Idorsia and Viatris enter into a significant global research and development collaboration

Ad hoc announcement pursuant to Art. 53 LR

• Viatris and Idorsia will collaborate on the global development and commercialization of two Phase 3 assets, selatogrel and cenerimod.
• Idorsia to receive an upfront payment of USD 350 million, potential development and regulatory milestone payments, additional sales milestone payments and tiered royalties on annual net sales.
• Viatris and Idorsia will both contribute to the development costs for both programs.
• Includes future optionality to expand collaboration with additional pipeline assets.
• Combines Viatris’ financial strength and worldwide operational infrastructure with Idorsia’s proven, highly productive drug development team and innovative engine.
  
  

Allschwil, Switzerland – February 28, 2024
Idorsia Ltd (SIX: IDIA) today announced that it has entered into agreements for a significant global research and development collaboration with Viatris Inc. (NASDAQ: VTRS), a global healthcare company, for the global development and commercialization of two Phase 3 assets – selatogrel and cenerimod – for an upfront payment of USD 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 3 programs for selatogrel and cenerimod through regulatory approval. Idorsia will contribute up to USD 200 million in the next 3 years and will transfer to Viatris at closing the dedicated personnel to both programs.

Viatris will have worldwide commercialization rights for both selatogrel and cenerimod (excluding, for cenerimod only, Japan, South Korea and certain countries in the Asia-Pacific region).

Idorsia has also granted Viatris a Right of First Refusal and First Negotiation for certain other pipeline assets.

The company expects to close the transaction by the end of March, subject to customary closing conditions, but no additional regulatory or shareholder approvals are required.

Jean-Paul Clozel, MD and Chief Executive Officer of Idorsia, commented:
“I’m delighted that with Viatris we have found a strong partner to secure and accelerate the development programs for both selatogrel and cenerimod by leveraging the strength of Viatris’ global infrastructure. From the first meeting, it was clear that the team at Viatris shares the same excitement and engagement for our innovations. This global collaboration allows us to share the costs of the ongoing Phase 3 programs whilst retaining long-term shareholder value, by sharing the rewards for success through the milestones and royalties.”