Ipsen to acquire Clementia Pharmaceuticals
A shared and strengthened commitment to patients with rare diseases
Ipsen and Clementia Pharmaceuticals announced that they have entered into a definitive agreement for Ipsen to acquire Clementia Pharmaceuticals, including its key late-stage clinical asset palovarotene, an investigational retinoic acid receptor gamma (RARγ) selective agonist, for the treatment of fibrodysplasia ossificans progressiva (FOP), multiple osteochondromas (MO) and other diseases.
Continuing the transformation of Ipsen: • Accelerating a global Rare Disease organization with the mission to bring treatment options for ultra-orphan diseases to patients worldwide • Executing on key strategic objective to increase the value of the pipeline with innovative first-in-class or best-in-class assets • Acquiring a near-term launch opportunity of a largely de-risked asset with limited competition which enhances sustainable growth of the company with significant upside potential from additional indications
Palovarotene inhibits excess bone morphogenetic protein (BMP) signaling which is linked to the progression of FOP and MO, two well-characterized, ultra-rare/rare and severely-disabling bone disorders for which there are no treatment options available.
David Meek, Chief Executive Officer of Ipsen
“The acquisition of Clementia Pharmaceuticals accelerates the ongoing transformation of Ipsen as we are successfully executing on our external innovation strategy to identify and acquire innovative medicines to serve patients with unmet medical needs. Through this transaction, we will gain scientific expertise, exceptional talent and a cornerstone ultra-rare disease drug candidate with rare pediatric disease and breakthrough therapy designations, potential U.S. approval in 2020 and additional indications to follow. We look forward to working closely with Clementia to successfully integrate two companies that share a similar patient-centric culture and the ambition to deliver new treatments to patients with unmet medical needs.”
Dr. Clarissa Desjardins, Chief Executive Officer of Clementia
“I am proud of the entire Clementia team, whose tireless efforts have rapidly advanced palovarotene towards a planned NDA submission, and we are all grateful for the dedication of the patient community and our clinical trial investigators who have supported us along the way. Ipsen’s global commercial presence and capabilities will expedite our shared vision of bringing palovarotene to patients around the world as quickly as possible. We anticipate a smooth transition of our operations into the Ipsen organization that will continue Clementia’s vision of delivering palovarotene to patients worldwide.”
Ipsen will host a conference call and web conference (available at www.ipsen.com) today to discuss this announcement. Participants should dial in approximately 5 to 10 minutes prior to the start. No reservation is required to participate in the conference call.
A replay will be available for seven days on Ipsen’s website: www.ipsen.com
Christian Marcoux – Europe Senior Vice President, Corporate Communications + 33 (0) 6 71 58 11 46 Christian.email@example.com
Karla MacDonald – North America Vice President, NA Communications and Patient Advocacy + 1 (857) 332-3467 Karla.firstname.lastname@example.org
Ian Weatherhead – United Kingdom Vice President, Corporate External Communications + 44 (0) 7584 230549 Ian.email@example.com
Eugenia Litz Vice President, Investor Relations +44 (0) 1753 627721 firstname.lastname@example.org
Myriam Koutchinsky Investor Relations Manager +33 (0)1 58 33 51 04 email@example.com
Media and Financial Community
Joseph Walewicz – Clementia Pharmaceuticals
EVP, Business and Corporate Development
+ 1 (514) 940-1080 firstname.lastname@example.org
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