Jazz to acquire KRAS inhibitor program from Redx Pharma for $10M upfront

Jazz Pharmaceuticals and Redx Pharma announced that the companies have signed a definitive agreement under which Jazz will acquire Redx’s KRAS, or Kirsten rat sarcoma virus, inhibitor program. Jazz and Redx will collaborate to advance candidates through IND-enabling studies; Jazz will be responsible for all clinical development, regulatory, manufacturing and commercialization activities. Under the terms of the agreement, Jazz will make an upfront payment to Redx of $10M for all rights, patents, title and interest relating to Redx’s proprietary KRAS inhibitor program, which includes G12D selective and pan-KRAS molecules. Redx is eligible to receive up to $870M in development, regulatory and commercial milestone payments from Jazz, with the next milestone being an IND clearance from this program from the FDA. Redx is also eligible for tiered, mid-single digit percentage royalties based on any future net sales. As part of a separate collaboration agreement, signed in parallel, Jazz will pay Redx to perform research and preclinical development activities with the goal of completing IND-enabling studies for both KRAS profiles.