Ipsen strikes $1.3B Clementia buyout to boost rare disease unit

Share

Ipsen has struck a $1.3B deal to buy Clementia Pharmaceuticals for its late-phase rare disease drug palovarotene, a retinoic acid receptor gamma agonist. Clementia picked up the worldwide rights to palovarotene from Roche in 2013.

 

Having raised a $60M mezzanine round and pulled off a $137M IPO, Clementia generated phase 2 data on the use of palovarotene in fibrodysplasia ossificans progressiva (FOP) that could support a filing for FDA approval later this year. Clementia was gearing up to commercialize the drug but has opted to sell instead.

 

Read the full article at fiercebiotech.com…

Share

Leave a Reply

Your email address will not be published. Required fields are marked *

More in News & Trends
Teva set to shed 11 manufacturing sites in 2019

Teva plans to close or divest 11 manufacturing sites this year as its cost-cutting drive gathers momentum. At the 2018...

Close