Ipsen discontinues development of chimeric compound BIM 23A760 for acromegaly

Ipsen (Euronext: IPN, ADR: IPSEY) announced today that the preliminary data from the ongoing phase IIb study in patients with acromegaly for its chimeric compound BIM 23A760 does not meet the expected inhibition of growth hormone (GH) and IGF-1 levels after repeat dosing. Preliminary phase IIb data showed a strong dopaminergic activity but only weak evidence of somatostatinergic activity. No safety concerns have been observed throughout the trial. Consequently, Ipsen has decided to discontinue the development of BIM 23A760. Patients will be switched to appropriate approved treatment at the end of their respective monitoring period.

Claude Bertrand, Ipsen's Executive Vice-President, Chief Scientific Officer said: "We are confident in the scientific rational of chimeric molecules as they can show enhanced biological activity compared to co-administered independent compounds. Chimeric molecules represent a powerful avenue for Ipsen on which we will continue to actively progress some of our R&D programs in several disease areas."

In order to grow its leading pituitary disorders franchise, Ipsen will continue to focus its development programmes on Somatuline^®.

Somatuline^® benefits from a longstanding and well-established global commercial footprint. It is now available in more than 45 countries for the treatment of acromegaly and to a lesser extent NET. In 2009, worldwide sales of Somatuline^® amounted to almost €140 million delivering an annual growth rate exceeding 14% since 2004. Current development activity on Somatuline^® includes:

• On-going phase III of Somatuline^® in functioning NET in the USA;
• On-going phase III of Somatuline^® in non-functioning NET giving the opportunity to become first somatostatin analogue to be registered in this indication on a worldwide basis;
• On-going phase III in acromegaly in Japan by Ipsen's partner Teijin;
• Improved device providing both safety and certainty of full dose administration;
• Some innovative formulation programs.

Stéphane Thiroloix, Ipsen's Executive Vice-President, Corporate Development added: "Despite the discontinuation of BIM 23A760 development, Ipsen remains fully committed to bringing value-added therapies to patients and clinicians in endocrinology, especially in the treatment of statural and pituitary disorders. Patients suffering from acromegaly and, in some countries, neuroendocrine tumours, already benefit from Somatuline^®. We are actively engaged in improving the availability of Somatuline^® for patients in need, in exploring its full potential for use in additional indications, and in further improving the medical value and patient-friendliness of therapy in those indications."