PTC Therapeutics has agreed a cash and shares deal to acquire Agilis Biotherapeutics , in a bid to expand its gene therapy portfolio . The deal has already been approved by the boards of both companies. It focuses on gene therapy programmes that target rare central nervous system disorders , and is currently seeking FDA approval for its three most advanced therapies . Through the terms of the deal , it will pay $ 50 m in cash and a further $ 150 m in shares , and if Agilis wins FDA approval , it could receive a further $ 595 m .
PTC Therapeutics has agreed a cash and shares deal to acquire Agilis Biotherapeutics , in a bid to expand its gene therapy portfolio . It focuses on gene therapy programmes that target rare central nervous system disorders , and is currently seeking FDA approval for its three most advanced therapies . Through the terms of the deal , it will pay $ 50 m in cash and a further $ 150 m in shares , and if Agilis wins FDA approval , it could receive a further $ 595 m .