Following today’s announcement of the acquisition of emapalumab and related assets, Sobi™ intends to carry out a reorganisation to increase the focus of research & development resources to support its two core therapeutic areas: Haematology and Immunology.
Sobi’s focus for the future is on building its pipeline through the continued development of core assets in late stage and the acquisition of promising late-stage candidates. To this end, Sobi intends to establish two centres of excellence, for Haematology in Sweden and for Immunology in Switzerland.
Guido Oelkers, Sobi President and CEO, says: “This planned structural alignment will sharpen the focus of the company on our two main areas: Haematology and Immunology. The integration of the emapalumab organisation
makes this alignment possible.
“We will continue to increase our R&D spend in late-stage development, demonstrating our commitment to making a significant difference for people with rare diseases by providing access to innovative treatments within the rare disease space.”
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Sobi also intends to discontinue discovery/early research and partner R&D programmes outside its core focus areas. This includes the intention to divest the SOBI006 project and the SOBI003 project.
The new focus of the R&D organisation is expected to lead to annual savings of SEK 200–300 M on a full-year basis in 2020, which will increase the company’s financial flexibility to reallocate future investments into late-stage
development projects. In 2019 restructuring costs of around SEK 100–200 M relating to the reorganisation and redundancies corresponding to approximately 90 positions will be charged. Guidance for the full year 2019, excluding restructuring costs, remains unchanged.
Date: June 17, 2019
Source: Bloomberg