On a journey to find and fuel new biotech ventures, Arix adds France's Ipsen to its network of partners
Arix Bioscience is clearly in a deal-making mood, striking a new collaboration with France’s Ipsen (Euronext: $IPN) just a day after announcing a partnership with Fosun in China.
Today’s agreement, like Arix’s previous ones, is painted in broad strokes. With a goal to develop and commercialize innovative therapies, Arix (LSE: $ARIX) offers access to its network of advisers and the chance to invest in its businesses in exchange for Ipsen’s R&D and commercial expertise. Together, the partners will identify opportunities to create joint ventures.
“We look forward to working together and supporting the next generation of companies developing life-changing medicines for patients,” Ipsen CEO David Meek said in a statement.
The move helps the London-based life science company increase its presence in Europe, adding to a similar deal it’s done with Belgium’s UCB Pharma. It also solidifies Arix’s business model, which involves building biotechs through both monetary investment and expert support.
Strategic relationships are crucial to that model, which is why Arix has inked deals with Takeda Ventures and Fosun in Asia to take advantage of their industry knowledge. The Fosun deal in particular focuses on the growing Chinese market, seizing on the conglomerate’s position as a leading drug distributor and knowledge of investment opportunities in the country.
Meanwhile, Arix has also gone solo on a dozen of investments in the past two years, backing startups like next-gen CAR-T player Autolus and immune modulator developer Atox Bio.
“Arix is committed to acquiring interests in, and assisting in the development of, businesses that bring medical innovation and address important areas with limited available treatment options,” said CEO Joe Anderson.