Backup Licensed Product definition

Backup Licensed Product means, with respect to a Licensed Product directed to a [***] that is the then-current subject of a Non-Exclusive License (“Original Licensed Product”), any other Licensed Product that (a) is directed to [***], and (b) includes Omega Controller(s) (i) [***] and (ii) that results from [***] in such Original Licensed Product.
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Backup Licensed Product means any Licensed Product wherein the dipeptidyl peptidase-IV inhibiting chemical entity is different from that in the First Licensed Product and is either (a) developed in addition to the First Licensed Product or (b) developed as a replacement for the First Licensed Product or a Backup Licensed Product should such Licensed Product fail to complete successfully clinical studies or fail to obtain an Approval. Phenomix may not initiate development of more than three (3) Backup Licensed Products.
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Examples of Backup Licensed Product in a sentence

  • The Non-Exclusive License will also include Omega’s right to replace such Licensed Product with a Backup Licensed Product at any time prior to the initiation by Omega of the first Phase 1 Study (as such term is defined in the Non-Exclusive License) of a Licensed Product, not to exceed [***] ([***]) such replacement Backup Licensed Products.

  • A payment of fifty percent (50%) of the Initial Payment for each such additional Backup Licensed Product shall be due within thirty (30) days upon initiation of development of such Backup Licensed Product.

  • Milestone payments that would have been due on the Licensed Product replaced by such Backup Licensed Product are to be paid thirty (30) days after a Milestone listed in the table above has been achieved.

  • Omega will promptly notify the Escrow Agent in writing if, at any time during the Term prior to [***] of the Lead Licensed Product, Omega desires to replace the Lead Licensed Product with a Backup Licensed Product (“Backup Product Notice”).

  • The provisions of this Section 3.1 will apply to up to [***] ([***]) instances of Backup Licensed Product replacement.

  • When milestone events described in Section 3.1.1 are achieved with respect to such Backup Licensed Product where the corresponding milestone payment amount was not previously paid with respect to the Discontinued Licensed Product, then Maxygen shall pay such corresponding milestone payment amount pursuant to Section 3.1.1.

  • For clarity, Milestone Payments are payable for the Lead Licensed Product and for each Backup Licensed Product to achieve such Milestone Event and are not creditable in the event Omega elects to replace a Lead Licensed Product in accordance with Section 3.1(a).

  • If Maxygen has made any payment with respect to such Discontinued Licensed Product under Section 3.1.1 in respect of the achievement of any milestone event described therein, then following the accomplishment of that same milestone event with respect to its Backup Licensed Product, no milestone payment shall be due hereunder in respect of such achievement.

  • For the avoidance of doubt, the identity of potential Target to which a Backup Licensed Product is directed and the information contained in any Backup Product Notice submitted by Omega to the Escrow Agent, including any Omega Controller sequence information and the Human Genome Target(s) any such Omega Controller is designed to Genome Modulate, are the Confidential Information of Omega.

  • Such Backup Product Notice will identify the proposed Target (as such term is defined in the Development and Option Agreement) to which the Backup Licensed Product is directed in accordance with Section 4.2 of the Development and Option Agreement, and Section 4.2(a)-(d) and Section 4.3 of the Development and Option Agreement are incorporated herein by reference and apply as if the Backup Product Notice were a Target Notice (as such term is defined in the Development and Option Agreement).

Related to Backup Licensed Product

  • Licensed Product means a product or part of a product in the Licensed Field of Use: (A) the making, using, importing or selling of which, absent this license, infringes, induces infringement, or contributes to infringement of a Licensed Patent; or (B) which is made with, uses or incorporates any Technology.

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Licensed Compound means [***].

  • Royalty Product means, either (a) an Alnylam Royalty Product, or (b) an Inex Royalty Product.

  • Diagnostic Product means any test or assay for diagnosing or detecting a disease, disorder, medical condition, or symptom.

  • Hemp product means the same as that term is defined in § 3.2-4112.

  • Licensed Compounds means: (a) Research Program Active Compounds; (b) Novartis Active Compounds; (c) salts, hydrates, solvates, esters, metabolites, intermediates, stereoisomers and polymorphs of Research Program Active Compounds or Novartis Active Compounds; and (d) prodrugs of Research Program Active Compounds or Novartis Active Compounds (any of the foregoing, a “Licensed Compound”).

  • Collaboration Product means a pharmaceutical product containing or comprising Compound in any dosage form alone, or in combination with, one or more other pharmaceutically active ingredients, and any and all Improvements thereto.

  • Generic Product means a product which (a) contains as its active pharmaceutical ingredient a compound that is (or is substantially the same as) the Licensed Compound, and (b) has been placed on the market pursuant to a validly granted marketing authorization.

  • Licensed producer means an agent, broker, or reinsurance intermediary licensed pursuant to the applicable provision of the insurance law of any jurisdiction.

  • Drug Product means a specific drug in dosage form from a known source of manufacture, whether

  • Therapeutic Product means a health product categorised as a therapeutic product in the First Schedule to the Act;

  • Nicotine product means a product that contains nicotine and is not any of the following:

  • Licensed Field means [***].

  • Licensed Territory means worldwide.

  • Licensed Fields of Use means the fields of use identified in Appendix B.

  • Bundled Product means Product sold together with any other product(s) or service(s) at a single unit price, whether packaged together or separately, and which other product(s) or service(s) have material independent value from Product itself.

  • Biological product means a virus, therapeutic serum, toxin, antitoxin, vaccine, blood, blood component or derivative, allergenic product, protein other than a chemically synthesized polypeptide, or analogous product, or arsphenamine or any derivative of arsphenamine or any other trivalent organic arsenic compound, applicable to the prevention, treatment, or cure of a disease or condition of human beings.

  • New Product means the Synology-branded hardware product and Synology-branded accessories contained in the original packaging Customer bought from an authorized Synology distributor or reseller. You may see our “New Product” at Product Support Status.

  • Aerosol Product means a pressurized spray system that dispenses product ingredients by means of a propellant contained in a product or a product's container, or by means of a mechanically induced force. “Aerosol Product” does not include “Pump Spray.”

  • medicinal product means any substance or combination of substances presented for treating or preventing disease in human beings or animals and any substance or combination of substances which may be administered to human beings or animals with a view to making a medical diagnosis or to restoring, correcting or modifying physiological functions in humans or in animals;

  • Competing Product means [***].

  • complex product means a product which is composed of multiple components which can be replaced permitting disassembly and re-assembly of the product.

  • Licensed Program means the executable processing programs of licensed information, which is composed of various modules in the Licensed Software package provided by the Licensor.

  • Commercialization or “Commercialize” means activities directed to marketing, promoting, research and development as required, manufacturing for sale, offering for sale, distributing, importing or selling a product, including sub-licensing or sub-contracting of these activities.

  • Non-Microsoft Product means any third-party-branded software, data, service, website or product, unless incorporated by Microsoft in a Product.