Idorsia Pharmaceutical secures CHF 75 million bridge financing

By Marisa Wong

Los Angeles, June 20 – Idorsia Pharmaceuticals Ltd. announced it has secured bridge financing in the amount of CHF 75 million to extend its cash runway until the end of July and in the meantime to be able to complete the recently announced prospective strategic transaction for its Asia Pacific (ex-China) operations.

The credit facility was provided by Jean-Paul Clozel, chief executive officer, member of the board of directors and Idorsia’s largest shareholder, according to a press release.

Idorsia is an Allschwil, Switzerland-based biotechnology company.

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