Allergan acquisition of Bonti : Irish pharma company Allergan will acquire Bonti, a US aesthetic company, engaged in the development of fast-acting neurotoxin programs for aesthetic and therapeutic applications, in a deal worth over $195 million.
Allergan Acquisition of Bonti | US Aesthetic Company in $195m Deal
As per the terms of the Allergan acquisition of Bonti, the US aesthetic company will receive $195 million as upfront payment and in the future will be entitled to additional payments based on commercial milestones.
The deal will give Allergan, worldwide rights to a pipeline comprising a couple of botulinum neurotoxin serotype E (BoNT/E) programs – EB-001A (aesthetic) and EB-001T (therapeutic) of the US aesthetic company, which are in phase 2 development as of now.
Fauad Hasan – CEO and co-founder at Bonti, commenting on Allergan acquisition of Bonti, said: “We’re excited about the development and commercial prospects for our novel programs within Allergan’s leading Medical Aesthetics portfolio.
“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.”
In both the EB-001A and EB-001T programs, the active ingredient is EB-001, which is a botulinum neurotoxin serotype E (BoNT/E) with a unique clinical profile. EB-001 is characterized by a rapid onset of action within 24 hours and a 2-4 week duration of effect, said Allergan.
EB-001T is intended for treating focal muscle pain, localized pain that can arise from muscle contractions and spasms. On the other hand, EB-001A is being developed initially for glabellar frown lines and scar reduction after Mohs micrographic surgery, or Mohs surgery, as per the US aesthetic company.
Recently, Bonti said that the first clinical trial of EB-001 in glabellar frown lines had demonstrated safety and also efficacy of the differentiated profile.
Commenting on Allergan acquisition of Bonti, Brent Saunders – Chairman and CEO of Allergan, said: “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.
“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.”