Jazz Pharma acquires Alizé Pharma II for 18 million euros

Ireland-incorporated Jazz Pharmaceuticals (Nasdaq: JAZZ) has acquired 100% of the shares of independent French drug developer Alizé Pharma II shares.

This all-cash transaction closed in March 2016. The deal is valued at up to 18 million euros ($20.5 million), including an upfront payment of 8 million euros and potential payments of up to 10 million euros related to regulatory milestones. The transaction did not involve the transfer of any employees from the Alizé Pharma Group to Jazz Pharmaceuticals.

Alizé Pharma II was created in 2008. Prior to the closing of this transaction its shareholders were TAB Consulting, Octalfa, CEMA and Sham Innovation Santé. The company’s lead assets are pegcrisantaspase (Asparec), a PEGylated recombinant L-asparaginase from Erwiniachrysanthemi, and related intellectual property. The compound is under investigation for the treatment of acute lymphoblastic leukemia. In February 2012, Alizé Pharma II announced that it had licensed these assets to EUSA Pharma, which was subsequently acquired by Jazz Pharmaceuticals.

“We are very pleased with this transaction with Jazz Pharmaceuticals, following our productive collaboration under the license agreement. It is in line with our business strategy, which is to develop promising clinical assets and divest them to the industry, whilst ensuring the sustainability of our drug development team and organization,” said Thierry Abribat, manager, TAB Consulting, president and founder, Alizé Pharma Group.