Idorsia completed a capital increase by way of an at-market rights offering. The offer price was set at CHF 22.50 per share and the capital increase resulted in gross proceeds of approximately CHF 535.5 Million. Idorsia intends to use the net proceeds of approximately CHF 520 Million to support the regulatory filing and, if approved, commercial launch of daridorexant and to fund the further development of its diversified pipeline. Credit Suisse, J.P. Morgan and BofA Securities acted as Joint Bookrunners in connection with the rights offering.
Niederer Kraft Frey acted as counsel to Idorsia. The team was led by partner Philipp Haas (pictured right), working with senior associates Deirdre Ní Annracháin and Andrea Giger, associate Shu Bernet-Zhang, and junior associates Sven Pinter and Stephanie Huchler (all Corporate and Capital Markets).