Sweden's Hansa strikes $134 million deal with SERB for kidney drug

May 19 (Reuters) - Hansa Biopharma said on Tuesday ​it had ⁠agreed to license its kidney ​transplant drug Idefirix to privately held SERB Pharmaceuticals in Europe and some other markets ​for ‌up to 115 million euros ($134 million), bolstering the Swedish biotech firm's balance sheet ⁠as it prepares for a potential U.S. ⁠launch of the drug later ​this year.

The deal provides Hansa a cash runway to profitability and allows it to continue investing in its pipeline of other drugs.

* Hansa said ​the ‌agreement would help ensure a robust U.S. launch, pending a decision by the U.S. Food and Drug Administration, which is expected in December

* Under the agreement, SERB will get exclusive rights to develop and ​commercialise Idefirix in the EU, Britain, Switzerland, Norway, Liechtenstein, Iceland, the Middle ‌East and North Africa

* Idefirix, also known as imlifidase, is designed to quickly break down immunoglobulin G antibodies ‌that can cause a patient's immune system to reject a donor kidney

* The drug is conditionally approved in the EU, Norway, Liechtenstein, Iceland ​and the UK, and approved in Australia and Switzerland

* SERB will take responsibility for ‌development and commercialisation

* Hansa will receive 110 million euros upfront and a further 5 million euros when its application for full approval of Idefirix is ⁠accepted for ⁠review by the European Medicines Agency

* Jefferies ‌analysts estimate that sales of the drug could reach about 1.08 billion Swedish crowns ($114.9 ​million) in 2027 if ​it is approved in the U.S.

* Hansa ‌shares rose as much as 30% in early Tuesday trading in Stockholm