Allergan plc announced the purchase of Topokine Therapeutics yesterday.
The $85 million purchase price includes Topokine and its product XAF5, which is in the last stage of development.
Topokine is a clinical-stage biotechnology company. Its latest product, XAF5, was developed to treat steatoblepharon. The condition, also known as undereye bags, has responded to nightly applications of XAF5. The medication penetrates the skin and shrinks the underlying fat cells. In the Phase II clinical trial, XAF5 made a significant difference in shrinking undereye bags. XAF5 is currently being evaluated in the XOPH5-OINT-3 Phase IIb/III study.
"The acquisition of Topokine and its XAF5 technology adds an innovative technology to Allergan's industry leading mid-to-late stage pipeline of more than 70 programs and bolsters our leadership in medical aesthetics," EVP and President, Global Brands Research & Development, David Nicholson said. "XAF5 has the potential to be the first topical fat reduction product for the treatment of steatoblepharon, a condition with no current therapeutic options available for patients. We look forward to continuing the outstanding development work conducted by the Topokine team to bring this innovative medical aesthetic treatment to market."