Shots:

• MacroGenics receives initial consideration of $55M- including ~$25M up front- $30M as an equity investment in common stock at $31.30/ share & is eligible to receive ~$1.4B as a milestone for 4 programs along with royalties in Zai Lab’s territories
• Zai lab gets rights to obtain DART & TRIDENT platforms to expand oncology portfolio & lead research program for solid tumors
• Zai Lab also holds exclusive global licenses to develop- manufacture & commercialize 2 additional molecules. Each company will contribute IP to produce either CD3 or CD47 bispecific Abs. For the lead molecule- Zai Lab receives an option to convert the regional arrangement into a global 50/50 profit share

Ref: Globe Newswire | Image: Sign Builder Illustrated