Core Insights - Jazz Pharmaceuticals has entered into a global license agreement with Saniona to develop SAN2355, a selective Kv7.2/Kv7.3 activator for epilepsy and other indications, with Jazz obtaining exclusive worldwide rights [1][2] - The collaboration aims to leverage Jazz's expertise in epilepsy and neuroscience to advance SAN2355, which is positioned as a promising treatment option [2][3] Transaction Terms - Saniona will receive an upfront payment of US $42.5 million and is eligible for up to US $192.5 million in development and regulatory milestones, including a US $7.5 million payment upon the initiation of the first Phase 1 clinical study [3] - Additionally, Saniona could receive up to US $800 million in commercial milestone payments based on achieving significant annual net sales thresholds, along with tiered royalties ranging from mid-single digits to low-double digits on net sales of products developed from SAN2355 [3] Product Overview - SAN2355 is a preclinical small molecule activator specifically targeting Kv7.2/Kv7.3 potassium channels, which are validated for seizure suppression, and is designed to avoid adverse events associated with non-selective Kv7-targeting compounds [4] - The selectivity of SAN2355 for Kv7.2/Kv7.3 supports its potential as a best-in-class treatment for epilepsy, aiming to optimize dosing for efficacy [4] Company Background - Jazz Pharmaceuticals is a global biopharma company focused on developing life-changing medicines for serious diseases, with a diverse portfolio that includes therapies for sleep disorders and epilepsy [5] - Saniona is a clinical-stage biopharmaceutical company dedicated to innovative treatments for neurological and psychiatric disorders, with a pipeline that includes SAN2219 for epilepsy and SAN2465 for major depressive disorder [6]