Ipsen Announces License Agreement With PregLem SA In Field of Reproductive Medicine

Regulatory News:

Ipsen (Paris:IPN) today announces that it has executed a license
agreement with PregLem SA, a biopharmaceutical company specialising in
the treatment of benign gynaecological conditions and infertility.

Under the terms of the agreement, Ipsen grants PregLem worldwide
development and commercialisation rights to a selected range of
compounds in a number of specific potential indications in the field
of reproductive medicine only. The compounds include steroid
sulphatase inhibitors and somatostatin antagonists, which are, for
most of them, at an early stage of development. Ipsen also assigns to
PregLem certain patent rights applicable in the treatment of human
infertility.

In return, Ipsen will receive royalties on future sales of
products successfully developed by PregLem.

Sutrepa (an affiliate of Ipsen) has taken a minority equity stake
in the company and will appoint a representative to PregLem's board of
directors. Additional shareholders in PregLem SA include the investors
Sofinnova Partners, NeoMed Management, MVM Life Sciences and the
founders.

Commenting on the agreement, Stephane Thiroloix, Ipsen Executive
Vice-President, Corporate Development, said that "Ipsen, as an
innovation-driven pharmaceutical company focused in the therapeutic
areas of oncology, endocrinology and neuromuscular disorders, is
pleased to be working with PregLem on this exciting opportunity to
leverage our assets in the additional field of reproductive medicine.
Preglem has solid financial backing and specialised expertise in the
field of reproductive medicine which makes it the perfect partner to
develop Ipsen's licensed compounds".

About Ipsen

Ipsen is an innovation driven international specialty
pharmaceutical group with over 20 products on the market and a total
worldwide staff of nearly 4,000. The company's development strategy is
based on a combination of products in targeted therapeutic areas
(oncology, endocrinology and neuromuscular disorders) which are growth
drivers, and primary care products which contribute significantly to
its research financing. This strategy is also supported by an active
policy of partnerships. The location of its four Research and
Development centres (Paris, Boston, Barcelona, London) gives the Group
a competitive edge in gaining access to leading university research
teams and highly qualified personnel. In 2006, R&D expenditure was EUR
178.3 million, i.e. 20.7% of consolidated sales, which amounted to EUR
861.7 million while total revenues amounted to EUR 945.3 million (in
IFRS). 700 people in R&D are dedicated to the discovery and
development of innovative drugs for patient care. Ipsen's shares are
traded on Segment A of Eurolist by Euronext(TM) (stock code: IPN, ISIN
code: FR0010259150). Ipsen's shares are eligible to the "Systeme a
Reglement Differe" ("SRD") and the Group is part of the SBF 250 index.
For more information on Ipsen, visit our website at www.ipsen.com.

Forward-looking statements

The forward-looking statements and targets contained herein are
based on Ipsen's management's 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. 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
information documents filed with the French Autorite des marches
financiers.

About PregLem

PregLem SA is a Swiss specialty biopharmaceutical company focused
on the development and commercialization of innovating therapeutic
compounds for improving the treatment of significant benign
gynecological conditions and infertility.

PregLem was founded in Geneva in 2006, by Dr. Ernest Loumaye MD,
PhD, a specialist in female Reproductive Medicine, with 15 years'
experience in the biopharmaceutical industry, and by Mr. Eric Rolin, a
finance executive with 25 years' experience in the pharmaceutical
industry. Ernest Loumaye serves as CEO, Eric Rolin serves as CFO.

PregLem founding assets are products, at pre-clinical and clinical
stages of development, including those from Ipsen, an innovation
driven international specialty pharmaceutical group. PregLem is also
seeking further partnerships and in-licensing opportunities at various
stages of development. For more information: www.preglem.com