Option Field definition
Examples of Option Field in a sentence
In support of the foregoing, BioXcel shall inform third parties with which it enters into collaborations or other arrangements that BTI holds a first right to negotiate for BioXcel’s rights in product candidates in the Option Field and the duration of such right of BTI.
BioXcel’s covenant as set forth in this Section 1.C and BTI’s right of first negotiation as set forth in Section 1.B shall not prevent or interfere with BioXcel’s rights to the EvolverAI platform or use of the EvolverAI platform by third parties as long as BioXcel does not provide collaborative services to, or actively support, such third party in its evaluation of the results of the EvolverAI research and development engine to develop drugs in the Option Field.
Prior to the fifth (5th) anniversary of the IPO, BioXcel shall not develop drugs, or engage in preclinical discovery for the purpose of developing drugs, in the Option Field for or on behalf of a third party, utilizing EvolverAI or otherwise.
Within sixty (60) days of identifying a potential product candidate in the Option Field, BioXcel shall present such identified candidate to BTI.
Upon ten (10) Business Days’ prior written notice by Genocea, Isconova shall permit an independent auditor appointed by Genocea, at Genocea’s expense, to have access during normal business hours and no more than once a year to such records as may be reasonably necessary to verify Isconova’s determination that Time-Limited Exclusive Option Field Candidate is not available for a Legitimate Business Reason.