BioCentury
ARTICLE | Company News

Aerial, Jazz Pharmaceuticals deal

January 20, 2014 8:00 AM UTC

Aerial granted Jazz exclusive, worldwide rights to develop and commercialize ADX-N05, except in countries in Asia where SK Biopharmaceuticals Co. Ltd. (Seoul, South Korea) has rights. ADX-N05 has completed Phase IIb testing for excessive daytime sleepiness in patients with narcolepsy. Jazz said it plans to start Phase III testing "as quickly as possible."

Aerial will receive $125 million up front, and Aerial and SK are eligible for up to $272 million in development, regulatory and sales milestones, plus tiered royalties from the high single-digits to the mid-teens. Aerial had ex-Asian rights to the phenylalanine derivative from SK under a 2011 deal. Piper Jaffray was financial advisor to Aerial, and Hutchison Law Group was its legal advisor. Cooley was legal advisor to Jazz. ...