Pharma’s M&A train keeps on going as news breaks that Allergan has picked up University of Sydney spin-off Elastagen for $95 million. The deal means that multi-national biopharma firm acquires Elastagen’s tropoelastin, which is used to treat acne scars and stretch marks, to complement its own skincare portfolio, which includes the famous product Botox.
Elastagen’s product is based on tropoelastin found in the human body, which is a precursor to the highly elastic protein elastin and allows tissues to maintain their shape, resulting in youthful-looking skin.
