Allergan Makes Second NASH Buy with Akarna TherapeuticsBy
Allergan has acquired Akarna Therapeutics, a San Diego-based biopharmaceutical company focused on small-molecule therapeutics for inflammatory and fibrotic diseases, for an up-front payment of $50 million. The deal is subject to certain adjustments, as well as potential clinical, regulatory, and commercial milestone payments related to its lead development compound, AKN-083, a preclinical farnesoid X receptor (FXR) agonist in development for treating non-alcoholic steatohepatitis (NASH). The acquisition also includes a portfolio of additional development-stage FXR compounds.
This is the second NASH-based acquisition that Allergan has recently made. Earlier this month, Allergan agreed to acquire Tobira Therapeutics, a South San Francisco-based clinical-stage biopharmaceutical company focused on NASH and other liver diseases, for an upfront payment of $28.35 per share in cash and up to $49.84 per share in contingent value rights for a total potential consideration of up to $1.695 billion
Akarna Therapeutics’ AKN-083 drug candidate is complementary to cenicriviroc and evogliptin, compounds in development by Tobira Therapeutics.