Paris and Strasbourg, France, March 8, 2016 - Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven pharmaceutical company, and PeptiMimesis, a start-up from an INSERM (French National Institute of Health and Medical Research) and Strasbourg University spin-off project, funded by SATT Conectus Alsace, today announce the signing of a research partnership and a licensing option for the development and marketing of novel therapeutic peptides in oncology. Ipsen will combine its expertise in peptide design and development with PeptiMimesis' knowledge in the identification of transmembrane peptides and intracellular signaling. The target receptor is involved in different phases of cancer development, including angiogenesis, immune tolerance and proliferation.
"PeptiMimesis is extremely proud that its innovative approach is recognized by Ipsen, a prominent partner in therapeutic peptides. We are convinced that this initial collaboration will pave the way for a series of partnerships, given the tremendous possibilities of targeting transmembrane receptors," said Pascal Neuville, chief executive officer of Domain Therapeutics, co-founding company of PeptiMimesis and chairman of PeptiMimesis.
"This partnership is the result of more than 15 years of research that reached the validation stage thanks to the support of SATT Conectus. Work on the project will now continue in close cooperation between my laboratory, PeptiMimesis, and Ipsen," added Dominique Bagnard, Ph.D., PeptiMimesis scientific founder.
Claude Bertrand, executive vice president, research & development and chief scientific officer of Ipsen, said: "We have been working with Dominique Bagnard's team since 2014 to assess the potential of transmembrane targeting of a specific receptor identified as involved in cancer development. We are delighted to continue our involvement with the young start-up PeptiMimesis, to combine our strengths and expertise to identify and develop new treatments for cancer patients. The project aligns perfectly with our research strategy and extends our expertise in peptides."
Under the terms of the agreement, Ipsen and PeptiMimesis will work closely together to move the project forward towards clinical development. PeptiMimesis will receive financial support from Ipsen for the research phases, as well as milestone payments associated with the program. In the event the option is exercised, Ipsen could make further potential payments to PeptiMimesis at development, regulatory and commercial milestones, as well as royalty payments on worldwide annual net sales.
About PeptiMimesis
Created in October 2015, PeptiMimesis is a biopharmaceutical company based in Strasbourg, France, dedicated to the development of transmembrane therapeutic peptides. The company's proprietary platform delivers a set of drug candidates that act on strategic targets in the field of immuno-oncology, oncology and immune diseases. PeptiMimesis' business model aims at moving forward internal assets up to a significant value inflexion point before out-licensing them to pharma partners. PeptiMimesis is also looking to establish partnerships on its unique technology with pharma and biotech companies.
www.peptimimesis.com
About Ipsen
Ipsen is a global specialty-driven biotechnological group with total sales exceeding €1.4 billion in 2015. Ipsen sells more than 20 drugs in more than 115 countries, with a direct commercial presence in more than 30 countries. Ipsen's ambition is to become a leader in specialty healthcare solutions for targeted debilitating diseases. Its fields of expertise cover oncology, neurosciences and endocrinology (adult & pediatric). Ipsen's commitment to oncology is exemplified through its growing portfolio of key therapies improving the care of patients suffering from prostate cancer, bladder cancer and neuro-endocrine tumors. Ipsen also has a significant presence in primary care. Moreover, the Group has an active policy of partnerships. Ipsen's R&D is focused on its innovative and differentiated technological platforms, peptides and toxins, located in the heart of the leading biotechnological and life sciences hubs (Les Ulis/Paris-Saclay, France; Slough/Oxford, UK; Cambridge, USA). In 2015, R&D expenditure totaled close to €193 million. The Group has more than 4,600 employees worldwide. Ipsen's shares are traded on segment A of Euronext Paris (stock code: IPN, ISIN code: FR0010259150) and eligible to the 'Service de Règlement Différé' ('SRD'). The Group is part of the SBF 120 index. Ipsen has implemented a Sponsored Level I American Depositary Receipt (ADR) program, which trades on the over-the-counter market in the United States under the symbol IPSEY.
www.ipsen.com