Ipsen grants Rhythm exclusive global rights to two metabolic disorder programs for up to $80 million

Paris, France-based biotechnology firm Ipsen has concluded an agreement with US biotech Rhythm Pharmaceuticals for its proprietary peptide therapeutics targeting obesity, metabolic diseases, and gastrointestinal disorders, granting the latter an exclusive worldwide license for research, development, and commercialization of its melanocortin and ghrelin programs originating from Ipsen research.

Under the terms of the license accord, Ipsen will receive progressive payments of up to $80 million upon the achievement of certain development and commercial milestones and royalties on future sales of the products. The French firm will also acquire a 17% equity in Rhythm and is granted one seat on Rhythm's board of directors.

'The agreement with Rhythm is a clear catalyst for the development of proprietary molecules from Ipsen in promising indications within the area of metabolic diseases, which are outside of our core strategic focus,' said Stephane Thiroloix, executive vice president, corporate development, at Ipsen. 'Given Rhythm's complete focus on metabolic diseases, this transaction will leverage our combined expertise and resources to rapidly transform these important discoveries into valuable medical treatments,' he added.