Baltimore-based Cerecor announced the acquisition of Ichorion Therapeutics, a New York–based biopharmaceutical company.

The deal includes an all-stock transaction worth up to $26.6 million, with potential for an additional $15 million in milestones, which could be paid in cash or stock.

Cerecror is headquartered downtown and is one of more than 20 publicly-traded biotech companies in Maryland. The seven-year-old company focuses on treatments for orphan disorders, which are diseases that affect fewer than 200,000 people worldwide. Earlier this year, the company brought on Peter Greenleaf, the former president of Gaithersburg-based MedImmue and CEO of Rockville-based Sucampo Pharmaceuticals, as CEO.

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