Document:

EX-10.10

 Exhibit 10.10 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [****], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE
TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 AMENDED AND RESTATED 

LICENSE AND OPTION AGREEMENT 

between 
 THE REGENTS OF THE
UNIVERSITY OF CALIFORNIA 
 and 

SURROZEN 
 for 

Human Naïve Fab Library 
 UC
Case No. [****] 
  

 TABLE OF CONTENTS 

 

							
	Article No.	 	Title	  	Page	 
	 BACKGROUND
	  	 	1	 
			
	 1.
	 	DEFINITIONS	  	 	2	 
			
	 2.
	 	GRANT	  	 	3	 
			
	 3.
	 	OPTION FEES	  	 	6	 
			
	 4.
	 	EXERCISE OF THE OPTION	  	 	6	 
			
	 5.
	 	TERMS OF THE PROPOSED COMMERCIAL LICENSE AGREEMENT	  	 	7	 
			
	 6.
	 	PROGRESS REPORTS	  	 	8	 
			
	 7.
	 	LIFE OF THE AGREEMENT	  	 	9	 
			
	 8.
	 	TERMINATION BY THE REGENTS	  	 	9	 
			
	 9.
	 	TERMINATION BY OPTIONEE	  	 	10	 
			
	 10.
	 	DISPOSITION OF BIOLOGICAL MATERIALS ON HAND UPON TERMINATION OR EXPIRATION	  	 	10	 
			
	 11.
	 	USE OF NAMES AND TRADEMARKS	  	 	10	 
			
	 12.
	 	CONFIDENTIALITY	  	 	10	 
			
	 13.
	 	LIMITED WARRANTY	  	 	12	 
			
	 14.
	 	LIMITATION OF LIABILITY	  	 	13	 
			
	 15.
	 	INDEMNIFICATION	  	 	13	 
			
	 16.
	 	NOTICES	  	 	14	 
			
	 17.
	 	ASSIGNABILITY	  	 	15	 
			
	 18.
	 	WAIVER	  	 	15	 
			
	 19.
	 	FORCE MAJEURE	  	 	16	 
			
	 20.
	 	GOVERNING LAWS; VENUE; ATTORNEYS FEES	  	 	16	 
			
	 21.
	 	GOVERNMENT APPROVAL OR REGISTRATION	  	 	16	 
			
	 22.
	 	COMPLIANCE WITH LAWS	  	 	17	 
			
	 23.
	 	MISCELLANEOUS	  	 	17	 
		
	 EXHIBIT A
	  	 	19	 
		
	 EXHIBIT B: CONSENT TO SUBSTITUTION OF PARTY
	  	 	20	 

  

  
 -i- 

 AMENDED AND RESTATED LICENSE AND OPTION AGREEMENT FOR 

UC Case No [****] 
 “Human
Naïve Fab Library” 
 This amended and restated license and option agreement (“Agreement”) is effective this 17th
day of January, 2020 (“Amended and Restated Effective Date”), between The Regents of the University of California (“The Regents”), a California corporation, having its statewide administrative offices at 1111
Franklin Street, 12th Floor, Oakland, California 94607-5200, and acting through its Office of Technology Management, University of California San Francisco, 600 16th Street, Suite S-272, San Francisco, CA
94143 and Surrozen, Inc., a Delaware corporation, having a principal place of business at 171 Oyster Point Blvd., Suite 400, South San Francisco, CA 94080 (“Surrozen”). The Regents and Surrozen are sometimes referred to
herein individually as a “Party” and collectively as the “Parties.” 
 BACKGROUND 

A.    Certain inventions, generally characterized as the Human Naïve Fab Library and disclosed in UC Case No. [****]
(“Invention”), are covered by the Technology Rights (as defined in Paragraph 1.12 below) and were made in the course of research at the University of California, San Francisco by [****]. 

B.    Development of the Invention was sponsored by The National Institutes of Health (“NIH”) and as a consequence, this
Agreement, any Commercial License Agreement, and the Invention are subject to overriding obligations to the United States Federal Government under 35 U.S.C. §§ 200-212 and applicable regulations
including a non-exclusive, non-transferable, irrevocable, paid-up license to practice or have practiced the Invention for or on
behalf of the United States Government throughout the world. 
 C.    The Regents elected on [****] to retain title and granted the
aforementioned licenses to the United States Government. 
 D.    Surrozen wishes to use the Biological Material under the Agreement to
discover Identified Antibodies and to determine its interest in exercising its option to obtain a commercial license to develop and commercialize the Identified Antibody(ies) or Derivative Antibody(ies). 

E.    The Regents wishes to grant Surrozen the non-exclusive license and the option so that the
Invention is used to discover and develop Identified Antibodies or Derivative Antibody(ies), if any, for the benefit of the general public by treating serious disease. 

F.    The Regents and Surrozen entered into a License and Option Agreement dated September 30, 2016 (the “Effective
Date”) with UC Agreement Control No. [****] (“Original Agreement”). The Regents and Surrozen also entered into a first amendment effective October 17, 2018 (UC Agreement Control No. [****]) (“First
Amendment”) to allow for an additional transfer of Original 

  
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Materials and an associated scientific protocol to Surrozen. Surrozen and The Regents now desire to amend and restate the Original Agreement in its entirety with this Agreement for the purpose of
updating the option and terms of the proposed Commercial License Agreement. 
 AGREEMENT 

The Parties agree as follows: 

1.    DEFINITIONS 

As used in this Agreement, the following terms, whether used in the singular or plural, shall have the following meanings: 

1.1    “Antibody(ies)” means a protein or immunoglobulin that binds to an antigen or target of interest
through a complementarity determining region (“CDR”), or any fragment of such protein, including, but not limited to, an antibody, antibody fragment, [****]. 

1.2    “Biological Materials” means: (a) the Original Materials and their Progeny;
(b) Unmodified Derivatives; (c) Identified Antibody(ies); or (d) Derivative Antibody(ies). 

1.3    “Commercial License Agreement” means the license agreement as more fully described in Article 5
and Exhibit A (Terms of the Proposed Commercial License Agreement) by and between The Regents and Surrozen that may result if Surrozen exercises its option under this Agreement. 

1.4    “CRO” means a contract research organization under contract with Surrozen to perform research for
or on behalf of Surrozen. 
 1.5    “Derivative Antibody” means an Antibody that is the result of
Surrozen’s (i) research, development or optimization efforts using an Identified Antibody as a starting compound, [****], or (ii) combining an Identified Antibody with a third-party Antibody, [****]. 

1.6    “Field of Use” means the use of the Biological Materials for internal research, drug discovery and
screening by Surrozen on Surrozen’s own premises or by a CRO on behalf of Surrozen, to identify Antibodies against targets of interest and to test such Antibodies in vitro and in vivo (in animal models) as candidates for further development.
The Field of Use specifically excludes (i) the Sale, transfer, lease, exchange or other disposition or provision of Biological Materials, including but not limited to the Original Materials, or Product(s); (ii) any use in humans of the
Biological Materials or Product(s); (iii) the use or testing of the Products in any clinical trials; and (iv) the modification, in any way, of the Original Materials. 

  
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 1.7    “Identified Antibody(ies)” means a) an Antibody
identified, produced or derived from the Biological Materials by Surrozen, b) a polynucleotide encoding the Antibody described in a) above, or c) the amino acid or nucleotide sequence of the CDR of the Antibody described in a) above. 

1.8    “Original Materials” means the Human Fab Naïve Phage Display Library developed by [****] and
described in the following publication: [****]. 
 1.9    “Product” means any article of manufacture,
composition of matter, material, compound, component or product that consists of, contains or incorporates Identified Antibody(ies) or Derivative Antibody(ies). 

1.10    “Progeny” means descendants from the Original Materials, Progeny and/or Unmodified Derivatives,
including those with mutations such as: virus from virus; cell from cell; or organism from organism. 

1.11    “Sale” means the act of selling, leasing or otherwise transferring, providing, or furnishing for
use for any financial consideration. Correspondingly, “Sell” means to make or cause to be made a Sale, and “Sold” means to have made or caused to be made a Sale. 

1.12    “Technology Rights” means (i) The Regents’ personal property rights in the Biological
Materials; and (ii) The Regents’ personal proprietary rights in the existing know-how associated with the Biological Materials. 

1.13    “Unmodified Derivative(s)” means a substance(s) derived from the Original Materials, Progeny or
Unmodified Derivatives that constitutes an unmodified functional subunit or derivative of the Original Materials, Progeny or Unmodified Derivatives, [****]. For the avoidance of doubt, Unmodified Derivatives shall not include any Antibody (ies)
identified by Licensee through screening the Original Materials, Progeny or Unmodified Derivatives. 
 2.    GRANT

 2.1    Supply. The Regents, and Surrozen acknowledge that a viable sample of the existing Original
Materials (or an equivalent thereof), has been provided to Surrozen. Surrozen is responsible for any handling and shipping costs associated with the provision of any additional samples of Original Materials to Surrozen. Surrozen may use such
Original Materials solely as necessary to exercise the rights granted to Surrozen hereunder; provided, however, in no event may Surrozen Sell, transfer, lease, exchange or otherwise dispose of or provide such Original Materials and/or any Biological
Materials to 

  
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any third party except solely as provided for in Paragraph 2.11. Surrozen shall notify The Regents if Surrozen receives any biological material from [****] or any representative of The Regents
that is not Original Materials. Surrozen may not use such biological material without the written permission of The Regents. 

2.2    Non-Exclusive License. Subject to the limitations and other terms
and conditions set forth in this Agreement, including the license granted to the United States Government as set forth in the recitals and in Paragraph 2.4, The Regents grants Surrozen, under the Technology Rights, the
non-exclusive right to make (propagate) and use the Biological Materials only in the Field of Use, in the United States and in other countries where The Regents may lawfully grant such licenses, solely to
provide Surrozen the opportunity to discover Identified Antibodies and determine its interest in a Commercial License Agreement. 

2.3    Option. Subject to the limitations and other terms and conditions set forth in this Agreement, including the
license granted to the United States Government as set forth in the recitals and in Paragraph 2.4, The Regents grants Surrozen a time-limited right to negotiate in good faith the terms of the Commercial License Agreement. 

2.4    U.S. Government Rights. The rights and licenses granted hereunder are subject to the overriding obligations
to the United States Government under 35 USC§§ 200-212 and all applicable governmental implementing regulations, as amended from time to time, including the obligation to report on the utilization of
the Invention as set forth in 37 CFR.§ 401.14(h), and all applicable provisions of any license to the United States Government executed by The Regents. 

2.5    Limitations. The rights and licenses granted in Paragraphs 2.1, 2.2 and 2.3 do not constitute a license to
make or use Identified Antibodies or Derivative Antibodies except for the sole purpose of conducting an evaluation to determine the interest by Surrozen in exercising the rights granted in Paragraph 2.3 above. The right to test in clinical trials,
import, offer for Sale, and Sell Biological Materials or Product(s) is expressly excluded from this Agreement. Unless there is an executed and active Commercial License Agreement between the parties covering the subject Identified Antibody,
Derivative Antibody or Product, Surrozen is prohibited from filing an Investigational New Drug (IND) application with the FDA (or a similar application with a foreign regulatory authority) on any Identified Antibody, Derivative Antibody, or Product.

 2.6    Patent Filings. Inventorship of inventions conceived or reduced to practice in the course of activities
performed under or contemplated by this Agreement shall be determined under U.S. patent laws pertaining to inventorship. 

2.7    Title. Title in and to the Original Materials, Progeny and Unmodified Derivatives and any rights, including
any and all intellectual property rights, relating thereto is owned by The Regents and 

  
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is not transferred to Surrozen under this Agreement. Surrozen will own any Derivative Antibody(ies), except that The Regents retains ownership of any Original Materials, Progeny, and Unmodified
Derivatives, as well as portions of Unmodified Derivatives contained or incorporated in any such Derivative Antibody. 

2.8    The Regents’ Retention of Rights. The Regents reserves and retains the right (and the rights granted to
Surrozen in this Agreement shall be limited accordingly) to make, use and practice the Invention, the Technology Rights, and the Original Materials, Progeny and Unmodified Derivatives and any technology relating to any of the foregoing created by
The Regents for educational and research purposes, including without limitation, any sponsored research performed for or on behalf of commercial entities and including publication and other communication of any research results. Surrozen understands
that the right of The Regents to transfer the Original Materials, Progeny and Unmodified Derivatives to other educational and non-profit institutions as provided for in this Paragraph 2.8 could lead to the
inadvertent loss or diminution of the proprietary and commercial value of the Original Material, Progeny and Unmodified Derivatives and that such loss or diminution does not affect the consideration Surrozen is to convey to The Regents hereunder.

 2.9    Additional Licenses. Subject to Section 4.2, The Regents is free to issue additional licenses
under the Technology Rights and to the Original Materials and any biological materials made from the Original Materials for commercial or non-commercial purposes and is free to transfer the Original Materials
and any biological materials made from the Original Materials to third parties, except The Regents shall not transfer the Derivative Antibodies to a Third Party. 

2.10    No Right to Sublicense. This Agreement specifically excludes the right to sublicense, except as permitted
under Paragraph 2.11 (CROs) below. 
 2.11    CROs. Surrozen’s right to transfer possession of the
Biological Materials and Identified Antibody(ies) and/or Derivative Antibody(ies) to third parties is expressly limited under the terms of this Agreement. Surrozen shall have the right to transfer the Biological Materials, Identified Antibody(ies)
and/or Derivative Antibody(ies) solely to CROs for the express purpose of performing research in the Field of Use on behalf of Surrozen. If Surrozen transfers any Biological Materials, Identified Antibody(ies) and/or Derivative Antibody(ies) to
CROs, it hereby agrees that such CROs shall be required to comply with the terms and conditions of this Agreement. For the purpose of this Agreement, Surrozen shall remain responsible for the performance of its rights and obligations set out in this
Agreement by such recipient CROs, including the confidentiality and material handling protections set forth in this Agreement. 

  
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 3.    OPTION FEES 

3.1    Option Issue Fee. As partial consideration for the rights granted to Surrozen herein, Surrozen will pay The
Regents an option issue fee of [****]. The option issue fee is due The Regents within [****] of the Effective Date. The option issue fee was paid in full on [****]. 

3.2    Option Maintenance Fee. Surrozen will also pay The Regents an option maintenance fee of [****] beginning on
the first anniversary of the Effective Date and continuing annually on each anniversary of the Effective Date until, the earlier of, either the Parties executing a Commercial License Agreement or termination of this Agreement. The option maintenance
fee is due The Regents within [****] of each anniversary of the Effective Date beginning with the first anniversary. 

3.3    Term Extension. Upon receipt of Surrozen’s notice of a request to extend the Term, the Parties may
extend the Term of this Agreement for an additional four (4) years by written agreement. If the Parties agree to an additional Term, Surrozen will pay an option extension fee of [****], which is due within [****] of the Parties written
agreement to extend the Term. 
 3.4    The option issue fee, option maintenance fee and option extension fee are non-refundable, non-cancelable, non-creditable and not an advance against royalties or other payments required to be paid under the terms of this Agreement or the Commercial
License Agreement. 
 3.5    In the event that fees or other monies owed to The Regents are not received by The Regents
when due, then Surrozen will pay The Regents interest at a rate of [****]. Such interest will be calculated from the date payment was due until actually received by The Regents. Such accrual of interest will be in addition to and not in lieu of,
enforcement of any other rights of The Regents due to such late payment. 
 4.    EXERCISE OF THE OPTION 

4.1    If Surrozen elects to exercise its right to negotiate the terms of the Commercial License Agreement, then Surrozen
will notify The Regents in writing not later than [****] prior to the expiration of this Agreement. 
 4.2    Within the
[****] following Surrozen’s election to exercise its option pursuant to Paragraph 4.1, Surrozen and The Regents will begin, in good faith, to negotiate the outstanding terms and conditions of the Commercial License Agreement. The Parties shall
have a maximum of [****] from the date of election to conclude a Commercial License Agreement (“Negotiation Period”). Such Negotiation Period may be extended by written mutual agreement. 

  
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 4.3    The Parties mutually acknowledge that good-faith negotiations may
or may not result in the execution of the Commercial License Agreement. Neither Party will be liable to the other in the event of any termination of negotiations or failure to execute the Commercial License Agreement unless and to the extent the
other Party proves, by clear and convincing evidence, that the terms sought by such Party are so unreasonable as to clearly constitute bad faith. 

5.    TERMS OF THE PROPOSED COMMERCIAL LICENSE AGREEMENT 

5.1    If Surrozen exercises its rights under Paragraph 2.3, Article 3 (Option Fees), Article 4 (Exercise of the Option)
and this Article 5, then The Regents and Surrozen will thereafter negotiate, in good faith, the terms of the Commercial License Agreement. The terms of the Commercial License Agreement will include, but not be limited to, the agreed upon terms set
forth in Exhibit A and the following provisions: 
  

	 	5.1.1	 confidentiality terms; 

 

	 	5.1.2	 indemnification by Surrozen of The Regents, the sponsors of the research that led to the Invention and the
development of the Original Materials to the extent of their sponsorship of the research, and the inventors of the Original Materials and their employers. 

  

	 	5.1.3	 a warranty that is limited to The Regents’ right to grant a license under Technology Rights as set forth
in Article 13 (Limited Warranty) hereof; 

  

	 	5.1.4	 limitation of liability of The Regents; and 

 

	 	5.1.5	 other standard terms normally found in exclusive license agreements executed by The Regents.

 5.2    Surrozen and The Regents have agreed upon a term sheet (“Term Sheet”) which
sets forth the basic terms under which the Parties have agreed to negotiate a Commercial License Agreement, a copy of which is attached to this Agreement as Exhibit A. The Term Sheet shall not create any binding obligations on the part of either
Surrozen or The Regents to execute a Commercial License Agreement. Any rights and obligations of the Parties pursuant to the Commercial License Agreement will be subject to the negotiation and execution of the Commercial License Agreement. 

5.3    The Commercial License Agreement will be subject to the following: 

 

	 	5.3.1	 The obligations to the U.S. Government under 35 U.S.C. §§
200-212 and applicable governmental implementing regulations, as amended from time to time, including the obligation to report on the utilization of the Invention as set forth in 37 CFR. § 401.14(h), and
all applicable provisions of any license to the United States Government executed by The Regents; and 

  
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	 	5.3.2	 The National Institutes of Health “Principles and Guidelines for Recipients of NIH Research Grants and
Contracts on Obtaining and Disseminating Biomedical Research Resources,” 64 F.R. 72090 (Dec. 23, 1999), as amended from time to time. 

6.    PROGRESS REPORTS 

6.1    Beginning on the [****], and [****] thereafter (“Progress Report Due Date”), Surrozen will provide
to The Regents a written progress report as described in Paragraph 6.2 below covering Surrozen’s activities related to the use of the Biological Material. 

6.2    The progress reports will include, but are not limited to, the following: 

 

	 	6.2.1	 A summary of work completed and in progress as of the submission date, related to the use of the Biological
Material. The summary of work should provide The Regents with enough information so that The Regents may understand the usefulness and effectiveness of The Regents’ libraries, the success of Surrozen’s screenings, and the development
status of any Identified Antibodies and Derivative Antibodies. [****] 

  

	 	6.2.2	 [****] 

  

	 	6.2.3	 [****] 

6.3    A progress report will be considered timely if provided to The Regents within [****] of the Progress Report Due
Date. If Surrozen fails to submit a timely progress report to The Regents, then The Regents will provide Surrozen written notice that it has failed to submit a timely progress report and Surrozen will have an additional [****] after receiving The
Regents’ written notice to submit the progress report. If Surrozen fails to submit a progress report during this additional [****] window, then The Regents will be entitled to terminate this Agreement in accordance with Section 8. If
either Party terminates this Agreement before expiration, then Surrozen shall submit within [****] following termination a final progress report to cover the period up to the time of termination. 

  
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 6.4    In the event that Surrozen elects to extend the term of this
Agreement as provided for in Paragraph 3.3, Surrozen must continue to submit progress reports in accordance with the provisions of Paragraphs 6.1, 6.2 and 6.3 above. 

7.    LIFE OF THE AGREEMENT 

7.1    Unless otherwise terminated by operation of law or by acts of the Parties in accordance with the terms of this
Agreement, this Agreement will be in force from the Effective Date and will remain in effect for four (4) years thereafter (the “Term”). 

7.2    Surrozen may extend this Agreement for an additional Term in accordance with the provisions of Paragraph 3.3. 

7.3    This Agreement will automatically terminate without the obligation to provide sixty (60) days notice as set
forth in Article 8 upon the filing of a petition for relief under the United States Bankruptcy Code by or against Surrozen as a debtor or alleged debtor. 

7.4    Any termination of this Agreement will not affect the rights and obligations set forth in the following Paragraph
and Articles: 
  

					
		  	Article 1	  	Definitions Option Fees
		  	Article 3	  	Option Fees
		  	Article 7	  	Life of the Agreement
		  	Article 10	  	Disposition of Biological Materials on Hand Upon Termination or Expiration
		  	Article 11	  	Use of Names and Trademarks
		  	Article 12	  	Confidentiality
		  	Article 13	  	Limited Warranty
		  	Article 14	  	Limitation of Liability
		  	Article 15	  	Indemnification
		  	Article 16	  	Notices
		  	Article 20	  	Governing Laws; Venue; Attorneys Fees

 7.5    Any termination or expiration of this Agreement will not relieve the Surrozen of
its obligation to pay any fees or monies, including the option fee and extension fee (if any), due or owing at the time of termination or expiration and will not impair any accrued right of The Regents. 

8.    TERMINATION BY THE REGENTS 

8.1    If The Regents believes that Surrozen is in material breach of this Agreement, then The Regents shall give written
notice of the breach (“Notice of Breach”) to Surrozen such Notice of Breach describing the alleged material breach in sufficient detail to put Surrozen on notice. If Surrozen fails to repair the material breach within sixty
(60) days of receipt of the Notice of Breach, then The Regents will have the right to immediately terminate this Agreement and its licenses by providing a written notice of termination (“Notice of Termination”) to Surrozen.

  
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 9.    TERMINATION BY OPTIONEE 

9.1    Surrozen has the right to terminate this Agreement at any time by providing a Notice of Termination to The Regents.
Termination of this Agreement will be effective sixty (60) days from the effective date of such notice. 

10.    DISPOSITION OF BIOLOGICAL MATERIALS ON HAND UPON TERMINATION OR EXPIRATION 

10.1    Surrozen must destroy any Biological Materials in its possession within [****] after any of the following events
have occurred: 
  

	 	10.1.1	 the date the termination of this Agreement takes effect, prior to expiration; 

 

	 	10.1.2	 if the Agreement has not been terminated earlier, the date of expiration of this Agreement takes effect, if
Surrozen has not exercised the Option according to the provisions of Article 4 (Exercise of the Option); or 

  

	 	10.1.3	 the termination of negotiations where Surrozen exercised the Option in accordance with Article 4 (Exercise of
the Option), but negotiations between The Regents and Surrozen were terminated without an agreement on the terms of the Commercial License Agreement being reached. 

10.2    Surrozen will provide The Regents within [****] following the destruction of the Biological Materials with written
notice that they have been destroyed. 
 11.    USE OF NAMES AND TRADEMARKS 

11.1    Nothing contained in this Agreement confers any right to use in advertising, publicity or other promotional
activities any name, trade name, trademark or other designation of either Party hereto (including contraction, abbreviation or simulation of any of the foregoing). Without Surrozen’s consent case-by-case, The Regents may list Surrozen’s name as a licensee of technology from The Regents without further identifying the technology. Unless required by law or unless consented to in writing by
Executive Director, Office of Technology Transfer of The Regents, the use by Surrozen of the name “The Regents of the University of California” or the name of any campus of the University of California in advertising, publicity or other
promotional activities is expressly prohibited. Notwithstanding the foregoing, Surrozen shall be permitted to acknowledge in a scientific publication, consistent with standard practice for such publications, the source of the Biological Materials.

 12.    CONFIDENTIALITY 

12.1    Each Party agrees that, during the Term and for a period of [****] thereafter, a Party (the “Receiving
Party”) receiving proprietary know-how, inventions, Biological Materials, 

  
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business, patent prosecution, software, engineering drawings, process and technical information, and other proprietary information, including the negotiated terms of this Agreement and any
progress reports (“Proprietary Information”) of the other Party (the “Disclosing Party”) shall (a) maintain in confidence such Proprietary Information using reasonable efforts, but not less than the efforts
such Receiving Party uses to maintain in confidence its own proprietary information of similar kind and value, (b) not disclose such Proprietary Information to any third party without the prior written consent of the Disclosing Party, except
for disclosures expressly permitted in this Article 12 (Confidentiality), and (c) not use such Proprietary Information for any purpose except those permitted by this Agreement. 

12.2    Surrozen and The Regents may use and disclose Proprietary Information to their employees, agents, consultants,
contractors, lawyers, investment bankers and potential investors provided that such parties are bound by a like duty of confidentiality as that found in this Article 12 (Confidentiality). Notwithstanding anything to the contrary contained in this
Agreement, The Regents may disclose this Agreement as required pursuant to the California Public Records Act or other applicable law. 

12.3    All written Proprietary Information will be labeled or marked confidential or proprietary. If the Proprietary
Information is orally disclosed, it will be reduced to writing or some other physically tangible form, marked, and labeled as confidential or proprietary by the disclosing party, and delivered to the receiving party within [****] after the oral
disclosure. 
 12.4    Nothing contained herein will in any way restrict or impair the right of Surrozen or The Regents
to use or disclose any Proprietary Information that the Receiving Party can show by written documentation: 
  

	 	12.4.1	 was previously known to it prior to its disclosure by the Disclosing Party; 

 

	 	12.4.2	 is now, or becomes in the future, public knowledge other than through acts or omissions of Receiving Party;

  

	 	12.4.3	 was lawfully obtained without restrictions on the Receiving Party from sources independent of the Disclosing
Party; and 

  

	 	12.4.4	 that The Regents is required to disclose pursuant to the California Public Records Act or other applicable law
(subject to Section 12.5(ii)). 

 12.5    Surrozen or The Regents may also use or disclose
Proprietary Information that is required to be disclosed (i) to a governmental entity or agency in connection with seeking any governmental or regulatory approval, governmental audit, or other governmental contractual requirement or
(ii) by law, provided that the Receiving Party uses reasonable efforts to give the c sufficient notice of such required disclosure to allow the Disclosing Party reasonable opportunity to object to, and to take legal action to prevent, such
disclosure. 

  
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 12.6    Upon any termination of this Agreement, Surrozen and The Regents
will destroy or return any of the Disclosing Party’s Proprietary Information in its possession within [****] following the termination of this Agreement. Surrozen and The Regents will provide each other, within [****] following termination,
with written notice that such Proprietary Information has been returned or destroyed. Each Party may, however, retain one copy of such Proprietary Information for archival purposes in non-working files. 

12.7    With regard to the Biological Materials, Surrozen agrees: 

 

	 	12.7.1	 not to use the Biological Materials except for the sole purpose of performing under the terms of this
Agreement; 

  

	 	12.7.2	 not to transfer the Biological Materials to others (except to its employees, agents, CROs or consultants who
are bound to Surrozen by like obligations conditioning and restricting access, use and continued use of Biological Material) without the express written permission of The Regents, except that Surrozen is not prevented from transferring any
Biological Material that is lawfully obtained by the Surrozen from sources independent of The Regents; 

  

	 	12.7.3	 to safeguard the Biological Materials against disclosure and transmission to others with the same degree of
care as it exercises with its own biological materials of a similar nature; and 

  

	 	12.7.4	 to destroy all copies of the Biological Materials at the termination or expiration of this Agreement within
[****] following the effective date of such termination or expiration. 

 13.    LIMITED WARRANTY

 13.1    The Regents warrants to Surrozen that it has the lawful right to grant this option. 

13.2    Except as expressly set forth in this Agreement, the licenses and the associated Invention and any Biological
Materials are provided by The Regents WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. THE REGENTS MAKES NO EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY THAT THE
INVENTION, PRODUCTS OR BIOLOGICAL MATERIALS WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK OR OTHER RIGHTS. 

13.3    This Agreement does not: 
  

	 	13.3.1	 express or imply a warranty or representation as to the validity, enforceability, or scope of any Technology
Rights; or 

  
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	 	13.3.2	 express or imply a warranty or representation that anything made, used, Sold, offered for Sale or imported or
otherwise disposed of under any license from The Regents is or will be free from infringement of patents, copyrights, or other rights of third parties; or 

  

	 	13.3.3	 obligate The Regents to bring or prosecute actions or suits against third parties for patent infringement; or

  

	 	13.3.4	 confer by implication, estoppel or otherwise any license or rights under any patents or other rights of The
Regents; or 

  

	 	13.3.5	 obligate The Regents to furnish any know-how, technology or information
not provided in Biological Materials or Technology Rights; or 

  

	 	13.3.6	 obligate The Regents to update the technology in Technology Rights. 

14.    LIMITATION OF LIABILITY 

14.1    THE REGENTS WILL NOT BE LIABLE FOR ANY LOST PROFITS, COSTS Of PROCURING SUBSTITUTE GOODS OR SERVICES, LOST
BUSINESS, ENHANCED DAMAGES FOR INTELLECTUAL PROPERTY INFRINGEMENT OR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR OTHER SPECIAL DAMAGES SUFFERED BY SURROZEN ARISING OUT OF OR RELATED TO THIS AGREEMENT FOR ALL CAUSES OF ACTION OF ANY KIND
(INCLUDING TORT, CONTRACT, NEGLIGENCE, STRICT LIABILITY AND BREACH OF WARRANTY) EVEN IF THE REGENTS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 

15.    INDEMNIFICATION 

15.1    Surrozen will indemnify, hold harmless and defend The Regents and its officers, employees and agents, the sponsors
of the research that led to the Invention and the development of the Original Materials (to the extent of their sponsorship of the research), and the inventors of the Original Materials and their employers against any and all claims, suits, losses,
damage, costs, fees and expenses resulting from, or arising out of, this Agreement, including, but not be limited to, product liability (“Claims”), provided such Claims do not arise due to The Regents’ gross negligence or willful
misconduct. Surrozen will not use or test the Biological Materials, including the Identified Antibody(ies) or Derivative Antibody(ies), or the Products on or in human subjects. If there is a conflict of interest or The Regents’ believes it will
not otherwise be adequately represented by counsel chosen by the Surrozen to defend The Regents in accordance with this Paragraph 15.1, then The Regents may retain counsel of its choice to represent it, and Surrozen will pay all expenses for such
representation. 

  
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21 

 15.2    During the term of this Agreement and for [****] following its
termination or expiration, the Surrozen, at its sole cost and expense, will insure its activities in connection with any work performed hereunder and will obtain and maintain the following insurance (or an equivalent program of self insurance): 

 

	 	15.2.1	 Comprehensive or commercial form general liability insurance (contractual liability included) with limits as
follows: 

  

			
	 Each Occurrence
	  	[****]
		
	 Personal and Advertising Injury
	  	[****]
		
	 General Aggregate (commercial form only)
	  	[****]

  

	 	15.2.2	 The coverage referred to in Paragraph 15.2.1 above will not in any way limit the liability of Surrozen.
Surrozen will furnish The Regents with certificates of insurance evidencing compliance with all requirements. Such certificates will: 

  

	 	•	 	 Provide for [****] advance written notice to The Regents of any material modification; 

 

	 	•	 	 Indicate that The Regents are included as an additional insured under the coverage described above; and

  

	 	•	 	 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 The Regents. 

 15.3    The
Regents will promptly notify Surrozen in writing of any claim or suit brought against The Regents for which The Regents intends to invoke the provisions of this Article 15 (Indemnification). The Surrozen will keep The Regents informed on a current
basis of its defense of any claims pursuant to this Article 15 (Indemnification). 
 16.    NOTICES 

16.1    Any notice or payment required to be given to either Party shall be deemed to have been properly given and to be
effective as of the date specified below if delivered to the respective address given below or to another address as designated by written notice given to the other party: 
  

	 	16.1.1	 on the date of delivery if delivered in person; 

 

	 	16.1.2	 on the date of mailing if mailed by first-class certified mail, postage paid; or 

 

	 	16.1.3	 on the date of mailing if mailed by any global express carrier service that requires recipient to sign the
documents demonstrating the delivery of such notice or payment. 

  
 Page 14 of
21 

 In the case of Surrozen: 

[****] 
 In the case of The
Regents: 
 For notices: 

[****] 
 For remittance of
payments: 
 [****] 

17.    ASSIGNABILITY 

This Agreement is personal to Surrozen. Surrozen may not assign or transfer this Agreement without The Regents’ prior written consent
except that such consent will not be required in the case of assignment or transfer to a party that succeeds to all or substantially all of Surrozen’s business or assets relating to this Agreement, whether by sale, merger, operation of law or
otherwise, provided that such assignee or transferee promptly agrees to be bound by the terms and conditions of this Agreement and signs The Regents’ standard substitution of party letter (the form of which is attached hereto as Exhibit B). Any
attempted assignment by Surrozen in violation of this Article 17 (Assignability) will be null and void. This Agreement is binding upon and will inure to the benefit of The Regents, its successors and assigns. 

18.    WAIVER 

No waiver by either party of any breach or default of any of the covenants or agreements contained herein will be deemed a waiver as to any
subsequent and/or similar breach or default. No waiver will be valid or binding upon the parties unless made in writing and signed by a duly authorized officer of each party. 

  
 Page 15 of
21 

 19.    FORCE MAJEURE 

19.1    Except for Surrozen’s obligation to make any payments to The Regents hereunder, the Parties shall not be
responsible for any failure to perform due to the occurrence of any events beyond their reasonable control which render their performance impossible or onerous, including, but not limited to: accidents (environmental, toxic spill, etc.); acts of
God; biological or nuclear incidents; casualties; earthquakes; fires; floods; governmental acts; orders or restrictions; inability to obtain suitable and sufficient labor, transportation, fuel and materials; local, national or state emergency; power
failure and power outages; acts of terrorism; strike; and war. 
 19.2    Either Party to this Agreement however, will
have the right to terminate this Agreement upon [****] prior written notice if either party is unable to fulfill its obligations under this Agreement due to any of the causes mentioned in Paragraph 19.1 for a period of [****]. 

20.    GOVERNING LAWS; VENUE; ATTORNEYS FEES 

20.1    THIS AGREEMENT WILL BE INTERPRETED AND CONSTRUED 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 and without regard to which party drafted particular provisions of this Agreement, but the scope and validity of any patent or patent application will be
governed by the applicable laws of the country of such patent or patent application. 
 20.2    Any legal action brought
by the parties hereto relating to this Agreement will be conducted in San Francisco, California. 
 20.3    [****] 

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, Surrozen will assume all legal obligations to do so. Surrozen will notify The Regents if it becomes aware that this Agreement is subject to a United States or foreign government reporting or approval requirement. The Surrozen 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. 

  
 Page 16 of
21 

 22.    COMPLIANCE WITH LAWS 

Surrozen shall comply with all applicable international, national, state, regional and local laws and regulations in performing its
obligations hereunder and in its use, manufacture, or import of the Biological Materials. Surrozen will observe all applicable United States and foreign laws with respect to the transfer of Biological Materials and related technical data to foreign
countries, including, without limitation, the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. Surrozen shall manufacture Biological Materials in compliance with applicable government importation laws and
regulations of a particular country for Biological Materials made outside the particular country in which such Biological Materials are made or used. 

23.    MISCELLANEOUS 

23.1    The headings of the several sections are inserted for convenience of reference only and are not intended to be a
part of or to affect the meaning or interpretation of this Agreement. 
 23.2    This Agreement is not binding upon the
Parties until it has been signed below by each Party. It is then effective as of the Effective Date. 
 23.3    No
amendment or modification hereof is valid or binding upon the parties unless made in writing and signed on behalf of each Party. 

23.4    This Agreement embodies the entire understanding of the Parties and supersedes all previous communications,
representations and understandings, either oral or written, between the Parties relating to the subject matter hereof. 

23.5    In case any of the provisions contained in this Agreement is held to be invalid, illegal or unenforceable in any
respect, then such invalidity, illegality or unenforceability will not affect any other provisions of this agreement and this Agreement will be construed as if such invalid, illegal or unenforceable provision had never been contained in it. 

23.6    No provisions of this Agreement are intended or shall be construed to confer upon or give to any person or entity
other than The Regents and the Surrozen any rights, remedies or other benefits under, or by reason of, this Agreement. 

23.7    In performing their respective duties under this Agreement, each of the parties will be operating as an
independent contractor. Nothing contained herein will in any way constitute any association, partnership, or joint venture between the parties hereto, or be construed to evidence the intention of the parties to establish any such relationship.
Neither party will have the power to bind the other party or incur obligations on the other party’s behalf without the other party’s prior written consent. 

  
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21 

 The Regents and Surrozen have executed this Agreement by their duly authorized
representatives, on the day and year written below. 
  

									
	SURROZEN, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ Wen-Chen Yeh
	 		 	By:	 	 /s/ Gonzalo Barrera Hernandez

		 	                    (Signature)	 		 		 	                    (Signature)
					
	Name:	 	 Wen-Chen Yeh
	 		 	Name:	 	 Gonzalo Barrera Hernandez, Ph.D.

		 	            (Please print)	 		 		 	                    (Please print)
	Title:	 	CSO	 		 	Title:	 	Associate Director
		 		 		 		 	Innovation Ventures, UCSF
	Date:	 	1/17/2020	 		 		 	
		 		 		 	Date:	 	1/23/2020

  
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21 

 EXHIBIT A 

AGREED-UPON TERM SHEET FOR THE COMMERCIAL LICENSE AGREEMENT 

FOR PRODUCTS 
 UC CASE NO.
[****] 
 This exhibit represents only a summary of certain agreed upon terms and is intended solely as a basis for completing a Commercial License
Agreement. While the terms set forth herein have been agreed to by Surrozen and The Regents, the Parties acknowledge and agree additional terms remain to be negotiated. For purpose of clarification, the Parties agree the terms set forth herein shall
be included in the Commercial License Agreement. This term sheet is not binding. 
  

			
	 Scope of the Commercial
 License
Agreement
	  	 To the extent permitted by law, a non-exclusive worldwide license under The Regents’ property
rights in the Biological Materials to make, use, sell, offer for sale and import Products used in the treatment, palliation, diagnosis or prevention of any human or animal disease.

 
 The right to sublicense to third parties the rights granted to licensee under the
Commercial License Agreement through multiple tiers.

		
	 Commercial License
 Agreement Issue
Fee
	  	[****], non-refundable and non-creditable, due within [****] of the effective date of the license agreement
		
	 Commercial License
 Agreement
Annual
 Maintenance Fee (AMF)
	  	[****], non -refundable and non-creditable, due on the one-year anniversary of the effective date of the Commercial License and due annually on each
subsequent anniversary and ending upon the first commercial sale of a Product.
		
	 Commercial License
 Agreement
Earned
 Royalties
	  	An earned royalty of [****] of net sales of any Product, whether sold by Surrozen or any of its Sub-licensees. [****]
		
	 Commercial License
 Agreement
Annual
 Minimum Royalties
	  	[****] per year beginning with the year of first commercial sale of a Product. Creditable against earned royalties in the same calendar year and pro-rated in the first year
		
	 Commercial License
 Agreement
Milestone
 Payments
	  	[****]
		
	Diligence Terms	  	To be discussed and mutually agreed.
		
	Miscellaneous	  	Standard UC language for Use of Names, Limited Warranties, Indemnification and Insurance.

  
 Page 19
of 21 

 EXHIBIT B: CONSENT TO SUBSTITUTION OF PARTY 

This substitution of parties (“Agreement”) is effective
this                day of                 , 20_, among The Regents of the University of
California (“The Regents”), a California corporation, having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, CA 94607-5200, and acting through its Office of Innovation, Technology, and Alliances,
University of California San Francisco, 3333 California Street, Suite S-11, San Francisco, CA 94143-1209; Surrozen (“Surrozen”), a Delaware corporation, having a principal place of business
at                                        ; and
[new licensee name] [(“YYY”)] a
                                        
corporation, having a principal place of business at                    . 

BACKGROUND 
  

	A.	 The Regents and Surrozen entered into a license agreement
effective                     (UC Control
No    -    -            ), entitled Option Agreement between The Regents of the University of California and Surrozen for Human Naïve Fab
Library under UC Case No. [****] (“Option Agreement”), wherein Surrozen was granted certain rights. 

  

	B.	 Surrozen desires that [YYY] be substituted as “Surrozen” (defined in the Option Agreement) in place
of Surrozen, and The Regents is agreeable to such substitution. 

  

	C.	 [YYY] has read the Option Agreement and agrees to abide by its terms and conditions. 

The parties agree as follows: 
  

	1.	 [YYY] assumes all liability and obligations under the Option Agreement and is bound by all its terms in all
respects as if it were the original “Surrozen” of the Option Agreement in place of Surrozen. 

  

	2.	 [YYY] is substituted for Surrozen, provided that [YYY] assumes all liability and obligations under the Option
Agreement as if [YYY] were the original party named as “Surrozen” as of the effective date of the Option Agreement. 

  

	3.	 The Regents releases Surrozen from all liability and obligations under the Option Agreement arising before or
after the effective date of this Agreement. 

 The parties have executed this Agreement in triplicate originals by their respective
authorized officers on the following day and year. 

  
 Page 20 of
21 

									
	SURROZEN, INC.	 	 THE REGENTS OF THE UNIVERSITY OF CALIFORNIA

					
	By	 	  
	 		 	By:	 	  

		 	(Signature)	 		 		 	(Signature)
	Name:	 	  
	 		 	Name:	 	  

		 	(Please print)	 		 		 	(Please print)
	Title:	 	  
	 		 	Title:	 	  

					
	Date:	 	  
	 		 	Date:	 	  

				
	[YYY] COMPANY	 		 		 	
					
	By:	 	  
	 		 		 	
		 	(Signature)	 		 		 	
	Name:	 	  
	 		 		 	
		 	(Please print)	 		 		 	
	Title:	 	  
	 		 		 	
					
	Date:	 	  
	 		 		 	

  
 Page 21 of
21EX-10.11

 Exhibit 10.11 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [****], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) THE TYPE THAT THE
REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 Distributed Bio, Inc 

ANTIBODY LIBRARY SUBSCRIPTION AGREEMENT 

This Antibody Library Subscription Agreement (“Agreement”), effective as of September 30th, 2016 (the “Effective Date” ), is made by and between Distributed Bio, Inc, a California corporation, having offices at 329 Oyster Point Blvd, 3rd Floor, South San Francisco, CA US 94080 (“Distributed Bio”) and Surrozen Inc., a Delaware corporation having a principal place of business
at 1700 Owens Street, Suite 500, San Francisco, CA 94158 (“Surrozen” ), and sets forth the terms and conditions on which Distributed Bio will transfer certain materials to Surrozen and
Surrozen’s use thereof. Distributed Bio and Surrozen are each referred to herein as a “Party” or collectively as the” Parties.” 

1.    Background. Distributed Bio is willing to transfer the Antibody Library for use as set forth herein. Surrozen
desires to obtain the Antibody Library for the purpose of conducting certain research related to the discovery of antibodies against biological target(s) of interest to Surrozen (the “Purpose”). 

2.    Definitions. 

“Antibody” means a molecule obtained by Surrozen using the Antibody Library which comprises or contains: (a) one or more
immunoglobulin variable domains; (b) fragments, variants, modifications or derivatives of such immunoglobulin variable domains, including but not limited to antigen binding portions including [****] (“Derivatives”) wherein said
Derivatives [****]; or (c) the nucleic acid consisting of a sequence of nucleotides encoding (or complementary to a nucleic acid encoding) the foregoing molecules in (a) or (b). 

“Antibody Library” means Distributed Bio’s antibody library identified on Exhibit A, and all updates and new versions of
that library provided to Surrozen by Distributed Bio during the Term of this Agreement. 
 “Antibody Product” means any
Antibody that includes a complementarity determining region derived by Surrozen from an Antibody in the Antibody Library, including fragments, variants, modifications and derivatives thereof. 

“Development” means pre-clinical and clinical drug development activities reasonably
relating to the discovery and development of pharmaceutical compounds and submission of information to a Regulatory Authority, including without limitation toxicology, pharmacology, and other discovery and
pre-clinical efforts, stability testing, manufacturing process development, formulation development, delivery system development, quality assurance and quality control development, statistical analysis,
clinical studies. When used as a verb, “Develop” means to engage in Development. 
 “Indication” means an
application for a label indicating the applicable drug for a patient population, or indicating the drug for use in combination with another treatment or drug, in each case that [****]. 

“Licensed IP” means any patent rights and/or property rights of Distributed Bio that cover the composition of matter of any
Antibody Product as of the Effective Date. For clarity, Licensed IP does not include any methods of generating antibody libraries. 

“Materials” means the Antibody Library and any associated materials transferred to Surrozen, as well as any progeny,
derivatives or improvements developed or derived by Surrozen therefrom, and any combination of the foregoing with other substances. 

“Phase I Clinical Trial” means a study of an Antibody Product in human subjects or patients with the endpoint of determining
initial tolerance, safety, metabolism or pharmacokinetic information and clinical pharmacology of such product as and to the extent defined for the United States in 21 C.F.R. § 312.21(a), or its successor regulation, or the equivalent
regulation in any other country. 

 “Phase II Clinical Trial” means a study of an Antibody Product in human
patients to determine the safe and effective dose range in a proposed therapeutic indication as and to the extent defined for the United States in 21 C.F.R. § 312.21(b), or its successor regulation, or the equivalent regulation in any other
country. 
 “Phase Ill Clinical Trial” means a study of an Antibody Product in human patients with a defined dose or a set
of defined doses of a Antibody Product designed to (a) ascertain efficacy and safety of such Antibody Product for its intended use; (b) define warnings, precautions and adverse reactions that are associated with the Antibody Product in the
dosage range to be prescribed; and (c) support preparing and submitting applications for Regulatory Approval to the competent Regulatory Authorities in a country of the world, as and to the extent defined for the United States in 21
C.F.R.§ 312.21(c), or its successor regulation, or the equivalent regulation in any other country. Phase Ill Clinical Study shall also include any other human clinical trial serving as a pivotal study from which the data are actually submitted
to the applicable Regulatory Authority in connection with a Regulatory Marketing Approval Application, whether or not such trial is called a “Phase Il l” study. 

“Research” means the research undertaken by Surrozen using the Antibody Library to identify Antibody(ies) directed to up to
[****] of Surrozen’s proprietary targets per year in each of the first [****] calendar years and [****] of targets in each year thereafter that the annual maintenance fee is paid. Surrozen shall not be obligated to disclose the identity of its
proprietary targets to Distributed Bio. 
 3.    Subscription Payments and Milestones. 

 

	 	(a)	 Surrozen shall pay to Distributed Bio an upfront fee of [****], due within [****] after the Effective Date of
this Agreement. 

  

	 	(b)	 Surrozen shall make an annual fee payment due within [****] of the Effective Date (“Annual Fee”) as
follows: 

  

	 	(i)	 No Annual Fee shall be due on the first and second anniversaries of the Effective Date; and,

  

	 	(ii)	 On the third anniversary and each anniversary thereafter of the Effective Date, Surrozen will pay to
Distributed Bio an Annual Fee of [****] 

  

	 	(c)	 Milestones. Surrozen also shall pay to Distributed Bio, the following milestone payments:

  

					
	 	  	 Milestone Event
	  	 Milestone

Amount

	 (i)
	  	 [****]
	  	[****]
			
	 (ii)
	  	 [****]
	  	[****]
			
	 (iii)
	  	 [****]
	  	[****]
	 (iv)
	  	 [****]
	  	[****]
			
	 (v)
	  	 [****]
	  	[****]
			
	 (vi)
	  	 [****]
	  	[****]
			
	 (vii)
	  	 [****]
	  	[****]

  
 2 

 Within [****] after achievement of any of the Milestone Events, Surrozen shall provide
Distributed Bio with written notice of such achievement, and shall pay the corresponding Milestone payment within [****] after such achievement. 

The Milestones (i) - (vi) set forth in this Section 3(c) shall be paid once for an Antibody Product. 

 

	 	(d)	 If Surrozen obtains [****] of an Antibody Product without having paid Milestones 3(c)(ii)-(v) then those
Milestones 3(c)(ii)-(v) which had not been paid, shall be due and payable within [****] of [****] of the Antibody Product. Royalties. Surrozen agrees to pay to Distributed Bio a royalty on Net Sales of Antibody Products of [****] of Net Sales of
such Antibody Product. 

  

	 	(i)	 The royalties to be paid under this Section 3(d) shall continue, on an Antibody Product-by-Antibody Product basis for ten (10) years after the first commercial sale of such Antibody Product (“Royalty Term”). 

 

	 	(ii)	 “Net Sales” means payments actually received by Surrozen, its Affiliates or Sublicensees, from sales
of Antibody Products to third party customers, less reasonable and customary deductions for any: [****]. 

  

	 	(e)	 Royalty Reports; Records. 

 

	 	(i)	 Commencing on the first commercial sale of an Antibody Product, Surrozen shall furnish to Distributed Bio a
written report for each calendar quarter during the term of this Agreement showing: 

  

	 	(a)	 the gross sales of all Antibody Products sold by Surrozen, its affiliates and sublicensees during such calendar
quarter and the calculation of Net Sales of the Antibody Products from such gross sales; 

  
 3 

	 	(b)	 the royalties, payable in United States Dollars, which shall have accrued under this Agreement based upon such
Net Sales of the Antibody Products; 

  

	 	(c)	 the date of the launch of each Antibody Product; and 

 

	 	(d)	 the exchange rates used in determining the amount of royalties payable in United States Dollars.

  

	 	(ii)	 Reports to be provided by Surrozen to Distributed Bio under this section shall be due [****] following the end
of each calendar quarter. 

  

	 	(iii)	 Records. Surrozen shall keep, and shall require that its affiliates and sublicensees keep, complete and
accurate books of account and records in sufficient detail to enable the amounts payable under this Agreement to be determined. Such books and records shall be kept at the principal place of business of Surrozen, its affiliate or sublicensee, as the
case may be, for at least [****] following the end of the calendar year to which such books and records pertain. 

  

	 	(f)	 All payments are non-refundable. All payments shall be made in U.S. dollars by wire transfer to Distributed Bio
in accordance with wiring instructions provided by Distributed Bio. All sales, use, gross receipts, compensating, value-added or other taxes, duties, licenses or fees (excluding Distributed Bio’s net income and franchise taxes) assessed by any
tax jurisdiction arising from payments under this Agreement are the responsibility of Surrozen, whether paid by Distributed Bio or Surrozen. 

  

	 	(g)	 Overdue Payments. In the event any milestone payment or any royalty payment payable by Surrozen to Distributed
Bio under this Agreement is not made when due, such outstanding payment shall accrue interest (from the date such payment is due through and including the date upon which full payment is made) at the lesser of: (i) [****] or (ii) the maximum
rate per annum permitted by applicable law. 

  

	 	(h)	 Audits. 

  

	 	(i)	 Audit Rights. Upon at least [****] prior written notice from Distributed Bio and [****], Surrozen shall
permit, and shall require its Affiliates and shall use reasonable efforts to require its sublicensees, to permit, an independent certified public accounting firm of nationally recognized standing, selected by Distributed Bio and reasonably
acceptable to Surrozen, to have access during normal business hours to such books of account and records of Surrozen, and its Affiliates and sublicensees, at such party’s principal place of business, as may be reasonably necessary to verify the
accuracy of the royalty reports hereunder for any calendar year ending not more than [****] prior to the date of such request for the sole purpose of verifying the calculation and reporting of Net Sales in the previous [****] and the correctness of
any royalty payment made under this Agreement for the previous [****]. Results of any such examination shall be made available to both Distributed Bio and Surrozen. The independent, certified public accountant shall disclose to the Distributed Bio
only the amount of royalties or milestone payments, if any, that the independent auditor believes to be due and payable hereunder to the Distributed Bio, details concerning any discrepancy from the amount paid and the amount due, and shall disclose
no other information revealed in such audit. Any and all records examined by such independent accountant shall be 

  
 4 

	 	deemed Surrozen’s Confidential Information which may not be disclosed by said independent, certified public accountant to any third party. If Surrozen is unable to obtain from any sublicensee a right for
Distributed Bio to audit the books of account and records of such sublicensee, Surrozen shall obtain the right to inspect and audit such Sublicensee’s books and records for itself and shall exercise such audit rights on behalf of Distributed
Bio upon Distributed Bio’s written request and disclose the results of any such audit to Distributed Bio. 

  

	 	(ii)	 Audit Results. If such audit establishes that additional royalties were owed to Distributed Bio during
the period covered by any audit pursuant to Section 3(g), Surrozen shall remit to Distributed Bio within [****] of the date on which Distributed Bio delivers to Surrozen such accounting firm’s written report so concluding: (i) the
amount of such additional royalties; and (ii) interest on such amount which shall be calculated pursuant to Section 3(f). In the event amounts were overpaid by Surrozen during such period, the amount of such overpayment shall promptly be
refunded by Distributed Bio to Surrozen. The fees charged by such accounting firm in connection with any audit pursuant to this Section 3(g) shall be paid by Distributed Bio; provided, however, that if a discrepancy in favor of Distributed Bio
of more than [****] of the royalties due hereunder for the period being audited is identified, then Surrozen shall pay the reasonable fees and expenses charged by such accounting firm in connection with such audit. 

4.    Delivery of Materials. Distributed Bio agrees to provide the Materials to Surrozen within [****] after the
Effective Date of this Agreement and Distributed Bio will provide updated versions of the Materials as they become available from time-to-time during the term of this
Agreement. Materials will be delivered to Surrozen by a carrier selected by Distributed Bio at Distributed Bio’s expense. Distributed Bio will bear the risk of loss of the Materials until the Materials are delivered to Surrozen. 

5.    Confidentiality. 

5.1    Confidential Information. Each Party shall treat all information received from the other Party including the
terms of this Agreement (collectively, the “Confidential Information”) and shall not disclose any of such Confidential Information to any third party, without the disclosing Party’s prior written consent. The Materials shall be deemed
the Confidential Information of Distributed Bio, and Surrozen shall only use Distributed Bio’s Confidential Information or Materials for the Purpose. 

5.2    Exceptions. Notwithstanding the foregoing, neither Party shall have any obligation with respect to
information (other than the Materials that can be shown by documentary evidence: (a) is or becomes publicly known and made generally available from sources who have not obtained such information, directly or indirectly, from the disclosing
Party; or (b) was in the receiving Party’s possession at the time of disclosure by the disclosing Party and was not acquired directly or indirectly from the disclosing Party or from any other party under an obligation of confidentiality to
the disclosing Party. Surrozen further agrees that any and all of Surrozen’s employees who require access to the Materials to conduct the Research shall be subject to contractual obligations of non-use
and non-disclosure at least as restrictive as those set forth in this Agreement. Surrozen also may disclose Confidential Information derived from the Antibody Library in its patent filings for any Antibody
identified by Surrozen as binding to a biological target of interest. 
 5.3    The obligations of non-disclosure and non-use with respect to Confidential Information shall survive termination or expiration of this Agreement for a period of [****]. 

6.    Protection of Information and Material. Without limiting Section 5 above, Surrozen shall not transfer
any of the Materials to any third party without Distributed Bio’s prior written consent. Upon the expiration or termination of this Agreement, and in the absence of further written agreement of the Parties, 

  
 5 

 Surrozen shall cease all use and make no further use of the Confidential Information and the Materials.
Surrozen shall take all reasonable steps, including, but not limited to, those steps taken to protect information and other property of its own of a confidential nature, to ensure that the Confidential Information and Materials are not disclosed or
duplicated or in any manner delivered or disseminated to others. 

7.    Non-exclusive Agreement. Surrozen acknowledges that the Materials may
be provided by Distributed Bio to third parties, including Distributed Bio’s other customers, collaborators and subscribers, and Distributed Bio reserves the right to use the Materials for its own purposes, whatever they may be. Such third
parties may be competitors of Surrozen and may use the Antibody Library for similar research as being performed by Surrozen. 

8.    Title to Materials and Antibody(ies). All right, title and interest in and to Materials shall remain vested
in Distributed Bio. For purpose of clarification, all right, title and interest in and to any Antibody(ies) identified by Surrozen shall be vested in Surrozen. 

9.    Intellectual Property. 
  

	 	a.	 Ownership of all data, discoveries, inventions and other subject matter (whether patentable or not) conceived,
reduced to practice or otherwise discovered by Surrozen in the course of performing the Research or otherwise in connection with its use of the Materials, including but not limited to the Antibody Library, as permitted under this Agreement and all
intellectual property rights therein, will be owned by Surrozen (“Surrozen Inventions”). For clarity, Surrozen shall be free to patent individual Antibody (or complementarity determining region (CDR)) sequences for any Antibody(ies) that
were identified or derived by Surrozen in carrying out the Research. Because the Antibody Library is provided to Surrozen nonexclusively, Surrozen acknowledges that a third party may have filed patent applications on an Antibody or CDR sequence
identified by Surrozen in the Research. Distributed Bio makes no warranties that any antibody in the Antibody Library or the Materials will not infringe any patent rights of any third party. 

 

	 	b.	 Notice of Patent Filings. If Surrozen files any patent application on [****], then Surrozen agrees to provide
written notice to Distributed Bio within [****] after filing any such patent application. Surrozen may provide Distributed Bio [****] at a time of its own choosing. The notice and [****] are Surrozen’s Confidential Information and shall not be
disclosed to any third party in accordance with the provisions of Section 5. Within [****] after receipt of Surrozen’s notice of a patent filing, Distributed Bio will provide Surrozen with notice identifying: [****]. 

10.    License. Distributed Bio hereby grants to Surrozen a nonexclusive license under Distributed Bio’s
Licensed IP to make, have made, use, sell, offer for sale, import or otherwise to undertake the Research and to exploit any Antibody Product identified by Surrozen using the Antibody Library.. 

11.    Publication. Surrozen shall not disclose any Confidential Information specifically relating to the Antibody
Library or other Materials, orally or in writing, (e.g., by submission of a manuscript, abstract, or otherwise) to any third party, without prior written approval of Distributed Bio. Notwithstanding the foregoing, Surrozen has the right to publish
on an Antibody(ies), including but not limited to patent filings in accordance with Section 9. Distributed Bio shall not disclose Surrozen Confidential Information. 

  
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 12.    Care in Use of Materials. Surrozen acknowledges that the
Materials are experimental in nature and may have unknown characteristics and therefore agrees to use prudence and reasonable care in the use, handling, storage, transportation and disposition and containment of the Materials. Surrozen shall at all
times use the Materials in compliance with all state, federal and other applicable laws, rules and regulations pertaining to use of the Materials. Surrozen agrees to use the Antibody Library solely for the Research. For clarity, such restriction
does not apply to Antibody(ies) identified by Surrozen in carrying out the Research. 
 13.    Waiver of
Warranties. DISTRIBUTED BIO SUPPLIES ALL INFORMATION AND MATERIALS WITHOUT ANY WARRANTY, REPRESENTATION OR UNDERTAKING WHATSOEVER, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY RESPECTING THE EFFICIENCY, PERFORMANCE,
WORKMANSHIP, CONDITION, MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE, OR NON-INFRINGEMENT. 
 14    Limitation of
Liability. DISTRIBUTED BIO SHALL NOT BE RESPONSIBLE OR LIABLE WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT OR TERMS AND CONDITIONS RELATED THERETO UNDER ANY THEORY OF LIABILITY INCLUDING BUT NOT LIMITED TO CONTRACT, TORT (INCLUDING
NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE FOR ANY DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES INCLUDING, BUT NOT LIMITED TO, LOSS OF REVENUES AND LOSS OF PROFITS. THIS LIMITATION WILL APPLY EVEN IF DISTRIBUTED BIO HAS BEEN ADVISED OF
THE POSSIBILITY OF SUCH DAMAGES. THE PARTIES AGREE THAT THE FOREGOING LIMITATIONS REPRESENT A REASONABLE ALLOCATION OF RISK UNDER THIS AGREEMENT. DISTRIBUTED BIO’S LIABILITY UNDER THIS AGREEMENT SHALL NOT EXCEED THE AMOUNTS PAID BY SUBSCRIBER
TO DISTRIBUTED BIO IN THE TWELVE MONTHS PRIOR TO ANY CLAIM BEING MADE. 
 15.    Term and Termination. This
Agreement shall have an initial term of [****] from the Effective Date (the “Initial Term”) and shall automatically renew for additional one year terms, unless terminated by Surrozen. Surrozen may terminate this Agreement effective upon
written notice to Distributed Bio. Either Party (the “Non-breaching Party”) may, without prejudice to any other remedies available to it, terminate this Agreement in the event the other Party (the “Breaching Party”) has
materially breached this Agreement, and such breach has continued for sixty (60) days (the “Cure Period”) after written notice thereof is provided to the Breaching Party by the Non-breaching Party, such notice describing the alleged
material breach in sufficient detail to put the Breaching Party on notice. Within [****] after termination or expiration of this Agreement, Surrozen shall return or destroy, at Distributed Bio’s discretion, the Materials, and if destroyed,
provide written certification of such destruction; provided that Surrozen may retain any Materials to the extent such Materials encompass an Antibody for which Surrozen has filed for patent protection pursuant to Section 9. The provisions of
Sections 2, 3 (with respect to payments due prior to such termination), 5, 6, 7, 8, 9, 14, 15, and 17-21 shall survive any termination or expiration of this Agreement. 

16.    No Conflict. Surrozen shall not use any of the Materials in any research that is subject to consulting,
licensing or similar obligations (including the provision of research services whether paid or un-paid) to any third party, unless written permission is first obtained from Distributed Bio. Surrozen hereby
warrants that the rights and obligations set forth herein do not, and during the term of the Agreement will not, conflict with any other right or obligation provided under any other agreement that Surrozen has with any third party, including any
company or government entity. 
 17.    Indemnity. 

 

	 	a.	 Surrozen shall defend, indemnify and hold harmless Distributed Bio and its directors, officers and employees
from and against any loss, claims or liability of any kind brought by a third party (collectively, “Claims”) to the extent that such Claims arise out of, in connection with, or as a result of: (a) the use, handling, storage
transportation, containment or disposition of the Materials by Surrozen, (b) the research, development, manufacture, use, commercialization and other exploitation of a Surrozen Antibody Product(s), and (c) any breach of this Agreement by
Surrozen; except in each case, to the extent such liability arises from Distributed Bio’s gross negligence, willful misconduct or breach of this Agreement. 

  
 7 

	 	b.	 Distributed Bio will defend, indemnify and hold Surrozen, its directors, officers, employees and agents
harmless from and against any and all loss or expense by reason of Claims to the extent such Claims arise out of, are based on, or result from Distributed Bio’s gross negligence, willful misconduct or breach of this Agreement.

 18.    No Implied License. No license or other right is or shall be created or granted
hereunder by implication, estoppel, or otherwise. All licenses and rights are or shall be granted only as expressly provided in this Agreement. 

19.    Cost of Research. Surrozen shall be responsible for its own expenses in conducting the Research, and
Distributed Bio shall have no obligation to pay Surrozen therefor. 
 20.    Miscellaneous. Except as otherwise
provided herein, each Party hereto represents that it has the full right, power and authority to enter into this Agreement. This Agreement shall be construed and enforced in accordance with the laws of the United States of America and the State of
California without reference to conflicts of law principles. This Agreement sets forth the entire agreement between the Parties with respect to the subject matter contained herein and supersedes any previous understandings, commitments or
agreements, whether oral or written. This Agreement may only be amended by a written document signed by authorized representatives of both Parties hereto that specifically and expressly refers to this Agreement. 

Remainder of page intentionally left blank. 

Paragraph 21 and signatures follow immediately. 

  
 8 

 21.    Assignment. This Agreement may not be assigned or
otherwise transferred by either Party without the consent of the other Party which consent shall not be unreasonably withheld; provided , however, that Distributed Bio or Surrozen may, without such consent, assign this Agreement together with
all of its rights and obligations hereunder to its Affiliates, or to a successor in interest in connection with the transfer or sale of all or substantially all of its business to which this Agreement relates, or in the event of its merger,
consolidation, change of control, or similar transaction, subject in each such case to the assignee agreeing to be bound by the terms of this Agreement. Any purported assignment in violation of the preceding sentences shall be void. Any permitted
assignee or successor shall assume and be bound by all applicable obligations of its assignor or predecessor under this Agreement. [****] 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized representatives. 

 

									
	Distributed Bio, Inc.	 		 	Surrozen, Inc.
	(“Distributed Bio”)	 		 	(“Surrozen”)
					
	By:	 	 /s/ Giles Day
	 		 	By:	 	 /s/ Wen-Chen Yeh

	Name:	 	Giles Day	 		 	Name:	 	Wen-Chen Yeh
	Title:	 	President & CEO	 		 	Title:	 	CSO
					
	Date:	 	9/30/2017	 		 	Date:	 	Oct. 3, 2016
					
	Phone:	 	[****]	 		 	Phone:	 	[****]

 EXHIBIT A 

ANTIBODY LIBRARY 
 [****] 

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