Allergan PLC, the Botox maker to treat wrinkles, agreed to buy Kythera Biopharmaceuticals Inc., which focus on the aesthetic medicine market, for about $2.1 billion in cash and equity transaction valued at $75 per Kythera share.
The fixed-value transaction consideration will be payable 80 percent in cash and 20 percent in new AGN shares issued to Kythera shareholders.
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The acquisition of Kythera immediately enhances Allergan’s global facial aesthetics portfolio with Kybella, deoxycholic acid injection, non-surgical treatment for contouring moderate to severe double chin.
Kybella was approved by the U.S. Food and Drug Administration (FDA) on April 29, 2015 and submited for regulatory approval in Switzerland, Canada and Australia, with other market applications to follow.
The acquisition will also add onther product setipiprant (KYTH-105), a novel compound for the prevention of male pattern baldness, as well as additional early-stage development candidates.
Allergan was acquired by Actavis in a $66 billion deal from last November. That deal outbid a $53 billion offer from Valeant Pharmaceuticals (VRX). Actavis changed its name to Allergan upon closing the deal.
looking for the Jewish involvement in this deal ?
Dr. Nathaniel David, a scientist and entrepreneur, who co-founded a series of technology, biotechnology and sustainable energy sectors, including Syrrx (acquired by Takeda Pharmaceutical Company, Achaogen, Sapphire Energy and Kilimanjaro Energy. He is also co-founder of Kythera Biopharmaceuticals (NASDAQ: KYTH) in 2005,
Dr David served as Chief Science Officer of Kythera for four years, “during which time two first-in-class drugs entered human clinical trials—ATX-101, a fat destroying drug with worldwide sales projected to be in excess of $1B annually, is currently in Phase III clinical trials in ten countries and is partnered with Bayer AG outside of North America.
ATX-104, an ‘injectable implant’ that, if approved, would have enabled the creation of any convex feature on the human face, was the co-invention of David and Johns Hopkins University professor Dr. Jennifer Elisseeff. This material can be injected into people, shaped, and then locked into any desired shape with light, enabling the rapid and non-invasive alteration of human appearance. ATX-104 entered clinical development but was later withdrawn due to the development of foreign body responses. Kythera Biopharmaceticals went public in October 2012 ([5]) on the NASDAQ exchange under the ticker symbol KYTH”. (Wikipedia )
In 2007, while still serving as Chief Science Officer at Kythera, David co-founded Sapphire Energy…
