Genfit heads for best day in almost 10 yrs on Ipsen deal

Genfit SA

17/12/2021 08:31

** Shares in French pharma group Genfit  GNFT.PA  soar
around 47%, on track for their best day in almost 10 year, as it
strikes a long-term commercial partnership with Ipsen, which
also enters its capital with an 8% stake
    ** The agreement gives Ipsen exclusive license to develop,
manufacture and commercialize Genfit's elafibranor, a treatment
for primary biliary cholangitis, a rare autoimmune disease of
the liver  urn:newsml:reuters.com:*:nASN0020EY
    ** Genfit will receive 120 million euros  ($135.86 million)
upfront and will be eligible to receive up to 360 million euros
in milestone payments, tiered double-digit royalties of up to
20%
    ** Credit Suisse says the deal "fits with Ipsen strategy in
rare diseases"
    ** Separately, Genfit bought rights from Genoscience Pharma
to develop and commercialize the investigational treatment
GNS561 in cholangiocarcinoma - bile duct cancer - in the United
States, Canada, Europe  urn:newsml:reuters.com:*:nGNE2Ckx54
    ** Shares are on track for best day since Feb. 3, 2012

($1 = 0.8832 euros)

 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))