Ascendis Pharma forms JV with investor syndicate

Ascendis Pharma announced the formation of Visen Pharmaceuticals, a joint venture, or JV, with an investor syndicate led by Vivo Capital, to develop, manufacture and commercialize the company’s endocrinology rare disease therapies in Greater China, which includes mainland China, Hong Kong, Macau and Taiwan. Ascendis has granted Visen exclusive rights to develop and commercialize TransCon hGH, TransCon PTH and TransCon CNP in Greater China, and has received 50% ownership of Visen. An investor syndicate led by Vivo, along with participation by Sofinnova Ventures, has invested $40M and has received 50% ownership of Visen. Visen will be responsible for all development, manufacturing and commercialization costs for TransCon hGH, TransCon PTH, and TransCon CNP in Greater China. Ascendis will be reimbursed for clinical trial material and technical support by Visen. Commercial supply will be negotiated for each product by Ascendis and Visen. Ascendis will collaborate with Visen to evaluate integration of Greater China into Ascendis Pharma’s global rare disease clinical development programs. Ascendis and Vivo have an option to participate in certain future investment rounds to maintain their pro rata ownership of the joint venture. Visen has a right of first negotiation on certain future Ascendis products within the endocrinology disease area limited to Greater China. Ascendis retains full rights to its TransCon technology products outside of Greater China.
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