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.
About Bonti Bonti, based in Newport Beach, CA, is an innovative clinical-stage biotechnology company focused on the development and commercialization of novel, fast-acting neurotoxin products for aesthetic and therapeutic applications. By turning the science of neurotoxins into beneficial patient and healthcare provider solutions, Bonti seeks to improve lives by successfully addressing key unmet needs in markets with significant addressable opportunities.
About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical leader. Allergan is focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world.
Allergan markets a portfolio of leading brands and best-in-class products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories.
Allergan is an industry leader in Open Science, a model of research and development, which defines our approach to identifying and developing game-changing ideas and innovation for better patient care. With this approach, Allergan has built one of the broadest development pipelines in the pharmaceutical industry.
Allergan's success is powered by our global colleagues' commitment to being Bold for Life. Together, we build bridges, power ideas, act fast and drive results for our customers and patients around the world by always doing what is right.
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 every day.
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 on existing trends and information as of the date of this release. 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 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; the impact of uncertainty around timing of generic entry related to key products on our financial results; risks associated with acquisitions and mergers; uncertainty associated with financial projections, projected synergies and restructurings; 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 Annual Report on Form 10-K for the year ended December 31, 2017 and Allergan's Quarterly Report on Form 10-Q for the period ended June 30, 2018. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.