Har­mo­ny looks to buy rare dis­ease drug de­vel­op­er in deal worth up to $200M

Har­mo­ny Bio­sciences is pay­ing $60 mil­lion in cash to get its hands on Zyner­ba Phar­ma­ceu­ti­cals and a ther­a­py it’s de­vel­op­ing to treat two rare dis­eases.

The com­pa­ny an­nounced in a press re­lease Mon­day that the boards of both com­pa­nies had unan­i­mous­ly agreed to Har­mo­ny’s pro­posed ac­qui­si­tion of Zyner­ba. Har­mo­ny is of­fer­ing $60 mil­lion in cash to ac­quire all out­stand­ing shares of Zyner­ba, which av­er­ages out to rough­ly $1.10 per share.

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