By Fineline Cube 
Jazz Pharmaceuticals plc (NASDAQ: JAZZ) and Saniona (STO: SANION) announced today that they have entered into a global license agreement granting Jazz exclusive worldwide rights to develop SAN2355, a subtype-selective Kv7.2/Kv7.3 activator in preclinical development for epilepsy and other potential indications.
Agreement Details
Under the terms of the agreement, Saniona will receive an upfront payment of $42.5 million and is eligible for up to $192.5 million in development and regulatory milestones, including a $7.5 million payment upon the initiation of the first Phase 1 clinical study. Additionally, Saniona could receive up to $800 million in commercial milestone payments and tiered royalties ranging from the mid-single digits to low-double digits on net sales of commercial products resulting from SAN2355 development.
Development Focus
Jazz will lead the development, regulatory submissions, and global commercialization of SAN2355, which is designed to overcome the limitations of non-selective Kv7-targeting compounds.-Fineline Info & Tech