Hansa Biopharma (HNSA) Investor update summary

Transaction overview and strategic rationale

• Entered an exclusive out-licensing agreement for IDEFIRIX in the EU, UK, Switzerland, Norway, Liechtenstein, Iceland, and MENA, with €110 million upfront and €5 million upon EMA filing acceptance, totaling €115 million.

• SERB will assume commercialization, medical affairs, market access, regulatory responsibilities, and long-term study sponsorship post-closing.

• The deal enables broader and more consistent commercial reach in Europe and MENA, leveraging SERB’s expertise and distribution network.

• Hansa will support a smooth handover, continue supplying IDEFIRIX, and transfer relevant employees to SERB, subject to consultations.

• No royalties or additional milestone payments beyond those disclosed.

Financial impact and operational changes

• Pro forma cash position post-deal estimated at SEK 1.9 billion ($200 million), extending cash runway potentially through U.S. profitability.

• Upfront proceeds will be used to deleverage, including a $15 million payment to reduce 2027 NovaQuest debt by $10 million and a $3 million lien release fee.

• Cost base to improve by up to 50 MSEK in 2H 2026 and up to 150 MSEK in 2027 due to reduced medical, commercial, and R&D costs in Europe.

• No European royalties will be paid to NovaQuest post-closing; SERB will not owe royalties in licensed territories.

• Out-licensing agreement provides substantial non-dilutive financing and a clear path to profitability.

Operational and pipeline updates

• U.S. launch preparations for IDEFIRIX are ongoing, with a complete leadership team and strengthened field presence, targeting a robust launch in early 2025 pending FDA approval.

• HNSA-5487 clinical development for Guillain-Barré syndrome progressing, with FDA interactions ongoing and trial initiation targeted by year-end 2026.

• Early pipeline programs continue, with potential data updates expected by year-end and exploration of new partnerships in gene therapy and other areas.