Genfit To Buy This Swiss Firm Expanding Its Portfolio in Liver Diseases - Genfit (NASDAQ:GNFT)

Genfit SA GNFT has agreed to acquire the Swiss startup Versantis for CHF40 million upfront in a small-time buyout.
The deal, which includes another CHF65 million in milestones, further consolidates the company's position as a leader in acute-on-chronic liver failure (ACLF).
The deal is expected to close in the fourth quarter.
Additionally, if Versantis' lead program is awarded an FDA priority review voucher, Genfit would be entitled to one-third of the funds from the potential sale.
In December 2021, Genfit sold its lead NASH program to Ipsen SA IPSEY for up to €480 million.
Versantis' lead candidate, VS-01, is central to the acquisition.
A planned 60-patient Phase 2 Proof-of-concept trial of VS-01 in ACLF is expected to launch in the fourth quarter of 2022. Efficacy and safety interim data are expected as early as the first half of 2024.
Versantis' platform works by draining toxins using liposomes. A solution containing "scavengers" is injected into a patient's abdomen, soaks up ammonia and other toxins, and is then drained.
Versantis' follow-up program, VS-02, is an oral, small molecule designed to work similarly by minimizing ammonia absorption in patients with hepatic encephalopathy (HE).
Price Action: GNFT shares are up 4.18% at $4.28 on the last check Monday.