SpringWorks Therapeutics Inc. is selling its fatty acid amide hydrolase (FAAH) inhibitor program including PF-04457845 for the treatment of post-traumatic stress disorder (PTSD) and associated symptoms to the Irish-based Jazz Pharmaceuticals plc for $35 million.
According to the Stamford-based SpringWorks, the transaction includes potential milestone payments to the company of up to $375 million upon the achievement of certain clinical, regulatory and commercial milestones, as well as incremental tiered royalties on future net sales of the treatment in the mid- to high-single digit percentages.
PF-04457845 is a novel FAAH inhibitor that has been shown in animal case trials to reduce inflammatory pain with efficacy that is comparable to naproxen. SpringWorks stated PF-04457845 has potential in treating multiple core symptoms of PTSD – including fear extinction, anxiety and disrupted sleep architecture – and noted that initial clinical experience on patients has shown promising activity.
“We believe that Jazz’s track record of developing and commercializing neuropsychiatric medicines will help ensure that PF-04457845 reaches its full therapeutic potential on behalf of patients suffering from PTSD,” said Saqib Islam, CEO of SpringWorks. “This transaction enables the continued development of the FAAH inhibitor program while simultaneously allowing SpringWorks to further optimize our growing targeted oncology portfolio across our three core focus areas of late-stage rare oncology, BCMA combinations in multiple myeloma and biomarker-defined metastatic solid tumors.”
“Adding to our robust and productive pipeline, the acquisition of SpringWorks’ FAAH inhibitor program is a strong fit for Jazz as we continue to build out our mid-stage neuroscience portfolio,” said Dr. Robert Iannone, executive vice president of research and development of Jazz Pharmaceuticals. “This acquisition reinforces our unwavering commitment to developing and commercializing innovative medicines in areas of high unmet need, and, given there has been no new medication approved to treat PTSD for nearly two decades, we believe there is a significant patient need.”