Orrick, Herrington & Sutcliffe LLP
10/10/2024 | Press release | Distributed by Public on 10/11/2024 06:26
Combatting Rare Pediatric Disease: Ipsen to Sell Priority Review Voucher
Ipsen has agreed to sell its rare pediatric disease priority review voucher to a large global pharmaceutical company in exchange for a cash payment of $158 million at the closing of the transaction.
Orrick represented Ipsen.
The FDA's rare pediatric disease priority review vouchers aim to incentivize drug development for rare pediatric diseases.
Under the program, a sponsor who receives approval for a drug or biological product for a rare pediatric disease may qualify for a voucher that can be redeemed to receive priority review for a different product. The sponsor may also transfer or sell the voucher.
Ipsen received the priority review voucher coinciding with the FDA's approval of a treatment for people with an ultra-rare bone disease called fibrodysplasia ossificans progressiva.
THE COMPANIES
Ipsen is a global biopharmaceutical company with a focus on bringing transformative medicines to patients in oncology, rare diseases and neuroscience.
The company's pipeline is fuelled by external innovation and supported by nearly 100 years of development experience and global hubs in the U.S., France and the UK.
The company has its global headquarters in Paris, teams in more than 40 countries and partnerships around the world. It brings medicines to patients in more than 80 countries.
THE IMPACT
Selling the priority review voucher "generates further firepower for our ongoing medicine launches and external-innovation strategy, which has seen multiple additions to our portfolio at every stage of development in 2024," said Ipsen Chief Business Officer Philippe Lopes-Fernandes.
THE TEAM
Orrick's Tony Chan and Kyle Zhu advised Ipsen with invaluable support from Craig Falls, Danielle Mangogna, Eric Wall and Georgia Ravitz.