Idorsia grants Mochida rights to daridorexant in Japan

Shares of Idorsia (SIX: IDIA) were up 4.2% at 29,12 Swiss francs, after the Swiss biotech revealed it has granted Japan’s Mochida Pharmaceutical (TYO: 4534) an exclusive license for the supply, co-development and co-marketing of daridorexant, Idorsia’s dual orexin receptor antagonist (DORA), for insomnia and related disorders in Japan.

Idorsia will receive an initial payment of 1 billion Japanese yen (~$9 million) and will be entitled to three additional development and regulatory milestones. Idorsia will also be entitled to sales milestones and tiered royalty payments based on net sales achieved by Mochida. Costs associated with the co-development of daridorexant will be shared.

Right of first refusal in other indications