Ipsen Gives Genfit Liver Drug New Lease Of Life
Pays €120m Upfront For Elafibranor Rights
The French biotech was firmly on the ropes last year after elafibranor joined the long list of failures for NASH but the promise it has shown in primary biliary cholangitis has persuaded Ipsen to part with a hefty upfront fee.
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Ipsen CEO David Loew recently told Scrip that a return to more rational valuations for biotechs should led to more deals. The Epizyme acquisition could be the first of many by the French group this year.
Still working to refile its NASH fibrosis NDA 22 months after an FDA complete response letter, Intercept gets $405m up front for its ex-US business, including commercial rights to Ocaliva in PBC.
David Loew has assembled a strong business development team which secured seven licensing pacts in 2021 and the Ipsen CEO tells Scrip that this year should see more of the same.