ExonHit, Allergan extend collaboration

Paris-ExonHit Therapeutics SA, a drug and diagnostic discovery company, has extended its strategic collaboration with Allergan Inc., a global specialty pharmaceutical company, to identify, develop, and commercialize drugs targeted at the treatment of ophthalmologic conditions, neurodegenerative diseases, and pain, based on positive preclinical trial results.

The two companies began collaborating in 2003 and have extended their relationship two other times. The most recently announced extension, which adds neurodegenerative diseases to the effort, is expected to last until December 2009.

Under terms of the agreement, ExonHit will receive ongoing research and development payments as well as payments for drug candidates that achieve certain development milestones.