
Late-breaking exploratory data highlights the impact of IQIRVO® (elafibranor) on fatigue and provides mechanistic insights into anti-inflammatory and symptom-related effects in patients with primary biliary cholangitis
PARIS, FRANCE, 7 May 2025 Today, Ipsen (Euronext: IPN; ADR: IPSEY) announced new data from two late-breaking presentations on IQIRVO
®
(elafibranor) during the European Association for the Study of the Liver congress.
Additional analyses from the ELATIVE
®
study (LBP-027) suggest that patients with primary biliary cholangitis (PBC) treated with IQIRVO had greater improvements in fatigue compared to placebo after 52 weeks, as measured by both the PROMIS Fatigue Short Form 7a questionnaire (42.9% IQIRVO versus 31.3% placebo) and PBC-40 fatigue domain (22.6% IQIRVO versus 15.4% placebo). Among patients with moderate-to-severe fatigue at baseline, more than twice as many patients treated with IQIRVO (66.7%) achieved clinically meaningful improvements compared to placebo (31.3%). Importantly, the data suggest that the positive effect of IQIRVO on fatigue occurs independently of its effect on pruritus.
1
'For so many patients living with PBC, fatigue is a debilitating symptom that can impact their ability to perform daily tasks or participate in social activities,' said Dr David Jones, Professor of Liver Immunology for the Faculty of Medical Science at Newcastle University. 'As a physician treating people with PBC, these new data are providing important insights into how the action of IQIRVO could impact fatigue.'
These findings are supported by additional late-breaking exploratory data (LBP-025) from a comprehensive proteomic analysis with longitudinal samples from patients in ELATIVE
®
evaluated using Olink
®
technology covering more than 5,500 proteins. Over 20 proteins involved in disease biology mapping to pathways involved in inflammation and immune response, bile acids and lipid homeostasis, fibrosis, and key PBC symptomatic domains, including pruritus and fatigue, had changes in expression in patients treated with IQIRVO with biochemical response at Week 52. Effects observed on fatigue-associated proteomic signatures appeared to be associated with PPARα activation.
2
'These mechanistic data reinforce the value of IQIRVO as an important treatment option for people with PBC,' said Sandra Silvestri, MD, EVP and Chief Medical Officer, Ipsen. 'Today, we have a clearer understanding of the molecular action of PBC. We believe the more we learn about a disease, the more effective we can be in developing treatments for patients that address both the disease and debilitating symptoms.'
PBC is a rare, autoimmune liver disease where a build-up of bile and toxins and chronic inflammation causes irreversible fibrosis of the liver and destruction of the bile ducts. Impacting approximately 100,000 people in the US and 165,000 people in Europe, the majority being women, PBC is a lifelong condition that can worsen over time if not effectively treated and may lead to liver transplant and in some cases, premature death.
About IQIRVO® (elafibranor)
IQIRVO (pronounced EYE-KER-VO) is an oral, once-daily, peroxisome proliferator-activated receptor (PPAR) agonist, which exerts an effect on PPARα and PPARδ. Activation of PPARα and PPARδ decreases bile toxicity and improves cholestasis by modulating bile acid synthesis, detoxification and transporters. Activation of PPARα and PPARδ also has anti-inflammatory effects by acting on different pathways. In 2019, IQIRVO was granted Breakthrough Therapy Designation by the U.S Food and Drug Administration (FDA) in adults with PBC who have an inadequate response to ursodeoxycholic acid (UDCA) the existing first-line therapy for PBC. IQIRVO was granted U.S. FDA accelerated approval in June 2024, EU conditional approval by the European Commission (EC) in September 2024 and UK Medicines and Healthcare products Regulatory Agency (MHRA) approval in October 2024, for the treatment of primary biliary cholangitis (PBC) in combination with ursodeoxycholic acid (UDCA) in adults who have an inadequate response to UDCA, or as monotherapy in patients unable to tolerate UDCA. The FDA, EC and MHRA approvals are contingent on the further verification of clinical benefit. IQIRVO is currently in regulatory processes with other authorities. IQIRVO (elafibranor) was developed by GENFIT. Ipsen licensed the exclusive worldwide rights (except China, Hong Kong, Taiwan and Macau) to elafibranor from GENFIT in 2021.
About ELATIVE
ELATIVE is a multi-center, randomized, double-blind, placebo-controlled Phase III clinical trial, with an open-label long-term extension (NCT04526665). ELATIVE is evaluating the efficacy and safety of elafibranor 80mg once daily versus placebo for the treatment of patients with PBC with an inadequate response or intolerance to ursodeoxycholic acid (UDCA), the existing first-line therapy for PBC. The trial enrolled 161 patients who were randomized 2:1 to receive elafibranor 80mg once daily or placebo. Patients with an inadequate response to UDCA would continue to receive UDCA in combination with elafibranor or placebo, while patients unable to tolerate UDCA would receive only elafibranor or placebo. Patients continued their assigned treatment after Week 52 until all patients had completed their treatment or for a maximum of 104 weeks. The open-label long-term extension of ELATIVE remains ongoing.
ENDS
About Ipsen
We are a global biopharmaceutical company with a focus on bringing transformative medicines to patients in three therapeutic areas: Oncology, Rare Disease and Neuroscience.
Our pipeline is fueled by external innovation and supported by nearly 100 years of development experience and global hubs in the U.S., France and the U.K. Our teams in more than 40 countries and our partnerships around the world enable us to bring medicines to patients in more than 80 countries.
Ipsen is listed in Paris (Euronext: IPN) and in the U.S. through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY). For more information, visit
ipsen.com
.
Ipsen contacts
Investors
Media
Disclaimers and/or Forward-Looking Statements
The forward-looking statements, objectives and targets contained herein are based on Ipsen's management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. All of the above risks could affect Ipsen's future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words 'believes', 'anticipates' and 'expects' and similar expressions are intended to identify forward-looking statements, including Ipsen's expectations regarding future events, including regulatory filings and determinations. Moreover, the targets described in this document were prepared without taking into account external-growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by Ipsen. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising medicine in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. Ipsen must face or might face competition from generic medicine that might translate into a loss of market share. Furthermore, the research and development process involves several stages each of which involves the substantial risk that Ipsen may fail to achieve its objectives and be forced to abandon its efforts with regards to a medicine in which it has invested significant sums. Therefore, Ipsen cannot be certain that favorable results obtained during preclinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the medicine concerned. There can be no guarantees a medicine will receive the necessary regulatory approvals or that the medicine will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Other risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and healthcare legislation; global trends toward healthcare cost containment; technological advances, new medicine and patents attained by competitors; challenges inherent in new-medicine development, including obtaining regulatory approval; Ipsen's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of Ipsen's patents and other protections for innovative medicines; and the exposure to litigation, including patent litigation, and/or regulatory actions. Ipsen also depends on third parties to develop and market some of its medicines which could potentially generate substantial royalties; these partners could behave in such ways which could cause damage to Ipsen's activities and financial results. Ipsen cannot be certain that its partners will fulfil their obligations. It might be unable to obtain any benefit from those agreements. A default by any of Ipsen's partners could generate lower revenues than expected. Such situations could have a negative impact on Ipsen's business, financial position or performance. Ipsen expressly disclaims any obligation or undertaking to update or revise any forward-looking statements, targets or estimates contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. Ipsen's business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers. The risks and uncertainties set out are not exhaustive and the reader is advised to refer to Ipsen's latest Universal Registration Document, available on
ipsen.com
.
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Press release announcing the transaction June 6, 2025 Publication of the information notice in the BALO June 10th 2025 Detachment of preferential subscription rights and start of trading of preferential subscription rights on Euronext Growth Paris June 12th, 2025 Opening of the subscription period June 18, 2025 End of DPS trading period June 20, 2025 End of subscription period june 24, 2025 Decision to exercise the extension clause Press release announcing the results of the Offer june 25, 2025 Publication by Euronext Paris of the notice of admission of the final amount of the capital increase and the allocation scale for subscriptions subject to reduction (reducible basis) june 27, 2025 Issue and settlement of new shares Admission and start of trading of the new shares on Euronext Growth Paris The above timetable will be followed by the regulatory publications of the new total number of shares and the usual legal formalities. Undertaking by the Company to refrain from trading in the Company's shares and lock-up agreement The Company has entered into a lock-up agreement for a period expiring 90 calendar days following the settlement-delivery date of the new shares, subject to certain customary exceptions. Commitment and subscription intentions The holder of convertible bonds (OCAs) affiliated with Heights Capital Management, Inc ("Heights") has indicated its intention to subscribe to the proposed capital increase by offsetting against its claim of 555,645 euros corresponding to the cash redemption of the final maturity date of the convertible bonds of April 28, 2025, representing 11.1% of the capital increase (excluding the exercise of the Extension Clause). 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Ownership date and listing of the new shares The new shares, which will be subject to all the provisions of the Articles of Association, will be created with dividend rights. They will be assimilated to existing shares as soon as they are issued. They will be the subject of an application for admission to trading on Euronext Growth. They will be listed on the same line as existing shares and will be fully assimilated to them as soon as they are admitted for trading. Settlement-delivery and admission of the new shares to trading on Euronext Growth Paris is scheduled for June 27, 2025. Undertaking to retain shares None. Impact of the capital increase on shareholders' equity per share The table below summarizes the dilutive impact of the capital increase in euros on shareholders' equity per share under different dilution scenarios linked to the issue: Impact on shareholders' equity in euros per share Non-diluted basis Primary diluted basis(a) Total diluted basis with conversion/amortisation of OCAs(b) Case 1 Case 2 Before issue of new shares -0,05 € 0,16 € 0,27 € 0,25 € After issue of 3,556,199 new shares (100% of the Offer) 0,06 € 0,24 € 0,34 € 0,32 € After issue of 2,667,150 new shares (i.e. 75% of the Offer in the event of limitation) 0,03 € 0,22 € 0,32 € 0,30 € After issue of 4,089,628 new shares (i.e. 115% of the Offer in the event of exercise of the extension clause) 0,07 € 0,25 € 0,35 € 0,33 € (a) Reflects the dilution of : 950,700 shares allocated free of charge by the Company during the vesting period 3,635,556 BSAs issued in December 2024 may give the right to subscribe for a total of 4,544,445, shares at a price of €2.25 per share (four BSAs giving the right to subscribe for five ordinary shares). (b) Reflects the exercise of the bonds convertible into new shares and redeemable for shares (OCAs) issued on February 28, 2024 and February 7, 2025, in accordance with the terms and conditions set out below. The dilution cases relating to the OCAs are based on the assumptions set out below: Case 1 In the event of conversion of all the OCAs at the conversion price of 1.677 euros (subject to adjustment)The Company does not redeem any shares. Case 2 The OCA holder chooses not to convert any OCAs into Company elects to redeem all the OCAs in shares, and the redemption1 euro (subject to the investor holding 9.99% of the Company's capital). Common assumptions Calculations based on the number of shares making up the Company's share capital at the date of this press release, i.e. 46,230,596 shares. The holder of the convertible bonds never holds more than 9.99% of the Company's share capital at each conversion or redemption into shares. Impact of the capital increase on the situation of shareholders who do not subscribe to the transaction For information purposes, the impact of the capital increase on the situation of a shareholder holding 1% of CROSSJECT's share capital prior to the capital increase and not subscribing to it would be as shown below. Shareholding of a shareholder holding 1% of the capital prior to the offer Non-diluted basis Primary diluted basis(a) Total diluted basis with conversion/amortisation of OCAs(b) Case 1 Case 2 Before issue of new shares 1,00 % 0,89% 0,82% 0,78% After issue of 3,556,199 new shares (100% of the Offer) 0.93% 0.84% 0,77% 0,73% After issue of 2,667,150 new shares (i.e. 75% of the Offer in the event of limitation) 0,95% 0,85% 0,78% 0,74% After issue of 4,089,628 new shares (i.e. 115% of the Offer in the event of exercise of the extension clause) 0,92% 0,83 0,77% 0,73% (a) Reflects the dilution of : 950,700 shares allocated free of charge by the Company during the vesting period 3,635,556 BSAs issued in December 2024 may give the right to subscribe for a total of 4,544,445 shares at a price of 2.25 euros per share (four BSAs giving the right to subscribe for five ordinary shares). (b) Reflects the cases of exercise of the Bonds Convertible into New and Redeemable Shares (OCAs) issued on February 28, 2024 and February 7, 2025, in accordance with the terms specified above. CROSSJECT is being advised in this transaction by D'Hoir Beaufre Associé Market Solutions is acting as Lead Manager and Bookrunner. Risk factors relating to the Offer Shareholders who do not exercise their preferential subscription rights will see their stake in the Company's capital diluted; The market for preferential subscription rights may offer only limited liquidity and be subject to high volatility; The market price of the Company's shares could fluctuate and fall below the subscription price of the new shares from the announcement of the offer, during the subscription period or at any time after the close of the offer; The volatility and liquidity of the Company's shares could fluctuate significantly; In the event of a fall in the market price of the Company's shares, preferential subscription rights could lose their value. Shareholders could see their interest in the Company's share capital diluted in the event of a new public offering. Issuer risk factors The Company draws the public's attention to the risk factors relating to its activities presented in section 8. Analysis of business trends in relation to the volume and complexity of business in its 2024 annual report, online on the Company's website ( and in notes 3. a) "Going concern" and 27 "Events after the period-end" to the 2024 annual financial statements. Warning Insofar as the amount of the Offer is less than €8 million (calculated over a 12-month period), the planned issue will not give rise to a prospectus approved by the AMF. About CROSSJECT CROSSJECT SA (Euronext: ALCJ; is an emerging specialty pharmaceuticals company developing medicines for emergency situations harnessing its award-winning needle-free auto-injector ZENEO® platform. CROSSJECT is in advanced regulatory development for ZEPIZURE®, an epileptic rescue therapy, for which it has a $60 million contract* with BARDA. The Company's versatile ZENEO® platform is designed to enable patients or untrained caregivers to easily and instantly deliver a broad range of emergency drugs via intramuscular injection on bare skin or even through clothing. The Company's other products in development mainly include solutions for allergic shocks and adrenal insufficiencies, as well as therapies and other emergency indications. * This project has been supported in whole or in part with federal funds from the US Department of Health and Human Services; Administration for Strategic Preparedness and Response; BARDA, under contract number 75A50122C00031. *** For further information, please contact: Investor Relationsinvestors@ 1 Gemmes Venture will sell 3,741,536 preferential subscription rights to Heights for a price of 1 euro, to enable it to subscribe to the planned capital increase on an irreducible basis, by offsetting its entire claim (taking into account the preferential subscription rights already held by Heights).Gemmes Venture will also sell 7,301,880 preferential subscription rights at a price of 1 euro to Vatel Capital to enable it to subscribe 561,683 new shares to the planned capital increase. Vatel Capital also reserves the right to acquire other preferential subscription rights on the market and will subscribe to the balance of its subscription commitment on a reducible basis. Attachment Launch of a capital increaseSign in to access your portfolio
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Welldoc Works with Lilly to Launch a New Personalized Health & Medicine Platform for Those Prescribed Lilly's Incretin Therapies
Providing Cardiometabolic Digital Health Support for Patients prescribed Zepbound® (tirzepatide) or Mounjaro® (tirzepatide) COLUMBIA, Md., June 04, 2025--(BUSINESS WIRE)--Welldoc®, a leader in AI-powered digital health innovation, today announced it will power the newly launched Lilly Health™ Personalized Health & Medicine Platform* (Lilly Health app) with its cardiometabolic digital health platform. The Lilly Health app is designed to support a tailored patient experience for individuals interested in or using Eli Lilly and Company's incretin-based therapies, for the treatment of cardiometabolic conditions, such as obesity, type 2 diabetes and moderate- to-severe obstructive sleep apnea and obesity. Initially, the Lilly Health app will be available for patients prescribed Zepbound® (tirzepatide)** or Mounjaro® (tirzepatide)**. Lilly and Welldoc aim to build a more seamless patient experience through educational resources and targeted support. The Lilly Health app will provide features to help patients with their cardiometabolic health goals and weight, such as medication logging, reminders, device connectivity and health data tracking. "We are incredibly proud to expand our impactful work with Lilly. Welldoc's robust and AI-powered digital health platform is uniquely equipped to be a powerful foundation for the Lilly Health app," said Kevin McRaith, President and CEO of Welldoc. "Our proven ability to integrate complex data, deliver personalized insights and support individuals across multiple cardiometabolic conditions positions us as the ideal technology partner for Lilly's ambitious vision. We are confident that our scalable and secure platform will enable Lilly Health to deliver a truly transformative and connected experience for patients." The Lilly Health app is built upon Welldoc's well-established digital cardiometabolic platform, which provides individuals with extensive device and data connectivity, in-app nutrition and exercise resources, and comprehensive trends and insights to help individuals manage complex cardiometabolic conditions with their providers and optimize their overall health over time. About Welldoc Welldoc®, a digital health leader revolutionizing cardiometabolic care, is integrating personalized, real-time and actionable insights into the daily lives of individuals living with cardiometabolic conditions, enabling improved health and outcomes. Welldoc's comprehensive digital health platform provides AI-powered digital coaching across pre-diabetes, diabetes, hypertension, heart failure and weight and obesity management, with integrated mental wellbeing and sleep support. Welldoc is an FDA-cleared digital health solution that guides individuals through the complicated journey of living with diabetes by enabling them to self-manage their care while enhancing connections to their healthcare team. The company partners with health plans, health systems and employers with the goal of extending care, improving health and reducing costs. Welldoc has achieved 11 510(k) clearances for diabetes functionality within its digital health platform, and an IP portfolio of 50+ patents for its advanced AI and first-in-class tech. With over 90 clinical publications, Welldoc has also built an extensive library of clinical research, including many publications focused on the value of combining CGM with AI-powered digital health solutions. Welldoc is an industry thought leader and has been showcased in prestigious conferences and publications, including South by Southwest, The Wall Street Journal and The Economist. The company has been named the "Best Overall Digital Health Company" by MedTech Breakthrough for the past two years and was selected as a winner of the 2025 AI Excellence Awards by Business Intelligence Group, 2024 Healthcare AI Impact Awards, Innovation Awards by Business Intelligence Group and Top 100 Healthcare Technology Companies by the Healthcare Technology Report. For more information, visit Follow us on LinkedIn and X. *Lilly Health™ Personalized Health & Medicine Platform Lilly Health Personalized Health & Medicine Platform is intended for use as a health management aid for adult patients 18 years or older who have been prescribed Zepbound® (tirzepatide) or Mounjaro® (tirzepatide). Lilly Health provides Zepbound and Mounjaro users with medication reminders, medication dose logging, and health data logging. Lilly Health is not intended to provide treatment decisions or replace the care and advice of a licensed Health Care Provider (HCP). All medical analysis and treatment plans should be performed by a licensed HCP. ** Zepbound® (tirzepatide) Zepbound is an injectable prescription medicine that may help adults with: obesity, or some adults with overweight who has have weight-related medical problems to lose excess body weight and keep the weight off moderate-to-severe obstructive sleep apnea (OSA) and obesity to improve their OSA. It should be used with a reduced-calorie diet and increased physical activity. Zepbound contains tirzepatide and should not be used with other tirzepatide-containing products or any GLP-1 receptor agonist medicines. It is not known if Zepbound is safe and effective for use in children. See for full indications of use. **Mounjaro® (tirzepatide) Mounjaro is an injectable prescription medicine that is used along with diet and exercise to improve blood sugar (glucose) in adults with type 2 diabetes mellitus. It is not known if Mounjaro can be used in people who have had pancreatitis. Mounjaro is not for use in people with type 1 diabetes. It is not known if Mounjaro is safe and effective for use in children under 18 years of age. See for full indications of use. View source version on Contacts Sylvia ArandaReal Chemistrysaranda@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data