Allergan chief snaps up a rival biotech for $195M in cash, plus. Deal beefs up the aesthetics pipeline
Just after the start of the year, the crew of ex-Allergan execs that launched Bonti raised more than $15 million to back their development of a rival botulinum neurotoxin dubbed EB-001 for therapeutic and aesthetic uses.
And Allergan $AGN wants it.
The biopharma company has wrapped a deal to buy Bonti for $195 million upfront, marking a nice payback for the founders and investors, who had gathered a bit more than $36 million for the venture. There are milestones, but no one spelled it out in the release out Friday morning.
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