Schrödinger, Zai Lab Team Up For Cancer Program Targeting DNA Damage Response

Schrödinger Inc SDGR and Zai Lab Limited ZLAB have collaborated to discover, develop, and commercialize oncology candidate targeting DNA damage response.
The research program will be conducted jointly by the Schrödinger and Zai Lab scientific teams. The companies will be responsible for their research program expenses.
Under the terms of the collaboration agreement, Zai Lab will make an upfront payment to Schrödinger to help fund Schrödinger's share of research costs.
After selecting a development candidate, Zai Lab will assume primary responsibility for global development, manufacturing, and commercialization. The agreement provides Schrödinger co-development and co-commercialization rights in the U.S.
If Schrödinger elects to co-fund clinical development, it will be entitled to 50% of the profits. Schrödinger will also be eligible to receive up to approximately $338 million in milestone payments.
Price Action: SDGR shares are up 2.30% at $67.93, while ZLAB stock is down 0.45% at $146.86 during the market session on the last check Wednesday.