Development/Commercial Milestone Payments Clause Samples

Development/Commercial Milestone Payments. Subject to the remainder of this Section 4.3(a), Gemini will make the following development and commercial milestone payments to Sanquin following achievement of each milestone event by Gemini or any of its Affiliates or any sublicensee: Development & Commercial Milestone Event (in U.S. dollars) 1. First IND filing for a Licensed Product $ 200,000 2. First dosing in the first Phase 1 Study of a Licensed Product $ 350,000 3. First dosing in the first Phase 2 Study of a Licensed Product $ 450,000 4. First dosing in the first Phase 3 Study of a Licensed Product $ 1,000,000 5. First regulatory approval for sale in the U.S. of a Licensed Product $ 3,500,000 6. First regulatory approval for sale in the European Union or Japan of a Licensed Product $ 2,500,000 7. First regulatory approval for sale in the U.S., European Union or Japan of a Licensed Product for an additional indication (beyond the first indication) $ 3,000,000 8. First Calendar Year in which the cumulative aggregate Net Sales of all Licensed Products taken together on which Gemini paid a royalty exceed $100 million $ 3,000,000