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

• Schrödinger 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 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.

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