Eton Pharma To Buy SPIGFD Drug Increlex From Ipsen

(RTTNews) - Eton Pharmaceuticals, Inc (ETON) announced Thursday that it has entered into an asset purchase agreement to acquire Increlex (mecasermin injection) from Ipsen S.A. (IPSEY). The financial details of the deal were not disclosed.

The pharmaceutical company focused on treatments for rare diseases said the acquisition is expected to close near year-end 2024.

Increlex is a biologic product used to treat children and adolescents from 2- to 18-years-old who suffer from severe primary insulin-like growth factor 1 deficiency or SPIGFD because their bodies do not make enough insulin-like growth factor 1 (IGF-1).

The medicine is approved in 40 territories, including the United States and the European Union, and it is the only treatment approved for SPIGFD by the U.S. Food and Drug Administration and European Medicines Agency.

It is estimated that around 200 patients in the United States and 900-1,000 patients in Europe live with SPIGFD.

Following the deal closure, Eton plans to immediately commercialize the product in the U.S. without disruption to patient supply. Outside the U.S., Ipsen will continue distributing the product during a six-month transition period to ensure no disruption to patient supply, after which the commercialization will be continued by Eton.

Eton would finance the deal with cash on hand and an expansion of the company's existing credit facility with SWK Holdings. Ipsen reported global sales for Increlex of 17.3 million euros in 2023.

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