According to the deal, which is approved by boards of directors of both parties, Allergan will pay $22.60 per share of Soliton .
The acquisition will provide Allergan with access to Soliton’s rapid acoustic pulse (RAP) device, RESONIC. A non-invasive device indicated for improving cellulite appearance for a short course of time, RESONIC received the US Food and Drug Administration 510(k) clearance.
The RAP technology utilises non-invasive, quick, high-frequency sound waves to interrupt targeted cellular structures and connective tissue, working on the fibrous septae under the skin that cause the dimpled look of cellulite.
According to clinical trial data submitted to the FDA, a single treatment session with RESONIC showed improvement and offered patient satisfaction. About 92.9% of the participants agreed or strongly agreed that the appearance of their cellulite got better.
The latest deal will expand Allergan Aesthetics ’ body contouring treatment products, including CoolSculpting Elite, the company noted.
Global Allergan Aesthetics president and AbbVie senior vice-president Carrie Strom said: “Soliton’s technology offers a new, completely non-invasive approach with clinically proven results to reduce the appearance of cellulite with no patient downtime.
“The addition of this technology complements Allergan Aesthetics’ portfolio of body contouring treatments. Health care providers will now have another option to address consumers’ aesthetic concerns.”
RESONIC is also FDA 510(k)-cleared for use along with laser to remove tattoos and has shown clinical results in fibrotic scars, Allergan Aesthetics noted.
Soliton executive chairman Walter Klemp said: “Allergan Aesthetics’ brand recognition, global footprint, track record and commitment to developing best-in-class aesthetic treatments makes the company ideally suited to maximise the commercial potential of the RESONIC rapid acoustic pulse technology.”
The acquisition is subject to customary closing conditions, including antitrust clearances and Soliton’s shareholder approval.