Allergan Acquires Topokine Therapeutics, for $85M

Allergan plc (NYSE: AGN), a Dublin, Ireland-based pharmaceutical company, acquired Topokine Therapeutics, a Boston, MA-based clinical-stage biotechnology company, for an upfront payment of $85m.

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

Led by Murat Kalayoglu, MD, PhD, Chief Executive Officer and a board-certified ophthalmologist, Topokine is a clinical-stage biotechnology company developing topical prescription medications that act pharmacologically on adipocytes to contour the face and body. The company’s lead program, XAF5, is in late-stage clinical development for reduction of undereye bags (steatoblepharon).
Applied to the lower eyelids once nightly, XAF5 penetrates the skin and acts pharmacologically on fat cells to shrink undereye bags. In a Phase 2 randomized, placebo-controlled clinical trial, XAF5 met the primary endpoint achieving statistically significant and clinically meaningful reductions in undereye bags. In January 2016 Topokine initiated a pivotal Phase 2b/3 study of XAF5.

The company, whose assets are protected by more than 75 issued and pending patents worldwide, has been backed by Schooner Capital, a Boston-based private investment firm engaged in venture capital, growth equity and alternate asset investments.



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