Ipsen’s partner, Inspiration Biopharmaceuticals,

announces acceptance of European marketing authorization application for IB1001 for the treatment of hemophilia B

Paris (France), 3 October 2011 - Ipsen (Euronext: IPN, ADR: IPSEY) today announced that
its partner, Inspiration Biopharmaceuticals, Inc. (Inspiration), has been informed that the
European Medicines Agency (EMA) has validated and accepted the filing of the Marketing
Authorization Application (MAA) for Inspiration's IB1001, a recombinant factor IX (FIX) product
for the treatment and prevention of bleeding in individuals with hemophilia B. In doing so, the
EMA has verified that it will begin its regulatory review process of the MAA.

The application includes safety and efficacy data from Inspiration's clinical program for
IB1001, which was conducted in the U.S., Europe, Israel and India.

In January 2010, Inspiration and Ipsen entered into a broad strategic partnership to develop
and commercialize a unique portfolio of hemophilia products, which included Inspiration inlicensing
OBI-1 from Ipsen, as well as Ipsen providing Inspiration with milestone-based
funding to support the development of Inspiration's two lead development programs, including
FIX IB1001. Based on this partnership, by receiving the IB1001 MAA submission acceptance
for review from the EMA, Inspiration will receive a $35 million milestone payment from Ipsen.
In return, Inspiration will issue a convertible note to Ipsen, bringing Ipsen's fully diluted equity
ownership position in Inspiration to approximately 38%. In late August, Ipsen and Inspiration
entered into a new agreement to create a hemophilia business unit structure being
established within Ipsen's existing European commercial organization, which will be the
exclusive commercial agent for all products marketed under the Inspiration brand in Europe,
including IB1001.