Telesta signs license deal with Ipsen for its bladder cancer therapy for up to $137 million
Canada-based Telesta Therapeutics (TSX: TST) on Wednesday said it has licenced its therapy to treat high risk non-muscle invasive bladder cancer (NMIBC) to French drugmaker Ipsen (Euronext: IPN) for up to $137 million in upfront and milestone payments comprising a $10 million upfront payment.
Marc de Garidel, chief executive of Ipsen, said: “Ipsen is pleased to enter into a partnership with Telesta Therapeutics for Europe and key Rest of the World territories. We believe MCNA, which received priority review from FDA, is a promising second line bladder cancer treatment that would perfectly fit our urology-oncology portfolio in Europe.”
The companies in a joint statement said Ipsen will commercialize the treatment in all countries of the world, with the exception of the USA, where Telesta is establishing commercial operations, Canada, South Africa, Mexico, South Korea and Japan.
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