definiens: means any business entity that directly or indirectly controls, is controlled by, or is under common controlwith either party to this Agreement . A business entity shall be deemed to another business entity if it owns, directly or indirectly, more than fifty percent ( 50 % ) of the outstanding voting securities, capital stock or othercomparable equity or ownership interest of such business entity . If the laws of this jurisdiction in which such entityoperates prohibit ownership by a party of more than fifty percent ( 50 % ), control shall be deemed to exist at themaximum level of ownership allowed by such jurisdiction ; ( b ) means a biological license application, or any successor equivalent, as such term is used in the regulations ofthe FDA ; ( c ) means Biomira ’s immunotherapeutic vaccine composed of a 25 - amino acid sequence of the MUC1 cancermucin, which vaccine is combined with the adjuvant Lipid A and is encapsulated in a liposomal delivery system, together with ( i ) any improvements thereto owned by Biomira ( such as liposomal IL-2 in a kit, synthetic Lipid A, ornew delivery formats such as unit dose liquid formulations and unit doge syringes ) owned by Biomira or licensed inby Biomira with the right to sublicense in the manner contemplated by the Collaboration Agreement and whichBiomira and [COMPANY] agree in writing to implement and ( ii ) any Prodrug thereof ; ( d ) means on / or about May 22, 2001, or such other date or dates as Biomira may determine ; ( e ) means the collaboration agreement of even date between Biomira International andMerck ; ( f ) means common shares in the capital or the Corporation ; ( g ) shall mean May 2, 2001, or such other date as Biomira and [COMPANY] may agree upon in writing ; ( h ) means the United States Food and Drug Administration or any successor agency ; ( i ) means Theratope ® or BLP-25, as the case may be, label indication for treating and/or preventing(i ) adjuvant breast cancer ( stages I - III ), ( ii ) metastatic breast cancer ( stage IV ), ( iii ) metastatic lung cancer ( stages IIIb - IV ), ( iv ) early stage lung cancer ( stages I - IIIa ), ( v ) adjuvant colorectal cancer ( stages IIb - III ), ( vi ) metastatic colorectalcancer ( stage IV ), ( vii ) early stage prostate cancer ( stages Ib - III ), and/or ( viii ) metastatic prostate cancer ( stage IV ) ; ( j ) means a chemical precursor of THERATOPE ® or BLP-25, as the case may be, which is to be cleaved in ahuman being directly into THERATOPE ® or BLP-25, as the case may be, and/or a metabolic intermediate thereof, butexcluding for greater certainty antigen processing ; ( k ) has the meaning attributed to that term in section 2.1 of this Agreement ; ( l ) means Biomira ’s immunotherapeutic cancer vaccine incorporating a synthetic mimic of Sialated Tn(STn ), a naturally occurring cancer associated antigen found on cancer cells : the synthetic carbohydrate STn ischemically conjugated to keyhole limpet hemocyanin ( KLH ) and administered initially with an adjuvant(EnhanzyaTM ), together with ( i ) any improvements thereto owned by Biomira ( such as use of a new adjuvant, areplacement carrier for KLH or a new delivery format such as a unit dose syringe ) owned by Biomira or licensed in byBiomira with the right to sublicense in the manner contemplated by the Collaboration Agreement and which Biomiraand [COMPANY] agree in writing to implement and ( ii ) any Prodrug thereof ; and ( m ) means, with respect to the price on any date that the Common Shares are to bepurchased by [COMPANY] as specified in this Agreement, the weighted average of the price plus fifteen percent ( 15 % ) ofsuch Common Shares on the NASDAQ market for each of the ninety ( 90 ) business days before that date equal to themilestone achievement ( which is either the Effective Date, the date of submission for BLA to the FDA for Theratope ®,or for BLP-25, as the case may be