Allergan (AGN) sealed a deal with Israeli-based UroGen Pharma to license worldwide rights to UroGen’s RTGel drug delivery system technology, UroGen reported pre-market Friday.
Under the agreement, Allergan agreed to make a $17.5 million upfront payment to UroGen as well as potential development and commercial milestones and royalties on net sales.
RTGel is described as a hydrogel technology that can be used as a bladder instillation therapy as it allows for increased residence time of drugs instilled in the bladder.
“Under Allergan’s robust BOTOX and uro-neurological development and commercial expertise, RTGel has the potential to become an important innovation for patients suffering from overactive bladder and related conditions,” said UroGen CEO Ron Bentsur.
Separately, Allergen said new data from its irritable bowel syndrome portfolio will be unveiled in two poster presentations at the upcoming annual meeting of the American College of Gastroenterology in Las Vegas.