Allergan to acquire medical aesthetics company for $195m
Allergan has revealed plans to buy Bonti, a biotechnology company focused on medical aesthetics, for $195 million.
Under the agreement, Allergan will obtain global rights to California-based Bonti’s pipeline, which consists of two “botulinum neurotoxin serotype E (BoNT/E)” programmes that are currently in phase 2 development.
In a press release published on Friday, September 14, Allergan said that in the US, there are currently 65 million consumers who are considering facial injectable treatments.
Allergan currently sells injectable Botox (onabotulinumtoxinA).
Brent Saunders, chairman and CEO of Allergan, said that the acquisition is a strategic investment for the future of the company’s medical aesthetics business.
He added: “With the medical aesthetics market vastly 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.”
Fauad Hasan, CEO and co-founder at Bonti, noted: “The promise of benefitting more consumers worldwide with our novel neurotoxin programmes plus Allergan's stature and resources in this market will help realise our team’s and investors’ aims.”
In February, LSIPR reported that Allergan was set to acquire Australia-based Elastagen, a clinical-stage company focused on developing medical device products based on recombinant tropoelastin, for $95 million.
Elastagen has an advanced tissue repair platform based on tropoelastin, the building block of elastin—a key component of the skin, arteries and lungs that gives tissue its elasticity.
According to the Australian company, its tropoelastin is identical to that present in human tissue and has many potential clinical applications, including treatment for acne scars, stretch marks, aesthetic skin repair and surgical wound repair.
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories sent like this straight to your inbox.
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Adrian Tapping at atapping@newtonmedia.co.uk