Ipsen, a global specialty-driven biotechnological group, and 3B Pharmaceuticals GmbH (3B Pharmaceuticals), a German private life sciences company focusing on targeted radiopharmaceutical drugs and diagnostics for oncology indications, announced today the signature of an exclusive license agreement for novel radiopharmaceuticals in oncology.

Ipsen acquires exclusive worldwide rights to develop and commercialize novel radiopharmaceuticals targeting the neurotensin receptor. Ipsen will focus on the development of the lead program currently in preclinical development for the treatment of pancreatic adenocarcinoma and potentially other oncology indications.

Claude Bertrand, Executive Vice president R&D, Chief Scientific Officer at Ipsen stated: “Ipsen is very pleased to enter into an agreement with 3B Pharmaceuticals. This program is fully aligned with our strategy to strengthen our pipeline in niche oncology indications as well as in the field of radiopharmaceuticals following our recent acquisition of OctreoPharm GmbH.”

Ulrich Reineke, Managing Director of 3B Pharmaceuticals, added: “We are very pleased to enter into this agreement with Ipsen, a company with a strong commitment to radiopharmaceuticals. This agreement emphasizes the growing importance of nuclear medicine in targeted cancer therapy, and we hope that the neurotensin receptor-targeting radiopharmaceuticals will improve the lives of seriously ill cancer patients.”

Under the financial terms of the agreement 3B Pharmaceuticals will receive a licensing upfront payment and is eligible to receive development and regulatory milestones of up to 82 million Euros for several indications as well as tiered royalties on world-wide annual net sales of products developed and commercialized by Ipsen.

About 3B Pharmaceuticals

3B Pharmaceuticals is a German life sciences company developing targeted radiopharmaceutical drugs and diagnostics for oncology indications with a high unmet medical need. As a leader in peptide discovery and optimization, 3B Pharmaceuticals has built a technology platform extending from hit identification to early clinical development. 3BP was founded in 2008 by a team of renowned experts in peptide drug discovery and nuclear medicine from Berlin, Bern and Basel. The company is privately owned by its founders and management. . For more information on 3B Pharmaceuticals, visit www.3b-pharma.com.