Allergan (AGN +0.5%) inks a research, development, collaboration and license agreement with Assembly Biosciences (ASMB -0.1%) securing global rights to Assembly's microbiome gastrointestinal (GI) development programs.
The deal includes preclinical candidates ABI-M201 and ABI-M301 for ulcerative colitis and Crohn's disease, respectively, as well as two candidates to be identified by Assembly for irritable bowel syndrome (IBS), IBS with diarrhea (IBS-D), with constipation (IBS-C) or mixed (IBS-M).
Under the terms of the deal, Assembly will receive $50M upfront, undisclosed milestones and tiered royalties on net sales. Development costs through proof-of-concept studies will be shared. Allergan will assume all costs afterward.
The transaction should close this quarter.
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