Pharmaceutical company buys global rights to topical product XAF5
Allergan, a global pharmaceutical company, has acquired Topokine Therapeutics, a biotechnology company that primarily develops topical products for fat reduction, for $85m.
The acquisition sees Allergan buy the global rights to XAF5, a topical product currently being developed to treat undereye bags or steatoblepharon.
XAF5 is said to act pharmacologically on fat cells to shrink bags when applied under the eyes. The product is backed up by trials; in a phase 2 randomised placebo-controlled trial, XAF5 achieved statistically significant and clinically meaningful reductions in undereye bags.
Undereye bags are estimated to affect 40 million people in the US. David Nicholson, Executive Vice President and President, Global Brands Research & Development at Allergan, said: “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 programmes and bolsters our leadership in medical aesthetics. 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."
Murat Kalayoglu, Topokine's CEO and a board-certified ophthalmologist, added: “Allergan is a leader in medical and facial aesthetics, with unparalleled commercial and development expertise in the medical aesthetics community and a laser-focus on innovation. These characteristics make Allergan ideally suited to continue the successful development and maximize the potential commercialization of XAF5. I am deeply appreciative of the commitment and dedication of our Topokine team that has championed the discovery and development of XAF5."