Indication. There shall be no milestone payments for any indication past the second indication for a given Licensed Compound. In the event that a milestone event is achieved that triggers a development milestone payment as set forth above, if the preceding milestone events have not occurred such that the previous development milestone payments have not been previously paid, all such previous development milestone payments shall become due and payable upon achievement of such milestone event. For example, if a Phase 3 Trial is started that triggers a development milestone payment as set forth above without a Phase 2 Trial supporting such Phase 3 Trial being previously started (and consequently the applicable start of Phase 2 Trial milestone payment has not been previously paid to BMS), in addition to the milestone payment for the start of the Phase 3 Trial, Elixir shall also pay to BMS the applicable milestone payment for the start of a Phase 2 Trial. * Confidential Treatment Requested
Appears in 3 contracts
Sources: License Agreement, License Agreement (Elixir Pharmaceuticals, Inc.), License Agreement (Elixir Pharmaceuticals, Inc.)