Participation in Development Costs. Afecta may elect to participate in the Development Cost or to decline participation in the Development Costs within 120 days of the licensing of the Afecta Licensed Product to Supernus. To the extent, Afecta agrees to participate in Development Costs prior to completion of the first Phase II study of the Afecta Licensed Product, then Afecta’s share of Net Sales set forth in 5.2.1 shall increase in accordance with the schedule below depending upon the amount Afecta contributes toward the payment of Development Costs (“Pre-Phase II Participation”). In the event that Afecta contributes less than [**]% in the Pre-Phase II Participation or does not participate until after completion of Phase II (“Post Phase II Participation”) Afecta’s share of Net Sales shall be the higher of: (i) [**] or (ii) that described in Article 5.2.1. herein. Percent of Total Development Costs Percent of Licensed Product Net Sales Payable to Afecta Contributed by Afecta Afecta IP Product Afecta Filed Product Afecta Pre IP Product <[**]% [**] % [**] % [**] % [**]% - [**]% [**] % [**] % [**] % [**]% - [**]% [**] % [**] % [**] % [**]% - [**]% [**] % [**] % [**] % >[**]% [**] % [**] % [**] %
Appears in 2 contracts
Samples: Exclusive License Agreement (Supernus Pharmaceuticals Inc), Exclusive License Agreement (Supernus Pharmaceuticals Inc)
Participation in Development Costs. Afecta may elect to participate in the Development Cost or to decline participation in the Development Costs within 120 days of the licensing of the an Afecta Licensed Product to Supernus. To the extent, Afecta agrees to participate in Development Costs prior to completion of the first Phase II study of the Afecta a particular Licensed Product, then Afecta’s share of Net Sales set forth in 5.2.1 5.2.1. shall increase in accordance with the schedule below depending upon the amount Afecta contributes toward the payment of Development Costs (“Pre-Phase II Participation”). In the event that Afecta contributes less than [**]% in the Pre-Phase II Participation or does not participate until after completion of Phase II (“Post Phase II Participation”) Afecta’s share of Net Sales shall be the higher of: (i) [**] or (ii) that described in Article 5.2.1. herein. Percent of Total Development Costs Percent of Licensed Product Net Sales Payable to Afecta Contributed by Afecta Afecta IP Product Afecta Filed Product Afecta Pre IP Product <[**]% [**] % [**] % [**] % [**]% - [**]% -[**]% [**] % [**] % [**] % [**]% - [**]% [**] % [**] % [**] % [**]% - [**]% [**] % [**] % [**] % >[**]% [**] % [**] % [**] %% [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission.
Appears in 2 contracts
Samples: Exclusive Option and License Agreement (Supernus Pharmaceuticals Inc), Exclusive Option and License Agreement (Supernus Pharmaceuticals Inc)