Second Generation Compound definition
Examples of Second Generation Compound in a sentence
The Joint Steering Committee shall determine which of the Parties shall be responsible for performing the obligations described in clauses (i) and (ii) of the immediately preceding sentence with respect to any Second Generation Compound, the Replacement Compound(s) and any Outside Compounds and the corresponding Licensed Products.
Unless this Agreement is sooner terminated in accordance with the provisions of this Article 13, the Research Phase with respect to a particular compound shall expire upon the designation of such compound as a Second Generation Compound in accordance with Section 4.1.4 hereof.
At such time, such compound will become part of the Development Program and the Joint Steering Committee will amend the Annual Development Plan then in effect as appropriate to cover such Second Generation Compound including new product objectives for each of the Parties.
If the Joint Steering Committee determines that any Metasyn or MKG Blood Pool Magnetic Resonance Agent has been shown to have significant performance advantages (with respect to marketing, technical or other requirements) over any compound then in development (including, without limitation, the Licensed Compound) then the Joint Steering Committee may designate such compound a Second Generation Compound.
In the event that the Development Phase is terminated with respect to any compound pursuant to Section 13.1.2, then such compound may not be designated as a Second Generation Compound or a Replacement Compound by the Joint Steering Committee.
In the event that the Research Program is terminated with respect to any compound pursuant to Section 13.2.2, then such compound may not be designated as a Second Generation Compound or a Replacement Compound by the Joint Steering Committee.
Each milestone payment in Section 8.5(b) shall be paid only once with respect to each of the first Licensed Product containing a Second Generation Compound and the first Licensed Product [***].
HMR may not use any data or information generated by or at the direction of VERTEX with respect to a Second Generation Compound unless it has reimbursed VERTEX for such associated development costs.
If the foregoing 120-day period is not sufficient to enable HMR to conduct at least sixty (60) days of IN VIVO or IN VITRO tests as it deems appropriate with respect to a Second Generation Compound, HMR will so notify VERTEX within sixty (60) days after commencement of the 120-day period, and additional time will be provided as may be reasonably agreed by the parties to facilitate the testing.
HMR may exercise the Second Generation Option with respect to a Second Generation Compound by written notice provided to VERTEX not later than one hundred twenty (120) days after receipt of the information provided to it by VERTEX under clause (ii)(A) above, and the Second Generation Option provided in this subsection (d) shall expire if not exercised prior to that time.