Hogan Lovells represented Elastagen Pty Ltd., a clinical stage company developing medical device products based on recombinant tropoelastin, in its acquisition by Allergan, a leading global biopharmaceutical company.

Under the terms of the agreement, Sydney, Australia-based Elastagen will receive an upfront payment of about $95 million plus contingent payments of up to $165 million. Completion of the transition is subject to customary closing conditions, including review by Australia’s Foreign Investment Review Board.

The Hogan Lovells team was led by William Intner, Matt Johnson, Erin Howell and Adam Golden.