Allergan announces takeover of RetroSense Therapeutics

Allergan has agreed a deal to purchase RetroSense Therapeutics for an initial upfront fee of $60 million (44.86 million pounds).

The clinical-stage biotechnology company is focused on developing novel gene therapy approaches to restoring vision among patients suffering from blindness. This deal will see Allergan acquire substantially all of the assets of RetroSense in an all-cash transaction.

In addition to the $60 million upfront payment, Allergan has agreed to potential regulatory and commercialisation milestone payments related to RetroSense's lead development programme RST-001, a novel gene therapy for the potential treatment of retinitis pigmentosa.

This first-in-class gene therapy applies an optogenetic approach to retinas in which rod and cone photoreceptors have degenerated, thereby introducing additional light sensitivity to the retina.

Brent Saunders, chief executive officer and president of Allergan, said: "The acquisition of RetroSense and its RST-001 programme builds on Allergan's deep commitment to eye care, and our focus on investing in game-changing innovation for retinal conditions."

This comes after the firm agreed to purchase ForSight VISION5 for an upfront fee of $95 million last month.

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