Supernus Pharmaceuticals to acquire Miami biotech for up to $185M

Rockville-based Supernus Pharmaceuticals Inc. has reached a deal to acquire Miami-based Biscayne Neurotherapeutics in a deal worth up to $185 million.

Supernus (NASDAQ: SUPN), which specializes in creating therapies for central nervous system diseases, will pay $15 million upfront, followed by an additional $73 million based on development milestones and up to $95 million for sales milestones, according to an announcement. The deal is expected to close in the next few weeks.

The company did not immediately return a request for comment. We will update this post when we hear back.

Biscayne, a privately held clinical-stage biotech, is developing a novel treatment for epilepsy — a brain disorder that causes seizures. The deal gives the Rockville pharmaceutical company worldwide rights to its product candidate, which earned Orphan Drug designation from the Food and Drug Administration to treat a rare form of childhood epilepsy called Dravet Syndrome. It’s currently in the phase 1 clinical…

Read the full story from the Washington Business Journal.