Allergan, Serenity Pharmaceuticals announce global agreement for nocturia drug development

Allergan, Inc. (NYSE: AGN) and Serenity Pharmaceuticals, LLC today announced a global agreement for the development and commercialization of Ser-120, a Phase III investigational drug currently in clinical development for the treatment of nocturia, a common yet often under-diagnosed urological disorder in adults characterized by frequent urination at night time.

“We are pleased to be partnering with Serenity to further explore the potential of Ser-120 as a possible treatment for nocturia, a condition that can negatively impact a patient's quality of life. If successful, Ser-120 would complement our emerging urology portfolio of treatments for a variety of urinary disorders”

Under the terms of the agreement, Allergan receives exclusive worldwide rights to develop, manufacture and commercialize Ser-120. The agreement encompasses all potential indications except Primary Nocturnal Enuresis (pediatric bedwetting). Allergan will make an upfront payment to Serenity of $43 million, potential development and regulatory milestone payments of up to $122 million, future potential sales milestones, and royalty payments on worldwide sales.

"There is a significant unmet medical need for the treatment of nocturia, which often affects patients who suffer from urologic conditions such as overactive bladder, benign prostatic hyperplasia and general primary nocturia. With Allergan's strategic focus on establishing a strong urology franchise and its proven track record in pharmaceutical development and commercialization, we are convinced that this will be a successful partnership," said Samuel Herschkowitz, M.D., Chief Executive Officer of Serenity Pharmaceuticals.

"We are pleased to be partnering with Serenity to further explore the potential of Ser-120 as a possible treatment for nocturia, a condition that can negatively impact a patient's quality of life. If successful, Ser-120 would complement our emerging urology portfolio of treatments for a variety of urinary disorders," said Scott Whitcup, M.D., Allergan's Executive Vice President, Research & Development and Chief Scientific Officer.