Heptares, Allergan Ink Exclusive Licensing Agreement

An Allergan unit has inked an exclusive licensing agreement with Heptares Therapeutics to gain global rights to candidates targeting neurological disorders, such as Alzheimer’s disease.

Under the agreement, Heptares, a subsidiary of Sosei Group, will receive an upfront payment of $125 million, development milestones of up to $665 million and up to $2.5 billion contingent on meeting certain annual sales thresholds.

Additionally, Allergan is pouring $50 million into a joint R&D program to accelerate candidates through Phase 2 studies.