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PTC Therapeutics is paying $200 million upfront to acquire Agilis Biotherapeutics. The deal gives PTC ownership of a gene therapy treatment for rare neurotransmitter disease AADC deficiency that is set to go before the FDA next year.
Biogen currently has the only product on the market approved to treat spinal muscular atrophy (SMA), in Spinraza, and that treatment is pretty central to the biotech’s portfolio, bringing in $364 million in revenue in the first quarter.