• Senior secured term loan of up to CHF 250 million with a 5‑year maturity at a fixed 7% interest rate
• First tranche will fully refinance the existing New Money Facility, maturing in May 2027
• Eliminates near‑term debt maturities and strengthens balance sheet and liquidity profile
• Additional tranches available to fund targeted initiatives accelerating growth and long‑term value creation

Idorsia Ltd (SIX: IDIA), a commercial-stage biopharmaceutical company with a portfolio of first- or best-in-class assets, announced that it has entered into a senior secured term loan agreement of up to CHF 250 million with investment funds managed by Pharmakon Advisors, LP.

The first tranche of CHF 150 million will be provided at closing. The proceeds will initially be used to fully refinance the existing New Money Facility, of which CHF 105 million has been drawn to date and which is scheduled to mature in May 2027. The refinancing eliminates near‑term debt maturities and materially enhances Idorsia’s liquidity profile.

Additional tranches may be drawn – subject to customary conditions – providing further financial flexibility to support targeted initiatives to accelerate growth and long‑term value creation.

Arno Groenewoud, Chief Financial Officer of Idorsia, commented:
“With Pharmakon, we have selected an exceptionally well‑capitalized and highly respected partner in the biotech sector. Securing this facility reflects Pharmakon’s confidence in the strength of our business and its future potential. Refinancing the New Money Facility eliminates our near‑term debt maturities, extends our cash runway well into 2028, and significantly strengthens our balance sheet. At the same time, we remain firmly committed to disciplined cost management and prudent capital allocation.”

Jean-Paul Clozel, MD, Chairman of the Board of Directors and interim CEO of Idorsia, commented:
“This financing marks a clear inflection point for Idorsia. It enables us to move beyond a period that has constrained our strategic flexibility and positions us to fully focus on unlocking the value of our assets. With a strengthened financial foundation, we are now well placed to drive focused execution, accelerate growth, and deliver on the potential of our portfolio – while maintaining strict financial discipline.”