Irish pharmaceutical giant Allergan has acquired Topokine Therapeutics, a US-based manufacturer of topical medicines for fat reduction, in a deal valued at $85m.

The deal value includes Topokine’s development and sales milestones for XAF5, a topical agent in late-stage development for the treatment of steatoblepharon, also known as undereye bags.

Steatoblepharon makes the face look older, tired, stressed or sad as it affects a key focal point of the face. It is found to cause psychosocial distress and has no current therapeutic options available.

XAF5 has the potential to be the first topical fat reduction product for the treatment of steatoblepharon. It is said to penetrate skin and acts pharmacologically on fat cells to shrink undereye bags.

"We look forward to continuing the outstanding development work conducted by the Topokine team to bring this innovative medical aesthetic treatment to market."

Topokine and its XAF5 technology will be an addition to Allergan’s mid-to-late stage pipeline of more than 70 programmes.

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Allergan global brands research and development executive vice-president and president, David Nicholson, said: "We look forward to continuing the outstanding development work conducted by the Topokine team to bring this innovative medical aesthetic treatment to market."

XAF5 has met the primary endpoint by achieving statistically significant and clinically meaningful reductions in undereye bags in a Phase II randomised, placebo-controlled clinical trial, XOPH5-OINT-2.

In January this year, Topokine initiated XOPH5-OINT-3, a pivotal Phase IIb / III study of XAF5.

Topokine CEO Murat Kalayoglu said: "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 maximise the potential commercialisation of XAF5."