Contract analysis

Section 1: Overview of the Cost-Sharing Arrangement To assist the examination team in its review of the produced documents, PPC provides the following overview of the cost-sharing arrangement at issue. This overview is intended as a summary description only and is qualified in its entirety by the terms of the CSA Agreement and amendments produced herewith. 1.1 Parties to the CSA The Qualified Cost-Sharing Arrangement

Section 2: Documents Produced 2.1 Listing of Produced Documents In response to IDR No. 2, PPC is producing the following documents, each of which has been Bates-stamped with the prefix "PPC-IDR02" for ease of identification and tracking: Document 1: Qualified Cost-Sharing Arrangement Agreement, dated as of July 1, 2012 The CSA Agreement, dated as of July 1, 2012, between Penterra Pharmaceuticals Corp. and Penterra Bi

Section 3: Explanatory Notes Regarding the CSA Structure 3.1 Regulatory Framework The CSA was designed to comply in all material respects with the requirements of Treas. Reg. § 1.482-7 (governing qualified cost-sharing arrangements) and Treas. Reg. § 1.482-7(g) (governing platform contribution transactions). In structuring the CSA, PPC and PBI were advised by independent legal counsel and independent economic consult

Section 4: Reservation of Rights In submitting this response and producing the accompanying documents, PPC expressly reserves all rights, including, but not limited to, the following: (a) The right to supplement, amend, correct, or clarify this response at any time, whether in connection with this IDR or in response to subsequent IDRs or other requests from the examination team; (b) All protections afforded by the at

Section 5: Contact Information PPC invites the examination team to contact the undersigned with any questions regarding this response, the documents produced herewith, or any other matter relating to the examination. PPC is committed to a cooperative and efficient examination process and will endeavor to respond promptly to all inquiries. All future correspondence regarding this examination should be directed to Cald