Thursday, August 6, 2015
Allergan, a global pharmaceutical company, has agreed to acquire Kythera Biopharmaceuticals, a Westlake Village, Calif.-based biopharmaceutical company, in a cash and equity transaction valued at $75 per Kythera share, or approximately $2.1 billion, subject to the fulfillment of certain customary conditions.
Kythera Biopharmaceuticals has acquired all rights outside of the U.S. and Canada to ATX-101, a proprietary formulation of a purified synthetic version of deoxycholic acid currently in late-stage development for the reduction of submental fat (double chin). In 2010, Kythera licensed the commercial rights to ATX-101 outside of the U.S. and Canada to Bayer Consumer Care.
KYTHERA Biopharmaceuticals has closed a $37.4M Series D financing round. The round featured significant new investments as well as participation from all existing institutional investors. Proceeds from this financing are slated to be used for conducting US phase III trials for KYTHERA’s lead product, ATX-101, a first-in-class, injectable drug that is under investigation for the reduction of submental fat.