Dublin-based global pharmaceutical company Allergan plc, which has its U.S. headquarters in Madison, has agreed to purchase biotech firm Bonti Inc. for more than $195 million, it announced recently.
The deal for the California-based company gives Allergan global rights to Bonti’s pipeline of drugs, which includes two neurotoxin programs for aesthetic and therapeutic applications.
Allergan will make an upfront payment of $195 million, and potential commercial milestone payments depending upon the therapies’ success.
“The acquisition of Bonti is a strategic investment for the future of our Medical Aesthetics business, and has the potential to enhance our best-in-class Medical Aesthetics pipeline,” Brent Saunders, Allergan’s chairman and CEO, said in a prepared statement. “With the Medical Aesthetics market vastly expanding, a fast-acting neurotoxin with a two- to four-week duration will be an attractive option for consumers, particularly those who are considering a Medical Aesthetics treatment for the first time.”
Allergan, whose products include the Botox treatment, said Bonti has two botulinum neurotoxin serotypes in Phase 2 development, which potentially offer a rapid onset of action within 24 hours and a two- to four-week duration.
