Santhera Pharmaceuticals and Ipsen have inked an agreement for fipamezole, which is being studied to treat levodopa-induced dyskinesia in Parkinson's disease.
Under the terms of the agreement, Ipsen will acquire the rights to fipamezole outside the U.S., Canada and Japan for an upfront payment of €13 million ($16.7 million) and additional payments contingent to future development, regulatory and sales milestones of up to €128 million ($164.6 million). Santhera also is entitled to royalty payments on Ipsen's future net sales.
Biovail is scheduled to start Phase III testing of the product next year. Santhera granted Biovail the development and commercial rights to fipamezole in the U.S. and Canada in August 2009.
"This agreement with Santhera will further enrich Ipsen's pipeline with a new promising first-in-class compound thus complementing our fast-growing neurology franchise, in clear medical and operational synergy with our existing portfolio," says Stéphane Thiroloix, Ipsen's executive VP, corporate development, in a statement. "We have been impressed with the scientific and development capabilities of both Santhera and Biovail. Ipsen will benefit from the Biovail development and collaborate fully to achieve regulatory filings excluding North America planned for 2015."
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