Allergan shows no nerves in Naurex deal

Allergan, an Ireland-based pharmaceutical company, has agreed to acquire Northwestern University’s central nervous system life sciences firm Naurex in a deal worth $560m.

The company will receive $560m in upfront payments from Allergan, with potential future milestone payments. In return, Allergan will add Naurex’s anti-depression drug candidates to its portfolio.

Since launching in 2008, Naurex has secured $162.1m in external funding. Backers in the firm include Baxter International, Adams Street Partners, Druid Bioventures, Genesys Capital, Latterell Venture Partners, PathoCapital, Savitr Capital, and Takeda Ventures.

Brent Saunders, CEO of Allergan, said: “The acquisition of Naurex is a great fit for Allergan and a compelling and exciting investment. We expect Naurex will enhance Allergan’s mental health portfolio and build on our strategy to lead in this important therapeutic area.”