Pharnext and Ipsen : exclusive research, development and marketing agreement

Paris (France), 15 June 2009 - The agreement concerns innovative drug candidates issued from the Pleotherapy™ technology intended for the treatment of Charcot-Marie-Tooth disease - Ipsen (Euronext : IPN), an innovation-driven global pharmaceutical Group and Pharnext SAS, a biopharmaceutical company specializing in the development of innovative treatments, announced they have entered into an exclusive research, development and marketing agreement regarding innovative drug candidates intended for the treatment of Charcot Marie-Tooth disease, issued from the Pleotherapy™ technology. According to this agreement, Ipsen has been granted an option to Pharnext programme and subscribes to the issuing of convertible bonds of the company...

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About Ipsen
Ipsen is an innovation-driven international specialty pharmaceutical group with over 20 products on the market and a total worldwide staff of nearly 4,200. Its development strategy is based on a combination of specialty products, which are growth drivers, in targeted therapeutic areas (oncology, endocrinology and neurology), and primary care products which contribute significantly to its research financing. The location of its four Research & Development centres (Paris, Boston, Barcelona, London) and its peptide and protein engineering platform give the Group a competitive edge in gaining access to leading university research teams and highly qualified personnel. More than 800 people in R&D are dedicated to the discovery and development of innovative drugs for patient care. This strategy is also supported by an active policy of partnerships. In 2008, Research and Development expenditure was about €183 million, close to 19% of consolidated sales, which amounted to €971 million while total revenues exceeded €1 billion. Ipsen’s shares are traded on Segment A of Euronext Paris (stock code: IPN, ISIN code: FR0010259150). Ipsen’s shares are eligible to the “Service de Règlement Différé” (“SRD”) and the Group is part of the SBF 120 index.

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About Pharnext
Pharnext is a biopharmaceutical company focused on discovering, developing and licensing new pharmaceutical treatments based on intelligent Pleocompounds™ that form the basis of Pleodrugs™. Pharnext was founded in Paris, France in April, 2007, by Daniel Cohen, MD, PhD, his research group (composed of pioneers in genome science and technology) and Philippe Pouletty, MD (General Partner at Truffle Capital). Thanks to Truffle Capital's founding investment, strong support from OSEO, a grant from AFM (The French Muscular Dystrophy Association) and the benefits of France's research tax credit scheme, Pharnext has developed a new proprietary platform (PleotherapyTM) based on network pharmacology and which may provide a solution for the current 3/3 decline in pharmaceutical pipeline productivity. Pharnext is advised by La Compagnie Financière Edmond de Rothschild... [PDF] Ipsen's Press Release - PDF du communiqué de presse d'Ipsen -