Shots:

• Kumquat to receive an ~ $70M in upfront and an equity investment in addition to ~$2B in milestone based on the achievement of definite milestones along with royalties on sales of commercialized products resulting from the collaboration
• Following the agreement- Lilly gets the option to co-commercialize in China while Kumquat has the option to co-develop and co-commercialize in the US
• Kumquat holds the development and commercialization rights in Greater China for each drug candidate that Lilly selects while Lilly has the option to select a definite number of drug candidates for further development and commercialization globally Ex- Greater China

  | Ref: Eli Lilly | Image: Kumquat