Sugen, Allergan ophthalmic news

The companies will develop ophthalmic drugs using SUGN's small molecule signal transduction inhibition technology. Allergan will pay a $2 million technology set-up fee and will invest $4 million by purchasing 199,000 SUGN shares at $20.88 per share. SUGN has 10.5 million shares outstanding prior to the agreement. SUGN also will receive R&D funding, milestones and royalties.

Allergan has worldwide rights to all ophthalmic uses of the products and technologies from the collaboration. ...