DUBLIN and NEWPORT BEACH, Calif., Sept. 14, 2018 /PRNewswire/ -- Allergan plc
(NYSE: AGN), a leading global pharmaceutical company, today
announced it has agreed to acquire Bonti, Inc., a privately held
clinical-stage biotechnology company focused on the development and
commercialization of novel, fast-acting neurotoxin programs for
aesthetic and therapeutic applications.
Following completion of the acquisition, Allergan will obtain
global rights to Bonti's pipeline consisting of two botulinum
neurotoxin serotype E (BoNT/E) programs currently in Phase 2
development, EB-001A (aesthetic) and EB-001T (therapeutic). The
active ingredient in both programs, EB-001, is a novel botulinum
neurotoxin serotype E (BoNT/E) with a unique clinical profile,
characterized by a rapid onset of action within 24 hours and a 2 to
4-week duration of effect. Bonti recently announced topline results
of the first clinical study of EB-001 in glabellar frown lines. The
study confirmed both the safety and efficacy of the differentiated
profile.
In the U.S. there are currently approximately 65 million
consumers who are considering facial injectable treatments,
including some who may be interested in being treated with a faster
acting shorter-duration product.
"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," said
Brent Saunders, Chairman and CEO of
Allergan. "With the Medical Aesthetics market vastly expanding, a
fast-acting neurotoxin with a 2 to 4-week duration will be an
attractive option for consumers, particularly those who are
considering a Medical Aesthetics treatment for the first time."
"We're excited about the development and commercial prospects
for our novel programs within Allergan's leading Medical Aesthetics
portfolio," commented Fauad Hasan,
CEO and co-founder at Bonti. "The promise of benefitting more
consumers worldwide with our novel neurotoxin programs plus
Allergan's stature and resources in this market will help realize
our team's and investors' aims. We could not envision a more
compelling acquirer or better strategic fit."
Allergan will acquire Bonti for an upfront payment of
$195M and additional
potential commercial milestone payments, subject to certain
adjustments and other customary closing conditions.
About Bonti
Bonti, based in Newport Beach, CA,
is an innovative clinical-stage biotechnology company focused on
the development and commercialization of novel, fast-acting
neurotoxin products for aesthetic and therapeutic applications. By
turning the science of neurotoxins into beneficial patient and
healthcare provider solutions, Bonti seeks to improve lives by
successfully addressing key unmet needs in markets with significant
addressable opportunities.
About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global
pharmaceutical leader. Allergan is focused on developing,
manufacturing and commercializing branded pharmaceutical, device,
biologic, surgical and regenerative medicine products for patients
around the world.
Allergan markets a portfolio of leading brands and best-in-class
products for the central nervous system, eye care, medical
aesthetics and dermatology, gastroenterology, women's health,
urology and anti-infective therapeutic categories.
Allergan is an industry leader in Open Science, a model of
research and development, which defines our approach to identifying
and developing game-changing ideas and innovation for better
patient care. With this approach, Allergan has built one of the
broadest development pipelines in the pharmaceutical industry.
Allergan's success is powered by our global colleagues'
commitment to being Bold for Life. Together, we build bridges,
power ideas, act fast and drive results for our customers and
patients around the world by always doing what is right.
With commercial operations in approximately 100 countries,
Allergan is committed to working with physicians, healthcare
providers and patients to deliver innovative and meaningful
treatments that help people around the world live longer, healthier
lives every day.
For more information, visit Allergan's website
at www.Allergan.com.
Forward-Looking Statement
Statements contained in this press release that refer to future
events or other non-historical facts are forward-looking statements
that reflect Allergan's current perspective on existing trends and
information as of the date of this release. Actual results may
differ materially from Allergan's current expectations depending
upon a number of factors affecting Allergan's business. These
factors include, among others, the difficulty of predicting the
timing or outcome of FDA approvals or actions, if any; the impact
of competitive products and pricing; market acceptance of and
continued demand for Allergan's products; the impact of uncertainty
around timing of generic entry related to key products on our
financial results; risks associated with acquisitions and mergers;
uncertainty associated with financial projections, projected
synergies and restructurings; difficulties or delays in
manufacturing; and other risks and uncertainties detailed in
Allergan's periodic public filings with the Securities and Exchange
Commission, including but not limited to Allergan's Annual Report
on Form 10-K for the year ended December 31,
2017 and Allergan's Quarterly Report on Form 10-Q for the
period ended June 30, 2018. Except as
expressly required by law, Allergan disclaims any intent or
obligation to update these forward-looking statements.
CONTACTS:
Allergan:
Investors:
Daphne
Karydas
(862) 261-8006
Karina Calzadilla
(862) 261-7328
Media:
Amy Rose
(862) 289-3072
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SOURCE Allergan plc