Brief: Ipsen, Genfit Sign Exclusive Licensing Agreement For Elafibranor

Genfit SA

17/12/2021 06:04

Dec 17 (Reuters) - Ipsen  IPN.PA :
    * IPSEN AND GENFIT ENTER INTO EXCLUSIVE LICENSING AGREEMENT
FOR
ELAFIBRANOR, A PHASE III ASSET EVALUATED IN PRIMARY BILIARY
CHOLANGITIS, AS PART OF A LONG-TERM GLOBAL PARTNERSHIP
    * AGREEMENT GIVES IPSEN GLOBAL* RIGHTS TO DEVELOP AND
COMMERCIALIZE GENFIT'S LATE-STAGE, FIRST-IN-CLASS PPAR ALPHA AND
DELTA AGONIST ELAFIBRANOR IN PRIMARY BILIARY CHOLANGITIS (PBC)
    * GENFIT RECEIVES EUR 120M UPFRONT AND IS ELIGIBLE TO
RECEIVE UP
TO EUR 360M IN MILESTONE PAYMENTS AS WELL AS TIERED DOUBLE-DIGIT
ROYALTIES OF UP TO 20%
    * IPSEN BECOMES 8% SHAREHOLDER OF GENFIT VIA AN EQUITY
INVESTMENT
OF EUR 28M
    * INVESTIGATIONAL TREATMENT ELAFIBRANOR BEING EVALUATED IN
GLOBAL
PHASE III TRIAL, ELATIVE™, WITH TOPLINE DATA EXPECTED EARLY 2023
    * THE TRANSACTION IS EXPECTED TO BE DILUTIVE TO IPSEN’S
PROFITABILITY OVER THE NEAR TERM, PRIMARILY REFLECTING RESEARCH
AND DEVELOPMENT AND LAUNCH-PREPARATION EXPENSES
    * IPSEN ALSO BECOMES SHAREHOLDER OF GENFIT THROUGH PURCHASE
OF 8%
OF GENFIT S.A. CAPITAL AFTER NEW SHARES ISSUANCE, VIA A EUR 28M
INVESTMENT
    * TRANSACTION IS EXPECTED TO BE DILUTIVE TO IPSEN'S
PROFITABILITY
OVER NEAR TERM, PRIMARILY REFLECTING RESEARCH AND DEVELOPMENT
AND LAUNCH-PREPARATION EXPENSES

Source text for Eikon:  ID:nBw6tJ1p8a 
Further company coverage:  IPN.PA 

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