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Biotech / Medical : Tularik Inc. (TLRK)
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To: keokalani'nui who wrote (568)3/5/2004 4:53:01 PM
From: keokalani'nui  Read Replies (1) of 598
 
Don't recall this, not that it is a high investor priority. 10k is out.

We have been notified that Japan Tobacco will terminate the research support for this collaboration on May 31, 2004. The parties are negotiating revised terms for a research collaboration of reduced scope that includes several of the targets being pursued by the existing collaboration. Our ability to successfully complete this negotiation is uncertain. The development portion of the collaboration will continue irrespective of the results of this negotiation. Each party may elect to terminate its co-development obligations with respect to, and profit sharing interest in, a given collaboration product upon prior written notice to the other party. In such case, the other party may continue to develop and commercialize such product at its expense, subject to an obligation to pay a royalty on sales of such product to the party that terminated its co-development and co-promotion of such product. Either party may terminate the agreement at any time upon a material breach by the other party of its obligations under the agreement. Japan Tobacco and we have agreed not to conduct research on targets that are the subject of the collaboration, or develop compounds against these targets, independently or with any commercial third party, prior to the termination of the collaboration. Following termination of the collaboration, Japan Tobacco and we will jointly own rights in intellectual property relating to compounds created during the collaboration. The parties have agreed to maintain the confidentiality of information produced during the collaboration.
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