GNW-Adhoc: 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 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
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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