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27.10.2021 GlobeNewswire: Johnson & Johnson partially converts its convertible loan

Johnson & Johnson partially converts its convertible loan


Ad hoc announcement pursuant to Art. 53 LR


Allschwil, Switzerland – October 2 7 , 2021

Idorsia Ltd (SIX: IDIA) today announced that Cilag Holding AG, an indirect

subsidiary of Johnson & Johnson, notified Idorsia that it will convert a second

tranche of the remaining principal amount of CHF 445 million convertible loan,

such that CHF 110 million will be converted into 9.6 million shares of Idorsia.



As a result of the conversion, Idorsia will issue 9’581’882 new shares and

Idorsia share capital will increase from CHF 8’364’748.55 to CHF 8’843’842.65,

divided into 176’876’853 Idorsia shares.


As a result of conversion of the second tranche of the convertible loan, Cilag

Holding AG will hold 5.7% of Idorsia’s issued share capital. Following

conversion, the remaining principal amount of the convertible loan will be CHF

335 million, convertible into 29.1 million shares of Idorsia.


Notes to the editor


About the convertible loan

On June 15, 2017, Cilag Holding AG (“Cilag”) provided a loan of CHF 580 m to

Idorsia, which was convertible into ordinary shares of Idorsia up to an

aggregate of 32% of the share capital at the time that the loan was provided.

The loan does not carry interest, has a term of 10 years and matures on June

15, 2027.


On June 19, 2017, a first tranche of the convertible loan of CHF 135 m was

mandatorily converted and Cilag acquired 11,793,220 of the shares of Idorsia.

These shares were sold by Cilag in a secondary offering on July 8, 2020.


About Idorsia

Idorsia Ltd is reaching out for more – We have more ideas, we see more

opportunities and we want to help more patients. In order to achieve this, we

will develop Idorsia into a leading biopharmaceutical company, with a strong

scientific core.


Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is

specialized in the discovery, development and commercialization of small

molecules to transform the horizon of therapeutic options. Idorsia has a broad

portfolio of innovative drugs in the pipeline, an experienced team of

professionals covering all disciplines from bench to bedside, state-of-the-art

facilities, and a strong balance sheet – the ideal constellation to translate

R&D efforts into business success.


Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June

2017 and has over 1,000 highly qualified specialists dedicated to realizing our

ambitious targets.


For further information, please contact

Andrew C. Weiss

Senior Vice President, Head of Investor Relations & Corporate Communications

Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil

+41 58 844 10 10 – –


The above information contains certain 'forward-looking statements', relating

to the company's business, which can be identified by the use of

forward-looking terminology such as 'estimates', 'believes', 'expects', 'may',

'are expected to', 'will', 'will continue', 'should', 'would be', 'seeks',

'pending' or 'anticipates' or similar expressions, or by discussions of

strategy, plans or intentions. Such statements include descriptions of the

company's investment and research and development programs and anticipated

expenditures in connection therewith, descriptions of new products expected to

be introduced by the company and anticipated customer demand for such products

and products in the company's existing portfolio. Such statements reflect the

current views of the company with respect to future events and are subject to

certain risks, uncertainties and assumptions. Many factors could cause the

actual results, performance or achievements of the company to be materially

different from any future results, performances or achievements that may be

expressed or implied by such forward-looking statements. Should one or more of

these risks or uncertainties materialize, or should underlying assumptions

prove incorrect, actual results may vary materially from those described herein

as anticipated, believed, estimated or expected.




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