BioMarin Pharmaceutical Inc. said Tuesday it bought privately held biotechnology company Zystor Therapeutics Inc. in a deal potentially worth more than $115 million.
Under the deal, BioMarin paid $22 million upfront. Zystor is eligible to receive up to an additional $93 million if certain milestones are met. Zystor is developing ZC-701, a potential treatment for the enzyme disorder Pompe disease.
Shares of BioMarin rose 17 cents to close at $20.52.
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