Shares of US biotech Karuna Therapeutics (Nasdaq: KRTX) were down as much as 2% in early trading, despite the fact that it has entered into an exclusive license agreement with Shanghai, China-based Zai Lab (HKEX: 9688) for the development, manufacturing and commercialization of KarXT in Greater China, including mainland China, Hong Kong, Taiwan and Macau.
This collaboration marks the expansion and diversification of Zai Lab’s portfolio with a new focus on neuroscience, with KarXT positioned to serve as the cornerstone of their new psychiatric franchise.
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