Mirum Pharmaceuticals has signed a definitive agreement to acquire a bile acid product portfolio from Travere Therapeutics in a deal valued at $445m.

The deal includes a $210m upfront payment and potential sales-based milestone payments of $235m.

Mirum will purchase Travere’s rights to Cholbam (cholic acid), which received approval from the US Food and Drug Administration (FDA) to treat paediatric and adult patients with bile acid synthesis disorders resulting from single enzyme defects.

It was also approved as an adjunctive treatment for peroxisomal disorders in patients who also have liver disease.

The company will also acquire the rights to Chenodal (chenodiol), a synthetic oral form of chenodeoxycholic acid with approval from the FDA to treat radiolucent stones in the gallbladder.

Chenodal is also being assessed in a Phase III clinical study for cerebrotendinous xanthomatosis.

Mirum president and CEO Chris Peetz stated: “This synergistic acquisition of the bile acid portfolio, along with the opportunity to sponsor the genetic testing programme, will help to reinforce our leadership position in paediatric hepatology.

“We look forward to building on the meaningful work initiated by the talented Travere team and delivering on our commitment to advancing research and bringing treatments to rare liver disease patients in need.”

Travere will also offer transitional services. Subject to regulatory clearance, the deal will be completed in Q3 2023.