Bausch Health Acquires Option to Purchase Allegro’s Ophthalmology Assets

 Bausch Health Acquires Option to Purchase Allegro’s Ophthalmology Assets

Bausch Health Acquires Option to Purchase Allegro’s Ophthalmology Assets

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.

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

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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