Cangene Corp Terminates Acquisition of Hemophilia Compound IB1001 Amidst Inspiration's Bankruptcy Proceedings : Sectors : Venture Capital Post

By Edward B. Doong

Feb 20, 2013 10:13 AM EST

Daniel Levinson of U.S. Department of Health and Human Services accuses FDA for failing to determine the number of clinical trials conducted for new drugs. (Photo : Reuters)

Cangene Corp. has announced the closure of the acquisition of late stage hemophilia compound IB1001 developed by Ipsen and Inspiration Biopharmaceuticals Inc. for treating and preventing bleeding episodes in hemophilia B patients.

The development of IB1001 program comprises a surgery sub-study and information on safety, pharmacokinetic and efficacy from Phase 3 clinical trials in people with hemophilia B.

The U.S. FDA and the European Medicines Agency (EMA) have been conducting a regulatory review of IB1001.

The closure announcement came after the bankruptcy proceedings filed by Inspiration. Other assets that were also closed include recombinants IB1007 and IB1008 which are in pre-clinical development.