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Genfit To Buy This Swiss Firm Expanding Its Portfolio in Liver Diseases

Published 19/09/2022, 17:42
© Reuters. Genfit To Buy This Swiss Firm Expanding Its Portfolio in Liver Diseases

  • Genfit SA (NASDAQ: GNFT) has agreed to acquire the Swiss startup Versantis for CHF40 million upfront in a small-time buyout.
  • The deal, which includes another CHF65 million in milestones, further consolidates the company's position as a leader in acute-on-chronic liver failure (ACLF).
  • The deal is expected to close in the fourth quarter.
  • Additionally, if Versantis' lead program is awarded an FDA priority review voucher, Genfit would be entitled to one-third of the funds from the potential sale.
  • In December 2021, Genfit sold its lead NASH program to Ipsen SA (OTC: IPSEY) for up to €480 million.
  • Versantis' lead candidate, VS-01, is central to the acquisition.
  • A planned 60-patient Phase 2 Proof-of-concept trial of VS-01 in ACLF is expected to launch in the fourth quarter of 2022. Efficacy and safety interim data are expected as early as the first half of 2024.
  • Versantis' platform works by draining toxins using liposomes. A solution containing "scavengers" is injected into a patient's abdomen, soaks up ammonia and other toxins, and is then drained.
  • Versantis' follow-up program, VS-02, is an oral, small molecule designed to work similarly by minimizing ammonia absorption in patients with hepatic encephalopathy (HE).
  • Price Action: GNFT shares are up 4.18% at $4.28 on the last check Monday.

Read the original article on Benzinga

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