Allergan Purchases Option Right To Acquire Lysosomal Therapeutics - Quick Facts

(RTTNews) - Allergan plc (AGN) and Lysosomal Therapeutics Inc. announced that Allergan has purchased an exclusive option right to acquire LTI. Lysosomal Therapeutics is dedicated to small-molecule research and development in the field of neurodegeneration, yielding new treatment options for patients with severe neurological diseases. LTI's lead program targets Gaucher-related neurodegeneration, Parkinson's disease and other synucleinopathies.

LTI-291, LTI's lead program, aims to stimulate the activity of glucocerebrosidase (GCase) in the brain. Allergan purchased an option right directly from LTI shareholders to acquire LTI following completion of a Phase 1b trial for LTI-291. Allergan will also provide a separate upfront research and development payment.

Allergan and LTI will establish a joint development committee to oversee the development activities for LTI-291. Additional terms of the deal were not disclosed.