July 20, 2018 / 1:44 PM / a month ago

BUZZ-PTC Therapeutics: Jumps on deal to buy Agilis Biotherapeutics

** Drug developer’s shares up nearly 9 pct at $40.07 in early trading on Friday

** PTCT says it will buy privately held biotech Agilis Biotherapeutics Inc to broaden its gene therapy pipeline

** Under terms of deal, PTC will pay $50 mln in cash and about $150 mln in PTC common stock

** PTC will pay up to an additional $60 mln in development milestones, up to $535 mln in regulatory milestones, and up to $150 mln in commercial milestones

** Agilis’ lead candidate is GT-AADC, for the treatment of a rare genetic disorder called AADC deficiency

** Deal expected to close in Q3 2018

** Including session’s gains, stock had risen more ~140 pct YTD (Reporting by Vibhuti Sharma in Bengaluru)

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