Additional Target. (a) During the first eighteen (18) months of the Research Term or (b) in the event that during the Research Term but after the achievement of Research Milestone Event No. 3, ONO has delivered, as a consequence of a scientific, or public health reason, or, any reasonably acceptable business reason, the Cessation Notice of Active Research directed to Collaboration Target to Receptos, ONO shall have the right to request, subject to the approval of Receptos in its discretion, Receptos to conduct another collaborative research program on an additional GPCR (“Additional Target”) other than ***. Upon acceptance by Receptos of such an Additional Target collaborative research program, ONO and Receptos shall execute a separate definitive agreement with substantially the same terms and conditions as specified herein for Collaboration Target, with the exception that the upfront payment for such definitive agreement shall be the amount of ***.
Appears in 3 contracts
Sources: Collaboration Agreement (Receptos, Inc.), Collaboration Agreement (Receptos, Inc.), Collaboration Agreement (Receptos, Inc.)