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12:00 AM
 | 
Feb 01, 2010
 |  BioCentury  |  Strategy

Ipsen inspired by portfolio effect

Based on its experience with human growth products, Ipsen Group believes a portfolio approach to specialist markets is better than bringing a single product to market. This was the rationale behind granting Inspiration Biopharmaceuticals Inc. a license to OBI-1, which gives the biotech a total of four hemophilia candidates, two of which are in late-stage development. The deal mitigates Ipsen's development risk while allowing it to acquire Inspiration once the products reach the market.

Inspiration received exclusive worldwide rights to OBI-1, a recombinant porcine Factor VIII that is expected to start Phase III testing this year to treat patients with acquired hemophilia or hemophilia A who have developed an inhibitory immune reaction to human Factor VIII.

Ipsen will invest $85 million up front for a 20% stake in Inspiration. In exchange for the product rights, Ipsen also received $50 million in notes that convert into an additional 9% stake in the biotech. Ipsen is also eligible for a 27.5% royalty on sales of OBI-1.

Inspiration is eligible for up to $174 million in development milestones for OBI-1 and its own IB1001, a recombinant Factor IX product that is expected to begin...

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