Allergan Acquires Akarna Therapeutics Adding to its Strong Development Program and Commitment to Innovation in NASH
– Acquisition Adds Global Rights to AKN-083, a Potentially Best-in-Class Preclinical FXR Agonist for the Treatment of NASH –
– NASH Fastest Growing Cause of Liver Cancer, Liver Transplant in the U.S.[i] –
— Acquisition Highly Complementary to Previously Announced Acquisition of Tobira Therapeutics’ NASH Development Compounds —
— Enhances Allergan’s Gastroenterology Pipeline and Growing International Presence in GI –
– Allergan to Hold Conference Call and Webcast Wednesday, September 21, 2016 at 8:30 a.m. ET to Discuss Recent R&D Acquisitions —
DUBLIN, Sept. 20, 2016 /PRNewswire/ — Allergan plc (NYSE: AGN), a leading global pharmaceutical company, today announced that the Company has acquired Akarna Therapeutics Ltd., a privately held biopharmaceutical company focused on developing novel small molecule therapeutics that target inflammatory and fibrotic diseases, for an up-front payment of $50 million, subject to certain adjustments, as well as potential clinical, regulatory and commercial milestone payments related to its lead development compound, AKN-083. In addition to AKN-083, the acquisition also includes a portfolio of additional development-stage FXR compounds.