Allergan Acquires Chase Pharmaceuticals

Allergan announced that it has completed the acquisition of Chase Pharmaceuticals Corporation, a biopharmaceutical company specializing in the development of improved treatments for neurodegenerative disorders including Alzheimer's disease. Allergan has paid an upfront fee of $125 million (subject to certain adjustments) to Chase. There will be additional potential regulatory and sales milestone payments related to Chase's lead compound, CPC-201, and certain backup compounds.

The acquisition adds a new Phase 3 ready program for Alzheimer's disease to Allergan’s CNS portfolio. Chase's lead compound, CPC-201, is a patent-protected combination of the most commonly prescribed acetylcholinesterase inhibitor (AChEI), donepezil, and the peripherally acting cholinergic blocker, solifenacin. AChEIs have been shown to improve cognition in Alzheimer's disease patients. Currently approved AChEIs, however, are only modestly effective because of dose-limiting side effects, including diarrhea, nausea, and vomiting. Chase's next-generation formulations offer the possibility of greater and more tolerable dosing, and may provide the potential for significantly improved cognition and function in Alzheimer's disease patients.  

Chase recently had a meeting with FDA following the completion of its CPC-201 Phase 2 trial. Allergan plans to begin a Phase 3 study in 2017.

Source: Allergan