Allergan announces takeover of Chase Pharmaceuticals

Allergan has announced the acquisition of Chase Pharmaceuticals in a deal worth an initial $125 million (100.4 million pounds).

Chase is a clinical-stage biopharmaceutical company focused on the development of improved treatments for neurodegenerative disorders, including Alzheimer's disease. This deal sees Allergan take ownership of CPC-­201, Chase's promising lead compound.

This patent-protected therapy combines donepezil and solifenacin to help improve cognition in Alzheimer's disease patients, with phase II studies showing it is able to do so without a significant risk of dose-limiting adverse events.

As such, formulations of this kind offer a prospect of greater and more tolerable dosing, leading to significantly improved cognition and function in Alzheimer's disease patients.  

David Nicholson, chief research and development officer at Allergan, said: "This acquisition adds a new phase III-ready program for Alzheimer's disease to our central nervous system portfolio and builds on our commitment to develop innovative approaches to improve the lives of millions of patients suffering from this devastating illness."

In addition to the upfront $125 million fee, the deal includes a number of potential regulatory and sales milestone payments related to CPC-201 and certain backup compounds.

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