Date: 2016-04-21
Type of information: Company acquisition
Acquired company: Topokine Therapeutics (USA - MA)
Acquiring company: Allergan (Ireland)
Amount: $85 million and success-based development and sales milestones
Terms: * On April 21, 2016, Allergan announced that it has acquired Topokine Therapeutics, a privately held, clinical-stage biotechnology company focused on developing topical medicines for fat reduction. Under the terms of the agreement, Allergan acquired Topokine Therapeutics for an upfront payment of $85 million and success-based development and sales milestones for XAF5 , a first-in-class topical agent in late-stage development for the treatment of steatoblepharon, also known as undereye bags. Topokine's investors include Schooner Capital , a Boston -based private investment firm engaged in venture capital, growth equity and alternate asset investments. Leerink Partners LLC acted as financial advisor to Topokine. Covington & Burling LLP acted as legal advisor to Allergan and Foley Hoag LLP acted as legal counsel to Topokine.
Details: Topokine Therapeutics has developed XAF5 , a first-in-class topical agent in late-stage development for the treatment of steatoblepharon, also known as undereye bags. Applied to the lower eyelids once nightly, XAF5 penetrates the skin and acts pharmacologically on fat cells to shrink undereye bags. In XOPH5-OINT-2, 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 XOPH5-OINT-3, a pivotal Phase 2b/3 study of XAF5 .
Related: Ophtalmological diseases Aesthetic medicine
