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Ipsen SA (OTC:IPSEY) has entered into a long-term strategic partnership to develop, manufacture, and commercialize and Genfit SA's (NASDAQ:GNFT) elafibranor for Primary Biliary Cholangitis (PBC).
- Under the agreement, Ipsen will pay Genfit up to €480 million, including an upfront cash payment of €120 million and milestone payments up to €360 million, plus tiered double-digit royalties of up to 20%.
- Ipsen will also invest €28 million via equity, representing 8% post-issuance in Genfit.
- Genfit remains responsible for the Phase 3 ELATIVE trial until completing the double-blind period.
- Ipsen will assume responsibility for all additional clinical development, including completion of the long-term extension period of the ELATIVE trial and global commercialization.
- The ELATIVE is evaluating the safety and efficacy of elafibranor in 150 PBC patients who have an inadequate response or intolerance to ursodeoxycholic acid (UDCA).
- Topline data is expected in early 2023.
- Price Action: GNFT shares are up 41.9% at $4.71 during the premarket session on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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