Idorsia reports results in relation to the Axovan arbitration – claim dismissed by Arbitral Tribunal
Allschwil, Switzerland – February 2, 2021
Idorsia Ltd (SIX: IDIA) today reported the results of an arbitration proceeding between Actelion Ltd (“Actelion”) and the assignee of certain former Axovan shareholders (the “Claimant”) claiming that the acquisition of Actelion by Johnson & Johnson and/or the Demerger triggered the accelerated payment of all outstanding milestones mainly relating to clazosentan (the “Claim”).
Idorsia was notified that the Claim had been dismissed by the Arbitral Tribunal in its final award dated February 1, 2021.
Idorsia remains fully committed to developing and commercializing clazosentan and to paying any milestones, if and when due.
Further commentary will be given during the company’s full year financial results 2020 webcast and conference call which is scheduled for Thursday, February 4, 2021 at 14:00 CET / 13:00 GMT /
08:00 EST. Further access details can be found here.
Notes to the editor
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 900 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
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.