- 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.
Click here to read full press release/ article | Ref: PRNewswire | Image: CBC