Allergan Boosts Aesthetics with Bonti Buy
Drugmaker Allergan is buying Bonti, a privately held, clinical-stage biotech based in Newport Beach, California, USA, that develops novel, fast-acting neurotoxin programs for aesthetic and therapeutic applications.
Under the deal, Allergan will gain global rights to Bonti’s pipeline of two botulinum neurotoxin serotype E (BoNT/E) programs currently in Phase II development, EB-001A (aesthetic) and EB-001T (therapeutic).
The active ingredient in both programs, EB-001, is a novel botulinum neurotoxin serotype E (BoNT/E) with a unique clinical profile that is characterized by a rapid onset of action within 24 hours and a two- to four-week duration of effect.
Allergan will pay $195 million upfront for Bonti as well as potential further sums on achieving commercial milestones, which are subject to certain adjustments and other customary closing conditions.
Brent Saunders, Allergan’s chairman and CEO, said the acquisition is a strategic investment with the potential to enhance its best-in-class medical aesthetics pipeline. He commented: “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."
Allergan noted that there are currently around 65 million consumers in the US who are considering facial injectable treatments.
Separately, the company has announced plans to open its first Medical Aesthetics Innovation Center in China in early 2019. Allergan is investing more than $14.7 million in the center, which will be located in the Chengdu High-Tech Zone and train more than 3,000 medical aesthetics professionals every year.
According to Allergan, China’s medical aesthetics market is growing at an “explosive” rate with the country currently unable to meet demand. A Deloitte 2017 report on China’s medical aesthetics market predicts an average growth rate of 22.7% from 2015 to 2020.
