Idorsia and Mochida enter into a license agreement for the supply, co-development and co-marketing of daridorexant in Japan
Allschwil, Switzerland – December 5, 2019
Idorsia Ltd (SIX: IDIA) and Mochida Pharmaceutical Co., Ltd. today announced that they have entered into an exclusive license agreement 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 (approximately 9 million Swiss francs) 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.
With regards to the future development program, Idorsia will be responsible for the design and conduct of additional preclinical and clinical studies, and for health authority registration, with oversight from a Joint Development Committee. Should Idorsia wish to out-license daridorexant for use in any field other than insomnia and related disorders to a third party in Japan, Mochida will be offered the right of first refusal.
Jean-Paul Clozel, MD and Chief Executive Officer of Idorsia, commented:
“Establishing Idorsia Pharmaceuticals Japan in 2018 under the leadership of Dr Satoshi Tanaka has allowed us to forge a partnership with Mochida. I’m confident that daridorexant is in very good hands. We now are eagerly waiting for the data from the Phase 3 program to come mid-2020 and are looking forward to be able to provide a new treatment option to the many patients suffering from Insomnia.”
Simon Jose, Chief Commercial Officer of Idorsia commented:
“Mochida is a very attractive partner for our DORA in Japan. They have an established commercial presence and strong relationships with CNS and internal medicine practitioners, key prescribers who take care of a large segment of insomnia patients. Mochida also has a great track record of co-promotions with international companies, most recently and notably for a very successful CNS therapy. Based on their due diligence and knowledge of the market, Mochida’s commitment to the partnership before the Phase 3 results demonstrates that Mochida shares our belief that daridorexant has great potential in a country where DORAs are expected to play a significant role in the market.”