France's Ipsen and its bankrupt partner Inspiration Biopharmaceuticals have unveiled plans to sell a second haemophilia drug in as many weeks.
This time, Canada's Cangene Corp is acquiring the worldwide rights to IB1001, a recombinant factor IX (rFIX) for the treatment of haemophilia B. The company is paying $5.9 million upfront and up to $50 million in potential additional commercial milestones, and a tiered double-digit percentage of future IB1001 sales.
The transaction is subject to court and regulatory approvals as Inspiration filed for Chapter 11 bankruptcy in October last year. It comes a fortnight after a deal was struck with Baxter International which acquired OBI-1, a recombinant porcine factor VIII therapy for haemophilia A, and Ipsen's manufacturing facility in Milford, near Boston, USA. For the latter, Baxter will pay $50 million upfront and up to $135 million in development and commercial milestones, plus royalties.
Ipsen is Inspiration's only senior secured creditor and put up financing of up to $23.6 million to fund the US biotech's operations during the sale process. The French drugmaker notes that on the basis of available information, its share of upfront payments from the two deals should mainly cover the amount it put up for Inspiration.