- Jazz Pharmaceuticals (NASDAQ:JAZZ) has signed a research collaboration agreement with Redx Pharma to discover and develop drug candidates for two cancer targets in the Ras/Raf/MAP kinase (MAPK) pathway.
- Under the terms of the agreement, Jazz will make an upfront payment to Redx of $10M, followed by another $10M in year two, provided research work is continuing.
- Redx will be responsible for research and preclinical development activities up to Investigational New Drug (IND) submission.
- Following delivery of an IND-ready molecule, Redx will be eligible to receive up to a further $200M in milestone payments for each program. After IND submission, Jazz will be responsible for further development, manufacturing, regulatory activities and commercialization.
- Redx is also eligible to receive tiered sales-based royalties in mid-single digit percentages.