Ipsen to Acquire US Drugmaker Epizyme for USD 247m.
MANews-(C)2009-2022
French drugmaker Ipsen (Euronext: IPN) (OTC: IPSEY) and US-based Epizyme (NASDAQ: EPZM) have entered into a definitive merger agreement under which Ipsen will acquire Epizyme, the companies said.
The transaction was unanimously approved by both Ipsen and Epizyme Boards of directors and is anticipated to close by the end of 3Q22, subject to the satisfaction of all closing conditions.
Epizyme is a fully integrated, commercial-stage biopharmaceutical company developing and delivering transformative therapies against novel epigenetic targets for cancer patients.
The primary focus of the acquisition is on the lead medicine, Tazverik (tazemetostat), a first-in-class, chemotherapy-free EZH2a inhibitor, which was granted Accelerated Approval by the US Food and Drug Administration in 2020.
It is currently indicated for adults with relapsed or refractory follicular lymphoma whose tumors are positive for an EZH2 mutation as detected by an FDA-approved test and who have received at least two prior systemic therapies, and for adult patients with relapsed or refractory follicular lymphoma who have no satisfactory alternative treatment options, as well as for adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection.
Tazverik is currently in the Phase III stage of a registrational confirmatory study (SYMPHONY-1) in combination with rituximab and lenalidomide in patients with relapsed/refractory FL who have received at least one prior therapy.
Initial results from the Phase III randomized portion of this study are planned to read out in 2026.
As part of the transaction, Ipsen will also acquire Epizyme's first-in-class, oral SETD2 inhibitor development candidate, EZM0414, which was granted FDA Fast Track status and is currently under evaluation in a recently initiated Phase I/Ib trial in adult patients with relapsed or refractory multiple myeloma and diffuse large B-cell lymphoma, as well as a portfolio of preclinical programs focusing on epigenetic targets.
Ipsen said the acquisition of Epizyme will immediately provide incremental sales and will leverage the US commercial infrastructure.
Given the level of ongoing R and D expenses, the transaction is expected to be moderately dilutive on Ipsen's core operating income until the end of 2024.
This is in line with Ipsen's medium-term outlook regarding its strategic focus on building a high-value and...
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