PARIS & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Regulatory News:
Ipsen, a global biopharmaceutical group focused on innovation and specialty care, today announced an agreement with BioLabs to open a life science co-working facility within Ipsen’s new North America global hub in Kendall Square, Cambridge, Massachusetts. The shared laboratory space, called the ‘Ipsen Innovation Center - BioLabs’ (IPSEN-ICB) will be a fully equipped 15,000 square-feet combined office and laboratory facility dedicated to supporting entrepreneurs and startup companies developing the next generation of therapeutics for patients.
Ipsen Executive Vice President Research & Development, Chief Scientific Officer, Dr. Alexandre Lebeaut, commented, “Our focus is to address patients’ unmet medical needs, relentlessly looking for innovative therapeutic solutions. Teaming up with BioLabs in Cambridge today is the opportunity to create a unique innovation center to serve this purpose.”
Ipsen is providing the space for the innovation center as well as educational programs, mentoring and office hours with Ipsen R&D teams. BioLabs, a national network of co-working facilities designed to help science-based startups go further faster on limited capital investment, is managing the operation of the facility. The space is scheduled to be ready for occupancy in the first quarter of 2019 and BioLabs will begin accepting applications for occupancy in the coming months. Admission to the IPSEN-ICB will be via a competitive process.
This agreement further expands Ipsen’s footprint in Cambridge, and follows last month’s joint announcement with the Massachusetts Life Sciences Centre on the creation of Ipsen’s third global hub for the company based in Cambridge. Ipsen will co-locate its North America business with its Global External Innovation and Partnering, R&D and Manufacturing teams, as well as certain global Commercial roles, creating a fully integrated biopharmaceutical business in the US.
“External innovation is core to Ipsen’s growth strategy and we are committed to supporting the biotech ecosystem that plays such a vital role in discovering innovative new therapies,” added Ivana Magovčević-Liebisch, Ph.D., J.D., EVP, Chief Business Officer. “Ipsen is excited to partner with BioLabs to establish a world-class co-working space that will provide a launchpad for the next generation of high-impact biotechs.”
BioLabs Founder and CEO Johannes Fruehauf, M.D., Ph.D., commented, “Working with the team at Ipsen, we are proud to expand access to state-of-the-art facilities for the scientists and entrepreneurs in and around the Boston/Cambridge hotbed of life-science innovation. Like all our facilities, this site will be designed to stimulate creative interaction and collaboration with the bonus of offering access to Ipsen’s world class R&D capabilities.”
Ipsen is a global biopharmaceutical company focused on innovation and specialty care. The group develops and commercializes innovative medicines in three key therapeutic areas - Oncology, Neurosciences and Rare Diseases. Its commitment to oncology is exemplified through its growing portfolio of key therapies for prostate cancer, neuroendocrine tumors, renal cell carcinoma and pancreatic cancer. Ipsen also has a well-established Consumer Healthcare business. With total sales over €1.9 billion in 2017, Ipsen sells more than 20 drugs in over 115 countries, with a direct commercial presence in more than 30 countries. Ipsen's R&D is focused on its innovative and differentiated technological platforms located in the heart of the leading biotechnological and life sciences hubs (Paris-Saclay, France; Oxford, UK; Cambridge, US). The Group has about 5,400 employees worldwide. Ipsen is listed in Paris (Euronext: IPN) and in the United States through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY). For more information on Ipsen, visit www.ipsen.com.
A membership-based network of shared laboratory facilities located in key cities with proven biotech innovation clusters, BioLabs offers beautifully designed coworking environments that pair fully equipped and supported lab, office, and event spaces with relevant programming and unparalleled access to capital and industry partners. These fertile, supportive ecosystems allow young companies to shift their focus from startup operations to experimentation and innovation so they can reach their scientific potential quickly and achieve business success. Companies can start with a single lab bench and scale up as they grow. The expanding BioLabs network now comprises sites in Boston and Cambridge, Massachusetts; Durham, North Carolina; San Diego and San Francisco, California; New York City, and Princeton, New Jersey.
Ipsen Forward Looking Statement
The forward-looking statements, objectives and targets contained herein are based on the Group’s management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. All of the above risks could affect the Group’s future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words "believes," "anticipates" and "expects" and similar expressions are intended to identify forward-looking statements, including the Group’s expectations regarding future events, including regulatory filings and determinations. Moreover, the targets described in this document were prepared without taking into account external growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by the Group. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising product in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. The Group must face or might face competition from generic products that might translate into a loss of market share. Furthermore, the Research and Development process involves several stages each of which involves the substantial risk that the Group may fail to achieve its objectives and be forced to abandon its efforts with regards to a product in which it has invested significant sums. Therefore, the Group cannot be certain that favourable results obtained during pre-clinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the product concerned. There can be no guarantees a product will receive the necessary regulatory approvals or that the product will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Other risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the Group's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Group’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. The Group also depends on third parties to develop and market some of its products which could potentially generate substantial royalties; these partners could behave in such ways which could cause damage to the Group’s activities and financial results. The Group cannot be certain that its partners will fulfil their obligations. It might be unable to obtain any benefit from those agreements. A default by any of the Group’s partners could generate lower revenues than expected. Such situations could have a negative impact on the Group’s business, financial position or performance. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements, targets or estimates contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. The Group’s business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers.
The risks and uncertainties set out are not exhaustive and the reader is advised to refer to the Group’s 2017Registration Document available on its website (www.ipsen.com).