Ipsen acquires OctreoPharm Sciences for €50m
Strengthening its presence in the oncology field
French biotechnology company Ipsen has signed an agreement to purchase OctreoPharm Sciences for €50m.
OctreoPharm is a privately owned German life sciences company developing radioactive labelled compounds for molecular imaging diagnostics and therapeutic applications.
Ipsen said it will maintain the company location and staff in Berlin to ensure the successful transition of know-how and expertise.
Under the terms of the agreement, which is subject to closing conditions, OctreoPharm’s shareholders are eligible to receive up to a total of approximately €50m for the purchase of all of the company’s shares in the form of an upfront payment and downstream payments contingent upon clinical and regulatory milestones.
Ipsen said the deal extends the scope of its portfolio and its leadership in neuroendocrine tumours (NET). OctreoPharm is developing a theranostic approach for the management of NET based on a somatostatin receptor antagonist peptide.
The acquisition includes an agreement with Eckert & Ziegler, one of OctreoPharm’s shareholders, to provide contract manufacturing services for the radio-labelling of the therapeutic compound.