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KRTX and Zai Lab to Develop KarXT in Greater China
KRTX and Zai Lab to Develop KarXT in Greater China.
About this update from Puretech Health Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8183R\n PureTech Health PLC\n 09 November 2021\n \n \n \n 9 November 2021\n \n PureTech Health plc\n \n \n PureTech Founded Entity Karuna Therapeutics and Zai Lab Announce Strategic Collaboration for Development, Manufacturing, and Commercialization of KarXT in Greater China\n \n \n \n \n \n Zai Lab obtains exclusive rights to develop and commercialize KarXT in Greater China\n \n \n \n \n \n Karuna to receive upfront cash payment of $35 million, up to $152 million in potential near- and long-term development and commercial milestones and other payments, and low-double-digit to high-teens tiered royalties\n \n \n \n \n \n \n PureTech Health plc\n \n (Nasdaq: PRTC, LSE: PRTC) (\"PureTech\" or the \"Company\"), a clinical-stage biotherapeutics company, noted today that its Founded Entity, Karuna Therapeutics, Inc. (NASDAQ: KRTX) (\"Karuna\"), \n and Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688), announced their entry into an exclusive license agreement for the development, manufacturing, and commercialization of KarXT (xanomeline-trospium) in Greater China, including mainland China, Hong Kong, Macau, and Taiwan. \n \n \n Under the terms of the agreement, Karuna will receive a $35 million upfront payment and is eligible to receive up to an additional $80 million in development and regulatory milestones. Karuna is also eligible to receive up to $72 million in sales milestones and low-double-digit to high-teens tiered royalties based on annual net sales of KarXT in Greater China. Zai Lab will fund substantially all development, regulatory, and commercialization activities in Greater China. PureTech is eligible to receive certain payments from Karuna under its license agreement, including sublicense payments and royalties on any sales of KarXT.\n \n \n Zai Lab will also work with Karuna to design the optimal strategy to accelerate the development and regulatory timeline of KarXT in Greater China. KarXT is an oral, investigational M1/M4-preferring muscarinic agonist that stimulates receptors in the central nervous system implicated in various psychiatric conditions. Karuna is evaluating KarXT in late-stage clinical trials for the treatment of schizophrenia and psychosis in Alzheimer's disease.\n \n \n The full text of the announcement from Karuna is as follows:\n \n \n \n \n \n Karuna ...