RULES & REGULATIONS

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PREAMBLE

It is within the interest of the Institute for Research and Innovation in Health (i3S) to:

- Support and enable innovative initiatives aimed at economic valuation of scientific knowledge;

- Mobilize highly qualified national researchers for actions linked to innovation and technology-based entrepreneurship;

- Promote and facilitate the creation of new companies with innovative potential from the results of scientific research and technological development;

- Promote the participation of these companies in national and international R&D&I programs;

and

It is within the interest of Hovione Capital SCR SA (HC) to:

- Invest in medical device, diagnostics and patient monitoring projects, - Have access to Early Stage projects, and to - Build on existing synergies with the R&D ecosystem.

As such, i3S and HC have agreed to launch a high visibility Innovation Award, with international scope and on a yearly basis, as a means for establishing high standards and promoting excellence in innovation.

HC has agreed to be the main sponsor of an Innovation Award for Health or Biomedical-related technologies that specifically focus on medical devices, diagnostics and patient compliance monitoring. Other entities willing to contribute to the award with “in kind” services may join as “Partners”.

The Health Consortium of the European Institute of Innovation & Technology (EIT-Health) has agreed to sponsor and contribute to the international scope the initiative.

The members of the Business Development/Innovation Units of the i3S consortium members IBMC, Ipatimup and INEB are responsible for the implementation of said Innovation Award, which is governed by the Regulations set herein.

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Article 1 Objective

A. The competition (HEALTH INNOVATION PRIZE) is public and aimed at the selection and promotion of projects proposing solutions that advance the fields of health and biomedicine through medical devices, diagnostics and patient compliance monitoring tests/technologies.

B. Provide investment to seeking companies (INVESTMENT SEEKERS) with access to investors in the scope of the Heath Innovation Prize event (vide A).

Article 2 Promoting Entity

The Promoting entity is i3S, a consortium operated by the following Non-Profit Collective Associations of Public Utility:

IBMC – Instituto de Biologia Molecular e Celular, tax number 503 808 360, based at Rua do Campo Alegre 823, 4150-180 Porto, Portugal

INEB – Instituto de Engenharia Biomédica, tax number 502 312 220, based at Rua do Campo Alegre 823, 4150-180 Porto, Portugal

IPATIMUP – Instituto de Patologia e Imunologia Molecular, tax number 502 246 308, based at Rua Dr. Roberto Frias s/n, 4200-465 Porto, Portugal

Article 3 Selection Process

A. HEALTH INNOVATION PRIZE

The evaluation process will involve two phases:

• Phase 1: based on the information provided in the application form • Phase 2: based on a pitch and an interview with Jury.

The Jury will consist of nine personalities of recognized expertise and merit in the field of research, medicine, health, entrepreneurship, innovation management and investment, having the following basic structure:

- President of the Jury, to be nominated - Up to three representatives of i3S - Representative of HC - Up to four personalities of outstanding qualification in the fields of the tender

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B. INVESTMENT SEEKERS

The selection process will involve two phases:

• Phase 1: based on the information provided in the application form

• Phase 2: based on a pitch and an interview with Investors.

The meeting will be held by investors with recognized competences in the healthcare sector.

Article 4 Eligibility Criteria & Applicants

1. All applications must be based on R&D results recognized by the scientific community that are aimed to develop and/or commercially explore new product(s), new application(s) of an existing product, new process(es), new service(s), or other that constitute or may constitute a novel medical device, diagnostics or patient compliance monitoring test/technology with application in the fields of health and biomedicine.

2. Applications should refer to technologies of Technology Readiness Level 3 or above, and ideally have demonstrated feasibility at laboratory scale.

3. The proponents are responsible, in all legal terms, for their originality and authorship.

A. HEALTH INNOVATION PRIZE 1. Citizens over the age of 18, individually or in groups, may compete.

2. Companies incorporated less than 3 years and with an average turnover of less than € 1 Million can also compete for new projects that have not yet entered the commercial exploitation phase.

3. The following are excluded from this Competition: a. Persons belonging to the governing bodies of the promoter; b. People belonging to the governing bodies of the partners and sponsors; c. All relatives in direct line of the elements of the Jury and of the members of

the governing bodies of the promoter, partners and sponsors.

B. INVESTMENT SEEKERS 1. Companies with more than 1 year and less than 5 years and invested with less than €

2 Million that have already entered the commercial exploitation phase.

2. The following are excluded from this Competition:

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a) Persons belonging to the governing bodies of the promoter; b) People belonging to the governing bodies of the partners and sponsors; c) All relatives in direct line of the elements of the Jury and of the members of

the governing bodies of the promoter, partners and sponsors.

Article 5 Application deadline

The application period for the first edition of the i3S-Hovione Capital Innovation Award starts on July 18th, 2017 and ends on September 7th, 2017 at midnight.

Article 6 Application procedure

1. The entry in the Competition is free of charge, and the application will be formalized through a description of the project, to be presented in its own form, available on the i3S or related website.

2. The application process will consist of the correctly filled application form, along with the promoters' curriculum and any other documents that can demonstrate the degree of innovation of the project, its potential impact in terms of competitiveness, its originality and value economic.

3. Applications must be subscribed by all tenderers, who will assume full responsibility for their participation. In the case of the applicant being a legal person, the proposal must be signed by its legal representatives.

4. Applications must be submitted until the day and time stated in the announcement of the Contest. In the evaluation stage, the jury may request additional information.

5. Any doubts about the Contest, namely on the eligibility of projects, the submission of applications, their evaluation, or other, may be clarified through contact with the Directors of Business Development/Innovation Units of IBMC, IPATIMUP and INEB.

Article 7 Rating criteria for the HEALTH INNOVATION PRIZE

1. The evaluation of the projects will be done by the Jury and will take into account the following criteria and weights:

A. Degree of Innovation - 30%

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B. Scientific and technological excellence - 30% C. Reasonability of the potential for commercial exploitation - 30% D. Academic and professional curriculum of promoters/team - 10%

2. Upon submission of the application, once the eligibility conditions, the alignment with the areas and objectives of the Competition, and compliance with the deadlines and established terms have been fulfilled, each application will be subject to a rating process by the Jury and in accordance with the criteria set out in the preceding paragraph. The top 10 rating projects will be called for further evaluation based on pitch presentation.

3. The candidates selected to defend the candidacy of which they are authors agree to perform a public Pitch presentation, to take place on September 28th of 2017. The audience is not bound to any confidentiality agreement, so the contents of any disclosure are of their full responsibility. Based on the application, presentation and performance in a subsequent question and answers session, the Jury will select the winner of the Awards, which will be announced in the same day.

4. The decision of the Jury will be based on a record signed by all its members.

5. The decisions of the Jury cannot be appealed.

Article 8 Awards for the HEALTH INNOVATION PRIZE

1. Jury Award: the following prize will be awarded to projects classified with the highest score by the Jury. (Includes tax if due and intended to build the equity of the project):

• €5,000 – minimum monetary prize to be awarded to the winner.

• €10,000 – in kind contribution as consultancy services by HC, up to 100 hours. o Regulatory affairs review on the technology o 1 Market study o Business plan validation with industry experts

• €20,000 – consultancy services by i3S, up to 200 hours, to be executed in the following 12 months.

o Business Plan writing o 1 application to Portugal 2020 programme o 1 support to create the company that will explore the winning technology o 1 coaching training for a pitch to investors

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2. Attendants award: in parallel with Jury evaluation, a large number of personalities, which will be invited to attend the presentation and Q&A session, will be encouraged to each allocate a minimum of a 10€ ticket to the project(s) they consider to be the most deserving. The total amount awarded to each project constitutes the attendants prize (Includes tax if due and intended to build the equity of the project).

3. Partners award: Each of the “Partners” will award it’s “in kind” prize to one or more of the 10 finalist projects, according to Partners own criteria.

4. Honorable Mentions: The Jury may assign Honorable Mentions to one or more Projects that it considers deserving.

5. The winners of the aforementioned prizes shall sign a declaration of discharge of the value received.

6. The Jury reserves the right not to award the prizes provided, if it considers that the applications submitted do not meet the criteria set out in these Regulations.

Article 9 Final dispositions

1. i3S, HC and partners guarantee the confidentiality of the information received during the entire application and evaluation process, with exception of the pitch presentation. The applications do not constitute any licensing or transfer of intellectual property rights on the projects brought to competition.

2. The disclosure in any form, by any of the winners, including but not limited to oral presentations, posters or publications should contain a reference to the i3S + Hovione Capital Health Innovation Prize, Powered by i3S.

3. The organization reserves the right to modify the Rules and Regulations, as well as the composition of the Jury, for reasons of force majeure.