TPTX » Topics » 6.1 Due Diligence.

This excerpt taken from the TPTX 8-K filed Oct 10, 2006.
6.1          Due Diligence. Neurogenetics shall make all decisions relating to development and commercialization activities with respect to any Licensed Product or Additional Product in the Field; provided, however, that Neurogenetics shall exert commercially reasonable efforts consistent with business practices in the relevant market segment to carry out development of at least one Licensed Product or Additional Product so as to meet the requirements to gain marketing approval in the U.S. and, following Regulatory Approval, to sell at least one Licensed Product or Additional Product for at least one indication and shall be subject to the following diligence obligations with respect to Licensed Product and Additional Product:

 

(a)           Neurogenetics shall use commercially reasonable efforts to [***] within [***] ([***]) months of the Effective Date;

 

(b)           Neurogenetics shall use commercially reasonable efforts to [***]  within [***]  ([***]) years of the Effective Date; and

 

(c)           Neurogenetics shall use commercially reasonable efforts to [***] within [***] ([***]) after [***] of such[***], which [***] the [***] and was[***] to [***].

 

Neurogenetics shall report to LSRI regularly on the development and commercialization activities performed hereunder.

 

"6.1 Due Diligence." elsewhere:

Myriad Genetics (MYGN)
Neurogen (NRGN)
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