Amendment to License Agreement between Aduro Biotech, Inc. and Karagen Pharmaceuticals, Inc.
Aduro Biotech, Inc. and Karagen Pharmaceuticals, Inc. have agreed to amend their existing License Agreement, originally effective June 20, 2012. Starting June 20, 2015, the annual minimum royalty payment owed by Karagen to Aduro will increase from $15,000 to $39,000. All other terms of the License Agreement remain unchanged and in effect. Both parties have signed to confirm their agreement to this amendment.
Exhibit 10.38
June 5, 2015
Lize Davis-Karaolis
President
Karagen Pharmaceuticals, Inc.
4 Club Road
Baltimore, MD 21210
Dear Ms. Lize Davis-Karaolis:
We reference Section 4.2.2 of the License Agreement effective as of June 20, 2012 by an between Aduro Biotech, Inc. and Karagen Pharmaceuticals, Inc. (the “License Agreement”). Aduro agrees to increase the annual minimum royalty from Fifteen Thousand Dollars ($15,000) to Thirty-nine Thousand Dollars ($39,000) beginning as of June 20, 2015. No other changes are made to the License Agreement and it remains in full force and effect.
Please indicate your agreement to the above by signing below where indicated.
ADURO BIOTECH, INC.
By _/s/ Stephen T. Isaacs______
Name: Stephen T. Isaacs
Title: Chairman & CEO
Acknowledged and Agreed:
KARAGEN PHARMACEUTICALS, INC.
By _/s/ Lisezotte Davis________
Name: Lisezotte Davis
Title: President
626 Bancroft Way, 3C Berkeley, CA ###-###-#### Phone ###-###-#### Fax ###-###-#### www.adurobiotech.com
