Development and Regulatory Milestones. (i) In partial consideration of the rights granted by Global BioLife to Prophase hereunder and subject to the terms and conditions set forth in this Agreement, Prophase shall pay to Global BioLife a milestone payment according to Section 4.02(b) after the achievement of each of the following regulatory milestones: A. successful completion of a first Phase 3 Study which may be required by FDA for the first Licensed Product, nine-hundred thousand dollars ($900,000); and B. Regulatory Approval of an NDA for the first Licensed Product, one million dollars ($1,000,000).
Appears in 4 contracts
Samples: License Agreement, License Agreement (Impact Biomedical Inc.), License Agreement (Impact Biomedical Inc.)
