Benzinga | Aug 4, 2021 11:53AM EDT

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

* Schr?dinger Inc (NASDAQ:SDGR) and Zai Lab Limited (NASDAQ:ZLAB) have collaborated to discover, develop, and commercialize oncology candidate targeting DNA damage response.

* The research program will be conducted jointly by the Schr?dinger 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 Schr?dinger to help fund Schr?dinger'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 Schr?dinger co-development and co-commercialization rights in the U.S.

* If Schr?dinger elects to co-fund clinical development, it will be entitled to 50% of the profits. Schr?dinger 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.