The deal also included success-based development, regulatory and sales milestones.
Under the terms of the agreement, Allergan obtains rights to AKN-083, Akarna’s lead product candidate for the potential treatment of non-alcoholic steatohepatitis (NASH) and other liver diseases.
Led by Dr. Raju Mohan, Chief Executive Officer, Akarna develops novel small molecule therapeutics that target inflammatory and fibrotic diseases for which there is no approved treatment. Its lead program is an FXR agonist for the treatment of non-alcoholic steatohepatitis (NASH), which is currently in preclinical, IND-enabling toxicology and safety pharmacology studies.
The company, which also has offices in San Diego, USA, was backed by New Science Ventures, LLC, Third Point Ventures, and Forbion Capital Partners.