Zogenix to acquire Modis Therapeutics for $250m.

Zogenix, a global pharmaceutical company developing rare disease therapies, agreed to acquire Modis Therapeutics, a privately held biopharmaceutical company focused on developing novel therapies for rare genetic diseases, for $250m. “Zogenix shares our deep commitment to improving treatment options for patients with rare diseases,” said Joshua Grass, CEO of Modis Therapeutics. “This transaction reflects the strategic value of Modis and the results we have achieved with MT1621 to date, and we are confident that Zogenix is ideally positioned to complete development and bring MT1621 to patients in need as expeditiously as possible.”