Hansa Biopharma Secures USD 30 Million Convertible Note to Fund Imlifidase US Launch
Lund, Sweden-based Hansa Biopharma AB, a commercial-stage biopharmaceutical company developing immunomodulatory therapies for patients with acute or complex immune disorders, has closed a USD 30 million convertible note financing with funds managed by Athyrium Capital Management. The unsecured convertible senior notes mature in March 2031, carry a fixed interest rate of 3% per year, and include a conversion premium of 25% on the 30-day volume-weighted average share price. The company said the financing extends its cash runway into mid-2027 and is intended to support a US launch of its lead candidate imlifidase, subject to US FDA approval.
Athyrium Capital Management, a healthcare-focused asset manager with over USD 4.6 billion in committed capital, was the sole investor in the transaction. Laurent Hermouet, Partner at Athyrium, said the firm believes imlifidase has the potential to be the first product specifically targeting the unmet need among highly sensitized patients on the kidney transplant wait list. CEO Renée Aguiar-Lucander said the transaction positions the company to execute its US launch plan and ensures resources are in place in a timely manner. Stifel Financial Corp. served as financial advisor to Hansa Biopharma.
Hansa Biopharma's pipeline is built around a proprietary IgG-cleaving enzyme technology platform. The platform uses endopeptidases that rapidly and specifically cleave immunoglobulin G antibodies, neutralizing pathogenic antibodies without broad immunosuppression. Imlifidase, derived from the Streptococcus pyogenes IgG-degrading enzyme IdeS, is the company's lead candidate and has been developed to enable kidney transplantation in highly sensitized patients whose pre-existing donor-specific antibodies otherwise preclude transplant. Imlifidase received conditional marketing authorization from the European Commission in 2020 under the brand name Idefirix. The company's second pipeline asset, HNSA-5487, is a next-generation IgG-cleaving molecule being developed for Guillain-Barré Syndrome. The company has also stated that its platform has applications in gene therapy, where pre-existing anti-AAV antibodies can limit patient eligibility for vector-based treatments.
The foundational science underlying the platform originated at Lund University, where Professor Lars Björck and colleagues first characterized the IdeS enzyme. Hansa Biopharma was established as a university spinout in 2007, with intellectual property licensed from Lund University. The company's headquarters remain in Lund. The company has previously entered into a collaboration with Sarepta Therapeutics to explore the use of imlifidase as an enabling treatment for gene therapy by clearing anti-AAV antibodies prior to vector administration. Details of previous funding rounds were not disclosed in the current announcement.
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