Idorsia has entered into exclusive negotiations with regard to a prospective strategic transaction for its Asia Pacific (ex-China) operations for up to CHF 400 million
06 Giugno 2023 - 7:00AM
Idorsia has entered into exclusive negotiations with regard to a
prospective strategic transaction for its Asia Pacific (ex-China)
operations for up to CHF 400 million
Ad hoc announcement pursuant to Art. 53
LR
Allschwil, Switzerland – June
06, 2023
Idorsia Ltd (SIX: IDIA) today announced that it
has entered into exclusive negotiations with an undisclosed party
regarding its operating businesses in the Asia Pacific (ex-China)
region, including selected license rights to products from
Idorsia’s portfolio in those territories, for a total consideration
of up to CHF 400 million.
This prospective strategic transaction is subject to completion
of satisfactory due diligence and legal documentation. Further
announcements will be made as appropriate.
André C. Muller, Chief Financial Officer of
Idorsia,
added:“This
prospective strategic transaction would allow Idorsia to realize
the significant value we have created in the region, and would
extend our cash runway, while maintaining relationships for the
future development and commercialization of our pipeline programs
in the region. I would expect the potential transaction to be
completed during July, subject to completion of satisfactory due
diligence and legal documentation.”
Notes to the editor
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
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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