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Zogenix To Pay $250m Upfront To Buy Modis For Ultra-Orphan Drug

The takeover will diversify Zogenix’s pipeline through the addition of MT1621, a drug that improved the probability of survival in patients with an inherited mitochondrial DNA depletion disorder.

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Zogenix Inc. has struck a deal to buy Modis Therapeutics Inc. for $250m upfront, giving it control of another late-phase rare disease drug to complement its lead product, Fintepla.

The planned takeover centers on MT1621, a deoxynucleoside substrate enhancement therapy that Modis is developing as a treatment for an...

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