Edgewise sells sevasemten business for $1.55 billion

• Edgewise Therapeutics completed the sale of sevasemten and its muscular dystrophy business to Servier.
• The transaction includes $1.55 billion upfront cash and up to $1.1 billion in potential milestones.
• Edgewise said it will focus resources on its cardiovascular pipeline following the transaction.

Edgewise Therapeutics (NASDAQ:EWTX) completed the sale of sevasemten and its muscular dystrophy business to Servier for $1.55 billion in upfront cash and up to $1.1 billion in potential regulatory and commercial milestones.

The transaction follows Servier’s acquisition of rights to sevasemten, intellectual property, regulatory filings, clinical data and related business assets as Edgewise shifts its focus toward cardiovascular drug development.

Servier acquired all sevasemten rights, key agreements and clinical materials, while core muscular dystrophy employees received offers to transition as part of the transaction.

Edgewise said the upfront proceeds are expected to fully fund EDG-7500 through potential approval and support planned Phase 3 and Phase 2 clinical trials.

Edgewise Therapeutics develops small-molecule medicines for serious muscle and cardiovascular diseases, with its pipeline including programs targeting cardiac and skeletal muscle conditions.

The company said it will now prioritize its cardiovascular programs, including EDG-7500, EDG-15400 and EDG-003, while Servier takes responsibility for sevasemten development.