Ipsen Enters Into Option Agreement to Acquire Canbex Therapeutics
Under the financial terms of the agreement, Ipsen has paid an option fee of €6 million ($6.8 million) to Canbex. If Ipsen elects to exercise its option to acquire Canbex at the end of the proof of concept Phase IIa study, Canbex’s shareholders will be eligible to receive a total of up to an additional €90 million ($103 million), comprising an acquisition payment, and additional milestone payments contingent upon launch subsequent to achievement of clinical and regulatory success. In addition, Canbex shareholders will be eligible to receive royalties on world-wide annual net sales of VSN16R.
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