The transaction took place in connection with Gesynta’s recent capital raise and Orexo’s shares are valued at SEK 19.2 million.

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A purchase agreement in 2017

In 2017, Orexo and Gesynta entered into a purchase agreement under which Gesynta acquired all assets related to OX-MPI, with the intention of developing the drug candidate. In return, Orexo was entitled to receive share of future transaction proceeds and royalty on future net revenues generated from the program.

With successful fundraising, Gesynta will now proceed with development of vipoglanstat in a phase II clinical trial. The drug candidate has the potential to revolutionize the treatment of the inflammatory disease endometriosis.

“We are pleased to see the support from investors to Gesynta and the continued development of vipoglanstat. The early data from vipoglanstat is impressive and the drug candidate has the potential to help millions of women worldwide living with the chronic disease endometriosis. Orexo looks forward to continue as a shareholder in Gesynta and this transaction is fully in line with our objective of strengthening the Orexo financial results and equity position,” says Nikolaj Sørensen, CEO and President of Orexo.