Idorsia secures additional cash by entering into a building sale and leaseback
agreement
Ad hoc announcement pursuant to Art. 53 LR Idorsia receives CHF 164 million as
part of the agreement
Allschwil, Switzerland – September 27 , 202 2
Idorsia Ltd (SIX: IDIA) today announced that it has entered into a sale and
leaseback agreement with a private Swiss company for Idorsia’s research and
development building at its headquarters in Allschwil. The building was sold
for CHF 164 million and will be leased back by Idorsia from October 1, 2022.
The additional CHF 164 million liquidity will be used to support Idorsia’s
commercial product launches and to fund the further development of the
company’s advancing research and development 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 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 a leading biopharmaceutical company, with a strong
scientific core.
Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is
specialized in the discovery, development and commercialization of small
molecules to transform the horizon of therapeutic options. Idorsia has a broad
portfolio of innovative drugs in the pipeline, an experienced team of
professionals covering all disciplines from bench to bedside, state-of-the-art
facilities, and a strong balance sheet – the ideal constellation to translate
R&D efforts into business success.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June
2017 and has over 1,200 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
investor.relations@idorsia.com – media.relations@idorsia.com – www.idorsia.com
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.
Anhang Medienmitteilung PDF
