Ipsen SA and Inspiration Biopharmaceuticals Inc Announce Closing of the IB1001 Sale to Cangene Corp

Ipsen SA and Inspiration Biopharmaceuticals Inc. announced the closing of the sale of the hemophilia B product, IB1001 (recombinant FIX), to Cangene Corporation (Cangene). The transaction was announced on February 6, 2013. Ipsen and Inspiration jointly agreed to sell their respective commercialization rights to IB1001 as part of the transaction. Cangene acquired worldwide rights to IB1001, a recombinant factor IX under regulatory review in the United States and Europe. This transaction follows the announcement last month that Ipsen and Inspiration had agreed to sell OBI-1 (recombinant porcine FVIII) to Baxter International. Under the terms of the agreement, Cangene Corp. has agreed to pay USD 5.9 million upfront, up to USD 50 million in potential additional commercial milestones as well net sales payments equivalent to tiered double digit percentage of IB1001 annual net sales.