French Ipsen closes €700M deal for Californian Cancer Drug

01/03/2016 - 2 minutes

Ipsen is paying Exelixis $200M upfront, plus $545M in future milestones to acquire commercialization rights for a multi-organ cancer candidate outside US, Canada and Japan.

California-based Exelixis has found an European partner to license the small molecule drug, cabozantinib. Ipsen, a French biotech group, will have comercialization rights for cabozantinib worldwide, except in the US and Canada (where Exelixis retains its operation) and Japan (where it has another partner).

This deal cost Ipsen about €184M ($200M) upfront.

Ipsen mainly specializes in neurotoxins as therapies (for diseases that cause spasms and neurological conditions). However, it has also recently been moving more into the oncology field.

Cabozantinib is already approved as a therapy for metastatic medullary thyroid cancer (MTC), under the commercial name COMETRIQ. However, this drug does have the potential to become a global cancer treatment…

Cabozantinib is in advanced investigation for other cancers, which form the basis of the future milestone payments –

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