Upfront and Milestone Payments. In consideration of the rights granted by Titan hereunder:
Upfront and Milestone Payments. 7.1 Within *** following the receipt of the relevant invoice issued by Palatin on the Effective Date of this Agreement, Xxxxxx Xxxxxxx shall pay to Palatin 6,730,771 EUR (six million seven hundred and thirty thousand seven hundred and seventy-one euros) (the “Upfront Payment”).
7.2 During the term of this Agreement, Xxxxxx Xxxxxxx shall pay to Palatin the following milestone payments: Upon Initiation of first Phase III Study or Pivotal Study by Palatin pursuant to Section 4.1.2(a) 2,500,000 EUR (two million five hundred thousand euros) Upon *** *** Upon *** An amount equal to *** Upon *** For each ***, an amount *** equal to *** Upon the end of the first such year of Commercialization of the Product during which the aggregate Net Sales (from inception of Commercialization) exceed ***. This is a one-time, sales-related milestone based on cumulative Net Sales. An amount equal to *** Upon the end of the first such year of Commercialization of the Product during which the aggregate Net Sales (from inception of Commercialization) exceed ***. This is a one-time, sales-related milestone based on cumulative Net Sales. An amount equal to *** Upon the end of the first such year of Commercialization of the Product during which the Net Sales exceed *** for the first time in a single year. This is a one-time, sales-related milestone payment based on annual Net Sales. *** Upon the end of the first such year of Commercialization of the Product during which the Net Sales exceed *** for the first time in a single year. This is a one-time, sales-related milestone payment based on annual Net Sales. *** Upon the end of the first such year of Commercialization of the Product during which the Net Sales exceed *** for the first time in a single year. This is a one-time, sales-related milestone payment based on annual Net Sales. *** Upon the end of the first such year of Commercialization of the Product during which the Net Sales exceed *** for the first time in a single year. This is a one-time, sales-related milestone payment based on annual Net Sales. *** Total ***
Upfront and Milestone Payments. Syros shall pay to TMRC the following one-time and non-refundable upfront payments (#1 and #2) and one-time (per indication) and non-refundable milestone payments (#3-#9 or #5-#9, as applicable) for each cancer indications within, in the case of upfront payments, [**] days following the Effective Date, and, in the case of milestone payments, [**] days following the first achievement of the corresponding milestones:
1. Upfront payment US$500,000 2. Execution of Supply Agreement and Toko Letter Agreement US$[**] and such additional amounts as are applicable in accordance with Exhibit C The following milestone payments apply to the first indication and any subsequent indication, except for [**].
3. Dosing of a first subject in a Phase I Clinical Trial of a Product for an indication in the Field US$500,000
4. Dosing of a first subject in a Phase II Clinical Trial of a Product for an indication in the Field US$500,000 [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] The following milestone payments apply solely to a second indication where the [**] and, in the event that such milestones apply, are in lieu of the milestones set forth in the table above with respect to the second indication: [**] [**] [**] [**] [**] [**] [**] [**] [**] [**]
Upfront and Milestone Payments. (a) an upfront payment of forty thousand Euro (€40,000) [***] of the Effective Date;
(b) development milestone payment(s) of:
(i) one hundred thousand Euro (€100,000) on the successful completion of the first Phase IIa Proof of Concept Study; and
(ii) one hundred thousand Euro (€100,000) on successful completion of the first Phase IIb Study; and
(c) commercial milestone payment(s) of:
(i) two hundred thousand Euro (€200,000) when the First Commercial Sale of a Product has been achieved; and
(ii) two hundred thousand Euro (€200,000) in the case of the First Commercial Sale of each and every subsequent Product (that is each and every subsequent Product requiring a separate marketing authorisation such as pursuant to a New Drug Application). All upfront and milestone payments as set out and specified in this Clause 6.1.1 are non-creditable and non-refundable.
(d) The milestone payments in Clause 6.1.1(b) shall only be payable if the applicable Product is covered by a Valid Claim in France, Germany, Italy, Spain, the United Kingdom, or the United States.
(e) The milestone payments in Clause 6.1.1(c) shall only be payable if (i) the sale of the applicable Product is covered by a Valid Claim, or (ii) there is Orphan Drug Exclusivity for such a Product in the country of sale.
Upfront and Milestone Payments. 7.1 Upfront Payment: Novartis shall pay Osiris the sum of $3,000,000 (three million dollars), due upon the Effective Date. This payment shall be non-refundable and non-creditable against future earned royalties.
Upfront and Milestone Payments. In consideration of the license granted hereunder, CHROMADEX shall pay GM the following non-refundable payments:
Upfront and Milestone Payments. In partial consideration for the assignment and transfer of the Assigned Patents and the licenses granted under this Agreement, XYNOMIC agrees to pay to BII the following upfront payment, development milestone payments and commercial milestone payments:
(a) Upon execution of this Agreement, XYNOMIC shall pay to BII the following upfront payment: Three hundred thousand US Dollars (US$ 300,000) (the “Upfront Payment”)
(b) In addition to the payment above, XYNOMIC will pay to BII milestone payments as follows:
(i) Upon first dosing of a patient in Phase I Clinial Trial in the US or China: One Million seven hundred thousand US Dollars (US$ 1,700,000)
(ii) Upon first dosing of a patient in a pivotal Phase III Clinial Trial in the first indication in the US or China: Four Million US Dollars (US$ 4,000,000)
(iii) Upon first dosing of a patient in a pivotal Phase III Clinial Trial in a second indication in the US or China: Two Million US Dollards (US$ 2,000,000)
(iv) Upon the grant of the first Marketing Authorization of the first indication in the US: Seven Million US Dollars (US$ 7,000,000)
(v) Upon the grant of the first Marketing Authorization of the first indication in China: Three Million US Dollars (US$ 3,000,000)
(c) The milestone payments above will be made only for the first achievement of a given milestone by a Product, regardless of where the relevant milestone event occurs with respect to more Products.
(d) XYNOMIC shall inform BII in writing on the occurrence of a milestone event under Section 8.1(b) as soon as possible, but in no event later than [****]
(e) [****]
Upfront and Milestone Payments. Licensee shall inform Licensor of the occurrence of an event triggering a milestone payment as soon as possible, however, not later than within [***] Business Days after becoming aware of such event. Milestone payments under Section 7.2(i) are payable within [***] days after Licensee’s receipt of an invoice issued by Licensor for such payments. Milestone payments under Section 7.2(ii) are payable within [***] days after Licensee’s receipt of an invoice from Licensor; provided that, Licensee will have no obligation to make any such payment earlier than [***] days after Licensee’s notice to Licensor of the event triggering the applicable milestone payment. In the event that the upfront payment under Section 7.1 and the first milestone under Section 7.2(i) ([***] regarding the Licensed Product in the Field in any country the Territory) would be due within [***] months of each other, Licensee shall be entitled to pay the first milestone under Section 7.2(i) at the beginning of the [***] month after payment of the upfront payment (by way of example only, if Licensee paid the upfront payment in May, then the first milestone will not be paid earlier than [***] of the next year).
Upfront and Milestone Payments. In partial consideration for the assignment and transfer of the Licensed Patents and the licenses granted under this Agreement, XYNOMIC agrees to pay to BII the following upfront payment, development milestone payments and commercial milestone payments:
(a) Upon execution of this Agreement, XYNOMIC shall pay to BII the following upfront payment: One million US Dollars (US$ 1,000,000) (the “Upfront Payment”)
(b) In addition to the payment above, XYNOMIC will pay to BII milestone payments as follows:
(i) Upon first dosing of a patient in a Phase II or Phase III Clinical Trial in the first indication either of which is intended to be a pivotal trial: Seven Million US Dollars (US$ 7,000,000)
(ii) Upon the grant of the first Marketing Authorization of the first indication: Ten Million US Dollars (US$ 10,000,000)
(c) Each of the milestone payments above will be made only once and for the first achievement of a given milestone by a Product, regardless of where the relevant milestone event occurs with respect to more Products.
(d) XYNOMIC shall inform BII in writing on the occurrence of a milestone event under Section (b) as soon as possible, but in no event later than [****].
(e) [****]. 8.2 Royalties. Subject to Sections 8.5 and 9.13, in further consideration for the assignment and transfer of the Licensed Patents and the licenses granted under this Agreement, XYNOMIC shall pay to BII royalties on aggregate Net Sales in the Territory of each Product during a given Calendar Year at the following royalty rates (“Royalties”):
(a) [****]
(b) [****]
(c) [****]
Upfront and Milestone Payments. Irrespective of whether the PRODUCT is developed by INNOVIVE itself or its SUBLICENSEE, INNOVIVE shall make the following payment to SHINYAKU according to the development stage as follows:
i) Six Hundred Thousand United States Dollars (US$ 600,000) within thirty (30) days after EFFECTIVE DATE;
ii) Two Hundred Thousand (200,000) shares of INNOVIVE common stock within thirty (30) days after EFFECTIVE DATE;
iii) Two Hundred Thousand (200,000) shares of INNOVIVE common stock to be placed in escrow within thirty (30) days after the EFFECTIVE DATE and held in escrow until the acceptance of IND by FDA; provided that, if this Agreement expires or is terminated before the acceptance of an IND by FDA, then the aforementioned shares of INNOVIVE common stock shall be returned to INNOVIVE;
iv) [*] United States Dollars (US$ [*]), within thirty (30) days after the acceptance of IND by FDA;
v) [*] United States Dollars (US$ [*]) within thirty (30) days after starting the pivotal phase II clinical study specified in the DEVELOPMENT PROGRAM. The start of the said study shall be deemed to have occurred on the enrollment of the first patient;
vi) [*] United States Dollars (US$ [*]) within thirty (30) days after acceptance of the filing of the New Drug Application (NDA) for the first indication in the United States;
vii) [*] United States Dollars (US$ [*]) within thirty (30) days after NDA approval of the first indication in the United States; and
viii) [*] United States Dollars (US$ [*]) within thirty (30) days after obtaining the HEALTH REGISTRATION of the first indication in Europe.
