Examples of POC Notice in a sentence
Erasca shall have the right, exercisable by written notice to Katmai within [***] ([***]) days after Erasca provides the POC Notice, to submit to Katmai a non-binding offer, including purchase price and other material terms, for (a) the purchase of all Licensed Patents, Licensed Know-How and other assets owned by Katmai that are necessary or useful for Exploitation of Licensed Products in the Licensed Field in the Territory or (b) for the purchase of Katmai.
Notwithstanding anything in this Agreement to the contrary, if an IND-Ready Notice or POC Notice specifies, or Option Compound Proof of Concept is achieved, for two Option Indications, AstraZeneca shall only have a diligence obligation with respect to one Principal Indication.
Whether or not the Targacept Plan POC Notice specifies that Targacept believes it has achieved Option Compound Proof of Concept for the Option Indication specified in the Targacept Option Compound Development Plan (if any), AstraZeneca shall thereafter have the option to designate such Option Compound as an Option Compound Candidate Drug in accordance with the terms of Section 5.10.2(d)(1).
If the POC Notice specifies that Targacept has achieved Option Compound Proof of Concept for the Option Indication specified in the Option Compound Development Plan, AstraZeneca shall thereafter have the option under this Section 5.10.2(d) to designate such Option Compound as a Candidate Drug (the “POC Option”).
Failing such designation by AstraZeneca, the Targacept Plan POC Notice shall be treated as a POC Notice that specifies that Targacept [********], and the provisions of [********] shall apply.
Upon receipt of the POC Notice or upon a mutual agreement in writing to proceed with the Collaboration (the date of receipt of such POC Notice or the execution of such mutual agreement in writing to proceed with the Collaboration, the “Collaboration Start Date”), the Parties will collaborate in the Development and Commercialization of the Collaboration Products in accordance with Article 4 below.
Each POC Option shall expire [********] following the date that the corresponding POC Notice is delivered to AstraZeneca or such later date as the Parties may agree in writing (such period, the “POC Option Period”), 121 provided that, if AstraZeneca requests further information relating to such Option Compound as permitted by the next sentence and [********], then [********] (for example, if AstraZeneca requests certain information and [********].
If the POC Notice specifies that Targacept has achieved Option Compound Proof of Concept [********] in the Option Compound Development Plan, AstraZeneca shall thereafter have the option under this Section 5.10.2(d) to designate such Option Compound as a Candidate Drug (the “POC Option”).
Whether or not the Targacept Plan POC Notice specifies that Targacept believes it has achieved Option Compound Proof of Concept for the Option Indication specified in the Targacept Option Compound Development Plan (if any), AstraZeneca shall [********].