Jazz Pharmaceuticals plc (Nasdaq: JAZZ) has announced a definitive agreement to acquire Actio Biosciences, Inc. for $820 million upfront, with an additional $500 million contingent on future milestones.
The acquisition includes Actio Biosciences' ABS-1230 asset, while a new private entity will be spun out, retaining certain management, employees, and assets.
This new company will be supported by existing investors, with Jazz holding a minority stake and associated rights.
The deal is anticipated to be finalized by the fourth quarter of 2026.
Jazz plans to finance the acquisition using a mix of cash reserves and existing credit facilities.
"The acquisition of ABS-1230 represents a highly strategic expansion of our rare epilepsy portfolio, building upon the global success of Epidiolex and deepening our leadership in rare and severe epilepsies," said Renee Gala, president and chief executive officer, Jazz Pharmaceuticals. "The emerging clinical profile of ABS-1230 is highly encouraging, and we look forward to closing the proposed transaction and collaborating with our new Actio Biosciences colleagues to address an urgent patient need. "