Ipsen and GTx partner on European rights to cancer drug Acapodene

By E. Janene Geiss

Philadelphia, Sept. 7 - Ipsen and GTx, Inc. announced Thursday that they have entered into a definitive agreement under which Ipsen will have an exclusive license to develop and market GTx's Acapodene (toremifene citrate) in all indications except breast cancer, in Europe.

Acapodene, a selective estrogen receptor modulator, is intended to exploit a new strategy of estrogen receptors modulation that could translate into a tangible clinical benefit in both the chemoprevention of prostate cancer in high-risk men and the treatment of multiple side effects from androgen deprivation therapy in advanced prostate cancer.

Paris-based Ipsen will pay to GTx €23 million upfront payment and fees.

In addition, Memphis-based GTx may receive milestone payments from Ipsen of €39 million for Acapodene, depending on the successful development and European launch of the drug and subject to certain conditions.

Ipsen said it will pay all clinical development, regulatory and launch expenses to commercialize Acapodene in the European territory. Ipsen may pay a portion of GTx's Acapodene development costs in the United States if certain conditions are met.

Ipsen said it has agreed to pay GTx a graduating royalty on net sales in the mid-teens that could reach the mid-20s based on certain sales price thresholds being met. GTx said it is responsible for paying upstream royalties for Acapodene. Ipsen said it will procure the bulk material from a third party and is responsible for the secondary manufacturing of the product.

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