On 23 October 2020, Idorsia Ltd completed a capital increase by way of an at-market rights offering. The offer price was set at CHF 22.50 per share and the capital increase resulted in gross proceeds of approximately CHF 535.5 Million. Idorsia intends to use the net proceeds of approximately CHF 520 Million to support the regulatory filing and, if approved, commercial launch of daridorexant and to fund the further development of its diversified pipeline. Credit Suisse, J.P. Morgan and BofA Securities acted as Joint Bookrunners in connection with the rights offering.

Bär & Karrer acted as legal advisor to the Joint Bookrunners in this transaction. The team included Thomas U. Reutter, Alexander von Jeinsen, Rebecca Schori and Sandro Fehlmann (all Capital Markets) as well as Susanne Schreiber and Kerim Tbaishat (both Tax).