• Two new discovery-stage oncology programs to be added to long-standing partnership, focusing on novel inhibition of pathways related to the MAP kinase pathway
• Expansion of partnership enhances depth of Ipsen’s growing early development portfolio to deliver first and best-in-class opportunities for patients

PARIS, FRANCE AND MONTREAL, CANADA 22 December 2025 – Ipsen (Euronext: IPN; ADR: IPSEY), Université de Montréal and IRICoR, of the Institute for Research in Immunology and Cancer (IRIC) at the Université de Montréal, announced today a new research collaboration and option agreement. The agreement includes two new discovery-stage programs, focusing on novel inhibition of pathways complementary to the MAP kinase pathway, building on Ipsen’s growing pipeline and established strength of expertise. These new programs mark the second time that the partners have expanded the collaboration and option agreement established in 2020. In 2023, two other discovery-stage programs and a licensing agreement were announced for an investigational RAF inhibitor (IPN01195), now in Phase I clinical trials.

“Throughout this five-year partnership, we continue to recognize the scientific innovation the teams at Université de Montréal and IRICoR are delivering, now with a total of four active research programs,” said David Jenkins, Senior VP, Research and External Innovation, Ipsen. “This new agreement is allowing us to add two new compelling programs to our growing early development portfolio, accelerating bold science where there is the greatest patient need.”

Under the terms of this new collaboration and option agreement, the team of interdisciplinary drug discovery scientists from IRICoR are responsible for identifying, synthesizing, and advancing high-quality therapeutic compounds up to drug candidate stage. Should Ipsen decide to exercise the option, Ipsen would assume all development, manufacturing activities and commercialization of these drug candidates globally.

“We’re delighted to further expand our collaboration with Ipsen, accelerating the promise of these two novel oncology programs,” said Dr. Marc Therrien, General Director of IRIC. “Focusing on areas where there are the highest unmet needs, together, we hope to transform standards of care for the future.”

“This new agreement is an exciting evolution to our long-standing partnership with Ipsen, adding two complementary discovery-stage programs which enrich our existing focus on the MAP kinase pathway,” said Claude Larose, VP Business Development at IRICoR. “We look forward to working together on these programs, with the hope to replicate the progress seen with IPN01195 and bring more opportunities to patients in the clinic.”

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 internal and 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 100 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.

About IRICoR

IRICoR (www.iricor.ca) is a specialized early-stage drug discovery and commercialization organization dedicated to identifying, financing, and de-risking high-potential academic oncology projects – a distinctive niche where few organizations operate with dedicated expertise. Integrated within the Institute for Research in Immunology and Cancer (IRIC) at Université de Montréal, IRICoR combines deep biopharma expertise with industry-level drug discovery capabilities through IRIC’s Drug Discovery Unit. This model enables the rapid translation of early-stage academic innovation into viable therapies. IRICoR maximizes impact through two complementary pathways: establishing partnerships with biopharmaceutical companies or catalyzing the creation of innovative spin-off ventures.

About IRIC

An ultra-modern research hub and training centre located in the heart of the Université de Montréal, the Institute for Research in Immunology and Cancer (IRIC) of the Université de Montréal was created in 2003 to shed light on the mechanisms of cancer and discover new, more effective therapies to counter this disease. IRIC operates according to a model that is unique in Canada. Its innovative approach to research has already led to discoveries that will, over the coming years, have a significant impact on the fight against cancer. For more information about IRIC, visit www.iric.ca.

About Université de Montréal

Deeply rooted in Montreal and dedicated to its international mission, Université de Montréal (UdeM) ranks among the top universities worldwide. With its affiliated schools, Polytechnique Montréal and HEC Montréal, UdeM attracts over $775 million in research funding every year, making it one of the top three university research hubs in Canada. UdeM has more than 67,000 students, 2,300 professors and researchers, and an active global network of 450,000 alumni. The institution is recognized for its excellence in teaching, cutting-edge research, and strong engagement with society, fostering innovation and collaboration across disciplines to address major global challenges.

Ipsen Contacts

Investors
Henry Wheeler                henry.wheeler@ipsen.com        +33 766471149
Khalid Deojee                khalid.deojee@ipsen.com        +33 666019526

Media
Sally Bain                sally.bain@ipsen.com                +1 8573200517
Anne Liontas                anne.liontas.ext@ipsen.com    +33 767347296

Université de Montréal and IRICoR Contact
Noémie Desbois Mackenzie        +1 514 475 7682

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 and risks arising from unexpected regulatory or political changes such as changes in tax regulation and regulations on trade and tariffs, such as protectionist measures, especially in the United States; 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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• Ipsen Media Update_IRICoR_22122025