Ligand Trap definition
Examples of Ligand Trap in a sentence
After expiration of the Royalty Term, Novo Nordisk shall have a perpetual, fully paid up, non-exclusive license to the Keros Background IP and Keros New Ligand Trap IP related to the Selected Ligand Trap to Commercialize the Licensed Products, in each case within the Novo Nordisk Field and Territory.
The evaluation and characterization of each New Ligand Trap will be carried out by the Parties in accordance with the Research Plan.
If Keros fails or decides not to institute any such enforcement action of the Keros Background Patents and Keros New Ligand Trap IP (other than the Declined Ligand Traps-Specific Patents) relevant for the Novo Nordisk Field within [***] of becoming first aware of any such infringement, misappropriation, or misuse, Novo Nordisk shall have the right, but not the obligation, to institute, at its sole cost and expense, such an enforcement action.
The JSC shall review and update the Research Plan on regular basis in accordance with Section 2.8. In furtherance of the JSC’s efforts to review and update the Research Plan during the Collaboration Term, Keros shall keep the JSC informed and updated regarding research and development activities for each New Ligand Trap.
All work conducted for each New Ligand Trap shall be documented in a format capable of tangible reproduction sufficient to enable such documented work to be offered as evidence, such as in a laboratory notebook, signed and dated, or other acceptable form.
A Party may disclose the other Party’s Confidential Information to the extent such disclosure is necessary for the Prosecution and Maintenance of any patent application or patent on Novo Nordisk Inventions, Keros New Ligand Trap Inventions or Collaboration Inventions, subject to the provisions of Section 6.2.
Keros shall provide Novo Nordisk with reasonable assistance to enable Novo Nordisk to implement the Keros Background Know-How, Keros New Ligand Trap IP and Keros’ interest in the Collaboration IP for [***] days following such transfer date.
For the avoidance of doubt, after the designation of a Ligand Trap as a Declined Ligand Trap, payments made by Novo Nordisk as set forth in Section 3.2 shall only be used for the Research Collaboration and not for work on Declined Ligand Traps and the personnel costs attributable to efforts spent by Keros personnel on Declined Ligand Traps shall not be allocated against the R&D Collaboration Budget Funding.
Subject to the licenses granted under Section 5.1, as between the Parties, Keros shall own all right, title and interest in Keros New Ligand Trap IP.
For clarity, notwithstanding the foregoing, a Keros Affiliate may, directly or through its Affiliates (other than Keros), Develop and Commercialize in all fields—without the use or reference to Keros Background IP, Collaboration IP or Keros New Ligand Trap IP—those Ligand Traps or Ligand Binders that were being Developed by a Third Party as of the date such Third Party becomes a Keros Affiliate—as the Third Party and/or Keros can by written documentation demonstrate—pursuant to Section 14.3(b).