Jazz, Werewolf to howl at the moon together in $1.26B backloaded biobucks pact

It was a presentation at the American Society of Hematology (ASH) conference that swayed Jazz Pharmaceuticals to put up $15 million upfront to join Werewolf Therapeutics on the prowl.

The backloaded biobucks deal will see the two companies work on a candidate that goes after difficult and unresponsive tumors. The relatively small upfront payment to Werewolf will easily be eclipsed by $1.26 billion in potential development and regulatory milestone fees if all goes well. Through the deal, Jazz will gain exclusive global development and commercialization rights to WTX-613, a conditionally activated interferon alpha molecule.