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Its price soared 40% as soon as the stock market opened. Friday, December 17, the Lille biotechnology laboratory Genfit entered into an exclusive licensing agreement with the French laboratory Ipsen to develop one of its drugs, elafibranor, an experimental treatment for people with primary biliary cholangitis, an autoimmune disease of the liver. At the same time, Ipsen becomes one of the first shareholders of Genfit up to 8% of the capital, through an investment of 28 million euros.
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“We always considered building the necessary infrastructure to go to market, but it was riskier than a partnership, very expensive and did not guarantee to be commercially competitive.”, explained at a press conference Pascal Prigent, CEO of Genfit, to justify the agreement with Ipsen. Elafibranor is currently in phase III, the last phase of clinical development, for the first expected results “Around the first quarter of 2023”, according to Pascal Prigent.
Genfit tackles liver disease
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