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 transactionThe
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 IdorsiaIdorsia 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
contactAndrew C. WeissSenior Vice President, Head
of Investor Relations & Corporate CommunicationsIdorsia
Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil+41 58
844 10 10investor.relations@idorsia.com •
media.relations@idorsia.com • www.idorsia.com
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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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