Ipsen in-licenses from Photocure: Hexvix®
Ipsen in-licenses from Photocure: Hexvix®, an approved & marketed drug for detection of bladder cancer
- Unique opportunity to optimize and reinforce Ipsen's uro-oncology franchise
Paris, France, 27 September 27 2011 - Ipsen (Euronext: IPN, ADR: IPSEY) announces
today a partnership with Photocure (OSE: PHO), a specialty pharmaceutical company focused
on photodynamic technologies in cancer and dermatology. Photocure has entered into a
strategic collaboration with Ipsen to commercialise Hexvix®, its product for the
diagnosis and resection of bladder cancer, worldwide except in the United States of America
(USA) and the Nordic region.
Hexvix® has been designed to induce specific fluorescence in the malignant cells in
the bladder during a cystoscopic procedure, by improving the detection and resection of non
invasive bladder cancer. Hexvix®, initially approved in Sweden in 2004, was approved across
Europe by 2006 and in the US in 2010. Since 2006, the product has been commercialized in
Europe by GE Healthcare. Hexvix® was initially approved in the EU based on clinical
data showing improved detection and resection of bladder cancer1. More recently, new clinical
data has shown that improved detection using Hexvix® makes local surgery more complete
and leads to significant reduction in the recurrence of bladder cancer2.
With € 14 million estimated sales base in 2011, Ipsen will be responsible for marketing and
selling Hexvix® worldwide, excluding the US and Nordic region. Ipsen has a strong and well
established uro-oncology franchise and will initially commercialize Hexvix® in Europe through
its dedicated salesforce.
Ipsen will pay Photocure and GE Healthcare an upfront payment of €19 million as well as
manufacturing milestones to Photocure of € 5 million. Ipsen will also pay royalties on net sales
and milestones on specific sales achievements. In addition, Photocure will manufacture the
product for Ipsen and, in 2012 and 2013 will invest with Ipsen in marketing and sales
programs up to € 3 million to drive momentum and accelerate the sales growth of Hexvix®.
Detailed financial terms are not disclosed but are in line with standard industry agreements for
a marketed product.
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1 Jichlinski P et al. J Urol 2003; 170: 226-9
2 Stenzl. J Urol, 2010; 184: 1907-1914