Allergan acquires Taris' LiRIS lidocaine system

Allergan Inc. (NYSE:AGN) acquired LiRIS from Taris Biomedical Inc. (Lexington, Mass.) for $67.5 million in cash up front and up to $520 million in milestones. LiRIS, a lidocaine-releasing intravesical system, is in Phase II testing to treat interstitial cystitis/bladder pain syndrome. Allergan said the deal adds to its urology pipeline, which includes Botox onabotulinumtoxinA to treat overactive bladder. LiRIS uses Taris' bladder delivery technology, which provides continuous local delivery to the bladder for days to weeks. ...