Shots:

• Bausch Health enter in an agreement to acquire an option to purchase all ophthalmology assets of Allegro- including global rights for Luminate (risuteganib) and ALG-1007 (currently in P-II study outside the US)
• Allegro will receive $50M as option payment in two tranches- with the first payment of $10M upon signing. The company intends to raise additional funding- following which- Bausch Health will make a second payment of $40M- expected to be made in 2021
• If Bausch Health exercises the option- additional payments will be payable. Risuteganib is an investigational integrin-regulating therapy having the potential to reduce mitochondrial dysfunction involved in intermediate dry AMD with two P-III studies expected to begin within the next 12mos.

­ Ref: PRNewswire | Image: CBC