Legal process
Confidential Disclosure Agreement
All confidential information will be reviewed under a standard Confidential Disclosure Agreement.
Head of Terms
In parallel to the NAC application, commercial negotiations shall be initiated and a Heads of Terms agreed outlining the key financial terms. Negotiation and drafting of agreements is co-ordinated through Cancer Research Technology.
Negotiation
Once agreed, the Heads of Terms shall be transferred to a template Clinical Trial & Option Agreement for final negotiation. The template agreement has been carefully drafted to incorporate all the clinical and commercial terms into one document to keep the transaction as simple as possible.
Clinical Trial and Option Agreement (CTOA)
The Clinical Trial & Option Agreement shall be executed in advance of starting the clinical study. In cases where a significant amount of preclinical work is required we may seek permission from the company to begin this work earlier to ensure there is minimum delay to the trial.
Exercise Option and enter Licence
Once the company has exercised its Option the parties will enter into a Licence. The terms of the Licence will be agreed upfront (including the terms should the company decide not to pursue the agent) and incorporated as a schedule to the Clinical Trial & Option Agreement.
