	 “Licensed Field” shall be limited to the field of [...***...]. 

 

	 	1.6.	 “Licensed Territory” shall be limited to the United States. 

 

	 	1.7.	 

  

	 	1.8.	 “Master, License Agreement” means that license agreement entered into between [...***...] and
Sublicensor on [...***...], under which Sublicensor has received a license to the Patent Rights. 

  

	 	1.9.	 “Non-Commercial Research Purposes” shall mean the use of the
inventions of the Patent Rights and/or Improvements for academic research purposes or other not-for-profit or scholarly purposes not involving the use of the inventions
of the Patent Rights or Improvements to perform services for a fee or for the production or manufacture of products for sale to third parties. 

  

	 	1.10.	 “Products” shall refer to and mean any and all products sold for use in the Licensed Territory that
employ or are in any way produced by the practice of an invention claimed in a 

  
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Valid Claim of the Patent Rights or that would otherwise constitute infringement of any Valid Claim of the Patent Rights. 
  

	 	1.11.	 “Selling Price” shall mean, in the case of Products and Services that are sold or leased, the
[...***...] of Products and Services [...***...]. The “Selling Price” for a Product that is transferred or Service is provided to a third party for promotional purposes without charge or at a discount shall be [...***...]
of that type of Product or Service [...***...]. 

  

	 	1.12.	 “Services” shall refer to and mean any and all services performed in the Licensed Territory that
employ or are in any way produced by the practice of an invention claimed in a Valid Claim of the Patent Rights or that would otherwise constitute infringement of any Valid Claims of the Patent Rights. 

 

	 	1.13.	 “Third Party” means any person or entity other than [...***...], Sublicensor, Sublicensee, or
an Affiliate of either of them. 

  

	 	1.14.	 “Valid Claim” means an issued claim of the Patent Rights, where the claim (a) has not expired
or lapsed and (b) has not been held to be invalid or unenforceable by (i) a final judgment of a court of competent jurisdiction from which no appeal can be or is taken or (ii) a governmental authority having the jurisdiction to issue
or to review the validity of patent claims from which no appeal can be or is taken. 

  

	2.	 LICENSE 

  

	 	2.1.	 Nonexclusive License. Sublicensor grants to Sublicensee, and Sublicensee hereby accepts, a nonexclusive
right and license to practice the Patent Rights In the Licensed Territory and in the Licensed Field, with the right to make, have made, use, have used, import, export, market, distribute, offer for sale and sell Licensed Product, and to allow its
customers to use the same. Sublicensor grants no sublicense to any other claim or patent that Sublicensor has licensed under the Master License Agreement. 

  

	 	2.2.	 Sublicensing. Sublicensee shall have no right to further sublicense the rights granted hereunder,
except with the consent of Sublicensor, which consent shall not unreasonably be withheld in the case of a sale, merger, acquisition, with the intended recipient of such sublicense. In no event shall there be multiple concurrent sublicensees.

  

	 	2.3.	 Acknowledgement of Covenant not to Sue. Sublicensor acknowledges that in a separate Option Agreement,
[...***...] has granted Sublicensee a covenant not to sue under certain other intellectual property rights in the [...***...] portfolio. Sublicensor covenants to take no action to undermine, circumvent, interfere with or frustrate the
grant of such rights by [...***...] or the maintenance of such rights by Sublicensee. 

  

	3.	 FINANCIAL TERMS 

  
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	 	3.1.	 Sublicense Fees: As consideration for the grant and maintenance of this Agreement, Sublicensee shall
pay, and Sublicensor shall accept, a sublicense fee as follows: 

  

	 	3.1.1.	 $[...***...] within thirty (30) days of the full execution of this Agreement or of the Master
License Agreement, whichever is later. 

  

	 	3.1.2.	 $[...***...] on July 1 of the second Agreement Year. 

 

	 	3.1.3.	 $[...***...] on July 1 of the third Agreement Year. 

 

	 	3.1.4.	 $[...***...] on July 1 of the fourth Agreement Year. 

 

	 	3.1.5.	 $[...***...] on July 1 of the fifth Agreement Year. 

 

	 	3.1.6.	 $[...***...] on July 1 of each subsequent Agreement Year, if the term of this Agreement is extended
to include such Agreement Year. 

  

	 	3.2.	 Royalties: Sublicensee agrees to pay to Sublicensor as “earned royalties” a royalty
calculated as a percentage of the Selling Price of Products and Services in accordance with the terms and conditions of this Agreement. The royalty is deemed earned as of [...***...]. The royalty shall remain fixed while this Agreement is in
effect at a rate of [...***...] of the Selling Price of Products and Services., with the proviso that a minimum royalty payment (“Minimum Annual Royalty”) for each Agreement Year shall be [...***...]. In consideration of
Sublicensee being an early licensee of the inventions of the Patent Rights, [...***...] and Sublicensor agree that [...***...] Products sold, leased or otherwise transferred by Sublicensee that are [...***...] shall
[...***...]; provided, however, Sublicensee will report the sale, lease or transfer of such [...***...] Products on its [...***...], and thereafter, [...***...]. For clarity, the foregoing does not apply to any other Product
or sublicensee of Sublicensee. 

  

	 	3.3.	 Antistacking: If Sublicensee is required to pay royalties to one or more independent third parties
during any calendar year pursuant to a license or similar right in the absence of which Sublicensee could not legally make, use or sell Products, then the royalty payable hereunder will be reduced by [...***...] for each additional
[...***...] of royalties payable for all of the additional licensing components, to Sublicensor. Notwithstanding the foregoing, in no event shall the royalty due Sublicensor be reduced by more than [...***...]. 

 

	 	3.4.	 Royalty Payments: Royalty payments shall be due [...***...] following the end of the calendar
quarter ending on March 31, June 30, September 30, or December 31, and shall be accompanied by a royalty report indicating each Licensed Product and Net Sales for such Licensed Product, including the basis for calculating the
royalty. 

  

	 	3.5.	 Late Payments: The balance of any amounts owed to Sublicensor under this Agreement which remain unpaid
more than [...***...] after they are due to Sublicensor shall accrue interest until paid at the rate of the lesser of [...***...] per month or the maximum amount allowed under applicable law. However, in no event shall this interest
provision be construed as a grant of permission for any payment delays. 

  

	 	3.6.	 Records: Sublicensee agrees to keep [...***...] records to enable the ready determination of Net
Sales and any antistacking reduction in royalty pursuant to Section 

  
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3.3, and to provide such records within [...***...] of request by [...***...] or Sublicensor for inspection by a certified public accountant designated by Sublicensor or
[...***...], in the United States during Sublicensee’s regular business hours and at [...***...]’s or Sublicensor’s expense, but no more often than once per Agreement Year. If Sublicensee has claimed an antistacking
reduction in royalty pursuant to Section 3.3, certain underlying documentation will be revealed to the certified public accountant in confidence, but the certified public accountant shall not disclose the details revealed in such underlying
documentation to Sublicensor, but only conclusions drawn therefrom. In the event an examination of Sublicensee’s records reveals an underpayment of the lesser of [...***...] or [...***...] of the accurate amounts due hereunder,
Sublicensee shall pay all reasonable charges of the certified public accountant for the examination of records, in addition to paying the balance due within [...***...], plus interest thereon as set forth above. Sublicensee agrees to maintain
the records required hereunder for [...***...] after the last royalty period to which the records refer. 

  

	 	3.7.	 Currency: All payments to be made under this Agreement shall be made in U.S. dollars.

  

	4.	 TERM & TERMINATION 

 

	 	4.1.	 Unless otherwise terminated under any other provision of this Agreement, this Agreement shall expire on the
earlier of the end of the fifth (5th) Agreement Year or upon the termination of the Master License Agreement. 

 

	 	4.2.	 So long as the Master License Agreement is not terminated, Sublicensee may extend the termination date under
Section 4.1 in one year increments by making payment of the Sublicense Fee in Section 3.1.6 on or before July 1 of each subsequent Agreement Year, but in no event shall the termination date extend beyond the expiration or lapse of the
Patent Rights. 

  

	 	4.3.	 Sublicensee may terminate this Agreement at any time after the end of the fifth Agreement Year, with or
without cause, by providing ninety (90) days prior written notice to Sublicensor. 

  

	 	4.4.	 Either party may terminate this Agreement in the event of: (i) an uncured material breach by the other
party of a specified obligation or warranty under the Agreement and only upon sixty (60) days notice; or (ii) the other party is adjudged bankrupt, or subject to appointment of a receiver or trustee in bankruptcy, becomes insolvent, or
makes an assignment for the benefit of creditors. 

  

	 	4.5.	 If a party (the “breaching party”) at any time fails to observe or perform any of the material terms
of this Agreement, including but not limited to, the obligations to make any payment or royalty, the other party may make written demand that the breaching party remedy any such failure. If the breaching party does not remedy any such failure within
ninety (90) days following the other party’s demand, the other party by written notice may, at its option, terminate this Agreement. Upon timely remedy of a breach by either party, the Agreement shall remain in full force and effect. If a
party believes it has fully cured a noticed breach, but the extent of cure is subject to a bona fide dispute by the other non-breaching party, then the dispute shall be subjected to dispute resolution
hereunder. 

  

	 	4.6.	 Upon termination or expiration of the Agreement, duties and obligations incurred under the Agreement prior to
termination shall survive termination. Obligations of royalty payments, as well as causes of action or claims arising out of a breach or default under this Agreement, shall all survive termination. Sublicensee shall make a final accounting and
royalty payment to Sublicensor within thirty (30) days of the termination or expiration of this Agreement. 

  

	5.	 MUTUAL INDEMNIFICATION 

  
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	 	5.1.	 Sublicensee’s Right to Indemnification. Sublicensor shall indemnify, defend, and hold harmless
Sublicensee and its Affiliates, and their respective employees, officers, independent contractors, consultants, or agents, and their respective successors, heirs and assigns and representatives (the “Sublicensee lndemnitees”), from and
against any and all Third Party claims, threatened claims, damages, losses, suits, proceedings, liabilities, costs (including reasonable legal expenses, costs of litigation, and reasonable attorney’s fees) or judgments, whether for money or
equitable relief, of any kind (Losses and Claims), to the extent arising out of or relating to, directly or indirectly: (a) the negligence, recklessness, or wrongful intentional acts or omissions of Sublicensor, its Affiliates and its or their
respective employees, officers, independent contractors, consultants, or agents, in connection with Sublicensor’s performance of its obligations or exercise of its rights under this Agreement; and (b) any breach by Sublicensor of any
representation, warranty, covenant, or obligation set forth in this Agreement; except in any such case for Losses and Claims to the extent reasonably attributable to any recklessness, willful misconduct, or breach of this Agreement by Sublicensee or
a Sublicensee lndemnitee, or (c) resulting from Sublicensor’s production, manufacture, sale, use, lease, consumption or advertisement of Products and Services arising from any right or obligation of Sublicensor under the Master License
Agreement. 

  

	 	5.2.	 Sublicensor’s Right to Indemnification. Sublicensee shall indemnify, defend, and hold harmless
Sublicensor and its Affiliates, and their respective employees, officers, and their respective successors, heirs and assigns and representatives (the “Sublicensor lndemnitees”), from and against any and all Third Party claims, threatened
claims, damages, losses, suits, proceedings, liabilities, costs (including reasonable legal expenses, costs of litigation, and reasonable attorney’s fees) or judgments, whether for money or equitable relief, of any kind (Losses and Claims), to
the extent arising out of or relating to, directly or indirectly: (a) the negligence, recklessness, or wrongful intentional acts or omissions of Sublicensee, its Affiliates and its or their respective employees, officers, independent
contractors, consultants, or agents, in connection with Sublicensee’s performance of its obligations or exercise of its rights under this Agreement; and (b) any breach by Sublicensee of any representation, warranty, covenant, or obligation
set forth in this Agreement; except in any such case for Losses and Claims to the extent reasonably attributable to any recklessness, willful misconduct, or breach of this Agreement by Sublicensor or a Sublicensor lndemnitee; or (c) resulting
from Sublicensee’s production, manufacture, sale, use, lease, consumption or advertisement of Products and Services arising from any right or obligation of Sublicensee hereunder. 

 

	 	5.3.	 Process for Indemnification. A party’s obligation to defend, indemnify and hold harmless the other
party under this Section 5 (Mutual Indemnification) shall be conditioned upon the following: 

  

	 	(a)	 A party seeking indemnification under this Section 5 (the “lndemnitee”) shall give prompt
written notice of the claim to the other party (the “lndemnitor”). 

  

	 	(b)	 Each party shall promptly to the other party copies of all papers and official documents received in respect
of any Losses and Claims. The lndemnitee shall cooperate as requested by the lndemnitor in the defense against any Losses and Claims. 

  

	 	(c)	 The lndemnitor shall have the right to assume and control the defense of the indemnification claim at its own
expense with counsel selected by the lndemnitor and reasonably acceptable to the lndemnitee; provided, however, that an lndemnitee shall have the right to retain its own counsel, with the fees and expenses to be paid by the lndemnitee, if
representation of such lndemnitee by the counsel retained by the lndemnitor would be inappropriate due to actual or potential differing interests between such lndemnitee and any other party represented by such counsel in such proceedings. If the
lndemnitor does not assume the defense of the indemnification claim as described in this Section 5.3(c), the lndemnitee may defend the indemnification claim but shall have no obligation to do so. The lndemnitee shall not settle or compromise
the indemnification claim without the prior written consent of the lndemnitor, and the lndemnitor shall not 

  
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settle or compromise the indemnification claim in any manner which would have an adverse effect on the lndemnitee’s interests (including any rights under this Agreement or the scope or
enforceability of the Patent Rights or Confidential Information or other rights licensed to Sublicensee by Sublicensor hereunder), without the prior written consent of the lndemnitee, which consent, in each case, shall not be unreasonably withheld,
delayed, or conditioned. The lndemnitee shall reasonably cooperate with the lndemnitor at the lndemnitor’s expense and shall make available to the lndemnitor all pertinent information under the control of the lndemnitee. The lndemnitor shall
not be liable for any settlement or other disposition of Losses and Claims by the lndemnitee which is reached without the written consent of the lndemnitor, which consent shall not be unreasonably withheld, conditioned, or delayed.

  

	6.	 Insurance. 

Licensee warrants that it now maintains and will continue to maintain liability insurance coverage appropriate to the risk
involved in marketing the Products and Services subject to this Agreement and that such insurance coverage lists Sublicensor, [...***...] and the inventors of the Patent rights as additional insureds. Upon Sublicensor’s request, Licensee
will present evidence to Sublicensor that such coverage is being maintained. 
  

	7.	 TRANSFER OF RIGHTS 

Sublicensee shall have the right to transfer this Agreement to another entity that agrees to be bound by the provisions hereof,
with the prior written consent of [...***...] and prior written notification to Sublicensor. 
  

	8.	 CONFIDENTIALITY 

Confidential information of Sublicensee may be revealed to or ascertained by Sublicensor in the course of Sublicensee
performing under this Agreement, including in connection with royalty reports and associated records. “Confidential Information” shall include all information concerning a Sublicensee’s business and any other information marked
confidential or accompanied by correspondence indicating such information is confidentially exchanged between the parties hereto. Sublicensor agrees to keep confidential any information identified as confidential by Sublicensee, using methods at
least as stringent as Sublicensor uses to protect its own confidential information, and not to use any of Sublicensee’s Confidential Information to its advantage or Sublicensee’s detriment, including but not limited to using such
Confidential Information in Sublicensor’s patent prosecution. In like manner, Sublicensee and its employees shall maintain in confidence the terms of the Master License Agreement. The confidentiality and nonuse obligations set forth above apply
to all or any part of the Confidential Information disclosed hereunder except to the extent that: 

  
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	 	8.1.	 Sublicensor can show by written record that it possessed the information prior to its receipt from
Sublicensee; 

  

	 	8.2.	 the information was already available to the public or became so through no fault of Sublicensor;

  

	 	8.3.	 the information is subsequently publicly disclosed by Sublicensee or by a third party that has the right to
disclose it free of any obligations of confidentiality; 

  

	 	8.4.	 the information is required by law, rule, regulation or judicial process to be disclosed (if such requirement
arises, Sublicensor will, prior to any such disclosure, promptly notify Sublicensee and provide assistance in any reasonable effort to obtain confidential treatment with respect to such disclosure); or 

 

	 	8.5.	 [...***...] years have elapsed from the termination of this Agreement. 

 

	9.	 RIGHTS IN BANKRUPTCY. 

All rights and licenses granted under or pursuant to this Agreement by Sublicensor are, and shall otherwise be deemed to be,
for purposes of Section 365(n) of the United States Bankruptcy Code, licenses of right to “intellectual property” as defined under Section 91 of the United States Bankruptcy Code or any applicable foreign equivalent thereof. The
parties agree that the Sublicensee, as a licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the United States Bankruptcy Code. 

 

	10.	 RESOLUTION OF DISPUTES 

 

	 	10.1.	 Informal Dispute Resolution. The parties shall attempt, whenever possible, to discuss and resolve any
Disputes on an informal basis,. A party invoking these dispute resolution procedures shall deliver a notice to the other party (a “Dispute Notice”) of the claims it intends to bring and the relief sought, including sufficient details
regarding the factual, contractual or other legal bases for the party’s claim as reasonably required to enable the party receiving the Dispute Notice to evaluate the claim and respond thereto. 

Upon receipt of a Dispute Notice, the receiving party, if it so desires, shall have fifteen (15) days in which to deliver
its own Dispute Notice to the first party, responding to the first Dispute Notice and specifying additional Disputes, if any, to be resolved. After the second Dispute Notice is delivered or upon expiration of the fifteen (15) day period
therefor, whichever occurs first (the “Dispute Notification Deadline”), the parties shall promptly schedule one or more meetings to discuss and attempt in good faith to resolve all Disputes described in the Dispute Notice(s). Such meetings
shall be attended by the parties or their representatives with full authority to settle the Disputes at issue. 
  

	11.	 CONTEST OF VALIDITY 

 

	 	11.1.	 Sublicensee shall provide [...***...] at least [...***...] prior written notice before filing any
action that contests the validity of any Patent Rights during the term of this Agreement. 

	 	

	 	11.2.	 In the event that Sublicensee files any action contesting the validity of any Patent Rights, Sublicensee shall
pay a royalty rate of [...***...] specified in Section 3.2 or 3.3 of this Agreement, as applicable, for all Products and Services sold during the pendency of such action. Moreover, should the outcome of such contest determine that any
claim of the Patent Rights challenged is valid and would be infringed by a Licensed Product sold by 

  
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Sublicensee, if not for the Sublicensee granted by this Agreement, Sublicensee shall thereafter, for the remaining term of this Agreement, pay a royalty rate of [...***...] specified in
Section 3.2. or 3.3 of this Agreement, as applicable. 

  

	 	11.3.	 In the event that Sublicensee contests the validity of any Patent Rights during the term of this Agreement,
Sublicensee agrees to pay to Sublicensor all royalties due under this Agreement during the period of the challenge. For the sake of clarity, such amounts shall not be paid into any escrow or other account, but directly to Sublicensor, and shall not
be refunded. 

  

	12.	 PATENT MARKING 

Sublicensee shall mark all Products and Services or packaging thereof with the appropriate patent number reference in
compliance with the requirements of 35 U.S.C. §287. 
  

	13.	 USE OF NAMES 

Sublicensee shall not use [...***...]’s or Sublicensor’s name, the name of any inventor of the Patent Rights,
or the name of the [...***...] in sales promotion, advertising, or any other form of publicity without the prior written approval of the entity or person whose name is being used. 

 

	14.	 IMPROVEMENTS 

 

	 	14.1.	 Sublicensee hereby grants to [...***...] a nonexclusive, royalty-free, irrevocable, paid-up license, with the right to grant sublicenses to non-profit research institutions and governmental agencies, to practice and use “Improvements” for Non-Commercial Research Purposes. “Improvements” shall mean any patented modification of an invention claimed in the Patent Rights, invented by Sublicensee during the term of this Agreement, that
(1) would be infringed by the practice of an invention claimed in the Patent Rights; or (2) if not for the license granted under this Agreement, would infringe one or more claims of the Patent Rights 

	 	

	 	14.2.	 In the event that Sublicensee discontinues use or commercialization of the Improvements, Sublicensee shall
grant [...***...] an option to obtain a nonexclusive, royalty-bearing license, with the right to grant sublicenses, to practice and use said Improvements for commercial purposes; except for Improvements (1) that would not necessarily be
infringed by practicing an invention claimed in the Patent Rights or (2) that are capable of substantial noninfringing use. The scope of a sublicensee’s obligation relating to Improvements shall be limited to the claims actually licensed
to that sublicensee. Licensee shall provide [...***...] with written notice that Licensee and its sublicensee(s) intend to discontinue such use or commercialization immediately upon making a decision. [...***...]’s option with
respect to each Improvement shall expire [...***...] after [...***...]’s receipt of said written notice from Licensee. The failure of [...***...] to timely exercise its option under this paragraph shall be deemed a waiver of
[...***...]’s option, but only with respect to the Improvements so disclosed. 

	 	

	15.	 REPRESENTATIONS AND WARRANTIES 

 

	 	15.1.	 The Parties’ Representations and Warranties. Each party hereby represents and warrants to the
other party, as of the Effective Date, as set forth below: 

  

	 	15.1.1.	 Such party (a) is a corporation duly organized and subsisting under the laws of its jurisdiction of
organization, and (b) has full power and authority and the legal right to own and operate its property and assets and to carry on its business as it is now being conducted and as it is contemplated to be conducted by this Agreement.

  
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	 	15.1.2.	 Such party has the power, authority and legal right, and is free to enter into this Agreement and, in so
doing, will not violate any other agreement to which such party is a party as of the Effective Date, or conflict with the rights granted to any Third Party. 

  

	 	15.1.3.	 This Agreement has been duly executed and delivered on behalf of such party and constitutes a legal, valid,
and binding obligation of such party and is enforceable against it in accordance with its terms, subject to the effects of bankruptcy, insolvency, or other laws of general application affecting the enforcement of creditor rights and judicial
principles affecting the availability of specific performance and general principles of equity. 

  

	 	15.1.4.	 Such party has taken all corporate action necessary to authorize the execution and delivery of this Agreement.

  

	 	15.1.5.	 The execution and delivery of this Agreement and the performance of such party’s obligations hereunder
(i) do not conflict with or violate any requirement of applicable laws or any provision of the articles of incorporation, bylaws, limited partnership agreement, or any similar instrument of such party, as applicable, in any material way, and
(ii) do not conflict with, violate, or breach or constitute a default or require any consent under, any applicable laws or any contractual obligation or court or administrative order by which such party is bound. 

 

	 	15.1.6.	 The parties acknowledge that [...***...] makes no representations, extends no warranties of any kind,
either express or implied, and assumes no responsibilities whatsoever with respect to the use, sale, or other disposition by Sublicensee or its vendees or other transferees of Products and Services incorporating or made by use of the Patent Rights.

  

	 	15.2.	 Sublicensor’s Representations, Warranties and Covenants. Sublicensor hereby represents, warrants
and covenants to Sublicensee, as set forth below: 

  

	 	15.2.1.	 It is the licensee of the Patent Rights from [...***...] and it possesses all rights necessary to grant
the sublicenses contained in this Agreement; 

  

	 	15.2.2.	 It has not previously granted, and will not grant, any right, license or interest in the Patent Rights, or any
portion thereof, inconsistent with the rights and licenses granted to Sublicensee herein; 

  

	 	15.2.3.	 It is not aware of any pending or threatened litigation, nor has it received any written communications,
alleging that that the commercialization of the Products and/or Services or of any compound or product claimed in any Patent Rights would violate any intellectual property or other rights of any Third Party or that the Patent Rights are invalid or
unenforceable; 

  

	 	15.2.4.	 as of the Effective Date, no Third Party has any interest in and to any of the Patent Rights;

  

	16.	 LIMITATION OF LIABILITY AND EXCLUSION OF DAMAGES; DISCLAIMER OF WARRANTY. 

 

	 	16.1.	 WITHOUT LIMITING THE PARTIES’ OBLIGATIONS UNDER SECTION 14 (REPRESENTATIONS AND WARRANTIES), NEITHER
PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES (INCLUDING DAMAGES RESULTING FROM LOSS OF USE, LOSS OF PROFITS, INTERRUPTION OR LOSS OF BUSINESS, OR OTHER ECONOMIC LOSS) ARISING OUT OF
THIS AGREEMENT OR WITH RESPECT TO A PARTY’S PERFORMANCE OR NON-PERFORMANCE HEREUNDER. 

  
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	 	16.2.	 EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY PROVIDES ANY REPRESENTATIONS OR WARRANTIES,
WHETHER WRITTEN OR ORAL, EXPRESS OR IMPLIED, REGARDING THE LICENSE PRODUCTS, AND EACH PARTY HEREBY DISCLAIMS ALL OTHER REPRESENTATIONS OR WARRANTIES, WHETHER WRITTEN OR ORAL, EXPRESS AND IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, AND FREEDOM FROM INFRINGEMENT OF THIRD PARTY RIGHTS. THE PARTIES AGREE THAT SUBLICENSEE IS UNDER NO OBLIGATION TO MAKE ANY EFFORTS TO COMMERCIALIZE OR EXPLOIT THE PATENT RIGHTS, AND SUBLICENSOR EXPLICITLY DISCLAIMS
ANY SUCH OBLIGATION. 

  

	17.	 GENERAL PROVISIONS 

 

	 	17.1.	 Governing Law. 

 

	 	17.1.1.	 This Agreement shall be governed by and interpreted in accordance with the substantive laws of the State of
California, U.S. without regard to its or any other jurisdiction’s choice of law rules that would result in the application of the laws of any state other than the State of California, U.S. All questions concerning the construction or effect of
patent applications and patents shall be decided in accordance with the laws of the country in which the particular patent application or patent concerned has been filed or granted, as the case may be. 

 

	 	17.1.2.	 Sublicensor and Sublicensee hereby submit to the exclusive jurisdiction of the state and federal courts
located in San Diego, California, U.S. for any action or proceeding arising out of or relating to this Agreement, and Sublicensor and Sublicensee hereby agree that all claims in respect of such action or proceeding may be heard and determined
exclusively in any such state or federal court, and the parties hereby irrevocably submit to the exclusive jurisdiction of such courts in any such action or proceeding and irrevocably waive the defense of an inconvenient forum to the maintenance of
any such action or proceeding. A final judgment in any action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 

 

	 	17.2.	 Legal Counsel; Cooperation in Drafting. Each party recognizes that this is a legally binding contract
and acknowledges and agrees that they have had the opportunity to consult with legal counsel of their choice concerning the legal and practical effects of this Agreement. Each party has cooperated in the drafting, negotiation and preparation of this
Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such language. 

	 	

	 	17.3.	 Notices. All communications hereunder shall be in writing, electronic mail or by confirmed fax, and
shall be deemed to have been duly given (a) upon personal delivery, (b) upon deposit with a recognized courier with next-day delivery instructions, or (c) one (1) business day after sending, if
sent by electronic mail and no delivery failure notification has been received; to the address set forth below or such other address as either party may specify by notice sent in accordance with this Section 16.3 (“Notices”):

 If to Sublicensor, addressed to:  Industry 3200 Inc. 

Attn: [...***...] 

1155 Camino Del Mar #118 

Del Mar, CA 92014 

Email: [...***...] 

  
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 With a copy to: 

CapialP 

Attn: [...***...] 

11011 Torreyana Road 

San Diego, CA 92121 

Email: [...***...] 

If to Sublicensee, addressed to: 

BioNano Genomics, Inc. 

Attention: President 

9640 Towne Centre Drive, Suite 100 

San Diego, CA 92121 

With a copy to: 

Knobbe Martens Olson & Bear 

Attention: [...***...] 

12790 El Camino Real 

San Diego, CA 92130 

11.3. Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the
subject matter hereof and supersedes all prior agreements and understandings relative thereto. The provisions of this Agreement shall be modified only by an agreement in writing signed by both parties hereto. 

11.4. No Waiver. The failure of any party to enforce any of the provisions of this Agreement shall not be construed to
be a waiver of the right of such party thereafter to enforce such provisions. 
 11.5. Binding on Successors. This
Agreement shall be binding upon the parties, their affiliates, agents, successors and assigns. 
 11.6. Severability.
In the event any provision of this Agreement is invalid or unenforceable or is prohibited by law, the remaining provisions of this Agreement shall remain in full force and effect, and the remainder of this Agreement shall be valid and binding as
though such invalid, unenforceable, or prohibited provision were not included herein. 
 11.7. Attorneys’ Fees.
If any legal action or any arbitration or other proceeding is brought for the enforcement of this Agreement, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Agreement, the
successful and/or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees and other costs incurred in that action or proceeding, including expert witness fees, in addition to any other relief to which it or they may
be entitled. 
 11.8. Equitable Relief. The parties acknowledge that any breach or violation of the confidentiality
terms of this Agreement will result in immediate and irreparable damage to the non-breaching party and that there would be no adequate remedy at law for either party’s failure to comply with the terms of this Agreement. Each party acknowledges
that the other is entitled to equitable relief, including a preliminary and/or permanent injunction and such other relief as a court with jurisdiction may deem proper, to prohibit any further or continuing breach or failure to comply with the
confidentiality terms of this Agreement. 

  
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 11.9. Headings. The paragraph headings herein are for convenience only and
shall not be interpreted to limit or affect in any way the meaning of the language contained herein. 
 11.10.
Confidentiality. This Agreement and the terms thereof shall be treated as confidential information of the parties, and, without the consent of the other two parties, shall not be disclosed to entities that are not party to this Agreement and
are not evaluating a party for potential investment or acquisition. A party may disclose the terms of this Agreement, without consent, to entities evaluating a party for potential investment or acquisition, provided that such entities agree to keep
the terms of this Agreement confidential. 
 IN WITNESS WHEREOF, the parties hereto, being authorized to sign on behalf of
the entity for which they are signing and with full authority to bind such entity by that signature, have caused this Agreement to be executed as of the date first set forth above. Each copy hereof for all purposes shall be deemed an original. 

 

									
	SUBLICENSOR	 		 	SUBLICENSEE
					
	By:	 	/s/ Leslie A. Hickle	 		 	By:	 	/s/ R. Erik Holmlin

									
					
	Printed Name:	 	Leslie A. Hickle	 		 	Printed Name:	 	R. Erik Holmlin

									
			
	Title: Co-Founder & CBO	 		 	Title: CEO
					
	Dated:	 	Jan 7, 2014	 		 	Dated:	 	9-Jan-2014

  
 12 lndustry3200 -BioNano
Genomics SublicenseEX-10.32

 Exhibit 10.32 

***Text Omitted and Filed Separately 

with the Securities and Exchange Commission 

Confidential Treatment Requested 

Under 17 C.F.R. Sections 200.80(b)(4) 

and 230.406 
 NON-EXCLUSIVE PATENT LICENSE AGREEMENT 
 This non-exclusive
patent license agreement (“Agreement”), by and between Q Biotechnology C.V. (“Licensor”), a Dutch company with a place of business at Spoorstraat 50, 5911 KJ Venlo, the Netherlands and BioNano Genomics, Inc
(“Licensee”), a Delaware (USA) corporation with a place of business at 9640 Town Centre Drive, Suite 100, San Diego, CA 92121, USA is made effective as of May 1st, 2014
(“Effective Date”). 
 WHEREAS, Licensor is responsible for the
out-licensing business of the QIAGEN Group and exploits QIAGEN Group’s owned and licensed intellectual property by out-licensing intellectual property including
marketing intellectual property rights and product related intellectual property and is authorized to enter into this Agreement; and 

WHEREAS, Licensee desires to obtain a license under the Patent Rights upon the terms and conditions set forth herein, and
Licensor desires to grant such a license; and 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual
covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 
  

	1.	 DEFINITIONS. 

“Affiliate” of a Party shall mean any corporation or business entity (i) of which more than fifty percent
(50%) or more of the securities or other ownership interests representing the equity, the voting stock or general partnership interests are owned, controlled or held, directly or indirectly, by such Party; (ii) which directly or indirectly,
owns, controls or holds more than fifty percent (50%) or more of the securities or other ownership interests representing the equity, the voting stock or, if applicable, the general partnership interests, of such Party; or (iii) of which more
than fifty percent (50%) or more of the securities or other ownership interests representing the equity, the voting stock or general partnership interests are owned, controlled or held, directly or indirectly, by a corporation or business entity
described in (i) or (ii). 
 “Calendar Quarter” shall mean the respective periods of three
(3) consecutive calendar months ending on March 31, June 30, September 30, and December 31. 

“Combined Product” shall mean combined products consisting of Royalty Product(s) and other products. 

“Commercial Sale” shall mean the Net Sales invoicing of Royalty Products (hereinafter defined) to a third
party. 
 “Companion Diagnostic(s)” and “Companion Diagnostic use” as the context
requires, shall mean the use of Licensed Technology in Royalty Product(s) [...***...] for [...***...]. Companion Diagnostics specifically excludes [...***...]. 

  
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 “Confidential Information” shall mean all information received
by a Party from the other Party pursuant to this Agreement and any prior signed Non-Disclosure Agreement between the Parties still in effect at the Effective Date. 

“Diagnostic(s)” and “Diagnostic use” as the context requires, shall mean the use of Royalty
Product(s) for [...***...] within the Field whether as part of an FDA-approved assay (or an equivalent approval from foreign regulatory agencies) or under research use. 

“Distributor” shall mean any distributor, reseller, dealer, sales representative, or authorized service
provider, as applicable, of Licensee or its Affiliates that offers to sell or sells Royalty Products in the Territory. 

“Economic End Use” shall have the meaning given in the definition of Net Sales. 

“Effective Date” shall have the meaning given in the first paragraph of this Agreement, provided timely
payment of all fees due and payable on the Effective Date. 
 “Field” shall mean [...***...] in the
Research Field. 
 “First Commercial Sale” shall mean the first time the Licensee or its Affiliates
transfers a Royalty Product to an independent Third Party 
 “License Fee” shall have the meaning given in
Section 3.1. 
 “Licensed Technology” shall mean any technology described by a Valid Claim in the
Patent Rights. 
 “List Price” shall mean the non-discounted price
of a product or service sold by Licensee, its Affiliates or Distributors as listed in a product/service catalog for a bona fide sale made to an end-user in an arms-length transaction. 

“Net Sales” shall mean [...***...] (“Economic
End-Use”). For 

  
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clarity, [...***...] shall not be considered an Economic End Use and no royalty shall be due on Royalty Products used for such purpose. For purposes of calculating Net Sales,
[...***...]. Under any circumstances, revenue received from the sale or transfers of Royalty Products by Licensee, its Affiliates, or Distributors for an Economic End-Use shall give rise to a
[...***...] royalty payment to Licensor [...***...]. 
 In the case Licensee is unable to account for end-user sales by any distributor, the Net Sales shall be calculated as [...***...]. 

“OEM Sales” shall mean [...***...]. 

“Own Company Label” shall mean providing on the product or product label only the Licensee’s own company
name, logo, slogans or brand. 
 “Party” or “Parties”, as the context requires, shall mean
Licensee and/or Licensor. 
 “Patent Rights” shall mean any and all claims in any of the patent
applications and/or patents listed in Schedule 1, any foreign equivalents thereof, and any divisions, continuations, continuations-in-part, reissues, renewals,
extensions and the like of the foregoing. [...***...] (the “Original License”). 
 “Research
Field” shall mean [...***...] 
 “Research Service” shall mean [...***...] 

“Royalty Product(s)”, shall mean a kit designed, developed, manufactured, or sold by Licensee or its
Affiliates or its Distributors comprising “Licensed Technology” for use in the “Field”; in each case the design, development, manufacture, use, sale, offer for sale, provision, or import of which would be, but for the License, an
infringement of a Valid claim of the Patent Rights. 
 “Term” shall have the meaning given in
Section 5.1. 
 “Territory” shall mean all of the countries in the world at any given time. 

“Third Party” shall mean any individual or entity other than Licensee or Licensor or Affiliates of either.

  
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 “Valid claim” shall mean any claim of an issued and unexpired
patent, which patent is included within the Patent Rights, on a country-by-country-basis, which claim has not been held invalid, unpatentable or otherwise unenforceable
by a court from which no appeal has or can be taken. 
  

	2.	 GRANT OF
RIGHTS. 

 2.1 License Grant to
Licensee. 
 (a) Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee and
its Affiliates on the Effective Date, a non-exclusive, royalty-bearing, non-sublicenseable (except for end-user licenses), and
non-transferable license to make, have made, sell, have sold, use and import the Royalty Product(s) within the Field in the Territory solely under Licensee’s Own Company Label. [...***...]. 

(b) Upon payment of the Diagnostic Use Option Fee (as defined in section 3.3 below), Licensor shall grant to Licensee
and its Affiliates a non-exclusive, royalty-bearing, non-sublicenseable (except for end-user licenses), and non-transferable
license to extend the license grant of section 2.1 (a) to cover Diagnostic Use. [...***...] 
 (c) Upon payment
of the Companion Diagnostic Use Option Fee (as defined in section 3.4 below), Licensor shall grant to Licensee and its Affiliates a non-exclusive, royalty-bearing, non-sublicenseable (except for end-user licenses), and non-transferable license to extend the license grant of section 2.1 (a) to cover Companion Diagnostic Use. [...***...] 

2.2 Distributors. Notwithstanding the foregoing, Licensee may sell Royalty Product(s) to end users through
distributors of Licensee and of its Affiliates, as long as Licensee reports and pays royalties on the Net Sales of such Royalty Product sales to end users. 

2.3 Exclusion of OEM Sales. The License under Section 2.1 does not include the right for Licensee to make,
sell, have sold, use and import the Royalty Product(s) in connection with OEM Sales. 
 2.4 Reporting of
Unlicensed Activities. Licensee agrees that once it is notified by Licensor that, or once it independently becomes aware that, a particular purchaser is using or intends to use any Royalty Product(s) other than as permitted hereunder, Licensee
shall immediately notify said purchaser in writing that such use is unlicensed and that a license for said use must be obtained from Licensor. Licensee shall also require sublicensed Affiliates, and Distributors to report to Licensor any unlicensed
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further agrees that continued or resumed sales by Licensee, a sublicensed Affiliate, or a Distributor, to a particular purchaser of which Licensee was previously notified or is otherwise aware is
violating Patent Rights shall constitute a breach under Section 5.2 (b) of the Agreement. A written certification by a Distributor or purchaser which is executed by an officer of said Distributor or purchaser which officer may legally bind the
company, that it has ceased infringing the Patent Rights, and/or, alternatively, that it does not infringe said Patent Rights, or a written certification by Licensee which is executed by an officer of Licensee which officer may legally bind Licensee
that sales to such Distributor or purchaser have ceased, shall be a cure under Section 5.2. (b) Licensee shall provide to Licensor a copy of each of its notices to Customers pursuant to this Section. 

2.5 No Implied Rights. This Agreement shall not provide either Party with any rights except those expressly
granted herein. Licensor shall retain title to the Licensed Technology. This Agreement shall not be construed as a sale, lease, loan, assignment, or transfer of Licensor’s intellectual property rights. The License does not permit Licensee, its
Affiliates, Distributors, nor Manufacturers to sell, lease, assign, or otherwise transfer the rights granted under this Agreement to anybody. 
  

	3.	 LICENSE AND MILESTONE FEES. 

3.1 License Fee. In consideration for the non-exclusive license described
in Section 2.1 Licensee shall pay to Licensor a non-refundable, non-creditable fee in the amount of US Dollars [...***...] (the “License
Fee”). The License Fee shall be paid within [...***...] after the Effective Date. 
 3.2 Milestone
Fees. 
 (a) For the commercial launch of the first Royalty Product Licensee shall pay to Licensor a non-refundable, non-creditable milestone fee in the amount of US Dollars [...***...]. The milestone shall be paid within [...***...] days after the commercial
launch. 
 (b) For the commercial launch of the first Royalty Product that provides insights to human genetic
information Licensee shall pay to Licensor a non-refundable, non-creditable milestone fee in the amount of US Dollars [...***...]. The milestone shall be paid
within [...***...] after the commercial launch. 
 3.3 Diagnostic Use Option. In consideration for the non-exclusive license described in Section 2.1 Licensee shall pay to Licensor [...***...] fee in the amount of US Dollars [...***...] (the “Diagnostic Use Option Fee”). US Dollars
[...***...] of such fee shall be paid within [...***...] after the exercising the option and the remaining US Dollars [...***...] shall be paid within [...***...] after the First Commercial Sale of the first Royalty Product
for “Diagnostic Use” 
 3.4 Companion Diagnostic Use Option. In consideration for the non-exclusive license described in Section 2.1 Licensee shall pay to Licensor a non-refundable, non-creditable 

  
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fee in the amount of US Dollars [...***...] (the “Companion Diagnostic Use Option Fee”). US Dollars [...***...] of such fee shall be paid within [...***...] days after
the exercising the option and the remaining US Dollars [...***...] shall be paid within [...***...] after the First Commercial Sale of the first Royalty Product for “Companion Diagnostic Use” 

 

	4.	 ROYALTIES. 

4.1 Royalties. 

(a) Running Royalty. As consideration for the grant of the License, Licensee shall pay to Licensor a royalty of
[...***...] of any and all Net Sales of Royalty Products. 
 (b) Withholding Tax. Any payments made by Licensee to
Licensor under this Agreement shall be free and clear of any taxes, duties, levies, fees or charges, and such amounts shall be reduced by the amount required to be paid or withheld pursuant to any applicable law (“Withholding
Taxes”). Any such Withholding Taxes required by law to be paid or withheld shall be an expense of, and borne solely by, Licensor. Licensee, as applicable, shall submit to Licensor reasonable proof of payment of the Withholding Taxes,
together with an accounting of the calculations of such taxes, within [...***...] after such Withholding Taxes are remitted to the proper authority. The Parties will cooperate reasonably in completing and filing documents required under the
provisions of any applicable tax laws or under any other applicable law in connection with the making of any required tax payment or withholding payment, or in connection with any claim to a refund of or credit for any such payment. 

(c) Payment terms. Royalties shall be payable within [...***...] after the end of the Calendar Quarter in which Royalty
Products were sold by Licensee, its Distributors and/or any Third Party. Licensee shall make royalty payments to Licensor in US Dollar (USD). 

4.2 Royalty Reports. Commencing with respect to the Calendar Quarter in which the sale of the first unit of or provision of the
first service component of Royalty Products takes place, and continuing throughout the Term, Licensee shall furnish to Licensor a written report for each Calendar Quarter showing (a) the number of units of Royalty Products sold or amount of
services of Royalty Products provided by Licensee or its Affiliates (or treated as sold or provided under this Agreement or transferred to a Distributor for sale) during the Calendar Quarter, total gross invoice or total sales price (as applicable),
and Net Sales by country in the local currency with conversion into US Dollar. The exchange rates employed must be those quoted by a reputable, nationally recognized source, such as a recognized money center bank such as JP Morgan, Bank of
America or an equivalent, OANDA.com, or the Wall Street Journal. Exchange rates and the sources employed shall be included with the royalty report; (b) the amount of the royalties payable under this Agreement; and (c) if the
[...***...] approach is applied (identified in the “Net Sales” definition), then in reasonable detail, the calculation or formula used to determine the fair market value of the Royalty Products for the given Calendar Quarter. The
sales information for Licensee’s Affiliates shall be set out separately for each Affiliate by name of each such entity. Reports shall be due within [...***...] after the end of the Calendar Quarter being reported. Licensee shall keep
complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined, and Licensee shall retain the records for a period of [...***...] from the date a royalty report is provided to Licensor. 

  
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 4.3 Audits. 

(a) Independent Auditor. Upon Licensor’s written request, Licensee shall permit an independent certified
public accounting firm of nationally recognized standing and/or an attorney selected by Licensor to have access during normal business hours to such of the records of Licensee or its Affiliates as may be reasonably necessary to verify the accuracy
of the royalty reports hereunder. If requested by Licensor, Licensee shall make such records available at the premises of Licensee. Such audit will be conducted by an auditor and/or attorney that will be obligated to keep confidential
Licensee’s and its Affiliates’ financial records and other information. The amounts charged by such accounting firm and/or attorney in connection with such audit shall be borne by Licensor unless a discrepancy as described in
Section 4.3(b) is found. Professional advisors shall have a right to examine all materials, data, and information collected by or generated by the accountant and/or attorney during the course of their review, but only as may be relevant for the
purpose of verifying the accuracy of amounts owed and paid under this Agreement. On request Licensor shall make a copy of the report available to Licensee. Licensor shall be able to use this information for the purpose of recovering any funds due
under this Agreement, either in a negotiation, an alternative dispute resolution proceeding, or a court proceeding. 

(b) Discrepancy; Interest. 

(i) Discrepancy. If such accounting firm and/or attorney identifies a discrepancy in Licensor’s favor
during such period, i.e., Licensee has underpaid a royalty owed to Licensor, Licensee shall make payment to Licensor in the amount of such discrepancy, plus interest as calculated in Section 4.3(b)(ii), within [...***...] of the date
Licensor delivers to Licensee such accounting firm’s or attorney’s written report, or as otherwise mutually agreed by the Parties. In the event of such discrepancy of more than [...***...] of the royalty due in Licensor’s favor
and subject to a minimum amount of US Dollar [...***...] in royalties, Licensee will pay the costs of the audit within [...***...] of receipt from Licensor of a copy of the invoice for such audit from the accounting firm. 

(ii) Interest on Late Royalty. In the event that Licensee owes a royalty to Licensor under
Section 4.3(b)(i), interest at the rate of [...***...] above the interest rate of the European Central Bank (“base rate”) or such lesser rate that is the maximum rate allowable under applicable law) from the due date
until the date of full payment thereof shall be added to the discrepancy owed by Licensee to Licensor. 
 4.4
Payments. 
 Transactions from Licensee to Licensor under this Agreement shall be made by wire transfer to: 

  
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 BANK NAME: [...***...] 

BENEFICIARY NAME: [...***...] 

IBAN: [...***...] 

BIC: [...***...] 
  

	5.	 TERM AND TERMINATION. 

5.1 Term. This license is granted to Licensee as of the Effective Date and will expire upon the expiration of the
last to expire of the patents within Patent Rights, unless terminated earlier in accordance with this Agreement, in which case the period of the term shall end at the date of termination. 

5.2 Termination by Licensor. Licensor may terminate this Agreement as follows: 

(a) Insolvency. Upon thirty (30) days written notice if, at any time, Licensee shall file a petition for
bankruptcy or insolvency or similar procedure, or if Licensee shall be served with an involuntary petition for bankruptcy or the like against it, filed in any insolvency proceeding, or if Licensee shall propose or be a party of any dissolution or
liquidation procedure. 
 (b) Breach. Upon any material breach or default under this Agreement by Licensee or
an Affiliate sublicensed by Licensee, including the failure to pay any money owed under this Agreement, this Agreement may be terminated by Licensor upon thirty (30) days written notice to Licensee. Said notice shall become effective at the end
of the thirty-day period, unless during said period Licensee fully cures such breach or default and notifies Licensor of such cure. 

(c) Change of Control. Immediately upon a change in control of Licensee (control means the holding of greater
than fifty percent (50%) of (i) the capital and/or (ii) the voting rights and/or (iii) the right to elect or appoint directors) without the prior written consent of Licensor, which consent may be withheld at Licensor’s sole
discretion with the exception to a one-time event as agreed in section 8.1. Failure by Licensor to respond, within thirty (30) calendar days of receipt of a written request for consent to a change in
control shall be deemed consent by Licensor. For the purpose of clarification, any internal restructuring measures within the corporate group of Licensee, or a public offering of its stock, or trading in its stock subsequent to a public offering,
resulting in a change in control shall not entitle Licensor to a termination hereunder nor trigger the assignment fee in section 8.1. 

(e) Loss of disposal rights regarding Licensed Patents. Upon the termination of the Original License for
whatever reason and the resulting loss of disposal rights of Licensor regarding the Licensed Patents, this Agreement may be terminated by Licensor upon thirty (30) days written notice to Licensee. 

5.3 Termination by Licensee. Licensee may terminate this Agreement as follows: 

(a) Notice. Licensee may terminate the Agreement upon ninety (90) days written notice to Licensor. 

5.4 Consequences of Termination 

  
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 (a) Upon termination of this Agreement as provided herein, Licensee shall
stop, and shall cause its Affiliates to stop, selling Royalty Products and all rights and licenses granted to Licensee by Licensor hereunder and all sublicenses granted by Licensee shall automatically terminate. Notwithstanding the foregoing, and
upon termination of this Agreement for reasons other than pursuant to either of Sections 5.3, Licensee and its Affiliates shall have the right to continue selling, for a period of time not to exceed [...***...] following the effective date of
termination of this Agreement, those Royalty Products manufactured prior to the effective date of termination of this Agreement. 

(b) Licensee’s obligations to report to Licensor and to pay royalties as to the sale of Licensed Product hereunder
pursuant to the Agreement prior to termination or expiration of the Agreement shall survive such termination or expiration. 

(c) In the event of any termination of this Agreement, Licensee shall within [...***...] of said termination,
provide a written notice on the area(s) of its website pertaining to Licensed Products that Licensee is no longer licensed under Patent Rights. 
  

	6.	 ENFORCEMENT OF PATENTS.

 6.1 Licensee shall advise Licensor promptly upon its becoming aware of infringement by a third
party or parties of a patent within Patent Rights in the Territory. All decisions and rights to enforce Patent Rights against infringing third parties reside with Licensor, and nothing in this Agreement shall be construed to require Licensor to take
any action to address any infringement or potential infringement or to otherwise enforce the Patent Rights. 
  

	7.	 CONFIDENTIALITY; PUBLICITY

 7.1 Each Party shall (i) maintain the terms of this Agreement and any information exchanged
in connection with this Agreement (“Confidential Information”) in confidence during and for a period of [...***...] after the termination or expiration of this Agreement, (ii) shall limit dissemination to those of its and
its Affiliates’ employees who require such Confidential Information in order to perform this Agreement and (iii) shall not disclose such Confidential Information to any other person or entity, and (iv) shall use such Confidential
Information only to the extent necessary to perform this Agreement. Notwithstanding any other provision of this Agreement, Confidential Information shall not include any item of information which: (a) is within the public domain prior to the
time of the disclosure by the disclosing Party or thereafter becomes within the public domain other than as a result of disclosure by the receiving Party or any of its representatives in violation of this Agreement; (b) was, on or before the
date of disclosure in the possession of the receiving Party, as evidenced by records, however maintained; (c) is acquired by the receiving Party from a third party having the right to disclose without burden of confidentiality; (d) is
hereafter independently developed by the receiving Party, as evidenced by records, however maintained; or (e) the receiving Party is required to disclose by law or by any administrative agency or is compelled to disclose by order of a court of
competent jurisdiction, provided that such disclosure is subject to all applicable governmental or judicial protection available for like material and reasonable advance notice is given to the other Party. 

  
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	8.	 ASSIGNMENT/TRANSFERABILITY.

 8.1 Assignment by Licensee. The rights to be granted hereunder are specific to Licensee
and shall not be assigned, sublicensed, or otherwise transferred by Licensee to any other party, without the prior written consent by Licensor. However, Licensor consents to a one-time assignment by Licensee
if Licensee merges, consolidates, or transfers all or substantially all of its assets to a Third Party during the Term of this Agreement, which assignment shall be subject to a one-time assignment fee of
US Dollar [...***...] paid by Licensee to Licensor. 
 8.2 Assignment by Licensor. Licensor may
assign all or any part of its rights and obligations under this Agreement at any time without the consent of Licensee. Licensee agrees to execute such further acknowledgments or other instruments as Licensor may reasonably request in connection with
such assignment. 
  

	9.	 REPRESENTATIONS; WARRANTIES; NEGATION
OF WARRANTIES. 

 Licensor represents
and warrants that: 
 (a) Licensor is not aware that any third party is misappropriating, infringing, diluting, or
violating the Patent Rights and no such claims have been brought against any third party by the Licensor. 
 (b) No
patent or patent application under the Patent Rights is involved in any interference, reissue, re-examination or opposition proceeding and no such action has been threatened with respect to any such patent or
patent application. 
 (c) Except for the representations and warranties provided in this Section 9, or
otherwise expressly provided in this Agreement, Licensor makes no representations and warranties of any kind or any nature, whether expressed or implied and declines any liability therefrom. In particular Licensor does neither warrant freedom to
operate under third-party intellectual property nor that no other intellectual property may be necessary to fully commercialize the Royalty Products in the Territory. 
  

	10.	 GENERAL. 

10.1 Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of Germany,
excluding the provisions of conflicts of laws. Any disputes arising out of or in connection with this Agreement shall be settled by the competent court at Düsseldorf, except as to any issue which depends upon the validity, scope or
enforceability of any patent within Patent Rights which issue shall be determined in accordance with the laws of the territory in which such Patent Rights exist. 

10.2 Severability. Should any provision of this Agreement be or become invalid, ineffective or unenforceable as
a whole or in part, the validity, effectiveness and enforceability of the remaining provisions shall not be affected thereby. Any such invalid, ineffective or unenforceable provision shall, to the extent permitted by law, be deemed replaced by such
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effective and enforceable provision as comes closest to the economic intent and purpose of such invalid, ineffective or unenforceable provision. The aforesaid shall apply mutatis mutandis to any
gap in this Agreement. 
 10.3 No Waiver of Rights. No failure or delay on the part of either Party in the
exercise of any power or right hereunder shall operate as a waiver thereof. No single or partial exercise of any right or power hereunder shall operate as a waiver of such right or of any other right or power. The waiver by any Party of a breach of
any provision of this Agreement shall not operate or be construed as a waiver of any other or subsequent breach hereunder. 

10.4 Survival. Sections 7, 9 and 10 shall survive any termination or expiration of the Agreement. 

10.5 Amendments. Any changes or modifications of this Agreement, including a waiver of the written form, must be
made in writing. 
 10.6 Notices. Any notice to be given under this Agreement must be in writing and delivered
either in person, by any method of mail (postage prepaid) requiring return receipt, by nationally recognized overnight courier requiring signature upon delivery, or by facsimile confirmed thereafter by any of the foregoing methods, to the Party to
be notified at its address(es) given below, or at any address any such Party has previously designated by prior written notice to the other Party. Notice shall be deemed sufficiently given for all purposes upon date of actual receipt. 

 

	 	(a)	 If to Licensor 

Q Biotechnology C.V. 

Attn: Sebastian Swienty 

Spoorstraat 50 

5911 KJ Venlo 

Netherlands 

With copy to: 

QIAGEN GmbH 

Attn: Legal Department 

QIAGEN Straße 1 

40724 Hilden 

Germany 

If to Licensee 

BioNano Genomics, Inc. 

9640 Towne Centre Drive, Suite 100 

San Diego, CA 92121 

Attention: Erik Holmlin 

Facsimile: +1(858)888 7601 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. 

 

									
	Q BIOTECHNOLOGY C.V.	 		 	BIONANO GENOMICS, INC.
					
	 By
	 	 /s/ Dr. Juergen N. Schneider
	 		 	 By
	 	 /s/ R. Erik Holmlin

					
		 	 Dr. Juergen N. Schneider
	 		 		 	 R. Erik Holmlin

		 	 (Printed Name)
	 		 		 	 (Printed Name)

					
		 	 Managing Director
	 		 		 	 CEO

		 	 (Title)
	 		 		 	 (Title)

					
		 	 	 		 		 	 
		 		 		 		 	

 Schedule 1 Patent Rights 

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	 Docket Number
	  	 Status
	  	 Application Number
	  	 Application Date
	  	 Patent Number
	  	 Grant Date
	  	 Expiration Date

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	 [...***...]
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	  	 [...***...]
	  	 [...***...]

  
 ***Confidential
Treatment Requested 

 [...***...] 

  
 ***Confidential
Treatment Requested

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}]]