Jazz Pharmaceuticals announced 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.
Epilepsy Treatment
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.
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.
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.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
