Allergan has entered into an exclusive licensing agreement with Mimetogen Pharmaceuticals, a clinical-stage biotechnology company, to develop and commercialize tavilermide, a topical formulation of a small-molecule TrkA agonist for the treatment of dry eye disease, in Phase III development. 

Under the agreement, Allergan will make an upfront payment of $50 million to Mimetogen and will fund Phase III development of tavilermide. Mimetogen will additionally be entitled to receive potential milestone payments and royalties based on commercialization of the product.

Tavilermide, a small cyclic peptidomimetic of nerve growth factor, induces the production of mucin, a naturally occurring component of the tear film, which wears down in dry-eye disease.

Source: Allergan