Roche pays €56 million for Ipsen's diabetes medicine

By Elaine Rigoli

Tampa, Fla., July 19 - Roche announced its decision to exercise its option to exclusively license, develop and market Ipsen's patented anti-diabetic drug BIM 51077.

Roche has been granted worldwide rights, except in Japan where these rights are shared with Teijin (Ipsen's Japanese partner), and in France, where Ipsen may elect to retain co-marketing rights.

The exercise of this option by Roche has triggered a payment to Ipsen of €56 million. Roche will also make a payment of €3 million after the closing of Ipsen's 2006 financial statements.

Ipsen could receive total further payments of up to €170 million, contingent upon achievement of clinical, manufacturing, regulatory and commercial milestones, according to a news release.

Additionally, Ipsen will receive progressive royalties on any worldwide sales. As of the date of exercise of the option, Roche is fully responsible for further developing and manufacturing of the product and will consequently hold the marketing authorizations.

Roche said it will fund 100% of the remaining development of BIM 51077, except in Japan, where expenses will be shared 50% between Roche and Teijin.

Roche's decision is supported by the phase 1 and 2 results obtained with BIM 51077 that suggested this anti-diabetic compound exhibited an efficacy and safety profile in line with the GLP-1 class of incretins and was compatible with Ipsen's proprietary controlled-delivery systems which upon subcutaneous administration could deliver over a period of one day, one week or two weeks.

A phase 2 study to confirm the efficacy and safety of this compound in a sustained-release formulation will start early 2007.

Ipsen is a Paris-based pharmaceutical company.

Based in Basel, Switzerland, Roche is a research-focused pharmaceutical company.

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