WASHINGTON (dpa-AFX) - Jazz Pharmaceuticals plc (JAZZ), Wednesday announced a global license agreement with Denmark-based Saniona to obtain exclusive worldwide rights to develop SAN2355, a preclinical, selective small molecule activator for epilepsy treatment.
As per the deal, Saniona will receive an upfront payment of $42.5 million, development and regulatory milestone payments of upto $192.5 million, and commercial milestone payments of upto $800 million.
Following the deal, Jazz will lead and fund further development, regulatory submissions, and global commercialization activities regarding SAN2355.
In the pre-market hours, JAZZ is trading at $119.45, up 0.35 percent on the Nasdaq.
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