Autifony Announces Exclusive Global License and Collaboration Agreement with Jazz Pharmaceuticals on Two Ion Channel Targets for Neurological Disorders

Rhea-AI Summary

Jazz Pharmaceuticals plc (Nasdaq: JAZZ) announces an exclusive global licensing agreement with Autifony Therapeutics Limited for up to $770.5 million to discover and develop drug candidates targeting ion channel targets associated with neurological disorders. Autifony will lead drug discovery and preclinical development activities, while Jazz will handle clinical development, manufacturing, and commercialization. Autifony is set to receive an upfront payment and potential milestone payments, with the total deal value including royalties on future net sales.

Positive

• Autifony's expertise in small molecule ion channel drug discovery and Jazz's track record in neuroscience development and commercialization bode well for the success of the programs. Targeting ion channels offers opportunities for precision medicine in diseases that have been difficult to treat in the past.

Negative

• None.

• Total Deal Value of Up to $770.5 million including Upfront Payment and Potential Milestone Payments
• Autifony Eligible to Receive Royalties on Future Net Sales

STEVENAGE, England--(BUSINESS WIRE)-- Autifony Therapeutics Limited (“Autifony”), which is pioneering the development of novel pharmaceutical treatments for rare CNS disorders and other serious brain diseases, today announced that it has entered into an exclusive global licensing agreement with Jazz Pharmaceuticals plc (Nasdaq: JAZZ) (Jazz) for up to $770.5 million to discover and develop drug candidates targeting two different ion channel targets associated with neurological disorders.

Autifony will lead drug discovery and preclinical development activities on the two targets. Subsequent to successful completion of such preclinical development, Jazz will lead all clinical development, manufacturing and regulatory activities and commercialization.

Under the terms of the agreement, Autifony will receive an upfront payment from Jazz and is eligible to receive development, regulatory and commercial milestone payments across the two programmes. The upfront and milestone payments have a combined total value of up to $770.5 million. Autifony is also eligible to receive royalties on future net sales.

Dr Charles Large, Chief Executive Officer of Autifony Therapeutics, commented: “We are excited to be working with Jazz Pharmaceuticals on two novel ion channel targets, on which we can bring to bear Autifony’s long standing expertise in small molecule ion channel drug discovery and development. Jazz has an exceptional track record of rapidly advancing neuroscience development programmes and effectively commercializing novel therapies that offer improvements over current standards of care. These programmes have the potential to bring ground-breaking benefits to patients in a range of indications.”

Autifony is leveraging its pioneering scientific expertise and proprietary ion channel drug discovery platform to generate a pipeline of small molecule modulators that selectively target specific subtypes of ion channels.

Ion channels are vital to many physiological functions including the activity of nerves and muscles. They are membrane proteins that act as gated pathways for the movement of ions across cell membranes. Increasingly, a number of diseases have been associated with defects in ion channel function. Many of these diseases are the result of mutations in the genes encoding ion channel proteins, and they are now known as the “channelopathies”. Targeting these channels offers opportunities for precision medicine in diseases that have been difficult to treat in the past.

Notes to Editors

About Autifony Therapeutics Ltd

Autifony Therapeutics is an independent UK based biotechnology company formed in 2011 as a spin-out from GSK, which retains equity in the company. The Company is focused on the development of high value, novel medicines to treat serious diseases of the central nervous system. It is funded by SV Health Investors, IP Group, Pfizer Ventures, International Biotechnology Trust PLC, and UCL Business plc. For more information, please visit www.autifony.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231113799570/en/

Instinctif Partners (Autifony)

Melanie Toyne-Sewell / Giulia Lasagni

T: +44 (0) 20 7457 2020

E: Autifony@instinctif.com

Source: Autifony Therapeutics Ltd

FAQ

What is the total deal value of the licensing agreement between Jazz Pharmaceuticals and Autifony Therapeutics Limited?

The total deal value is up to $770.5 million, including upfront payment and potential milestone payments, with royalties on future net sales.

What activities will Autifony lead in the drug discovery and development process?

Autifony will lead drug discovery and preclinical development activities on the two ion channel targets.

What will Jazz Pharmaceuticals handle in the drug development process?

Jazz Pharmaceuticals will lead all clinical development, manufacturing, regulatory activities, and commercialization once the preclinical development is successfully completed.

What opportunities do targeting ion channels offer in the treatment of diseases?

Targeting ion channels offers opportunities for precision medicine in diseases that have been difficult to treat in the past, particularly in diseases associated with defects in ion channel function, known as 'channelopathies'.