As part of the new agreement, Ipsen will gain commercial rights in key territories, while Inspiration will develop OBI-1 and IB1001 across the world.
Under the negotiation, Ipsen will receive $30m upfront payment and Ipsen is also entitled to pay Inspiration milestones for a total amount of up to $200m, of which $27.5m are regulatory milestones and the remaining are commercial milestones.
As part of the new agreement, Ipsen will also appoint two additional members to Inspiration’s board of directors and will receive a mid-twenties royalty on sales of OBI-1.
The agreement also states that Ipsen will invest up to $20m in Inspiration.