Biotech Values

[DewDiligence]

AGN buys (private) Topokine Therapeutics for $85M plus contingencies to obtain drug candidate for undereye bags:

http://finance.yahoo.com/news/allergan-acquires-topical-dermatology-company-203000500.html

Under the terms of the agreement, Allergan acquired Topokine Therapeutics for an upfront payment of $85 million and success-based development and sales milestones for XAF5, a first-in-class topical agent in late-stage development for the treatment of steatoblepharon, also known as undereye bags.

Applied to the lower eyelids once nightly, XAF5 penetrates the skin and acts pharmacologically on fat cells to shrink undereye bags. An estimated 40 million Americans have steatoblepharon, which can make the face look older, tired, stressed or sad.

In XOPH5-OINT-2, a Phase 2 randomized, placebo-controlled clinical trial, XAF5 met the primary endpoint achieving statistically significant and clinically meaningful reductions in undereye bags. In January 2016 Topokine initiated XOPH5-OINT-3, a pivotal Phase 2b/3 study of XAF5.

This is a great pickup for AGN, IMO; Botox/Voluma injectors are an ideal platform for prescribing an undereye-bag drug.