Examples of Celgene Option in a sentence
Promptly following Celgene’s delivery of a Celgene Option Notice with respect to a Product Candidate, the Parties will mutually update the applicable Appendices to the Development & Commercialization Agreement.
This Agreement will commence as of the Effective Date and, unless sooner terminated in accordance with the terms hereof or by mutual written consent, will continue until the later of the expiration of the Collaboration Program Term and expiration of the last-to-expire Celgene Option Period (the “Term”).
Within [***] of Celgene’s delivery of a Celgene Option Notice to Bluebird, Celgene (or an Affiliate designated by Celgene) and Bluebird will enter into a License Agreement in the form attached hereto as Exhibit A with respect to such Optioned Candidate (updating the appendices thereto), modified, if appropriate, as provided in Sections 4.2 or 5.5, and subject to Section 5.9. Upon execution of such License Agreement, such Optioned Candidate will be an “Elected Candidate” thereunder.
Celgene may exercise such option by providing to Bluebird, prior to the expiration of the Celgene Option Period, (i) written notice that a Product Candidate is selected by Celgene to be an Optioned Candidate hereunder, and (ii) the additional information set forth in Exhibit F (collectively, the “Celgene Option Notice”).
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If IND Acceptance is not achieved by [**] years following the end of the Option Term or, if IND Acceptance is achieved by such time but Celgene does not exercise the Celgene Program Option within the Celgene Option Exercise Period, except as provided in Section 8.9, all rights related to such Program(s) granted by Agios to Celgene hereunder shall terminate, and such Program(s) shall be deemed an Agios Reverted Program in accordance with Section 3.12.
Subject to Section 2.3.2, on an Available Target-by-Available Target basis, if CELGENE fails to provide its Notice of Exercise before the earlier of (a) expiration of the applicable Selection Term for such Available Target, and (b) expiration of the Option Term, then (i) the Celgene Option shall expire with respect to such Available Target, (ii) such Available Target shall be deemed a “Lapsed Target”, and (iii) such Lapsed Target shall no longer be an Available Target.
Celgene may exercise such option by providing to Bluebird, prior to the expiration of the Celgene Option Period, (a) written notice that a Product Candidate is selected by Celgene to be an Optioned Candidate hereunder, and (b) the additional information set forth in Exhibit G (collectively, the “Celgene Option Notice”).
Except with respect to selection of DOT1L (which is deemed to be a Selected Target as of the Effective Date), on an Available Target-by-Available Target basis, if CELGENE wishes to exercise the Celgene Option, CELGENE shall provide to EPIZYME written notice of exercise of such Celgene Option with respect to the Available Target (“Notice of Exercise”) during the applicable Selection Term.
This Agreement will commence as of the Original Agreement Date and, unless sooner terminated in accordance with the terms hereof or by mutual written consent, will continue until the later of the expiration of the Collaboration Program Term and expiration of the last-to-expire Celgene Option Period (the “Term”), [***].