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6.5 Records and Audits .............................................................................................................. 35 |
ARTICLE 7 UPFRONT FEE; MILESTONES AND ROYALTIES; PAYMENTS .................................. 35 |
7.1 Upfront Fee .......................................................................................................................... 35 |
7.2 Additional Target Program Fee ............................................................................................ 35 |
7.3 Collaboration Target Substitution Fee ................................................................................. 35 |
7.4 License Option Period Extension Fee .................................................................................. 37 |
7.5 License Option Exercise Fee ................................................................................................ 38 |
7.6 Development and Regulatory Milestone Payments ............................................................. 38 |
7.7 Sales-Based Milestone Payments ......................................................................................... 40 |
7.8 Royalties ............................................................................................................................... 41 |
7.9 Royalty Term ....................................................................................................................... 42 |
7.10 Royalty and Milestone Adjustments .................................................................................... 42 |
7.11 Estimated Sales Levels ......................................................................................................... 43 |
7.12 Reports; Payment of Royalty ............................................................................................... 44 |
7.13 Financial Records ................................................................................................................. 44 |
7.14 Audit; Audit Dispute. ........................................................................................................... 44 |
7.15 Methods of Payments; Offsets ............................................................................................. 44 |
7.16 Taxes .................................................................................................................................... 45 |
7.17 Late Payments ...................................................................................................................... 46 |
7.18 Financial Obligations under In-License Agreements ........................................................... 46 |
ARTICLE 8 EXCLUSIVITY; CHANGE OF CONTROL ......................................................................... 46 |
8.1 Exclusivity ........................................................................................................................... 46 |
8.2 Change of Control of Anima ................................................................................................ 51 |
ARTICLE 9 INTELLECTUAL PROPERTY RIGHTS ............................................................................. 52 |
9.1 Ownership of Intellectual Property; Disclosure ................................................................... 52 |
9.2 AbbVie Patents .................................................................................................................... 52 |
9.3 Patent Prosecution and Maintenance ................................................................................... 53 |
9.4 Enforcement of Licensed IP ................................................................................................. 54 |
9.5 Infringement Claims by Third Parties .................................................................................. 54 |
9.6 Invalidity or Unenforceability Defenses or Actions ............................................................ 55 |
9.7 Third Party Licenses ............................................................................................................ 55 |
9.8 Product Trademarks ............................................................................................................. 56 |
9.9 Inventor's Remuneration ...................................................................................................... 56 |
9.10 International Nonproprietary Name ..................................................................................... 56 |
ARTICLE 10 CONFIDENTIALITY .......................................................................................................... 56 |
10.1 Product Information ............................................................................................................. 56 |
10.2 Confidentiality Obligations .................................................................................................. 57 |
10.3 Permitted Disclosures........................................................................................................... 58 |
10.4 Use of Name ......................................................................................................................... 59 |
10.5 Public Announcements......................................................................................................... 59 |
10.6 Publications .......................................................................................................................... 60 |
10.7 Return of Confidential Information ..................................................................................... 60 |
10.8 Survival ................................................................................................................................ 60 |
ARTICLE 11 REPRESENTATIONS AND WARRANTIES .................................................................... 60 |
11.1 Representations and Warranties of Both Parties .................................................................. 60 |
11.2 Representations, Warranties, and Covenants, as applicable, of Anima ............................... 61 |
11.3 Compliance with Applicable Law ........................................................................................ 66 |
11.4 Additional Covenants of Anima ........................................................................................... 66 |
11.5 Anti-Bribery and Anti-Corruption Compliance ................................................................... 66 |
11.6 Disclaimer ............................................................................................................................ 66 |
ARTICLE 12 INDEMNIFICATION; INSURANCE ................................................................................. 66 |
12.1 Indemnification by AbbVie .................................................................................................. 66 |
12.2 Indemnification by Anima ................................................................................................... 67 |
12.3 Procedure ............................................................................................................................. 68 |
12.4 Insurance .............................................................................................................................. 69 |
12.5 Limitation of Liability .......................................................................................................... 70 |
ARTICLE 13 TERM AND TERMINATION ............................................................................................ 70 |
13.1 Term ..................................................................................................................................... 70 |
13.2 Termination .......................................................................................................................... 71 |
13.3 Modification in Lieu of Termination ................................................................................... 72 |
13.4 Effects of Termination ......................................................................................................... 73 |
13.5 Effects of Termination in Terminated Territory .................................................................. 74 |
13.6 Accrued Rights; Surviving Provisions of the Agreement .................................................... 74 |
ARTICLE 14 MISCELLANEOUS ............................................................................................................ 75 |
14.1 Governing Law; Service ...................................................................................................... 75 |
14.2 Dispute Resolution ............................................................................................................... 75 |
14.3 Assignment ........................................................................................................................... 76 |
14.4 Force Majeure ...................................................................................................................... 77 |
14.5 Notices ................................................................................................................................. 77 |
14.6 Export Clause ....................................................................................................................... 78 |
14.7 Waiver; Non-Exclusion of Remedies ................................................................................... 78 |
14.8 Further Assurance ................................................................................................................ 78 |
14.9 Severability .......................................................................................................................... 78 |
14.10 Equitable Relief .................................................................................................................... 79 |
14.11 Entire Agreement; Amendments .......................................................................................... 79 |
14.12 Relationship of the Parties ................................................................................................... 79 |
14.13 Headings; Construction; Interpretation ................................................................................ 80 |
14.14 Books and Records ............................................................................................................... 80 |
14.15 English Language ................................................................................................................. 80 |
14.16 Parties in Interest .................................................................................................................. 80 |
14.17 Counterparts ......................................................................................................................... 80 |
EXHIBITS AND SCHEDULES |
Exhibit A-1 Initial Collaboration Targets |
Exhibit A-2 Reserved Targets |
Exhibit B-1 Initial Collaboration Plan |
Exhibit B-2 Cost of Activities for Collaboration Plans |
Exhibit C-1 Success Criteria for Option Exercise Data Package Prior to Payment of License Option Period Extension Fee |
Exhibit C-2 Success Criteria for Option Exercise Data Package Following Payment of License Option Period Extension Fee |
Schedule 1.13 Existing Patents |
Schedule 1.72 Existing In-License Agreements |
Schedule 10.5 Public Announcement |
Schedule 11.2 Anima Disclosure Schedule |
Schedule 14.2.2 ADR Procedures |
COLLABORATION AND OPTION AGREEMENT |
This COLLABORATION AND OPTION AGREEMENT (this "Agreement") is entered into and made effective as of January 9, 2023 (the "Effective Date"), by and between Anima Biotech Inc., a Delaware corporation, having its principal place of business at 75 Claremont Road, Suite 102, Bernardsville, NJ 07924, USA ("Anima"), and AbbVi... |
RECITALS |
WHEREAS, Anima is a biotechnology company focused on the research and development of selective small molecule mRNA drugs and their mechanisms of action; |
WHEREAS, AbbVie possesses expertise in the research, development, manufacturing, and commercialization of human pharmaceuticals; and |
WHEREAS, Anima and AbbVie desire to engage in a collaborative effort pursuant to which Anima will carry out certain preclinical research activities set forth in each Collaboration Plan and pursuant to which AbbVie will have an option to develop and commercialize Royalty-Bearing Products worldwide, in each case as set f... |
NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: |
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