Swiss biopharmaceutical company Idorsia Ltd. has entered into negotiations to operate in the Asia Pacific region and gain licensing rights there for its products, writes John George for  Philadelphia Business Journal.

The company has its U.S headquarters in Radnor.

The deal could net Idorsia up to $440 million.

“This prospective strategic transaction would allow Idorsia to realize the significant value we have created in the region, and would extend our cash runway while maintaining relationships for the future development and commercialization of our pipeline programs in the region,” said André C. Muller, chief financial officer of Idorsia.

The potential transaction should be completed next month, he said.

Idorsia was founded in 2017, based in Basel, Switzerland. It has commercial operations in Europe, Japan, and the United States.

The company had $10.7 million in revenue in 2022, up from $38.5 million the previous year.

Its lead product, Quviviq, is a treatment for insomnia, approved by the FDA in January 2022.

The company has used endorsements from actress Jennifer Aniston and Olympic skier Lindsey Vonn to promote the product. 

Quviviq alone generated $7.2 million in sales last year.

Read more about Idorsia’s licensing deal to do business in the Asia Pacific in Philadelphia Business Journal