Rare disease biotech Raptor Pharmaceutical ($RPTP) signed a deal to pay up to $418 million to Tripex Pharmaceuticals in exchange for an inhaled treatment for cystic fibrosis. The twice-a-day drug, Quinsair, is approved in the EU and Canada to treat pulmonary infections tied to CF, and Raptor expects to launch it in both territories next year. The company said it is also planning to "discuss the path to potential approval" with the FDA in 2016. Raptor is paying $68.4 million up front for the drug and promising another $350 million more if Quinsair comes through on some development, regulatory and commercial milestones. More