Harmony Biosciences acquires Epygenix

Shares of US developer of rare neurological drugs Harmony Biosciences (Nasdaq: HRMY) rose more than 10% to $32.30 today, after it announced the acquisition of Epygenix Therapeutics, accelerating its growth strategy by adding a rare epilepsy franchise to its expanding late-stage pipeline of innovative central nervous system (CNS) assets.

"The acquisition of Epygenix gives us three distinct CNS franchises in late-stage development, each with a potential US peak sales opportunity of $1B-$2B," said Dr Jeffrey Dayno, president and chief executive at Harmony Biosciences. "We have been strategically building a robust and diverse pipeline of innovative CNS assets for rare diseases that has transformed our business. This acquisition builds on our leadership position in sleep/wake and our franchise in neurobehavioral disorders, allowing us to leverage our expertise in CNS and internal synergies to deliver new therapies to patients with unmet medical needs," he noted.

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