Jazz Pharmaceuticals agreed to acquire Actio Biosciences in a deal valued at just over $1.3 billion, consisting of $820 million upfront plus up to $500 million in milestone payments tied to regulatory and sales goals. Actio’s lead asset ABS-1230 targets the KCNT1 ion channel for KCNT1+ epilepsy, a genetic epilepsy subtype with no FDA-approved therapies. Under the transaction terms, Jazz expects to close in the final three months of the year. Alongside the deal, Actio will spin out additional programs, including an ion channel inhibitor being tested for Charcot-Marie-Tooth-related disease. For Jazz, the acquisition extends its epilepsy focus and adds a new precision medicine profile to a pipeline that already includes Epidiolex. The deal also reflects continued investor interest in venture-backed rare disease companies where differentiation and regulatory catalysts can drive outsized outcomes.