Phase 3 Program definition
Examples of Phase 3 Program in a sentence
As between Principia and Sanofi, Sanofi will have the sole right to (a) create and amend the Phase 3 Program Plan, and (b) conduct the Phase 3 Program.
Subject to the other terms of this Section 3 of this Exhibit K-1, all Development activities under the Phase 3 Program shall be conducted in conformance with the Phase 3 Program Plan for the applicable Optioned Product as provided by Sanofi to Principia in connection its exercise of the Co-Funding Option pursuant to Section 5.6 of this Agreement (as may be amended from time to time by Sanofi).
Akebia further agrees to permit its books and records to be examined by an independent accounting firm selected by Licensee to verify the accuracy of Development costs for the Global Phase 3 Program and COGS.
Within [*]days after the end of each Calendar Quarter, Sanofi will report to Principia the actual Development Costs for the Phase 3 Program incurred by Sanofi during such Calendar Quarter (each, a “Quarterly Report”) and issue an invoice to Principia for the share of such Development Costs due from Principia in accordance with Section 2.1 of this Exhibit K-1.
About the Fovista® Phase 3 Program The Fovista® Phase 3 program consists of three clinical trials to evaluate the safety and efficacy of Fovista® (anti-PDGF) therapy, which Ophthotech is developing for use in combination with anti- VEGF drugs for the treatment of wet age-related macular degeneration.
The Co-Funding Executives will meet at least once per Calendar Year, or more often as may be agreed by the Parties, to discuss the Phase 3 Program Plan, including the associated budget, and any material updates or amendments thereto and, solely if the Profit (Loss) Share is in effect, the U.S. Commercial Plan, as applicable.
Sanofi will provide Principia with an updated version of the Initial Phase 3 Program Plan for the Optioned Product and each updated version thereof, on a semi-annual basis commencing with the date of the Exercise Notice, as well as any other Indications under Development by, or under contemplation for Development by, Sanofi with respect to the Optioned Product and the progress and results of such Development.
Except as provided in Section 2.2.1 of this Exhibit K-1, Section 11.1(b) of this Agreement will apply in the event of any dispute regarding the calculation or reporting or breach of payment of Development Costs for the Phase 3 Program.
In exchange for, and as a condition to, receiving the Co-Funding Compensation, Principia will be responsible for payment to Sanofi of [*] of all Development Costs incurred with respect to the Phase 3 Program, subject to the caps set forth in Section 2.5 of this Exhibit K-1 (such capped [*] amount, the “Co-Development Funding”).
With respect to each Calendar Quarter during which Principia is or becomes a Reporting Company, within [*] days after the end of each Calendar Quarter, unless not practicable, Sanofi shall provide a good faith estimate of its Development Costs for the Phase 3 Program in the form of a written report [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.