Ad hoc announcement pursuant to Art. 53 LR
- Idorsia receives CHF 164 million as a part of the settlement
Allschwil, Switzerland – September 27, 2022
Idorsia Ltd (SIX: IDIA) at this time introduced that it has entered into a sale and leaseback settlement with a personal Swiss firm for Idorsia’s analysis and improvement building at its headquarters in Allschwil. The building was offered for CHF 164 million and might be leased again by Idorsia from October 1, 2022.
The additional CHF 164 million liquidity might be used to assist Idorsia’s industrial product launches and to fund the additional improvement of the corporate’s advancing analysis and improvement pipeline.
André C. Muller, Chief Financial Officer, commented:
“In the second quarter of this year, Idorsia became a commercial stage company and recorded its first product sales, bringing us an important step closer to our 2025 profitability target. The sale of our building is another step in Idorsia’s financing strategy to close the funding gap. At the same time, we remain fully operational with a long-term leaseback agreement for the laboratory and office space. The lease agreement also foresees opportunities for campus expansion to accommodate long-term success. Going forward, we will continue to explore non-equity dilutive instruments to raise additional cash.”
Notes to the editor
About Idorsia
Idorsia Ltd is reaching out for extra – We have extra concepts, we see extra alternatives and we wish to assist extra sufferers. In order to attain this, we’ll develop Idorsia into a main biopharmaceutical firm, with a robust scientific core.
Headquartered close to Basel, Switzerland – a European biotech-hub – Idorsia is specialised within the discovery, improvement and commercialization of small molecules to rework the horizon of therapeutic choices. Idorsia has a broad portfolio of progressive medicine within the pipeline, an skilled workforce of pros masking all disciplines from bench to bedside, state-of-the-art services, and a robust stability sheet – the best constellation to translate R&D efforts into business success.
Idorsia was listed on the SIX Swiss Exchange (ticker image: IDIA) in June 2017 and has over 1,200 extremely certified specialists devoted to realizing our formidable targets.
For additional info, 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
[email protected] – [email protected] – www.idorsia.com
The above info comprises sure “forward-looking statements”, regarding the corporate’s business, which could be recognized by using forward-looking terminology similar to “estimates”, “believes”, “expects”, “may”, “are expected to”, “will”, “will continue”, “should”, “would be”, “seeks”, “pending” or “anticipates” or comparable expressions, or by discussions of technique, plans or intentions. Such statements embody descriptions of the corporate’s funding and analysis and improvement packages and anticipated expenditures in connection therewith, descriptions of latest merchandise anticipated to be launched by the corporate and anticipated buyer demand for such merchandise and merchandise within the firm’s present portfolio. Such statements mirror the present views of the corporate with respect to future occasions and are topic to sure dangers, uncertainties and assumptions. Many components might trigger the precise outcomes, efficiency or achievements of the corporate to be materially totally different from any future outcomes, performances or achievements which may be expressed or implied by such forward-looking statements. Should a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes could fluctuate materially from these described herein as anticipated, believed, estimated or anticipated.
