Interesting Exerpts from the Moffitt Agreement:
1. SCHEDULE The Projects shall be carried out from November 17, 2003 to November 17, 2006 ("Project Period") unless sooner terminated by written notice pursuant to Section 10 of this Agreement. This Agreement may be renewed by the Parties, as a new Agreement or by amendments to this Agreement.
Interesting, the agreement wasn't announced until March 29, 2004, yet according to the agreement, the schedule started November 17, 2003. Almost as if the parties took a sneek preview prior to announcing the agreement.
3. FUNDING - Neither Party is obligated to fund the research of the other Party. Hence, Company and Moffitt shall each be responsible for their own expenses incurred in the performance of the Projects, unless otherwise agreed to in writing. Moffitt makes no representations that they will fund any clinical trials that may ensue from the Projects. Funding for the clinical trials will be dependent upon each Principal Investigator's ability to financially support such trials and or support from Company or another third party.
Funding for the research itself appears to be up to each individual party. The trials, however, seem to be looking first to the Principal Investigator and/or the Company or another third party (a pharma company perhaps?)
7.2 The Parties agree that it is in their best interest to commercialize any Joint Inventions resulting form the Projects. In the event that Joint Inventions are commercialized, the Parties agree:
7.3 Except for the granting of rights to respective governmental agencies as required by law and the offer of Terms made in this Section 7, the Parties agree that during the term of this agreement neither party will issue a license agreement or assign patent rights to any third parties without the prior written consent of the other Parties.
They intend to commercialize the results, and neither party can take the property and sidestep the other through a third party license, unless all parties agree.
PROPOSED STUDIES
DNAPRINT GENOMICS, INC. AND THE H. LEE MOFFITT CANCER CENTER RESEARCH INSTITUTE, INC. AT THE UNIVERSITY OF SOUTH FLORIDA.
GOALS
BACKGROUND
THE H. LEE MOFFITT CANCER CENTER
The H. Lee Moffitt Cancer Center - has a substantial program involved in cancer, has access to a l85,000 patient clinical center and has expertise in the conduct of clinical trials.
DNAPRINT GENOMICS, INC. - IS A PHARMACOGENOMICS COMPANY WITH PROPRIETARY TECHNOLOGIES TO STUDY DNA SAMPLES AND DETERMINE CLASSIFIERS TO PREDICT RESPONSES TO DRUGS.
STUDY PROPOSAL ON COLON CANCER
PRINCIPAL INVESTIGATOR AT MOFFITT: TIM YEATMAN, MD
STUDY PROPOSAL ON MULTIPLE MYELOMA
PRINCIPAL INVESTIGATOR AT MOFFITT: DANIEL SULLIVAN, MD
STUDY PROPOSAL ON CYCLOPHOSPHAMIDE
PRINCIPAL INVESTIGATOR AT MOFFITT: RICHARD M. LUSH, PHD
STUDY PROPOSAL ON TAXANES
PRINCIPAL INVESTIGATOR AT MOFFITT: JONATHAN M. LANCASTER, MD
I just enjoy the fact that three of the four principal investigators are, in fact, MD's.
12. TERMINATION This Agreement may be terminated by any Party at any time uponthe giving of ninety (90) days prior written notice to the other Parties.
Evidence of very serious intent. Ninety (90) days prior notice required to terminate the Agreement.
Lastly, the signatories:
Director of Technology Transfer
H. Lee Moffitt Cancer Center and Research Institute, Inc.
12902 Magnolia Drive
Tampa, Florida 33612-9497
Name: James J. Mule
Associate Center Director
Translational Science and Technology Development
Looks like they're hoping to develop some technology and transfer it for commercialization. Music to investor ears.
Later,
W2P
