Jazz Pharmaceuticals will acquire biotech firm Chimerix for about $935 million in cash to gain access to its lead drug candidate to treat a rare brain tumor, the companies said on Wednesday. Under the terms of the deal,

Jazz Pharmaceuticals has announced a definitive agreement to acquire Chimerix, a US-based biotech firm, for approximately $935m in cash. The deal, disclosed on Wednesday 5 March, will see Jazz pay $8.

Chimerix is currently awaiting an FDA decision on accelerated approval of a drug it’s developing for a type of glioma.