Allergan Licenses Rights to Medytox Candidates, in Up-to-$362M Deal

In a deal that could net Medytox up to $362 million, the Seoul-based company will license to Allergan exclusive global rights outside Korea to develop and commercialize unspecified neurotoxin product candidates now in development phases, including a potential liquid-injectable product, the companies said today.
In return for the license, Allergan will pay Medytox $65 million up front, up to $116.6 million in potential payments tied to undisclosed development milestones, and another up to $180.5 million in potential payments tied to undisclosed commercialization milestones, plus royalties on product sales.