CASTRES, France--(BUSINESS WIRE)--Pierre Fabre, the 2nd largest French private Pharmaceutical group, today announced the signature of a definitive purchase agreement to acquire several assets from the biotechnology company Igenica Biotherapeutics, based in Burlingame, California, USA. The agreement includes innovative immunotherapies targeting immune checkpoints that may reverse the resistance to existing immuno therapies. The most advanced asset is currently at preclinical stage and is expected to be administered to patients in the coming 2 to 3 years. The agreement also comprises a series of early discovery targets.
“This agreement is in line with recent collaborations signed by Pierre Fabre with biotechnology companies and academic laboratories in the fields of oncology and dermatology and confirms our Research & Development dynamic through external partners” said Laurent Audoly, Head of Pierre Fabre Pharmaceuticals R&D.
Frédéric Duchesne, Pharmaceutical Division Chief Executive Officer at Pierre Fabre added, “Pierre Fabre’s know-how in oncology is based on more than 30 years of experience. We have two recognized research and development centers with dedicated teams that work closely together to developing medicines for patients living with cancer. This new deal reinforces our position to participate in the revolution of targeted biotherapies and reinforce our commitment to bring substantial value to patients”.
Under the terms of the agreement, Pierre Fabre has acquired the full property of the assets. The financial terms of the agreement are not disclosed.
“We are very pleased that Pierre Fabre will clinically develop Igenica’s most advanced immune oncology asset for patients suffering from cancer ”said Edward van der Horst, Senior Director of Igenica’s Preclinical Drug Development.
About Igenica Biotherapeutics
Igenica Biotherapeutics is focused on the discovery and development of antibodies in the field of immune-oncology and antibody-drug conjugates (ADCs) for the treatment of cancer. This company fully powers the ADC development spectrum from a clinically relevant approach to target and functional antibody discovery to ADC creation, accelerating development and the delivery of effective therapies to patients.
Co-founded in 2009 by Robert Schreiber, Ph.D*. Igenica is led by a proven team of leaders that have demonstrated success in antibody drug discovery, clinical development and commercialization.
*(Alumni endowed Professor of Pathology and Immunology, Professor of Molecular Microbiology, Washington University School of Medicine)
About Pierre Fabre
Pierre Fabre is a French private pharmaceuticals and dermo-cosmetics company founded in 1962 by Mr. Pierre Fabre. Its turnover reached over 2.28 billion Euros in 2016, spread over 130 countries. The company is structured around two divisions: Pharmaceuticals (prescription drugs, consumer health care) and Dermo-cosmetics (including the Europe and Asia market-leader Eau Thermale Avène brand). Pierre Fabre employs some 13,000 people worldwide and owns subsidiaries in 47 countries. In 2016, the company allocated 14% of its pharmaceuticals sales to R&D with a focus on 4 therapeutic areas: oncology, dermatology, CNS and consumer health care.
Pierre Fabre Laboratories have always developed durable and valuable scientific partnerships with innovators from public research institutions (CRNS, Inserm...), faculties and universities (Ecole Polytechnique de Lausanne, Université de Saclay...), international pharmaceutical laboratories (Allergan, Abbvie, Maruho...) and biotech companies (Array BioPharma, AbCheck, Cellectar...).
Through the Group’s controlling company Pierre Fabre Participations, Pierre Fabre is 86% owned by the Pierre Fabre Foundation, a recognized public-interest organization since 1999. Up to 8.2% of the remaining shares are held by the company’s employees and the remaining balance is held as treasury stock.
To find out more about Pierre Fabre, please go to www.pierre-fabre.com