January 13, 2014

Aerial BioPharma and Jazz Pharmaceuticals announced this morning a deal giving Jazz worldwide development, manufacturing and commercial rights to ADX-N05, outside of certain Asian countries where SK Biopharmaceuticals Co., Ltd retains rights. ADX-N05 is a novel compound in clinical development for the treatment of excessive daytime sleepiness in patients with narcolepsy. Terms include $125 million upfront payment in cash, plus a potential for up to $272 million in milestone payments. Read the full press release here.