Tobira, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for nonalcoholic steatohepatitis (NASH) and other liver diseases.
The acquisition expands Allergan’s global gastroenterology research and development pipeline to include Cenicriviroc and Evogliptin, two differentiated, complementary development programs for the treatment of the multi-factorial elements of NASH, according to a statement from Tobira. The acquisition also adds Evogliptin, an oral Dipeptidyl peptidase-4 inhibitor for the potential treatment of NASH.
Under the deal, a subsidiary of Allergan will issue a cash tender offer to buy outstanding shares of Tobira common stock for $28.35 per share, as well as one contingent value right to receive up to $49.84 per share in future payments based on the successful completion of certain development, regulatory and commercial milestones, according to Tobira.
Allergan expects to close the transaction by the end of this year.
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