GNW-Adhoc: Idorsia sells its Asia Pacific (ex-China) operations - including select license rights to products - to Sosei Heptares for a total consideration of CHF 400 million

^Ad hoc announcement pursuant to Art. 53 LR
Allschwil, Switzerland - July 20, 2023
Idorsia Ltd (SIX: IDIA) today announced the sale of its operating businesses in
the Asia Pacific (ex-China) region ("Territory"), including assignment of PIVLAZ
(clazosentan) and license rights to daridorexant in those territories, to Sosei
Group Corporation (TSE: 4565; 'Sosei Heptares') for a total consideration of CHF
400 million.
Jean-Paul Clozel, Chief Executive Officer of Idorsia, commented:
"Dr Satoshi Tanaka and his team in Idorsia Japan have consistently demonstrated
their ability to deliver high-quality clinical development studies, most
recently reporting positive Phase 3 results with daridorexant. They also
developed, registered, and successfully brought PIVLAZ to a specialty market,
serving over 5'000 patients with a rare form of stroke in the first year alone.
The excellence displayed by the organization has been recognized by Sosei, hence
a deal that creates value for both companies. I'm particularly happy that we are
maintaining our relationships to the team and our ability to reach patients in
the territory with our pipeline products."
Chris Cargill, President, and Chief Executive Officer of Sosei Heptares,
commented:
"We have patiently and diligently been searching for the right opportunity to
accelerate our mission to deliver life-changing new medicines to patients. This
transaction with Idorsia is truly transformational and achieves one of our key
strategic objectives, establishing Sosei Heptares as a fully integrated Japan-
focused pharmaceutical business, with growing commercial sales and an expected
new product launch next year. The addition of a highly experienced clinical
development and entrepreneurial commercial team in Japan led by Dr Satoshi
Tanaka, one of the country's most successful drug developers in recent times,
fast-tracks our vision to become one of Japan's global biopharmaceutical
champions."
About the transaction
The transaction includes the acquisition by Sosei Heptares of Idorsia's
affiliates in Japan and South Korea, the assignment of the license for PIVLAZ
(clazosentan) and all intellectual property and know-how for the territory, and
a co-exclusive license for daridorexant - further to the agreement in place with
Mochida Pharmaceutical. The transaction also includes an option for Sosei
Heptares - upon payment of separate option fees - to license cenerimod and
lucerastat for the development and commercialization in the Territory.
Idorsia will supply bulk tablet of PIVLAZ and daridorexant to Sosei Heptares. In
addition, there will be transition service agreements (TSA) between Idorsia and
Sosei Heptares mainly for regulatory/filing activities, clinical development,
CMC (Chemistry, Manufacturing and Controls), and IT.
Idorsia has granted Sosei Heptares a right of first negotiation and right of
first refusal on certain pipeline assets for the Territory showing a clear
commitment from Idorsia to continue to work with Sosei Heptares as a preferred
partner.
Territory: Australia, Brunei, Cambodia, Indonesia, Japan, Laos, Malaysia,
Myanmar, New Zealand, Philippines, Singapore, South Korea, Thailand, Taiwan, and
Vietnam.
Notes to the editor
About Sosei Heptares
Sosei Heptares is a fully integrated biopharmaceutical company focused on
bringing life-changing medicines based on world-class science to patients
globally. Our vision is to become one of Japan's global biopharmaceutical
champions.
Sosei Heptares has a leading development capability and a profitable and growing
commercial operation in Japan, which it intends to expand into additional
selected markets in the Asia-Pacific region.
Sosei Heptares is advancing a broad and deep pipeline of novel medicines created
using its world-leading GPCR-targeted StaR® technology and structure-based drug
design platform across multiple therapeutic areas, including neurology,
immunology, gastroenterology, and inflammatory diseases.
In addition, we have leveraged our unique discovery and development capabilities
to establish multiple value-generating partnerships with world-leading
biopharmaceutical companies, including AbbVie, Genentech (Roche), GSK, Lilly,
Neurocrine Biosciences, Novartis, Pfizer, Sanofi and Takeda.
Sosei Heptares is headquartered in Tokyo, Japan with corporate and R&D
facilities in London and Cambridge, UK.
"Sosei Heptares" is the corporate brand and trademark of Sosei Group
Corporation, which is listed on the Tokyo Stock Exchange (ticker: 4565). Sosei,
Heptares, the logo and StaR® are trademarks of Sosei Group companies. For more
information, please visit https://soseiheptares.com/
About Idorsia
Idorsia Ltd is reaching out for more - We have more ideas, we see more
opportunities and we want to help more patients. In order to achieve this, we
will develop Idorsia into a leading biopharmaceutical company, with a strong
scientific core.
Headquartered near Basel, Switzerland - a European biotech-hub - Idorsia is
specialized in the discovery, development and commercialization of small
molecules to transform the horizon of therapeutic options. Idorsia has a 20-year
heritage of drug discovery, a broad portfolio of innovative drugs in the
pipeline, an experienced team of professionals covering all disciplines from
bench to bedside, and commercial operations in Europe, Japan, and the US - the
ideal constellation for bringing innovative medicines to patients.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017
and has over 1,300 highly qualified specialists dedicated to realizing our
ambitious targets.
For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com (mailto:investor.relations@idorsia.com) ?
media.relations@idorsia.com (mailto:media.relations@idorsia.com) ?
www.idorsia.com (http://www.idorsia.com)
The above information contains certain "forward-looking statements", relating to
the company's business, which can be identified by the use of forward-looking
terminology such as "estimates", "believes", "expects", "may", "are expected
to", "will", "will continue", "should", "would be", "seeks", "pending" or
"anticipates" or similar expressions, or by discussions of strategy, plans or
intentions. Such statements include descriptions of the company's investment and
research and development programs and anticipated expenditures in connection
therewith, descriptions of new products expected to be introduced by the company
and anticipated customer demand for such products and products in the company's
existing portfolio. Such statements reflect the current views of the company
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause the actual results, performance or
achievements of the company to be materially different from any future results,
performances or achievements that may be expressed or implied by such forward-
looking statements. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated, believed,
estimated or expected.
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Quelle: dpa-AFX