Jazz Pharmaceuticals has announced that it is acquiring Actio Biosciences to enhance its position as a leader in treatments for rare epilepsies.
Through the definitive agreement, Jazz will pay $820 million upfront with contingent consideration of up to $500 million in approval and sales milestones.
The acquisition includes Actio's ABS-1230, a novel, oral small molecule precision therapy to treat KCNT1+ epilepsy, for which there are currently no FDA-approved therapies. The KCNT1 ion channel inhibitor showed a meaningful reduction in seizures in a proof-of-concept trial in children. The drug is currently undergoing a phase 1b/2a trial to support its NDA submission. It already has FDA Fast Track, Rare Pediatric Disease, and Orphan Drug Product designations and is in the new Rare Disease Evidence Principles (RDEP) program.