Canadian biotech Cangene has scuttled an application for approval of a hemophilia drug candidate called IB1001 in Europe, after regulators asked for more clinical data to support its submission.
A panel of drug regulators deems a therapy developed by Cangene likely to be effective in humans to protect against a toxin considered a bioterrorism threat.
Ipsen is closing a tumultuous foray into the hemophilia area. With its broke biotech partner Inspiration Biopharmaceuticals, Ipsen has agreed to sell a hemophilia drug candidate placed on clinical hold by the FDA last year to Cangene in a deal worth up to $55.9 million in upfront and commercial milestone money.
Canada's Cangene announced that it is consolidating all R&D activities within the Winnipeg head office location and cutting its staff by 4 percent. Cangene says its consolidating in order to