PITTSBURGH - Viatris Inc. (NASDAQ: NASDAQ:VTRS) and Idorsia Ltd (SIX: IDIA) have announced a significant global research and development collaboration, with Viatris acquiring exclusive global rights to two Phase 3 assets, selatogrel and cenerimod. The deal also allows for future expansion of the partnership with additional innovative assets. The collaboration aims to leverage Viatris' operational infrastructure and Idorsia's drug development expertise.
Selatogrel, a self-administered medication for patients with a history of acute myocardial infarction (AMI), complements Viatris' cardiovascular portfolio. Cenerimod, an oral treatment for systemic lupus erythematosus (SLE), could be a first-in-class therapy and a key asset within Viatris' immunology platform.
Viatris CEO Scott A. Smith expressed confidence in the collaboration's potential to execute on the promise of the assets, citing their potential to become significant components of Viatris' business. He highlighted the alignment with the company's strategy to build a more durable and predictable portfolio.
The transaction includes an upfront payment to Idorsia of $350 million, with additional potential payments based on development, regulatory, and sales milestones, as well as tiered royalties. Both companies will contribute to the development costs of selatogrel and cenerimod, and a joint development committee will oversee the Phase 3 programs. Viatris will have worldwide commercialization rights for both drugs, with certain regional exclusions for cenerimod.
The collaboration also provides Viatris with rights of first refusal and negotiation for other assets in Idorsia's pipeline. The transaction is expected to close by the end of March, without the need for additional regulatory or shareholder approvals.
Viatris has scheduled an R&D event for March 27, 2024, to discuss this collaboration and other pipeline developments. The event will feature presentations from Viatris executives and expert thought leaders in cardiovascular medicine and rheumatology.
This partnership is based on a press release statement and aims to combine Viatris' financial strength with Idorsia's innovation to develop treatments for life-altering diseases. The companies have not disclosed the full financial details of the agreement.
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