definiens: means the occurrence of any of the following events : ( a ) any partybecomes the owner, directly or indirectly, of more than fifty percent ( 50 % ) of the total voting power(on an as converted basis ) of the equity units or other interests of Licensee then outstanding thatare normally entitled to vote in the election of directors of Licensee other than in connection with afinancing or series of financing transactions ; ( b ) the merger, consolidation or amalgamation ofLicensee with or into any other party, other than any transaction in which the holders of theoutstanding voting securities of Licensee immediately prior to the transaction own, directly orindirectly, not less than fifty percent ( 50 % ) of the total voting power ( on an as converted basis ) ofthe voting securities of the party surviving such merger, consolidation or amalgamation ; or ( c ) thesale of all or substantially all of the assets of Licensee.1.11 means ( a ) a Phase 1 Study, Phase 1/2 Study, Phase 2 Study, or Phase 3 Study, or ( b ) such other study in humans that is conducted in accordance with good clinical practicesand is designed to generate data in support or maintenance of an application for RegulatoryApproval