On September 2, 2022, Beam Therapeutics Inc. entered into a license and research collaboration agreement (the “Agreement”) with Orbital Therapeutics Inc. (“Orbital”), pursuant to which each of the Company and Orbital granted the other licenses to certain technology controlled by it necessary or reasonably useful for the non-viral delivery or the design or manufacture of ribonucleic acid for the prevention, treatment or diagnosis of human disease. The Company's license to Orbital is for all fields other than the Company's exclusive field and also excludes the targets and substantially all of the indications that are the subject of existing Company programs. The Company's exclusive field consists of all products and biologics that function in the process of gene editing or conditioning for use in cell transplantation, or that act in combination with any such products or biologics. Orbital's license to the Company is for all fields other than Orbital's exclusive field.

Orbital's exclusive field consists of products and biologics that function as vaccines and also of therapeutic proteins, other than therapeutic proteins (i) that use gene editing, (ii) for use in conditioning, (iii) for use in regenerative medicine, (iv) for use as a chimeric antigen receptor ("CAR") immune therapy, including CAR-T, CAR-NK and CAR-macrophage compositions, (v) for use as a t-cell receptor therapy or (vi) that modulate certain immune responses. The licenses are exclusive in each party's exclusive field for three years and non-exclusive in those fields thereafter. Pursuant to the terms of the Agreement, a joint steering committee will be established to oversee the research and development activities of the Company and Orbital.

The parties agreed that for a period of three years after entry into the Agreement, subject to limited exceptions, they would not research, develop and commercialize, or grant licenses to research, develop and commercialize, products or biologics within the other party's exclusive field.