Zai Lab, Vertex Pharmaceuticals announce povetacicept license agreement

Zai Lab (ZLAB) and Vertex Pharmaceuticals (VRTX) announced an exclusive collaboration and license agreement for the development and commercialization of Vertex’s povetacicept in mainland China, Hong Kong SAR, Macau SAR, Taiwan region and Singapore. Pove is a recombinant fusion protein therapeutic and dual antagonist of BAFF and APRIL being studied for the treatment of Immunoglobulin A nephropathy and other B cell-mediated diseases. Under the terms of the agreement, Vertex will receive an upfront payment, as well as certain regulatory milestone payments and tiered royalties, on net sales of pove in the region of focus for Zai Lab. Zai Lab will be responsible for all commercialization activities in the licensed territory once povetacicept becomes an approved product.