The Fund RBV Capital, created with the participation of RVC and R-Pharm, will receive up to 10% of the sale of the Irish Allergan to the American company Bonti. The initial payment will amount to $ 195 million, under certain conditions additional payments may follow.
RBV Capital acquired a stake in Bonti in December 2016. RBV Capital’s stake in Bonti is 5-10%, as well as in most cases of portfolio investments of the fund, Alexey Konov, Managing Partner of RBV Capital, told Kommersant. According to Konov since the end of 2015 RBV Capital invested $ 3-4 million in Bonti. The internal rate of return for the fund (IRR) will amount to 120% just after the first tranche of Allergan.
Bonti specializes in clinical research, development and commercialization of neurotoxins for aesthetic and therapeutic use. After the acquisition of Bonti Allergan is going to receive international rights to develop two products based on the serotypes E botulinum toxins, which are in the second phase of clinical trials. Botulinum takes effect during several hours after administration and has an action time of two to four weeks.
In 2016, RBV Capital sold to Allergan the company for the development of ophthalmic drugs RetroSense Therapeutics, also making money off investments in it. The first payment was $ 60 million, the total amount of the transaction taking into account all subsequent payments was $ 550 million.
RBV Capital was established in 2014 with the participation of Alexey Repik's R-Pharm and the RVC public fund. According to Alexei Konov, the share of R-Pharm in the fund is about 51%.
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