Santhera licenses rights to PD drug candidate fipamezole to France's Ipsen for more than 140 million euros

3 September 2010

Swiss firm Santhera Pharmaceuticals (SIX: SANN) revealed this morning that it has granted France's Ipsen (Euronext: IPN) a license to develop and commercialize fipamezole (antagonist of the adrenergic alpha-2 receptor) for territories outside of North America and Japan.

This first-in-class compound is currently under investigation for the treatment of levodopa-induced dyskinesia in Parkinson's disease. Initiation of a first Phase III study by North America licensee Biovail (The Pharma Letter August 25, 2009) is scheduled for 2011. Today's agreement stipulates a data sharing, under which Ipsen has the right to use these data for its own purposes.

Under the terms of the deal, Ipsen acquires the rights to fipamezole outside the USA, Canada and Japan for an upfront payment of 13 million euros ($16.5 million) and additional payments contingent to future development, regulatory and sales milestones of up to 128 million euros. In addition, Santhera is entitled to royalty payments on Ipsen's future net sales.

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