Allergan strikes dry eye deal with Mimetogen

Allergan plc (NYSE:AGN) reported 3Q15 earnings and licensed dry eye candidate tavilermide ( MIM-D3) from Mimetogen Pharmaceuticals Inc. (Montreal, Quebec). Allergan did not give an update regarding merger talks with Pfizer Inc. (NYSE:PFE), which were disclosed last week (see BioCentury Extra, Oct. 29).

Allergan will acquire exclusive rights to tavilermide, a small molecule mimetic of nerve growth factor (NGF) in two Phase III trials to treat dry eye. Allergan markets dry eye drug Restasis cyclosporine. Mimetogen will receive $50 million up front and is eligible for undisclosed milestones; Allergan will fund Phase III development. The Bausch + Lomb Inc. unit of Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) had held an exclusive option to license tavilermide, but it expired last year (see BioCentury Extra, Sept. 11, 2014). ...