Ipsen and Active Biotech collaborate on prostate cancer drug research

Ipsen has announced plans to collaborate with Active Biotech on the development of a new treatment for metastatic castration-resistant prostate cancer.

The agreement will see Ipsen pay its partner up to 200 million euros (175.34 million pounds) in associated fees to gain exclusive international commercialisation rights to the developmental compound TASQ (tasquinimod).

This new therapy option has demonstrated promise in early-stage clinical trials and is currently involved in a phase III study, for which patient enrolment is ongoing.

Ipsen states that this alliance will strengthen its uro-oncology pipeline, with the new product acting as a potential companion drug for its current Decapeptyl offering.

Marc de Garidel, chairman and chief executive officer of Ipsen, said: "We are excited to work with Active Biotech as this partnership leverages our longstanding and recognised expertise in this severely debilitating disease."

Last month, the company published its financial targets for the 2011 fiscal year, during which it expects to experience an eight percent growth in sales for its specialty care drugs.