To develop neurotoxin products including a liquid-injectable treatment
US-based specialist pharmaceutical firm Allergan has entered into a licensing agreement with biopharmaceutical firm Medytox of Korea to develop certain neurotoxin product candidates currently in development.
The deal includes a potential liquid-injectable product.
Allergan will pay Medytox US$65m up front, in addition to a possible $116.5m in development milestones plus another $180.5m in sales milestones.
Under the agreement, Medytox will grant Allergan exclusive rights, worldwide outside Korea, to the new drugs.
The transaction closure is dependent on obtaining certain government approvals.
