Jazz Pharmaceuticals (JAZZ) said Monday it agreed to purchase Actio Biosciences for an initial $820 million payment alongside as much as $500 million in conditional milestone payments, closing Q4.

The takeover brings in an experimental precision drug currently undergoing clinical trials to treat a severe genetic epilepsy disorder, the company said.

The arrangement includes spinning off a separate independent entity focused on other neurological conditions where Jazz will hold a minority equity position, Jazz Pharmaceuticals said.

Shares of the company were up 1% in Monday premarket activity.