Ipsen and Spirogen sign new licensing agreement for development of SJG-136 anticancer agent

Oct 8 2009

Ipsen (Euronext : FR0010259150; IPN) and Spirogen Ltd. announced today that the parties have entered into a new agreement superseding their 2003 contractual relationship regarding the DNA minor groove binder SJG-136 (now known as SG2000). The new agreement between the parties will allow Spirogen to continue and lead the clinical development of this first-in-class anticancer agent. SJG-136 is planned to shortly continue clinical development in upcoming National Cancer Institute-sponsored multi-centered Phase II clinical trials in ovarian cancer and haematological malignancies.

Under the new agreement Spirogen is granted an exclusive worldwide license to certain Ipsen intellectual property rights covering pyrrolobenzodiazepines in combination with cytotoxic agents. Spirogen obtains full responsibility for the design and execution of the global clinical development and commercialization of SJG-136 as a single agent or in combination. In the event of commercialization of SJG-136, Ipsen will be eligible to royalties and commercial milestones, in addition to remaining a significant minority shareholder in Spirogen, including membership on the board of directors of Spirogen.

Stéphane Thiroloix, Executive Vice President, Corporate Development of Ipsen said: “We are pleased that the clinical development of an agent like SJG-136 will be furthered in the hands of Spirogen, a world leader in the field of DNA minor groove binding agents and in particular pyrrolobenzodiazepine. This new agreement stems from Ipsen’s strategic focus on molecular targeted agents for hormone dependent cancers for our oncology portfolio. Spirogen has proposed a clear path forward for SJG-136 to complement standard chemotherapy offerings in ovarian and haematological cancers and we believe Spirogen’s commitment to the product has the potential to benefit cancer patients in crucial need of better therapies.”

Chris Martin, Chief Executive Officer of Spirogen stated: “We are pleased that Spirogen will assume leadership over the development of SJG136 as it continues development in Phase II trials in ovarian and haematological cancers while also maintaining Ipsen as an important shareholder and license partner. We are also announcing today our partnership with Celtic Therapeutics, a specialised private equity group which will provide both the capital for our upcoming planned clinical trials and also the support and assistance of its world class drug development team.”