= Certain information contained in this document, marked by brackets, has been omitted from this exhibit because it is both not material and would be competitively harmful if publicly disclosed AMENDMENT No. 9 To the MULTI- PRODUCT LICENCE AGREEMENT dated

CONFIDENTIAL                     

Exhibit 10.23

[*] = Certain information contained in this document, marked by brackets, has been omitted from this exhibit because it is both not material and would be competitively harmful if publicly disclosed

AMENDMENT No. 9

To the

MULTI-PRODUCT LICENCE AGREEMENT

dated

31 October 2014

between

LONZA SALES AG

    

and

NGM BIOPHARMACEUTICALS, INC.

---

CONFIDENTIAL                            

    This Amendment No. 9 (“Amendment No. 9”) to the Multi-Product License Agreement, dated 31 October 2014, and as amended by Amendment No. 1, dated 28 July 2015 , Amendment No. 2, dated 07 October 2015, Amendment No. 3, dated 26 April 2016, Amendment No. 4, dated 03 October 2017, Amendment No. 5, dated 16 March 2018, Amendment No. 6, dated 06 February 2019, Amendment 7, dated 22 December 2020 and Amendment 8, dated 10 February 2021 (collectively the “Agreement”) is made effective as of the last dates of signatures between the parties (the “Amendment No. 9 Effective Date”); and is

By and Between

LONZA SALES AG incorporated and registered in Switzerland whose registered office is at ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇-▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ("Lonza"), and

NGM BIOPHARMACEUTICALS, INC., incorporated and registered in the State of Delaware whose registered office is at ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇., ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, ▇▇▇, ("Licensee").

Lonza and Licensee may be independently defined as a “Party” or collectively as the “Parties”.

WHEREAS

▇.▇▇▇▇▇ and the Licensee entered into the Agreement, pursuant to which Lonza licensed certain Intellectual Property Rights (as therein defined) to the Licensee (“Agreement”).

B.Licensee notified Lonza of the [*] and the Parties therefore agree to update the Products table in Appendix 5 Table A.

C.The Parties wish to amend the terms of the Agreement.

NOW THEREFORE in consideration of the mutual promises and covenants contained herein and other good and valuable consideration the sufficiency of which is acknowledged it is hereby agreed by and between the Parties to amend the Agreement as follows:

1.Unless otherwise defined in this Amendment No. 9, the words and phrases defined in the Agreement shall have the same meanings in this Amendment No. 9.

[*] = Certain information contained in this document, marked by brackets, has been omitted from this exhibit because it is both not material and would be competitively harmful if publicly disclosed.        2

---

CONFIDENTIAL                            

2.Appendix 5 of the Agreement shall be deleted in its entirety and replaced by the Appendix 5 attached hereto in this Amendment No. 9.

3.Save as expressly provided herein through this Amendment No. 9, all terms and conditions of the Agreement shall continue in full force and effect.

AS WITNESS, the hands of the duly authorized representatives of the parties hereto the Amendment No. 9 Effective Date.

SIGNED BY:						/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
For and on behalf of
LONZA SALES AG
						Associate General Counsel
						Title
						Nov 3, 2021
						Date

SIGNED BY:						/s/ ▇▇▇ ▇▇▇▇▇
For and on behalf of
LONZA SALES AG
						Senior Director, Licensing
						Title
						Nov 3, 2021
						Date

SIGNED BY:						/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
For and on behalf of
NGM BIOPHARMACEUTICALS, INC.
						SVP & General Counsel
						Title
						10/14/2021
						Date

[*] = Certain information contained in this document, marked by brackets, has been omitted from this exhibit because it is both not material and would be competitively harmful if publicly disclosed.        3

---

CONFIDENTIAL                            

APPENDIX 5

PRODUCTS

Table A

Product			Product Name			[*]			[*]
[*]			[*]			[*]			[*]

*The Licensee shall notify Lonza in writing within a period of [*] days for [*] for each Product per the terms of the Agreement.

[*]

Table B

COMMERCIAL PRODUCTS AND ROYALTIES

Commercial Product			Product Name			Rate of Royalty			Party manufacturing the Product
Product #1
Product #2
Product #3
Product #4
Product #5
Product #6
Product #7

[*] = Certain information contained in this document, marked by brackets, has been omitted from this exhibit because it is both not material and would be competitively harmful if publicly disclosed.        4