Ex-Allergan prez Ingram forges $1B deal to sell Alzheimer’s biotech to Brent Saunders and the new crew at Allergan
Just a year after ex-Allergan president Doug Ingram took the helm of a low-profile biotech named Chase Pharmaceuticals and helped steer an experimental therapy for Alzheimer’s through a successful, though small, Phase II study, he’s arranged a sale of the company to Brent Saunders and the new team running Allergan.
Allergan CEO Saunders agreed to hand over $125 million in a cash upfront to acquire Irvine, CA-based Chase, and a spokesperson for the company says milestones bring the total value of the deal up to a potential $1 billion.
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