Company News: Allergan, Vicept Therapeutics and ClinStar
Global specialty pharma company Allergan has announced plans to acquire privately held dermatology start-up Vicept Therapeutics. The two businesses have entered into a definitive agreement – which is estimated to close in Q3 2011 – the terms of which specify that Allergan will acquire all outstanding shares and assets of Vicept and pay $75 million in cash up-front, plus up to $200 million based upon the accomplishment of certain future development, sales and regulatory milestones. Malvern, PA-based Vicept Therapeutics was founded in 2009 with the aim of developing the first effective topically-applied treatment for the erythema (skin redness) associated with rosacea. The company's lead investigational product, V-101, is indicated for precisely that, and has achieved positive results in two randomized, placebo-controlled Phase II studies, so far.
Contract research organization (CRO) ClinStar, LLC, a company which provides clinical research services for Russia and Eastern Europe's emerging pharma and biotech industries, has announced the opening of a new regional office on the East Coast, in Durham, NC. This will be the company's second US location, adding to its national headquarters in San Francisco, CA. The company's new southern location was selected to centralize the business's workforce and accommodate future growth. According to President and CEO David Passov, "This is the realization of a major long-term business goal for ClinStar. Our new office further solidifies our commitment to offer our clients the local expertise and knowledge they need to successfully conduct clinical trials in Russia and Eastern Europe while ensuring our business operates in accordance with the proven business and management principles practiced in the West."