Jazz Pharmaceuticals announced its acquisition of Actio Biosciences for an upfront payment of $820 million, with the possibility of an additional $500 million based on future sales or approval milestones.
This acquisition is particularly important as it focuses on Actio's lead drug, ABS-1230, which is an oral precision therapy showing promise in treating KCNT1 + epilepsy, a rare condition lacking FDA-approved treatments.
Renee Gala, president and CEO of Jazz Pharmaceuticals, expressed optimism about the emerging clinical profile of ABS-1230 and the collaboration with Actio to meet urgent patient needs. This strategic move not only strengthens Jazz's existing rare epilepsy portfolio but also complements its broader pipeline that includes treatments for rare cancers and sleep disorders.
Additionally, Actio's pipeline unrelated to epilepsy will be spun off into a new privately-held company dedicated to rare genetic neurological diseases, in which Jazz will retain a minority stake. The deal has received approval from both companies' boards and is expected to close by the fourth quarter of this year