PTC spends USD 200 million on takeover of Agilis



PTC Therapeutics is paying USD 200 million for the acquisition of Agilis Biotherapeutics.This settlement provides PTC with ownership rights to a gene therapy for rare deficiency of AADC in a neurotransmitter-related disease.

The new therapy is to undergo evaluation by FDA the following year. The scientists from Agilis have devoted the last eight years of their effort to analysing the progress of patients treated with the therapy.The therapy seeks to reverse serious health problems resulting from a shortage of the enzyme aromatic L-amino acid decarboxylase through correcting the underlying molecular defect. After having obtained a licence for the gene therapy from National Taiwan University, Agilis launched its preparations for having the drug approved by FDA.Thereafter, PTC offered to pay an initial amount of USD 50 million and USD 150 million within subsequent rounds of financing.

"PTC provides a global infrastructure and proven capabilities, which we believe will enable our goal of providing therapy to patients suffering from rare CNS disorders," said the CEO of Agilis Mark Pykett in his statement,  adding that he was much looking forward to joining PTC in order to support the development of the therapy that provides patients with relief.

However, it needs to be noted that the activity of PTC in New Jersey does not always yield success.FDA recently rejected Duchenne - a drug targeted at muscular dystrophy - pointing out at the necessity to generate data concerning the production of dystrophin prior to undertaking another testing.

Source: fiercebiotech

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