Ipsen to acquire rare disease specialist Albireo in deal worth over $950m

Ipsen has announced it will acquire rare disease specialist Albireo for $952m in a deal that is set to strengthen the French biopharma’s liver disease pipeline.

Through the acquisition, Ipsen will gain access to Bylvay (odevixibat), a non-systemic ileal bile acid transport inhibitor which gained US and EU approval in 2021 for the treatment of paediatric patients with pruritus in progressive familial intrahepatic cholestasis (PFIC).

In addition to this lead indication, the company announced in December 2022 that it had made supplementary regulatory filings for Bylvay in the EU and the US for Alagille syndrome, another paediatric liver disease for which the most debilitating symptom is severe pruritus.

Bylvay is also currently in phase 3 development for biliary atresia (BA), the most common of three main paediatric liver diseases and the leading cause of liver transplants for children.

Under the terms of the agreement, Ipsen will initiate a tender offer for $42 per share plus a contingent value right of $10 per share tied to the potential approval of Bylvay in BA.

Commenting on the acquisition, Ipsen’s chief executive officer, David Loew, said: “Our rare disease franchise is strengthened with Bylvay, which, in addition to being the first-approved treatment in PFIC, has two further indications being investigated in rare liver conditions that are underserved.

“Additionally, Bylvay and the clinical and preclinical novel bile acid transport inhibitors in Albireo’s portfolio complement our own pipeline in liver disease.”

As part of the transaction, Ipsen will also acquire Albireo’s clinical stage asset A3907, a novel oral systemic apical sodium-dependent bile acid transporter inhibitor currently in development for adult cholestatic liver disease, such as primary sclerosing cholangitis.

Also included in Albireo’s pipeline is A2342, an oral systemic sodium-taurocholate co-transporting peptide inhibitor under evaluation for viral and cholestatic diseases, which is moving ahead in investigational new drug-enabling trials.

“Our talented team at Albireo has advanced the first phase 3 studies in three different paediatric liver diseases while discovering two promising new clinical stage bile acid modulators,” said Ron Cooper, president and chief executive officer of Albireo.

“We believe that Ipsen is well positioned to apply its global R&D and commercial capabilities to make these medicines available to more cholestatic liver disease patients and accelerate the mission of providing hope for families,” Cooper added.