DUBLIN, July 26, 2017 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced that it has entered into a license agreement with XL-protein GmbH ("XLp") for the rights to develop, manufacture and commercialize products using XLp's PASylation® Technology to extend the plasma half-life of selected asparaginase product candidates. Under the terms of the agreement, Jazz will gain access to XLp's PASylation technology to enable construction of asparaginase molecules intended to extend both the circulating half-life and the duration of therapeutic effect.
Jazz has paid an upfront payment of $2 million and will pay XLp for services and support as specified in the license agreement and for the achievement of certain development, regulatory and commercial milestone events, as well as royalties. Other financial terms are not disclosed.
"We are focused on pursuing development of improved products for patients with acute lymphoblastic leukemia (ALL)," said Russ Cox, executive vice president and chief operating officer of Jazz Pharmaceuticals. "Through our collaboration with XL-protein and our efforts with leaders in expression technology, we are working towards our goal of developing an effective, well-tolerated and long-acting recombinant crisantaspase that could potentially offer a clinically meaningful therapeutic option for patients with ALL."
"PASylation technology is a biological alternative to PEGylation, the gold standard for plasma half-life extension of therapeutic proteins and peptides up to now. We believe that PASylation technology offers facile manufacturing and traceless metabolisation," commented Arne Skerra, Cofounder and Chairman of XL-protein. "Historically, asparaginase was one of the first biopharmaceuticals to which PEGylation was applied, and we are excited to work with Jazz Pharmaceuticals to demonstrate the potential of PASylation technology to develop new therapeutic options in acute lymphoblastic leukemia."
About XL-protein GmbH
XL-protein is a German biotech company commercializing its ground-breaking PASylation® technology, which enables the design of biopharmaceuticals with extended plasma half-life and enhanced action. Based on a strong proprietary technology position, XL-protein focuses at the preclinical as well as clinical development of PASylated proteins in diverse disease areas. XL-protein is engaged in a growing number of partnerships with international pharmaceutical and biotech companies at various levels. For more information, please visit www.xl-protein.com
About Jazz Pharmaceuticals
Jazz Pharmaceuticals plc (Nasdaq: JAZZ) is an international biopharmaceutical company focused on improving patients' lives by identifying, developing and commercializing meaningful products that address unmet medical needs. The company has a diverse portfolio of products and product candidates, with a focus in the areas of sleep and hematology/oncology. In these areas, Jazz Pharmaceuticals markets Xyrem® (sodium oxybate) oral solution, Erwinaze® (asparaginase Erwinia chrysanthemi) and Defitelio® (defibrotide sodium) in the U.S. and markets Erwinase® and Defitelio® (defibrotide) in countries outside the U.S. For more information, please visit www.jazzpharmaceuticals.com.
Jazz Pharmaceuticals plc "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements, including, but not limited to, statements related to the company's plans to utilize its rights to the XLp's PASylation technology, the company's development of improved products for patients with ALL, including the company's goal of developing an effective, well-tolerated and long-acting recombinant cristantapase and the potential that it that could offer a clinically meaningful improvement for patients with ALL, and other statements that are not historical facts. These forward-looking statements are based on the company's current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with: the company's ability to achieve the expected benefits (commercial or otherwise) from the acquisition of rights to use XLp's PASylation technology; pharmaceutical product development and clinical success thereof; the regulatory approval process; and effectively commercializing the company's products and product candidates; and other risks and uncertainties affecting the company and its development programs, including those described from time to time under the caption "Risk Factors" and elsewhere in Jazz Pharmaceuticals plc's Securities and Exchange Commission filings and reports (Commission File No. 001-33500), including the company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 and future filings and reports by the company. Other risks and uncertainties of which the company is not currently aware may also affect the company's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements herein are made only as of the date hereof or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the company on its website or otherwise. The company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made.
SOURCE Jazz Pharmaceuticals plc