Jazz Pharmaceuticals Enters Into Global License Agreement To Develop SAN2355

(RTTNews) - 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.