Harmony Makes Rare Disease Play with Potential $200M Zynerba Buyout

Harmony Biosciences on Monday moved to acquire Zynerba Pharmaceuticals in a bid to deepen and diversify its portfolio, particularly in rare neuropsychiatric disorders.

Under the acquisition agreement, Harmony will buy all outstanding shares of Zynerba for an aggregate value of $60 million to be paid in cash. The deal also includes a non-tradeable contingent value right worth up to $140 million in additional payments, which will be paid upon meeting certain milestones, including a successful Phase III trial and an FDA approval.