The planned merger with Pfizer that collapsed on Wednesday has not left Allergen in despair, as it has managed to sign a deal worth $3.3 billion for its Alzheimer drug portfolio.Allergen Plc. recently has to witness Pfizer’s withdrawal from the deal that it had signed with the company for a merger to take place after the US Treasury changed its rules and regulation so that corporate inversion does not take place. The $160 billion merger did not take place as it was supposed to, but that did not leave the Irish Botox maker hopeless. It has managed to sign a deal with Heptares Therapeutics worth $3.3 billion for its Alzheimer’s portfolio.
Allergen Plc. Managed to get this deal only hour after the merger collapsed with the US drug maker, Pfizer. The Botox maker will have to pay the UK biotech company $125 million as soon as the deal was signed. Japan’s Sosei Group Corporation owns this biotech company entirely. The cash up front was not it; the UK Company will also gain access to many investigational neurodegenerative using the Heptares’ Star tech. $665 million worth of major payments will be made for the clinical trials to be successful.
Another $2.5 billion including royalties will be made depending on the commercial access of the drugs and medications. The pharmaceutical company has made another agreement of making investments of $50 million in a joint venture of research and development for new drugs and human tests. This deal is a relief to many of the investors who believed that they were doomed after the merger failed with the US drug maker thanks to the changes made by the US Treasury to remove loopholes and stop inversions.
The CEO of Allergen, Brent Saunders said that the company is going to act as soon as possible when it sees the correct opportunity that showed growth and profit in the future and even the right strategies and logic. This recent deal has three drugs which are in the early development stage, which might be able to cure the disease Alzheimer’s including symptoms such as psychosis. Two of these tests will involve tests on humans which will be difficult.
Heptares specializes is recognizing the shape of molecules on the surface of cells in the human body. These molecules are utilized as drug targets and are not easy to analyze as they are not stable once they have been taken out of their natural habitat. Thus advanced technology is used to design drugs that will help in researching and removing risks and side effects which come when drugs mix with other molecules in the system.
Allergen is not the first in the game that has managed to get a deal with the UK biotech giant many companies in the business have too including Pfizer, Teva Pharma Industries and even AstraZeneca. This is the biggest deal that has been signed by Heptares so far.
Allergen Plc. Managed to get this deal only hour after the merger collapsed with the US drug maker, Pfizer. The Botox maker will have to pay the UK biotech company $125 million as soon as the deal was signed. Japan’s Sosei Group Corporation owns this biotech company entirely. The cash up front was not it; the UK Company will also gain access to many investigational neurodegenerative using the Heptares’ Star tech. $665 million worth of major payments will be made for the clinical trials to be successful.
Another $2.5 billion including royalties will be made depending on the commercial access of the drugs and medications. The pharmaceutical company has made another agreement of making investments of $50 million in a joint venture of research and development for new drugs and human tests. This deal is a relief to many of the investors who believed that they were doomed after the merger failed with the US drug maker thanks to the changes made by the US Treasury to remove loopholes and stop inversions.
The CEO of Allergen, Brent Saunders said that the company is going to act as soon as possible when it sees the correct opportunity that showed growth and profit in the future and even the right strategies and logic. This recent deal has three drugs which are in the early development stage, which might be able to cure the disease Alzheimer’s including symptoms such as psychosis. Two of these tests will involve tests on humans which will be difficult.
Heptares specializes is recognizing the shape of molecules on the surface of cells in the human body. These molecules are utilized as drug targets and are not easy to analyze as they are not stable once they have been taken out of their natural habitat. Thus advanced technology is used to design drugs that will help in researching and removing risks and side effects which come when drugs mix with other molecules in the system.
Allergen is not the first in the game that has managed to get a deal with the UK biotech giant many companies in the business have too including Pfizer, Teva Pharma Industries and even AstraZeneca. This is the biggest deal that has been signed by Heptares so far.