IPN Ipsen SA

   By Cecilia Butini 
 

Ipsen said Monday that it has entered into a strategic partnership with Marengo Therapeutics to bring two of the company's immuno-oncology candidate drugs into the clinical testing phase.

The French pharma company said that, as part of the agreement, it would make an upfront payment to Marengo of $45 million, which would go up to $1.59 billion if all milestones are met. Tiered sales royalty payments would also be added on top, the company said.

The agreement centers around the development of two precision immuno-oncology candidate drugs, Ipsen said, adding that Marengo will led preclinical development and will expense related costs until it can submit an application for Investigational New Drug to the US Food and Drug Administration.

"The collaboration will leverage Marengo's proprietary R&D expertise of a novel mechanism of T cell activation with Ipsen's global oncology footprint for clinical development and commercialization," the company said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

August 01, 2022 01:41 ET (05:41 GMT)

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