Jazz Pharma Acquires Rights To ADX-N05 - Quick Facts

(RTTNews) - Jazz Pharmaceuticals plc (JAZZ) and Aerial BioPharma, LLC Monday said 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.

A subsidiary of Jazz Pharmaceuticals has acquired worldwide development, manufacturing and commercial rights to ADX-N05, other than in some countries in Asia where SK Biopharmaceuticals Co., Ltd retains rights.

Under the agreement, Aerial will receive an upfront payment of $125 million. Aerial and SK are entitled to receive milestone payments based on development, regulatory and sales milestones and tiered royalties based on potential future sales.