JAN 09, 2014
Comprehensive Ophthalmology, Neuro-Ophthalmology/Orbit
Allergan and Medytox have closed a previously announced licensing agreement for the development and commercialization of neurotoxin product candidates in development.
Under the terms of the agreement, Allergan will pay Medytox an upfront cash payment of $65 million, and Medytox has granted Allergan exclusive rights worldwide outside of Korea to develop and, if approved, commercialize certain neurotoxin product candidates currently in development, including a potential liquid-injectable product.
Allergan has also agreed to make additional contingent payments, including up to an aggregate of $116.5 million upon achieving certain development milestones, up to an aggregate of $180.5 million upon achieving certain commercialization milestones, and royalties on product sales.