Discovery Milestone definition
Examples of Discovery Milestone in a sentence
The Discovery Milestone will be paid a maximum of four (4) times, once for each of the four (4) Programs, upon the first achievement of such Milestone Event for each Program, and will not be paid again for the Initial Collaboration Targets in the event that either or both such Initial Collaboration Targets are substituted with other Targets pursuant to Section 3.2.
The [...***...] Milestone Event shall occur upon [...***...] that the Discovery Milestone has been met.
All Program Molecules against each Collaboration Target will be separately identified and recorded in Schedule 1.87 following payment of the applicable Lead Binder Discovery Milestone.
Within [***] following the earlier of (i) the achievement of Success Criteria for a Lead Binder, or (ii) Rayze selection of a Lead Binder against its respective Collaboration Target along with payment in full of the applicable Discovery Milestone in accordance with Section 5.2, Blaze shall transfer to Rayze all Data that has been developed on the Program Molecules identified against its respective Collaboration Target.
Notwithstanding Section 6.4 of the Agreement, there shall be no Discovery Milestone payment with respect to the Regulus Mir-122 Program, and instead the payment due upon the Regulus Mir-122 Program reaching Candidate Selection Stage shall be [***], payable within [***] days of receipt by GSK of an invoice sent from Regulus on or after the date of achievement of such Milestone Event.
Each such subsequent Project Plan must be on substantially the same form as the Initial Project Plans, including the form of the DC Criteria, and additional Discovery Milestone Criteria (if applicable) (the “Form Project Plan”).
For the avoidance of doubt, Discovery Milestone related to the selection of Lead Binder in accordance with Section 5.2 is payable, irrespective of whether ▇▇▇▇▇ decides it does not wish to pursue such Lead Binder which has achieved the Success Criteria.
To exercise such option, Celgene shall so notify Array in writing during the period such Discovery Milestone payment is due.
The Discovery Milestones shall be payable only once per Collaboration Target, regardless of how many Collaboration Products, Binding Peptides or Lead Binders achieve such Discovery Milestone event against the same Collaboration Target.
It is acknowledged between the Parties that certain Materials (other than Program Molecules and Lead Binders following payment of the appropriate Lead Binder Discovery Milestone set forth in Section 5.2 provided by Blaze to Rayze hereunder) may embody trade secrets of the providing Party and reverse engineering of such Materials shall be a material breach of this Agreement that may cause irreparable harm to the providing Party.