Common use of Phase III Clause in Contracts

Phase III. Within thirty (30) days following the date on which Celltech first administers any Licensed Product to a human subject in a Phase III Clinical Trial on a Licensed Product, Celltech shall pay NeoGenesis [*]. "Phase III Clinical Trial" shall mean any clinical study in any Major Country of a Licensed Product, the primary purpose of which is evaluating statistical significance of the safety and efficacy of the Licensed Product in patients with the disease target being studied as required by the relevant Regulatory Authority to evaluate the overall benefit-risk relationship of the drug and to provide an adequate basis for physician labeling.