Allergan has entered an agreement to acquire biotechnology company Bonti for an upfront payment of $195m along with other potential commercial milestone-based payments.
Bonti primarily develops and commercialises fast-acting neurotoxin products for therapeutic and aesthetic purposes. Allergan expects the acquisition to bolster its Medical Aesthetics business.
The terms of the agreement cover global rights to Bonti’s pipeline of two Phase II botulinum neurotoxin serotype E (BoNT/E) programmes called EB-001A (aesthetic) and EB-001T (therapeutic).
Both the programmes consist of a botulinum neurotoxin serotype E (BoNT/E), EB-001 as the active ingredient. EB-001 features a rapid onset of action within 24 hours and two to four-week duration of effect.
Top-line results from a clinical study for glabellar frown lines are said to have demonstrated a favourable safety and efficacy profile of EB-001.
Allergan chairman and CEO Brent Saunders 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 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.”
Allergen’s Medical Aesthetics portfolio comprises facial aesthetics such as dermal fillers and injectable muscle relaxant, and breast aesthetics under Natrelle brand.
Bonti CEO and co-founder Fauad Hasan said: “The promise of benefitting more consumers worldwide with our novel neurotoxin programs plus Allergan’s stature and resources in this market will help realise our team’s and investors’ aims.”
