Idorsia strengthens financial position with up to CHF 250 million loan from Pharmakon
Ad hoc announcement pursuant to Art. 53 LR
- 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
Allschwil, Switzerland – June 9, 2026
Idorsia Ltd (SIX: IDIA), a commercial-stage biopharmaceutical company with a portfolio of first- or best-in-class assets, today 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.”
Notes to the editor
About the New Money Facility
In February 2025, Idorsia secured a New Money Facility for a net amount of CHF 150 million, with a maturity of 24 months from first utilization (May 2027), fully backstopped by a group of bondholders. Idorsia has drawn CHF 105 million under this facility to date.
About Pharmakon Advisors
Pharmakon Advisors, LP is a leading investor in non‑dilutive debt for the life sciences industry and serves as the investment manager for the BioPharma Credit funds. Established in 2009, funds managed by Pharmakon Advisors have committed up to USD 13 billion across 77 investments.
About Idorsia
The purpose of Idorsia is to discover, develop and commercialize innovative medicines to help more patients. To achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.
Headquartered near Basel, Switzerland – a European biotech hub – Idorsia has a highly experienced team of dedicated professionals, covering all disciplines from bench to bedside; QUVIVIQ™ (daridorexant), a different kind of insomnia treatment with the potential to revolutionize this mounting public health concern; strong partners to maximize the value of our portfolio; a promising in-house development pipeline; and a specialized drug discovery engine focused on small-molecule drugs that can change the treatment paradigm for many patients. Idorsia is listed on the SIX Swiss Exchange (ticker symbol: IDIA).
For further information, please contact
Kevin Boss
Director, Investor Relations
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com – media.relations@idorsia.com – www.idorsia.com
The above information contains certain “forward-looking statements”, relating to the company’s business, which can be identified by the use of forward-looking terminology such as “intend”, “estimates”, “believes”, “expects”, “may”, “are expected to”, “will”, “will continue”, “should”, “would be”, “seeks”, “pending” or “anticipates” or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company’s investment and research and development programs, business development activities and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company’s existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.
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