Development Milestone. Initiation of first Clinical Study of the Licensed Asset or a Product in the Licensed Territory XENCOR may exercise its option in accordance with Section 9.2.1(a). [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] (a) At XENCOR’s option, to be elected by 30-days advance written notice to Licensee (the “Consideration Election Notice”), payment of either: [***].
Appears in 2 contracts
Sources: License Agreement (Zenas BioPharma, Inc.), License Agreement (Zenas BioPharma, Inc.)