Ipsen expands deal with GTx for cancer treatment

Ipsen has expanded its agreement with biopharmaceutical company GTx to receive a wider range of rights over their collaboratively-developed prostate cancer treatment.

The companies have announced an amended collaboration agreement which will see Ipsen gain increased royalty payments and wider global marketing rights for the new drug toremifene, as well as relief from certain milestone payment obligations.

In return, it will pay GTx up to 42 million euros (37.5 million pounds) for the successful initiation and progression of the second toremifene 80 mg Phase III clinical trial.

Stephane Thiroloix, executive vice-president of corporate development at Ipsen, said it has expanded the deal due to the promising nature of the drug and its ability to address unmet medical needs.

He added: “It will strengthen Ipsen’s franchise in hormone-dependent cancers and broaden our drug range in the oncology area.”

Last week, the company agreed to license a number of its treatments for metabolic disorders to Rhythm Pharmaceuticals, explaining that the therapies fall outside its area of strategic focus.