BRIEF—Idorsia in talks to sell Asia-Pacific business

Swiss biotech Idorsia revealed 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 400 million francs ($411 million).

This prospective strategic transaction is subject to completion of satisfactory due diligence and legal documentation. Further announcements will be made as appropriate.

“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, commented Idorsia’s chief financial officer Andre Muller.

“I would expect the potential transaction to be completed during July, subject to completion of satisfactory due diligence and legal documentation,” he added.