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Allergan plc

Drug Names(s): NRX 2085

Description: NRX 2085 is an NMDAR partial agonist that is potentially suited to the treatment of schizophrenia (including negative and cognitive symptoms).

Deal Structure: Allergan and Naurex
In July 2015, Allergan announced that they have entered into a definitive agreement under which Allergan will acquire Naurex in an all-cash transaction. Under the terms of the agreement, Allergan will acquire Naurex for a $560 million upfront payment net of cash acquired, $460 million of which is payable upon the closing of the acquisition and $100 million of which is payable by January of 2016 (or upon the closing if the closing has not occurred by such time), as well as potential R&D success-based and sales-threshold milestone payments.

Naurex's discovery platform has yielded a pipeline of NMDA receptor modulators, including subtype-selective molecules, with the potential to treat a broad set of psychiatric and neurologic disorders. Immediately prior to the closing of the acquisition, Naurex will spin-out this discovery platform into a new company. Allergan and this new company will enter into a research collaboration focused on the discovery...See full deal structure in Biomedtracker

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