Shots:

• Karuna to receive $35M up front, ~$80M in development and regulatory milestones and is also eligible to receive ~$72M in sales milestones along with royalties based on sales of KarXT in Greater China
• Zai Lab gets exclusive rights to develop and commercialize KarXT in Greater China & will be responsible to fund all development, regulatory, and commercialization activities in Greater China
• Karuna plans to start the P-III ARISE trial of KarXT as an adjunctive treatment for schizophrenia in adults who inadequately respond to atypical antipsychotics in Q4'21 & is also expected to initiate P-III program of KarXT for psychosis in AD in mid-2022, based on the results from the P-Ib trial

Ref: Globe Newswire | Image: Zai Lab