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Clozel's CHF1bn Actelion Spin-Out Idorsia Awaits Janssen Buy-In

 
• By Eleanor Malone

Upon completion of Johnson & Johnson's $30bn acquisition of Actelion, Jean-Paul Clozel, the latter's outgoing CEO, aims to build a new European biopharma big-hitter – Idorsia – with the earlier-stage assets Actelion leaves behind. He's hoping that J&J's Janssen will soon opt in to rights to its lead candidate. Idorsia is preparing to launch onto the Swiss Stock Exchange with CHF1bn in cash at inception.

Jean-Paul Clozel, CEO of Actelion and soon to be CEO of Idorsia
Jean-Paul Clozel has high hopes for Actelion spin-out Idorsia • Source: Actelion

New company Idorsia's moment of truth will come soon after its inception: will Janssen Biotech Inc. exercise an option on its lead product? The opt-in on ACT-132577, an orally active dual endothelin receptor antagonist for which a Phase III trial design is in the works, would entail a milestone payment of $230m from Janssen.

That's on top of the CHF1bn that Idorsia has been given as launch cash following its formation as a spin-out from Actelion Pharmaceuticals Ltd., after the latter's $30bn acquisition by Janssen Biotech's parent, Johnson & Johnson

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