Jazz Pharmaceuticals Enters Definitive Agreement with Redx Pharma to Acquire Global Rights to KRAS Inhibitor Program for $10M Upfront Payment and upto $870M Earnout
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Jazz Pharmaceuticals (NASDAQ:JAZZ) has signed a definitive agreement to acquire the global rights to Redx Pharma's KRAS inhibitor program for an upfront payment of $10M and up to $870M in earnouts. The deal includes collaboration on IND-enabling studies, with Jazz handling clinical development, regulatory, manufacturing, and commercialization. The agreement also involves potential milestone payments and royalties to Redx based on future net sales.
February 07, 2024 | 7:07 am
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Jazz Pharmaceuticals acquires global rights to Redx Pharma's KRAS inhibitor program, committing to an upfront payment of $10M and potential earnouts up to $870M, along with handling future development and commercialization.
This acquisition is significant for Jazz Pharmaceuticals as it expands their oncology portfolio with a promising KRAS inhibitor program. The financial commitment and potential for future milestone payments indicate a strong belief in the program's value. This move is likely to be viewed positively by investors, given the high interest in KRAS inhibitors as a novel cancer treatment, potentially leading to a short-term positive impact on JAZZ's stock price.
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