On May 23, 2017 Pierre Fabre, the 2nd largest French private Pharmaceutical group, reported the signature of a definitive purchase agreement to acquire several assets from the biotechnology company Igenica Biotherapeutics, based in Burlingame, California, USA (Press release, Pierre Fabre, MAY 23, 2017, View Source [SID1234519284]).

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The agreement includes innovative immunotherapies targeting immune checkpoints that may reverse the resistance to existing immuno therapies. The most advanced asset is currently at preclinical stage and is expected to be administered to patients in the coming 2 to 3 years. The agreement also comprises a series of early discovery targets.

This agreement is in line with recent collaborations signed by Pierre Fabre with biotechnology companies and academic laboratories in the fields of oncology and dermatology and confirms our Research & Development dynamic through external partners said Laurent Audoly, Head of Pierre Fabre Pharmaceuticals R&D.

Frédéric Duchesne, Pharmaceutical Division Chief Executive Officer at Pierre Fabre added, Pierre Fabre’s know-how in oncology is based on more than 30 years of experience. We have two recognized research and development centers with dedicated teams that work closely together to developing medicines for patients living with cancer. This new deal reinforces our position to participate in the revolution of targeted biotherapies and reinforce our commitment to bring substantial value to patients.

Under the terms of the agreement, Pierre Fabre has acquired the full property of the assets. The financial terms of the agreement are not disclosed.

We are very pleased that Pierre Fabre will clinically develop Igenica’s most advanced immune oncology asset for patients suffering from cancer said Edward van der Horst, Senior Director of Igenica’s Preclinical Drug Development.