LAGUNA NIGUEL, Calif., Nov. 19, 2010 /PRNewswire/ — Inspiration
Biopharmaceuticals, Inc. (Inspiration) today announced the Company
has initiated treatment of patients in a pivotal clinical study of
OBI-1, an intravenous recombinant porcine factor VIII (FVIII)
product, for the treatment of acquired hemophilia A, a rare, though
potentially life-threatening bleeding disorder. Based on a
partnership agreement signed with Ipsen SA (Euronext: IPN; ADR:
IPSEY) in January 2010, Inspiration has received a $50 million
milestone payment by Ipsen. In return, Inspiration has issued
to Ipsen a note, which may be converted to Series C preferred
stock, bringing Ipsen’s fully diluted share ownership position in
Inspiration to 34%.
Under the terms of the agreement, Inspiration in-licensed OBI-1
from Ipsen, and is responsible for the clinical development,
regulatory approval and commercialization of the product.
Inspiration is developing OBI-1 for the treatment of
individuals with acquired hemophilia A and individuals with
congenital hemophilia A who have developed inhibitors against human
FVIII.
Dr. Anne Greist, at the Indiana Hemophilia and Thrombosis
Center, in Indianapolis, Indiana, stated, “Acquired hemophilia is a
condition in which patients develop antibodies against their own
coagulation factors. Affecting men and women equally,
acquired hemophilia can lead to a life-threatening crisis for
patients. Unfortunately, current therapies are often
inadequate to stop these types of acute bleeding episodes, and new
innovative therapeutic approaches are needed. We are pleased
to have been the first site in the U.S. to enroll a patient in the
pivotal study of OBI-1, a promising and important new product
candidate in the treatment of acquired hemophilia.”
Michael Griffith, Ph.D., President and CEO of Inspiration,
commented, “We are excited to report the initiation of our pivotal
clinical trial of OBI-1, one of two product candi
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