POC Study means a proof of concept Phase II Clinical Trial conducted with respect to a Licensed Product for the purpose of assessing the safety and efficacy of such Licensed Product for an Indication in the Clementia Field. [*****].
If, at Roches request, Pharmasset continues to hold the IND for a Product after completion of the POC Study, then Roche shall reimburse Pharmasset for its reasonable expenses incurred in connection with activities relating to holding the IND, including direct internal labor costs, which shall be reimbursed at a rate of $150 per hour.
The JSC will then select one (1) Compound from each project for progression to a POC Study (each a Program 4 Primary Compound).
GSK will have an exclusive option to obtain an exclusive worldwide license on the terms set forth in this Agreement to all of the DMD Program 3 Compounds from the selected project following the completion, by PROSENSA of all work up to the completion of the POC Study * * * * * for the Program 3 Primary Compounds.
The objective of each PROSENSA Collaboration Program is to (i) discover and Develop a Lead Compound for each Program for further Development under the terms of this Agreement and (ii) progress each Lead Compound to the completion of the POC Study.
The JSC will then select one (1) Compound from each project for progression to a POC Study (each a Program 3 Primary Compound).