Sydney biotech Elastagen has just been bought for $120 million by the maker of Botox

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University of Sydney spin-off Elastagen, which has a product to fix stretch marks and acne scars, has been bought by multi billion dollar global biopharmaceutical Allergan, the manufacturer of Botox, for $US95 million ($A120 million).

Elastagen’s technology is based on human tropoelastin, the precursor of elastin which is a key component of youthful skin.

The startup is part of the Medical Research Commercialisation Fund portfolio, managed by Brandon Capital Partners.

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