Idorsia - Reaching out for more
(Thomson Reuters ONE) -
Idorsia Pharmaceuticals Ltd. /
Idorsia - Reaching out for more
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The issuer is solely responsible for the content of this announcement.
* Idorsia commences trading on SIX Swiss Exchange (ticker: IDIA)
Allschwil, Switzerland - 16 June 2017 - Idorsia Ltd (SIX: IDIA) today announced
its debut as an independent company newly listed on SIX Swiss Exchange. The
shares of Idorsia will be listed and trading will commence on SIX Swiss Exchange
today, 16 June 2017.
Following the transfer of Actelion's drug discovery and early stage clinical
pipeline business to Idorsia, registered Idorsia shares held by Actelion have
been distributed to Actelion shareholders by way of a dividend in kind. The
distribution of Idorsia shares to Actelion shareholders completes the demerger
from Actelion in connection with the all-cash tender offer for all publicly held
shares of Actelion Ltd by Janssen Holding GmbH, a Swiss subsidiary of Johnson &
Johnson (J&J) for 280 US Dollars in cash per share, that will also settle today
16 June 2017.
The purpose of Idorsia is to discover more, innovative medicines to help more
patients. In order to achieve this, management intends to develop Idorsia into
one of Europe's leading biopharmaceutical companies, with a strong scientific
core.
Jean-Paul Clozel, CEO of Idorsia, commented: "Today we launch Idorsia, and we
have a fantastic opportunity ahead. We are starting out with an experienced team
of highly qualified professionals, a full research and development pipeline,
state-of-the-art facilities, and 1 billion Swiss francs in cash - the ideal
constellation for bringing research and development to successful medicines. We
are off to a great start with the recent results with aprocitentan and cenerimod
and are eagerly awaiting key results for our dual orexin receptor antagonist in
the coming months. Beyond that we will be taking decisions on our Phase 1
pipeline assets before the end of the year, so we have a lot to look forward
to."
Jean-Paul concluded: "There are many challenges ahead but I believe that by
putting science at the center of intelligent decision-making and the "can do"
mindset of our creative team, we can realize our full potential and reach out
for more."
On 16 June 2017, 107,330,210 Idorsia shares are being listed on SIX.
Furthermore, shares issued through the conversion of the first tranche of the
convertible loan provided by Cilag Holding AG, an indirect subsidiary of Johnson
& Johnson (CHF 135.4 million converting into 11,793,220 Idorsia shares
("Authorized Shares")) will be listed on 20 June 2017 granting Cilag Holding AG
an ownership interest of 9.9% in Idorsia's share capital.
Idorsia launches with a clinical pipeline of drug candidates in different areas
of medicine where patients' needs are not fully met with existing therapies.
Status Compound Mechanism of Action Target Indication
---------- --------------------- ------------------------- --------------------
Aprocitentan (ACT- Endothelin receptor Resistant
132577) antagonist hypertension
--------------------- ------------------------- --------------------
ACT-541468 Dual orexin receptor Chronic insomnia
antagonist
--------------------- ------------------------- --------------------
Phase 2 Vasospasm
Endothelin receptor associated with
Clazosentan antagonist aneurysmal
subarachnoid
hemorrhage
--------------------- ------------------------- --------------------
Cenerimod S1P(1) receptor Systemic lupus
modulator erythematosus
---------- --------------------- ------------------------- --------------------
Phase 1b Lucerastat Glucosylceramide Fabry disease
synthase inhibitor
---------- --------------------- ------------------------- --------------------
ACT-246475 P2Y12 receptor Acute coronary
antagonist syndrome
--------------------- ------------------------- --------------------
ACT-774312 CRTH2 receptor Asthma and allergy
antagonist disorders
Phase 1 --------------------- ------------------------- --------------------
ACT-539313 Selective orexin 1 Anxiety
receptor antagonist
--------------------- ------------------------- --------------------
ACT-709478 T-type calcium channel Epilepsy
blocker
---------- --------------------- ------------------------- --------------------
***
Notes to the editor
Idorsia's Board of Directors
Idorsia's Board of Directors comprises Jean-Pierre Garnier (Chairman), Robert
Bertolini (member, Chair Finance & Audit committee), Jean-Paul Clozel (member),
John J. Greisch (member, Chair Nominating, Governance & Compensation committee),
David Stout (member) and Herna Verhagen (member).
Idorsia's Executive Committee
Idorsia's Executive Committee consists of Jean-Paul Clozel (Chief Executive
Officer), Guy Braunstein (Head of Global Clinical Development), Martine Clozel
(Chief Scientific Officer) and André C. Muller (Chief Financial Officer).
About Idorsia
Idorsia Ltd is reaching out for more - We have more ideas, we see more
opportunities and we want to help more patients.
In order to achieve this we will develop Idorsia into Europe's leading
biopharmaceutical company, with a strong scientific core.
Headquartered in Switzerland - a European biotech hub - Idorsia is specialized
in the discovery and development of small molecules, to transform the horizon of
therapeutic options. Idorsia has a broad portfolio of innovative drugs in the
pipeline, an experienced team, a fully-functional research center, and a strong
balance sheet - the ideal constellation to bringing R&D efforts to business
success.
Idorsia was listed on SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and
has over 600 highly qualified specialists dedicated to realizing our ambitious
targets.
For further information please contact:
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
www.idorsia.com
This document does not constitute an invitation or an offer to purchase, sell,
trade or subscribe for any shares or other securities of the companies involved.
Furthermore, this document is neither a prospectus according to Art. 652a of the
Swiss Code of Obligations nor a listing prospectus according to the listing
rules of SIX Swiss Exchange Ltd.
The above information contains certain "forward-looking statements", relating to
the company's business, which can be identified by the use of forward-looking
terminology such as "estimates", "believes", "expects", "may", "are expected
to", "will", "will continue", "should", "would be", "seeks", "pending" or
"anticipates" or similar expressions, or by discussions of strategy, plans or
intentions. Such statements include descriptions of the company's investment and
research and development programs and anticipated expenditures in connection
therewith, descriptions of new products expected to be introduced by the company
and anticipated customer demand for such products and products in the company's
existing portfolio. Such statements reflect the current views of the company
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause the actual results, performance or
achievements of the company to be materially different from any future results,
performances or achievements that may be expressed or implied by such forward-
looking statements. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated, believed,
estimated or expected.
Press Release PDF:
http://hugin.info/174259/R/2113709/804106.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Idorsia Pharmaceuticals Ltd. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.06.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 548278
Anzahl Zeichen: 10170
contact information:
Town:
Allschwil
Kategorie:
Business News
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