PTC Therapeutics is looking to gene therapy in a bid to broaden its pipeline, scooping up privately held Agilis Biotherapeutics in a cash and stock deal.
South Plainfield, NJ-based PTC (NASDAQ: PTCT) will pay $50 million up front, plus $150 million in PTC shares, for Agilis. Agilis, based in Cambridge, MA, could get up to $595 million more depending on the progress of its three most advanced gene therapy programs, which target rare central nervous system disorders.
For those payments to kick in, Agilis will need to win FDA approvals for each of those three gene therapies, and get… Read more »
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