Backup Licensed Product

Backup Licensed Product. Shall mean any Licensed Product wherein the dipeptidyl peptidase-IV inhibiting chemical entity is different from that in the First Licensed Product and is either (a) developed in addition to the First Licensed Product or (b) developed as a replacement for the First Licensed Product or a Backup Licensed Product should such Licensed Product fail to complete successfully clinical studies or fail to obtain an Approval. Phenomix may not initiate development of more than three (3) Backup Licensed... Products. View More