Sobi Strengthens Focus and Increases Investments in Late-Stage Development in Haematology and Immunology
STOCKHOLM, June 12, 2019 /PRNewswire/ --
- Intended reorganisation of R&D to increase focus and investment in late-stage development
- Plans to establish centres of excellence in Sweden and Switzerland
- The new focus of the R&D organisation would lead to annual savings of SEK 200–300 M in 2020 to be reallocated to late-stage development. Costs of around SEK 100–200 M relating to the reorganisation and redundancies will be charged in 2019.
Following today's announcement of the acquisition of emapalumab and related assets, Sobi™ (Swedish Orphan Biovitrum AB (publ) (STO: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."
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.
At Sobi, we are transforming the lives of people affected by rare diseases. As a specialised international biopharmaceutical company, we provide sustainable access to innovative therapies in the areas of haematology, immunology and specialty care. We bring something rare to rare diseases – a belief in the strength of focus, the power of agility and the potential of the people we are dedicated to serving. The hard work and dedication of our approximately 1050 employees around the globe has been instrumental in our success across Europe, North America, the Middle East, Russia and North Africa, leading to total revenues of SEK 9.1 billion in 2018. Sobi's share (STO:SOBI) is listed on Nasdaq Stockholm. You can find more information about Sobi at www.sobi.com.
This information is information that Swedish Orphan Biovitrum AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Linda Holmström, Corporate Communications and Investor relations at 13:10 CEST on 12 June 2019.
For more information please contact:
Head of Communication & Investor Relations
Corporate Communication & Investor Relations
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Sobi strengthens focus and increases investments in late-stage development in Haematology and Immunology
SOURCE Swedish Orphan Biovitrum AB
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