Genfit agrees to acquire biopharma firm Versantis for $109m
Christian Fernsby ▼ | September 21, 2022
French Genfit has signed an exclusivity agreement for the acquisition of all the share capital and voting rights of Versantis, a Switzerland-based clinical-stage biotechnology firm, in a deal totalling $109m (Sfr105m).Article continues below
Versantis focuses on unmet liver ailment needs. Its key asset, VS-01, is a first-in-class liposomal-based treatment product candidate.
This product is being analysed clinically as a first-line therapy for acute-on-chronic liver failure (ACLF) and urea cycle disorder (UCD).
The company intends to commence a randomised, controlled Phase II proof-of-concept clinical trial of VS-01, enrolling 60 ACLF patients in the fourth quarter of the year.
Apart from VS-01, Versantis also has a pre-clinical oral, small molecule drug candidate, VS-02, which is under development for potential chronic management of hepatic encephalopathy (HE).
According to the agreement, Genfit will make an initial payment of $41.4m (Sfr40m) to Versantis at closing.
On obtaining positive data from Phase II trials of VS-01 and VS-02, as well as regulatory approval for VS-01, Versantis will receive additional payments of up to $67.5m (Sfr65m).
Additionally, Versantis is entitled to get one-third of the net proceeds from the sale of the Priority Review Voucher of paediatric application for VS-01 to a third party by Genfit.
On Genfit choosing to use it for a programme of its own, Versantis will receive one-third of the voucher’s fair market value. ■ What to read next
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