Allergan to acquire Motus Therapeutics for $200m

Allergan will acquire biopharmaceutical company Motus Therapeutics, a wholly-owned subsidiary of Rhythm Holding Company, for $200 million.

Motus develops peptide therapeutics for the treatment of gastrointestinal (GI) disorders, including Relamorelin.

Relamorelin is being developed for the treatment of diabetic gastroparesis, a chronic stomach condition.

Bart Henderson, president and founder of Rhythm Holding, said in a statement: “We are very excited that Allergan has exercised its option to acquire Motus and that Relamorelin will now advance into phase 3 trials.”

He added: “Relamorelin has enormous potential to improve the lives of patients with GI functional disorders, and Allergan has the skill and resources to develop and commercialise this promising drug to its fullest potential.”

Keith Gottesdiener, CEO of Rhythm Holding, said: “The need for better treatments for diabetic gastroparesis is urgent. This is a devastating condition that affects several million people in the US, with only one drug approved by the Food and Drug Administration in the past 30 years.”

He added: “We thank everyone who has participated in this clinical trial. And we thank Allergan for joining with us to help advance this potentially breakthrough treatment for patients who may benefit from it.”

Allergan is expected to complete its acquisition of Motus by the end of 2016.