Allergan plans to develop novel treatments for non-alcoholic steatohepatitis (NASH) and other liver diseases through the acquisition of Akarna Therapeutics. The acquisition has been completed for a purchase consideration of $50m.
Pursuant to the acquisition, Allergan will gain all rights to AKN-083 and a portfolio of additional development stage FXR compounds. Akarna Therapeutics will receive additional clinical, regulatory, developmental and commercialisation milestones of its drug candidate.
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Walvax Biotechnology, a bio-pharmaceutical vaccination product provider, has announced to sell 85% shares in Shandong Shijie Biological Technology.
Walvax Biotechnology expects to receive gross proceeds of up to $104.5m from the transaction.
