Examples of Licensed Therapeutic Product in a sentence
If ONCOMED or a Sublicensee is not diligently pursuing, in accordance with Section 4.8, the development and commercialization of [***] Licensed Therapeutic Product with respect to each Commercial Therapeutic License granted to ONCOMED, then MORPHOSYS shall have the right to terminate such Commercial Therapeutic License under the terms and conditions of this Agreement.
If a milestone payment is paid with respect to the achievement of a certain milestone by a Licensed Therapeutic Product, the achievement of the same milestone by a different dosage or delivery form of the same Licensed Therapeutic Product shall not obligate FivePrime to make payment on the same milestone with such different dosage or delivery form of the same Licensed Therapeutic Product.
By way of example and not limitation, if the Cumulative Net Sales for a Licensed Therapeutic Product (under a non-Breakthrough Status) reaches $*** on January 1, 2020, then FivePrime would have the obligation to pay $*** to INBRX, and if the Cumulative Net Sales for such Licensed Therapeutic Product subsequently reached $*** on January 1, 2025, then FivePrime would have the obligation to pay $*** to INBRX.
FivePrime shall, in connection with the first occurrence of each milestone event listed below with respect to each Licensed Therapeutic Product, pay INBRX the milestone payments listed below in accordance with this Section 7.2. Each such payment shall be non-refundable and non-creditable.
For the purpose of the previous sentence, a “Back-up Product” means a Licensed Therapeutic Product that FivePrime substitutes for a Licensed Therapeutic Product that FivePrime abandons during development due to lack of production scalability, poor pharmacokinetics, lack of sufficient pharmacodynamic effects, insufficient efficacy, poor tolerability, safety concerns or toxicity.
A6.1.7.4 [****] Dollars ($[****] US) payable upon receipt of regulatory approval to market and sell Licensed Therapeutic Product, for each Licensed Therapeutic Product, from (a) the European equivalent governmental authority to the FDA and (b) the Japanese equivalent governmental authority to the FDA.
For each Licensed Therapeutic Product, FivePrime shall pay to INBRX the following sales-based milestone payments.
The License granted under Section 5.1.1 shall not preclude INBRX from researching, developing, making, using, importing and exporting a Multi-Specific Compound, including researching, developing, making, using, importing and exporting Compounds for such purpose, unless and until such Multi-Specific Compound is the subject of an Option timely exercised by FivePrime and becomes a Licensed Diagnostic Product and/or Licensed Therapeutic Product within the scope of the License.
If a milestone payment is paid with respect to the achievement of a milestone by a Licensed Therapeutic Product, the achievement of the same milestone by a Licensed Therapeutic Product that is a Back-up Product to the original Licensed Therapeutic Product would not obligate FivePrime to again pay such milestone payment.
For each Licensed Therapeutic Product, FivePrime shall pay to INBRX, in accordance with this Section 7.2, the non-refundable, non-creditable milestone payments set forth in Section 7.2.3 and 7.2.4 upon the achievement of the corresponding milestone event by or on behalf of FivePrime, its Affiliates or any of their sublicensees.