Idorsia enters collaboration on two assets with Viatris

28 February 2024

Swiss biotech Idorsia (SIX: IDIA) closed down more than 9% at 2.59 francs today, on news of a deal for two of its assets.

Idorsia has entered into agreements for a significant global research and development collaboration with Viatris (Nasdaq: VTRS), for the global development and commercialization of two Phase III assets – selatogrel and cenerimod – for an upfront payment of $350 million, potential development and regulatory milestone payments, and certain contingent payments of additional sales milestone payments and tiered royalties from mid-single- to low double-digit percentage on annual net sales.

A joint development committee will oversee the development of the ongoing Phase III programs for selatogrel (for myocardial infarction) and cenerimod (for Lupus erythematosus) through regulatory approval. Idorsia will contribute up to $200 million in the next three years and will transfer to Viatris at closing the dedicated personnel to both programs.

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