On June 15, 2023, Zentalis Pharmaceuticals, Inc. announced that it and certain of its wholly owned subsidiaries had entered into an agreement to terminate its Collaboration and License Agreements with Zentera Therapeutics, pursuant to which the Company had granted to Zentera certain development and commercialization rights to its product candidates, azenosertib (ZN-c3), ZN-d5 and ZN-c5 in the People's Republic of China, Macau, Hong Kong and Taiwan (collectively, “Greater China”). As a result of the termination of these agreements, the Company has regained the rights from Zentera for azenosertib, ZN-d5 and ZN-c5 in Greater China, and now holds worldwide development and commercialization rights to these assets. In connection with the foregoing, Zentalis agreed to pay Zentera certain consideration, including a $30 million upfront payment, a milestone payment, and a low single digit royalty on net sales of azenosertib, ZN-d5 and ZN-c5 in Greater China.

In addition, Zentalis sold its 40.3% equity stake in Zentera back to Zentera for de minimis consideration.