With Klaria's product, Sumatriptan Alginate Film, approved in the EU and set to launch in 2026 in the largest EU markets, the company has now engaged BDO LLP's UK Life Sciences & Healthcare M&A team (`BDO') to support business development initiatives in strategically important markets. In line with this, several strategic options are being considered that may lead to different potential outcomes, all with the aim of maximizing shareholder value.
Klaria will collaborate with BDO to identify and establish contact with potential partners. Primarily, the company will work to secure partners for Klaria's sumatriptan products in strategically important markets in addition to Klaria's business partner CNX and partners for the company's other alginate film technology for pharmaceuticals. With BDO's large global network and experience from a large number of transactions, Klaria is convinced that BDO is a good partner in the work of finding the best possible outcome for Klaria and, by extension, its owners.
Sumatriptan is the first-line treatment for diagnosed migraine, but current preparations are perceived to have shortcomings that Klaria's product, shown in studies, can address. The global market for sumatriptan is approximately SEK 28-30 billion with a growth rate of 7-9% annually. The USA accounts for approximately 50%, the EU 30% and RoW for 20%. Given the distinct advantages of Klaria's product, Klaria estimates that its market potential in Europe alone amounts to 10-30% of a growing market that is currently valued at approximately SEK 8 billion. Klaria estimates that the product's market share in the US market has the potential to reach the same market share as the European market, i.e. 10-30%. With an agreement with CNX in the EU and a launch in 2026, it is the right time to take the step towards other strategically important markets in the rest of the world for Klaria's sumatriptan products and the company's other alginate film technology for pharmaceuticals.
All potential options, including licensing or divestitures, that can maximize shareholder value will be considered.
BDO contact details: Alex Mackay (alex.e.mackay@bdo.co.uk) and Marc-Andre Michel (marc-andre.michel@bdo.co.uk) and BDO Baker Street London contact number: +44 (0)20 7486 5888.