(AOF) – Ipsen announces the signing of a research collaboration agreement with Skyhawk Therapeutics aimed at targeting RNA in rare neurological diseases. The biotech specifies that Skyhawk’s technology platform makes it possible to address, via small molecules, RNA targets that are otherwise not amenable to drug development, thus expanding the landscape of therapeutic targets. This agreement gives Ipsen the option to acquire an exclusive license for the worldwide rights to develop validated drug candidates.
Once the development candidate is selected, Ipsen will be responsible for all activities concerning them.
“Our focus and expertise in movement disorders and across our entire portfolio allows us to provide patients with first or best-in-class treatments for conditions with the highest unmet needs. new cutting-edge platform now enhances our ability to develop these innovative medicines,” said Steve Glyman, Senior Vice President, Neuroscience Research and Development at Ipsen.
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Key points
– 3rd specialized French biopharmaceutical company, focused on innovation and specialty medicine, created in 1929;
– Turnover of €3 billion distributed between the growth platforms for 57% (Dysport, Decapeptyl, Cabometyx and Onivyde), Somatuline for 40% and Tazverik;
– Balanced international presence between Europe (41%) and the United States (34%);
– Vision: to be a leading biopharmaceutical company in oncology drugs (Cabometyx, Decapeptyl, Onivyde, Somatuline), rare diseases (NutropinAct and Increlex) and neuroscience (Dysport) through R&D and scientific partnerships;
– Capital controlled by the founding Beaufour families (54% of the shares and nearly 70% of the voting rights) and by the Swabe family for 4.34%, Marc de Garidel chairing the board of 10 members, David Loew being general manager;
– Debt-free balance sheet, with €817 million in free self-financing and €1.5 billion available for innovative acquisitions.
Challenges
– 2024 strategy capitalizing on specialty medicine with increased objectives: targeting 4 to 6% annual growth in turnover, reduction in administrative and general costs and progression of R&D efforts;
– Open innovation strategy, supported by R&D carried out in 3 centers (Oxford, Cambridge, Saclay and Shanghai) and financed by €3 billion in investments between 2021 and 2024:
– leading to the creation of a portfolio of 25 drugs,
– accelerated by acquisitions (20 new assets between 2021 and 2022);
– “Generation Ipsen” environmental strategy:
– in 2030, a 50% reduction (vs. 2019) in CO2 emissions from infrastructure and the automobile fleet,
– 2024 milestone: 21% reduction in CO2 emissions, 24% reduction in water consumption and 20% increase in the volume of waste treated,
– integration since 2019 of ESG criteria in bond issues;
– Expansion of the range against rare diseases (NutropinAct and Increlex);
– Strengthening in anti-cancer epigenetics with the American Epizyme, and in liver diseases with the acquisition of Albireo.
Challenges
– Dependence on 3 drugs accounting for more than 1/4 of sales: Dysport (Botox challenger, marketed in the United States), Decapeptyl and Somatuline;
– Strong competition from generics for Somatuline, affecting sales growth in 2023;
– After the registration of Pavolatorene for FOP, followed by drugs in phase 3 in the pipeline: Elafibranor, Onivyde-Oxaliplatin, Tazverik and Cabometyx-Atezolizumab, 6 products being in phase 2 and 2 in phase 1;
– Clinical and commercial success of the -Genfit partnerships around the drug Elifibranor, accompanied by an 8% stake, Marengo Therapeutics…;
– 2023 objectives of sales growth of +4% at constant exchange rates and an operating margin of 30%;
– Stability of the 2022 dividend, at €1.2.
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