By Sahil Pandey
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.
• The acquisition aligns with Jazz’s strategy of expanding in rare diseases and strengthens its epilepsy franchise beyond Epidiolex, Truist analyst Gregory Renza said. Epidiolex was approved in 2018 for certain rare forms of epilepsy.
• Jazz said there are no approved treatments for KCNT1-related epilepsy, 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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