Ipsen has acquired the private German life sciences company OctreoPharm Sciences for $50m.
OctreoPharm focuses on the development of innovative radioactive labelled compounds for molecular imaging and diagnostics and therapeutic applications.
The German firm is developing a theranostic approach for the management of neuroendocrine tumours (NET) based on a somatostatin receptor antagonist peptide, supporting Ipsen’s strategy to extend its oncology portfolio and presence within NET.
Marc de Garidel, chairman and CEO of Ipsen, said: “The acquisition of OctreoPharm will enlarge our footprint in the NET field, and gives Ipsen access to a new scientific field where OctreoPharm has a unique expertise in antagonist peptides for the diagnosis and treatment of neuroendocrine tumours.
“This is an important step in our ambition to become a global leader in the management of NET, and illustrates the pertinence of our business development strategy.”
The deal includes a therapeutic compound labelled with Lutetium that is being developed for use as a peptide receptor radionuclide therapy (PPRT) for the treatment of NET and is currently in preclinical development. The acquisition also includes an agreement with OctreoPhgarm shareholders Eckert and Ziegler to provide contract-manufacturing services for the radio-labelling of the compound.
Ipsen plans to maintain the company location and staff to help aid a successful transition of expertise and knowledge, with the firm expecting to complete the acquisition once closing conditions have been cleared.
In December of last year, the FDA approved Ipsen’s Somatuline Depot (lanreotide) in a group of rare cancers of the neuroendocrine system, the first drug to be approved in the US for the indication.