Sosei Group acquires Idorsia’s Japanese and Korean pharma units

Sosei Group Corporation has announced its decision to acquire all shares of Idorsia Pharmaceuticals Japan Ltd (“IPJ”) and Idorsia Pharmaceuticals Korea Co., Ltd (“IPK”) from Idorsia Ltd and Idorsia Pharmaceutical Ltd, a move that represents a major strategic investment into the Japan and APAC (ex-China) territories.

The resolution to carry out this acquisition was made at a meeting of the Board of Directors held on 20 July 2023.

The deal, valued at approximately JPY65 billion, includes rights to a promising pipeline of medicines from Idorsia’s portfolio in the Japan and APAC region, featuring lead product PIVLAZ (clazosentan). PIVLAZ has been gaining momentum in Japan since its successful launch in April 2022. Sosei Heptares plans to finance the transaction through a combination of JPY25 billion in existing cash and a new JPY40 billion long-term, low-rate unsecured corporate loan from Mizuho Bank.

Commenting on the acquisition, Chris Cargill, President & CEO of Sosei Heptares, said, “This fully funded transaction is truly transformational and achieves one of our key strategic objectives, establishing the Company as a fully integrated Japan-focused biopharmaceutical business, with growing commercial sales and an expected new product launch next year… The businesses we are acquiring are highly complementary to our existing UK and Japan operations and provide exciting opportunities and optionality to develop and commercialize our own portfolio, as well as partnered and future in-licensed products in Japan.”

Sosei Heptares sees immense potential in the Japan pharmaceutical market, thanks to its size, large ageing population, and high-quality clinical development and regulatory environment. With this acquisition, the company aims to establish a significant position in this market and become a partner of choice for development and commercialization in the territory.