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News Breaks | | | | October 3, 2012 | | 05:30 EDT |  | IPSEY | Ipsen provides update on recent agreement with Inspiration
Ipsen announced that Inspiration Biopharmaceuticals had not raised third party financing by the contractual deadline of Sept. 30. Consequently, Ipsen is no longer obligated to pay the additional $12.5M in exchange for Inspiration equity. The parties continue to explore various options. On Aug. 31, Ipsen paid Inspiration $7.5M as part of the agreement renegotiated on Aug. 21, 2012. | |
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