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Jazz Pharmaceuticals (Nasdaq: JAZZ) has entered into a global licensing agreement with Saniona (Nasdaq OMX: SANION) for exclusive worldwide rights to develop and commercialize SAN2355, a preclinical asset for epilepsy treatment. Jazz will pay $42.5 million upfront to Saniona.
The agreement includes potential payments of up to $192.5 million in development and regulatory milestones, including $7.5 million for Phase 1 initiation, up to $800 million in commercial milestones, and tiered royalties from mid-single digits to low-double digits on net sales.
SAN2355 is a subtype-selective Kv7.2/Kv7.3 activator designed to overcome limitations of non-selective Kv7-targeting compounds. Jazz will lead and fund development, regulatory submissions, and global commercialization efforts.
