Examples of Regulatory Milestone Event in a sentence
Upon such achievement of a Development and Regulatory Milestone Event, Vir shall pay Sanofi the non-refundable, non-creditable development and regulatory milestone payment described in the table below for the applicable Development and Regulatory Milestone Event (each a “Development and Regulatory Milestone Payment”) within [***] after Vir’s receipt of an invoice with respect to such achievement of a Development and Regulatory Milestone Event.
Each Development and Regulatory Milestone Payment shall be payable only upon the first achievement of such Development and Regulatory Milestone Event for Licensed Product containing the applicable Named Compound or Derivative Compound.
Vir shall notify Sanofi of achievement by Vir, its Affiliates or Sublicensees of the development and regulatory milestone events described in the table below (each a “Development and Regulatory Milestone Event”) within [***] after the corresponding Development and Regulatory Milestone Event is achieved.
After the Milestone Period, Vir shall deliver to Sanofi an annual Development report within [***] after the end of each Calendar Year, which report will contain (a) a summary of completed and planned Development activities during the reporting period, and (b) anticipated timing of achievement of each Development and Regulatory Milestone Event, to the extent not already achieved.
In the event that a combined Phase 2 Clinical Study and Phase 3 Clinical Study is conducted for a Licensed Product, then Development and Regulatory Milestone Event A shall be deemed to be achieved when the fifth patient is dosed in the Phase 2 portion of the Clinical Study and Development and Regulatory Milestone Event B shall be deemed to be achieved when the fifth patient is dosed in the Phase 3 portion of the Clinical Study.