{"component": "clause", "props": {"groups": [{"snippet": "Vitae shall have the right, but not the obligation, to co-fund the global Development of one (1) Product by sharing between ten percent (10%) to twenty percent (20%) of all costs of the Phase III Studies for such Product in return for an increased royalty in accordance with Section 9.6.5(b) (the \u201cCo-Development Option\u201d).", "size": 5, "samples": [{"hash": "cNKwOWCz74F", "uri": "/contracts/cNKwOWCz74F#co-development-option", "label": "Research Collaboration and License Agreement (Vitae Pharmaceuticals, Inc)", "score": 25.7227926078, "published": true}, {"hash": "eCIOWK5GFkW", "uri": "/contracts/eCIOWK5GFkW#co-development-option", "label": "Research Collaboration and License Agreement (Vitae Pharmaceuticals, Inc)", "score": 25.6926762491, "published": true}, {"hash": "hWicZoQNPs", "uri": "/contracts/hWicZoQNPs#co-development-option", "label": "Research Collaboration and License Agreement (Vitae Pharmaceuticals, Inc)", "score": 25.6570841889, "published": true}], "snippet_links": [{"key": "the-right", "type": "clause", "offset": [17, 26]}, {"key": "the-obligation", "type": "clause", "offset": [36, 50]}, {"key": "development-of", "type": "clause", "offset": [74, 88]}, {"key": "costs-of", "type": "clause", "offset": [173, 181]}, {"key": "phase-iii-studies", "type": "clause", "offset": [186, 203]}, {"key": "in-return", "type": "clause", "offset": [221, 230]}, {"key": "in-accordance-with", "type": "definition", "offset": [256, 274]}, {"key": "development-option", "type": "clause", "offset": [301, 319]}], "hash": "75db414d2b5140d9dc6252534a84e062", "id": 1}, {"snippet": "(a) Promptly following the Completion of each of the Phase IIa Clinical Trials of P-1037 in NCFB and COPD, and the multi-day ([***]) dose-ranging Phase I Clinical Trial of P-1055 (or such other Licensed Compound selected by Vertex for such Phase I Clinical Trial), Parion shall deliver to Vertex a Key Results Memorandum from each such Clinical Trial. Within [***] after the delivery of the last of the foregoing Key Results Memoranda, Vertex shall notify Parion in writing (the \u201cP-1055 Development Notice\u201d) that (A) Vertex intends to continue Development of P-1055 or any other Licensed Compound (a \u201cP-1055 Lead Compound\u201d) as a proposed treatment for NCFB (whether or not Vertex intends to continue Development of P-1055 as a potential treatment for COPD), (B) Vertex intends to continue Development of a P-1055 Lead Compound as a treatment for COPD but not NCFB, or (C) based on the data, Vertex does not intend to continue Development of P-1055 or any other Licensed Compound as a potential treatment for NCFB or COPD. If Vertex intends to continue Development of any P-1055 Lead Compound for NCFB and/or COPD, Vertex shall (concurrently with the delivery of the P-1055 Development Notice) provide Parion (1) [***] (the \u201cP-1055 Lead Compound Licensed Product\u201d) as a proposed treatment for NCFB and/or COPD, as applicable, and (2) [***] as a proposed treatment for NCFB or COPD, as applicable, [***]. The Parties shall meet within [***] after receipt of such information to discuss [***].\n(b) If Vertex notifies Parion that it intends to continue Development of the P-1055 Lead Compound for NCFB in the P-1055 Development Notice, Parion shall have the option, exercisable by written notice from Parion to Vertex on or before the [***] following Parion\u2019s receipt of the P-1055 Development Notice, to exercise an option to jointly Develop the P-1055 Lead Compound (the \u201cNCFB Co-Development Election\u201d) as a potential treatment for patients with NCFB. If Parion exercises its NCFB Co-Development Election pursuant to this Section 3.2.6(b), Parion shall contribute to the Shared Development Cost of Developing the P-1055 Lead Compound as a potential treatment for patients with NCFB as described in Section 3.2.6(g).\n(c) If Vertex notifies Parion that it intends to continue Development of the P-1055 Lead Compound for COPD but not NCFB in the P-1055 Development Notice, Parion shall have the option, exercisable by written notice from Parion to Vertex on or before the [***] following Parion\u2019s receipt of the P-1055 Development Notice, to exercise an option to jointly Develop the P-1055 Lead Compound (the \u201cCOPD Co-Development Election\u201d) as a potential treatment for patients with COPD. If Parion exercises its COPD Co-Development Election pursuant to this Section 3.2.6(c), Parion shall contribute to the Shared Development Cost of Developing the P-1055 Lead Compound as a potential treatment for patients with COPD as described in Section 3.2.6(g).\n(d) If Parion exercises its NCFB Co-Development Election and thereafter the JSC determines that the Development of the P-1055 Lead Compound as a proposed treatment for NCFB shall cease prior to the receipt of Marketing Approval in the U.S. for the P-1055 Lead Compound Licensed Product, Vertex shall advise Parion in writing of the status, if any, of its Development of the P-1055 Lead ActiveUS 144208420v.18 Compound (a \u201cNCFB Development Termination Notice\u201d). If Vertex is currently Developing, or plans to commence Development of, the P-1055 Lead Compound as a potential treatment for COPD, but Parion has either not exercised, or has not been offered the opportunity to exercise, the COPD Co-Development Election, then Vertex shall provide Parion (concurrently with the NCFB Development Termination Notice) (A) a current summary of the clinical Data regarding the P-1055 Lead Compound as a potential treatment for COPD, (B) [***] as a proposed treatment for COPD, and (C) [***] as a potential treatment for COPD [***], together with, if applicable, (D) a detailed report of out-of-pocket costs and FTE Costs of Development of the P-1055 Lead Compound as a proposed treatment for COPD incurred by Vertex since the Completion of the Phase IIa Clinical Trial of P-1055 as a treatment for COPD, calculated as of the most recent practicable date (\u201cCOPD Pre-Option Costs\u201d). The Parties shall meet within [***] after receipt of such information to discuss the Development Plan and budget.\n(e) Parion shall have the option, exercisable by written notice from Parion to Vertex on or before the [***] following Parion\u2019s receipt of the NCFB Development Termination Notice, to opt-in to the joint Development of the P-1055 Lead Compound as a potential treatment for patients with COPD (the \u201cParion COPD Opt-in\u201d); provided that Parion previously exercised the NCFB Co-Development Election and Parion pays an opt-in fee to Vertex equal to the Co-Development Percentage of the COPD Pre-Option Costs within [***] of Parion\u2019s exercise of the Parion COPD Opt-in; provided further, Parion shall pay its share of the Shared Development Cost of Developing the P-1055 Lead Compound as a proposed treatment for patients with COPD as described in Section 3.2.6(g) incurred on or after the last day included in the calculation of the COPD Pre-Option Costs.\n(f) Each of the NCFB Co-Development Election, the COPD Co-Development Election and the Parion COPD Opt-in shall be referred to herein as a \u201cCo-Development Election.\u201d Failure by Parion to provide Vertex a notice with respect to a Co-Development Election within the applicable times above shall result in the expiration of the applicable option with respect to the potential joint Development of the P-1055 Lead Compound.\n(g) If Parion makes a Co-Development Election, Parion shall [***] (the \u201cCo-Development Percentage\u201d), of Development of the P-1055 Lead Compound for NCFB or COPD, as applicable, incurred after the Completion of the applicable Phase IIa Clinical Trial pursuant to the Development Plan, as such Development Plan may be amended, for the P-1055 Lead Compound Licensed Product for such Indication (the \u201cShared Development Cost\u201d), including [***]. Notwithstanding the foregoing, in the case of a Parion COPD Opt-in, the Co-Development Percentage shall remain unchanged from the Co-Development Percentage specified in Parion\u2019s prior NCFB Co-Development Election. Vertex shall perform a reconciliation of Shared Development Costs incurred by each Party beginning after Parion\u2019s Co-Development Election as set forth in Section 6.13.\n(h) If Parion fails to pay its share of the Shared Development Cost for Development of the P-1055 Lead Compound for NCFB or COPD, as applicable, in accordance with Section 3.2.6(g) and Section 6.13, in each case within [***] receipt of notice of failure to pay such share within the time period provided in Section 6.13(d) after Vertex\u2019s delivery of the applicable Development Reconciliation Report, then:\n(i) Parion shall have no right to elect to jointly commercialize the P-1055 Lead Compound for such Indication pursuant to Section 5.1; ActiveUS 144208420v.18\n(ii) Vertex [***], either (A) [***], or (B) [***] the P-1055 Lead Compound [***];\n(iii) [***] Vertex as set forth in [***]\n(iv) [***].\n(v) Within [***] after the end of each Calendar Quarter thereafter, Vertex shall provide to Parion an itemized report 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5261]}, {"key": "failure-by", "type": "clause", "offset": [5451, 5461]}, {"key": "to-provide", "type": "definition", "offset": [5469, 5479]}, {"key": "a-notice", "type": "definition", "offset": [5487, 5495]}, {"key": "with-respect-to", "type": "clause", "offset": [5496, 5511]}, {"key": "the-applicable", "type": "clause", "offset": [5545, 5559]}, {"key": "expiration-of-the", "type": "clause", "offset": [5592, 5609]}, {"key": "applicable-option", "type": "definition", "offset": [5610, 5627]}, {"key": "pursuant-to-the", "type": "clause", "offset": [5955, 5970]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [6146, 6175]}, {"key": "in-the-case", "type": "clause", "offset": [6177, 6188]}, {"key": "development-costs-incurred", "type": "clause", "offset": [6408, 6434]}, {"key": "by-each-party", "type": "clause", "offset": [6435, 6448]}, {"key": "fails-to-pay", "type": "clause", "offset": [6542, 6554]}, {"key": "for-development", "type": "clause", "offset": [6596, 6611]}, {"key": "in-accordance-with", "type": "definition", "offset": [6673, 6691]}, {"key": "each-case", "type": "definition", "offset": [6730, 6739]}, {"key": "failure-to-pay", "type": "definition", "offset": [6774, 6788]}, {"key": "time-period", "type": "definition", "offset": [6811, 6822]}, {"key": "applicable-development", "type": "definition", "offset": [6882, 6904]}, {"key": "reconciliation-report", "type": "definition", "offset": [6905, 6926]}, {"key": "no-right-to", "type": "clause", "offset": [6956, 6967]}, {"key": "section-51", "type": "clause", "offset": [7056, 7067]}, {"key": "calendar-quarter", "type": "clause", "offset": [7266, 7282]}, {"key": "supporting-documentation", "type": "definition", "offset": [7430, 7454]}, {"key": "subject-to", "type": "definition", "offset": [7478, 7488]}, {"key": "audit-right", "type": "definition", "offset": [7498, 7509]}], "hash": "698abd512b1cc806e4ef3bff6f416d02", "id": 8}, {"snippet": "If Vitae exercises its Co-Development Option with respect to a Product pursuant to Section 5.4, Vitae shall be entitled to an increased royalty rate for such Product as follows. The applicable royalty rate from the table in Section 9.6.1 shall be increased by **** per 1% of Phase III Study Development costs shared by Vitae. For example, if Vitae shares in ten percent (10%) of the Development costs for the Phase III Study for such Product, then the applicable royalty rate for each tier shall increase by **** (i.e., a **** royalty rate shall become ****). If Vitae co-funds less than ten percent (10%) of the Development costs for the Phase III Study because actual expenses exceeded BI\u2019s budget forecast by more than ten percent (10%), then Vitae shall still be entitled to an upward adjustment in the applicable royalty rate based on its percentage share of actual Development costs for the Phase III Study (in accordance with the formula set forth in this Section 9.6.5(b)). For example, if Vitae ultimately shares in five percent (5%) of the actual Phase III Study Development costs, then the applicable royalty rate for each tier shall increase by **** (i.e., a **** royalty rate shall become ****).", "size": 5, "samples": [{"hash": "cNKwOWCz74F", "uri": "/contracts/cNKwOWCz74F#co-development-option", "label": "Research Collaboration and License Agreement (Vitae Pharmaceuticals, Inc)", "score": 25.7227926078, "published": true}, {"hash": "eCIOWK5GFkW", "uri": "/contracts/eCIOWK5GFkW#co-development-option", "label": "Research Collaboration and License Agreement (Vitae Pharmaceuticals, Inc)", "score": 25.6926762491, "published": true}, {"hash": "hWicZoQNPs", "uri": "/contracts/hWicZoQNPs#co-development-option", "label": "Research Collaboration and License Agreement (Vitae Pharmaceuticals, Inc)", "score": 25.6570841889, "published": true}], "snippet_links": [{"key": "development-option", "type": "clause", "offset": [26, 44]}, {"key": "with-respect-to", "type": "clause", "offset": [45, 60]}, {"key": "section-54", "type": "clause", "offset": [83, 94]}, {"key": "applicable-royalty-rate", "type": "definition", "offset": [182, 205]}, {"key": "section-961", "type": "clause", "offset": [224, 237]}, {"key": "increased-by", "type": "clause", "offset": [247, 259]}, {"key": "phase-iii-study", "type": "clause", "offset": [275, 290]}, {"key": "costs-shared", "type": "clause", "offset": [303, 315]}, {"key": "for-example", "type": "definition", "offset": [326, 337]}, {"key": "the-development", "type": "clause", "offset": [379, 394]}, {"key": "the-phase", "type": "clause", "offset": [405, 414]}, {"key": "actual-expenses", "type": "clause", "offset": [663, 678]}, {"key": "upward-adjustment", "type": "clause", "offset": [782, 799]}, {"key": "based-on", "type": "clause", "offset": [831, 839]}, {"key": "percentage-share", "type": "clause", "offset": [844, 860]}, {"key": "actual-development-costs", "type": "definition", "offset": [864, 888]}, {"key": "in-accordance-with", "type": "definition", "offset": [914, 932]}, {"key": "five-percent", "type": "clause", "offset": [1025, 1037]}], "hash": "c5172191537e832c95f1d74fd383ad6d", "id": 2}, {"snippet": "With respect to each Option Candidate, at any time prior to the expiration of the applicable Option Exercise Period, Artiva may, in its sole discretion, as an alternative to exercising the Option for such Option Candidate, elect to engage with GCLC in discussions to enter into a co-development arrangement for such Option Candidate, for which GCLC shall engage and negotiate with Artiva in good faith (in which case the Option Exercise Period may be extended while the Parties are continuing to negotiate such arrangement in good faith).", "size": 4, "samples": [{"hash": "g8SGAIgxEFx", "uri": "/contracts/g8SGAIgxEFx#co-development-option", "label": "Option and License Agreement (Artiva Biotherapeutics, Inc.)", "score": 35.4887063655, "published": true}, {"hash": "3Y8obszIwHD", "uri": "/contracts/3Y8obszIwHD#co-development-option", "label": "Option and License Agreement (Artiva Biotherapeutics, Inc.)", "score": 35.3353867214, "published": true}, {"hash": "efpjRdRRzUV", "uri": "/contracts/efpjRdRRzUV#co-development-option", "label": "Option and License Agreement (Artiva Biotherapeutics, Inc.)", "score": 32.266255989, "published": true}], "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [0, 15]}, {"key": "option-candidate", "type": "definition", "offset": [21, 37]}, {"key": "at-any-time", "type": "clause", "offset": [39, 50]}, {"key": "prior-to-the", "type": "clause", "offset": [51, 63]}, {"key": "applicable-option-exercise-period", "type": "definition", "offset": [82, 115]}, {"key": "sole-discretion", "type": "clause", "offset": [136, 151]}, {"key": "exercising-the-option", "type": "clause", "offset": [174, 195]}, {"key": "to-enter", "type": "definition", "offset": [264, 272]}, {"key": "in-good-faith", "type": "definition", "offset": [388, 401]}, {"key": "parties-are", "type": "clause", "offset": [470, 481]}, {"key": "to-negotiate", "type": "definition", "offset": [493, 505]}], "hash": "ccca171a1f5547c906aaf0b30dcb7afb", "id": 3}, {"snippet": "ARCHEMIX shall have the option, exercisable on a one-time basis for each IL-23 Aptamer undergoing Development as a potential IL-23 Product (the \u201cCo-Development Option\u201d), but not the obligation, to Co-Develop any IL-23 Aptamer (within the applicable Indication and formulation and, as to the Psoriatic Diseases Co-Development Option, within the applicable Co-Development Territory(ies)), and to share a certain percentage of the Operating Income (Loss) applicable to that IL-23 Aptamer within the applicable Co-Development Territory(ies), Indication and formulation by providing written notice to ELAN, which notice shall specify the applicable potential IL-23 Aptamer, the Portions of this Exhibit were omitted and have been filed separately with the Secretary of the Commission pursuant to the Company\u2019s application requesting confidential treatment under Rule 406 of the Securities Act. applicable Co-Development Territory(ies) (as to the Psoriatic Diseases Co-Development Option) and the applicable ARCHEMIX Co-Development Percentage (the \u201cCo-Development Option Notice\u201d). The Co-Development Option shall only be exercised upon ARCHEMIX\u2019 payment of the applicable Co-Development Option Exercise Fee (as defined in Section 4.11.1(b) below) either (i) with respect to each Psoriatic Diseases Co-Development Option, at any time during the period commencing on the Effective Date and ending on the Psoriatic Diseases Option Termination Date (the \u201cPsoriatic Diseases Option Exercise Period\u201d) or (ii) with respect to each Non-Parenteral Co-Development Option, at any time during the period commencing on the Effective Date and ending on the Non-Parenteral Option Termination Date (the \u201cNon-Parenteral Option Exercise Period\u201d). If such payment is timely made as provided in the previous sentence, (i) the IL-23 Aptamer that is the subject of the Co-Development Option shall thereafter be deemed to be a Co-Developed Product (within the applicable Indication and formulation and, as to the Psoriatic Diseases Co-Development Option, for the applicable Co-Development Territory(ies)) for purposes of this Agreement, (ii) ARCHEMIX shall thereafter pay to ELAN the ARCHEMIX Co-Development Percentage of all Development Costs and Commercialization Costs applicable to that Co-Developed Product, either for the Territory and relevant formulations as to the Non-Parenteral Co-Development Option or for the applicable Co-Development Territory(ies), Indications and formulations as to the Psoriatic Diseases Co-Development Option, and (iii) ARCHEMIX shall share in the fraction of Operating Income (Loss) derived from such Co-Developed Product in the Territory for the relevant formulation (as to the Non-Parenteral Co-Development Option) or the applicable Co-Development Territory(ies), Indications and formulations (as to the Psoriatic Diseases Co-Development Option) in accordance with Section 4.11.3, equal to the applicable ARCHEMIX Co-Development Percentage multiplied by the applicable Operating Income (Loss) for that Co-Development Product within the applicable Co-Development Territory(ies), Indications and formulations. The Net Sales used to calculate Operating Income (Loss) for purposes of the Psoriatic Diseases Co-Development Option shall consist only of Net Sales derived from prescriptions written by Board-certified dermatologists and any other medical professionals whose prescriptions for Psoriatic Diseases (versus other Indications) are capable of being segregated, as reasonably determined in good faith by the JMC. The appropriate method of allocating Development Costs and Commercialization Costs on a Co- Portions of this Exhibit were omitted and have been filed separately with the Secretary of the Commission pursuant to the Company\u2019s application requesting confidential treatment under Rule 406 of the Securities Act. Development Territory by Co-Development Territory basis shall be discussed in good faith between the Parties at the time the Psoriatic Diseases Co-Development Option Notice is given to ARCHEMIX, and shall be subject to the dispute resolution procedure set forth in Section 13.1 if the Parties cannot mutually agree upon such matter within [***] days after such discussions commence. ARCHEMIX shall not be entitled to receive milestone payments or royalties for milestone events or Net Sales occurring with respect to such Co-Developed Product for the applicable Co-Development Territory (or the Territory for Non-Parenteral Co-Developed Products) and for the relevant Indications and formulations being Co-Developed, after ARCHEMIX has given the applicable Co-Development Option Notice. If ARCHEMIX does not timely exercise its Co-Development Option within the applicable Option Exercise Period and timely pay the applicable Co-Development Option Exercise Fee, ELAN shall be free thereafter to Develop the applicable IL-23 Aptamer and/or IL-23 Product on its own or have it Developed under sublicense to a Third Party for any and all Indications and formulations throughout the Territory with no further option exercisable by ARCHEMIX. Notwithstanding any of the foregoing, in no event shall ARCHEMIX be entitled to co-promote any Product (whether or not it has Co-Developed such Product) with ELAN.", "size": 4, "samples": [{"hash": "eAVhda9aWIa", "uri": "/contracts/eAVhda9aWIa#co-development-option", "label": "Collaborative Research and License Agreement (Nitromed Inc)", "score": 21.0, "published": true}, {"hash": "cZunLh8FFTC", "uri": "/contracts/cZunLh8FFTC#co-development-option", "label": "Collaborative Research and License Agreement (Archemix Corp.)", "score": 21.0, "published": true}], "snippet_links": [{"key": "the-option", "type": "clause", "offset": [20, 30]}, {"key": "time-basis", "type": "clause", "offset": [53, 63]}, {"key": "development-option", "type": "clause", "offset": [148, 166]}, {"key": "the-obligation", "type": "clause", "offset": [178, 192]}, {"key": "the-applicable", "type": "clause", "offset": [234, 248]}, {"key": "development-territory", "type": "definition", "offset": [358, 379]}, {"key": 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"offset": [213, 227]}], "hash": "44b1637f1465094e99bc1fe79919694c", "id": 5}, {"snippet": "Silence shall have the option, subject to the agreement of the relevant terms, to co-Develop any Licensed Products and Licensed Compounds directed to a Selected Target (or if any Licensed Product is directed to more than one (1) Selected Target, then to such Selected Targets as such Licensed Product is directed to), to take effect from the Initiation of the first Phase 2 Trial of a Licensed Product directed to such Selected Target (the \u201cCo-Development Option\u201d). Silence may exercise the Co-Development Option by written notice to AZ to be received by AZ no later than [***] days after [***] (the \u201cCo-Development Option Period\u201d). On receipt of such notice by AZ, AZ and Silence shall negotiate the terms of a co-Development agreement in good faith for a period of [***] days or such longer period as Silence and AZ may otherwise agree in writing. Any such agreement shall include (i) Silence\u2019s respective contribution to such Co-Development and (ii) any additional compensation payable by AZ in consideration of Silence\u2019s additional Development work and/or costs incurred in such co-development of the relevant Licensed Product.", "size": 2, "samples": [{"hash": "3bbD5IzZSBX", "uri": "/contracts/3bbD5IzZSBX#co-development-option", "label": "Research Collaboration, Option and License Agreement (Silence Therapeutics PLC)", "score": 31.6338124572, "published": true}, {"hash": "lJB4kJbHd94", "uri": "/contracts/lJB4kJbHd94#co-development-option", "label": "Research Collaboration, Option and License Agreement (Silence Therapeutics PLC)", "score": 31.4722792608, "published": true}], "snippet_links": [{"key": "the-option", "type": "clause", "offset": [19, 29]}, {"key": "subject-to-the-agreement", "type": "clause", "offset": [31, 55]}, {"key": "relevant-terms", "type": "definition", "offset": [63, 77]}, {"key": "licensed-products", "type": "clause", "offset": [97, 114]}, {"key": "licensed-compounds", "type": "definition", "offset": [119, 137]}, {"key": "directed-to", "type": "definition", "offset": [138, 149]}, {"key": "selected-targets", "type": "clause", "offset": [259, 275]}, {"key": "initiation-of-the", "type": "clause", "offset": [342, 359]}, {"key": "phase-2-trial", "type": "definition", "offset": [366, 379]}, {"key": "the-co", "type": "clause", "offset": [487, 493]}, {"key": "notice-to", "type": "definition", "offset": [524, 533]}, {"key": "by-az", "type": "clause", "offset": [552, 557]}, {"key": "days-after", "type": "definition", "offset": [578, 588]}, {"key": "development-option-period", "type": "definition", "offset": [604, 629]}, {"key": "receipt-of", "type": "clause", "offset": [636, 646]}, {"key": "notice-by", "type": "clause", "offset": [652, 661]}, {"key": "terms-of", "type": "definition", "offset": [701, 709]}, {"key": "development-agreement", "type": "clause", "offset": [715, 736]}, {"key": "in-good-faith", "type": "definition", "offset": [737, 750]}, {"key": "period-of", "type": "definition", "offset": [757, 766]}, {"key": "in-writing", "type": "clause", "offset": [838, 848]}, {"key": "compensation-payable", "type": "clause", "offset": [968, 988]}, {"key": "in-consideration-of", "type": "clause", "offset": [995, 1014]}, {"key": "additional-development-work", "type": "clause", "offset": [1025, 1052]}, {"key": "costs-incurred", "type": "definition", "offset": [1060, 1074]}, {"key": "development-of-the", "type": "clause", "offset": [1086, 1104]}], "hash": "8fc6ea523de6ae667ad340f53885f104", "id": 6}, {"snippet": "On a Pieris Designated CoDev Collaboration Product-by-Pieris Designated CoDev Collaboration Product basis, within [***] after the written acknowledgement by the Parties that [***] has been achieved (the \u201cConsideration Period\u201d), Pieris shall have (and Servier hereby grants to Pieris as of the Effective Date) the exclusive option (exercisable in Pieris\u2019 sole discretion) to opt into global co-Development and Commercialization of each such Pieris Designated CoDev Collaboration Product(s) (each a \u201cPieris Co-Development Option\u201d). The Parties shall use Commercially Reasonable Efforts to agree as to the updated Collaboration Plan and associated Collaboration Budget contemplated by Section 3.1.2.(b) for such Pieris Designated CoDev Collaboration Product [***] prior to the anticipated achievement of [***]. In order to exercise its option under this Section 3.1.4, Pieris shall provide Servier written notice stating its desire to opt-in with respect to the applicable Pieris Designated CoDev Collaboration Product (such notice, the \u201cOpt-In Notice\u201d) within the Consideration Period.", "size": 2, "samples": [{"hash": "eq5ER0Oz68j", "uri": "/contracts/eq5ER0Oz68j#co-development-option", "label": "License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.)", "score": 28.241615332, "published": true}], "snippet_links": [{"key": "collaboration-product", "type": "definition", "offset": [29, 50]}, {"key": "acknowledgement-by-the-parties", "type": "clause", "offset": [138, 168]}, {"key": "consideration-period", "type": "definition", "offset": [204, 224]}, {"key": "as-of-the-effective-date", "type": "clause", "offset": [283, 307]}, {"key": "exclusive-option", "type": "definition", "offset": [313, 329]}, {"key": "sole-discretion", "type": "clause", "offset": [354, 369]}, {"key": "development-and-commercialization", "type": "clause", "offset": [393, 426]}, {"key": "development-option", "type": "clause", "offset": [508, 526]}, {"key": "the-parties-shall", "type": "clause", "offset": [530, 547]}, {"key": "use-commercially-reasonable-efforts", "type": "clause", "offset": [548, 583]}, {"key": "collaboration-plan", "type": "clause", "offset": [611, 629]}, {"key": "collaboration-budget", "type": "clause", "offset": [645, 665]}, {"key": "prior-to-the", "type": "clause", "offset": [761, 773]}, {"key": "to-exercise", "type": "clause", "offset": [817, 828]}, {"key": "written-notice", "type": "definition", "offset": [895, 909]}, {"key": "with-respect-to", "type": "clause", "offset": [939, 954]}, {"key": "the-applicable", "type": "clause", "offset": [955, 969]}, {"key": "in-notice", "type": "clause", "offset": [1039, 1048]}, {"key": "the-consideration", "type": "clause", "offset": [1058, 1075]}], "hash": "8fa3646aad6fec3c7794a0b9a231cdd8", "id": 7}, {"snippet": "In accordance with Section 2.4, [***]. Following the [***], each Party shall have a co-exclusive right during the Term hereof [***]. Within [***], and upon each anniversary thereafter, each Party shall provide the other Party with a written report describing the status, total costs incurred to date and any patent applications filed with respect to such Party\u2019s [***]. In addition, each Party shall provide the other Party at least [***] prior written notice of any [***] for each [***], which notice shall include [***] (an \u201cOpt-In Notice\u201d). The Party receiving the Opt-In Notice (the \u201cReceiving Party\u201d) shall have a right exercisable upon written notice to the Party sending such Opt-In Notice (the \u201cDeveloping Party\u201d) within [***] following receipt of such Opt-In Notice to opt into a [***] co-development and co-funding program for such [***] (an \u201cOpt-In Right\u201d). If the Receiving Party elects to exercise the Opt-In Right, the Parties shall negotiate in good faith a Co-Development Agreement on commercially reasonable, industry standard terms. Such Co-Development Agreement shall include: (a) a requirement that the Receiving Party reimburse the Developing Party for fifty percent [***] of the Developing Party\u2019s costs incurred for such [***]; (b) provisions stipulating that the Developing Party shall have [***]; and (c) a decision-making mechanism that includes (i) a joint steering committee made up of equal numbers of representatives from each Party, (ii) a dispute resolution process providing for escalation of disputes to each Party\u2019s Chief Executive Officer, with the Chief Executive Officer of the Developing Party with third party alternative dispute resolution having the final decision to resolve any deadlocks. If the Receiving Party does not exercise its Opt-In Right within the [***] period, then the Opt-in Right shall expire and the Developing Party shall have the sole right to [***] without any involvement from the Receiving Party; provided that if the Developing Party does not [***] within [***] after the Opt-In Right expires, then the Opt-in Right shall be reinstated on the terms provided herein prior to the [***] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. date that the Developing Party does [***] for [***]; and provided further that if [***] and [***], then SG shall [***] and the [***]. Notwithstanding anything to the contrary in this Agreement, [***].", "size": 1, "samples": [{"hash": "r9MaA3Tid4", "uri": "/contracts/r9MaA3Tid4#co-development-option", "label": "License Agreement (Seattle Genetics Inc /Wa)", "score": 21.0, "published": true}], "snippet_links": [{"key": "in-accordance-with", "type": "definition", "offset": [0, 18]}, {"key": "section-24", "type": "clause", "offset": [19, 30]}, {"key": "following-the", "type": "definition", "offset": [39, 52]}, {"key": "each-party", "type": "clause", "offset": [60, 70]}, {"key": "exclusive-right", "type": "clause", "offset": [87, 102]}, {"key": "during-the-term", "type": "clause", "offset": [103, 118]}, {"key": "provide-the", "type": "clause", "offset": [202, 213]}, {"key": "other-party", "type": "definition", "offset": [214, 225]}, {"key": "written-report", "type": "definition", "offset": [233, 247]}, {"key": "costs-incurred-to-date", "type": "definition", "offset": [277, 299]}, {"key": "patent-applications", "type": "definition", "offset": [308, 327]}, {"key": "with-respect-to", "type": "clause", "offset": [334, 349]}, {"key": "such-party", "type": "clause", "offset": [350, 360]}, {"key": "in-addition", "type": "clause", "offset": [370, 381]}, {"key": "notice-of-any", "type": "clause", "offset": [453, 466]}, {"key": "in-notice", "type": "clause", "offset": [531, 540]}, {"key": "the-party", "type": "clause", "offset": [544, 553]}, {"key": "notice-to-the", "type": "clause", "offset": [650, 663]}, {"key": "developing-party", "type": "definition", "offset": [703, 719]}, {"key": "receipt-of", "type": "clause", "offset": [745, 755]}, {"key": "funding-program", "type": "clause", "offset": [817, 832]}, {"key": "the-receiving-party", "type": "definition", "offset": [872, 891]}, {"key": "to-exercise", "type": "clause", "offset": [899, 910]}, {"key": "the-parties-shall", "type": "clause", "offset": [929, 946]}, {"key": "negotiate-in-good-faith", "type": "definition", "offset": [947, 970]}, {"key": "development-agreement", "type": "clause", "offset": [976, 997]}, {"key": "commercially-reasonable", "type": "clause", "offset": [1001, 1024]}, {"key": "standard-terms", "type": "clause", "offset": [1035, 1049]}, {"key": "fifty-percent", "type": "definition", "offset": [1174, 1187]}, {"key": "joint-steering-committee", "type": "clause", "offset": [1378, 1402]}, {"key": "dispute-resolution-process", "type": "clause", "offset": [1471, 1497]}, {"key": "escalation-of-disputes", "type": "clause", "offset": [1512, 1534]}, {"key": "the-chief-executive-officer", "type": "clause", "offset": [1581, 1608]}, {"key": "third-party", "type": "clause", "offset": [1638, 1649]}, {"key": "alternative-dispute-resolution", "type": "definition", "offset": [1650, 1680]}, {"key": "final-decision", "type": "definition", "offset": [1692, 1706]}, {"key": "right-to", "type": "definition", "offset": [1896, 1904]}, {"key": "provided-that", "type": "clause", "offset": [1961, 1974]}, {"key": "the-terms", "type": "definition", "offset": [2104, 2113]}, {"key": "prior-to-the", "type": "clause", "offset": [2130, 2142]}, {"key": "information-on", "type": "clause", "offset": [2157, 2171]}, {"key": "omitted-and-filed-separately-with-the-securities-and-exchange-commission", "type": "clause", "offset": [2191, 2263]}, {"key": "confidential-treatment", "type": "definition", "offset": [2265, 2287]}, {"key": "notwithstanding-anything-to-the-contrary", "type": "clause", "offset": [2479, 2519]}, {"key": "in-this-agreement", "type": "clause", "offset": [2520, 2537]}], "hash": "a7a070ffead1b951285f5ce8222b0f9c", "id": 9}, {"snippet": "(a) Concurrently with the decision to prepare for filing with the FDA of the first IND for a Selected Compound or Product, P&G will provide Curis with a projected plan and budget for clinical development of such Selected Compound or Product for the United States through the end of Phase 2B Trials (the \u201cDevelopment Plan and Budget\u201d). Curis may, in its sole discretion and upon written notice to P&G within 90 days after receipt of the Development Plan and Budget elect to co-fund Co-Development Expense with a participation level of either 20% of such costs (a \u201cLower Level\u201d) or 50% of such costs (a \u201cShared Level\u201d). If Curis elects to co-fund development costs for such Selected Compound or Product, either at the Lower Level or the Shared Level, then the First Phase 1 Milestone Payment and the First Phase 2B Milestone Payment shall not be payable by P&G with respect to such Selected Compound or Product. P&G shall calculate Co-Development Expense in accordance with U.S. generally accepted accounting principles, consistently applied, and consistent with generally accepted methods for activity-based project costing for similar products in the pharmaceutical industry. P&G shall invoice Curis on a quarterly basis for Curis\u2019 portion of Co-Development Expense based upon the level that Curis has chosen to fund. Each such invoice shall be itemized and shall be due within 30 days of receipt by Curis.\n(b) On a Selected Compound-by-Selected Compound or Product-by-Product basis, Curis shall have the right to terminate its obligation to share Co-Development Expense at the Lower Level or the Shared Level, as applicable, for a Selected Compound or Product at any time. Curis\u2019 decision to terminate such sharing of Co-Development Expense with respect to a Selected Compound or Product will have no effect on Curis\u2019 right to share Co-Development Expense (or continue to share Co-Development Expense) with respect to any other Selected Compound or Product. Effective upon P&G\u2019s receipt of written notice from Curis that Curis has elected to terminate sharing of Co-Development Expense with respect to a Selected Compound or Product, Curis\u2019 obligation to share Co-Development Expense with respect thereto shall cease, and P&G\u2019s milestone and royalty payment obligations under Sections 6.4, 6.5 and/or 6.6, as applicable, shall be applicable 90 days from the date of such termination of co-development activities. For purposes of clarification, no milestone payments under Section 6.4 will be due for milestones that occurred prior to 90 days from the termination of co-development activities, but milestone and royalty payments shall be payable on a going-forward basis after such termination.", "size": 1, "samples": [{"hash": "9B0dYnsdH80", "uri": "/contracts/9B0dYnsdH80#co-development-option", "label": "Collaboration, Research and License Agreement (Curis Inc)", "score": 21.0, "published": true}], "snippet_links": [{"key": "the-decision", "type": "clause", "offset": [22, 34]}, {"key": "the-fda", "type": "clause", "offset": [62, 69]}, {"key": "selected-compound", "type": "definition", "offset": [93, 110]}, {"key": "will-provide", "type": "clause", "offset": [127, 139]}, {"key": "development-of", "type": "clause", "offset": [192, 206]}, {"key": "for-the-united-states", "type": "clause", "offset": [241, 262]}, {"key": "phase-2b", "type": "definition", "offset": [282, 290]}, {"key": "development-plan-and-budget", "type": "definition", "offset": [304, 331]}, {"key": "sole-discretion", "type": "clause", "offset": [353, 368]}, {"key": "notice-to", "type": "definition", "offset": [386, 395]}, {"key": "after-receipt-of", "type": "clause", "offset": [415, 431]}, {"key": "the-development-plan", "type": "clause", "offset": [432, 452]}, {"key": "development-expense", "type": "definition", "offset": [484, 503]}, {"key": "participation-level", "type": "definition", "offset": [511, 530]}, {"key": "lower-level", "type": "clause", "offset": [563, 574]}, {"key": "development-costs", "type": "definition", "offset": [645, 662]}, {"key": "the-shared", "type": "clause", "offset": [731, 741]}, {"key": "phase-1", "type": "clause", "offset": [764, 771]}, {"key": "with-respect-to", "type": "clause", "offset": [859, 874]}, {"key": "in-accordance-with", "type": "definition", "offset": [953, 971]}, {"key": "generally-accepted-accounting-principles", "type": "definition", "offset": [977, 1017]}, {"key": "consistently-applied", "type": "definition", "offset": [1019, 1039]}, {"key": "consistent-with", "type": "clause", "offset": [1045, 1060]}, {"key": "similar-products", "type": "clause", "offset": [1127, 1143]}, {"key": "on-a-quarterly-basis", "type": "definition", "offset": [1200, 1220]}, {"key": "to-fund", "type": "definition", "offset": [1309, 1316]}, {"key": "days-of-receipt", "type": "clause", "offset": [1381, 1396]}, {"key": "by-curis", "type": "clause", "offset": [1397, 1405]}, {"key": "right-to-terminate", "type": "clause", "offset": [1505, 1523]}, {"key": "obligation-to", "type": "clause", "offset": [1528, 1541]}, {"key": "at-any-time", "type": "clause", "offset": [1661, 1672]}, {"key": "no-effect", "type": "definition", "offset": [1799, 1808]}, {"key": "right-to-share", "type": "clause", "offset": [1819, 1833]}, {"key": "effective-upon", "type": "clause", "offset": [1959, 1973]}, {"key": "receipt-of-written-notice", "type": "definition", "offset": [1980, 2005]}, {"key": "royalty-payment-obligations", "type": "clause", "offset": [2243, 2270]}, {"key": "date-of", "type": "clause", "offset": [2359, 2366]}, {"key": "termination-of", "type": "definition", "offset": [2372, 2386]}, {"key": "development-activities", "type": "clause", "offset": [2390, 2412]}, {"key": "for-purposes-of-clarification", "type": "clause", "offset": [2414, 2443]}, {"key": "section-64", "type": "clause", "offset": [2473, 2484]}, {"key": "prior-to", "type": "definition", "offset": [2526, 2534]}, {"key": "the-termination", "type": "clause", "offset": [2548, 2563]}, {"key": "payments-shall-be", "type": "clause", "offset": [2620, 2637]}], "hash": "e4669f771600ae72d9f78790f61094bf", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih5jby1kZXZlbG9wbWVudC1vcHRpb24jMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["development-of-products", "Development of Products"], ["financial-provisions", "FINANCIAL PROVISIONS"], ["royalties", "Royalties"], ["royalty-adjustments", "Royalty Adjustments"], ["option-grant", "Option Grant"]], "size": 30, "title": "Co-Development Option", "children": [["responsibility-for-development", "Responsibility for Development"], ["procedure-for-exercise-of-option", "Procedure for Exercise of Option"], ["reimbursement-of-development-costs", "Reimbursement of Development Costs"], ["co-development-option-exercise-fee", "Co-Development Option Exercise Fee"], ["records-audit-rights", "Records; Audit Rights"]], "id": "co-development-option", "related": [["development-program", "Development Program", "Development Program"], ["commercialization-plan", "Commercialization Plan", "Commercialization Plan"], ["development-phase", "Development Phase", "Development Phase"], ["development-plan", "Development Plan", "Development Plan"], ["career-development", "Career Development", "Career Development"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": ["What are the key triggers and timelines for exercising the co-development option?", "How can the scope and allocation of IP rights be strategically negotiated in this clause?", "What are the most common drafting pitfalls that could undermine enforceability?", "How does this co-development option compare to industry standards or similar agreements?", "What are the main risks if one party fails to perform, and how can remedies be strengthened?"], "drafting_tip": "Specify the co-development process and decision-making authority to prevent disputes; define each party\u2019s contributions to clarify obligations; set clear timelines to ensure project progress.", "explanation": "The Co-Development Option clause grants one or more parties the right to participate jointly in the development of a product, technology, or project. In practice, this clause typically outlines the conditions under which a party may elect to co-develop, such as timelines for exercising the option, the scope of joint activities, and the allocation of costs and responsibilities. By establishing a clear framework for collaboration, the clause facilitates shared investment and risk, ensuring that all parties understand their rights and obligations if they choose to pursue co-development."}, "json": true, "cursor": ""}}