Hansa Biopharma said on Tuesday it had signed a licensing agreement with privately held SERB Pharmaceuticals for its kidney transplant drug Idefirix across Europe and select international markets. The deal, valued at up to 115 million euros ($134 million), strengthens the Swedish biotech company’s financial position as it prepares for a potential U.S. launch of the drug later this year.
The agreement is expected to extend Hansa’s cash runway through profitability while enabling the company to continue investing in the development of its broader drug pipeline.
- Hansa Biopharma said the agreement would support a strong U.S. launch of Idefirix, pending a decision from the U.S. Food and Drug Administration expected in December.
- Under the deal, privately held SERB Pharmaceuticals will receive exclusive rights to develop and commercialize Idefirix across the European Union, Britain, Switzerland, Norway, Liechtenstein, Iceland, and the Middle East and North Africa region.
- Idefirix, also known as imlifidase, is designed to rapidly break down immunoglobulin G antibodies that may trigger a patient’s immune system to reject a donor kidney. The treatment has conditional approval in the EU, Norway, Liechtenstein, Iceland, and the UK, while also being fully approved in Australia and Switzerland.
- As part of the agreement, SERB will assume responsibility for the drug’s development and commercialization. Hansa will receive 110 million euros upfront, along with an additional 5 million euros once the European Medicines Agency accepts the company’s application for full approval review.
- According to analysts at Jefferies, sales of Idefirix could reach around 1.08 billion Swedish crowns ($114.9 million) by 2027 if the drug secures approval in the United States.
- Hansa shares climbed as much as 30% in early trading on Tuesday in Stockholm.
