Mirati And Zai Lab Collaborate On Adagrasib In Greater China

(RTTNews) - Mirati Therapeutics Inc. (MRTX) and Zai Lab Limited (ZLAB) said that they have reached a collaboration and license agreement for adagrasib, a small-molecule KRASG12C inhibitor, in Greater China.

Adagrasib is an investigational, highly selective, and potent oral small-molecule inhibitor of KRASG12C that is optimized to sustain target inhibition, an attribute that could be important to treat KRASG12C mutated cancers, which regenerates every 24-48 hours.

As per the terms of the deal, Zai Lab obtains the right to research, develop, manufacture and exclusively commercialize adagrasib in Greater China.

Zai Lab will support accelerated enrollment in key global, registration-enabling clinical trials of adagrasib in patients with cancer who have a KRASG12C mutation. Mirati has an option to co-commercialize in Greater China and retains full and exclusive rights to adagrasib in all countries outside of Greater China.

Mirati will receive a $65 million upfront payment, with the potential to receive up to an additional $273 million in development, regulatory and sales-based milestone payments.

Mirati is also eligible to receive high-teen- to low-twenties-percent tiered royalties based on annual net sales of adagrasib in Greater China.