Memorandum of Agreement

Iowa State University Research Park Corporation

2711 South Loop Drive, Suite 4050

Ames, Iowa 50010-8648

DATE:        July 9, 2015

TO:        Carl Langren, VP Finance

NewLink Genetics Corporation

2503 S. Loop Drive, Suite 5100

Ames, IA 50010

FROM:        Steven T. Carter, President

The following information constitutes changes to the Lease Agreement between ISU Research Park Corporation (Landlord) and NewLink Genetics Corporation (Tenant). Upon signatures of appropriate representatives of Landlord and Tenant affixed to this Memorandum, this Memorandum becomes a part of that Lease Agreement dated March 1, 2010.

Tenant has requested and Landlord agrees to lease Suite 2130 (±2,070 rentable square feet), Building #2 at 2625 North Loop Drive, in the following manner:

Sq. Ft.        Sq. Ft.        Monthly    Monthly    Annual     Annual

Base        Operating    Base        Operating    Base     Operating

Term        Rents        Rents        Rents        Rents        Rents     Rents

8/1/2015-

1/31/2018    $10.50        Actual        $1,811.25    Actual        $21,735.00    Actual

Tenant leases the space as is. Any modifications will be at the Tenant’s sole expense. Tenant is responsible for all utility costs and operations. Subject to the terms of this Memorandum, Tenant agrees that all terms and conditions of the March 1, 2010 Lease and those described in this Memorandum shall remain in force.

NewLink Genetics Corporation

Page Two

July 9, 2015

Please sign and return both originals to my office by July 15, 2015 if you concur with the above terms. We will then send a fully executed copy for your records.

FOR                            FOR

NewLink Genetics Corporation            ISU Research Park Corporation

/s/ Carl Langren                    /s/ Steven Carter

VP Finance                        Director

Title                            Title

July 9, 2015                        July 13, 2015

Date                            Date