Ipsen Completes Acquisition of Clementia Pharmaceuticals  

A shared and strengthened commitment to patients with rare diseases

Discover Transaction Infographics

Ipsen and Clementia Pharmaceuticals announce the closing of Ipsen’s acquisition of Clementia following approval of the arrangement by Clementia shareholders and the Quebec Superior Court. Pursuant to the arrangement, Clementia shareholders will receive US$25.00 per share in cash upfront and one contingent value right (CVR) per share entitling them to receive US$6.00 per CVR upon the U.S. Food and Drug Administration's (FDA) acceptance of the regulatory filing for palovarotene for the treatment of multiple osteochondromas (MO). Clementia’s key late-stage clinical asset palovarotene is an investigational retinoic acid receptor gamma (RARγ) selective agonist, for the treatment of two rare bone disorders, fibrodysplasia ossificans progressiva (FOP) and multiple osteochondromas (MO), and other diseases. The palovarotene regulatory submission for the prevention of heterotopic ossification (HO) in patients with FOP in the U.S. is expected for the second half of 2019. The submission will be based on Phase 2 clinical data from greater than 100 imaged flare-ups and indicated that treatment with palovarotene resulted in a greater than 70% reduction of new heterotopic ossification (HO), or bone formation, across all three dosing levels.  

 

Alex Lebeaut, Chief Scientific Officer of Ipsen

“We are encouraged by compelling and consistent clinical data from the extensive Phase 2 program as well as fast-track, breakthrough therapy, orphan drug and rare pediatric diseases designations from the FDA. We are focused on the successful regulatory submission of palovarotene as a first-in-class therapeutic solution for patients with episodic flare-up treatment of fibrodysplasia ossificans progressiva in the second half of 2019.”

Clarissa

Dr. Clarissa Desjardins, Chief Executive Officer of Clementia

“I am extremely grateful for the hard-working and dedicated team at Clementia, the patient community and the clinical trial investigators who have helped advance the palovarotene program. Going forward, we are confident that Ipsen, with its shared patient-centric culture, proven development capabilities and global commercial footprint, will fulfill our ambition of delivering palovarotene to patients worldwide as quickly as possible.” 

About Fibrodysplasia Ossificans Progressiva (FOP)  

FOP is an ultra-rare, severely disabling disorder characterized by heterotopic ossification (HO), or bone that forms outside the normal skeleton, in muscles, tendons or soft tissue. In FOP, HO progressively restricts movement by locking joints, leading to a cumulative loss of function, progressive disability, and increased risk of early death. 

About Multiple Osteochondromas (MO)  

MO, also called multiple hereditary exostoses (MHE), is a rare, severely disabling, progressive, chronic disease in which multiple benign bone tumors, also known as osteochondromas (OCs) or osteocartilaginous exostoses, develop on bones. MO is typically diagnosed in early childhood when OCs become visible with a median age at diagnosis of four years. Because of their development around joints, children develop limb deformity and restricted movement as they grow. Today, the only available treatments for MO are surgery and palliative care, and many patients will undergo surgery, some as many as 30 surgeries, before adulthood. MO is estimated to affect 20 individuals per million lives, or approximately 150,000 globally. MO is among the most common inherited bone disorders with multiple family members in multiple generations affected.

Contacts


Media  

Christian Marcoux – Europe Senior Vice President, Corporate Communications + 33 (0) 6 71 58 11 46 Christian.marcoux@ipsen.com

Karla MacDonald – North America Vice President, NA Communications and Patient Advocacy + 1 (857) 332-3467 Karla.macdonald@ipsen.com

Financial Community 

Eugenia Litz Vice President, Investor Relations +44 (0) 1753 627721 eugenia.litz@ipsen.com



Joseph Walewicz – Clementia Pharmaceuticals EVP, Business and Corporate Development + 1 (514) 940-1080 investors@clementiapharma.com

Monique Allaire President, THRUST Strategic Communications + 1 (781) 631-0759 monique@thrustsc.com  

 

Myriam Koutchinsky Investor Relations Manager +33 (0)1 58 33 51 04 myriam.koutchinsky@ipsen.com