Global pharmaceutical company Allergan has announced that it will acquire US-based biotechnology company Bonti.
Bonti focuses on the development and commercialisation of neurotoxin programmes. Following the completion of the acquisition, Allergan will obtain global rights to two of Bonti’s botulinum neurotoxins; serotype E (BoNT/E) EB-001A (aesthetic) and EB-001T (therapeutic).
A statement released by Allergan explained that this BoNT/E is alleged to be characterised by a rapid onset of action within 24 hours, with a two to four week duration of effect. "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 expanding, a fast-acting neurotoxin with a two to four-week duration will be an attractive option for consumers, particularly those who are considering a medical aesthetics treatment for the first time," he added.
Allergan will acquire Bonti for $195 million as well as potential additional commercial milestone payments, which are subject to certain adjustments and other customary closing conditions.