Jazz exercises zanidatamab option; pays $325M; 41.3% ORR in BTC trial

Jazz Pharmaceuticals plc

Jazz exercised option to retain exclusive rights to zanidatamab in U.S., Europe, and Japan.
One-time $325M payment in Q4 2022; total potential milestones up to $1.76B plus royalties.
Pivotal HERIZON-BTC-01 trial showed 41.3% ORR (95% CI: 30.4-52.8) and median DOR 12.9 months.
Safety profile consistent with prior monotherapy; no new safety signals.
Zymeworks eligible for tiered royalties of 10-20% on Jazz net sales pending approval.

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