Development Option definition

Development Option shall have the meaning set forth in Article 2.4.
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Development Option means ROCHE’s first option right to take back a Compound in the Field at the End of Phase IIb as set forth in Section 4.1.
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Development Option means a Party's option to pursue or abandon a Compound or Compound Series, once that Compound or Compound Series has been nominated or selected as a development candidate by a Party pursuant to the terms of this Agreement.
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Examples of Development Option in a sentence

  • In the event that Lilly does not exercise the Global Option for the Product within such Product’s Global Option Exercise Period, ▇▇▇▇▇▇▇▇▇ may, at its discretion, purchase the data produced by Lilly under the Development Option for an amount not to exceed Lilly’s incurred Development costs in developing the data.

  • Upon exercise of a Development Option for the Product, ▇▇▇▇▇▇▇▇▇ will, for the duration of the Global Option Exercise Period for such Product, ▇▇▇▇▇ ▇▇▇▇▇ a fully paid-up, non-exclusive limited license, without the right to sublicense, under ▇▇▇▇▇▇▇▇▇ Patents and the ▇▇▇▇▇▇▇▇▇ Know-How as of such time, without a right to Commercialize, to Develop such Product in the Field outside the Territory.

  • EVOTEC shall have the right to terminate this Agreement in its entirety or on a country-by-country or Product-by-Product basis at any time with six (6) months prior written notice, provided ROCHE has not exercised its Development Option or Commercialisation Option.

  • Upon exercising a Development Option, the Parties shall submit Research Reconciliation Reports pursuant to Section 9.2.

  • In the event that GSK subsequently updates the Development Plan and Budget to include studies targeting the ulcerative colitis Indication, GSK shall promptly notify ChemoCentryx of such update, and ChemoCentryx shall have an additional ninety (90) days within which to review and comment upon such updated Development Plan and Budget and exercise the CD/UC Development Option, at its discretion.

  • A Party may terminate its decision to proceed with a Joint Development Compound or Joint Development Compound/IV after exercising the Development Option provided that it supplies the other Party six (6) months notice of its decision to terminate its development efforts.

  • The Collaboration Management Team shall true up the Parties' spending contributions at the time either Party (or both Parties if joint development is selected) exercise a Development Option, upon termination of the Agreement or at the discretion of the CMT.

  • Upon exercise of the Co-Development Option, ChemoCentryx shall pay to GSK a one time cash payment equal to [***] percent ([***]%) of the GSK Incurred Costs for either the Crohn’s Disease Dossier Studies, or the Crohn’s Disease and Ulcerative Colitis Dossier Studies, depending on whether ChemoCentryx exercised the CD Development Option or the CD/UC Development Option.

  • When either Party (whether or not the Lead Developing Party) believes that a Compound or Compound Series is ready for final toxicology studies and suitable for development as a Joint Development Compound, such Party shall submit a written notice of Development Option and a written proposed Development Plan to the other Party and the Collaboration Management Team.

  • For Joint Development Compounds whose indications do not fall within Chiron Indications, PathoGenesis Indications or Joint Indications, the Parties shall mutually decide which Party will constitute the most advantageous and effective developing Party, or whether both Parties should jointly develop such Joint Development Compound, when exercising the Development Option.


More Definitions of Development Option

Development Option has the meaning set forth in Section 2.3(c) (Development Compounds).
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Development Option is defined in Section 5.1 below.
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Development Option shall have the meaning ascribed to it in Section 3.1 hereof.
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Development Option shall have the meaning as set forth in Section 4.1 of this Agreement.
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Development Option has the meaning set forth in Section 5.3(e).
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Development Option means Warner's right to elect to resume Development of IV ONYX-015, all as more particularly set forth in Section 3.4(a) hereof.
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Related to Development Option

  • Development Program means the implementation of the development plan.

  • Development Plan has the meaning set forth in Section 3.2.

  • Development rights means any right or combination of rights reserved by a declarant in the declaration to:

  • Development Phase means the period before a vehicle type is type approved.

  • Development Candidate means a Compound that meets the Development Candidate Criteria for the initiation of a Development Program for the treatment of CF, and which is the subject of a notice from Vertex to CFFT that Vertex intends to commence formal pre-clinical development of the Compound in the Field pursuant to the provisions of Section 3.1 hereof.