On May 4, 2020 Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven biopharmaceutical group, IRICoR, a pan-Canadian research commercialization center focused on drug discovery, and Université de Montréal, reported they entered into an option agreement by which Ipsen would acquire an exclusive license for the worldwide rights to a high-value oncology program (Press release, Ipsen, MAY 4, 2020, View Source [SID1234556930]).
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Under the leadership of Université de Montréal’s drug discovery unit based at the Institute for Research in Immunology and Cancer, the program, currently at lead optimization stage, will focus on advancing the current lead molecules to the development candidate stage. Université de Montréal/IRICoR will be responsible for conducting and financing the research program until the option to license is exercised. If Ipsen decides to exercise the option, Ipsen would assume all development activities and commercialize the drug candidate globally. The financial terms of the agreement, including research, development, commercial milestones and royalties have not been disclosed.
"At Ipsen, our mission is to improve patients’ lives by delivering on our growth strategy. Core to this strategy is identifying and pursuing early-stage assets with a potentially best-in-class value proposition so that we can develop new therapies for patients affected by cancer, neurological disorders and rare diseases," said Howard Mayer, EVP, Head of R&D, Ipsen. "We are very pleased to partner with IRICoR and Université de Montréal, whose reputation for scientific excellence in oncology is recognized internationally. Through this collaboration, we will bring together their strong scientific expertise and Ipsen’s drug development capabilities to further advance patient care in oncology."
"We are confident that this partnership has the potential to bring new, innovative therapeutic options to patients with high unmet medical need," said Dr. Steven Klein, Vice-President, Business Development, IRICoR. "Accelerating the development of novel early-stage oncology solutions is crucial to our mission of accelerating the discovery and development of innovative therapies in our targeted areas of cancer and related diseases by working with leading companies such as Ipsen to bring these new therapeutic options to patients suffering from cancer."