Probi and Ipsen sign extensive Primary Care distribution agreement for probiotic LP299V®, Lactobacillus plantarum 299v
Ipsen and Probi today jointly announced the signature of a license and supply agreement for the commercialization of Probi’s probiotic strain Lactobacillus plantarum 299v (LP299V® ). The agreement covers 18 countries, primarily within EU and emerging markets. This clinicallydocumented probiotic with patents in the gastro-intestinal field is expected to complement Ipsen’s strong medical portfolio in gastroenterology. From Probi’s perspective it could become one of the largest distribution agreements so far, and is of high strategic importance for both companies.
Under this new agreement, Probi will supply bulk LP299V® capsules and Ipsen will be responsible for packaging, marketing and selling the product. The product is planned to be marketed primarily through pharmacies. It is expected to be launched in the first half of 2017 as a food supplement in the European markets, and then, in other key markets such as Russia and China, depending on regulatory approval. The agreement covers in total 18 markets, many with high growth potential, with an option to include additional countries. The product will be marketed under Ipsen’s key brand and Probi’s trademark LP299V®.
Marc de Garidel, Chairman and Chief Executive Officer of Ipsen stated: “Ipsen is delighted to enter the field of probiotics with a very well-recognized and R&D focused company such as Probi. This partnership is fully aligned with our strategy to strengthen our portfolio in the field of gastroenterology and expand into probiotics.” Jean Fabre, Executive Vice President Primary Care added: “This agreement will help sustain Ipsen’s Primary Care growth and accelerate transition to the OTx1 model. The product has strong medical endorsement that will perfectly fit with our expertise and leverage our capabilities towards physicians and pharmacists in many countries.”
Commenting on this partnership, Peter Nählstedt, Chief Executive Officer of Probi noted: “We have found a perfect match with Ipsen – a very well respected pharmaceutical company with high growth ambitions and strong brands in the gastrointestinal field. Through its extensive organization we expect to enter many new markets with LP299V® which will strengthen Probi’s footprint on the global market. We have high expectations and consider the agreement to have a high volume potential.”
Probi’s dietary supplement contains Lactobacillus plantarum 299v, also called LP299V® , a single species of Lactobacillus that was found by Swedish researchers Probi’s dietary supplement has strong clinical evidences for reduction of signs and symptoms of Irritable Bowel Syndrome in adults.
Irritable bowel syndrome (IBS) is a common disorder that affects the large intestine. Patients commonly present with abdominal pain, cramps, bloating, diarrhea and/or constipation. These uncomfortable signs and symptoms do not cause permanent damage to the colon but can be very incapacitating for the daily life.
Probi AB is a Swedish publicly traded bioengineering company that develops effective and well-documented probiotics. Through its world-leading research, Probi has created a strong product portfolio in the gastrointestinal health and immune system niches. Probi’s products are available to consumers in more than 30 countries worldwide. Probi’s customers are leading food, health-product and pharmaceutical companies in the Functional Food and Consumer Healthcare segments. In 2015 Probi had sales of MSEK 216. The Probi share is listed on NASDAQ OMX Stockholm, Small Cap. Probi has about 3,500 shareholders. Read more at www.probi.se.