ARTICLE | Deals
Intercept sells ex-U.S. rights to onetime NASH darling
Preparing for key NASH submission, Intercept pads balance sheet via sale of territorial rights to Nordic Capital-owned Advanz for $405M
May 5, 2022 6:13 PM UTC
Updated on May 5, 2022 at 9:51 PM UTC
As Intercept continues to prepare a long-awaited resubmission of Ocaliva to treat NASH, the biotech has sold off ex-U.S. rights to the drug to private equity-backed Advanz for $405 million up front. This amounts to about four times its 2021 sales in those geographies.
The deal roughly doubles the cash position of Intercept Pharmaceuticals Inc. (NASDAQ:ICPT), which has struggled to expand the label of Ocaliva obeticholic acid beyond its initial indication of primary biliary cholangitis (PBC) to include fibrosis due to non-alcoholic steatohepatitis (NASH)...