Allergan has closed a transaction to acquire worldwide rights to TARIS Biomedical’s lead program in a pharma deal.
LiRIS, which is currently in Phase 2 trials for the treatment of interstitial cystitis / bladder pain syndrome (IC/BPS).
Allergan paid $67.5 million in cash upfront.
Allergan has also agreed to pay up to an aggregate of $295 million in development milestone payments and up to an aggregate of $225 million in commercial milestone payments.
Prior to the closing of this transaction, TARIS spun out certain assets, including pipeline programs and intellectual property related to TARIS’ platform technology, to a new company funded by TARIS shareholders.
For further deal information visit Current Agreements (subscription required)
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