Idorsia Proposes CHF120 Million Funding Deal with SPV Noteholders for Tryvio, Jeraygo Launch

02:48 AM EDT, 10/29/2026 (MT Newswires) -- Idorsia (IDIA.SW) proposed a 120 million-franc commercialization partnership with noteholders in special purpose vehicle Idorsia Investments SARL for the launch of systemic hypertension treatment Tryvio/Jeraygo, or aprocitentan, according to a Thursday release. Under the proposal, SPV noteholders would contribute 72 million francs in launch funding in exchange for new notes and a 12% earn-out on aprocitentan, selatogrel and cenerimod assets after the SPV debt is fully repaid. Idorsia would provide 48 million francs over two years to support market access, medical affairs, marketing and sales, in exchange for 30% of aprocitentan's global net revenue from the agreement's start date. Idorsia's plan projects breakeven in 2029. The Swiss biopharmaceutical company said the funding would support a specialist-focused US launch and a phased rollout of Tryvio/Jeraygo in Europe and Canada.