Ipsen, an innovation-driven global specialty pharmaceutical Group and Debiopharm Group (Debiopharm), a Swiss-based global biopharmaceutical group of companies with a focus on the development of prescription drugs that target unmet medical needs, announced the signature of an agreement under which Debiopharm is granted an exclusive worldwide license to develop and commercialise Ipsen's first-in-class inhibitor of the CDC25 phosphatase enzyme (now Debio 0931), for the treatment of various human cancers.

CDC25 is a key enzyme involved in the regulation of cell cycle. Its over-expression is associated with the progression of cancer. By blocking the cell cycle and thus interrupting tumour growth, Debio 0931 represents a promising novel target for cancer therapies. This preclinical candidate will now be the subject of a full development program under the responsibility of Debiopharm.

Under the terms of the agreement Debiopharm will be exclusively responsible for the development of Debio 0931, with Ipsen having an option to re-acquire development and commercialisation rights post completion of phase II clinical trials. Ipsen will receive an upfront payment and be eligible for milestone payments and royalties.

Jean-Luc Bélingard, Ipsen's chairman and chief executive officer said: "We are delighted that Ipsen's CDC-25 inhibitor will be progressed toward clinical development by Debiopharm, a company with a strong track record in oncology. Debiopharm is our long-standing partner with whom we have had a very fruitful partnership in other areas of oncology for more than 20 years and we feel confident that the full potential of CDC-25 will be maximised, thanks to Debiopharm's strong expertise in oncology development."

Rolland-Yves Mauvernay, president and founder of Debiopharm Group added: "We are extremely pleased to enter into another alliance with Ipsen. This collaboration is an opportunity to grow our pipeline in oncology, our area of expertise. We believe that Debio 0931 may have applications in the treatment of various types of cancer which will increase the quality of life of many cancer patients."

The collaboration between Ipsen and Debiopharm started in 1983 with regards to LHRH analogues, in particular for the triptorelin analogue Decapeptyl (also known as Pamoreline and Diphereline). In October 2007, their partnership was extended to grant Ipsen access to future sustained-release formulations of Decapeptyl developed by Debiopharm, among which a 6-month sustained release formulation that was filed in Europe in September 2008, for the treatment of locally advanced or metastatic prostate cancer. Decapeptyl 1 and 3-month formulations are currently commercialised in more than 60 countries worldwide, including 25 in Europe and they have generated almost € 248million in sales in 2008.

Ipsen is an innovation-driven international specialty pharmaceutical group with over 20 products on the market and a total worldwide staff of nearly 4,200. Its development strategy is based on a combination of specialty medicine, which is Ipsen's growth driver, in targeted therapeutic areas (oncology, endocrinology, neurology and haematology), and primary care products which contribute significantly to its research financing.