<SEC-DOCUMENT>0001193125-20-009556.txt : 20200117
<SEC-HEADER>0001193125-20-009556.hdr.sgml : 20200117
<ACCEPTANCE-DATETIME>20200117083032
ACCESSION NUMBER:		0001193125-20-009556
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200115
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200117
DATE AS OF CHANGE:		20200117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CATALYST BIOSCIENCES, INC.
		CENTRAL INDEX KEY:			0001124105
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				562020050
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51173
		FILM NUMBER:		20532324

	BUSINESS ADDRESS:	
		STREET 1:		611 GATEWAY BLVD., SUITE 710
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		650-871-0761

	MAIL ADDRESS:	
		STREET 1:		611 GATEWAY BLVD., SUITE 710
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TARGACEPT INC
		DATE OF NAME CHANGE:	20000919
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d847025d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, DC 20549 </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): January&nbsp;15, 2020 </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>CATALYST BIOSCIENCES, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="34%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">000-51173</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">56-2020050</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation or organization)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>611 Gateway Blvd, Suite 710, South San Francisco, CA 94080 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(650) <FONT STYLE="white-space:nowrap">871-0761</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report.) </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section&nbsp;12(b) of the Act: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Trading</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Symbol(s)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Name of each exchange</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>on which registered</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Common Stock</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>CBIO</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>Nasdaq</B></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;13, 2020, Catalyst Biosciences, Inc. (the &#147;Company&#148;) entered into a Cooperation Agreement (the &#147;Cooperation Agreement&#148;),
with CCUR Holdings, Inc., JDS1, LLC (&#147;JDS1&#148;), David Oros, Julian Singer and William Barr, Jr. (collectively, the &#147;Investors&#148;). As of the date of the Cooperation Agreement, the Investors beneficially owned an aggregate of 927,280
shares, or approximately 7.70%, of outstanding common stock. Under the Cooperation Agreement, as of January&nbsp;15, 2020, the Company has appointed Geoffrey Shiu Fei Ling, M.D., Ph.D. to the Board of Directors (the &#147;Board&#148;) as a
Class&nbsp;I director with a term to expire at the Company&#146;s 2022 annual meeting of stockholders (the &#147;2022 Annual Meeting&#148;), and Sharon Tetlow to the Board as a Class&nbsp;III director with a term to expire at the Company&#146;s 2021
annual meeting of stockholders (the &#147;2021 Annual Meeting&#148;). In connection with these appointments, current directors Jeff Himawan, Ph.D. and John P. Richard will not stand for <FONT STYLE="white-space:nowrap">re-election</FONT> to the
Board at the Company&#146;s 2020 annual meeting of stockholders (the &#147;2020 Annual Meeting&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject to certain expiration provisions, if
Dr.&nbsp;Ling or Ms.&nbsp;Tetlow (or any respective replacement director) resigns or is unable to serve as a director, JDS1 will have customary rights to suggest a replacement director for Dr.&nbsp;Ling (or his replacement), or to approve a Company
proposed replacement director for Ms.&nbsp;Tetlow (or her replacement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company agreed to take all necessary actions to appoint Dr.&nbsp;Ling as a
member of at least one committee or subcommittee of the Board. Each of the Investors has agreed that at the 2020 Annual Meeting they will vote all of their shares in favor of (i)&nbsp;any incumbent director nominated by the Board and (ii)&nbsp;any
ordinary course proposal supported by the Board. However, if the recommendation of Institutional Shareholder Services Inc. (&#147;ISS&#148;) differs from the Board&#146;s recommendation with respect to any matter (other than the election of
directors), the Investors shall have the right to vote in accordance with the recommendation of ISS with respect to such matters, and nothing shall restrict the Investors from voting or taking any position on any stockholder approval for any
extraordinary transaction, such as a merger, material acquisition or a liquidation or winding up of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Investors agreed to certain
standstill provisions commencing on the date of the Cooperation Agreement and ending on the earlier of (i)&nbsp;the 30th day preceding the opening of the nomination window for submission of director nominations for the 2021 Annual Meeting,
(ii)&nbsp;a material breach by the Company of its obligations, (iii)&nbsp;any announcement of a proposed a change of control and (iv)&nbsp;if the Company&#146;s organizational documents are changed to impair stockholders&#146; ability to submit
director nominations for stockholder meetings after the 2020 Annual Meeting (the &#147;Standstill Period&#148;). Each of the Company and each Investor also agreed to customary mutual <FONT STYLE="white-space:nowrap">non-disparagement</FONT>
obligations, and during the Standstill Period, the Company has agreed to, among other customary terms, use commercially reasonable efforts to provide notice and a limited opportunity to participate in future financing transactions, subject to
certain <FONT STYLE="white-space:nowrap">cut-back</FONT> rights. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A copy of the Cooperation Agreement is included as Exhibit 10.1. The foregoing
description of the Cooperation Agreement is qualified in its entirety by reference to the full text of the Cooperation Agreement, which is incorporated herein by reference. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon the recommendation of the Governance and Nominating Committee and as contemplated by the
Cooperation Agreement, the Board appointed, effective as of January&nbsp;15, 2020 (the &#147;Effective Date&#148;), Dr.&nbsp;Ling as a Class&nbsp;I director of the Company with a term to expire at the 2022 Annual Meeting and Ms.&nbsp;Tetlow as a
Class&nbsp;III director of the Company with a term to expire at the 2021 Annual Meeting. The Board approved an increase in the size of the Board, from seven to nine members, effective as of the Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dr.&nbsp;Ling, 63 years old, has been Professor of Neurology and Attending Neuro Critical Care Physician at Johns Hopkins Medical Institutions since 2000 and
the Emeritus Professor of Neurology, Uniformed Services University of the Health Science since 2017. He has also been Vice-Chair of Research in the Department of Clinical Neurosciences at Inova Fairfax Medical Center, Fairfax, Virginia since 2017.
He is the <FONT STYLE="white-space:nowrap">co-founder</FONT> of Predigen, Inc., a privately held company and the chief executive officer and founder of On Demand Pharmaceuticals, Inc., a privately held company. Dr.&nbsp;Ling is on the boards of
several privately held companies which include Wheel Bio, MindX Corp. and NED Biosystems Inc. Dr.&nbsp;Ling served as the director of the Defense Advanced Research Projects Agency (DARPA) Biological Technologies Office from 2004 to 2015.
Dr.&nbsp;Ling holds a B.S. in Biology and History from Washington University, a Ph.D. in Pharmacology from Cornell University &#150; Graduate School of Medical Sciences and an M.D. from Georgetown University School of Medicine. The Board believes
that Dr.&nbsp;Ling&#146;s experience in the healthcare industry as an executive in the pharmaceutical industry, drug development and research work for both medical and academic institutions qualify him to serve as a director of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Tetlow, 60 years old, has served as Managing Partner of Potrero Hill Advisors since January 2016. Potrero Hill Advisors provides strategic and
operational financial support to life science companies through its team of chief financial officers and controllers. Ms.&nbsp;Tetlow was previously the Managing Director of Danforth Advisors from April 2013 to January 2016. She served as Chief
Financial Officer of Pathwork Diagnostics, Inc., a privately held biotechnology company, from 2011 to 2013. From 2005 to 2009, she served as Chief Financial Officer of Cell Genesys, Inc., (CEGE) a publicly traded biotechnology company. In connection
with her role as managing partner of Potreto Hill Advisors, Ms.&nbsp;Tetlow has led the finance function at several biotechnology and pharmaceutical companies, including 4D Molecular Therapeutics Inc., and Ocera Therapeutics Inc., two privately held
companies and Allakos Inc. and CytomX Inc., two publicly traded companies. Ms.&nbsp;Tetlow was previously on the board of directors of Armetheon, Inc., a privately held company. Ms.&nbsp;Tetlow holds a B.A. in Psychology from University of Delaware
and an M.B.A. from Stanford University. The Board believes that Ms.&nbsp;Tetlow&#146;s significant experience in corporate finance and strategic planning in the biotechnology and pharmaceutical industries, including her experience as chief financial
officer and board member of various publicly traded companies, qualify her to serve as a director of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neither Dr.&nbsp;Ling nor
Ms.&nbsp;Tetlow has any family relationships with any of the Company&#146;s directors or executive officers and none is a party to any transactions of the type listed in Item 404(a) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dr.&nbsp;Ling and Ms.&nbsp;Tetlow will each receive, cash and equity compensation, in accordance with the
Company&#146;s existing <FONT STYLE="white-space:nowrap">non-employee</FONT> director compensation policy, and will enter into an indemnification agreement with the Company consistent with the form agreement executed with each of the Company&#146;s
current directors. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01. Other Events. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On
January&nbsp;17, 2020, the Company issued a press release announcing the appointment of Dr.&nbsp;Ling and Ms.&nbsp;Tetlow to the Board and the execution of the Cooperation Agreement described in Item 1.01. A copy of the press release is filed as
Exhibit 99.1 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> and is incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01.
Financial Statements and Exhibits </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Exhibit&nbsp;No.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center">Description</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d847025dex101.htm">Cooperation Agreement, effective as of January&nbsp;13, 2020, between Catalyst Biosciences, Inc. and certain Investors specified therein. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d847025dex991.htm">Press release dated January&nbsp;17, 2020 and titled &#147;Catalyst Biosciences Announces Addition of Geoffrey Shiu Fei Ling, M.D. and Sharon Tetlow to Board of Directors.&#148; </A></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="49%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">CATALYST BIOSCIENCES, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: January&nbsp;17, 2020</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Nassim Usman, Ph.D.</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Nassim Usman, Ph.D.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">President and Chief Executive Officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 5 - </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d847025dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Execution Version </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Confidential </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Cooperation
Agreement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">This <B>Cooperation Agreement</B> is made and entered into as of January&nbsp;13,&nbsp;2020 (this
&#147;<B><I>Agreement</I></B>&#148;) by and among Catalyst Biosciences, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), and each of the parties listed on <B><U>Exhibit A</U></B> hereto (each, an
&#147;<B><I>Investor</I></B>&#148; and collectively, the &#147;<B><I>Investors</I></B>&#148;). The Company and the Investors are referred to herein as the &#147;<B><I>Parties</I></B>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman"><B>Whereas</B>, each of the Investors beneficially owns the number of shares of the Company&#146;s common stock, par value $0.001 per share
(the &#147;<B><I>Common Stock</I></B>&#148;) listed on <B><U>Exhibit A</U></B> hereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman"><B>Whereas</B>, the Company has reached an
agreement with each of the Investors with respect to certain matters related to the Company&#146;s board composition and certain other matters, as provided in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman"><B>Now, Therefore</B>, in consideration of the premises and mutual covenants and agreements set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Investors, on a several and not joint basis, and the Company hereby agree as follows: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;1.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Director Appointments</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>New Directors</U></B>. Within five (5)&nbsp;business days of the execution of this Agreement, the Board of
Directors of the Company (the &#147;<B><I>Board</I></B>&#148;) shall irrevocably appoint Sharon Tetlow and Geoffrey Ling, M.D. (the &#147;<B><I>New Directors</I></B>&#148; and all references herein to the &#147;<B><I>New Directors</I></B>&#148;
shall include any Replacement Directors (as defined below)) as directors of the Company, effective January&nbsp;15, 2020, with Ms.&nbsp;Tetlow becoming a Class&nbsp;III director whose term shall expire at the 2021 annual meeting of the
Company&#146;s stockholders, and Dr.&nbsp;Ling becoming a Class&nbsp;I director whose term shall expire at the 2022 annual meeting of the Company&#146;s stockholders. Immediately following Dr.&nbsp;Ling&#146;s appointment as a New Director, the
Board shall take all necessary actions (including, if necessary, by unanimous written consent) to cause Dr.&nbsp;Ling to be appointed to one (1)&nbsp;committee or subcommittee of the Board that Dr.&nbsp;Ling requests to join, and any additional
committee or subcommittee participation shall be at the discretion of the Governance and Nominating Committee of the Board (the &#147;<B><I>Governance and Nominating Committee</I></B>&#148;). Each New Director has agreed in writing that he or she
understands and acknowledges that all members of the Board are required to comply with all policies, procedures, processes, codes, rules, standards and guidelines applicable to all Board members, including the Company&#146;s code of business conduct
and ethics, securities trading policies, director confidentiality policies (including agreeing to preserve the confidentiality of Company business, information and discussions of matters considered in meetings of the Board or Board committees), and
corporate governance guidelines, in each case as heretofore provided to the New Directors. Each New Director and each Investor shall provide the Company with such information concerning such New Director or such Investor, as the case may be, as is
required to be disclosed under applicable law or stock exchange regulations, in each case as promptly as necessary to enable timely filing of the Company&#146;s proxy statement. Each New Director shall also inform the Company of any financial
arrangements between any of the Investors and such New Director related to such New Director&#146;s service with the Company, including without limitation any financial arrangement related to the Company&#146;s market valuation or other financial
performance metrics. Notwithstanding anything herein to the contrary, the Investors shall have no liability hereunder with respect to any of the obligations of Ms.&nbsp;Tetlow or the Tetlow Replacement Director described under this Agreement, and
the failure of Ms.&nbsp;Tetlow and the Tetlow Replacement Director to comply with such obligations shall not be a breach or violation of this Agreement by the Investors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Board Composition</U></B>. As promptly as practicable following the date of this Agreement, the Board shall
take all necessary actions to set the size of the Board at nine (9)&nbsp;members </P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
solely to accommodate the appointment of the New Directors in accordance with this Agreement. Immediately prior to the 2020 annual meeting of the Company&#146;s stockholders (the &#147;<B><I>2020
</I></B><B><I>Annual Meeting</I></B>&#148;), the Board shall take all necessary actions to (i)&nbsp;set the size of the Board at seven (7)&nbsp;members so that, assuming the election of each current Class&nbsp;II director standing for <FONT
STYLE="white-space:nowrap">re-election,</FONT> there are no vacancies on the Board and (ii)&nbsp;distribute the classes of directors of the Board as equally as possible; <I>provided</I>, <I>however</I>, that after giving effect to the foregoing the
New Directors shall remain members of the classes indicated for each thereof in <B>Section</B><B></B><B>&nbsp;1(a)</B>. During the Standstill Period (as defined below) except as expressly stated above for the period before the 2020 Annual Meeting,
neither the Board nor any committee of the Board shall modify the size of the Board from seven (7)&nbsp;directors without the unanimous approval of the Board. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Replacement Directors</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;During the Standstill Period, if Dr.&nbsp;Ling (or any Ling Replacement Director (as defined below)) is unable or
unwilling to serve as a director (including as a result of not being elected at any annual meeting), resigns as a director or is removed as a director, JDS1, LLC (&#147;<B><I>JDS1</I></B>&#148;) shall have the ability to recommend a substitute
person to replace Dr.&nbsp;Ling (or any Ling Replacement Director) in accordance with this <B>Section</B><B></B><B>&nbsp;1(c)(i)</B> (any such replacement director shall be referred to as the &#147;<B><I>Ling Replacement Director</I></B>&#148;).
Each candidate for Ling Replacement Director recommended by JDS1 must qualify as an &#147;independent director&#148; for purposes of the listing qualification rules of the Nasdaq Stock Market. The Governance and Nominating Committee shall consider
the qualifications and background of such candidate and make its determination and recommendation regarding whether such candidate is suitable for the Board within five (5)&nbsp;business days after such candidate has submitted to the Company any
documentation required by <B>Section</B><B></B><B>&nbsp;1(a)</B> herein. In the event the Governance and Nominating Committee does not accept a substitute person recommended by JDS1 as the Ling Replacement Director (given that the Governance and
Nominating Committee cannot unreasonably withhold its consent), JDS1 shall have the right to recommend additional substitute person(s) whose appointment shall be subject to the Governance and Nominating Committee recommending such person in
accordance with the procedures described above. Upon the recommendation of a Ling Replacement Director candidate by the Governance and Nominating Committee, the Board shall review, approve and vote on the appointment of such Ling Replacement
Director to the Board no later than five (5)&nbsp;business days after the Governance and Nominating Committee&#146;s recommendation of such Ling Replacement Director; <U>provided</U>, <U>however</U>, that if the Board does not approve and appoint
such Ling Replacement Director to the Board, the Parties shall continue to follow the procedures of this <B>Section</B><B></B><B>&nbsp;1(c)(i)</B> until a Ling Replacement Director is approved and appointed to the Board. Notwithstanding the
foregoing, if JDS1 has followed the procedures set forth in this <B>Section</B><B></B><B>&nbsp;1(c)(i)</B> four times to replace Dr.&nbsp;Ling (or any Ling Replacement Director), the fourth candidate for Ling Replacement Director recommended by JDS1
shall be approved and appointed to the Board by the Board no later than five (5)&nbsp;business days after recommendation by JDS1, unless the Board reasonably and in good faith determines that such candidate lacks the appropriate experience to act as
a member of the board of directors of a public company in the industry in which the Company operates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;During
the Standstill Period, if Ms.&nbsp;Tetlow (or any Tetlow Replacement Director (as defined below)) is unable or unwilling to serve as a director (including as a result of not being elected at any annual meeting), resigns as a director or is removed
as a director, the Board shall have the ability to recommend a substitute person to JDS1 to replace Ms.&nbsp;Tetlow (or any Tetlow Replacement Director) in accordance with this <B>Section</B><B></B><B>&nbsp;1(c)(ii)</B> (any such replacement
director shall be referred to as the &#147;<B><I>Tetlow Replacement Director</I></B>&#148; and, together with the Ling Replacement Director, the &#147;<B><I>Replacement Directors</I></B>&#148;). Each candidate for Tetlow Replacement Director
recommended by the Board must qualify as an &#147;independent director&#148; for purposes of the listing qualification rules of the Nasdaq Stock Market. JDS1 shall consider the qualifications and background of such candidate and make its
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
determination and recommendation regarding whether such candidate is suitable for the Board within five (5)&nbsp;business days after such candidate has submitted to the Company any documentation
required by <B>Section</B><B></B><B>&nbsp;1(a)</B> herein. In the event that JDS1 does not approve a substitute person recommended by the Board as the Tetlow Replacement Director (given that JDS1 cannot unreasonably withhold its consent), the Board
shall have the right to recommend additional substitute person(s) whose appointment shall be subject to JDS1 approving such person in accordance with the procedures described above. Upon the approval of a Tetlow Replacement Director candidate by
JDS1, the Board shall approve and vote on the appointment of such Tetlow Replacement Director to the Board no later than five (5)&nbsp;business days after JDS1&#146;s approval of such Tetlow Replacement Director; <I>provided</I>, <I>however</I>,
that if the Board does not approve and appoint such Tetlow Replacement Director to the Board, the Parties shall continue to follow the procedures of this <B>Section</B><B></B><B>&nbsp;1(c)(ii)</B> until a Tetlow Replacement Director is approved and
appointed to the Board. Notwithstanding the foregoing, if the Board has followed the procedures set forth in this <B>Section</B><B></B><B>&nbsp;1(c)(ii)</B> four times to replace Ms.&nbsp;Tetlow (or a Tetlow Replacement Director), the fourth
candidate for Tetlow Replacement Director recommended by the Board shall be approved and appointed to the Board by the Board no later than five (5)&nbsp;business days after recommendation by the Board, unless JDS1 reasonably and in good faith
determines that such candidate lacks the appropriate experience to act as a member of the board of directors of a public company in the industry in which the Company operates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;JDS1&#146;s rights set forth in this <B>Section</B><B></B><B>&nbsp;1(c)</B> shall terminate upon the earlier of
(i)&nbsp;the time at which JDS1, CCUR Holdings, Inc., Julian Singer and each of their Affiliates collectively hold less than 3% of the fully-diluted capital stock of the Company and (ii)&nbsp;the end of the Standstill Period (as defined below). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;2.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>2020 Annual Meeting</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Director Nominees</U></B>. Subject to the Investors complying with the terms of this Agreement, the Board
hereby agrees to nominate a slate of directors at the 2020 Annual Meeting which consists of (i)&nbsp;the Class&nbsp;II member(s) of the Board as of the date thereof, but <I>excluding</I> (iii)&nbsp;each of Jeff Himawan, Ph.D., a Class&nbsp;II
director of the Company, and John P. Richard, a Class&nbsp;II director of the Company (Messrs. Himawan and Richard referred to collectively as the &#147;<B><I>Departing Directors</I></B>&#148;). Each Departing Director&#146;s term as a member of the
Board shall expire at the 2020 Annual Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Proposals</U></B>. Subject to the Company complying with
the terms of this Agreement, each Investor hereby agrees not to, and to cause any Affiliate of such Investor not to, bring any business (including director nominees) or proposals before or at the 2020 Annual Meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Voting by Investors</U></B>. At the 2020 Annual Meeting, each of the Investors agrees to vote all shares of
Common Stock beneficially owned by each Investor and its Affiliates (as defined below)&nbsp;(i) in favor of the election of any incumbent director nominated by the Board and (ii)&nbsp;otherwise in accordance with the Board&#146;s recommendation on
all other ordinary course matters recommended for stockholder approval by the Board, including with respect to the auditor of the Company and any <FONT STYLE="white-space:nowrap">&#147;say-on-pay&#148;</FONT> vote (items (i)&nbsp;and (ii) being
referred to herein as &#147;<B><I>Ordinary Matters</I></B>&#148;); <I>provided</I>, <I>however</I>, (x)&nbsp;in the event that Institutional Shareholders Services (ISS) recommends otherwise with respect to any such proposals (other than the election
of directors), each of the Investors shall be permitted to vote in accordance with the ISS recommendation and (y)&nbsp;nothing in this Agreement (including without limitation with respect to <B>Section</B><B></B><B>&nbsp;3</B> below) shall restrict
an Investor from voting freely or taking any position in public or private on any stockholder approval for any extraordinary transaction, such as a merger, material acquisition or disposition, or a liquidation and winding up of the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Definitions</U></B>. As used in this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;the term &#147;<B><I>Affiliate</I></B>&#148; shall have the respective meanings set forth in Rule <FONT
STYLE="white-space:nowrap">12b-2</FONT> promulgated by the Securities and Exchange Commission (the &#147;<B><I>SEC</I></B>&#148;) under the Securities Exchange Act of 1934, as amended (the &#147;<B><I>Exchange Act</I></B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;the terms &#147;<B><I>beneficial owner</I></B>&#148; and &#147;<B><I>beneficial ownership</I></B>&#148; shall
have the same meanings as set forth in Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> promulgated by the SEC under the Exchange Act; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;the term &#147;<B><I>change of control</I></B>&#148; shall mean the sale of all or substantially all the assets
of the Company; any merger, consolidation or acquisition of the Company with, by or into another corporation, entity or person; or any change in the ownership of more than 50% of the voting capital stock of the Company in one or more related
transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;the terms &#147;<B><I>person</I></B>&#148; or &#147;<B><I>persons</I></B>&#148; shall mean any
individual, corporation (including <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">not-for-profit),</FONT></FONT> general or limited partnership, limited liability company, joint venture, estate, trust, association, organization or
other entity of any kind or nature. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;3.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Standstill</U></B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Standstill</U></B>. Each Investor agrees that, for the period commencing on the date of this Agreement and
ending on the earliest of (i)&nbsp;the thirtieth (30th) calendar day preceding the opening of the nomination window for submission of director nominees at the Company&#146;s 2021 Annual Meeting, (ii)&nbsp;a material breach by the Company of its
obligations under this Agreement which is not cured within five (5)&nbsp;business days after written notice from any Investor, (iii)&nbsp;an announcement by the Company of any type of transaction involving a change of control in the Company and
(iv)&nbsp;the adoption by the Board of any amendment to any of the organizational documents of the Company that would impair the ability of stockholders to submit director nominations in connection with stockholder meetings after the 2020 Annual
Meeting (the &#147;<B><I>Standstill Period</I></B>&#148;), neither it nor any of its Affiliates will, and it will cause each of its Affiliates not to, directly or indirectly, in any manner other than pursuant to
<B>Section</B><B></B><B>&nbsp;6(c)</B>, acting alone or in concert with others: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;submit any stockholder
proposal (pursuant to Rule <FONT STYLE="white-space:nowrap">14a-8</FONT> promulgated by the SEC under the Exchange Act or otherwise) or any notice of nomination or other business for consideration, or nominate any candidate for election to the Board
(including by way of Rule <FONT STYLE="white-space:nowrap">14a-11</FONT> of Regulation 14A), other than as expressly permitted by this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;engage in, directly or indirectly, any &#147;solicitation&#148; (as defined in Rule <FONT
STYLE="white-space:nowrap">14a-1</FONT> of Regulation 14A) of proxies (or written consents) or otherwise become a &#147;participant in a solicitation&#148; (as such term is defined in Instruction 3 of Schedule 14A of Regulation 14A under the
Exchange Act) in opposition to the recommendation or proposal of the Board, or recommend or request or induce or attempt to induce any other person to take any such actions, or seek to advise, encourage or influence any other person with respect to
the voting of the Common Stock (including any withholding from voting) or grant a proxy with respect to the voting of the Common Stock or other voting securities to any person other than to the Board or persons appointed as proxies by the Board;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;seek to call, or to request the call of, a special meeting of the Company&#146;s stockholders, or make a
request for a list of the Company&#146;s stockholders or for any books and records of the Company; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;form,
join in or in any other way participate in a &#147;partnership, limited partnership, syndicate or other group&#148; within the meaning of Section&nbsp;13(d)(3) of the Exchange Act with respect to the Common Stock or deposit any shares of Common
Stock in a voting trust or similar arrangement or subject any shares of Common Stock to any voting agreement or pooling arrangement, other than a group consisting only of some or all of the Investors and their Affiliates; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;vote for any nominee or nominees for election to the Board,
other than those nominated or supported by the Board; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi)&nbsp;&nbsp;&nbsp;&nbsp;except as specifically provided in
<B>Section</B><B></B><B>&nbsp;1</B> and <B>Section</B><B></B><B>&nbsp;2</B> of this Agreement, seek to place a representative or other Affiliate or nominee on the Board or seek the removal of any member of the Board or a change in the size or
composition of the Board; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vii)&nbsp;&nbsp;&nbsp;&nbsp;acquire or agree, offer, seek or propose to acquire, or cause to be acquired,
ownership (including beneficial ownership) of any of the assets or business of the Company or any rights or options to acquire any such assets or business from any person, in each case other than securities of the Company; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(viii)&nbsp;&nbsp;&nbsp;&nbsp;other than at the direction of the Board, seek, propose or make any statement (other than to one or more
members of the Board or management or its advisors or agents) with respect to, or solicit, or negotiate with or provide any information to any person with respect to, a merger, consolidation, acquisition of control or other business combination,
tender or exchange offer, purchase, sale or transfer of assets or securities, dissolution, liquidation, reorganization, change in structure or composition of the Board, change in the executive officers of the Company, change in capital structure,
recapitalization, dividend, share repurchase or similar transaction involving the Company, its subsidiaries or its business, whether or not any such transaction involves a change of control of the Company (it being understood that the foregoing
shall not restrict the Investors from tendering Common Stock, receiving payment for Common Stock or otherwise participating in any such transaction on the same basis as other stockholders of the Company, or from participating in any such transaction
that has been approved by the Board); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ix)&nbsp;&nbsp;&nbsp;&nbsp;acquire, announce an intention to acquire, offer or propose to
acquire, or agree to acquire, directly or indirectly, by purchase or otherwise, beneficial ownership of (A)&nbsp;any interests in the Company&#146;s indebtedness or (B)&nbsp;an aggregate amount of more than 14.99% of the Company&#146;s outstanding
Common Stock (which shall not include Common Stock issued in connection with a stock split, stock dividend or similar corporate action initiated by the Company with respect to any securities beneficially owned by any of the Investors or their
Affiliates); <I>provided</I>, <I>however</I>, nothing herein shall prevent any Investor from confidentially seeking a waiver from this provision; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(x)&nbsp;&nbsp;&nbsp;&nbsp;short sell the Company&#146;s capital stock, or otherwise pledge, hypothecate or put any liens against the
Company&#146;s capital stock, except that an Investor may partake in customary margin transactions with a broker regulated by FINRA; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(xi)&nbsp;&nbsp;&nbsp;&nbsp;disclose publicly, or privately in a manner that could reasonably be expected to become public, any intention,
plan or arrangement inconsistent with the foregoing; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(xii)&nbsp;&nbsp;&nbsp;&nbsp;take any action challenging the validity or
enforceability of any provisions of this <B>Section</B><B></B><B>&nbsp;3</B>; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;enter into any agreement,
arrangement or understanding concerning any of the foregoing (other than this Agreement) or encourage or solicit any person to undertake any of the foregoing activities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, including,
without limitation, <B>Section</B><B></B><B>&nbsp;6</B>, nothing in this Agreement shall prohibit or restrict (i)&nbsp;any director of the Company, including any New Director, from exercising his or her rights and fiduciary duties as a director of
the Company (it being recognized that this clause shall not limit each director&#146;s duty to comply with Board policies regarding confidentiality applicable to all members of the Board, including the obligation to refrain from sharing confidential
information of the Company with third parties without the prior authorization of the Board); or (ii)&nbsp;any New Director, or separately, any Investor or its directors, officers, partners, employees, members or agents (acting in such capacity)
(&#147;<B><I>Investor Representatives</I></B>&#148;) from communicating privately regarding or privately advocating for or against any of the matters described in this <B>Section</B><B></B><B>&nbsp;3</B> or otherwise regarding the management,
strategy, business or operations of the Company with, or from privately requesting a waiver of any of the foregoing provisions of this <B>Section</B><B></B><B>&nbsp;3</B> from, the Company&#146;s directors, officers or agents, (it being recognized
that no officer, director or agent of the Company shall be under any obligation under this Agreement to communicate with any Investor or any director, officer, partner, employee, member or agent thereof); <I>provided</I>,<I> however</I>, that for
each of <FONT STYLE="white-space:nowrap">sub-sections</FONT> (i)&nbsp;and (ii) above, in each case, so long as such communications or requests are not intended to, and would not reasonably be expected to, require any public disclosure of such
communications or requests. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;During the Standstill Period, the Company agrees that, other than in any manner
expressly allowed pursuant to <B>Section</B><B></B><B>&nbsp;6(c)</B>: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;the Board will not create any
&#147;executive committee&#148; of the Board, or delegate to any existing or new committee of the Board, responsibilities substantially similar to those of an executive committee; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;the Board and each committee and subcommittee of the Board shall ensure that during the Standstill Period the
existing responsibilities of any existing or new committee of the Board are not materially changed amongst such committees or delegated to any new committee, provided that for the sake of clarity, the Board may expand the duties of a given existing
committee so long as such new duties are not already the responsibility of an existing committee and do not violate the prohibition in Section&nbsp;3(c)(i); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;until the appointment of the New Directors, the Board will not amend any existing, or create any new agreement,
policy, code and guideline applicable to <FONT STYLE="white-space:nowrap">non-employee</FONT> directors of the Company, including those regarding confidentiality (collectively the &#147;<B><I>Guidelines</I></B>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;if the Company engages in any equity financing (including without limitation the sale of any warrant, option or
other convertible security) other than an Excluded Transaction, the Company will use commercially reasonable efforts, including without limitation contacting the Investor by phone and email (it being understood that notice of less than twenty four
hours may be reasonable depending on the nature of the financing), to enable the Investor to participate in such financing up to such Investor&#146;s pro rata amount of the shares offered in such financing based on Investor&#146;s ownership of
outstanding shares of the Company&#146;s common stock at such time, and subject to cutback of such Investor&#146;s participation in the financing if the Company determines in good faith that such participation would jeopardize the offering. An
&#147;Excluded Transaction&#148; means (a)&nbsp;the issuance of shares of capital stock upon the exercise of any warrants outstanding as of the date hereof, (b)&nbsp;the issuance of shares of capital stock upon the exercise of any options issuance
pursuant to any management incentive plan or arrangement approved by the Board of Directors or stockholders of the Company, (c)&nbsp;the issuance of shares of capital stock in connection with any acquisition, licensing agreement, distribution, joint
venture or other commercial or collaborative relationship or (d)&nbsp;the issuance of shares of capital stock in any &#147;at the market&#148; arrangement; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;the Company shall notify the Investors promptly, but in any
event within five (5)&nbsp;business days, upon any breach by the Company of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;4.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Representations and Warranties of the Company</U></B>. The Company
represents and warrants to the Investors that (a)&nbsp;the Company has the corporate power and authority to execute this Agreement and to bind it thereto, (b)&nbsp;this Agreement has been duly and validly authorized, executed and delivered by the
Company, constitutes a valid and binding obligation and agreement of the Company, and is enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles, (c)&nbsp;the Company has provided the Investors with true and complete copies of the Guidelines prior to the date
hereof, (e)&nbsp;there is currently no &#147;executive committee&#148; of the Board, or committee of the Board with responsibilities similar to those of an executive committee, and (f)&nbsp;the execution, delivery and performance of this Agreement
by the Company does not and will not violate or conflict with (i)&nbsp;any law, rule, regulation, order, judgment or decree applicable to it, or (ii)&nbsp;result in any breach or violation of or constitute a default (or an event which with notice or
lapse of time or both could become a default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, or any material
agreement, contract, commitment, understanding or arrangement to which the Company is a party or by which it is bound. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;5.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Representations, Warranties and Covenants of the Investors</U></B>. Each
Investor, on behalf of itself, severally and not jointly represents and warrants to the Company that (a)&nbsp;as of the date hereof, such Investor beneficially owns only the number of shares of Common Stock as described opposite its name on
<B><U>Exhibit A</U></B>, and <B><U>Exhibit A</U></B> includes all Affiliates of any Investors that own any securities of the Company beneficially or of record, (b)&nbsp;this Agreement has been duly and validly authorized, executed and delivered by
such Investor, and constitutes a valid and binding obligation and agreement of such Investor, enforceable against such Investor in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles, (c)&nbsp;such Investor has the authority to execute this Agreement on behalf of itself and the
applicable Investor associated with that signatory&#146;s name, and to bind such Investor to the terms hereof, (d)&nbsp;the execution, delivery and performance of this Agreement by such Investor does not and will not violate or conflict with
(i)&nbsp;any law, rule, regulation, order, judgment or decree applicable to it, or (ii)&nbsp;result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both could become a default) under or
pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which such
member is a party or by which it is bound and (e)&nbsp;no Investor has entered into any compensation arrangement with a New Director related to the Company. Each Investor further agrees until the Company&#146;s 2021 Annual Meeting, each such
Investor shall not enter into any compensation arrangement with a New Director (or any substitute therefor) related to the Company. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;6.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Mutual <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U></B>.<U>
</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Investor <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U></B>. Each Investor agrees
that, during the Standstill Period, neither it nor any of its Affiliates will, and it will cause each of its Affiliates not to, directly or indirectly, in any capacity or manner, publicly, by press release or similar public statement to the press,
securities analysts or media, or in any SEC filing, make, express, transmit speak, write, verbalize or otherwise communicate in any way (or cause, further, assist, solicit, encourage, support or participate in any of the foregoing), any remark,
comment, message, information, declaration, communication or other </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
statement of any kind, whether verbal, in writing, electronically transferred or otherwise, that might reasonably be construed to be derogatory or critical of, or negative toward, the Company or
any of its directors, officers, Affiliates, subsidiaries, employees, agents or representatives (collectively, the &#147;<B><I>Company Representatives</I></B>&#148;), or that reveals, discloses, incorporates, is based upon, discusses, includes or
otherwise involves any confidential or proprietary information of the Company or its subsidiaries or Affiliates, or to malign, harm, disparage, defame or damage the reputation or good name of the Company, its business or any of the Company
Representatives. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Company <FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U></B>. The Company
hereby agrees that, during the Standstill Period, neither it nor any of its Affiliates will, and it will cause each of its Affiliates not to, directly or indirectly, in any capacity or manner, publicly, by press release or similar public statement
to the press, securities analysts or media, or in any SEC filing, make, express, transmit, speak, write, verbalize or otherwise communicate in any way (or cause, further, assist, solicit, encourage, support or participate in any of the foregoing),
any remark, comment, message, information, declaration, communication or other statement of any kind, whether verbal, in writing, electronically transferred or otherwise, that might reasonably be construed to be derogatory or critical of, or
negative toward, any Investor or any Investor Representatives, or that reveals, discloses, incorporates, is based upon, discusses, includes or otherwise involves any confidential or proprietary information of any Investor or its subsidiaries or
Affiliates, or to malign, harm, disparage, defame or damage the reputation or good name of any Investor or Investor Representatives. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Exceptions</U></B>. Notwithstanding the foregoing, nothing in this <B>Section</B><B></B><B>&nbsp;6</B> or
elsewhere in this Agreement, including without limitation, <B>Section</B><B></B><B>&nbsp;3</B>, shall prohibit any Party from (1)&nbsp;announcing its views and vote on any Board-approved publicly announced proposals relating to any <FONT
STYLE="white-space:nowrap">non-Ordinary</FONT> Matters, so long as such announcement is limited to the merits of any such matter and does not disparage the Company&#146;s directors or officers in connection with such matter, including the decision
to pursue, approve or propose such matter, (2)&nbsp;making any statement consented to in writing by such other Parties, or (3)&nbsp;making any statement or disclosure required under the federal securities laws or other applicable laws;
<I>provided</I>, that such Party shall use reasonable best efforts to provide notice to the other Parties prior to making any such statement or disclosure required under the federal securities laws or other applicable laws that would otherwise be
prohibited by the provisions of this <B>Section</B><B></B><B>&nbsp;6</B>, and use reasonable best efforts to consider any comments of such other Parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;7.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Public Announcements</U></B>. No later than 5:00 p.m. Pacific time, on
Friday January&nbsp;17, 2020, the Company shall issue a press release in form and substance reasonably agreed between the Parties (the &#147;<B><I>Agreement Press Release</I></B>&#148;). No Party or any of its Affiliates shall make any public
statement (including, without limitation, in any filing required under the Exchange Act) concerning the subject matter of this Agreement inconsistent with this Agreement and the Agreement Press Release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;8.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Expenses</U></B>. Each Party shall be responsible for its own fees and
expenses incurred in connection with the negotiation, execution and effectuation of this Agreement and the transactions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;9.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Specific Performance</U></B>. Each of the Investors, on the one hand, and
the Company, on the other hand, acknowledges and agrees that irreparable injury to the other Party hereto may occur in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise
breached and that such injury would not be adequately compensable in monetary damages. It is accordingly agreed that the Investors or any Investor, on the one hand, and the Company, on the other hand (the &#147;<B><I>Moving Party</I></B>&#148;),
shall each be entitled to seek specific enforcement of, and injunctive or other equitable relief to prevent any violation of, the terms hereof, and the other party hereto will not take action, directly or indirectly, in opposition to the Moving
Party seeking such relief on the grounds that any other remedy or relief is available. </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;10.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Notice</U></B>. Any
notices, consents, determinations, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered: (i)&nbsp;upon receipt, when delivered personally; or
(ii)&nbsp;one (1) business day after deposit with a nationally recognized overnight delivery service and concurrently sent by <FONT STYLE="white-space:nowrap">e-mail,</FONT> in each case properly addressed to the party to receive the same. The
addresses and <FONT STYLE="white-space:nowrap">e-mail</FONT> addresses for such communications shall be: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><U>To the Company: </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Catalyst Biosciences, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attention: Nassim Usman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">611
Gateway Blvd., Suite 710 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">South San Francisco, CA 94080 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Telephone: (650) <FONT STYLE="white-space:nowrap">871-0761</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> nusman@catbio.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">with a copy to (which shall not constitute notice): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Orrick, Herrington&nbsp;&amp; Sutcliffe LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attention: Stephen Thau </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Columbia
Center </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1152 15<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Street, N.W. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20005 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Telephone: (202) <FONT STYLE="white-space:nowrap">339-8677</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> sthau@orrick.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><U>To the Investors</U>:&nbsp;&nbsp;&nbsp;&nbsp;As set forth in the respective addresses listed in <B><U>Exhibit A</U></B><B> </B>hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;11.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Governing Law</U></B>. This Agreement shall be governed by, and construed
in accordance with, the law of the State of Delaware, without regard to conflict of law principles thereof, and each Party irrevocably submits to the personal jurisdiction of the Chancery Court of Delaware as the exclusive venue for adjudication of
any dispute hereunder.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;12.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Entire Agreement</U></B>. This Agreement
constitutes the full and entire understanding and agreement among the Parties with regard to the subject matter hereof, and supersedes all prior agreements with respect to the subject matter hereof. The Company may enter into a materially similar
agreement with one or more other investors but any such agreement shall constitute a separate obligation and one investor shall not become a third party beneficiary of another investor&#146;s agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;13.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Receipt of Adequate Information; No Reliance; Representation by
Counsel</U></B>. Each Party acknowledges that it has received adequate information to enter into this Agreement, that it has not relied on any promise, representation or warranty, express or implied not contained in this Agreement and that it has
been represented by counsel in connection with this Agreement. Accordingly, any rule of law or any legal decision that would provide any party with a defense to the enforcement of the terms of this Agreement against such party shall have no
application and is expressly waived. The provisions of this Agreement shall be interpreted in a reasonable manner to effect the intent of the Parties. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;14.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Severability</U></B>. If
any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only
in part or degree shall remain in full force and effect to the extent not held invalid or unenforceable. The Parties further agree to replace such invalid or unenforceable provision of this Agreement with a valid and enforceable provision that will
achieve, to the extent possible, the purposes of such invalid or unenforceable provision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;15.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Liability</U></B>. For the avoidance of doubt, the Investors are entering
into this Agreement on a several and not joint basis. Any liability arising hereunder with respect to a specific Investor shall only apply to such specific Investor and shall not be shared among the other Investors party hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;16.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Amendment</U></B>. This Agreement may be modified, amended or otherwise
changed only in a writing signed by all of the Parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;17.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Termination</U></B>. This Agreement shall terminate at the end of the
Standstill Period or other date established by mutual written agreement of the Parties hereto. Notwithstanding the foregoing, the provisions of <B>Section</B><B></B><B>&nbsp;8</B> thru <B>Section</B><B></B><B>&nbsp;19 </B>shall survive the
termination of this Agreement. No termination of this Agreement shall relieve any Party from liability for any breach of this Agreement prior to such termination. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;18.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Successors and Assigns; No Third Party Beneficiaries</U></B>. This
Agreement shall bind the successors and permitted assigns of the Parties, and inure to the benefit of any successor or permitted assign of any of the Parties; <I>provided</I>, <I>however</I>, that no party may assign this Agreement without the prior
written consent of the other Parties. No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any person other than the Parties hereto and their respective successors and
assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Section</B><B></B><B>&nbsp;19.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Counterparts</U></B>. This Agreement may be signed in any
number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each Party hereto shall have received a counterpart
hereof signed by the other Parties hereto. Counterparts delivered by electronic transmission shall be deemed to be originally signed counterparts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(<I>Signature page follows</I>) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>In Witness Whereof</B>, the Parties hereto have duly executed and delivered this
Agreement as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>Catalyst Biosciences, Inc.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Nassim Usman</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Nassim Usman</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President and Chief Executive Officer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signature Page to the
Cooperation Agreement </B></P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>JDS1, LLC </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Julian Singer</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Julian Singer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Managing Member</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signature Page to the
Cooperation Agreement </B></P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Julian Singer</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Julian Singer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signature Page to the
Cooperation Agreement </B></P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David Oros</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">David Oros</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signature Page to the
Cooperation Agreement </B></P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Wayne Barr, Jr.</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Wayne Barr, Jr.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signature Page to the
Cooperation Agreement </B></P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CCUR HOLDINGS, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Wayne Barr, Jr.</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Wayne Barr, Jr.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Signature Page to the
Cooperation Agreement </B></P>

</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Exhibit A </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="45%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Investor</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Shares&nbsp;of&nbsp;Common<BR>Stock<BR>Beneficially&nbsp;Owned</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Notice</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">JDS1, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right">398,838</TD>
<TD NOWRAP VALIGN="middle">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2200 Fletcher Avenue, Suite 501<BR>Fort Lee, New Jersey 07024<BR>Telephone:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">201-592-3400</FONT></FONT><BR><FONT STYLE="white-space:nowrap">E-mail:</FONT> julian@remusllc.com</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CCUR Holdings, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right">150,000</TD>
<TD NOWRAP VALIGN="middle">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4375 River Green Parkway, Suite 210<BR>Duluth, Georgia 30096<BR>Telephone:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">919-605-8142</FONT></FONT><BR><FONT STYLE="white-space:nowrap">E-mail:</FONT> wayne.barr@ccurholdings.com</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">David S. Oros</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle">&nbsp;&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right">327,942</TD>
<TD NOWRAP VALIGN="middle"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">702 W. Lake Avenue<BR>Baltimore, Maryland 21210<BR>Telephone: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">443-386-0300</FONT></FONT><BR><FONT STYLE="white-space:nowrap">E-mail:</FONT>
doros@gamma3ll.com</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Julian Singer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right">398,838</TD>
<TD NOWRAP VALIGN="middle">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2200 Fletcher Avenue, Suite 501<BR>Fort Lee, New Jersey 07024<BR>Telephone:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">201-592-3400</FONT></FONT><BR><FONT STYLE="white-space:nowrap">E-mail:</FONT> julian@remusllc.com</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Wayne Barr, Jr.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="middle">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="right">150,000</TD>
<TD NOWRAP VALIGN="middle">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4375 River Green Parkway, Suite 210<BR>Duluth, Georgia 30096<BR>Telephone:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">919-605-8142</FONT></FONT><BR><FONT STYLE="white-space:nowrap">E-mail:</FONT> wayne.barr@ccurholdings.com</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Note that this amount excludes 50,500 shares underlying call options that expire March&nbsp;20, 2020.&nbsp;Such
shares are deemed to be beneficially owned but are not votable unless such options are exercised. </P></TD></TR></TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d847025dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Catalyst Biosciences Announces Addition of Geoffrey Shiu Fei Ling, M.D. and Sharon Tetlow </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>to Board of Directors </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SOUTH SAN
FRANCISCO, Calif., Jan.17, 2020 &#151; Catalyst Biosciences, Inc. (NASDAQ: CBIO), a clinical-stage biopharmaceutical company developing novel treatments for hemophilia and other rare bleeding disorders, today announced the appointment of Geoffrey
Shiu Fei Ling, M.D. and Sharon Tetlow to the Company&#146;s Board of Directors, effective January&nbsp;15, 2020. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Tetlow is Managing Partner and
Founder of Potrero Hill Advisors. Throughout her career as a serial Chief Financial Officer, Ms.&nbsp;Tetlow has held board seats, served on Audit and Transaction Committees through successful acquisitions, served as the board&#146;s financial
expert and has been the CFO of public companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dr.&nbsp;Ling is a Professor of Neurology and Attending Neuro Critical Care Physician at Johns Hopkins
Medical Institutions and the Emeritus Professor of Neurology, Uniformed Services University of the Health Science. Dr.&nbsp;Ling is an internationally recognized expert in brain health and was the founding Director of the Biological Technologies
Office at Defense Advanced Research Projects Agency. Dr.&nbsp;Ling served as an officer in the United States Army Medical Corps for 27 years before retiring as a colonel in 2012. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are pleased to welcome Dr.&nbsp;Ling and Ms.&nbsp;Tetlow to our Board,&#148; said Augustine Lawlor, Chairman of the Board. &#147;They are both
leaders of the highest caliber who bring invaluable experience in areas such as neuroscience, biotechnology, pharmacology, life sciences, operations and finance. We look forward to benefitting from their expertise as we execute on our strategic
priorities and create value for our shareholders.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with this announcement, the Company also announced that it has entered into an
agreement with JDS1, LLC. As part of the agreement, JDS1, LLC will vote all of its shares in favor of each of the Company&#146;s nominees at the 2020 Annual Meeting of Stockholders and will abide by customary standstill provisions and voting
commitments. Jeff Himawan, Ph.D. and John P. Richard will not stand for reelection at the Company&#146;s 2020 Annual Meeting of Stockholders. Additional information about the agreement will be filed with the Securities and Exchange Commission. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Catalyst Biosciences </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Catalyst is a clinical-stage
biopharmaceutical company which is focused on addressing unmet needs in rare diseases and systemic complement mediated disorders. Our protease engineering platform includes development programs in hemophilia and a research program on subcutaneous
systemic complement inhibitors. Our engineered coagulation factors are designed to overcome the significant limitations of current IV treatment options, facilitate prophylaxis, and ultimately deliver substantially better outcomes for patients using
SQ dosing. Our lead asset, MarzAA, has completed Phase 2 development having met its primary endpoint of significantly reducing the annualized bleed rate (ABR) in individuals with hemophilia A or B with inhibitors. Our second hemophilia asset, DalcA,
is in a Phase 2b clinical trial and is being developed for the treatment of hemophilia B. We also have a global license and collaboration agreement with Biogen for the development and commercialization of pegylated CB 2782 for the potential
treatment of geographic atrophy associated dry <FONT STYLE="white-space:nowrap">age-related</FONT> macular degeneration. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information, please
visit www.catalystbiosciences.com. </P>
</DIV></Center>


<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains forward-looking statements that involve substantial risks and uncertainties. Forward-looking statements include statements about
the potential uses and benefits of Catalyst&#146;s products in development to address rare diseases and systemic complement mediated disorders, the potential benefits of our product candidates and SQ dosing, statements about Catalyst&#146;s clinical
trial status for DalcA, and the potential uses of MarzAA and DalcA, and the collaboration with Biogen around CB 2782. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the
forward-looking statements. Various important factors could cause actual results or events to differ materially, including, but not limited to, the risk that trials and studies may be delayed and may not have satisfactory outcomes, that additional
human trials will not replicate the results from earlier trials, that potential adverse effects may arise from the testing or use of DalcA, or MarzAA, including the generation of antibodies, which has been observed in patients previously treated
with DalcA, the risk that costs required to develop or manufacture the Company&#146;s products will be higher than anticipated, competition and other factors that affect the Company&#146;s ability to establish collaborations on commercially
reasonable terms and other risks described in the &#147;Risk Factors&#148; section of the Company&#146;s quarterly report filed with the Securities and Exchange Commission on November&nbsp;7, 2019, and in other filings with the Securities and
Exchange Commission. The Company does not assume any obligation to update any forward-looking statements, except as required by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors:
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ana Kapor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Catalyst Biosciences, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">investors@catbio.com </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
