MA: Ipsen to Relocate U.S. R+D Activities to Cambridge in 2014
1 Oct, 2013
Ipsen announced plans to relocate its U.S. R&D operations from Milford to Cambridge, MA - a leading hub for biotechnology research. This site will be key for innovation in targeted therapies across Ipsen's specialty areas as well as a center of excellence for peptides. The move also brings Ipsen closer to several key partners based in the Cambridge area, including prominent hospital centers, medical schools, biotech companies and universities, thereby further promoting and facilitating partnerships and open innovation.
"Relocation to Cambridge represents a major leap forward for Ipsen's R&D activities," said Claude Bertrand, Executive Vice President and Chief Scientific Officer, Ipsen. "After the acquisition of Syntaxin, a company at the cutting edge of toxin research, this move is another positive milestone in the consolidation of Ipsen's global leadership in peptides."
"Ipsen is honored and eager to join the Cambridge community, home to scientific excellence and unparalleled medical innovation," said Cynthia Sylvestre, President, Biomeasure and Vice President and Milford Site Head, Ipsen. "This move reflects our commitment to remain at the cutting edge of research and development to ultimately provide life-saving therapies to patients in need."
The company signed an eleven-year lease on 62,600 rentable square-feet of laboratory and office space within the 280,000 square-foot building located at 650 East Kendall Street. The deal was brokered by Cresa Corporate Real Estate and the property is owned by BioMed Realty Trust Inc.
Ipsen is a global specialty-driven pharmaceutical company with total sales exceeding EUR1.2 billion in 2012. Ipsen's ambition is to become a leader in specialty healthcare solutions for targeted debilitating diseases. Its development strategy is supported by 3 franchises: neurology, endocrinology and uro-oncology. Moreover, the Group has an active policy of partnerships. Ipsen's R&D is focused on its innovative and differentiated technological platforms, peptides and toxins. In 2012, R&D expenditure totalled close to EUR250 million, representing more than 20% of Group sales. The Group has close to 4,900 employees worldwide. Ipsen's shares are traded on segment A of Euronext Paris (stock code:IPN)(isin code:FR0010259150) and eligible to the "Service de Reglement Differe" ("SRD"). The Group is part of the SBF 120 index. Ipsen has implemented a Sponsored Level I American Depositary Receipt (ADR) program, which trade on the over-the-counter market in the United States under the symbol IPSEY. For more information on Ipsen, visit www.ipsen.com.