South Plainfield-based PTC Therapeutics Inc. announced it has acquired Agilis Biotherapeutics Inc., a biotechnology company focused on gene therapies for rare genetic disorders of the central nervous system.
“We are excited to complete the acquisition and welcome the Agilis employees to PTC,” Stuart W. Peltz, CEO, PTC Therapeutics, said. “We have added a team with exceptional gene therapy experience, a targeted micro-delivery gene therapy platform that has demonstrated durable clinical benefit, as well as gene therapy manufacturing and R&D capabilities. This acquisition deepens our pipeline and, as a combined organization, we will be able to optimally treat more rare disorders and accelerate the process of bringing important new therapies to patients worldwide.”
Under terms of the deal, PTC will add the gene therapy GT-AADC, an adeno-associated virus that treats an amino acid deficiency. The acquisition also includes gene therapy programs in development.
Financial terms were not disclosed.