MARKETERIPSEN

Iqirvo® (elafibranor) is a first-in-class, once-daily oral peroxisome proliferator-activated receptor (PPAR) alpha and delta agonist indicated for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid (UDCA) in adults with an inadequate response to UDCA or as monotherapy in patients unable to tolerate UDCA. PBC is a rare, chronic cholestatic liver disease that primarily affects women. PBC is characterized by the destruction of interlobular bile ducts, which leads to cholestasis and inhibits the liver’s ability to clear toxins from the body. Over time, PBC can lead to liver fibrosis and cirrhosis and, ultimately, liver failure. Iqirvo received accelerated approval from the FDA in June 2024 and conditional marketing authorization from the EMA in September 2024.

Background

HealthCare Royalty has agreed to acquire a portion of royalties on net sales of Iqirvo due to Genfit from Ipsen (which holds global commercial rights to Iqirvo outside certain Asian countries) pending achievement of certain closing conditions. The transaction meaningfully extends Genfit’s cash runway, allowing the Company to repay its outstanding convertible bonds and continue to invest in its wholly-owned pipeline of development candidates focused on the treatment of Acute-on-Chronic Liver Failure (ACLF).