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Hansa Biopharma Announces $70 Million Non-dilutive Product Finance Transaction With NovaQuest to Support Continued Development of the Company’s Antibody-cleaving Enzyme Technology Platform

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Hansa Biopharma Announces $70 Million Non-dilutive Product Finance Transaction With NovaQuest to Support Continued Development of the Company's Antibody-cleaving Enzyme Technology Platform | Pharmtech Focus

Hansa Biopharma AB, (Hansa), (Nasdaq Stockholm: HNSA), a pioneer in enzyme technology for rare immunological conditions, today announces that the Company has entered into an agreement with U.S.-based NovaQuest Capital Management, securing $70 million in non-dilutive financing.

“This transaction, which extends our cash runway through 2024, helps bolster our ability to invest in the continued development of our unique antibody-cleaving enzyme technology platform across multiple therapeutic areas,” said Donato Spota, Chief Financial Officer of Hansa Biopharma.

Mr. Spota continued, “We now have the resources we need to fully fund our U.S. ConfIdeS trial, which is evaluating imlifidase as a potential desensitization therapy to enable kidney transplants in highly sensitized patients waiting for a deceased donor kidney through the U.S. kidney allocation system and is expected to support submission of a BLA to the FDA under the accelerated approval pathway in the first half of 2024, as well as our global Phase 3 development program in anti-GBM antibody disease, which is expected to commence this year. The funds, together with our existing cash, may also be used to complete our existing Phase 2 programs in antibody mediated kidney transplant rejection (AMR) and Guillain-Barré Syndrome (GBS) and to advance our next generation of enzymes (NiceR) into clinical development.”

“The team at Hansa has demonstrated the clinical benefit of imlifidase for enabling kidney transplantation in highly sensitized patients sufficiently to gain EMA approval and appropriate reimbursement in an expanding number of key European countries,” said Brett Fleshman, Managing Director at NovaQuest Capital Management, “NovaQuest is delighted that Hansa has chosen to fund the ongoing launch in Europe, and US pivotal trials for kidney transplantation and anti-GBM antibody disease through this unique Product Finance transaction.”, he continued.

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