Ipsen [EPA:IPN], a French biopharmaceutical company, continuously looks for M&A deals, with EUR 2bn of financing capability in cash and debt facilities, Executive Vice President and Chief Business Officer Philippe Lopes-Fernandes said.

The EUR 9bn market cap company is debt-free, the exec said.

Ipsen produces and develops therapies in the fields of oncology, rare diseases, and neuroscience. It has made several acquisitions in rare diseases lately, so it is looking for deals in oncology and neuroscience, Lopes-Fernandes told this news service on the sidelines of BIO-Europe in Stockholm last week. However, it won’t pass up a good opportunity in rare diseases, he added.

The Paris-headquartered company is strong in oncology and neuroscience, and growing in rare diseases, Lopes-Fernandes continued. For example, it has built a rare liver disease franchise, he said. By 2028, the aim is for the business to have 40% of sales in oncology, 30% in neuroscience and 30% in rare diseases, he said.

Ipsen looks for M&A deals in Europe and the US, the exec said. When it comes to licensing, it can look further afield, including in China, he said. It could also consider licensing deals in India, as it has a lot of innovation, he added.

The company bought out Albireo Pharma, a Boston, Massachusetts-headquartered innovator in rare liver diseases, from the stock exchange in 2023, as reported. The consideration was USD 1.27bn according to Mergermarket’s database. Goldman Sachs acted as financial advisor and Orrick Herrington & Sutcliffe as legal advisor to Ipsen.

Ipsen has a solid deal flow, having added seven programs via inlicensing and acquisition this year, Lopes-Fernandes said. In July, for example, it announced an ex-US licensing agreement with Day One Biopharmaceuticals [NASDAQ:DAWN] to commercialise tovorafenib, a treatment for the most common form of childhood brain cancer, he pointed out.

The company also does VC-style deals and can invest in companies as early as in Series A stage, the exec said. It often takes equity stakes in companies alongside licensing deals, he said.