Posted on 15/03/2010 in Pharmaceutical Company Product News Ipsen has agreed a deal to license a number of its treatments for metabolic disorders to the biotechnology company Rhythm Pharmaceuticals.
The agreement will see Rhythm research, develop and commercialise several Ipsen peptide-oriented research programmes in the field of obesity, metabolic diseases and gastrointestinal conditions.
In exchange for these rights, Ipsen is to receive milestone payments up to a potential total of $80 million (53.1 million pounds), dependent on the successful progression of treatments through development.
Stephane Thiroloix, executive vice-president of corporate development at Ipsen, said the deal would allow for the development of promising new therapies in a field which is outside of the firm's area of strategic focus.
He added: "Given Rhythm's complete focus on metabolic diseases, this transaction will leverage our combined expertise and resources to rapidly transform these important discoveries into valuable medical treatments."
Earlier this month, Ipsen published its financial report for 2009, reporting increased sales of its drug and specialty care products compared to the previous year.Other news stories from 15/03/2010
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