X0306 4 2017-06-01 0 0001425205 Lion Biotechnologies, Inc. LBIO 0001413350 Venkatesan Jay 999 SKYWAY ROAD, SUITE 150 SAN CARLOS CA 94070 1 0 0 0 Stock Option (right to buy) 5.45 2017-06-01 4 A 0 35000 0 A 2027-05-31 Common Stock 35000 35000 D These options are exercisable in four equal quarterly installments of 8,750 each following the date of grant. If the Reporting Person's service to the Issuer terminates before the expiration date, the option shares will be exercisable for two years following termination of service unless the Reporting Person is terminated for cause, in which case the options are terminated. /s/ Jay Venkatesan 2017-06-02