(Adds detail from statement)
PARIS, OCT 3 - French drugmaker Ipsen on Monday said partner Inspiration Biopharmaceuticals had been informed that the European Medicines Agency (EMA) had accepted a filing for a bleeding-prevention treatment for hemophiliacs, triggering a milestone payment for Inspiration.
The EMA’s acceptance for review of the IB1001 treatment means Ipsen will pay $35 million to Inspiration, in exchange for a convertible note that will boost Ipsen’s stake in its partner to approximately 38 percent, Ipsen said in a statement.
IB1001 is an intravenous product being developed for the treatment and prevention of bleeding in individuals with hemophilia B. In Europe the treatment has completed Phase III testing, while clinical testing for a U.S. regulatory submission is ongoing.
The treatment will launch in Europe pending regulatory approval expected in late 2012, Ipsen Chief Executive Marc de Garidel said in the statement.
Reporting by Lionel Laurent