Amryt aims to raise $60m in equity to fund the deal, which will also see Aegerion’s balance sheet restructured through the US Chapter 11 bankruptcy process.

The combined group’s global HQ will be in Dublin, Ireland with its US HQ in Boston, Massachusetts, and the combined group will be re-admitted to the AIM and Euronext Growth markets on closing, with a planned dual listing on the Nasdaq.

The deal could also help Novelion move on from the legal problems that have beset Aegerion, which got into serious trouble with US authorities because of some shady marketing practices for Juxtapid.

In late 2017 Aegerion had to pay the US government more than $35 million, in a civil, criminal, and administrative settlement to the US government for a raft of infringements including failure to comply with an FDA-mandated risk reduction strategy, and causing false claims to be submitted to federal health care schemes.

Amryt’s CEO Wiley said: “The acquisition of Aegerion accelerates our ambition to become a global leader in treating rare conditions to help improve the lives of patients where there is a high unmet medical need. By delivering two substantial revenue-generating products and an enhanced pipeline of promising development opportunities, this will significantly strengthen our growth in highly attractive markets globally.”

The deal has already been unanimously backed by the boards of Amryt, Novelion, and Aegerion, and is endorsed by 34.3% of Amryt’s shareholders and in excess of 67% of Aegerion’s bondholders.