Modulator Targets Sample Clauses

Modulator Targets. In general, for each Modulator Target that is the subject of a Collaboration Program, the Discovery Research Activities under the Discovery Research Plan will be divided into the following stages (each, a “Discovery Phase”): (a) BicycleTx will perform an initial evaluation and feasibility screen to generate Bicycles suitable for binding the specified Modulator Target, which screen will be focused on generating a series of alternative Bicycle Constructs that are directed to and capable of binding the applicable Modulator Target, and are considered suitable for further evaluation as potential Discovery Constructs (each such Bicycle Construct, a “Hit” and such discovery phase, the “Evaluation Phase”). BicycleTx will notify Genentech in writing (which may be through the JRC) promptly following completion of the Evaluation Phase for each Modulator Target, which shall include details of the Hits identified in such Evaluation Phase (the “Evaluation Completion Notice”) in order for Genentech to determine whether or not it wishes to exercise its substitution right under Section 3.2. (b) If the Evaluation Phase results in one (1) or more Hits, BicycleTx will perform a full validation screen of the identified Hits, initially evaluating such Hits against the Hit Success Criteria (such phase, the “Hit Validation Phase”). The Hit Success Criteria for the Initial Collaboration Targets are set forth in Schedule 1.120. The Hit Success Criteria for additional Modulator Targets shall be substantially similar in form and content to the criteria set forth in Schedule 1.120, [***]. Bicycle Constructs that achieve the Hit Success Criteria will be deemed to have met the proof-of-principle threshold (the achievement of proof-of-principle by one or more Bicycle Constructs, the “POP Achievement” for the applicable Modulator Target). Bicycle Constructs that reach POP Achievement will be progressed by BicycleTx through the remainder of the validation screens and completion of the Hit Validation Phase. Bicycle Constructs that successfully complete the Hit Validation Phase will be deemed “Discovery Constructs”. (c) Following completion of the Hit Validation Phase, BicycleTx will perform characterization, prioritization and optimization of each such Discovery Construct in accordance with the Discovery Research Plan (the “Lead Generation Phase”) to identify one or more lead Discovery Constructs [***]. Following completion of the Lead Generation Phase for Discovery Constructs directed to a...