The Life Sciences team advised Schrödinger (Nasdaq: SDGR) in its global discovery, development and commercialization collaboration with Zai Lab Limited focused on a novel program in oncology targeting DNA damage response. The research program will be conducted jointly by the Schrödinger and Zai Lab scientific teams.
Zai Lab will make an upfront payment to Schrödinger to help fund Schrödinger's share of research costs. Following the selection of 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 US. If Schrödinger elects to co-fund clinical development of a product candidate under the collaboration, it will be entitled to 50 percent of the profits, if any, from the commercialization of such product candidate in the United States. Schrödinger will also be eligible to receive up to approximately $338 million in preclinical, clinical, regulatory and sales-based milestone payments. Additionally, Schrödinger is entitled to receive royalties on net sales outside the US.
Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. Founded in 1990, Schrödinger has over 450 employees and is engaged with customers and collaborators in more than 70 countries.