Santhera Shores Up Finances With Chiesi Deal for Raxone

Santhera Pharmaceuticals AGis making the bold move of outlicensing to Chiesi Farmaceutici SPA its only revenue generator – Raxone for Leber’s hereditary optic neuropathy (LHON) – to raise funds for the Swiss company's pipeline.

The privately owned Italian group is paying CHF50m ($50m) upfront and near- to mid-term sales milestone payments of up to CHF55m for the rights to Raxone (idebenone) in LHON and all other ophthalmological indications worldwide except the US and Canada. The deal also gives Chiesi an option to fully acquire Santhera's Raxone business as the latter puts its focus firmly advancing its pipeline, notably the Duchenne muscular dystrophy (DMD) candidates Puldysa (idebenone) and vamorolone, acquired from Actelion Pharmaceuticals Ltd