Ipsen (IPSEF.PK) announced the renegotiation of its 2010 strategic partnership agreement with Inspiration Biopharmaceuticals, Inc. for the development and commercialization of Inspiration's recombinant product portfolio - OBI-1, a recombinant porcine factor VIII (rpFVIII) being developed for treating patients with acquired hemophilia A and congenital hemophilia A with inhibitors, and IB1001, a recombinant factor IX (rFIX) for the treatment and prevention of bleeding in patients with hemophilia B.
As per the new agreement and in its territories, Ipsen recovers commercial rights to OBI-1. Also, Ipsen is granted commercial rights for IB1001. As a result, Ipsen will record sales of OBI-1 and IB1001 in its drug sales line. Ipsen will further pay Inspiration a mid-teen royalty on OBI-1 sales and a higher double digit royalty on IB1001's sales.
In addition, under the new terms, Ipsen has agreed to invest up to $20 million in Inspiration.
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