Date: 2014-01-13
Type of information: Licensing agreement
Compound: ADX-N05
Company: Jazz Pharmaceuticals (Ireland) Aerial Biopharma (USA)
Therapeutic area: Rare diseases
Type agreement: licensing
sale
Action mechanism:
Disease: excessive daytime sleepiness in patients with narcolepsy
Details: * On January 13, 2014, Jazz Pharmaceuticals and Aerial BioPharma have announced that the companies have signed a definitive agreement under which Jazz Pharmaceuticals has acquired rights to ADX-N05, a novel compound in clinical development for the treatment of excessive daytime sleepiness in patients with narcolepsy. Under the agreement, a subsidiary of Jazz Pharmaceuticals has acquired worldwide development, manufacturing and commercial rights to ADX-N05, other than in certain countries in Asia where SK Biopharmaceuticals Co., Ltd (SK) retains rights. ADX-N05 Phase 2b results have been announced by Aerial in October 2013 and the company intends to initiate a Phase 3 clinical program as quickly as possible.
Financial terms: Under the agreement, Aerial will receive an upfront payment of $125 million. Aerial and SK are eligible to receive milestone payments based on development, regulatory and sales milestones and tiered royalties based on potential future sales.
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