Key Features of Clinical Trial and Option Agreement
The Clinical Trial & Option Agreement incorporates all the commercial and clinical terms into one simple agreement. The key features of the agreement are listed below:
- Company grants Cancer Research UK a licence to undertake the clinical trial.
CDP seeks exclusive rights for Cancer Research UK to undertake a trial in oncology, including the right to grant sub-licenses to its clinical partners, solely for the purpose of the study. - Cancer Research UK undertakes the clinical trial at no cost to the company and owns the data generated from the study.
CDP does not request any funding from the company but would welcome any financial and/or material contributions the company may wish to make to help support the study. - Company retains the rights to the existing intellectual property and a first option to the clinical data.
The company shall maintain the intellectual property during the course of the study and decide whether it wishes to exercise its option following completion of the trial and provision of the final report. - Company and CDP each receive a revenue share to be agreed upfront commensurate with the value they have added to the project.
The revenue share may be broken down into standard licence terms, to be agreed upfront, in the event the company takes the product forward themselves rather than through a licensee. - CDP has the right to develop the product if the option is not exercised on revenue share terms to be agreed.
If the company decides not to exercise its option and CDP believe the agent to be of interest, the company agrees to transfer the rights to CDP for further development and commercialisation.
