Ipsen and Pharnext to collaborate on Pleotherapy technology
Ipsen, a French pharmaceutical group and Pharnext, a biopharmaceutical company specialising in the development of innovative treatments, have signed an exclusive research, development and marketing agreement on drug candidates for treating Charcot Marie-Tooth disease, issued from Pleotherapy technology.
Ipsen, a French pharmaceutical group and Pharnext, a biopharmaceutical company specialising in the development of innovative treatments, have signed an exclusive research, development and marketing agreement on drug candidates for treating Charcot Marie-Tooth disease, issued from Pleotherapy technology.
Pharnext will develop Pleotherapy-based drug candidates for the treatment of Charcot-Marie-Tooth disease until completion of Phase II clinical trials.
Ipsen will market the product in Europe, US, China and certain other territories. Pharnext retains exclusive rights in other key territories.
Ipsen has acquired an exclusive option on Pharnext's programme on Charcot-Marie-Tooth disease and subscribes to the issuing of convertible bonds.
Daniel Cohen, Pharnext's founder and ceo, said: "We have great confidence in Ipsen's ability successfully to exploit Pharnext's technology and drug candidates for the benefit of Charcot-Marie-Tooth patients. We believe that Pleotherapy will generate many novel therapies in the central nervous system disease area and, indeed, other fields of medicine."
In case the option is exercised at the end of a positive phase II clinical trial, Ipsen will pay Pharnext milestones up to Euro 91m, as well as royalties on net product sales and will have the ability to convert its convertible bonds into Pharnext shares.
If Ipsen develops the drug candidate in an indication other than Charcot-Marie-Tooth disease, the companies will discuss the payment of additional development milestones.