Commercialization Option. Subject to the fulfillment by Biogen of its obligations under this Agreement, Ontogeny hereby grants to Biogen an option to initiate one or more Development Programs (the "Option"). Such Option is exercisable by Biogen at any time prior to the termination of the Research Phase upon prior written notice to Ontogeny; provided, however, that in the event that Biogen terminates this Agreement on or prior to July 1, 2000 or does not initiate at least one Development Program on or prior to July 1, 2000, (i) the Option shall terminate and (ii) Biogen shall pay the Break Up Fee set forth in Section 4.5 below. Such notice shall indicate the Ontogeny Hedgehog Protein that is the subject of the Development Program that is to be initiated. In the event that Biogen initiates more than one Development Program in the exercise of the Option, Biogen shall provide Ontogeny with written notification of each Ontogeny Hedgehog Protein that is to be the subject of a Development Program, and Confidential materials omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions. shall, on or before the end of the Research Phase, designate a Lead Protein. Biogen may change its Lead Protein at any time by providing written notification to Ontogeny, provided that no such change shall occur after the first extension, if any, requested under Section 6.2(l), and no such change shall affect the timeframes set forth in Section 6.2 with respect to diligence obligations.
Commercialization Option. Novartis has the exclusive right (the "Commercialization Option") during the Option Term to license exclusively any and all IMO Candidates, including, without limitation, IMO Leads, for commercialization of Products in the Commercial Field of Use, under the terms and conditions set forth in the License Agreement.
Commercialization Option. 6.1 From the Effective Date until [*] after the occurrence of the Second Phase II Milestone Purchase (the "Option Period"), Developer shall grant EPIL an exclusive option (the "Licence Option") to conclude an exclusive, sub-licensable sub-licence and supply agreement whereby Developer would grant EPIL a sub-licence to the Developer Patents, the Developer Know-How and the Developer Improvements to import, make, use, offer for sale, and sell the Compounds and/or Products in the Territory in the Field on terms to be agreed in good faith on the basis of the [*] heads of agreement set out in Schedule 2 (the "EPIL Sub-Licence").
Commercialization Option. (a) Before expiration of the Option Period, BioLife shall have the right, subject to the requirements set forth below, to convert this Agreement into an exclusive channel collaboration agreement and thereby become Intrexon’s exclusive channel collaborator in the Field. In partial consideration for BioLife’s appointment as an exclusive channel collaborator and the other rights granted to BioLife hereunder, BioLife shall pay to Intrexon a technology Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission. access fee (the “Technology Access Fee”) with a value equal to the greater of (i) the Fair Market Value of fifteen percent (15%) of the fully-diluted equity of BioLife, as calculated using the treasury stock method in accordance with US GAAP, as of the date of exercise of the option, or (ii) Six Million Seven Hundred Fifty Thousand Dollars ($6,750,000).
Commercialization Option. Upon exercise by Sucampo of a Commercialization Option, the Parties shall negotiate in good faith to agree on a development plan and execute a Commercialization Agreement for the applicable Compound. The development plan shall be drafted by Sucampo and be subject to Numab’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Sucampo may elect to extend the Commercialization Option Period for any Discovery Project for up to three (3) one-year periods upon payment of an extension fee of […***…] for each such one (1) year extension.
Commercialization Option. Astellas hereby grants to Vical an exclusive option to co-promote and/or collaborate in medical affairs activities with respect to Products in the Field in the Territory (the “Option”). Vical may exercise the Option by providing written notice to Astellas no later than […***…] ([…***…]) days after Astellas provides written notice to Vical of […***…]. For clarification, Vical shall in no event be obligated to make any payment to Astellas in connection with exercising the Option. Upon timely exercise by Vical of the Option, the parties shall engage in good faith negotiations to conclude a separate written agreement within […***…] ([…***…]) days after exercise of the Option (or such longer period as agreed by the parties), which agreement would provide for mutually agreeable terms pursuant to which Vical would co-promote and/or collaborate in medical affairs activities with respect to Products in the Field in the Territory in accordance with the Commercialization Plan and would provide for Astellas […***…], provided, however, that Vical’s activities thereunder shall not exceed […***…] percent ([…***…]%) of the total activities of the parties in each of the co-promotion and the medical affairs. Notwithstanding the exercise of the Option or the execution of an agreement as set forth in the immediately preceding sentence, Astellas shall at all times remain obligated to pay the applicable amounts specified under Article 5 with respect to Products.