Allergan Inc. (AGN) has bought global rights to Taris Holdings
LLC's lead program for $67.5 million in cash upfront and about $225
million in commercial milestone payments, the companies said
Wednesday.
The program, LiRIS, is currently in Phase 2 trials for the
treatment of interstitial cystitis, also known as bladder pain
syndrome, which manifests as pain, pressure or burning in the
bladder.
"The acquisition of LiRIS(R) is an important addition to our
growing urology pipeline and, if approved, will provide a local
treatment for interstitial cystitis/bladder pain syndrome, which is
a debilitating bladder condition," said David E.I. Pyott,
Allergan's board chairman and chief executive officer.
Taris President and CEO Purnanand Sarma said the company will
now focus on new applications of its technology, including new
treatments for bladder cancer and other urology areas.
Allergan's shares, flat in recent after-hours trading, closed at
$154.90. Through Wednesday's closing, the company's stock was up
39% for the year.
Write to Maria Armental at maria.armental@wsj.com
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