Aug 10 (Reuters) – Jazz Pharmaceuticals said on Monday it would buy privately held Actio Biosciences in a deal valued at up to $1.32 billion, adding an experimental treatment for a rare inherited form of epilepsy that has no approved therapies.
The treatment, called ABS-1230, is being developed for KCNT1-related epilepsy, a severe disease that causes frequent seizures and developmental problems in children.
• Actio shareholders will receive $820 million upfront and up to $500 million in regulatory and sales-related milestone payments, Jazz said.
• KCNT1-related epilepsy affects about 2,500 patients in the U.S., according to the company.
• Jazz said there are no approved treatments for the disorder, which typically begins in infancy and can cause dozens to hundreds of seizures a day.
• The company said ABS-1230 reduced seizures in an early study of children and is being evaluated in a study intended to support a U.S. approval application.
• Actio will spin out a new privately held company before the transaction closes, retaining certain employees and programs focused on rare neurological diseases, according to the companies.
• Jazz will receive a minority stake in the new company, which will continue developing an experimental treatment for Charcot-Marie-Tooth disease, a rare inherited nerve disorder.
• The companies expect the deal to close in the fourth quarter of 2026, subject to customary closing conditions.
(Reporting by Sahil Pandey in Bengaluru; Editing by Sahal Muhammed)
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