Ipsen acquires rights to preclinical T cell engager in $610M deal with French biotech

Ipsen, a prominent French pharmaceutical company, continues to expand its oncology pipeline through strategic licensing agreements. The latest deal involves a preclinical T cell engager developed by Biomunex, another Paris-based drugmaker. Ipsen has committed up to $610 million in upfront and milestone payments, in addition to tiered royalties on sales, to secure the global rights to Biomunex’s BMX-502. Biomunex, which also operates an office in Cambridge, MA, will handle the initial IND-enabling activities, while Ipsen will manage Phase 1 and subsequent trials.

This agreement marks at least the fifth oncology-related deal Ipsen has made this year, aligning with its broader strategy to enhance its pipeline across three primary therapeutic areas: oncology, rare diseases, and neuroscience. Philippe Lopes-Fernandes, Ipsen's chief business officer, noted in an interview that the volume of deals made this year is indicative of the company's strategy moving forward. While oncology has been a significant focus this year, Lopes-Fernandes suggested that future deals might shift towards other therapeutic areas.

BMX-502 is a bispecific antibody designed to engage and activate mucosal-associated invariant T (MAIT) cells and target the GPC3 antigen, which is found in several types of tumors. MAIT cells are particularly abundant in mucosal and barrier tissues, and targeting them specifically could mitigate some of the challenges associated with pan T cell engagers, such as cytokine release syndrome. This approach is distinct from other T cell engagers in Ipsen’s portfolio, including those partnered with Marengo Therapeutics. Indeed, the collaboration with Marengo was expanded in June to incorporate two trispecific antibody candidates.

In addition to the Biomunex and Marengo agreements, Ipsen has secured several other notable oncology deals this year. In April, Ipsen obtained exclusive rights to Sutro Biopharma’s ROR1-targeting antibody-drug conjugate (ADC) for solid tumors, involving near-term payments of $90 million. Another significant deal occurred in July when Ipsen acquired the rights to a different ADC from China’s Foreseen Biotechnology. This agreement included up to $1.03 billion in upfront payments, milestones, and tiered royalties. Lastly, Ipsen paid $111 million upfront for the ex-US rights to Ojemda, a pediatric low-grade glioma treatment developed by Day One Biopharmaceuticals.

Lopes-Fernandes emphasized that while Ipsen will continue to engage in bolt-on licensing deals to bolster its pipeline, the company is also on the lookout for later-stage assets that could justify an acquisition. This multi-faceted approach underscores Ipsen’s commitment to enhancing its therapeutic offerings and addressing unmet medical needs in oncology, rare diseases, and neuroscience.

In summary, Ipsen's recent deal with Biomunex reflects its ongoing strategy to strengthen its oncology portfolio through strategic collaborations and acquisitions. This approach not only aims to expand Ipsen’s market presence but also underscores its dedication to advancing innovative treatments in its core therapeutic areas.