PTC Therapeutics has agreed a cash and stock deal to acquire Agilis Biotherapeutics, in a bid to broaden its gene therapy portfolio. The deal, which is expected to close by the end of this year, will give PTC Therapeutics access to Agilis’s proprietary technology for developing new therapies. The FDA awards these vouchers to companies that develop drugs for neglected diseases and rare pediatric disorders. Through the terms of the acquisition, PTC will pay $50m in cash and a further $150m in shares, and if Agilis wins FDA approval, it could receive a further $595m.
PTC Therapeutics has agreed a cash and stock deal to acquire Agilis Biotherapeutics, in a bid to broaden its gene therapy portfolio. The deal, which is expected to close by the end of this year, will give PTC Therapeutics access to Agilis’s proprietary technology for developing new therapies. Through the terms of the acquisition, PTC will pay $50m in cash and a further $150m in shares, and if Agilis wins FDA approval, it could receive a further $595m.