Ipsen and PHARNEXT conclude an exclusive research, development and marketing agreement

16-Jun-2009 - France

Ipsen and Pharnext SAS, a biopharmaceutical company specializing in the development of innovative treatments, today announced they have entered into an exclusive research, development and marketing agreement regarding innovative drug candidates intended for the treatment of Charcot Marie-Tooth disease, issued from the Pleotherapy™ technology. According to this agreement, Ipsen has been granted an option to Pharnext programme and subscribes to the issuing of convertible bonds of the company.

Under the terms of this agreement, Pharnext will carry out the development of innovative PleotherapyTM-based drug candidates for the treatment of Charcot-Marie-Tooth disease until completion of Phase II clinical trials. Ipsen will further the development up to marketing approvals and will market the product in Europe, the USA, China and certain other territories. Pharnext retains exclusive rights in other key territories.

According to the agreement, Ipsen acquires an exclusive option on Pharnext’s programme on Charcot-Marie-Tooth disease and subscribes to the issuing of convertible bonds. In case the option is exercised at the end of a positive phase II clinical trial, Ipsen will pay Pharnext milestones, up to a cumulative amount of €91 million, as well as double-digit royalties on net product sales and will have the ability to convert its convertible bonds into Pharnext shares. Moreover, in the event Ipsen develops the drug candidate in another indication than Charcot-Marie-Tooth disease, the parties shall discuss the payment of additional development milestones.

https://www.bionity.com/en/news/102096/ipsen-and-pharnext-conclude-an-exclusive-research-development-and-marketing-agreement.html