Allergan to acquire Elastagen Pty Ltd.

Elastagen Pty Ltd, a clinical stage company developing medical device products based on recombinant tropoelastin, announced that it has entered into a definitive agreement under which Allergan plc, a leading global biopharmaceutical company, has agreed to acquire Elastagen for an upfront payment of $95 million plus contingent, commercial payments.� Elastagen�s revolutionary technology is based on recombinant human tropoelastin, the precursor of elastin which is a key component of youthful skin. Elastagen�s tropoelastin is identical to that present in human tissue, and has many potential clinical applications, including treatment for acne scars, stretch marks, aesthetic skin repair and surgical wound repair.