Ireland-based Allergan plc (AGN - Free Report) has gained worldwide rights to RTGel delivery system technology for use with neurotoxins from privately held pharma company UroGen Pharma, for an upfront payment of $17.5 million.
RTGel technology was developed by New York based UroGen to promote ease of delivery into and retention of drugs in body cavities, including the bladder while preventing their rapid excretion. RTGel takes a liquid form at lower temperatures and converts into gel when heated. This special technology when formulated with an active drug, may improve efficacy of treatment of patients suffering from Overactive Bladder (OAB).
For patients suffering from OAB, a neurotoxin injection into the bladder is considered as a successful therapeutic option. Botox is a reputed neurotoxin.
Other than the upfront payment, Allergan will also be entitled to the development and commercial milestones as well as royalties on net sales.
This agreement is going to set milestones for patients suffering from OAB and related conditions. According to the company’s press release, over 30 million people in the U.S and over 200 million worldwide suffer from OAB. The unison of Botox and RTGel will deliver innovative and meaningful treatments for the disease.
Currently, Allergan carries a Zacks Rank #3 (Hold). Better-ranked stocks in the healthcare sector include Bioblast Pharma Ltd. , Geron Corporation (GERN - Free Report) , Exelixis, Inc. (EXEL - Free Report) . All the companies sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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