Common use of Development Milestone Clause in Contracts

Development Milestone. Upon Successful Completion of the first Phase III Clinical Trial for Product (the “Development Milestone Event”), Ovid shall pay to Lundbeck Ten Million Dollars (USD 10,000,000) (the “Development Milestone Amount”).

Appears in 2 contracts

Sources: License Agreement (Ovid Therapeutics Inc.), License Agreement (Ovid Therapeutics Inc.)