Ipsen expands rare disease portfolio with acquisition

25 February 2019

French drugmaker Ipsen (Euronext: IPN) has entered into an agreement to acquire Canada-headquartered biotech Clementia Pharmaceuticals (Nasdaq: CMTA), sending the latter’s shares up 74.3% at $26.00 in pre-market trading today.

The deal includes Clementia’s key late-stage clinical asset palovarotene, an investigational retinoic acid receptor gamma (RARγ) selective agonist, for the treatment of fibrodysplasia ossificans progressiva (FOP), multiple osteochondromas (MO) and other diseases. The acquisition will proceed by way of a court-approved plan of arrangement pursuant to the Canada Business Corporations Act.

The transaction will expand the French firm’s rate disease portfolio and continues the transformation of Ipsen, by:

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