Irish pharmaceutical company Allergan has entered an option agreement with the shareholders of US-based Lysosomal Therapeutics (LTI), giving the former the right to acquire the latter.
LTI is engaged in small-molecule research and development targeting neurodegeneration diseases.
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The acquisition will take place upon completion of a Phase I b trial for LTI-291, LTI’s lead programme that targets Parkinson’s Disease.
Allergan will make an upfront research and development payment for the drug candidate, as part of the agreement and the two companies will form a joint committee that will oversee LTI-291’s development.
Allergan expects to enter the Parkinson’s Disease market through the acquisition.
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US-based biotechnology company ForSight VISION4 has been acquired by Roche Holdings for an upfront payment in addition to earn-out payments based on the achievement of certain development and commercial milestones.
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