Date: 2017-06-09
Type of information: IPO
Company: Idorsia (Switzerland)
Investors: Johnson&Johnson (J&J) (USA - NJ)
Amount:
Funding type: IPO
Planned used:
- Idorsia will be an independent biopharmaceutical company specialized in the discovery and development of small molecules to meet significant unmet medical needs. Headquartered in Allschwil, Switzerland, the company was incorporated on 2 March 2017 and will employ over 600 employeess, with a proven track record of successfully bringing drug candidates to market. The company will have a diverse clinical development pipeline comprising several compounds being investigated in multiple therapeutic areas, including central nervous system disorders, cardiovascular disorders, immunological disorders and orphan diseases. Idorsia will inherit Actelion's established and validated drug discovery engine and a strong cross-section of its development organization. Idorsia's pipeline will continue to be developed by selected members of Actelion's development organization who joined Idorsia.
Idorsia's drug discovery will focus on novel molecular target families, implementing appropriate state-of-the-art technologies. In particular, the target families will include G-protein coupled receptors (GPCRs), ion channels and certain enzymes.
| Status |
|
Compound |
|
Mechanism of Action |
|
Target Indication |
| Phase 2 |
|
Aprocitentan
(ACT-132577) |
|
Endothelin receptor antagonist |
|
Resistant hypertension |
| |
ACT-541468 |
|
Dual orexin receptor antagonist |
|
Chronic insomnia |
| |
Clazosentan |
|
Endothelin receptor antagonist |
|
Vasospasm associated with aneurysmal subarachnoid hemorrhage |
| |
Cenerimod |
|
S1P1 receptor modulator |
|
Systemic lupus erythematosus |
| Phase 1b |
|
Lucerastat |
|
Glucosylceramide synthase inhibitor |
|
Fabry disease |
| Phase 1 |
|
ACT-246475 |
|
P2Y12 receptor antagonist |
|
Acute coronary syndrome |
| |
ACT-774312 |
|
CRTH2 receptor antagonist |
|
Asthma and allergy disorders |
Others:
- • On June 9, 2017, Actelion published the listing prospectus relating to the listing of Idorsia shares on SIX Swiss Exchange. As previously announced, as part of the acquisition of Actelion by Janssen Holding, the Swiss company will spin out its drug discovery operations and early-stage clinical development assets into a newly created biopharmaceutical company, Idorsia. With the tender offer for all publicly held shares of Actelion by Janssen Holding, on track for completion, it is expected that the settlement of the tender offer by J&J will take place on 16 June 2017. All Actelion shareholders (whether they tendered their shares or not) will receive one Idorsia share per each Actelion share held on 13 June 2017.
- Idorsia is financed with CHF 1 billion in cash. Additionally, Cilag, a subsidiary of J&J, will provide Idorsia with a CHF Credit Facility equivalent to $ 250 million.
- 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 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).
Therapeutic area: Cardiovascular diseases - CNS diseases - Immune diseases - Rare diseases
Is general: Yes
