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19/05/2015

IPSEN to acquire all shares in Octreopharm Sciences GmbH

Berlin, Germany

Berlin, 19 May 2015. Eckert & Ziegler Radiopharma GmbH (EZR) and a group of start-up investors have signed a purchase agreement with French pharmaceutical company IPSEN for all shares of Octreopharm Science GmbH (OPS), a drug development company located in Berlin-Buch. The deal, which is subject to various conditions precedent, has an overall value of about 50 mm EUR, milestones included.

EZR owns about third of OPS and would book extraordinary profits from the sale of shares if the deal becomes effective. Guidance about the profit impact of the transaction will be given, once the deal is closed, in EZAG’s subsequent quarterly report at the latest.

“Helping OPS getting off the ground and positioning EZR as a service partner for the radio-labeling of pharmaceuticals were our main objectives when we started OPS five years ago in Berlin-Buch”, said Dr. André Heß, head of Eckert & Ziegler’s pharmaceutical segment. “We are happy now to pass OPS on to a partner with an extensive expertise in neuroendocrine tumors (NET). Furthermore, the deal includes a long term strategic agreement between the purchaser and EZR, giving EZR a prominent role as a contract manufacturer for the radio-labeling of the OPS therapeutic compound.

OPS, who develops innovative medication for the clinical management of neuroendocrine tumors, recently had convincing preliminary clinical results for its lead compound OPS202. The company was founded in 2009 by nuclear medicine industry insiders. OPS closed its first financing round in 2011, with Eckert Life Science Accelerator, Berlin acting as lead investor for KfW Mittelstandsbank together with VC Fonds Technologie Berlin (IBB Beteiligungsgesellschaft). In a second round, OPS was supported by Shaanxi Xinyida Investment Co. Ltd., China and Eckert & Ziegler AG.

Note: The announcement that Ipsen acquires Octreopharm Sciences has been taken from www.ezag.com .

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