0001467154-19-000069 Sample Contracts

ROYALTY AND MILESTONE PAYMENTS PURCHASE AGREEMENT
Royalty and Milestone Payments Purchase Agreement • August 13th, 2019 • Novan, Inc. • Pharmaceutical preparations • North Carolina

This Royalty and Milestone Payments Purchase Agreement (this “Agreement”) is entered into as of April 29, 2019 (the “Effective Date”) by and between Novan, Inc., a Delaware corporation (“Novan”), and Reedy Creek Investments LLC, a North Carolina limited liability company (“Reedy Creek”). Novan and Reedy Creek are also referred to individually as a “Party” and together as the “Parties”.

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DEVELOPMENT FUNDING AND ROYALTIES AGREEMENT
Development Funding and Royalties Agreement • August 13th, 2019 • Novan, Inc. • Pharmaceutical preparations • New York

THIS DEVELOPMENT FUNDING AND ROYALTIES AGREEMENT (this “Agreement”) is made and entered into effective as of May 4, 2019 (the “Effective Date”) by and between LIGAND PHARMACEUTICALS INCORPORATED, a Delaware corporation having a place of business at 3911 Sorrento Valley Boulevard, Suite 110, San Diego, California 92121, U.S.A. (“Ligand”), and NOVAN, INC., a Delaware corporation having a place of business at 4105 Hopson Road, Morrisville, North Carolina 27560, U.S.A., and its Affiliates (“Novan”). Novan and Ligand may be referred to herein individually as a “Party” or collectively as the “Parties.”

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