Hansa Biopharma secures $70 million non-dilutive product financing

Swedish rare disease specialist Hansa Biopharma (STO: HNSA) has entered into an agreement with USA-based NovaQuest Capital Management, securing $70 million in non-dilutive financing, with the news propelling Hansa’s shares 30% higher to 72.70 kronor.

“This transaction, which extends our cash runway through 2024, helps bolster our ability to invest in the continued development of our unique antibody-cleaving enzyme technology platform across multiple therapeutic areas,” said Donato Spota, chief financial officer of Hansa Biopharma.

Mr Spota continued “We now have the resources we need to fully fund our US ConfIdeS trial, which is evaluating imlifidase as a potential desensitization therapy to enable kidney transplants in highly sensitized patients waiting for a deceased donor kidney through the US kidney allocation system and is expected to support submission of a BLA to the FDA under the accelerated approval pathway in the first half of 2024, as well as our global Phase III development program in anti-GBM antibody disease, which is expected to commence this year. The funds, together with our existing cash, may also be used to complete our existing Phase II programs in antibody mediated kidney transplant rejection (AMR) and Guillain-Barré Syndrome (GBS) and to advance our next generation of enzymes (NiceR) into clinical development.”