GENFIT Secures €26.5 Million Milestone Payment from Ipsen
GENFIT Achieves Significant Milestone Payment
GENFIT (Nasdaq and Euronext: GNFT), a prominent biopharmaceutical company dedicated to addressing rare liver diseases, has made remarkable progress with the recent approval of pricing and reimbursement for Ipsen’s Iqirvo® for the treatment of Primary Biliary Cholangitis (PBC) in Italy. This decision marks a pivotal moment in the company’s trajectory, unlocking a substantial milestone payment of €26.5 million under an existing Licensing and Collaboration Agreement with Ipsen.
Unlocking Opportunities in Liver Health
This milestone payment is not just a financial achievement; it fuels GENFIT’s ambition to advance its research and development pipeline, particularly in Acute On-Chronic Liver Failure (ACLF) and other serious liver-related conditions. The collaboration with Ipsen represents a significant strategic partnership, allowing both companies to leverage their expertise in the biopharmaceutical arena to innovate treatment options for patients with critical unmet medical needs.
Commitment to Innovative Therapeutics
GENFIT’s commitment to developing high-potential therapeutics is evident through its diverse R&D portfolio. As a leader in liver disease research, the company is pioneering the development of new therapies that can significantly improve patient outcomes. The successful approval process of Iqirvo® is a testament to this dedication, highlighting the company’s capability to take promising molecules from conception through to commercialization.
Expanding Research and Development Initiatives
The current milestone represents a vital opportunity for GENFIT to bolster its ACLF franchise, which includes a suite of promising assets under development: VS-01, G1090N, SRT-015, CLM-022, and VS-02-HE. Each of these compounds utilizes different mechanisms of action and administration routes, further solidifying GENFIT’s position at the forefront of innovative liver disease treatments.
Broader Scope in Life-Threatening Diseases
In addition to ACLF, GENFIT is equally focused on addressing other serious health challenges such as cholangiocarcinoma (CCA), urea cycle disorders (UCD), and organic acidemia (OA). This multifaceted approach underscores the company’s holistic vision of combating severe liver ailments, offering hope to patients and their families.
Strategic Collaborations Enhancing Growth
GENFIT’s collaboration with Ipsen has not only led to the successful launch of Iqirvo® in Italy, but also in other significant European markets, including the UK and Germany. This multi-country strategy emphasizes the effectiveness and growing acceptance of elafibranor as a viable treatment for PBC.
About GENFIT
Founded over two decades ago, GENFIT has built a strong reputation in the biopharmaceutical sector. With headquarters in Lille, France, and additional offices in Zurich and Cambridge, Massachusetts, the company is strategically positioned to navigate the complexities of international market dynamics. GENFIT is listed on both the Nasdaq Global Select Market and Euronext in Paris, showcasing its dual commitment to growth and transparency.
Investor Relations and Media Contacts
For further inquiries regarding investor relations, please contact GENFIT at +33 3 2016 4000 or by email at investors@genfit.com. For media inquiries, reach out to Stephanie Boyer at the same phone number or via email at stephanie.boyer@genfit.com.
Frequently Asked Questions
What is the milestone payment amount GENFIT received?
GENFIT received a milestone payment of €26.5 million following the approval of pricing and reimbursement for Ipsen’s Iqirvo® in Italy.
What is Iqirvo® used to treat?
Iqirvo® is utilized for the treatment of Primary Biliary Cholangitis, a rare liver disease.
How does this milestone payment benefit GENFIT?
The milestone payment will enable GENFIT to further its research and development initiatives, particularly in Acute On-Chronic Liver Failure and related liver diseases.
What other diseases is GENFIT targeting?
In addition to ACLF, GENFIT is also focusing on cholangiocarcinoma, urea cycle disorders, and organic acidemia.
Where is GENFIT headquartered?
GENFIT is headquartered in Lille, France, and has operational offices in Zurich and Cambridge, Massachusetts.
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