Allergan Announces Acquisition Of Topokine Therapeutics, Highlights Fat Reduction Development Program
Allergan plc (NYSE: AGN) announced on Thursday it has entered into an agreement to acquire Topokine Therapeutics, a privately held, clinical-stage biotechnology that focuses on the development of topical medicines for fat reduction.
As part of the agreement, Allergan made an up-font payment of $85 million and will provide further success-based development and sales milestones for Topokine's XAF5 therapy, a topical agent in late-stage development for the treatment of steatoblepharon (under-eye bags).
Allergan noted that approximately 40 million Americans suffer from steatoblepharon, which makes their faces look older, tired, stressed or sad. In a recent Phase 2 trial, XAF5 met the primary endpoint of achieving a statistically significant and clinically meaningful reduction in under-eye bags.
"The acquisition of Topokine and its XAF5 technology adds an innovative technology to Allergan's industry leading mid-to-late stage pipeline of more than 70 programs and bolsters our leadership in medical aesthetics," said David Nicholson, executive vice president and president, Global Brands Research & Development at Allergan. "XAF5 has the potential to be the first topical fat reduction product for the treatment of steatoblepharon, a condition with no current therapeutic options available for patients. We look forward to continuing the outstanding development work conducted by the Topokine team to bring this innovative medical aesthetic treatment to market."
"Allergan is a leader in medical and facial aesthetics, with unparalleled commercial and development expertise in the medical aesthetics community and a laser-focus on innovation. These characteristics make Allergan ideally suited to continue the successful development and maximize the potential commercialization of XAF5," said Murat Kalayoglu, M.D., Ph.D., Topokine's chief executive officer and a board-certified ophthalmologist. "I am deeply appreciative of the commitment and dedication of our Topokine team that has championed the discovery and development of XAF5. We look forward to working with Allergan to ensure continued development success for XAF5 and realize a successful launch of the product."
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