Clinical and Regulatory Milestones. Subject to Section 4.7(d), in the event PPD exercises the PPD Option, PPD shall make each milestone payment set forth below to Xxxxxxx within forty-five (45) days of receipt of an invoice from Xxxxxxx after the occurrence of the related milestone event with regard to the first Licensed Product to achieve such milestone. Each such milestone payment shall only be payable once under this Agreement, with respect to the first occurrence of the related milestone event for the Licensed Products to achieve such milestone. PPD shall give Xxxxxxx written notice of the occurrence of a milestone event within ten (10) business days of the occurrence of such milestone event. [*] [*] dollars ($[*]) [*] [*] dollars ($[*]) [*] [*] dollars ($[*]) [*] [*] dollars ($[*]) [*] [*] dollars ($[*]) Regardless of the number of Licensed Products or indications, each Milestone will be paid only once and the total amount payable under this Section 5.2(e)(i) shall not exceed fifty million dollars ($50,000,000) in any event.
Clinical and Regulatory Milestones. In the event Xxxxxxx exercises the Xxxxxxx Option, Xxxxxxx shall make each milestone payment set forth below to PPD within forty-five (45) days of receipt of an invoice from PPD after the occurrence of the related milestone event. Each such milestone payment shall be payable once under this Agreement, with respect to the first occurrence of the related milestone event for the Licensed Product to achieve such milestone. Xxxxxxx shall give PPD written notice of the occurrence of a milestone event described below within ten (10) business days thereof.
Clinical and Regulatory Milestones. In the event Xxxxxxx exercises the Xxxxxxx Option, Xxxxxxx shall make each milestone payment set forth below to PPD within forty-five (45) days of receipt of an invoice from PPD after the occurrence of the related milestone event. Each such milestone payment shall be payable once under this Agreement, with respect to the first occurrence of the related milestone event for the Licensed Product to achieve such milestone. Xxxxxxx shall give PPD written notice of the occurrence of a milestone event described below within ten (10) business days thereof. [*] [*] dollars ($[*]) [*]* [*] dollars ($[*]) [*]** [*] dollars ($[*]) * If [*], then Xxxxxxx shall, notwithstanding anything to the contrary, pay PPD a milestone payment of [*] dollars ($[*]) within forty-five (45) days of receipt of an invoice from PPD after [*], and Xxxxxxx will then pay PPD a milestone payment of [*] dollars ($[*]) within forty-five (45) days of receipt of an invoice from PPD after [*]. ** If [*], then Xxxxxxx shall, notwithstanding anything to the contrary, pay PPD a milestone payment of [*] dollars ($[*]) within forty-five (45) days of receipt of an invoice from PPD after such [*], and Xxxxxxx will then pay PPD a milestone payment of [*] dollars ($[*]) within forty-five (45) days of receipt of an invoice from PPD after [*]. Regardless of the number of Licensed Products or indications, each Milestone will be paid only once and the total amount payable under this Section 5.2(f)(i) shall not exceed eighty-five million dollars ($90,000,000) in any event.
Clinical and Regulatory Milestones. As partial consideration for the rights granted by Precision to TGTX hereunder with respect to the Licensed Product, TGTX shall pay to Precision or its designee the following milestone payments in the corresponding amount set forth in the right-hand column of the table immediately below upon the first achievement of each of the following milestone events in the left-hand column of the table immediately below by TGTX, its Affiliates or Sublicensees. The Milestone Events set forth below are intended to be sequential; achievement of a particular Milestone Event shall result in deemed achievement of all earlier Milestone Events; for example, achievement of Milestone Event 4 or Milestone Event 7 shall result in deemed achievement of Milestone Events 1 – 3. 1 [***] $5,250,000 2 [***] [***] 3 [***] [***] 4 [***] [***] 5 [***] [***] 6 [***] [***] 7 [***] [***] 8 [***] [***] 9 [***] [***]
8.3.1 For the avoidance of doubt, each of Milestone Events 1 – 9 is achievable only once.
8.3.2 TGTX shall notify Precision in writing no later than [***] after the achievement of each Milestone Event set forth in the table above and shall make the corresponding milestone payment within [***] after receipt by TGTX of an invoice from Precision delivered after such achievement; provided, however, that, subject to Section 8.14, TGTX may elect, in its discretion, to pay any such milestone payment (other than the payments with respect to Milestone Events 1 and 2) in (a) cash or (b) a combination of at least fifty percent (50%) cash and at most fifty percent (50%) TGTX Parent Consideration Shares that equal, in aggregate, the amount of such milestone payment.
Clinical and Regulatory Milestones. In consideration for the rights granted to Allogene under this Agreement, Allogene shall make the following non-refundable, non-creditable milestone payments to Notch following the achievement of the following milestones by Allogene or any of its Affiliates or Sublicensees:
Clinical and Regulatory Milestones. In consideration for the rights granted to Allogene under this Agreement, Allogene shall make the following non-refundable, non-creditable milestone payments to Notch following the achievement of the following milestones by Allogene or any of its Affiliates or Sublicensees:
1. [***] [***] [***]
2. [***] [***] [***]
3. [***] [***] [***]
4. [***] [***] [***]
5. [***] [***] [***] Each of the milestone payments set forth in the table above shall be payable only once per Exclusive Target per Cell Type, the first time such milestone for such Exclusive Target and Cell Type is achieved, and irrespective of the number of times such milestone is achieved with respect to an Exclusive Target and Cell Type. If any milestone above is achieved for an Initial Target which is subsequently replaced by a Substitute Target, then such achieved milestone shall not be paid for such Substitute Target; however, Allogene shall pay for any milestones above achieved by Allogene or any of its Affiliates or Sublicensees for such Substitute Target that were . not paid for such Initial Target. The aggregate amount payable by Allogene under this Section 6.6 for all milestones achieved by Allogene, its Affiliates and its Sublicensees with respect to an Exclusive Target (including an Initial Target and its Substitute Target, collectively) shall not exceed [***] Dollars [***] per Cell Type. Allogene shall notify Notch within [***] days following the achievement of any milestone above (or, if achieved by a Sublicensee, within [***] days following its receipt of notice of such achievement) and shall pay the corresponding milestone payment within [***] days following its receipt of Notch’s invoice therefor. Notwithstanding the foregoing, Allogene shall only be required to pay one set of clinical and regulatory milestones relating to any Bi-Specific Product that meets a clinical or regulatory milestone and that is Directed Against two (2) or more Bi-Specific Excluded Targets; provided that Allogene shall thereafter pay any additional clinical and regulatory milestones that are achieved for any further Product that is Directed Against a Bi-Specific Excluded Target, subject to the limitations that each milestone payment be payable only once per Exclusive Target and that the aggregate amount payable by Allogene for all clinical and regulatory milestones achieved by Allogene, its Affiliates and its Sublicensees with respect to an Exclusive Target (including an Initial Target and its Substitute Targe...
Clinical and Regulatory Milestones. 3.2.1. In consideration of the execution and delivery of this Agreement, and subject to the provisions of Section 3.2.2, Pfizer shall pay Company the non-refundable amounts set forth below within [***] of the first occurrence of each event described below for the first Licensed Product Covered by a Valid Claim to achieve such event (each, a “Milestone Event”). CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934.
(i) Successful completion of the Existing Clinical Trial. “Successful completion” means that the drug is generally safe and well-tolerated and that an average [***] of the [***] is achieved after the plasma drug levels reaches steady state at the highest dose tested. In the event that both Parties agree that the Existing Clinical Trial should be terminated prior to completion of the entire study but after the above specified [***] of [***] has been achieved, then [***] of the milestone payment [***] will be paid, and the Parties will then agree in good faith on a definition of successful completion in any additional trial in healthy volunteers in a Licensed Product for the payment of the remaining [***] of the milestone [***]. In the event that Successful completion has been achieved, but only [***] of the [***] has been paid pursuant to the foregoing, then the remainder of this milestone will be payable on that date which is the [***] anniversary of the Effective Date. [***]
Clinical and Regulatory Milestones. Merck shall pay to Company the amounts set forth below (each, a “Clinical and Regulatory Milestone Payment”) for the first Licensed Product to achieve the corresponding milestone (each, a “Clinical and Regulatory Milestone Event”). 1 [**] $ [ **] 2 [**] $ [ **] 3 [**] $ [ **] 4 [**] $ [ **] 5 [**] $ [ **] 6 [**] $ [ **] 7 [**] $ [ **] 8 [**] $ [ **] 9 [**] $ [ **] Clinical and Regulatory Milestone Events (1)-(3) in the above table are intended to be successive. If any of Clinical and Regulatory Milestone Events (1)-(3) is not achieved prior to the achievement of the next successive Clinical and Regulatory Milestone Event or, in the case of Clinical and Regulatory Milestone Event (3), prior to the achievement of any of Clinical and Regulatory Milestone Events (4)-(6) (such unachieved Clinical and Regulatory Milestone Event, the “Skipped Milestone Event,” and such subsequent Clinical and Regulatory Milestone Event, the “Achieved Milestone Event”), then such Skipped Milestone Event shall be deemed to have been achieved upon the achievement of the Achieved Milestone Event. The Clinical and Regulatory Milestone Payment corresponding to a Skipped Milestone Event shall be due at the same time as the Clinical and Regulatory Milestone Payment corresponding to the applicable Achieved Milestone Event.
Clinical and Regulatory Milestones. The following milestone payments shall be due once for each separate Licensed Product. Within [***] calendar days of the achievement of any of the following milestones by LICENSEE, or within [***] calendar days of the occurrence of any of the milestones achieved by LICENSEE’s Affiliate or Sublicensee, LICENSEE shall notify MSK of the achievement of such milestone and pay MSK the applicable milestone payment: [***]
Clinical and Regulatory Milestones
