Common use of Licensed Compounds Clause in Contracts

Licensed Compounds. For a period of [***] after selection of a Candidate Compound, Sankyo shall have the right to conduct more extensive preclinical development and evaluation of such Candidate Compound as a clinical candidate, and to determine in its sole discretion whether such Candidate Compound should be deemed a Licensed Compound in accordance with the provisions of this Agreement. If, at any time within such [***] period, Sankyo determines in its sole discretion that such Candidate Compound should be deemed a Licensed Compound, Sankyo shall provide written notice thereof to MTI. Thereafter, such Candidate Compound shall be a Licensed Compound for all purposes under this Agreement. Licensed Compounds shall also include any Research Compound that Sankyo determines meets the Recommended Compound Criteria, Recommended Compound and/or Candidate Compound which Sankyo may further develop following the termination or expiration of the Research Program Term in accordance with Sections 6.1.1, 14.2 and 14.3 and which Sankyo may determine, in its sole discretion, to deem as a Licensed Compound pursuant to this Section 4.4.