Zai gets Chinese rights to Five Prime's mAb

Five Prime Therapeutics Inc. (NASDAQ:FPRX) granted Zai Lab Ltd. (NASDAQ:ZLAB) exclusive rights to develop and commercialize FPA144 in China, Hong Kong, Macau and Taiwan. The therapy is a humanized mAb against keratinocyte growth factor (KGF) receptor b isoform (FGFR2b).

Five Prime will receive $5 million up front and is eligible for $39 million in milestones, plus royalties in the high teens to low twenties. Zai is eligible for low single-digit royalties on sales of FPA144 outside of its territories...