Key Takeaways:
SERB Pharmaceuticals will acquire the European and MENA rights for the transplant drug Idefirix from Hansa Biopharma in a deal valued at €115 million, expanding access for highly sensitised kidney patients.
"SERB is committed to expanding access to transplantation for highly sensitised patients who currently have very limited alternatives,” said Jeremie Urbain, Chairman of SERB Pharmaceuticals.
The agreement includes a €110 million upfront payment to Hansa Biopharma, with an additional €5 million contingent on the European Medicines Agency's acceptance of the filing for Idefirix's full approval. The transaction is expected to close within 60 days, pending foreign direct investment regulatory approval.
The acquisition gives SERB control of a conditionally approved treatment for the 10-15 percent of kidney transplant patients considered highly sensitised. SERB will take over long-term and pediatric studies for Idefirix, which has a US PDUFA date of December 19, 2026.
Idefirix, with the generic name imlifidase, is an enzyme that cleaves IgG antibodies, which can cause organ rejection. It is used for desensitisation in highly sensitised adult patients awaiting a kidney transplant from a deceased donor. These patients, who make up an estimated 10-15 percent of the 70,000 people on the European kidney transplant waiting list, have pre-formed antibodies that make finding a compatible donor exceptionally difficult.
Under the terms of the deal, Hansa will support SERB through the EMA review process for full approval. Following the transaction's close, SERB will assume responsibility for the Post-Authorization Efficacy Study (PAES) long-term follow-up and an ongoing paediatric study.
Rothschild & Co. served as the exclusive financial advisor to SERB, with Freshfields as legal counsel. Centerview Partners UK LLP and Morgan Lewis acted as exclusive financial advisor and legal counsel to Hansa, respectively.
This deal provides Hansa with significant non-dilutive funding while allowing SERB to use its European commercial platform. Investors will watch for the completion of the FDI regulatory approval within the next 60 days.
This article is for informational purposes only and does not constitute investment advice.
