(Reuters) -Drugmaker Supernus Pharmaceuticals said on Monday it will acquire Sage Therapeutics, which makes treatments for neurological conditions, in a deal worth up to $795 million. Shares of Sage Therapeutics were up over 34% in premarket trading.

Supernus Pharmaceuticals signed a definitive agreement to acquire fellow biopharmaceutical company Sage Therapeutics for $8.50 a share in a deal worth an initial $561 million.The terms of the deal also include one non-tradable contingent value right (CVR) payable upon achieving certain sales goals,

Supernus Pharmaceuticals (SUPN) acquires Sage Therapeutics (SAGE), enhancing its CNS portfolio with Zurzuvae's potential. Read my analysis on this acquisition.