DUBLIN, Nov. 25, 2015 /PRNewswire/ -- Allergan plc (NYSE: AGN), a leading global pharmaceutical company, and Rugen Therapeutics, a start-up biotechnology company focused on the development of novel treatments for unmet CNS disorders and funded by the F-Prime Biomedical Research Initiative (FBRI), today announced that they have entered into an exclusive collaboration to support the discovery and development of novel therapies for Autism Spectrum Disorders (ASD) and Obsessive Compulsive disorders (OCD).
Importantly, Allergan sought out this collaboration due to its passion and willingness to invest in people with ASD and their families and to identify ground-breaking therapeutic modalities to help them.
The collaboration is another example of Allergan's commitment to its Open Science model - developing promising products that frequently originate with smaller, innovative companies throughout the biopharma innovation ecosystem.
Under the terms of the agreement, Rugen received an upfront initiation fee at the outset of the collaboration, and is entitled to development stage initiation and success-based milestone payments for advancing compounds in development. Allergan will have the exclusive option to acquire all rights, including the worldwide intellectual property rights and other assets, related to the compounds following clinical proof of concept studies.
As part of the collaboration, Allergan and Rugen will jointly focus on the development of novel small molecule drug candidates. The research collaboration initially includes early stage compounds, which are first-in-class orally active molecules being developed for multiple CNS disorders. Rugen has demonstrated efficacy for its compounds in animal models of ASD and OCD.
"Allergan is committed to finding breakthrough therapies in areas where there are limited treatment options. Autism Spectrum Disorders and OCD are areas of medicine where there continues to be a substantial amount of unmet need in identifying and developing treatments for the underlying mechanisms of disease. For example, according to the Centers for Disease Control & Prevention,i one in 68 children has autism spectrum disease," said David Nicholson, Executive Vice President, Global Brands Research and Development at Allergan. "The compounds we are working to develop with Rugen are in preclinical development, but we are excited by the possibilities that these novel molecules may provide to physicians, patients and caregivers facing these disorders."
"Rugen was founded on the belief that recent advances in our fundamental understanding of psychiatric illnesses, led by genetic discoveries, will allow us to develop breakthrough therapeutics for devastating illnesses. We are thrilled that Allergan, a global leader in the development and commercialization of treatments for CNS diseases, recognizes our scientific capabilities in neuroscience and the promise of the series of new molecules we discovered and developed at Rugen. We have a highly committed and experienced partner in Allergan and look forward to working together to develop multiple new breakthrough medicines over the coming years," said Stacie Weninger, Executive Director of F-Prime Biomedical Research Initiative (FBRI).
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a unique, global pharmaceutical company and a leader in a new industry model – Growth Pharma. Allergan is focused on developing, manufacturing and commercializing innovative branded pharmaceuticals, high-quality generic and over-the-counter medicines and biologic products for patients around the world.
Allergan markets a portfolio of best-in-class products that provide valuable treatments for the central nervous system, eye care, medical aesthetics, gastroenterology, women's health, urology, cardiovascular and anti-infective therapeutic categories, and operates the world's third-largest global generics business, providing patients around the globe with increased access to affordable, high-quality medicines. Allergan is an industry leader in research and development, with one of the broadest development pipelines in the pharmaceutical industry and a leading position in the submission of generic product applications globally.
With commercial operations in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives.
For more information, visit Allergan's website at www.allergan.com.
About Rugen Therapeutics
Launched in 2013 and funded by the F-Prime Biomedical Research Initiative (FBRI), Rugen Therapeutics is a biotech company discovering and developing novel first-in-class small molecule drugs with the potential to address multiple psychiatric indications. Rugen's founders include Guoping Feng, PhD, Poitras Chair Professor, the Massachusetts Institute of Technology (MIT) and a member of the Broad Institute of MIT and Harvard University and Zhigang He, PhD, Professor, Children's Hospital Boston and Harvard Medical School.
About F-Prime Biomedical Research Initiative
The F-Prime Biomedical Research Initiative (FBRI) seeks to advance the discovery of novel therapeutic agents for the treatment of neurological disorders. FBRI supports this important work by funding early-stage research in academia and the private sector, thereby furthering innovative discoveries with the goal of transforming them into potential therapeutics.
Allergan Forward-Looking Statements
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Allergan's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Allergan's current expectations depending upon a number of factors affecting Allergan's business. These factors include, among others, the risks associated with acquisition transactions; the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; market acceptance of and continued demand for Allergan's products; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Allergan's periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan's Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 (such periodic public filings having been filed under the "Allergan plc" or "Actavis plc" names) and from time to time in Allergan's other investor communications . Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
i CDC Data and Statistics: http://www.cdc.gov/ncbddd/autism/data.html
Allergan: Investors: Lisa DeFrancesco (862) 261-7152
Media: Mark Marmur (862) 261-7558
SOURCE Allergan plc