Chordate CEO Anders Weilandt talks with Biostock about the last stage of the company’s exit strategy, Ozilia’s position within the migraine market, and the recent migraine market authorization in Saudi Arabia.
When can the shareholders expect an exit?
“All we can say is we’ve decided now that we’ve built up enough substance in our prior four steps in the strategy to reach this point where the assignment of Partner International is sensible to start.”
And Saudi Arabia will be a perfect proof of concept for this process?
“Yes, Saudi Arabia is a perfect proof of concept, and the reason is the fact that we’ve come so far. We have governmental approval for the product in public healthcare. We have reimbursement from major global insurance companies. And those are tick boxes of what you like to see when you are looking at market penetration. So Saudi Arabia, right now, is in the lead of our proof building.”
What kind of buyer will be the perfect fit, considering the huge potential that Chordate has?
“The perfect buyer is of course someone with the highest valuation of the opportunity. Obviously, that could be a buyer in the medtech field, certainly in the neuromodulation or the neuro diagnostic field. They do exist in the medtech industry. It could of course be someone in the pharma industry, certainly with some mix of business models. But there is also a third one, and that is portfolio building companies that are financially driven, that build up strong therapy focused companies for probably a later divestiture. So, there are a number of types of buyers.”
See the interview in full below
