Effective April 21, 2020, Pfenex Inc. entered into a Deed of Assignment and Amendment (the Deed) with China NT Pharma Group Company Limited (NT Pharma), NT Pharma International Company Limited (NT International), and Beijing Kangchen Biological Technology Co. Ltd. (Kangchen). Pursuant to the Deed, the Company agreed to allow NT Pharma to assign its rights and obligations under the Development and License Agreement (the License Agreement) with the Company to Kangchen. Accordingly, all of NT Pharma's rights under the License Agreement will be assigned to Kangchen, and Kangchen will assume all of NT Pharma's obligations under the Agreement. In a related transaction, NT Pharma, through NT International, will obtain an equity interest in Kangchen and each of NT Pharma and Konruns, as the ultimate parents of Kangchen, will jointly and severally guarantee for the benefit of Pfenex the obligations of Kangchen under the License Agreement.