<SEC-DOCUMENT>0001144204-17-052859.txt : 20171017
<SEC-HEADER>0001144204-17-052859.hdr.sgml : 20171017
<ACCEPTANCE-DATETIME>20171017170259
ACCESSION NUMBER:		0001144204-17-052859
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20171016
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171017
DATE AS OF CHANGE:		20171017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABEONA THERAPEUTICS INC.
		CENTRAL INDEX KEY:			0000318306
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				830221517
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15771
		FILM NUMBER:		171141154

	BUSINESS ADDRESS:	
		STREET 1:		3333 LEE PARKWAY
		STREET 2:		SUITE 600
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75219
		BUSINESS PHONE:		2149055100

	MAIL ADDRESS:	
		STREET 1:		3333 LEE PARKWAY
		STREET 2:		SUITE 600
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75219

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PLASMATECH BIOPHARMACEUTICALS INC
		DATE OF NAME CHANGE:	20140922

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACCESS PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19960209

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHEMEX PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv476994_8k.htm
<DESCRIPTION>8-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, DC 20549</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT PURSUANT<BR>
TO SECTION 13 OR 15(D) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">Date
of report (Date of earliest event reported):</FONT> October 16, 2017</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>ABEONA THERAPEUTICS INC.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 33%; text-align: center"><B><U>Delaware</U></B></TD>
    <TD STYLE="width: 34%; text-align: center"><B><U>001-15771</U></B></TD>
    <TD STYLE="width: 33%; text-align: center"><B><U>83-0221517</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of<BR>
incorporation)</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <TD STYLE="width: 100%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3333 Lee Parkway, Suite 600</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Dallas, TX 75219</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of principal executive offices) (Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(214)-665-9495</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant&rsquo;s telephone number, including area code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>N/A</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Former name or former address, if changed since last report)</FONT></TD></TR>
</TABLE>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see<I>&nbsp;</I>General
Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule&nbsp;405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule&nbsp;12b-2 of
the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).&nbsp;&nbsp;Emerging growth company&nbsp;<FONT STYLE="font-family: Webdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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)&nbsp;of the Exchange Act.&nbsp;&nbsp;<FONT STYLE="font-family: Webdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 1.01 Entry into a Material Definitive Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.25in 0pt 0"><I>Underwriting Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 16, 2017, Abeona Therapeutics
Inc. (the &ldquo;Company&rdquo;) entered into an Underwriting Agreement (the &ldquo;Underwriting Agreement&rdquo;) with Jefferies
LLC, as representative for the underwriters named therein (the &ldquo;Underwriters&rdquo;), relating to an underwritten public
offering of 5,000,000 shares of its common stock, par value $0.01 per share, at a price to the public of $16.00 per share. Under
the terms of the Underwriting Agreement, the Company granted the Underwriters a 30-day option to purchase up to an additional 750,000
shares of its common stock. The Company expects to receive approximately $80 million in net proceeds from the offering before deducting
underwriting discounts and commissions and other offering expenses payable by the Company, assuming no exercise by the Underwriters
of their option to purchase additional shares. The shares are expected to be delivered to the Underwriters on or about October
19, 2017, subject to the satisfaction of customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: justify">The offering is being made pursuant
to the Company&rsquo;s effective registration statement on Form S-3 (File No. 333-205128) previously filed with the Securities
and Exchange Commission and a preliminary and final prospectus supplement thereunder. A copy of the Underwriting Agreement executed
in connection with the offering is filed herewith as Exhibit 1.1 and is incorporated herein by reference. The Underwriting Agreement
contains representations, warranties and covenants of the Company that are customary for transactions of this type and customary
conditions to closing. Additionally, the Company has agreed to provide the Underwriters with customary indemnification rights under
the Underwriting Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: justify">A copy of the&nbsp;opinion&nbsp;of
Morgan, Lewis &amp; Bockius LLP relating to the legality of the shares of common stock issuable under the Underwriting Agreement,
is filed herewith as Exhibit&nbsp;5.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0; text-align: justify">The foregoing description of
the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to such Exhibit.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 8.01 Other Events</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On October 16, 2017, Abeona Therapeutics Inc. issued a press
release entitled &ldquo;Abeona Therapeutics Announces Pricing of Public Offering of Common Stock&rdquo;. The full text of the press
release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 9.01 Financial Statements and Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) The following exhibits are being filed herewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 16%"><B><U>Exhibit No.</U></B></TD>
    <TD STYLE="width: 84%"><B><U>Description</U></B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left"><A HREF="tv476994_ex1-1.htm" STYLE="-sec-extract: exhibit">1.1</A></TD>
    <TD><A HREF="tv476994_ex1-1.htm" STYLE="-sec-extract: exhibit">Underwriting Agreement between the Company and Jefferies LLC, as representative for the underwriters named therein, dated as of October 16, 2017</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><A HREF="tv476994_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD>
    <TD><A HREF="tv476994_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Morgan, Lewis &amp; Bockius LLP</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv476994_ex99-1.htm" STYLE="-sec-extract: exhibit">99.1</A></TD>
    <TD STYLE="text-align: justify"><A HREF="tv476994_ex99-1.htm" STYLE="-sec-extract: exhibit">Press release dated October 16, 2017, entitled &ldquo;Abeona Therapeutics Announces Pricing of Public Offering of Common Stock&rdquo; </A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Abeona Therapeutics Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD NOWRAP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Stephen B. Thompson</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stephen B. Thompson</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice President Finance</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Accounting Officer&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: October 17, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tv476994_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 1.1</B></P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B>5,000,000 Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Abeona Therapeutics Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>UNDERWRITING AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">October 16,
2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JEFFERIES LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As Representative of the several Underwriters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
c/o JEFFERIES LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">520 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Introductory.</B> Abeona Therapeutics
Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), proposes to issue and sell to the several underwriters named in
<U>Schedule A</U> (the &ldquo;<B>Underwriters</B>&rdquo;) an aggregate of 5,000,000 shares of its common stock, par value $0.01
per share (the &ldquo;<B>Shares</B>&rdquo;). The 5,000,000 Shares to be sold by the Company are called the &ldquo;<B>Firm Shares</B>.&rdquo;
In addition, the Company has granted to the Underwriters an option to purchase up to an additional 750,000 Shares as provided
in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 2. The additional 750,000 Shares to be sold by the Company pursuant to such
option are collectively called the &ldquo;<B>Optional Shares</B>.&rdquo; The Firm Shares and, if and to the extent such option
is exercised, the Optional Shares are collectively called the &ldquo;<B>Offered Shares</B>.&rdquo; Jefferies LLC (&ldquo;<B>Jefferies</B>&rdquo;)
has agreed to act as representative of the several Underwriters (in such capacity, the &ldquo;<B>Representative</B>&rdquo;) in
connection with the offering and sale of the Offered Shares. To the extent there are no additional underwriters listed on <U>Schedule
A</U>, the term &ldquo;Representative&rdquo; as used herein shall mean you, as Underwriter, and the term &ldquo;Underwriters&rdquo;
shall mean either the singular or the plural, as the context requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has prepared and filed with
the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) a shelf registration statement on Form&nbsp;S-3, File
No.&nbsp;333-205128, including a base prospectus (the &ldquo;<B>Base Prospectus</B>&rdquo;) to be used in connection with the public
offering and sale of the Offered Shares. Such registration statement, as amended, including the financial statements, exhibits
and schedules thereto, in the form in which it became effective under the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder (collectively, the &ldquo;<B>Securities Act</B>&rdquo;), including all documents incorporated
or deemed to be incorporated by reference therein and any information deemed to be a part thereof at the time of effectiveness
pursuant to Rule&nbsp;430A or 430B under the Securities Act, is called the &ldquo;<B>Registration Statement</B>.&rdquo; Any registration
statement filed by the Company pursuant to Rule 462(b) under the Securities Act in connection with the offer and sale of the Offered
Shares is called the &ldquo;<B>Rule 462(b) Registration Statement</B>,&rdquo; and from and after the date and time of filing of
any such Rule 462(b) Registration Statement the term &ldquo;Registration Statement&rdquo; shall include the Rule 462(b) Registration
Statement. The preliminary prospectus supplement dated October 16, 2017 describing the Offered Shares and the offering thereof
(the &ldquo;<B>Preliminary Prospectus Supplement</B>&rdquo;), together with the Base Prospectus, is called the &ldquo;<B>Preliminary
Prospectus</B>,&rdquo; and the Preliminary Prospectus and any other prospectus supplement to the Base Prospectus in preliminary
form that describes the Offered Shares and the offering thereof and is used prior to the filing of the Prospectus (as defined below),
together with the Base Prospectus, is called a &ldquo;<B>preliminary prospectus</B>.&rdquo; As used herein, the term &ldquo;<B>Prospectus</B>&rdquo;
shall mean the final prospectus supplement to the Base Prospectus that describes the Offered Shares and the offering thereof (the
&ldquo;<B>Final Prospectus Supplement</B>&rdquo;), together with the Base Prospectus, in the form first used by the Underwriters
to confirm sales of the Offered Shares or in the form first made available to the Underwriters by the Company to meet requests
of purchasers pursuant to Rule 173 under the Securities Act. References herein to the Preliminary Prospectus, any preliminary prospectus
and the Prospectus shall refer to both the prospectus supplement and the Base Prospectus components of such prospectus. As used
herein, &ldquo;<B>Applicable Time</B>&rdquo; is 8:45 p.m. (New York City time) on October 16, 2017. As used herein, &ldquo;<B>free
writing prospectus</B>&rdquo; has the meaning set forth in Rule 405 under the Securities Act, and &ldquo;<B>Time of Sale Prospectus</B>&rdquo;
means the Preliminary Prospectus, as amended or supplemented immediately prior to the Applicable Time, together with the free writing
prospectuses, if any, identified in <U>Schedule B</U> hereto. As used herein, <B>&ldquo;Road Show&rdquo;</B> means a &ldquo;road
show&rdquo; (as defined in Rule 433 under the Securities Act) relating to the offering of the Offered Shares contemplated hereby
that is a &ldquo;written communication&rdquo; (as defined in Rule 405 under the Securities Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All references in this Agreement to the
Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus and the Prospectus shall include
the documents incorporated or deemed to be incorporated by reference therein. All references in this Agreement to financial statements
and schedules and other information which are &ldquo;contained,&rdquo; &ldquo;included&rdquo; or &ldquo;stated&rdquo; in, or &ldquo;part
of&rdquo; the Registration Statement, the Rule 462(b) Registration Statement, the Preliminary Prospectus, any preliminary prospectus,
the Base Prospectus, the Time of Sale Prospectus or the Prospectus, and all other references of like import, shall be deemed to
mean and include all such financial statements and schedules and other information which is or is deemed to be incorporated by
reference in the Registration Statement, the Rule 462(b) Registration Statement, the Preliminary Prospectus, any preliminary prospectus,
the Base Prospectus, the Time of Sale Prospectus or the Prospectus, as the case may be. All references in this Agreement to amendments
or supplements to the Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus, the
Time of Sale Prospectus or the Prospectus shall be deemed to mean and include the filing of any document under the Securities Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder (collectively, the &ldquo;<B>Exchange Act</B>&rdquo;)
that is or is deemed to be incorporated by reference in the Registration Statement, the Preliminary Prospectus, any preliminary
prospectus, the Base Prospectus, or the Prospectus, as the case may be. All references in this Agreement to&nbsp;(i) the Registration
Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus or the Prospectus, any amendments or supplements
to any of the foregoing, or any free writing prospectus, shall include any copy thereof filed with the Commission pursuant to its
Electronic Data Gathering, Analysis and Retrieval System (&ldquo;<B>EDGAR</B>&rdquo;) and (ii)&nbsp;the Prospectus shall be deemed
to include any &ldquo;electronic Prospectus&rdquo; provided for use in connection with the offering of the Offered Shares as contemplated
by Section 3(n) of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company hereby confirms its agreements
with the Underwriters as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Representations and Warranties of the Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company hereby represents, warrants
and covenants to each Underwriter, as of the date of this Agreement, as of the First Closing Date (as hereinafter defined) and
as of each Option Closing Date (as hereinafter defined), if any, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Compliance with Registration Requirements</I>.</B> The Registration Statement has become effective under
the Securities Act. The Company has complied, to the Commission&rsquo;s satisfaction, with all requests of the Commission for additional
or supplemental information, if any. No stop order suspending the effectiveness of the Registration Statement is in effect and
no proceedings for such purpose have been instituted or are pending or, to the best knowledge of the Company, are contemplated
or threatened by the Commission. At the time the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2016
(the &ldquo;<B>Annual Report</B>&rdquo;) was filed with the Commission, or, if later, at the time the Registration Statement was
originally filed with the Commission, the Company met the then-applicable requirements for use of Form S-3 under the Securities
Act. The Company meets the requirements for use of Form S-3 under the Securities Act specified in Financial Industry Regulatory
Authority, Inc. (&ldquo;<B>FINRA</B>&rdquo;) Conduct Rule 5110(B)(7)(C)(i). The documents incorporated or deemed to be incorporated
by reference in the Registration Statement, the Time of Sale Prospectus and the Prospectus, at the time they were or hereafter
are filed with the Commission, or became effective under the Exchange Act, as the case may be, complied and will comply in all
material respects with the requirements of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Disclosure</I>.</B> Each preliminary prospectus and the Prospectus when filed complied in all material
respects with the Securities Act and, if filed by electronic transmission pursuant to EDGAR, was identical (except as may be permitted
by Regulation&nbsp;S-T under the Securities Act) to the copy thereof delivered to the Underwriters for use in connection with the
offer and sale of the Offered Shares. Each of the Registration Statement and any post-effective amendment thereto, at the time
it became or becomes effective, complied and will comply in all material respects with the Securities Act and did not and will
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein not misleading. As of the Applicable Time, the Time of Sale Prospectus (including any preliminary
prospectus wrapper) did not, and at the First Closing Date (as defined in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 2)
and at each applicable Option Closing Date (as defined in Section 2), will not, contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading. The Prospectus (including any Prospectus wrapper), as of its date, did not, and at the First Closing Date
and at each applicable Option Closing Date, will not, contain any untrue statement of a material fact or omit to state a material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.
The representations and warranties set forth in the three immediately preceding sentences do not apply to statements in or omissions
from the Registration Statement or any post-effective amendment thereto, or the Prospectus or the Time of Sale Prospectus, or any
amendments or supplements thereto, made in reliance upon and in conformity with written information relating to any Underwriter
furnished to the Company in writing by the Representative expressly for use therein, it being understood and agreed that the only
such information consists of the information described in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9(b) below. There are
no contracts or other documents required to be described in the Time of Sale Prospectus or the Prospectus or to be filed as an
exhibit to the Registration Statement which have not been described or filed as required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Free Writing Prospectuses; Road Show</I>.</B> As of the determination date referenced in Rule 164(h) under
the Securities Act, the Company was not, is not or will not be (as applicable) an &ldquo;ineligible issuer&rdquo; in connection
with the offering of the Offered Shares pursuant to Rules 164, 405 and 433 under the Securities Act. Each free writing prospectus
that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission
in accordance with the requirements of the Securities Act. Each free writing prospectus that the Company has filed, or is required
to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or on behalf of or used or referred to by the
Company complies or will comply in all material respects with the requirements of Rule 433 under the Securities Act, including
timely filing with the Commission or retention where required and legending, and each such free writing prospectus, as of its issue
date and at all subsequent times through the completion of the public offer and sale of the Offered Shares did not, does not and
will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration
Statement, the Prospectus or any preliminary prospectus and not superseded or modified. Except for the free writing prospectuses,
if any, identified in <U>Schedule B</U>, and electronic road shows, if any, furnished to you before first use, the Company has
not prepared, used or referred to, and will not, without your prior written consent, prepare, use or refer to, any free writing
prospectus. Each Road Show, when considered together with the Time of Sale Prospectus, did not, as of the Applicable Time, contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Distribution of Offering Material By the Company</I>.</B> Prior to the later of (i) the expiration or termination
of the option granted to the several Underwriters in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 2 and (ii)&nbsp;the completion
of the Underwriters&rsquo; distribution of the Offered Shares<B>,</B> the Company has not distributed and will not distribute any
offering material in connection with the offering and sale of the Offered Shares other than the Registration Statement, the Time
of Sale Prospectus, the Prospectus or any free writing prospectus reviewed and consented to by the Representative, and the free
writing prospectuses, if any, identified on <U>Schedule B </U>hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>The Underwriting Agreement</I>.</B> This Agreement has been duly authorized, executed and delivered by
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Authorization of the Offered Shares</I>.</B> The Offered Shares have been duly authorized for issuance
and sale pursuant to this Agreement and, when issued and delivered by the Company against payment therefor pursuant to this Agreement,
will be validly issued, fully paid and nonassessable, and the issuance and sale of the Offered Shares is not subject to any preemptive
rights, rights of first refusal or other similar rights to subscribe for or purchase the Offered Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Applicable Registration or Other Similar Rights</I>.</B> There are no persons with registration or other
similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering
contemplated by this Agreement, except for such rights as have been duly complied with or waived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Material Adverse Change</I>.</B> Except as otherwise disclosed in the Registration Statement, the Time
of Sale Prospectus and the Prospectus, subsequent to the respective dates as of which information is given in the Registration
Statement, the Time of Sale Prospectus and the Prospectus: (i)&nbsp;there has been no material adverse change, or any development
that could be expected to result in a material adverse change, in the condition, financial or otherwise, or in the earnings, business,
properties, operations, assets, liabilities or prospects, whether or not arising from transactions in the ordinary course of business,
of the Company and its subsidiaries, considered as one entity (any such change being referred to herein as a &ldquo;<B>Material
Adverse Change</B>&rdquo;); (ii)&nbsp;the Company and its subsidiaries, considered as one entity, have not incurred any material
liability or obligation, indirect, direct or contingent, including without limitation any losses or interference with its business
from fire, explosion, flood, earthquakes, accident or other calamity, whether or not covered by insurance, or from any strike,
labor dispute or court or governmental action, order or decree, that are material, individually or in the aggregate, to the Company
and its subsidiaries, considered as one entity, or has entered into any material transactions not in the ordinary course of business;
and (iii)&nbsp;there has not been any material decrease in the capital stock or any material increase in any short-term or long-term
indebtedness of the Company or its subsidiaries and there has been no dividend or distribution of any kind declared, paid or made
by the Company or, except for dividends paid to the Company or other subsidiaries, by any of the Company&rsquo;s subsidiaries on
any class of capital stock, or any repurchase or redemption by the Company or any of its subsidiaries of any class of capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Independent Accountants</I>.</B> Whitley Penn LLP, which has expressed its opinion with respect to the
financial statements (which term as used in this Agreement includes the related notes thereto) filed with the Commission as a part
of the Registration Statement, the Time of Sale Prospectus and the Prospectus, is (i) an independent registered public accounting
firm as required by the Securities Act, the Exchange Act, and the rules of the Public Company Accounting Oversight Board (&ldquo;<B>PCAOB</B>&rdquo;),
(ii) in compliance with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation
S-X under the Securities Act and (iii) a registered public accounting firm as defined by the PCAOB whose registration has not been
suspended or revoked and who has not requested such registration to be withdrawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Financial Statements</I>.</B> The financial statements filed with the Commission as a part of the Registration
Statement, the Time of Sale Prospectus and the Prospectus present fairly, in all material respects, the consolidated financial
position of the Company and its subsidiaries as of the dates indicated and the results of their operations, changes in stockholders&rsquo;
equity and cash flows for the periods specified. Such financial statements have been prepared in conformity with generally accepted
accounting principles as applied in the United States applied on a consistent basis throughout the periods involved, except as
may be expressly stated in the related notes thereto. The interactive data in eXtensible Business Reporting Language included or
incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and
has been prepared in accordance with the Commission&rsquo;s rules and guidelines applicable thereto. No other financial statements
or supporting schedules are required to be included in the Registration Statement, the Time of Sale Prospectus or the Prospectus.
To the Company&rsquo;s knowledge, no person who has been suspended or barred from being associated with a registered public accounting
firm, or who has failed to comply with any sanction pursuant to Rule 5300 promulgated by the PCAOB, has participated in or otherwise
aided the preparation of, or audited, the financial statements, supporting schedules or other financial data filed with the Commission
as a part of the Registration Statement, the Time of Sale Prospectus and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Company&rsquo;s Accounting System</I>.</B> The Company and each of its subsidiaries make and keep accurate
books and records and maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i)&nbsp;transactions
are executed in accordance with management&rsquo;s general or specific authorization; (ii)&nbsp;transactions are recorded as necessary
to permit preparation of financial statements in conformity with generally accepted accounting principles as applied in the United
States and to maintain accountability for assets; (iii)&nbsp;access to assets is permitted only in accordance with management&rsquo;s
general or specific authorization; (iv)&nbsp;the recorded accountability for assets is compared with existing assets at reasonable
intervals and appropriate action is taken with respect to any differences; and (v) the interactive data in eXtensible Business
Reporting Language included or incorporated by reference in the Registration Statement, the Time of Sale Prospectus and the Prospectus
fairly presents the information called for in all material respects and is prepared in accordance with the Commission's rules and
guidelines applicable thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Disclosure Controls and Procedures; Deficiencies in or Changes to Internal Control Over Financial Reporting</I>.</B>
The Company has established and maintains disclosure controls and procedures (as defined in Rules&nbsp;13a-15 and 15d-15 under
the Exchange Act), which (i) are designed to ensure that material information relating to the Company, including its consolidated
subsidiaries, is made known to the Company&rsquo;s principal executive officer and its principal financial officer by others within
those entities, particularly during the periods in which the periodic reports required under the Exchange Act are being prepared;
(ii) have been evaluated by management of the Company for effectiveness as of the end of the Company&rsquo;s most recent fiscal
quarter; and (iii) are effective in all material respects to perform the functions for which they were established. Since the end
of the Company&rsquo;s most recent audited fiscal year, there have been no significant deficiencies or material weakness in the
Company&rsquo;s internal control over financial reporting (whether or not remediated) and no change in the Company&rsquo;s internal
control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s
internal control over financial reporting. The Company is not aware of any change in its internal control over financial reporting
that has occurred during its most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect,
the Company&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Incorporation and Good Standing of the Company</I>.</B> The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the State of Delaware and has the corporate power and authority to
own, lease and operate its properties and to conduct its business as described in the Registration Statement, the Time of Sale
Prospectus and the Prospectus and to enter into and perform its obligations under this Agreement. The Company is duly qualified
as a foreign corporation to transact business and is in good standing in the State of Delaware and each other jurisdiction in which
such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where
the failure to so qualify could not be expected, individually or in the aggregate, to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Subsidiaries</I>.</B> Each of the Company&rsquo;s &ldquo;subsidiaries&rdquo; (for purposes of this Agreement,
as defined in Rule 405 under the Securities Act) has been duly incorporated or organized, as the case may be, and is validly existing
as a corporation, partnership or limited liability company, as applicable, in good standing under the laws of the jurisdiction
of its incorporation or organization and has the power and authority (corporate or other) to own, lease and operate its properties
and to conduct its business as described in the Registration Statement, the Time of Sale Prospectus and the Prospectus. Each of
the Company&rsquo;s subsidiaries is duly qualified as a foreign corporation, partnership or limited liability company, as applicable,
to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of
the ownership or leasing of property or the conduct of business, except where the failure to so qualify could not be expected,
individually or in the aggregate, to have a Material Adverse Effect.&nbsp; All of the issued and outstanding capital stock or other
equity or ownership interests of each of the Company&rsquo;s subsidiaries have been duly authorized and validly issued, are fully
paid and nonassessable and are owned by the Company, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance or adverse claim. The Company&rsquo;s subsidiaries are not engaged in any business or any other
conduct or operations, have no employees, and, except for Abeona Therapeutics LLC, which has approximately $29,000 in fixed assets,
net of depreciation, and $11,000 in prepaid and other expenses, have no assets, franchises, permits, contract rights or other
privileges, and have no liabilities or obligations, contingent or matured, of whatever nature, except for such privileges and obligations
each may have solely as a result of each of their due organization under the law of incorporation, none of which are material to
the Company or used or involved in, or result from, the Company&rsquo;s business. The Company does not own or control, directly
or indirectly, any corporation, association or other entity other than the subsidiaries listed in Exhibit&nbsp;21 to the Annual
Report.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(o)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Capitalization and Other Capital Stock Matters</I>.</B> The authorized, issued and outstanding capital
stock of the Company is as set forth in the Registration Statement, the Time of Sale Prospectus and the Prospectus under the caption
&ldquo;Description of Our Common Stock&rdquo; (other than for subsequent issuances, if any, pursuant to employee benefit plans,
or upon the exercise of outstanding options or warrants, in each case described in the Registration Statement, the Time of Sale
Prospectus and the Prospectus). The Shares (including the Offered Shares) conform in all material respects to the description thereof
contained in the Time of Sale Prospectus. All of the issued and outstanding Shares have been duly authorized and validly issued,
are fully paid and nonassessable and have been issued in compliance with all federal and state securities laws in all material
respects. None of the outstanding Shares was issued in violation of any preemptive rights, rights of first refusal or other similar
rights to subscribe for or purchase securities of the Company. There are no authorized or outstanding options, warrants, preemptive
rights, rights of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable
for, any capital stock of the Company or any of its subsidiaries other than those described in the Registration Statement, the
Time of Sale Prospectus and the Prospectus. The descriptions of the Company&rsquo;s stock option, stock bonus and other stock plans
or arrangements, and the options or other rights granted thereunder, set forth in the Registration Statement, the Time of Sale
Prospectus and the Prospectus accurately and fairly presents the information required to be shown with respect to such plans, arrangements,
options and rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(p)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Stock Exchange Listing</I>.</B> The Shares are registered pursuant to Section 12(b) or 12(g) of the Exchange
Act and are listed on The NASDAQ Capital Market (the &ldquo;<B>NASDAQ</B>&rdquo;), and the Company has taken no action designed
to, or likely to have the effect of, terminating the registration of the Shares under the Exchange Act or delisting the Shares
from the NASDAQ, nor has the Company received any notification that the Commission or the NASDAQ is contemplating terminating such
registration or listing. To the Company&rsquo;s knowledge, it is in compliance with all applicable listing requirements of NASDAQ.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(q)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Non-Contravention of Existing Instruments; No Further Authorizations or Approvals Required</I>.</B> Neither
the Company nor any of its subsidiaries is in violation of its charter or by-laws, partnership agreement or operating agreement
or similar organizational documents, as applicable, or is in default (or, with the giving of notice or lapse of time, would be
in default) (&ldquo;<B>Default</B>&rdquo;) under any indenture, loan, credit agreement, note, lease, license agreement, contract,
franchise or other instrument (including, without limitation, any pledge agreement, security agreement, mortgage or other instrument
or agreement evidencing, guaranteeing, securing or relating to indebtedness) to which the Company or any of its subsidiaries is
a party or by which it or any of them may be bound, or to which any of their respective properties or assets are subject (each,
an &ldquo;<B>Existing Instrument</B>&rdquo;), except for such Defaults as could not be expected, individually or in the aggregate,
to have a material adverse effect on the condition (financial or other), earnings, business, properties, operations, assets, liabilities
or prospects of the Company and its subsidiaries, considered as one entity (a &ldquo;<B>Material Adverse Effect</B>&rdquo;). The
Company&rsquo;s execution, delivery and performance of this Agreement, consummation of the transactions contemplated hereby and
by the Registration Statement, the Time of Sale Prospectus and the Prospectus and the issuance and sale of the Offered Shares (including
the use of proceeds from the sale of the Offered Shares as described in the Registration Statement, the Time of Sale Prospectus
and the Prospectus under the caption &ldquo;Use of Proceeds&rdquo;) (i)&nbsp;have been duly authorized by all necessary corporate
action and will not result in any violation of the provisions of the charter or by-laws, partnership agreement or operating agreement
or similar organizational documents, as applicable, of the Company or any subsidiary (ii)&nbsp;will not conflict with or constitute
a breach of, or Default or a Debt Repayment Triggering Event (as defined below) under, or result in the creation or imposition
of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, or require
the consent of any other party to, any Existing Instrument and (iii)&nbsp;will not result in any violation of any law, administrative
regulation or administrative or court decree applicable to the Company or any of its subsidiaries, except, in the case of (ii)
above, as could not be expected, individually or in the aggregate, to have a Material Adverse Effect. No consent, approval, authorization
or other order of, or registration or filing with, any court or other governmental or regulatory authority or agency, is required
for the Company&rsquo;s execution, delivery and performance of this Agreement and consummation of the transactions contemplated
hereby and by the Registration Statement, the Time of Sale Prospectus and the Prospectus, except such as have been obtained or
made by the Company and are in full force and effect under the Securities Act and such as may be required under applicable state
securities or blue sky laws or FINRA. As used herein, a &ldquo;<B>Debt Repayment Triggering Event</B>&rdquo; means any event or
condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence
of indebtedness (or any person acting on such holder&rsquo;s behalf) the right to require the repurchase, redemption or repayment
of all or a portion of such indebtedness by the Company or any of its subsidiaries.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(r)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Compliance with Laws.</I></B> The Company and its subsidiaries have been and are in compliance with all
applicable laws, rules and regulations, except where failure to be so in compliance could not be expected, individually or in the
aggregate, to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(s)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Material Actions or Proceedings</I>.</B> There is no action, suit, proceeding, inquiry or investigation
brought by or before any governmental entity now pending or, to the knowledge of the Company, threatened, against or affecting
the Company or any of its subsidiaries, which could be expected, individually or in the aggregate, to have a Material Adverse Effect
or materially and adversely affect the consummation of the transactions contemplated by this Agreement&nbsp;or the performance
by the Company of its obligations hereunder; and the aggregate of all pending legal or governmental proceedings to which the Company
or any such subsidiary is a party or of which any of their respective properties or assets is the subject, including ordinary routine
litigation incidental to the business, if determined adversely to the Company, could not be expected to have a Material Adverse
Effect. No material labor dispute with the employees of the Company or any of its subsidiaries exists, or, to the knowledge of
the Company, with the employees of any principal supplier, manufacturer, customer or contractor of the Company, exists or, to the
knowledge of the Company, is threatened or imminent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(t)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Intellectual Property Rights</I>.</B> The Company and its subsidiaries own, or have obtained valid and
enforceable licenses for, the inventions, patent applications, patents, trademarks, trade names, service names, copyrights, trade
secrets and other intellectual property described in the Registration Statement, the Time of Sale Prospectus and the Prospectus
as being owned or licensed by them or which are necessary for the conduct of their respective businesses as currently conducted
or as currently proposed to be conducted (collectively, &ldquo;<U>Intellectual Property</U>&rdquo;), except as disclosed in the
Registration Statement, the Time of Sale Prospectus and the Prospectus and except as could not reasonably be expected, individually
or in the aggregate, to have a Material Adverse Effect. To the Company's knowledge, except as disclosed in the Registration Statement,
the Time of Sale Prospectus and the Prospectus and except as could not reasonably be expected, individually or in the aggregate,
to have a Material Adverse Effect: (i) there are no third parties who have rights to any Intellectual Property, except for customary
reversionary rights of third-party licensors with respect to Intellectual Property that is disclosed in the Registration Statement,
the Time of Sale Prospectus and the Prospectus as licensed to the Company or one or more of its subsidiaries; and (ii) there is
no infringement by third parties of any Intellectual Property. There is no pending or, to the Company&rsquo;s knowledge, threatened
action, suit, proceeding or claim by others: (A)&nbsp;challenging the Company&rsquo;s rights in or to any Intellectual Property,
and the Company is unaware of any facts which would form a reasonable basis for any such action, suit, proceeding or claim, except
as disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus and except as could not reasonably be
expected, individually or in the aggregate, to have a Material Adverse Effect; (B) challenging the validity, enforceability or
scope of any Intellectual Property, and the Company is unaware of any facts which would form a reasonable basis for any such action,
suit, proceeding or claim, except as disclosed in the Registration Statement, the Time of Sale Prospectus and the Prospectus and
except as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; or (C) asserting
that the Company or any of its subsidiaries infringes or otherwise violates, or would, upon the commercialization of any product
or service described in the Registration Statement, the Time of Sale Prospectus or the Prospectus as under development, infringe
or violate, any patent, trademark, trade name, service name, copyright, trade secret or other proprietary rights of others, and
the Company is unaware of any facts which would form a reasonable basis for any such action, suit, proceeding or claim. The Company
and its subsidiaries have complied with the terms of each agreement pursuant to which Intellectual Property has been licensed to
the Company or any subsidiary, and all such agreements are in full force and effect. The product candidates described in the Registration
Statement, the Time of Sale Prospectus and the Prospectus as under development by the Company or any subsidiary fall within the
scope of the claims of one or more patents owned by, or exclusively licensed to, the Company or any subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(u)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>All Necessary Permits, etc</I>.</B> The Company and its subsidiaries possess such valid and current certificates,
authorizations or permits required by state, federal or foreign regulatory agencies or bodies to conduct their respective businesses
as currently conducted and as described in the Registration Statement, the Time of Sale Prospectus or the Prospectus (&ldquo;<U>Permits</U>&rdquo;)
except where such failure to possess any such Permit could not be expected, individually or in the aggregate, to have a Material
Adverse Effect. Neither the Company nor any of its subsidiaries is in violation of, or in default under, any of the Permits or
has received any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such Permit,
except for such proceeding that could not be expected, individually or in the aggregate, to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Title to Properties</I>.</B> The Company and its subsidiaries have good and marketable title to all of
the real and personal property and other assets reflected as owned in the financial statements referred to in Section 1(j) above
(or elsewhere in the Registration Statement, the Time of Sale Prospectus or the Prospectus), in each case free and clear of any
security interests, mortgages, liens, encumbrances, equities, adverse claims and other defects, except as do not, individually
or in the aggregate, materially and adversely affect the value of such property to the Company and its subsidiaries and do not,
individually or in the aggregate, materially and adversely interfere with the use made of such property by the Company and its
subsidiaries. The real property, improvements, equipment and personal property held under lease by the Company or any of its subsidiaries
are held under valid and enforceable leases, with such exceptions as are not material and do not materially interfere with the
use made or proposed to be made of such real property, improvements, equipment or personal property by the Company or such subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(w)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Tax Law Compliance</I>.</B> The Company and its subsidiaries have filed all necessary federal, state and
foreign income and franchise tax returns or have properly requested extensions thereof and have paid all taxes required to be paid
by any of them and, if due and payable, any related or similar assessment, fine or penalty levied against any of them except as
may be being contested in good faith and by appropriate proceedings. The Company has made adequate charges, accruals and reserves
in the applicable financial statements referred to in Section 1(j) above in respect of all federal, state and foreign income and
franchise taxes for all periods as to which the tax liability of the Company or any of its subsidiaries has not been finally determined.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(x)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Insurance</I>.</B> Each of the Company and its subsidiaries are insured by recognized, financially sound
and reputable institutions with policies in such amounts and with such deductibles and covering such risks as are generally deemed
adequate and customary for their businesses including, but not limited to, policies covering real and personal property owned or
leased by the Company and its subsidiaries against theft, damage, destruction, acts of vandalism and earthquakes and policies covering
the Company and its subsidiaries for product liability claims and clinical trial liability claims. The Company has no reason to
believe that it or any of its subsidiaries will not be able (i)&nbsp;to renew its existing insurance coverage as and when such
policies expire or (ii)&nbsp;to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct
its business as now conducted and at a cost that could not be expected to have a Material Adverse Effect. Neither the Company nor
any of its subsidiaries has been denied any insurance coverage which it has sought or for which it has applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(y)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Compliance with Environmental Laws</I>.</B> Except as could not be expected, individually or in the aggregate,
to have a Material Adverse Effect: (i) neither the Company nor any of its subsidiaries is in violation of any federal, state, local
or foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation
thereof, including any judicial or administrative order, consent, decree or judgment, relating to pollution or protection of human
health, the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata)
or wildlife, including, without limitation, laws and regulations relating to the release or threatened release of chemicals, pollutants,
contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products (collectively, &ldquo;<B>Hazardous
Materials</B>&rdquo;) or to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling
of Hazardous Materials (collectively, &ldquo;<B>Environmental Laws</B>&rdquo;); (ii) the Company and its subsidiaries have all
permits, authorizations and approvals required under any applicable Environmental Laws and are each in compliance with their requirements;
(iii) there are no pending, or to the knowledge of the Company and its subsidiaries, threatened administrative, regulatory or judicial
actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation or proceedings relating
to any Environmental Law against the Company or any of its subsidiaries; and (iv) there are no events or circumstances that might
reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any private
party or governmental body or agency, against or affecting the Company or any of its subsidiaries relating to Hazardous Materials
or any Environmental Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(z)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>ERISA Compliance</I>.</B> The Company and its subsidiaries and any &ldquo;employee benefit plan&rdquo;
(as defined under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations
thereunder (collectively, &ldquo;<B>ERISA</B>&rdquo;)) established or maintained by the Company, its subsidiaries or their &ldquo;ERISA
Affiliates&rdquo; (as defined below) are in compliance in all material respects with ERISA. &ldquo;<B>ERISA Affiliate</B>&rdquo;
means, with respect to the Company or any of its subsidiaries, any member of any group of organizations described in Sections&nbsp;414(b),
(c), (m) or (o) of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder
(the &ldquo;<B>Code</B>&rdquo;) of which the Company or such subsidiary is a member. No &ldquo;reportable event&rdquo; (as defined
under ERISA) has occurred or is reasonably expected to occur with respect to any &ldquo;employee benefit plan&rdquo; established
or maintained by the Company, its subsidiaries or any of their ERISA Affiliates. No &ldquo;employee benefit plan&rdquo; established
or maintained by the Company, its subsidiaries or any of their ERISA Affiliates, if such &ldquo;employee benefit plan&rdquo; were
terminated, would have any &ldquo;amount of unfunded benefit liabilities&rdquo; (as defined under ERISA). Neither the Company,
its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to incur any liability under (i)&nbsp;Title&nbsp;IV
of ERISA with respect to termination of, or withdrawal from, any &ldquo;employee benefit plan&rdquo; or (ii)&nbsp;Sections&nbsp;412,
4971, 4975 or 4980B of the Code. Each employee benefit plan established or maintained by the Company, its subsidiaries or any of
their ERISA Affiliates that is intended to be qualified under Section&nbsp;401(a) of the Code is so qualified and nothing has occurred,
whether by action or failure to act, which would cause the loss of such qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(aa)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Company Not an &ldquo;Investment Company.&rdquo;</I></B> The Company is not, and will not be, either after
receipt of payment for the Offered Shares or after the application of the proceeds therefrom as described under &ldquo;Use of Proceeds&rdquo;
in the Registration Statement, the Time of Sale Prospectus or the Prospectus, required to register as an &ldquo;investment company&rdquo;
under the Investment Company Act of 1940, as amended (the <B>&ldquo;Investment Company Act&rdquo;)</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(bb)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Price Stabilization or Manipulation; Compliance with Regulation M</I>.</B> Neither the Company nor any
of its subsidiaries has taken, directly or indirectly, any action designed to or that might cause or result in stabilization or
manipulation of the price of the Shares or of any &ldquo;reference security&rdquo; (as defined in Rule 100 of Regulation M under
the Exchange Act (<B>&ldquo;Regulation M&rdquo;</B>)) with respect to the Shares, whether to facilitate the sale or resale of the
Offered Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(cc)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Related-Party Transactions</I>.</B> There are no business relationships or related-party transactions involving
the Company or any of its subsidiaries or any other person required to be described in the Registration Statement, the Time of
Sale Prospectus or the Prospectus that have not been described as required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(dd)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>FINRA Matters</I>.</B> All of the information provided to the Underwriters or to counsel for the Underwriters
by the Company, its counsel, its officers and directors and the holders of any securities (debt or equity) or options to acquire
any securities of the Company in connection with the offering of the Offered Shares is true, complete, correct and compliant with
FINRA&rsquo;s rules and any letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rules or NASD
Conduct Rules is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ee)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Parties to Lock-Up Agreements</I>.</B> The Company has furnished to the Underwriters a letter agreement
in the form attached hereto as <U>Exhibit&nbsp;C</U> (the &ldquo;<B>Lock-up Agreement</B>&rdquo;) from each of the persons listed
on <U>Exhibit&nbsp;D</U>. Such <U>Exhibit&nbsp;D</U> lists under an appropriate caption the directors and officers of the Company
and such other persons as have executed the Lock-up Agreement. If any additional persons shall become directors or officers of
the Company prior to the end of the Company Lock-up Period (as defined below), the Company shall cause each such person, prior
to or contemporaneously with their appointment or election as a director or officer of the Company, to execute and deliver to Jefferies
a Lock-up Agreement.<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ff)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Statistical and Market-Related Data</I>.</B> All statistical, demographic and market-related data included
in the Registration Statement, the Time of Sale Prospectus or the Prospectus are based on or derived from sources that the Company
believes, after reasonable inquiry, to be reliable and accurate. To the extent required, the Company has obtained the written consent
to the use of such data from such sources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(gg)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Unlawful Contributions or Other Payments</I>.</B> Neither the Company nor any of its subsidiaries nor,
to the best of the Company&rsquo;s knowledge, any employee or agent of the Company or any subsidiary, has made any contribution
or other payment to any official of, or candidate for, any federal, state or foreign office in violation of any law or of the character
required to be disclosed in the Registration Statement, the Time of Sale Prospectus or the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(hh)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Foreign Corrupt Practices Act</I>.</B> Neither the Company nor any of its subsidiaries nor, to the knowledge
of the Company, any director, officer, agent, employee, affiliate or other person acting on behalf of the Company or any of its
subsidiaries has, in the course of its actions for, or on behalf of, the Company or any of its subsidiaries (i) used any corporate
funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any
direct or indirect unlawful payment to any domestic government official, &ldquo;foreign official&rdquo; (as defined in the U.S.
Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the &ldquo;<B>FCPA</B>&rdquo;)
or employee from corporate funds; (iii)&nbsp;violated or is in violation of any provision of the FCPA or any applicable non-U.S.
anti-bribery statute or regulation; or (iv)&nbsp;made any unlawful bribe, rebate, payoff, influence payment, kickback or other
unlawful payment to any domestic government official, such foreign official or employee; and the Company and its subsidiaries and,
to the knowledge of the Company, the Company&rsquo;s affiliates have conducted their respective businesses in compliance with the
FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue
to ensure, continued compliance therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Money Laundering Laws</I>.</B> The operations of the Company and its subsidiaries are, and have been conducted
at all times, in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions
Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder
and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency
(collectively, the &ldquo;<B>Money Laundering Laws</B>&rdquo;) and no action, suit or proceeding by or before any court or governmental
agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering
Laws is pending or, to the best knowledge of the Company, threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(jj)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>OFAC</I>.</B> Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any
director, officer, agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently
subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (&ldquo;<B>OFAC</B>&rdquo;);
and the Company will not directly or indirectly use the proceeds of this offering, or lend, contribute or otherwise make available
such proceeds to any subsidiary, or any joint venture partner or other person or entity, for the purpose of financing the activities
of or business with any person, or in any country or territory, that currently is the subject to any U.S. sanctions administered
by OFAC or in any other manner that will result in a violation by any person (including any person participating in the transaction
whether as underwriter, advisor, investor or otherwise) of U.S. sanctions administered by OFAC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(kk)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Brokers</I>.</B> Except pursuant to this Agreement, there is no broker, finder or other party that is entitled
to receive from the Company any brokerage or finder&rsquo;s fee or other fee or commission as a result of any transactions contemplated
by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ll)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Forward-Looking Statements.</I></B> Each financial or operational projection or other &ldquo;forward-looking
statement&rdquo; (as defined by Section 27A of the Securities Act or Section 21E of the Exchange Act) contained in the Registration
Statement, the Time of Sale Prospectus or the Prospectus (i)&nbsp;was so included by the Company in good faith and with reasonable
basis after due consideration by the Company of the underlying assumptions, estimates and other applicable facts and circumstances
and (ii)&nbsp;is accompanied by meaningful cautionary statements identifying those factors that could cause actual results to differ
materially from those in such forward-looking statement. No such statement was made with the knowledge of an executive officer
or director of the Company that it was false or misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(mm)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Clinical Data and Regulatory Compliance.</I></B> The preclinical tests and clinical trials, and other studies
(collectively, &ldquo;studies&rdquo;) that are described in, or the results of which are referred to in, the Registration Statement,
the Time of Sale Prospectus or the Prospectus were and, if still pending, are being conducted in all material respects in accordance
with the protocols, procedures and controls designed and approved for such studies and with standard medical and scientific research
procedures; each description of the results of such studies is accurate and complete in all material respects and fairly presents
the data derived from such studies, and the Company and its subsidiaries have no knowledge of any other studies the results of
which are inconsistent with, or otherwise call into question, the results described or referred to in the Registration Statement,
the Time of Sale Prospectuses or the Prospectus; the Company and its subsidiaries have made all such filings and obtained all such
approvals as may be required by the Food and Drug Administration of the U.S. Department of Health and Human Services or any committee
thereof or from any other U.S. or foreign government or drug or medical device regulatory agency, or health care facility Institutional
Review Board (collectively, the &ldquo;<B>Regulatory Agencies</B>&rdquo;); neither the Company nor any of its subsidiaries has
received any notice of, or correspondence from, any Regulatory Agency requiring the termination, suspension or modification of
any clinical trials that are described or referred to in the Registration Statement, the Time of Sale Prospectus or the Prospectus;
and the Company and its subsidiaries have each operated and currently are in compliance in all material respects with all applicable
rules, regulations and policies of the Regulatory Agencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(nn)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Contract Terminations.</I></B> Neither the Company nor any of its subsidiaries has sent or received
any communication regarding termination of, or intent not to renew, any of the contracts or agreements referred to or described
in any preliminary prospectus, the Prospectus or any free writing prospectus, or referred to or described in, or filed as an exhibit
to, the Registration Statement, or any document incorporated by reference therein, and no such termination or non-renewal has been
threatened by the Company or any of its subsidiaries or, to the Company&rsquo;s knowledge, any other party to any such contract
or agreement, which threat of termination or non-renewal has not been rescinded as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any certificate signed by any officer of
the Company or any of its subsidiaries and delivered to any Underwriter or to counsel for the Underwriters in connection with the
offering, or the purchase and sale, of the Offered Shares shall be deemed a representation and warranty by the Company to each
Underwriter as to the matters covered thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has a reasonable basis for making
each of the representations set forth in this Section 1. The Company acknowledges that the Underwriters and, for purposes of the
opinions to be delivered pursuant to <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 6 hereof, counsel to the Company and counsel
to the Underwriters, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such
reliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase, Sale and Delivery of the Offered Shares</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>The Firm Shares</I>.</B> Upon the terms herein set forth, the Company agrees to issue and sell to the several
Underwriters an aggregate of 5,000,000 Firm Shares. On the basis of the representations, warranties and agreements herein contained,
and upon the terms but subject to the conditions herein set forth, the Underwriters agree, severally and not jointly, to purchase
from the Company the respective number of Firm Shares set forth opposite their names on <U>Schedule</U> A. The purchase price per
Firm Share to be paid by the several Underwriters to the Company shall be $15.04 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><B><I>The
First Closing Date</I>.</B> Delivery of certificates for the Firm Shares to be purchased by the Underwriters and payment
therefor shall be made at the offices of Covington &amp; Burling LLP, 620 Eighth Avenue, New York, NY 10018 (or such other
place as may be agreed to by the Company and the Representative) at 9:00 a.m. New York City time, on October 19, 2017, or
such other time and date not later than 1:30&nbsp;p.m. New York City time, on November 2, 2017 as the Representative shall
designate by notice to the Company (the time and date of such closing are called the &ldquo;<B>First Closing
Date</B>&rdquo;). The Company hereby acknowledges that circumstances under which the Representative may provide notice to
postpone the First Closing Date as originally scheduled include, but are not limited to, any determination by the Company or
the Representative to recirculate to the public copies of an amended or supplemented Prospectus or a delay as contemplated by
the provisions of Section 11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>The Optional Shares; Option Closing Date</I>.</B> In addition, on the basis of the representations, warranties
and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Company hereby grants an
option to the several Underwriters to purchase, severally and not jointly, up to an aggregate of 750,000 Optional Shares from
the Company at the purchase price per share to be paid by the Underwriters for the Firm Shares, less an amount per share equal
to any dividend or distribution declared by the Company and payable on the Firm Shares but not payable on Optional Shares. The
option granted hereunder may be exercised at any time and from time to time in whole or in part upon notice by the Representative
to the Company, which notice may be given at any time within 30&nbsp;days from the date of this Agreement. Such notice shall set
forth (i)&nbsp;the aggregate number of Optional Shares as to which the Underwriters are exercising the option and (ii)&nbsp;the
time, date and place at which certificates for the Optional Shares will be delivered (which time and date may be simultaneous with,
but not earlier than, the First Closing Date; and in the event that such time and date are simultaneous with the First Closing
Date, the term &ldquo;<B>First Closing Date</B>&rdquo; shall refer to the time and date of delivery of certificates for the Firm
Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an &ldquo;<B>Option
Closing Date</B>,&rdquo; shall be determined by the Representative and shall not be earlier than three or later than five full
business days after delivery of such notice of exercise. If any Optional Shares are to be purchased,&nbsp;each Underwriter agrees,
severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares
as the Representative may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the
number of Firm Shares set forth on <U>Schedule A</U> opposite the name of such Underwriter bears to the total number of Firm Shares.
The Representative may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Public Offering of the Offered Shares</I>.</B> The Representative hereby advises the Company that the Underwriters
intend to offer for sale to the public, initially on the terms set forth in the Registration Statement, the Time of Sale Prospectus
and the Prospectus, their respective portions of the Offered Shares as soon after this Agreement has been executed as the Representative,
in its sole judgment, has determined is advisable and practicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Payment for the Offered Shares</I>.</B> (i) Payment for the Offered Shares shall be made at the First Closing
Date (and, if applicable, at each Option Closing Date) by wire transfer of immediately available funds to the order of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>It is understood that the Representative has been authorized, for its own account and the accounts of the several Underwriters,
to accept delivery of and receipt for, and make payment of the purchase price for, the Firm Shares and any Optional Shares the
Underwriters have agreed to purchase. Jefferies, individually and not as the Representative of the Underwriters, may (but shall
not be obligated to) make payment for any Offered Shares to be purchased by any Underwriter whose funds shall not have been received
by the Representative by the First Closing Date or the applicable Option Closing Date, as the case may be, for the account of such
Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Delivery of the Offered Shares</I>.</B> The Company shall deliver, or cause to be delivered to the Representative
for the accounts of the several Underwriters certificates for the Firm Shares at the First Closing Date, against release of a wire
transfer of immediately available funds for the amount of the purchase price therefor. The Company shall also deliver, or cause
to be delivered to the Representative for the accounts of the several Underwriters, certificates for the Optional Shares the Underwriters
have agreed to purchase at the First Closing Date or the applicable Option Closing Date, as the case may be, against the release
of a wire transfer of immediately available funds for the amount of the purchase price therefor. The certificates for the Offered
Shares shall be registered in such names and denominations as the Representative shall have requested at least two full business
days prior to the First Closing Date (or the applicable Option Closing Date, as the case may be) and shall be made available for
inspection on the business day preceding the First Closing Date (or the applicable Option Closing Date, as the case may be) at
a location in New York City as the Representative may designate. Time shall be of the essence, and delivery at the time and place
specified in this Agreement is a further condition to the obligations of the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Additional Covenants of the Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company further covenants and agrees
with each Underwriter as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Delivery of Registration Statement, Time of Sale Prospectus and Prospectus.</I></B> The Company shall furnish
to you in New York City, without charge, prior to 10:00 a.m. New York City time on the business day next succeeding the date of
this Agreement and during the period when a prospectus relating to the Offered Shares is required by the Securities Act to be delivered
(whether physically or through compliance with Rule 172 under the Securities Act or any similar rule) in connection with sales
of the Offered Shares, as many copies of the Time of Sale Prospectus, the Prospectus and any supplements and amendments thereto
or to the Registration Statement as you may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Representative&rsquo;s Review of Proposed Amendments and Supplements.</I></B> During the period when a
prospectus relating to the Offered Shares is required by the Securities Act to be delivered (whether physically or through compliance
with Rule 172 under the Securities Act or any similar rule), the Company (i) will furnish to the Representative for review, a reasonable
period of time prior to the proposed time of filing of any proposed amendment or supplement to the Registration Statement, a copy
of each such amendment or supplement and (ii) will not amend or supplement the Registration Statement (including any amendment
or supplement through incorporation of any report filed under the Exchange Act) without the Representative&rsquo;s prior written
consent, which shall not be unreasonably withheld. Prior to amending or supplementing any preliminary prospectus, the Time of Sale
Prospectus or the Prospectus (including any amendment or supplement through incorporation of any report filed under the Exchange
Act), the Company shall furnish to the Representative for review, a reasonable amount of time prior to the time of filing or use
of the proposed amendment or supplement, a copy of each such proposed amendment or supplement. The Company shall not file or use
any such proposed amendment or supplement without the Representative&rsquo;s prior written consent, which shall not be unreasonably
withheld. The Company shall file with the Commission within the applicable period specified in Rule 424(b) under the Securities
Act any prospectus required to be filed pursuant to such Rule.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Free Writing Prospectuses.</I></B> The Company shall furnish to the Representative for review, a reasonable
amount of time prior to the proposed time of filing or use thereof, a copy of each proposed free writing prospectus or any amendment
or supplement thereto prepared by or on behalf of, used by, or referred to by the Company, and the Company shall not file, use
or refer to any proposed free writing prospectus or any amendment or supplement thereto without the Representative&rsquo;s prior
written consent, which shall not be unreasonably withheld. The Company shall furnish to each Underwriter, without charge, as many
copies of any free writing prospectus prepared by or on behalf of, used by or referred to by the Company as such Underwriter may
reasonably request. If at any time when a prospectus is required by the Securities Act to be delivered (whether physically or through
compliance with Rule 172 under the Securities Act or any similar rule) in connection with sales of the Offered Shares (but in any
event if at any time through and including the First Closing Date) there occurred or occurs an event or development as a result
of which any free writing prospectus prepared by or on behalf of, used by, or referred to by the Company conflicted or would conflict
with the information contained in the Registration Statement or included or would include an untrue statement of a material fact
or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
prevailing at such time, not misleading, the Company shall promptly amend or supplement such free writing prospectus to eliminate
or correct such conflict so that the statements in such free writing prospectus as so amended or supplemented will not include
an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the
light of the circumstances prevailing at such time, not misleading, as the case may be; <I>provided, however</I>, that prior to
amending or supplementing any such free writing prospectus, the Company shall furnish to the Representative for review, a reasonable
amount of time prior to the proposed time of filing or use thereof, a copy of such proposed amended or supplemented free writing
prospectus, and the Company shall not file, use or refer to any such amended or supplemented free writing prospectus without the
Representative&rsquo;s prior written consent, which shall not be unreasonably withheld.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Filing of Underwriter Free Writing Prospectuses.</I></B> The Company shall not take any action that would
result in an Underwriter or the Company being required to file with the Commission pursuant to Rule 433(d) under the Securities
Act a free writing prospectus prepared by or on behalf of such Underwriter that such Underwriter otherwise would not have been
required to file thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Amendments and Supplements to Time of Sale Prospectus.</I></B> If the Time of Sale Prospectus is being
used to solicit offers to buy the Offered Shares at a time when the Prospectus is not yet available to prospective purchasers,
and any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Time of Sale Prospectus
so that the Time of Sale Prospectus does not include an untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances when delivered to a prospective purchaser, not misleading,
or if any event shall occur or condition exist as a result of which the Time of Sale Prospectus conflicts with the information
contained in the Registration Statement, or if, in the opinion of counsel for the Underwriters, it is necessary to amend or supplement
the Time of Sale Prospectus to comply with applicable law, the Company shall (subject to Section 3(b) and Section 3(c) hereof)
promptly prepare, file with the Commission and furnish, at its own expense, to the Underwriters and to any dealer upon request,
either amendments or supplements to the Time of Sale Prospectus so that the statements in the Time of Sale Prospectus as so amended
or supplemented will not include an untrue statement of a material fact or omit to state a material fact necessary in order to
make the statements therein, in the light of the circumstances when delivered to a prospective purchaser, not misleading or so
that the Time of Sale Prospectus, as amended or supplemented, will no longer conflict with the information contained in the Registration
Statement, or so that the Time of Sale Prospectus, as amended or supplemented, will comply with applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Certain Notifications and Required Actions</I>.</B> After the date of this Agreement, the Company shall
promptly advise the Representative in writing of: (i) the receipt of any comments of, or requests for additional or supplemental
information from, the Commission; (ii)&nbsp;the time and date of any filing of any post-effective amendment to the Registration
Statement or any amendment or supplement to any preliminary prospectus, the Time of Sale Prospectus, any free writing prospectus
or the Prospectus; (iii) the time and date that any post-effective amendment to the Registration Statement becomes effective; and
(iv) the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any post-effective
amendment thereto or any amendment or supplement to any preliminary prospectus, the Time of Sale Prospectus or the Prospectus or
of any order preventing or suspending the use of any preliminary prospectus, the Time of Sale Prospectus, any free writing prospectus
or the Prospectus, or of any proceedings to remove, suspend or terminate from listing or quotation the Shares from any securities
exchange upon which they are listed for trading or included or designated for quotation, or of the threatening or initiation of
any proceedings for any of such purposes. If the Commission shall enter any such stop order at any time, the Company will use its
reasonable best efforts to obtain the lifting of such order at the earliest possible moment. Additionally, the Company agrees that
it shall comply with all applicable provisions of Rule&nbsp;424(b), Rule 433 and Rule 430B under the Securities Act and will use
its reasonable efforts to confirm that any filings made by the Company under Rule 424(b) or Rule 433 were received in a timely
manner by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Amendments and Supplements to the Prospectus and Other Securities Act Matters.</I></B> If any event shall
occur or condition exist as a result of which it is necessary to amend or supplement the Prospectus so that the Prospectus does
not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein,
in the light of the circumstances when the Prospectus is delivered (whether physically or through compliance with Rule 172 under
the Securities Act or any similar rule) to a purchaser, not misleading, or if in the opinion of the Representative or counsel for
the Underwriters it is otherwise necessary to amend or supplement the Prospectus to comply with applicable law, the Company agrees
(subject to Section 3(b) and Section 3(c) hereof) to promptly prepare, file with the Commission and furnish, at its own expense,
to the Underwriters and to any dealer upon request, amendments or supplements to the Prospectus so that the statements in the Prospectus
as so amended or supplemented will not include an untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances when the Prospectus is delivered (whether physically
or through compliance with Rule 172 under the Securities Act or any similar rule) to a purchaser, not misleading or so that the
Prospectus, as amended or supplemented, will comply with applicable law. Neither the Representative&rsquo;s consent to, nor delivery
of, any such amendment or supplement shall constitute a waiver of any of the Company&rsquo;s obligations under Section 3(b) or
Section 3(c).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Blue Sky Compliance</I>.</B> The Company shall cooperate with the Representative and counsel for the Underwriters
to qualify or register the Offered Shares for sale under (or obtain exemptions from the application of) the state securities or
blue sky laws or Canadian provincial securities laws (or other foreign laws) of those jurisdictions designated by the Representative,
shall comply with such laws and shall continue such qualifications, registrations and exemptions in effect so long as required
for the distribution of the Offered Shares. The Company shall not be required to qualify as a foreign corporation or to take any
action that would subject it to general service of process in any such jurisdiction where it is not presently qualified or where
it would be subject to taxation as a foreign corporation. The Company will advise the Representative promptly of the suspension
of the qualification or registration of (or any such exemption relating to) the Offered Shares for offering, sale or trading in
any jurisdiction or any initiation or threat of any proceeding for any such purpose, and in the event of the issuance of any order
suspending such qualification, registration or exemption, the Company shall use its reasonable best efforts to obtain the withdrawal
thereof at the earliest possible moment.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Use of Proceeds</I>.</B> The Company shall apply the net proceeds from the sale of the Offered Shares sold
by it in the manner described under the caption &ldquo;Use of Proceeds&rdquo; in the Registration Statement, the Time of Sale Prospectus
and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Transfer Agent</I>.</B> The Company shall engage and maintain, at its expense, a registrar and transfer
agent for the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Earnings Statement</I>.</B> The Company will make generally available to its security holders and to the
Representative as soon as practicable an earnings statement (which need not be audited) covering a period of at least twelve months
beginning with the first fiscal quarter of the Company commencing after the date of this Agreement that will satisfy the provisions
of Section 11(a) of the Securities Act and the rules and regulations of the Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(l)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Continued Compliance with Securities Laws</I>.</B> The Company will comply with the Securities Act and
the Exchange Act so as to permit the completion of the distribution of the Offered Shares as contemplated by this Agreement<B>,
</B>the Registration Statement, the Time of Sale Prospectus and the Prospectus. Without limiting the generality of the foregoing,
the Company will, during the period when a prospectus relating to the Offered Shares is required by the Securities Act to be delivered
(whether physically or through compliance with Rule 172 under the Securities Act or any similar rule), file on a timely basis with
the Commission and the NASDAQ all reports and documents required to be filed under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(m)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Listing</I>.</B> The Company will use its best efforts to list, subject to notice of issuance, the Offered
Shares on the NASDAQ Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(n)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Company to Provide Copy of the Prospectus in Form That May be Downloaded from the Internet</I>.</B> If
requested by the Representative, the Company shall cause to be prepared and delivered, at its expense, within one business day
from the effective date of this Agreement, to the Representative an &ldquo;<B>electronic Prospectus</B>&rdquo; to be used by the
Underwriters in connection with the offering and sale of the Offered Shares. As used herein, the term &ldquo;<B>electronic Prospectus</B>&rdquo;
means a form of Time of Sale Prospectus, and any amendment or supplement thereto, that meets each of the following conditions:
(i) it shall be encoded in an electronic format, satisfactory to the Representative, that may be transmitted electronically by
the Representative and the other Underwriters to offerees and purchasers of the Offered Shares; (ii)&nbsp;it shall disclose the
same information as the paper Time of Sale Prospectus, except to the extent that graphic and image material cannot be disseminated
electronically, in which case such graphic and image material shall be replaced in the electronic Prospectus with a fair and accurate
narrative description or tabular representation of such material, as appropriate; and (iii)&nbsp;it shall be in or convertible
into a paper format or an electronic format, satisfactory to Jefferies, that will allow investors to store and have continuously
ready access to the Time of Sale Prospectus at any future time, without charge to investors (other than any fee charged for subscription
to the Internet as a whole and for on-line time). The Company hereby confirms that it has included or will include in the Prospectus
filed pursuant to EDGAR or otherwise with the Commission and in the Registration Statement at the time it was declared effective
an undertaking that, upon receipt of a request by an investor or his or her representative, the Company shall transmit or cause
to be transmitted promptly, without charge, a paper copy of the Time of Sale Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(o)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Agreement Not to Offer or Sell Additional Shares</I>.</B> During the period commencing on and including
the date hereof and continuing through and including the 90th day following the date of the Prospectus (such period, as extended
as described below, being referred to herein as the &ldquo;<B>Lock-up Period</B>&rdquo;), the Company will not, without the prior
written consent of Jefferies (which consent may be withheld in its sole discretion), directly or indirectly: (i) sell, offer to
sell, contract to sell or lend any Shares or Related Securities (as defined below); (ii) effect any short sale, or establish or
increase any &ldquo;put equivalent position&rdquo; (as defined in Rule 16a-1(h) under the Exchange Act) or liquidate or decrease
any &ldquo;call equivalent position&rdquo; (as defined in Rule&nbsp;16a-1(b) under the Exchange Act) of any Shares or Related Securities;
(iii) pledge, hypothecate or grant any security interest in any Shares or Related Securities; (iv)&nbsp;in any other way transfer
or dispose of any Shares or Related Securities; (v)&nbsp;enter into any swap, hedge or similar arrangement or agreement that transfers,
in whole or in part, the economic risk of ownership of any Shares or Related Securities, regardless of whether any such transaction
is to be settled in securities, in cash or otherwise; (vi) announce the offering of any Shares or Related Securities; (vii) file
any registration statement under the Securities Act in respect of any Shares or Related Securities (other than as contemplated
by this Agreement with respect to the Offered Shares); or (viii) publicly announce the intention to do any of the foregoing; <I>provided,
however</I>, that the Company may (A) effect the transactions contemplated hereby, (B) issue Shares or options to purchase Shares,
or issue Shares upon exercise of options, pursuant to any stock option, stock bonus or other stock plan or arrangement described
in the Registration Statement, the Time of Sale Prospectus and the Prospectus, provided that any directors or officers who are
recipients thereof have provided to the Representative a signed Lock-Up Agreement in the form of <U>Exhibit C</U> hereto and (C)
issue Shares in connection with the exercise of those warrants issued on May 11, 2015, as described in the Registration Statement,
the Time of Sale Prospectus and the Prospectus. For purposes of the foregoing, &ldquo;<B>Related Securities</B>&rdquo; shall mean
any options or warrants or other rights to acquire Shares or any securities exchangeable or exercisable for or convertible into
Shares, or to acquire other securities or rights ultimately exchangeable or exercisable for, or convertible into, Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(p)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Future Reports to the Representative.</I></B> During the period of five years hereafter, the Company will
furnish to the Representative, c/o Jefferies, at 520 Madison Avenue, New York, New York 10022, Attention: Global Head of Syndicate:
(i) as soon as practicable after the end of each fiscal year, copies of the Annual Report of the Company containing the balance
sheet of the Company as of the close of such fiscal year and statements of income, stockholders&rsquo; equity and cash flows for
the year then ended and the opinion thereon of the Company&rsquo;s independent public or certified public accountants; (ii) as
soon as practicable after the filing thereof, copies of each proxy statement, Annual Report on Form 10-K, Quarterly Report on Form
10-Q, Current Report on Form 8-K or other report filed by the Company with the Commission or any securities exchange; and (iii)
as soon as available, copies of any report or communication of the Company furnished or made available generally to holders of
its capital stock; <I>provided, however,</I> that the requirements of this Section 3(p) shall be satisfied to the extent that such
reports, statement, communications, financial statements or other documents are available on EDGAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(q)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Investment Limitation</I>.</B> The Company shall not invest or otherwise use the proceeds received by the
Company from its sale of the Offered Shares in such a manner as would require the Company or any of its subsidiaries to register
as an investment company under the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(r)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Stabilization or Manipulation; Compliance with Regulation M</I>. </B> The Company will not take, and
will ensure that no affiliate of the Company will take, directly or indirectly, any action designed to or that might cause or result
in stabilization or manipulation of the price of the Shares or any reference security with respect to the Shares, whether to facilitate
the sale or resale of the Offered Shares or otherwise, and the Company will, and shall cause each of its affiliates to, comply
with all applicable provisions of Regulation M.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(s)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Enforce Lock-Up Agreements</I>.</B> During the Lock-up Period, the Company will enforce all agreements
between the Company and any of its security holders that restrict or prohibit, expressly or in operation, the offer, sale or transfer
of Shares or Related Securities or any of the other actions restricted or prohibited under the terms of the form of Lock-up Agreement.
In addition, the Company will direct the transfer agent to place stop transfer restrictions upon any such securities of the Company
that are bound by such &ldquo;lock-up&rdquo; agreements for the duration of the periods contemplated in such agreements, including,
without limitation, &ldquo;lock-up&rdquo; agreements entered into by the Company&rsquo;s officers and directors and stockholders
pursuant to Section 6(i) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(t)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Company to Provide Interim Financial Statements</I>.</B> Prior to the First Closing Date and each applicable
Option Closing Date, the Company will furnish the Underwriters, as soon as they have been prepared by or are available to the Company,
a copy of any unaudited interim financial statements of the Company for any period subsequent to the period covered by the most
recent financial statements appearing in the Registration Statement and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Representative,
on behalf of the several Underwriters, may, in its sole discretion, waive in writing the performance by the Company of any one
or more of the foregoing covenants or extend the time for their performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment of Expenses.</B> The Company agrees to pay all costs, fees and expenses incurred in connection with the performance
of its obligations hereunder and in connection with the transactions contemplated hereby, including without limitation (i)&nbsp;all
expenses incident to the issuance and delivery of the Offered Shares (including all printing and engraving costs), (ii)&nbsp;all
fees and expenses of the registrar and transfer agent of the Shares, (iii)&nbsp;all necessary issue, transfer and other stamp taxes
in connection with the issuance and sale of the Offered Shares to the Underwriters, (iv)&nbsp;all fees and expenses of the Company&rsquo;s
counsel, independent public or certified public accountants and other advisors, (v)&nbsp;all costs and expenses incurred in connection
with the preparation, printing, filing, shipping and distribution of the Registration Statement (including financial statements,
exhibits, schedules, consents and certificates of experts), the Time of Sale Prospectus, the Prospectus, each free writing prospectus
prepared by or on behalf of, used by, or referred to by the Company, and each preliminary prospectus, and all amendments and supplements
thereto, and this Agreement, (vi)&nbsp;all filing fees, reasonable and documented attorneys&rsquo; fees and expenses incurred by
the Company or the Underwriters in connection with qualifying or registering (or obtaining exemptions from the qualification or
registration of) all or any part of the Offered Shares for offer and sale under the state securities or blue sky laws or the provincial
securities laws of Canada, and, if requested by the Representative, preparing and printing a &ldquo;Blue Sky Survey&rdquo; or memorandum
and a &ldquo;Canadian wrapper&rdquo;, and any supplements thereto, advising the Underwriters of such qualifications, registrations
and exemptions, (vii)&nbsp;the costs, fees and expenses incurred by the Underwriters in connection with determining their compliance
with the rules and regulations of FINRA related to the Underwriters&rsquo; participation in the offering and distribution of the
Offered Shares, including any related filing fees and the reasonable and documented legal fees of, and disbursements by, counsel
to the Underwriters, such fees of counsel to the Underwriters in subclauses (vi) and (vii) not to exceed $12,000, (viii)&nbsp;the
costs and expenses of the Company relating to investor presentations on any &ldquo;road show&rdquo;, including, without limitation,
expenses associated with the preparation or dissemination of any electronic road show, expenses associated with the production
of road show slides and graphics, fees and expenses of any consultants engaged in connection with the road show presentations with
the prior approval of the Company, travel and lodging expenses of the representatives, employees and officers of the Company and
any such consultants, and the cost of any aircraft chartered in connection with the road show, (ix)&nbsp;the fees and expenses
associated with listing the Offered Shares on the NASDAQ, and (x)&nbsp;all other fees, costs and expenses of the nature referred
to in Item 14 of Part&nbsp;II of the Registration Statement. Except as provided in this <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section
4 or in <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 7, <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 9
or <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 10 hereof, the Underwriters shall pay their own expenses, including
the fees and disbursements of their counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Covenant of the Underwriters.</B> Each Underwriter severally and not jointly covenants with the Company not to take any
action that would result in the Company being required to file with the Commission pursuant to Rule 433(d) under the Securities
Act a free writing prospectus prepared by or on behalf of such Underwriter that otherwise would not, but for such actions, be required
to be filed by the Company under Rule 433(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions of the Obligations of the Underwriters.</B> The respective obligations of the several Underwriters hereunder
to purchase and pay for the Offered Shares as provided herein on the First Closing Date and, with respect to the Optional Shares,
each Option Closing Date, shall be subject to the accuracy of the representations and warranties on the part of the Company set
forth in <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 1 hereof as of the date hereof and as of the First Closing Date
as though then made and, with respect to the Optional Shares, as of each Option Closing Date as though then made, to the timely
performance by the Company of its covenants and other obligations hereunder, and to each of the following additional conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Comfort Letter</I>.</B> On the date hereof, the Representative shall have received from Whitley Penn LLP,
independent registered public accountants for the Company, a letter dated the date hereof addressed to the Underwriters, in form
and substance satisfactory to the Representative, containing statements and information of the type ordinarily included in accountant&rsquo;s
&ldquo;comfort letters&rdquo; to underwriters, delivered according to Statement of Auditing Standards No. 72 (or any successor
bulletin), with respect to the audited and unaudited financial statements and certain financial information contained in the Registration
Statement, the Time of Sale Prospectus, and each free writing prospectus, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Compliance with Registration Requirements; No Stop Order; No Objection from FINRA. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall have filed the Prospectus with the Commission (including the information previously omitted from the Registration
Statement pursuant to Rule 430B under the Securities Act) in the manner and within the time period required by Rule 424(b) under
the Securities Act; or the Company shall have filed a post-effective amendment to the Registration Statement containing the information
previously omitted from the Registration Statement pursuant to such Rule 430B, and such post-effective amendment shall have become
effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No stop order suspending the effectiveness of the Registration Statement or any post-effective amendment to the Registration
Statement shall be in effect, and no proceedings for such purpose shall have been instituted or threatened by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If a filing has been made with FINRA, FINRA shall have raised no objection to the fairness and reasonableness of the underwriting
terms and arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>No Material Adverse Change or Ratings Agency Change</I>.</B> For the period from and after the date of
this Agreement and through and including the First Closing Date and, with respect to any Optional Shares purchased after the First
Closing Date, each Option Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the judgment of the Representative there shall not have occurred any Material Adverse Change; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>there shall not have occurred any downgrading, nor shall any notice have been given of any intended or potential downgrading
or of any review for a possible change that does not indicate the direction of the possible change, in the rating accorded any
securities of the Company or any of its subsidiaries by any &ldquo;nationally recognized statistical rating organization&rdquo;
as that term is used in Rule&nbsp;15c3-1(c)(2)(vi)(F) under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Opinion of Counsel for the Company</I>.</B> On each of the First Closing Date and each Option Closing Date
the Representative shall have received the opinion of Morgan, Lewis &amp; Bockius LLP, counsel for the Company, dated as of such
date, in the form and substance satisfactory to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Opinion of Intellectual Property Counsel for the Company.</I></B> On each of the First Closing Date and
each Option Closing Date, the Representative shall have received the opinion of Foley &amp; Lardner LLP, counsel for the Company
with respect to intellectual property matters, dated as of such date, in the form and substance satisfactory to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Opinion of Counsel for the Underwriters</I>.</B> On each of the First Closing Date and each Option Closing
Date the Representative shall have received the opinion of Covington &amp; Burling LLP, counsel for the Underwriters in connection
with the offer and sale of the Offered Shares, in form and substance satisfactory to the Underwriters, dated as of such date, with
executed copies for each of the other Underwriters named on the Prospectus cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Officers&rsquo; Certificate</I>.</B> On each of the First Closing Date and each Option Closing Date, the
Representative shall have received a certificate executed by the Chief Executive Officer or President of the Company and the Chief
Financial Officer of the Company, dated as of such date, to the effect set forth in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
6(b)(ii) and further to the effect that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>for the period from and including the date of this Agreement through and including such date, there has not occurred any
Material Adverse Change;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the representations, warranties and covenants of the Company set forth in Section 1 of this Agreement are true and correct
with the same force and effect as though expressly made on and as of such date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company has complied with all the agreements hereunder and satisfied all the conditions on its part to be performed
or satisfied hereunder at or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Bring-down Comfort Letter</I>.</B> On each of the First Closing Date and each Option Closing Date the Representative
shall have received from Whitley Penn LLP, independent registered public accountants for the Company, a letter dated such date,
in form and substance satisfactory to the Representative, which letter shall: (i) reaffirm the statements made in the letter furnished
by them pursuant to <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 6(a), except that the specified date referred to therein
for the carrying out of procedures shall be no more than three business days prior to the First Closing Date or the applicable
Option Closing Date, as the case may be; and (ii) cover certain financial information contained in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Lock-Up Agreements.</I></B> On or prior to the date hereof, the Company shall have furnished to the Representative
an agreement in the form of <U>Exhibit C </U>hereto from each of the persons listed on <U>Exhibit D </U>hereto, and each such agreement
shall be in full force and effect on each of the First Closing Date and each Option Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Rule&nbsp;462(b) Registration Statement</I></B>. In the event that a Rule&nbsp;462(b) Registration Statement
is filed in connection with the offering contemplated by this Agreement, such Rule&nbsp;462(b) Registration Statement shall have
been filed with the Commission on the date of this Agreement and shall have become effective automatically upon such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(k)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Additional Documents</I></B>. On or before each of the First Closing Date and each Option Closing Date,
the Representative and counsel for the Underwriters shall have received such information, documents and opinions as they may reasonably
request for the purposes of enabling them to pass upon the issuance and sale of the Offered Shares as contemplated herein, or in
order to evidence the accuracy of any of the representations and warranties, or the satisfaction of any of the conditions or agreements,
herein contained; and all proceedings taken by the Company in connection with the issuance and sale of the Offered Shares as contemplated
herein and in connection with the other transactions contemplated by this Agreement shall be satisfactory in form and substance
to the Representative and counsel for the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If any condition specified in this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
6 is not satisfied when and as required to be satisfied, this Agreement may be terminated by the Representative by notice from
Jefferies to the Company at any time on or prior to the First Closing Date and, with respect to the Optional Shares, at any time
on or prior to the applicable Option Closing Date, which termination shall be without liability on the part of any party to any
other party, except that <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 4, <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
7, <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9 and <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 10 shall at all times
be effective and shall survive such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Reimbursement of Underwriters&rsquo; Expenses</B>. If this Agreement is terminated by the Representative pursuant to <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section
6, <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 11 or <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 12,
or if the sale to the Underwriters of the Offered Shares on the First Closing Date is not consummated because of any refusal, inability
or failure on the part of the Company to perform any agreement herein or to comply with any provision hereof, the Company agrees
to reimburse the Representative and the other Underwriters (or such Underwriters as have terminated this Agreement with respect
to themselves), severally, upon demand for all documented out-of-pocket expenses that shall have been reasonably incurred by the
Representative and the Underwriters in connection with the proposed purchase and the offering and sale of the Offered Shares, including,
but not limited to, fees and disbursements of counsel, printing expenses, travel expenses, postage, facsimile and telephone charges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Effectiveness of this Agreement</B>. This Agreement shall become effective upon&nbsp;the execution and delivery hereof by
the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Indemnification</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Indemnification of the Underwriters</I>.</B> The Company agrees to indemnify and hold harmless each Underwriter,
its affiliates, directors, officers, employees and agents, and each person, if any, who controls any Underwriter within the meaning
of the Securities Act or the Exchange Act against any loss, claim, damage, liability or expense, as incurred, to which such Underwriter
or such affiliate, director, officer, employee, agent or controlling person may become subject, under the Securities Act, the Exchange
Act, other federal or state statutory law or regulation, or the laws or regulations of foreign jurisdictions where Offered Shares
have been offered or sold or at common law or otherwise (including in settlement of any litigation, if such settlement is effected
with the written consent of the Company), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof
as contemplated below) arises out of or is based upon (i)&nbsp;any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement, or any amendment thereto, or the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading; or (ii)&nbsp;any untrue statement
or alleged untrue statement of a material fact included in any preliminary prospectus, the Time of Sale Prospectus, any free writing
prospectus that the Company has used, referred to or filed, or is required to file, pursuant to Rule 433(d) of the Securities Act,
any Marketing Material or the Prospectus (or any amendment or supplement to the foregoing), or the omission or alleged omission
to state therein a material fact necessary in order to make the statements, in the light of the circumstances under which they
were made, not misleading; or (iii)&nbsp;any act or failure to act or any alleged act or failure to act by any Underwriter in connection
with, or relating in any manner to, the Shares or the offering contemplated hereby, and which is included as part of or referred
to in any loss, claim, damage, liability or action arising out of or based upon any matter covered by clause (i) or (ii) above;
and to reimburse each Underwriter and each such affiliate, director, officer, employee, agent and controlling person for any and
all expenses (including the fees and disbursements of counsel) as such expenses are incurred by such Underwriter or such affiliate,
director, officer, employee, agent or controlling person in connection with investigating, defending, settling, compromising or
paying any such loss, claim, damage, liability, expense or action; <I>provided, however</I>, that the foregoing indemnity agreement
shall not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based
upon any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with
information relating to any Underwriter furnished to the Company by the Representative in writing expressly for use in the Registration
Statement, any preliminary prospectus, the Time of Sale Prospectus, any such free writing prospectus, any Marketing Material or
the Prospectus (or any amendment or supplement thereto), it being understood and agreed that the only such information consists
of the information described in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9(b) below. The indemnity agreement set forth
in this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9(a) shall be in addition to any liabilities that the Company may otherwise
have. &ldquo;Marketing Materials&rdquo; means any materials or information provided to investors by, or with the approval of, the
Company in connection with the marketing of the offering of the Offered Shares, including any road show or investor presentations
made to investors by the Company (whether in person or electronically).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Indemnification of the Company, its Directors and Officers.</I></B> Each Underwriter agrees, severally
and not jointly, to indemnify and hold harmless the Company, each of its directors, each of its officers who signed the Registration
Statement and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act, against
any loss, claim, damage, liability or expense, as incurred, to which the Company, or any such director, officer or controlling
person may become subject, under the Securities Act, the Exchange Act, or other federal or state statutory law or regulation, or
at common law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent
of such Underwriter), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated
below) arises out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement, or any amendment thereto, or any omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading or (ii) any untrue statement or alleged untrue
statement of a material fact included in any preliminary prospectus, the Time of Sale Prospectus, any free writing prospectus that
the Company has used, referred to or filed, or is required to file, pursuant to Rule 433 of the Securities Act or the Prospectus
(or any such amendment or supplement) or the omission or alleged omission to state therein a material fact necessary in order to
make the statements, in the light of the circumstances under which they were made, not misleading, in each case to the extent,
but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the
Registration Statement, such preliminary prospectus, the Time of Sale Prospectus, such free writing prospectus or the Prospectus
(or any such amendment or supplement), in reliance upon and in conformity with information relating to such Underwriter furnished
to the Company by the Representative in writing expressly for use therein; and to reimburse the Company, or any such director,
officer or controlling person for any and all expenses (including the fees and disbursements of counsel) as such expenses are incurred
by the Company, or any such director, officer or controlling person in connection with investigating, defending, settling, compromising
or paying any such loss, claim, damage, liability, expense or action. The Company hereby acknowledges that the only information
that the Representative has furnished to the Company expressly for use in the Registration Statement, any preliminary prospectus,
the Time of Sale Prospectus, any free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d)
of the Securities Act or the Prospectus (or any amendment or supplement to the foregoing) are the statements set forth in the first
sentence of the third and fourth paragraph under the caption &ldquo;Underwriting,&rdquo; the first two sentences of the first paragraph
below the title &ldquo;Commission and Expenses,&rdquo; the first sentence of the first paragraph, the third sentence of the second
paragraph and the first sentence of the sixth paragraph below the title &ldquo;Stabilization&rdquo; and the first sentence of the
paragraph below the title &ldquo;Electronic Distribution,&rdquo; in each case under the caption &ldquo;Underwriting&rdquo; in
the Preliminary Prospectus Supplement and the Final Prospectus Supplement. The indemnity agreement set forth in this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
9(b) shall be in addition to any liabilities that each Underwriter may otherwise have.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Notifications and Other Indemnification Procedures</I>.</B> Promptly after receipt by an indemnified party
under this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9 of notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against an indemnifying party under this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
9, notify the indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party will
not relieve the indemnifying party from any liability which it may have to any indemnified party to the extent the indemnifying
party is not materially prejudiced as a proximate result of such failure and shall not in any event relieve the indemnifying party
from any liability that it may have otherwise than on account of this indemnity agreement. In case any such action is brought against
any indemnified party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying
party will be entitled to participate in, and, to the extent that it shall elect, jointly with all other indemnifying parties similarly
notified, by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified
party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party; <I>provided, however</I>,
that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party
shall have reasonably concluded that a conflict may arise between the positions of the indemnifying party and the indemnified party
in conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified parties
which are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have
the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on
behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of such
indemnifying party&rsquo;s election so to assume the defense of such action and approval by the indemnified party of counsel, the
indemnifying party will not be liable to such indemnified party under this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9
for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless (i)&nbsp;the
indemnified party shall have employed separate counsel in accordance with the proviso to the preceding sentence (it being understood,
however, that the indemnifying party shall not be liable for the fees and expenses of more than one separate counsel (together
with local counsel), representing the indemnified parties who are parties to such action), which counsel (together with any local
counsel) for the indemnified parties shall be selected by Jefferies (in the case of counsel for the indemnified parties referred
to in Section 9(a) above) or by the Company (in the case of counsel for the indemnified parties referred to in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
9(b) above)) or (ii)&nbsp;the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent
the indemnified party within a reasonable time after notice of commencement of the action or (iii)&nbsp;the indemnifying party
has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party, in each
of which cases the fees and expenses of counsel shall be at the expense of the indemnifying party and shall be paid as they are
incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B></FONT><B><I>Settlements</I>.</B> The indemnifying party under this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
9 shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent
or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party against any
loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if
at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses
of counsel as contemplated by <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9(c) hereof, the indemnifying party shall be liable
for any settlement of any proceeding effected without its written consent if (i)&nbsp;such settlement is entered into more than
30&nbsp;days after receipt by such indemnifying party of the aforesaid request and (ii)&nbsp;such indemnifying party shall not
have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party
shall, without the prior written consent of the indemnified party (which consent is not to be unreasonably withheld), effect any
settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of
which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified
party, unless such settlement, compromise or consent includes an unconditional release of such indemnified party from all liability
on claims that are the subject matter of such action, suit or proceeding and does not include an admission of fault or culpability
or a failure to act by or on behalf of such indemnified party.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Contribution</B>. If the indemnification provided for in <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 9 is for
any reason held to be unavailable to or otherwise insufficient to hold harmless an indemnified party in respect of any losses,
claims, damages, liabilities or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount
paid or payable by such indemnified party, as incurred, as a result of any losses, claims, damages, liabilities or expenses referred
to therein (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand,
and the Underwriters, on the other hand, from the offering of the Offered Shares pursuant to this Agreement or (ii)&nbsp;if the
allocation provided by clause&nbsp;(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect
not only the relative benefits referred to in clause&nbsp;(i) above but also the relative fault of the Company, on the one hand,
and the Underwriters, on the other hand, in connection with the statements or omissions which resulted in such losses, claims,
damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the
Company, on the one hand, and the Underwriters, on the other hand, in connection with the offering of the Offered Shares pursuant
to this Agreement shall be deemed to be in the same respective proportions as the total proceeds from the offering of the Offered
Shares pursuant to this Agreement (before deducting expenses) received by the Company, and the total underwriting discounts and
commissions received by the Underwriters, in each case as set forth on the front cover page of the Prospectus, bear to the aggregate
initial public offering price of the Offered Shares as set forth on such cover. The relative fault of the Company, on the one hand,
and the Underwriters, on the other hand, shall be determined by reference to, among other things, whether any such untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by
the Company, on the one hand, or the Underwriters, on the other hand, and the parties&rsquo; relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or omission.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The amount paid or payable by a party as
a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the
limitations set forth in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9(c), any legal or other fees or expenses reasonably
incurred by such party in connection with investigating or defending any action or claim. The provisions set forth in <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
9(c) with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
10; <I>provided, however,</I> that no additional notice shall be required with respect to any action for which notice has been
given under <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9(c) for purposes of indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company and the Underwriters agree that
it would not be just and equitable if contribution pursuant to this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 10 were determined
by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation
which does not take account of the equitable considerations referred to in this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the provisions of this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
10, no Underwriter shall be required to contribute any amount in excess of the underwriting discounts and commissions received
by such Underwriter in connection with the Offered Shares underwritten by it and distributed to the public. No person guilty of
fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation. The Underwriters&rsquo; obligations to contribute pursuant
to this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 10 are several, and not joint, in proportion to their respective underwriting
commitments as set forth opposite their respective names on <U>Schedule A</U>. For purposes of this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
10, each affiliate, director, officer, employee and agent of an Underwriter and each person, if any, who controls an Underwriter
within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as such Underwriter, and
each director of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls
the Company within the meaning of the Securities Act and the Exchange Act shall have the same rights to contribution as the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Default of One or More of the Several Underwriters</B><I>.</I> If, on the First Closing Date or any Option Closing Date
any one or more of the several Underwriters shall fail or refuse to purchase Offered Shares that it or they have agreed to purchase
hereunder on such date, and the aggregate number of Offered Shares which such defaulting Underwriter or Underwriters agreed but
failed or refused to purchase does not exceed 10% of the aggregate number of the Offered Shares to be purchased on such date, the
Representative may make arrangements satisfactory to the Company for the purchase of such Offered Shares by other persons, including
any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally
and not jointly, in the proportions that the number of Firm Shares set forth opposite their respective names on <U>Schedule A </U>bears
to the aggregate number of Firm Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions
as may be specified by the Representative with the consent of the non-defaulting Underwriters, to purchase the Offered Shares which
such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the First Closing Date
or any Option Closing Date any one or more of the Underwriters shall fail or refuse to purchase Offered Shares and the aggregate
number of Offered Shares with respect to which such default occurs exceeds 10% of the aggregate number of Offered Shares to be
purchased on such date, and arrangements satisfactory to the Representative and the Company for the purchase of such Offered Shares
are not made within 48 hours after such default, this Agreement shall terminate without liability of any party to any other party
except that the provisions of <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 4, <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section
7, <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 9 and <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 10 shall
at all times be effective and shall survive such termination. In any such case either the Representative or the Company shall have
the right to postpone the First Closing Date or the applicable Option Closing Date, as the case may be, but in no event for longer
than seven days in order that the required changes, if any, to the Registration Statement and the Prospectus or any other documents
or arrangements may be effected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As used in this Agreement, the term &ldquo;<B>Underwriter</B>&rdquo;
shall be deemed to include any person substituted for a defaulting Underwriter under this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
11. Any action taken under this <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 11 shall not relieve any defaulting Underwriter
from liability in respect of any default of such Underwriter under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Termination of this Agreement</B><I>.</I> Prior to the purchase of the Firm Shares by the Underwriters on the First Closing
Date, this Agreement may be terminated by Jefferies by notice given to the Company if at any time: (i)&nbsp;trading or quotation
in any of the Company&rsquo;s securities shall have been suspended or limited by the Commission or by the NASDAQ, or trading in
securities generally on either the NASDAQ or the NYSE shall have been suspended or limited, or minimum or maximum prices shall
have been generally established on any of such stock exchanges; (ii)&nbsp;a general banking moratorium shall have been declared
by any of federal, New York, Delaware or Texas authorities; (iii)&nbsp;there shall have occurred any outbreak or escalation of
national or international hostilities or any crisis or calamity, or any change in the United States or international financial
markets, or any substantial change or development involving a prospective substantial change in United States&rsquo; or international
political, financial or economic conditions, as in the judgment of Jefferies is material and adverse and makes it impracticable
to market the Offered Shares in the manner and on the terms described in the Time of Sale Prospectus or the Prospectus or to enforce
contracts for the sale of securities; (iv)&nbsp;in the judgment of Jefferies there shall have occurred any Material Adverse Change;
or (v) the Company shall have sustained a loss by strike, fire, flood, earthquake, accident or other calamity of such character
as in the judgment of Jefferies may interfere materially with the conduct of the business and operations of the Company regardless
of whether or not such loss shall have been insured. Any termination pursuant to this <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section
12 shall be without liability on the part of (a)&nbsp;the Company to any Underwriter, except that the Company shall be obligated
to reimburse the expenses of the Representative and the Underwriters pursuant to <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section
4 or <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 7 hereof or (b)&nbsp;any Underwriter to the Company; <I>provided,
however,</I> that the provisions of <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 9 and <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section
10 shall at all times be effective and shall survive such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Advisory or Fiduciary Relationship. </B>The Company acknowledges and agrees that (a) the purchase and sale of the Offered
Shares pursuant to this Agreement, including the determination of the public offering price of the Offered Shares and any related
discounts and commissions, is an arm&rsquo;s-length commercial transaction between the Company, on the one hand, and the several
Underwriters, on the other hand, (b) in connection with the offering contemplated hereby and the process leading to such transaction,
each Underwriter is and has been acting solely as a principal and is not the agent or fiduciary of the Company, or its stockholders,
creditors, employees or any other party, (c)&nbsp;no Underwriter has assumed or will assume an advisory or fiduciary responsibility
in favor of the Company with respect to the offering contemplated hereby or the process leading thereto (irrespective of whether
such Underwriter has advised or is currently advising the Company on other matters) and no Underwriter has any obligation to the
Company with respect to the offering contemplated hereby except the obligations expressly set forth in this Agreement, (d) the
Underwriters and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ
from those of the Company, and (e) the Underwriters have not provided any legal, accounting, regulatory or tax advice with respect
to the offering contemplated hereby and the Company has consulted its own legal, accounting, regulatory and tax advisors to the
extent it deemed appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Representations and Indemnities to Survive Delivery</B><I>.</I> The respective indemnities, agreements, representations,
warranties and other statements of the Company, of its officers and of the several Underwriters set forth in or made pursuant to
this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of any Underwriter or
the Company or any of its or their partners, officers or directors or any controlling person, as the case may be, and, anything
herein to the contrary notwithstanding, will survive delivery of and payment for the Offered Shares sold hereunder and any termination
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notices</B>. All communications hereunder shall be in writing and shall be mailed, hand delivered or telecopied and confirmed
to the parties hereto as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 2in; padding-bottom: 1pt; text-align: left">If to the Representative:</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Jefferies LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">520 Madison Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">New York, New York 10022</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Facsimile:&nbsp;&nbsp;(646) 619-4437</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Attention:&nbsp;&nbsp;General Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">with a copy to:</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Covington &amp; Burling LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">620 Eighth Avenue</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">New York, NY 10018</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Facsimile: (646) 441-9101</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Attention: Donald J. Murray</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">If to the Company:</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Abeona Therapeutics Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">3333 Lee Parkway, Suite 600</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Dallas, TX 75219</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Facsimile:&nbsp;&nbsp;(212) 786-6210</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Attention:&nbsp;&nbsp;Steven H. Rouhandeh</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">with a copy to:</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Morgan, Lewis &amp; Bockius LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">One Federal Street</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Boston, MA 02110</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Facsimile: (617) 341-7701</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">Attention: John Concannon III</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any party hereto may change the address for receipt of communications
by giving written notice to the others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR>
</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Successors</B><I>.</I> This Agreement will inure to the benefit of and be binding upon the parties hereto, including any
substitute Underwriters pursuant to <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 11 hereof, and to the benefit of the
affiliates, directors, officers, employees, agents and controlling persons referred to in <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section
9 and <FONT STYLE="font-size: 10pt"><B>&lrm;</B></FONT>Section 10, and in each case their respective successors, and no other person
will have any right or obligation hereunder. The term &ldquo;<B>successors</B>&rdquo; shall not include any purchaser of the Offered
Shares as such from any of the Underwriters merely by reason of such purchase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Partial Unenforceability</B>. The invalidity or unenforceability of any section, paragraph or provision of this Agreement
shall not affect the validity or enforceability of any other section, paragraph or provision hereof. If any section, paragraph
or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such
minor changes (and only such minor changes) as are necessary to make it valid and enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Governing Law Provisions</B><I>.</I> This Agreement shall be governed by and construed in accordance with the internal laws
of the State of New York applicable to agreements made and to be performed in such state. Any legal suit, action or proceeding
arising out of or based upon this Agreement or the transactions contemplated hereby (&ldquo;<B>Related Proceedings</B>&rdquo;)
may be instituted in the federal courts of the United States of America located in the Borough of Manhattan in the City of New
York or the courts of the State of New York in each case located in the Borough of Manhattan in the City of New York (collectively,
the &ldquo;<B>Specified Courts</B>&rdquo;), and each party irrevocably submits to the exclusive jurisdiction (except for proceedings
instituted in regard to the enforcement of a judgment of any such court (a &ldquo;<B>Related Judgment</B>&rdquo;), as to which
such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice
or document by mail to such party&rsquo;s address set forth above shall be effective service of process for any suit, action or
other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue
of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead
or claim in any such court that any such suit, action or other proceeding brought in any such court has been brought in an inconvenient
forum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>General Provisions.</B> This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes
all prior written or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the subject
matter hereof. This Agreement may be executed in two or more counterparts, each one of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument. This Agreement may not be amended or modified unless
in writing by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by
each party whom the condition is meant to benefit. The section headings herein are for the convenience of the parties only and
shall not affect the construction or interpretation of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each of the parties hereto acknowledges
that it is a sophisticated business person who was adequately represented by counsel during negotiations regarding the provisions
hereof, including, without limitation, the indemnification provisions of <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9 and
the contribution provisions of <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 10, and is fully informed regarding said provisions.
Each of the parties hereto further acknowledges that the provisions of <FONT STYLE="font-size: 10pt">&lrm;</FONT>Section 9 and&nbsp;<FONT STYLE="font-size: 10pt">&lrm;</FONT>Section
10 hereof fairly allocate the risks in light of the ability of the parties to investigate the Company, its affairs and its business
in order to assure that adequate disclosure has been made in the Registration Statement, any preliminary prospectus, the Time of
Sale Prospectus, each free writing prospectus and the Prospectus (and any amendments and supplements to the foregoing), as contemplated
by the Securities Act and the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the foregoing is in accordance with your
understanding of our agreement, kindly sign and return to the Company the enclosed copies hereof, whereupon this instrument, along
with all counterparts hereof, shall become a binding agreement in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 28%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><B>ABEONA THERAPEUTICS INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">By:&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">/s/ Steven H. Rouhandeh</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name: Steven H. Rouhandeh</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.25in">The foregoing Underwriting Agreement is
hereby confirmed and accepted by the Representative in New York, New York as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>JEFFERIES LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Acting individually and as Representative</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">of the several Underwriters
named in</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the attached <U>Schedule A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify; width: 2%">By:&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid; width: 28%">/s/ Real Leclerc</TD>
    <TD STYLE="width: 70%">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name: Real Leclerc</TD>
    <TD>&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Schedule A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 77%; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Underwriters</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="width: 20%; font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>Number of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>Firm Shares</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"><B>to be Purchased</B></P></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Jefferies LLC</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,500,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">RBC Capital Markets, LLC</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">875,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Cantor Fitzgerald &amp; Co.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">875,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">FBR Capital Markets &amp; Co.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">187,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">H.C. Wainwright &amp; Co., LLC</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">187,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">JonesTrading Institutional Services LLC</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">187,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">Maxim Group LLC</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">187,000</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 0.125in">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5,000,000</P></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Schedule B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>Free Writing Prospectuses Included
in the Time of Sale Prospectus</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>Form of Opinion of Company Counsel</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Omitted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>EXHIBIT B</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>Form of Opinion of Foley &amp; Lardner
LLP</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Omitted]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>Form of Lock-up Agreement</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Date]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jefferies LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As Representative of the Several Underwriters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Jefferies LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">520 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">RE:</TD><TD STYLE="text-align: justify">Abeona Therapeutics Inc. (the &ldquo;<B>Company</B>&rdquo;)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies &amp; Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned is an owner of shares of common stock, par value
$0.01 per share, of the Company (&ldquo;<B>Shares</B>&rdquo;) or of securities convertible into or exchangeable or exercisable
for Shares. The Company proposes to conduct a public offering of Shares (the &ldquo;<B>Offering</B>&rdquo;) for which Jefferies
LLC (&ldquo;<B>Jefferies</B>&rdquo;) will act as the representative of the underwriters. The undersigned recognizes that the Offering
will benefit each of the Company and the undersigned. The undersigned acknowledges that the underwriters are relying on the representations
and agreements of the undersigned contained in this letter agreement in conducting the Offering and, at a subsequent date, in entering
into an underwriting agreement (the &ldquo;<B>Underwriting Agreement</B>&rdquo;) and other underwriting arrangements with the Company
with respect to the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Annex A sets forth definitions for capitalized terms used in
this letter agreement that are not defined in the body of this agreement. Those definitions are a part of this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees that, during the Lock-up
Period, the undersigned will not (and will cause any Family Member not to), without the prior written consent of Jefferies, which
may withhold its consent in its sole discretion:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Sell or Offer to Sell any Shares or Related Securities currently or hereafter owned either of record or beneficially (as defined
in Rule 13d-3 under the Exchange Act) by the undersigned or such Family Member,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>enter into any Swap,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>make any demand for, or exercise any right with respect to, the registration under the Securities Act of the offer and sale
of any Shares or Related Securities, or cause to be filed a registration statement, prospectus or prospectus supplement (or an
amendment or supplement thereto) with respect to any such registration, or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>publicly announce any intention to do any of the foregoing.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing will not apply to the registration of the offer
and sale of the Shares, and the sale of the Shares to the underwriters, in each case as contemplated by the Underwriting Agreement.
In addition, the foregoing restrictions shall not apply to the transfer of Shares or Related Securities by gift, or by will or
intestate succession to a Family Member or to a trust whose beneficiaries consist exclusively of one or more of the undersigned
and/or a Family Member; <I>provided, however</I>, that in any such case, it shall be a condition to such transfer that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>each transferee executes and delivers to Jefferies an agreement in form and substance satisfactory to Jefferies stating that
such transferee is receiving and holding such Shares and/or Related Securities subject to the provisions of this letter agreement
and agrees not to Sell or Offer to Sell such Shares and/or Related Securities, engage in any Swap or engage in any other activities
restricted under this letter agreement except in accordance with this letter agreement (as if such transferee had been an original
signatory hereto), and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>prior to the expiration of the Lock-up Period, no public disclosure or filing under the Exchange Act by any party to the transfer
(donor, donee, transferor or transferee) shall be required, or made voluntarily, reporting a reduction in beneficial ownership
of Shares in connection with such transfer.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned also agrees and consents to the entry of stop
transfer instructions with the Company&rsquo;s transfer agent and registrar against the transfer of Shares or Related Securities
held by the undersigned and the undersigned's Family Members, if any, except in compliance with the foregoing restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to the Offering only, the undersigned waives any
registration rights relating to registration under the Securities Act of the offer and sale of any Shares and/or any Related Securities
owned either of record or beneficially by the undersigned, including any rights to receive notice of the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned confirms that the undersigned has not, and has
no knowledge that any Family Member has, directly or indirectly, taken any action designed to or that might reasonably be expected
to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale of the
Shares. The undersigned will not, and will cause any Family Member not to take, directly or indirectly, any such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Whether or not the Offering occurs as currently contemplated
or at all depends on market conditions and other factors. The Offering will only be made pursuant to the Underwriting Agreement,
the terms of which are subject to negotiation between the Company and the underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned hereby represents and warrants that the undersigned
has full power, capacity and authority to enter into this letter agreement. This letter agreement is irrevocable and will be binding
on the undersigned and the successors, heirs, personal representatives and assigns of the undersigned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This letter agreement shall be governed by, and construed in
accordance with, the laws of the State of New York. This Agreement shall lapse and become null and void if the Offering shall
not have occurred on or before the earliest of (i) such time as Jefferies advises the Company in writing, prior to the execution
of the Underwriting Agreement, that it has determined not to proceed with the Offering, (ii) such time as the Company advises
Jefferies in writing, prior to the execution of the Underwriting Agreement, that it has determined not to proceed with the Offering,
(iii) a public announcement is made by the Company or Jefferies, prior to the execution of the Underwriting Agreement, stating
that it has or they have, as applicable, determined not to proceed with the Offering; (iv) termination of the Underwriting Agreement;
or (v) December 31, 2017, in the event the Underwriting Agreement has not been executed by that date (provided, however, that
the Company may extend such date by up to three months with written notice to the undersigned prior thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 70%">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Signature</TD>
    <TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
    <TD STYLE="width: 70%">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">Printed Name of Person Signing</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><I>(Indicate capacity of person signing if signing as custodian or trustee, or on behalf of an
entity)</I></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Certain Defined Terms<BR>
<U>Used in Lock-up Agreement</U><BR>
<BR>
</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For purposes of the letter agreement to which this Annex A is
attached and of which it is made a part:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Call Equivalent Position</B>&rdquo; shall have the meaning set forth in Rule 16a-1(b) under the Exchange Act.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Exchange Act</B>&rdquo; shall mean the Securities Exchange Act of 1934, as amended.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Family Member</B>&rdquo; shall mean the spouse of the undersigned, an immediate family member of the undersigned
or an immediate family member of the undersigned's spouse, in each case living in the undersigned's household or whose principal
residence is the undersigned's household (regardless of whether such spouse or family member may at the time be living elsewhere
due to educational activities, health care treatment, military service, temporary internship or employment or otherwise). &ldquo;<B>Immediate
family member</B>&rdquo; as used above shall have the meaning set forth in Rule 16a-1(e) under the Exchange Act.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Lock-up Period</B>&rdquo; shall mean the period beginning on the date hereof and continuing through the close of
trading on the date that is 90 days after the date of the Prospectus (as defined in the Underwriting Agreement).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Put Equivalent Position</B>&rdquo; shall have the meaning set forth in Rule 16a-1(h) under the Exchange Act.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Related Securities</B>&rdquo; shall mean any options or warrants or other rights to acquire Shares or any securities
exchangeable or exercisable for or convertible into Shares, or to acquire other securities or rights ultimately exchangeable or
exercisable for or convertible into Shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Securities Act</B>&rdquo; shall mean the Securities Act of 1933, as amended.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Sell or Offer to Sell</B>&rdquo; shall mean to:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: center">&ndash;</TD><TD>sell, offer to sell, contract to sell or lend,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: center">&ndash;</TD><TD>effect any short sale or establish or increase a Put Equivalent Position or liquidate or decrease any Call Equivalent Position</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: center">&ndash;</TD><TD>pledge, hypothecate or grant any security interest in, or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: center">&ndash;</TD><TD>in any other way transfer or dispose of,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">in each case whether effected
directly or indirectly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: center"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>&ldquo;<B>Swap</B>&rdquo; shall mean any swap, hedge or similar arrangement or agreement that transfers, in whole or in part,
the economic risk of ownership of Shares or Related Securities, regardless of whether any such transaction is to be settled in
securities, in cash or otherwise.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Capitalized terms not defined in this Annex A shall have the
meanings given to them in the body of this lock-up agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Directors, Officers and Others</B><BR>
<B>Signing Lock-up Agreement</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Directors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Steven H. Rouhandeh</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Todd Wider</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stephen B. Howell</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mark J. Alvino</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Officers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Timothy J. Miller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jeffrey B. Davis</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stephen B. Thompson</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Others:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SCO Capital Partners LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SCO Financial Group, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Beach Capital LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-5.1
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<FILENAME>tv476994_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Morgan, Lewis &amp; Bockius <FONT STYLE="font-variant: small-caps">llp</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">One Federal Street<BR>
Boston, Massachusetts 02110-1726</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel. +1.617.341.7700</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fax: +1.617.341.7701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">www.morganlewis.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 17, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Abeona Therapeutics Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3333 Lee Parkway, Suite 600</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dallas, Texas 75219</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion is furnished to you in connection
with the filing of a prospectus supplement, dated October 17, 2017 (the &ldquo;<U>Prospectus Supplement</U>&rdquo;), to a Registration
Statement on Form S-3, Registration No. 333-205128 (the &ldquo;<U>Registration Statement</U>&rdquo;) filed by Abeona Therapeutics
Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), with the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;)
under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), with respect to the public sale of up to
5,750,000 shares of the <FONT STYLE="background-color: white">Company&rsquo;s common stock, which includes an option to purchase
750,000 shares of the Company&rsquo;s common stock (the &ldquo;<U>Shares</U>&rdquo;)</FONT>, pursuant to the Underwriting Agreement
(the &ldquo;<U>Underwriting Agreement</U>&rdquo;), dated October 17, 2017 by and among the Company and Jefferies LLC, as representative
of the several Underwriters named therein. The Shares are to be sold pursuant to the Prospectus Supplement and the base prospectus
included in the Registration Statement, dated June 19, 2015 (together with the Prospectus Supplement, the &ldquo;<U>Prospectus</U>&rdquo;).
The Underwriting Agreement is being filed as an exhibit to a Current Report on Form 8-K and will be incorporated by reference into
the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As to all matters of fact (including factual
conclusions and characterizations and descriptions of purpose, intention or other state of mind), we have relied, with your permission,
entirely upon written actions by the board of directors of the Company and certificates of certain officers of the Company and
have assumed, without independent inquiry, the accuracy of those certificates and written actions by the board of directors of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As counsel to the Company, in rendering
the opinions hereinafter expressed, we have examined and relied upon originals or copies of such corporate records, agreements,
documents and instruments as we have deemed necessary or advisable for purposes of this opinion, including (i) the certificate
of incorporation and bylaws of the Company, (ii) the Registration Statement and the exhibits thereto filed with the Commission,
(iii) the Prospectus, (iv) the Underwriting Agreement, and (v) the written actions of the board of directors referenced above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion is limited solely to the
Delaware General Corporation Law without regard to choice of law, to the extent that the same may apply to or govern the transactions
contemplated by the Registration Statement. We express no opinion as to the effect of events occurring, circumstances arising,
or changes of law becoming effective or occurring, after the date hereof on the matters addressed in this opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on such examination and subject to
the foregoing, we are of the opinion that the Shares, when issued by the Company and delivered by the Company against payment therefor
as contemplated by the Underwriting Agreement, will be duly and validly issued, fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hereby consent to the filing of this
opinion with the Commission as an exhibit to the Company&rsquo;s Current Report on Form 8-K filed with the Commission on October
17, 2017 (and its incorporation by reference into the Registration Statement) in accordance with the requirements of Item&nbsp;601(b)(5)
of Regulation&nbsp;S-K promulgated under the Securities Act and to the reference to this firm therein and under the heading &ldquo;Legal
Matters&rdquo; in the Prospectus included in the Registration Statement. In giving this consent, we do not admit that we are in
the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations of the Commission thereunder.
In rendering this opinion, we are opining only as to the specific legal issues expressly set forth herein, and no opinion shall
be inferred as to any other matter or matters. This opinion is intended solely for use in connection with the issuance and sale
of the Securities subject to the Registration Statement and is not to be relied upon for any other purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Morgan, Lewis &amp; Bockius LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MORGAN, LEWIS &amp; BOCKIUS LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<FILENAME>tv476994_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 105px; width: 133px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Abeona Therapeutics Announces<BR>
Pricing of Public Offering of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NEW YORK<FONT STYLE="background-color: white">&nbsp;and&nbsp;CLEVELAND,&nbsp;</FONT>October
16, 2017<FONT STYLE="background-color: white">&nbsp;</FONT></B>--&nbsp; Abeona Therapeutics Inc. <FONT STYLE="background-color: white">(Nasdaq:ABEO),
</FONT>a leading clinical-stage biopharmaceutical company focused on developing novel gene and cell therapies for life-threatening
rare diseases, <FONT STYLE="background-color: white">today announced the pricing of an underwritten public offering of five million
shares of common stock at a public offering price of $16.00 per share. The gross offering size for this offering is expected to
be approximately $80 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable
by the Company. The Company has granted to the underwriters participating in the offering a 30-day option to purchase up to an
additional 750,000 shares of common stock. The offering is expected to close on or about October 19, 2017, subject to customary
closing conditions. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Abeona intends to use the net proceeds
of the offering for working capital and corporate purposes, including, without limitation, development of our product candidates,
manufacturing and general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Jefferies LLC&nbsp;is acting as lead book-running
manager for the offering and RBC Capital Markets as joint book runner. <FONT STYLE="background-color: white">Cantor Fitzgerald
&amp; Co. is acting as lead manager. FBR Capital Markets &amp; Co., H.C. Wainwright &amp; Co., JonesTrading
Institutional Services LLC and Maxim Group LLC are acting as co-managers for the offering. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The securities described above are being
offered pursuant to a shelf registration statement on Form S-3 (File No. 333-205128) that was filed with the&nbsp;Securities and
Exchange Commission&nbsp;(the &quot;SEC&quot;) on&nbsp;June 22, 2015&nbsp;and that was declared effective by the&nbsp;SEC&nbsp;on&nbsp;July
23, 2015. The offering will be made only by means of the written prospectus and prospectus supplement that form a part of the registration
statement. The preliminary prospectus supplement and the accompanying prospectus supplement that form a part of the registration
statement has been filed with the&nbsp;SEC&nbsp;and is available on the&nbsp;SEC's&nbsp;website at&nbsp;www.sec.gov. Copies of
the preliminary prospectus supplement and the accompanying prospectus may also be obtained by request at&nbsp;Jefferies,&nbsp;Attention
Equity Syndicate Prospectus Department,&nbsp;520 Madison Avenue, 2nd Floor,&nbsp;New York, NY&nbsp;10022, via telephone at (877)
821-7388, or email at:&nbsp;Prospectus_Department@Jefferies.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><I>The securities
described above have not been qualified under any state blue sky laws. This press release does not constitute an offer to sell
or the solicitation of offers to buy any securities of Abeona being offered, and shall not constitute an offer, solicitation or
sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">About Abeona: Abeona Therapeutics Inc.
is a clinical-stage biopharmaceutical company developing gene therapies for life-threatening rare genetic diseases. Abeona's lead
programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA)
and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB). Abeona is also developing ABO-101
(AAV-NAGLU) for Sanfilippo syndrome type B (MPS IIIB), ABO-201 (AAV-CLN3) gene therapy for juvenile Batten disease (JNCL), ABO-202
(AAV-CLN1) for treatment of infantile Batten disease (INCL), EB-201 for epidermolysis bullosa (EB), ABO-301 (AAV-FANCC) for Fanconi
anemia (FA) disorder and ABO-302 using a novel CRISPR/Cas9-based gene editing approach to gene therapy for rare blood diseases.
In addition, Abeona has a proprietary vector platform, AIM&trade;, for next generation product candidates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Contact:</B><BR>
Christine Silverstein<BR>
Vice President, Investor Relations<BR>
Abeona Therapeutics Inc.<BR>
+1 (212)786-6212<BR>
<U>csilverstein@abeonatherapeutics.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Media Contact:</B><BR>
Lynn Granito<BR>
Berry &amp; Company Public Relations&nbsp;&nbsp;<BR>
+1 (212) 253-8881&nbsp;&nbsp;<BR>
<U>lgranito@berrypr.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><I>This press
release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as
amended, and that involve risks and uncertainties. These statements include, without limitation, statements regarding our anticipated
offering, anticipated use of proceeds and plans and prospects for Abeona, and other statements including the words &ldquo;may,&rdquo;
will,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; expect,&rdquo; &ldquo;intend,&rdquo; and
similar expressions (as well as other words or expressions referencing future events, conditions or circumstances), which constitute
and are intended to identify forward-looking statements. Actual results may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the uncertainties related to market conditions and the completion
of the public offering on the anticipated terms, or at all, continued interest in our rare disease portfolio, the ability to develop
our product candidates and technologies, the impact of changes in the financial markets and global economic conditions, and other
risks as are set forth in the Company's Annual Report on Form 10-K and other reports filed by the Company with the Securities and
Exchange Commission. The Company undertakes no obligations to make any revisions to the forward-looking statements contained in
this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result
of new information, future developments or otherwise.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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