The listed biotech company Idorsia and Viatris have agreed on a global collaboration for the further development of the two Phase 3 drugs Selatogrel and Cenerimod. According to a statement, Idorsia will receive an upfront payment of 350 million dollars as well as milestone payments and royalties on annual net sales.
A joint committee will oversee the development of the ongoing Phase 3 programs. Idorsia is expected to contribute up to 200 million dollars over the next three years. Viatris, based in the US state of Pennsylvania, will receive the global marketing rights for selatogrel and cenerimod. Cenerimod excludes some Asian countries.
Selatogrel is an emergency medication for acute myocardial infarction. It can be self-administered via an autoinjector by people with a respective medical history. The U.S. Food and Drug Administration (FDA) is prioritizing this program because of its importance. Cenerimod represents a novel approach to the treatment of systemic lupus erythematosus and is the result of 20 years of research by Idorsia. Viatris CEO Scott A. Smith describes the two medications as “potential blockbuster assets”.
According to Idorsia Chief Financial Officer André C. Muller, “the upfront payment of USD 350 million gives us much needed liquidity. We’ve repeatedly explained that we have many balls in the air, we’ve now caught the first one and continue to work on others.”
In this regard, Idorsia is negotiating with Viatris for other pipeline products. Decisions by the FDA and the European Medicines Agency regarding the hypertension drug Aprocitentan and the novel sleep aid QUIVIQ (daridorexant) are also expected shortly.
