Vifor Pharma and Travere Therapeutics announce licensing agreement for the commercialization of sparsentan in Europe, Australia and New Zealand

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AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

Vifor Pharma Group and Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced the companies have entered into a joint collaboration and licensing agreement for the commercialization of sparsentan in Europe, Australia and New Zealand. Sparsentan is a novel investigational product candidate currently being evaluated in pivotal phase-III clinical studies for the treatment of FSGS and IgAN, two rare progressive kidney disorders and leading causes of end-stage kidney disease. There are currently no approved medicines indicated for FSGS or IgAN. Sparsentan has been granted Orphan Drug Designation for the treatment of IgAN and FSGS in the U.S. and Europe.

Under the terms of the agreement, Vifor Pharma will receive exclusive commercialization rights for sparsentan in Europe, Australia and New Zealand. Travere will receive an upfront payment of USD 55 million and be eligible for up to USD 135 million in payments tied to the achievement of certain regulatory and market access related milestones. Vifor Pharma will also make further payments in the form of sales milestones, and tiered double-digit royalties on net sales of sparsentan in Europe, Australia and New Zealand up to 40 percent at the high end of the royalty range.

“This agreement highlights that Vifor Pharma has become a company of choice for organizations committed to partnering innovative nephrology assets”, Abbas Hussain, CEO of Vifor Pharma Group commented. “With sparsentan, we will further expand our growing nephrology pipeline into FSGS and IgAN. There are currently no effective or approved therapies for these two rare kidney disorders, resulting in a significant unmet medical need among these patient populations. We look forward to working closely with Travere, who is responsible for the ongoing clinical development program of sparsentan, and to leveraging our commercial expertise to bring this highly promising, innovative treatment option to potentially more than 150,000 patients living with IgAN or FSGS in the licensed territories as soon as possible.”