- Idorsia and Syneos Health collaborate to lead the transformation and modernization of the insomnia market in the US
- Syneos Health selected for their robust customer-facing sales expertise to effectively reach the primary care market
Allschwil, Switzerland and Morrisville, N.C. – August 31, 2020
Idorsia Ltd (SIX: IDIA) and Syneos Health (Nasdaq: SYNH) today announced an innovative commercial relationship for the US commercialization of Idorsia’s daridorexant, a new dual orexin receptor antagonist being investigated for the treatment of insomnia. The strategic collaboration brings Idorsia’s lead investigational compound, daridorexant, and expertise in the science of the orexin system, together with Syneos Health’s robust customer-facing sales expertise and proven track record in launching new products in the US.
Simon Jose, Chief Commercial Officer of Idorsia, commented:
“Idorsia has discovered and developed a sleep medicine that, for the first time, has demonstrated in pivotal studies not only an improvement in sleep onset and sleep maintenance, but also in daytime functioning. With the scientific and clinical data we have generated, we believe that we have a unique drug with a potential to have a disruptive impact on the insomnia market once approved by health authorities. Although we will build the core capabilities needed to successfully launch our products ourselves, we are collaborating with Syneos Health on daridorexant in order to effectively reach the primary care market, which accounts for a large volume of insomnia prescriptions. By working together, I believe we can lead the transformation and modernization of the sleep market and bring daridorexant to the millions of people suffering from chronic insomnia.”
Syneos Health is the industry’s leading Contract Commercial Organization (CCO) and the longest-tenured US provider of outsourced sales teams, having launched more new products, created more sales teams and recruited more resources in the last five years than any other biopharmaceutical solutions company. Syneos Health also leverages their unique Syneos One product development model, to accelerate product development and drive maximum asset value for customers.
Michelle Keefe, President, Syneos Health Commercial Solutions commented:
“We’re pleased to bring our best-in-class commercialization expertise to help daridorexant fulfill its full commercial potential. We view Idorsia as an innovative biopharmaceutical company and have created an innovative, revenue-driven agreement to match, ultimately accelerating growth and reaching patients who need this treatment most.”
On August 28, 2020, data from the first successful pivotal study was presented at SLEEP 2020, the world’s largest meeting devoted entirely to clinical sleep medicine, and sleep and circadian research (press release). In April and July of 2020, Idorsia reported positive results in each of the two pivotal Phase 3 studies of daridorexant in patients with insomnia. More details and commentary can be found in the dedicated press releases (first study release), (second study release) and the investor webcasts
(first study webcast), (second study webcast) which are available for replay on Idorsia’s corporate website: www.idorsia.com.
Patricia Torr, President and General Manager of Idorsia US, commented:
“During the selection process we found ourselves aligned in our collective vision and strategy for daridorexant. The expertise of the Idorsia commercial organization combined with the sales and customer support capabilities of Syneos Health made our decision to move forward together very easy. Idorsia US now has its leadership team in place, a prime location for our US headquarters, and a pioneering collaboration, the key ingredients to successfully launch our commercial operations.”
Christian Tucat, President, Syneos One concluded:
“Advanced product development models that offer a modern approach to commercialization matter. Syneos One is looking to bring forward our suite of end-to-end solutions to develop our long-term relationship with Idorsia, starting with the US launch of daridorexant.”
Insomnia is a condition of overactive wake signaling that can have a profound effect on the lives of patients. Insomnia can be defined as difficulty falling asleep and / or staying asleep, occurring at least three times a week for a minimum of three months. It is estimated that as many as one in ten people suffer from chronic insomnia and its impact is often underestimated; it can be a distressing condition that can impair quality of life, productivity and long-term health outcomes.
About Syneos Health
Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. Our Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. Our Company brings together approximately 24,000 clinical and commercial minds with the ability to support customers in more than 110 countries. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers’ delivery of important therapies to patients. To learn more about how we are shortening the distance from lab to life®, visit syneoshealth.com.
Idorsia Ltd is reaching out for more - We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core. Headquartered in Switzerland - a biotech-hub of Europe - Idorsia is specialized in the discovery and development of small molecules, to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team, a fully-functional research center, and a strong balance sheet – the ideal constellation to bringing R&D efforts to business success. Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 800 highly qualified specialists dedicated to realizing our ambitious targets. With its US Commercial Operations based in the Philadelphia region, Idorsia is committed to meet the changing needs of healthcare professionals, patients and their families. The core of what we do is to bring creative solutions to the market based on our science and data.
For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
For Syneos Health:
Senior Vice President, Investor Relations
+1 919 745 2745
Executive Director, External Communications
+1 202 210 5992
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 "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 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.