Jazz Pharma, Sumitomo Pharma Ink Licensing Pact For Sleeping Disorder Candidate

• Jazz Pharmaceuticals plc (NASDAQ: JAZZ) has acquired development and commercialization rights in the U.S., Europe, and other territories for Sumitomo Pharma's investigational DSP-0187.

• DSP-0187 is a potent, highly selective oral orexin-2 receptor agonist with potential application for treating narcolepsy, idiopathic hypersomnia, and other sleep disorders.

• Jazz has designated this molecule JZP441.

• Sumitomo Pharma initiated a Phase 1 trial in Japan of DSP-0187 in November 2021 to evaluate the safety, tolerability, and pharmacokinetics in healthy volunteers.

• DSP-0187 is initially planned to be evaluated in patients with narcolepsy.

• Sumitomo Pharma will retain all development and commercialization rights in Japan, China, and other Asia/Pacific countries and regions.

• It will receive an upfront payment of $50 million and is eligible to receive development, regulatory, and commercial milestone payments of up to $1.09 billion.

• Pending approval, Sumitomo Pharma is eligible to receive a tiered, low double-digit royalty on Jazz's net sales of DSP-0187.

• Price Action: JAZZ shares are down 4.24% at $150.76 during the market session on the last check Thursday.

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