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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (9465)	11/12/2003 10:27:38 AM
From: Biomaven	Read Replies (1) \| Respond to of 52153

3.4 Compound Selection. ------------------ 3.4.1 Cortex Compounds. At the commencement of the Research Phase, ---------------- Cortex will promptly provide to the Scientific Committee details of the chemical structure and properties for all Ampakines for which Cortex then has the right to grant the licenses herein to Servier (the "Cortex Compounds"). The Scientific Committee shall review the Cortex Compounds within [] days of commencement of the Research Phase in order to retain certain of them for further evaluation as a Lead Compound. During the term of the Research Phase, Cortex may evaluate such additional compounds as to which it has the right to grant the licenses herein to Servier to determine if such compounds would be useful in the Field. If Cortex determines that such compounds may be more useful in the Field than the previously selected Cortex Compounds, it shall so inform the Scientific Committee, and Servier. The Scientific Committee may, at its discretion, substitute one or several of such new compounds for one or several of the CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH COMMISSION 7 existing designated Cortex Compounds, in which case such replaced compound shall become available to Cortex for development or commercialization by it or a Third Party in accordance with Article 3.4.4. Cortex will keep these designated Cortex Compounds available to Servier for selection as a Lead Compound for a period of [] months from the date it has informed Servier of the existence of such Cortex Compounds, and shall not, during such period, grant to any Third Party rights to develop and commercialize such compounds. Servier may select, by notice in writing to Cortex, such designated Cortex Compounds as Lead Compounds. At the end of the [] month period, any Cortex Compound not selected as a Lead Compound shall become available to Cortex for development and commercialization by it or a Third Party. <continued on next post again - sigh>