There’s more to this buyout, Jazz Pharmaceuticals to acquire Actio Biosciences for $820M upfront

Jazz Pharmaceuticals plc (Nasdaq: JAZZ) has agreed to acquire privately held Actio Biosciences, Inc. for $820 million upfront and up to $500 million in contingent consideration tied to approval and sales milestones, the companies announced.

The acquisition centers on ABS-1230, a clinical-stage small molecule inhibitor of the KCNT1 ion channel, which Actio Biosciences describes as a potential first-in-class therapy for KCNT1-related epilepsy. The condition affects an estimated 2,500 patients in the United States and currently has no FDA-approved treatments.

ABS-1230 showed seizure reductions in an early proof-of-concept trial in children with KCNT1-related epilepsy. An ongoing Phase 1b/2a study, called the KYRON trial, is intended to serve as the registrational study to support a new drug application in the U.S. The drug holds FDA Fast Track, Rare Pediatric Disease, and Orphan Drug Product designations and has been accepted into the FDA’s Rare Disease Evidence Principles program.