Ireland-headquartered Jazz Pharmaceuticals (Nasdaq JAZZ) and Denmark’s Saniona (Nasdaq OMX: SANION) have entered into a global license agreement for Jazz to obtain exclusive worldwide rights to develop SAN2355, a highly differentiated, subtype-selective Kv7.2/Kv7.3 activator.
Saniona’s shares leapt as much as 58% to 12.92 kroner on the news of the potentially over billion-dollar deal.
The compound is in pre-clinical development for epilepsy and other potential indications, designed to overcome the limitations of non-selective Kv7-targeting compounds. Jazz will lead and fund further development, regulatory submissions, and global commercialization activities.
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