Sobi completes acquisition of emapalumab and related assets
Following approvals from relevant competition authorities Swedish Orphan Biovitrum AB (publ) (Sobi™) (STO:SOBI) has completed the acquisition of the newly established company owning emapalumab and related assets, as announced on 12 June 2019. The acquisition means that the previously announced exclusive licence agreement with Novimmune will be superseded.
Through the acquisition of emapalumab, Sobi gains access to:
- All assets relating to emapalumab including intellectual property, patent rights, data and know-how
- All relevant and highly experienced employees involved in the clinical and biopharmaceutical development of emapalumab
- Options for the shared financial rights to NI-1701 and NI-1801, two product candidates in the field of immuno-oncology
- A priority review voucher within the US Food & Drug Administration’s priority review programme, which offers companies investing in orphan drugs a cost reduction for the application fee for future products and shortens the review period. The voucher can be used or sold by Sobi.
The consideration for the acquisition is CHF 515 M (SEK 4,897 M), of which CHF 400 M was previously committed in the exclusive licence agreement for emapalumab. The acquisition is expected to be earnings neutral in 2019.
The acquisition is debt-financed, with new credit facilities made available by BNP Paribas, Danske Bank, Skandinaviska Enskilda Banken and Svenska Handelsbanken.
Emapalumab is a monoclonal antibody (mAb) that binds to and neutralises interferon gamma (IFNγ). In the US, emapalumab is indicated for paediatric (newborn and older) and adult primary haemophagocytic lymphohistiocytosis (HLH) patients with refractory, recurrent or progressive disease, or intolerance to conventional HLH therapy. Emapalumab is the first and only medicine approved in the US for primary HLH, a rare syndrome of hyperinflammation that usually occurs within the first year of life and can rapidly become fatal unless diagnosed and treated. The FDA approval is based on data from the phase 2/3 studies (NCT01818492 and NCT02069899). Emapalumab is indicated to be administered through intravenous (IV) infusion over one hour twice per week until haematopoietic stem cell transplant (HSCT). Visit www.gamifant.com for more information, including full US prescribing Information.
Emapalumab was developed and submitted for approval to the FDA by Novimmune. Sobi acquired the global rights to emapalumab from Novimmune through an exclusive licensing agreement announced in July 2018, which is now superseded by the above announced acquisition.
At Sobi, we are transforming the lives of people affected by rare diseases. As a specialised international biopharmaceutical company, we provide sustainable access to innovative therapies in the areas of haematology, immunology and specialty care. We bring something rare to rare diseases – a belief in the strength of focus, the power of agility and the potential of the people we are dedicated to serving. The hard work and dedication of our approximately 1,050 employees around the globe has been instrumental in our success across Europe, North America, the Middle East, Russia and North Africa, leading to total revenues of SEK 9.1 billion in 2018. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. You can find more information about Sobi at www.sobi.com.
For more information please contact
|Paula Treutiger, Head of Communication & Investor Relations|
|0733 666 599|
|Linda Holmström, Corporate Communication & Investor Relations|
|0708 734 095|