DLA Piper advises Axsome Therapeutics in its acquisition of Sunosi from Jazz Pharmaceuticals
DLA Piper represented Axsome Therapeutics, a biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, in connection with its acquisition of Sunosi, a dual-acting dopamine and norepinephrine reuptake inhibitor, from Jazz Pharmaceuticals.
Axsome will receive commercial, development, manufacturing, and intellectual property rights to the product from Jazz, thus strengthening its industry-leading neuroscience portfolio. Axsome will also provide Jazz with a high single-digit royalty on Axsome’s U.S. net sales of Sunosi in the current indication, and a mid single-digit royalty on Axsome’s U.S. net sales of Sunosi in future indications. Axsome will also assume certain third-party milestone and royalty payments.
“It is exciting to support Axsome Therapeutics as it grows its industry-leading, late-stage neuroscience portfolio,” said DLA Piper partner Emilio Ragosa, who led the firm’s representation. “As the life sciences space continues to evolve, we are eager to continue assisting clients in the complex pharmaceutical acquisitions market that will aid the growth of important medications like Sunosi.”
DLA also advised Axsome in connection with its simultaneous $300 million credit facility and related filings with the US Securities and Exchange Commission.
In addition to Ragosa (Short Hills), the DLA team was comprised of partners Glenn Reitman (Houston), Paolo Morante (New York), Lauren Murdza (Philadelphia), Marco de Morpurgo (Rome), Stephan Harris (Boston), Maura Dineen (Dublin), Chris Halliday (Philadelphia), Chris Mikson (Philadelphia) Elena Nrtina (San Francisco); of counsel Mattais Luukkonen (San Diego); legal director Chris Baker (Leeds); associates Nicholas Luciano (Short Hills), Ryan Fitzpatrick (New York), Kenneth Duncan (New York), Jenna Mason (Boston), and attorney Eileen Rhein (New York).
DLA Piper advises on all aspects of the life sciences sector, combining subject matter experience with considerable knowledge of the scientific, medical, regulatory, commercial and enforcement environments facing biopharmaceutical, medical device, research and diagnostics clients. Recognizing that clients’ needs vary, the firm rapidly organizes and customizes client service teams, whether for a large pharmaceutical company, a mid-sized medical device client or a development-stage biotech company.