Common use of Global Development Plan Clause in Contracts

Global Development Plan. Within sixty (60) days after the Effective Date, the Joint Steering Committee shall adopt a written plan for development of Licensed Products up until the completion of Phase I Clinical Trials in the Field globally in a collaborative manner (which shall be attached hereto as Exhibit 1.28), which shall include, but not be limited to (i) the indication(s) to be developed, (ii) the proposed global development activities and allocation thereof between the Parties, (iii) the timeline and budget, (iv) manufacturing process development, (v) clinical supply arrangement, and (vi) the Phase I clinical activities and such other matters that the Parties may want to include (the “Global Development Plan”). Either Party may propose to the Joint Steering Committee and the other Party, revisions to the Global Development Plan, with supporting evidence, such as technical, clinical or regulatory reasons that underline the proposed revisions. The Joint Steering Committee may amend the Global Development Plan from time to time after the Effective Date, pursuant to the decision making mechanism as set forth in Section 3.4.2.