- Jazz Pharmaceuticals (JAZZ -0.6%) and SpringWorks Therapeutics (SWTX +0.7%) entered into an asset purchase and exclusive license agreement wherein the former has acquired the latter's fatty acid amide hydrolase (FAAH) inhibitor program including PF-04457845.
- SpringWorks has also assigned its license agreement, including royalty obligations, with Pfizer, under which the latter licensed PF-04457845 to the former in 2017.
- Initially, Jazz will focus on developing PF-04457845 for the potential treatment of post-traumatic stress disorder and associated symptoms.
- Jazz will also make an upfront payment of $35M to SpringWorks, with potential milestone payments of up to $375M million upon the achievement of certain milestones.
- SpringWorks will receive incremental tiered royalties on future net sales of PF-04457845 in the mid- to high-single-digit percentages.
- https://seekingalpha.com/news/3625657-jazz-pharmaceuticals-acquires-springworks-therapeutics-faah-inhibitor-program
Monday, October 26, 2020
Jazz Pharmaceuticals acquires SpringWorks Therapeutics' FAAH inhibitor program
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