PARIS & MONTREAL--(BUSINESS WIRE)--Regulatory News:
Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven biopharmaceutical group, IRICoR, a pan-Canadian research commercialization center focused on drug discovery, and Université de Montréal, today announced they entered into an option agreement by which Ipsen would acquire an exclusive license for the worldwide rights to a high-value oncology program.
Under the leadership of Université de Montréal’s drug discovery unit based at the Institute for Research in Immunology and Cancer, the program, currently at lead optimization stage, will focus on advancing the current lead molecules to the development candidate stage. Université de Montréal/IRICoR will be responsible for conducting and financing the research program until the option to license is exercised. If Ipsen decides to exercise the option, Ipsen would assume all development activities and commercialize the drug candidate globally. The financial terms of the agreement, including research, development, commercial milestones and royalties have not been disclosed.
“At Ipsen, our mission is to improve patients’ lives by delivering on our growth strategy. Core to this strategy is identifying and pursuing early-stage assets with a potentially best-in-class value proposition so that we can develop new therapies for patients affected by cancer, neurological disorders and rare diseases,” said Howard Mayer, EVP, Head of R&D, Ipsen. “We are very pleased to partner with IRICoR and Université de Montréal, whose reputation for scientific excellence in oncology is recognized internationally. Through this collaboration, we will bring together their strong scientific expertise and Ipsen’s drug development capabilities to further advance patient care in oncology.”
“We are confident that this partnership has the potential to bring new, innovative therapeutic options to patients with high unmet medical need,” said Dr. Steven Klein, Vice-President, Business Development, IRICoR. “Accelerating the development of novel early-stage oncology solutions is crucial to our mission of accelerating the discovery and development of innovative therapies in our targeted areas of cancer and related diseases by working with leading companies such as Ipsen to bring these new therapeutic options to patients suffering from cancer.”
Designated as a Centre of Excellence in Research and Commercialization (CECR) by the Canadian government, IRICoR is project maturation cluster in the field of drug discovery based at the Institute for Research in Immunology and Cancer (IRIC) of the Université de Montréal. IRICoR's mandate is to accelerate the discovery, development, and commercialization of novel therapies in cancer, immunotherapy, and related fields. Since 2008, IRICoR has been successfully investing in and supporting selected cutting-edge projects in order to rapidly translate early-stage innovation into potential new therapies, through either co-development partnerships with the biopharmaceutical industry or the creation of spin-off companies. IRICoR seamlessly integrates its business-related expertise with access to industry-level drug discovery capabilities, providing selected academic and industry projects with access to its network of experts and cutting-edge infrastructure, including one of the largest academia-based medicinal chemistry groups in Canada. IRICoR's major funding sources include the Centres of Excellence for Commercialization and Research (CECR) program of the Canadian government, the Ministère de l'Économie et de l'Innovation du Québec (MEI), and collaborative partnerships with the biopharmaceutical industry. For more information about IRICoR: www.iricor.ca
About the Institute for Research in Immunology and Cancer of the Université de Montréal
An ultra-modern research hub and training centre located in the heart of the Université de Montréal, the Institute for Research in Immunology and Cancer of the Université de Montréal was created in 2003 to shed light on the mechanisms of cancer and discover new, more effective therapies to counter this disease. The IRIC operates according to a model that is unique in Canada. Its innovative approach to research has already led to discoveries that will, over the coming years, have a significant impact on the fight against cancer. For more information: www.iric.ca
Ipsen is a global specialty-driven biopharmaceutical group focused on innovation and Specialty Care. The Group develops and commercializes innovative medicines in three key therapeutic areas – Oncology, Neuroscience 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 €2.5 billion in 2019, 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 5,800 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
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