Swedish biotechnology company Hansa Biopharma AB (STO:HNSA) announced on Tuesday an exclusive licensing agreement with specialty pharmaceutical company SERB S.A. for the development and commercialisation of IDEFIRIX (imlifidase) across the European Union, the UK, Switzerland, Norway, Liechtenstein, Iceland, and the Middle East and North Africa (MENA) region.

IDEFIRIX is a first-in-class treatment that specifically targets and cleaves all classes of immunoglobulin G (IgG) antibodies within 2 to 6 hours. It is conditionally authorised by the European Commission for the desensitisation treatment of highly sensitised adult kidney transplant patients with a positive crossmatch test against an available deceased donor.

Under the agreement, Hansa has granted SERB an exclusive licence in the designated territories for development and commercialisation of IDEFIRIX in transplantation. The Swedish company will receive EUR110m upfront and an additional EUR5m upon acceptance of the filing for full European Medicines Agency approval of IDEFIRIX.

Hansa said the transaction strengthens its financial position, supports a planned US launch, and provides a path to profitability subject to US regulatory approval.

Subject to customary closing conditions, including foreign direct investment regulatory approval, the transaction is expected to close within 60 days.