Allergan Buys US Chase Pharmaceuticals
Irish drugmaker Allergan has beefed up its pipeline for neurodegenerative disorders with the acquisition of US-based Chase Pharmaceuticals. Under the terms of the deal, Allergan has paid Chase an upfront fee of $125 million, but this could rise to $1 billion if all potential regulatory and sales milestone payment targets are reached.
Chase's lead compound, CPC-201, which combines the most commonly prescribed acetylcholinesterase inhibitor (AChEI), donepezil, and the peripherally acting cholinergic blocker, solifenacin, is being investigated as a potential treatment for patients suffering from Alzheimer's. AChEIs have been shown to improve cognition in Alzheimer’s patients but those that are currently approved are only modestly effective because of dose-limiting side effects that include diarrhea, nausea and vomiting.
The biopharma’s next-generation formulation of donezepil is said to offer the possibility of greater and more tolerable dosing, and may provide the potential for significantly improved cognition and function in patients. David Nicholson, Allergan’s chief research & development officer, said the acquisition adds a new Phase 3 ready program for Alzheimer’s disease to its central nervous system (CNS) portfolio and builds on its commitment to develop innovative approaches to help patients suffering from the devastating illness. Allergan intends to take CPC-201 into a single Phase 3 registration study in 2017.
The Dublin-based firm has made several acquisitions since its failed merger with Pfizer earlier this year. Recent purchases include AstraZeneca’s Crohn’s disease drug MEDI2070, and US biotech firms Tobira Therapeutics, Retrosense Therapeutics and Akarna Therapeutics.
