France-based Servier, an independent international pharmaceutical group governed by a foundation, is to acquire sevasemten and the muscular dystrophy business of Edgewise Therapeutics, a US-based muscle disease biopharmaceutical company, for up to US$2.65bn, consisting of an upfront payment of US$1.55bn as well as up to US$1.1bn in regulatory and commercial milestone payments.
“The acquisition of Edgewise Therapeutics’ muscular dystrophy business is a key step forward to achieve our Servier 2030 ambition in neurology,” said Olivier Laureau, president of Servier.
Sevasemten is an investigational orally administered first-in-class fast skeletal myosin inhibitor designed to preserve and protect unstable muscle against contraction-induced damage in individuals living with rare muscular dystrophy. It is currently investigated in a pivotal cohort in Becker muscular dystrophy (BMD), and in phase 2 in Duchenne muscular dystrophy (DMD). This drug candidate has the potential to position Servier as a global player with strong capabilities and a pipeline in neuromuscular disorders.
“We believe Servier is well positioned to advance sevasemten and the muscular dystrophy programme given its growing focus in neurology, and global development capabilities,” said Kevin Koch, president and CEO of Edgewise Therapeutics. “This transaction is designed to place the programme in the hands of an organisation with the experience and infrastructure to support its continued development.”
Following the closing of the transaction, Edgewise will become a cardiovascular focused company.
Centerview Partners is exclusive financial advisor to Edgewise with Wilson Sonsini Goodrich & Rosati serving as legal counsel.
Press release: Acquisition of Edgewise Therapeutics’ Muscular Dystrophy Business
