Mergers and Acquisitions

Date: 2017-01-09

Type of information: Company acquisition

Acquired company: Lysosomal Therapeutics (USA - MA)

Acquiring company: Allergan (Ireland)

Amount:

Terms: • On January 9, 2017, Allergan and Lysosomal Therapeutics (LTI) announced that Allergan has purchased an exclusive option right to acquire LTI.  Under the option agreement, Allergan purchased an option right directly from LTI shareholders to acquire LTI following completion of a Phase 1b trial for LTI-291. In addition, Allergan will provide a separate upfront research and development payment. Allergan and LTI will establish a joint development committee to oversee the development activities for LTI-291. Additional terms were not disclosed. Covington & Burling LLP served as Allergan's legal counsel. Goodwin Procter LLP and Faber Daeufer & Itrato PC served as LTI's legal counsel.

Details:

• This transaction marks Allergan’s entry into Parkinson’s disease, an Important Adjacency to its CNS development pipeline.
• Lysosomal Therapeutics is focused on innovative small-molecule research and development in the field of neurodegeneration, yielding new treatment options for patients with severe neurological diseases. LTI-291, LTI's lead program, aims to stimulate the activity of glucocerebrosidase (GCase) in the brain. In several lysosomal storage diseases, the activity of GCase is reduced due to genetic mutations in the GBA1 gene. Importantly, approximately 5 to 10 percent of patients with Parkinson's disease have mutations of the GBA1 gene,and it is well documented that these patients have a more rapid progression of Parkinson's disease. Thus, it is hoped that activation of GCase by LTI-291 will impact the progression of PD in these patients.

Related: CNS diseases - Neurodegenerative diseases

Is general: Yes