Tuesday, July 19, 2011
Allergan Buys Vicept Therapeutics
Irvine-based Allergan said this morning that it has acquired Vicept Therapeutics, a developer of a compound for treating the erythema of rosacea. According to Allergan, it will pay $75M in cash up front, plus up to $200M in earnout dependent on future development and regulatory milestones for Vicept Therapeutics. Vicent is currently in Phase II studies for its lead compound. Vicent Therapeutics is venture backed by Vivo Ventures, Fidelity Biosciences and Sofinnova Ventures.