Jazz Pharmaceuticals to acquire Actio Biosciences for up to $1.32 billion

Jazz Pharmaceuticals has agreed to acquire privately held Actio Biosciences in a transaction valued at up to $1.32 billion, with $820 million upfront and up to $500 million tied to regulatory approvals and sales milestones. Actio is a clinical-stage biopharmaceutical company developing precision medicine therapies for rare neurological diseases, including ABS-1230, a first-in-class KCNT1 ion channel inhibitor for KCNT1-related epilepsy, a rare genetic developmental and epileptic encephalopathy affecting an estimated 2,500 patients in the United States. ABS-1230 has received FDA Fast Track, Rare Pediatric Disease and Orphan Drug Product designations and is being evaluated in the Phase 1b/2a KYRON trial. The transaction includes a carve-out structure allowing Actio's other programs, including ABS-0871 for Charcot-Marie-Tooth disease type 2C, to continue as an independent privately held company in which Jazz will retain a minority stake.