ARTICLE | Company News

Ipsen, Inspiration in hemophilia deal

January 22, 2010 1:25 AM UTC

Ipsen Group (Euronext:IPN) and Inspiration Biopharmaceuticals Inc. (Laguna Niguel, Calif.) announced a deal that gives Ipsen the ability to acquire Inspiration in undisclosed increments triggered by milestones for hemophilia products from both companies. Ipsen will make an upfront investment of $85 million, giving it a 20% stake in Inspiration. Ipsen also will receive $50 million in notes that convert into a further 9% stake.

Inspiration received exclusive, worldwide rights to Ipsen's OBI-1, a recombinant porcine Factor VIII that is expected to start Phase III testing this year to treat patients with acquired hemophilia and hemophilia A who have developed an inhibitory immune reaction to human Factor VIII. Inspiration is eligible for up to $174 million in milestone payments for development of OBI-1 and Inspiration's IB1001, a recombinant Factor IX product expected to begin Phase III testing this year to treat bleeding in patients with hemophilia B. ...