Jazz Pharmaceuticals (JAZZ) Sings License with Saniona for SAN2355

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is one of the Best Mid Cap Growth Stocks to Buy According to Hedge Funds. On August 20, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) announced signing an exclusive global license agreement with Saniona for the development and commercialization of SAN2355. The market has taken the news positively as the stock price has gone up by more than 4.5% since the announcement.

As per the transaction details, Saniona will receive an upfront payment of $42.5 million and will also be eligible to earn up to $192.5 million in development and regulatory milestones and up to $800 million in commercial sales milestones. On the other hand, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) obtains exclusive worldwide rights to develop and commercialize preclinical asset SAN2355 in epilepsy and other potential indications.

The CEO of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) noted that SAN2355 is a unique asset that could become a best-in-class epilepsy treatment, expanding Jazz’s neuroscience pipeline. SAN2355 is a selective small molecule that activates potassium channels called Kv7.2 and Kv7.3. These channels help control nerve cell excitability and are a validated target for suppressing seizures in epilepsy.

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for people with serious diseases, especially where only a few treatment options exist.

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Disclosure: None. This article is originally published at Insider Monkey.