Modulator Target Nomination Clause Samples

Modulator Target Nomination. Genentech has the right to select, in its sole discretion, a total of up to four (4) Modulator Targets as Collaboration Targets under this Agreement, in each case, as set forth in the remainder of this Section 3.1.1. (a) As of the Effective Date, Genentech has selected the two (2) Initial Collaboration Targets to be included as the subject of initial Discovery Research Activities under this Agreement. (b) Subject to this ARTICLE 3, including Genentech’s substitution and exchange rights hereunder, during the Expansion Option Period, Genentech has the right to select, in its sole discretion, a total of up to two (2) additional Modulator Targets as Collaboration Targets to be the subject of initial Discovery Research Activities under this Agreement, and potential Development and Commercialization of Discovery Constructs and Licensed Products incorporating such Discovery Constructs (each, an “Expansion Option”). Genentech may exercise each Expansion Option by (i) selecting such additional Modulator Targets from the list of Genentech Reserved Targets, or (ii) nominating any other Modulator Target pursuant to Section 3.1.3, provided that if such Nominated Target is an Unavailable Target, such Expansion Option shall not be deemed exercised. (c) Notwithstanding Section 3.1.1(b), (i) if Genentech does not exercise an Expansion Option within [***], all Expansion Options will expire, and Genentech shall thereafter have no further right to nominate any additional Collaboration Targets to be the subject of Discovery Research Activities under this Agreement. For clarity, the total number of Genentech Reserved Targets prior to Genentech’s exercise of any Expansion Option may not exceed two (2). Genentech shall be deemed to have timely exercised its Expansion Option(s) if Genentech has delivered the Target Nomination Notice within the applicable time period specified in this Section 3.1.1(c), even if BicycleTx delivers the Target Availability Notice only after the expiry of such time period. For clarity, if Genentech has timely exercised an Expansion Option and BicycleTx indicates in the Target Availability Notice that the Modulator Target requested by Genentech in such Target Nomination Notice is an Unavailable Target, then Genentech may, within [***] after receipt of such Target Availability Notice, deliver a subsequent Target Nomination Notice for a different Modulator Target, even if such subsequent Target Nomination Notice is delivered after the expiry of the applica...