Viatris and Idorsia seal research and development deal for two phase III assets  

Viatris and Idorsia seal research and development deal for two phase III assets  

SWITZERLAND — Swiss pharmaceutical company Idorsia has recently secured a vital financial lifeline through a US$350 million upfront payment from U.S.-based Viatris, acquiring the development and commercialization rights to two promising late-stage candidates

These candidates include selatogrel, a P2Y12 inhibitor designed to address acute myocardial infarction, and cenerimod, aimed at treating lupus.

Under the agreement, a joint development committee will oversee the progress of both programs through the regulatory process.

With Idorsia facing imminent financial challenges, CFO Andre Muller emphasized the significance of the US$350 million upfront payment, providing the company with much-needed liquidity to sustain its operations.

Muller stated, “We’ve repeatedly explained that we have many balls in the air, we’ve now caught the first one and continue to work on others to secure Idorsia’s future.”

He further highlighted ongoing efforts to explore various funding options, including business development opportunities, equity, and equity-linked deals, to extend Idorsia’s cash runway.

The deal is anticipated to be finalized by the end of March. As part of the agreement, Idorsia will invest US$200 million over the next three years and transition personnel for both programs to Viatris upon closing.

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In addition to the upfront payment, Idorsia stands to receive potential development and regulatory milestone payments, sales milestones, and tiered royalties on annual net sales.

Viatris will gain exclusive worldwide commercialization rights for selatogrel and cenerimod, with the exception of cenerimod’s rights in select regions.

Furthermore, Idorsia has granted Viatris a right of first refusal and first negotiation for other assets in its pipeline, which encompass treatments for various diseases such as type 1 diabetes, multiple sclerosis, immune-mediated disorders, and Fabry disease.

Scott Smith, CEO of Viatris, expressed confidence in the collaboration, stating, “We are connecting Idorsia’s proven, highly productive drug development team and innovation engine with Viatris’ strong global infrastructure and experience to focus on two late-stage potential blockbuster assets with long-dated patent protection.”

He envisions selatogrel and cenerimod becoming significant components of Viatris’ business in the long term.

Viatris recently obtained FDA approval for Ryzumvi, a phentolamine ophthalmic solution developed with Ocuphire to reverse pharmacologically induced mydriasis, demonstrating its commitment to advancing innovative treatments.

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