Date: 2016-09-20
Type of information: Company acquisition
Acquired company: Akarna Therapeutics (UK - USA - CA)
Acquiring company: Allergan (Ireland)
Amount: up-front payment of $50 million and potential clinical, regulatory and commercial milestone payments
Terms: * On September 20, 2016, Allergan announced that the Company has acquired Akarna Therapeutics , a privately held biopharmaceutical company focused on developing novel small molecule therapeutics that target inflammatory and fibrotic diseases, for an up-front payment of $50 million , subject to certain adjustments, as well as potential clinical, regulatory and commercial milestone payments related to its lead development compound, AKN-083. In addition to AKN-083, the acquisition also includes a portfolio of additional development-stage FXR compounds.
Details: Akarna Therapeutics is a privately held biopharmaceutical company focused on developing novel small molecule therapeutics that target inflammatory and fibrotic diseases. The company has developed AKN-083, a potentially best-in-class preclinical farnesoid X receptor (FXR) agonist in development for the treatment of NASH, and a portfolio of additional development-stage FXR compounds. FXR is a nuclear hormone receptor expressed in the liver, intestine, kidney and fat (adipose) tissue. FXR is a master regulator of carbohydrate and lipid metabolism, bile-acid homeostasis, inflammation and fibrosis, all of which are associated with the pathology and progression of NASH. FXR is a clinically validated target for NASH and other liver diseases, such as primary biliary cirrhosis (PBC).
AKN-083 is highly complementary to compounds in development by Tobira Therapeutics , cenicriviroc (CVC) and evogliptin. Allergan announced the acquisition of Tobira earlier.
Related: Hepatic diseases Liver diseases
