Allergan to Acquire Bonti Adding New Neurotoxin Programs to Medical Aesthetics Pipeline
- 2018-09-14
- By Allergan
DUBLIN and NEWPORT BEACH, Calif., Sept. 14, 2018 /PRNewswire/ -- Allergan plc (NYSE: AGN), a leading global pharmaceutical company, today announced it has agreed to acquire Bonti, Inc., a privately held clinical-stage biotechnology company focused on the development and commercialization of novel, fast-acting neurotoxin programs for aesthetic and therapeutic applications.
Following completion of the acquisition, Allergan will obtain global rights to Bonti's pipeline consisting of two botulinum neurotoxin serotype E (BoNT/E) programs currently in Phase 2 development, EB-001A (aesthetic) and EB-001T (therapeutic). The active ingredient in both programs, EB-001, is a novel botulinum neurotoxin serotype E (BoNT/E) with a unique clinical profile, characterized by a rapid onset of action within 24 hours and a 2 to 4-week duration of effect. Bonti recently announced topline results of the first clinical study of EB-001 in glabellar frown lines. The study confirmed both the safety and efficacy of the differentiated profile.
In the U.S. there are currently approximately 65 million consumers who are considering facial injectable treatments, including some who may be interested in being treated with a faster acting shorter-duration product.
"The acquisition of Bonti is a strategic investment for the future of our Medical Aesthetics business and has the potential to enhance our best-in-class Medical Aesthetics pipeline," said Brent Saunders, Chairman and CEO of Allergan. "With the Medical Aesthetics market vastly expanding, a fast-acting neurotoxin with a 2 to 4-week duration will be an attractive option for consumers, particularly those who are considering a Medical Aesthetics treatment for the first time."
"We're excited about the development and commercial prospects for our novel programs within Allergan's leading Medical Aesthetics portfolio," commented Fauad Hasan, CEO and co-founder at Bonti. "The promise of benefitting more consumers worldwide with our novel neurotoxin programs plus Allergan's stature and resources in this market will help realize our team's and investors' aims. We could not envision a more compelling acquirer or better strategic fit."
Allergan will acquire Bonti for an upfront payment of $195M and additional potential commercial milestone payments, subject to certain adjustments and other customary closing conditions.
Following completion of the acquisition, Allergan will obtain global rights to Bonti's pipeline consisting of two botulinum neurotoxin serotype E (BoNT/E) programs currently in Phase 2 development, EB-001A (aesthetic) and EB-001T (therapeutic). The active ingredient in both programs, EB-001, is a novel botulinum neurotoxin serotype E (BoNT/E) with a unique clinical profile, characterized by a rapid onset of action within 24 hours and a 2 to 4-week duration of effect. Bonti recently announced topline results of the first clinical study of EB-001 in glabellar frown lines. The study confirmed both the safety and efficacy of the differentiated profile.
In the U.S. there are currently approximately 65 million consumers who are considering facial injectable treatments, including some who may be interested in being treated with a faster acting shorter-duration product.
"The acquisition of Bonti is a strategic investment for the future of our Medical Aesthetics business and has the potential to enhance our best-in-class Medical Aesthetics pipeline," said Brent Saunders, Chairman and CEO of Allergan. "With the Medical Aesthetics market vastly expanding, a fast-acting neurotoxin with a 2 to 4-week duration will be an attractive option for consumers, particularly those who are considering a Medical Aesthetics treatment for the first time."
"We're excited about the development and commercial prospects for our novel programs within Allergan's leading Medical Aesthetics portfolio," commented Fauad Hasan, CEO and co-founder at Bonti. "The promise of benefitting more consumers worldwide with our novel neurotoxin programs plus Allergan's stature and resources in this market will help realize our team's and investors' aims. We could not envision a more compelling acquirer or better strategic fit."
Allergan will acquire Bonti for an upfront payment of $195M and additional potential commercial milestone payments, subject to certain adjustments and other customary closing conditions.