Edgewise Therapeutics (EWTX) to sell sevasemten business to Servier for up to $2.65B
Rhea-AI Filing Summary
Edgewise Therapeutics entered a definitive agreement for Servier to acquire sevasemten and its muscular dystrophy business for $1.55 billion in upfront cash and up to $1.1 billion in milestones, for potential total consideration of $2.65 billion. The deal is subject to customary conditions, including Hart-Scott-Rodino antitrust clearance, and is expected to close in Q3 2026. Edgewise states the upfront proceeds, together with existing cash, are expected to fully fund EDG-7500 through potential approval and support expansion of its cardiovascular pipeline, which includes EDG-7500 for hypertrophic cardiomyopathy, EDG-15400 for HFpEF and EDG-003. The company plans to report 12-week CIRRUS-HCM Part D data in Q2 2026 and target Phase 3 initiation of EDG-7500 in Q4 2026.
Positive
- Monetization of neuromuscular program: Sale of sevasemten and the muscular dystrophy business to Servier for $1.55 billion upfront plus up to $1.1 billion in milestones, for potential total consideration of $2.65 billion.
- Non-dilutive funding for lead program: The company states that upfront proceeds, together with existing cash, are expected to fully fund EDG-7500 development for hypertrophic cardiomyopathy through potential approval.
- Strategic focus: Transaction transitions Edgewise to a cardiovascular-focused company centered on EDG-7500, EDG-15400 and EDG-003, with defined upcoming clinical milestones.
Negative
- None.
Insights
Large neuromuscular asset sale refocuses Edgewise on cardiovascular drugs with major non-dilutive funding.
Edgewise Therapeutics agreed to sell sevasemten and its muscular dystrophy business to Servier for $1.55 billion upfront and up to $1.1 billion in milestones, totaling as much as $2.65 billion. This is a substantial monetization of a late-stage neuromuscular asset.
Management states the upfront proceeds, combined with existing cash, are expected to fully fund EDG-7500 through potential approval and support broader cardiovascular development, reducing reliance on equity or debt. The company will concentrate on EDG-7500, EDG-15400 and EDG-003 after closing.
The transaction still depends on customary closing conditions, including Hart-Scott-Rodino clearance and absence of a Material Adverse Effect. Near-term milestones include 12-week CIRRUS-HCM Part D data in Q2 2026 and planned Phase 3 initiation for EDG-7500 in Q4 2026, which will be key for validating the cardiovascular strategy.
8-K Event Classification
Key Figures
Key Terms
Hart-Scott-Rodino Antitrust Improvements Act of 1976 regulatory
Material Adverse Effect regulatory
Orphan Drug Designation regulatory
Rare Pediatric Disease Designation regulatory
Fast Track designations regulatory
Phase 2 trial technical
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement |
On June 1, 2026, Edgewise Therapeutics, Inc., (the “Company”) announced its entry into an Asset Purchase Agreement (the “Agreement”) with Servier Pharmaceuticals LLC and Les Laboratoires Servier (together, the “Buyers”) on May 31, 2026. A copy of the press release announcing the transaction is attached as Exhibit 99.1 to this Current Report on Form 8-K. The Agreement provides that, subject to the satisfaction or waiver of certain conditions, the Buyers will acquire the sevasemten compound (“Sevasemten”) and certain other related assets (the “Purchased Assets”) collectively constituting the Company’s neuromuscular program (the “Program”) and assume certain liabilities of the Program from the Company (the “Transaction”) for:
| • | $1.55 billion in cash, payable at closing (net of certain amounts placed into escrow); |
| • | a potential milestone payment upon achieving U.S. marketing approval for Sevasemten for Becker Muscular Dystrophy in the amount of (i) $200 million, in cash, payable in the event of an approved labelling including specified adult and adolescent populations or (ii) $100 million in cash, payable in the event of an approved labelling including only specified adult populations (if (i) has not previously been achieved); |
| • | a potential milestone payment of $600 million in cash, payable upon the achievement of U.S. marketing approval for Sevasemten for Duchenne Muscular Dystrophy; and |
| • | a potential milestone payment of $300 million in cash, payable upon the achievement of annual U.S. net sales of Sevasemten products exceeding $550 million. |
In connection with the Transaction, the Buyers will make offers of employment to certain employees of the Company who primarily support the Program on terms that are comparable to those currently in effect for such employees.
The Agreement contains certain representations, warranties and covenants of each of the Company and the Buyers, including covenants by the Company relating to the operation of the Program prior to the closing. The Buyers have obtained “representation and warranty” insurance, which provides coverage for certain breaches of representations and warranties by the Company, subject to a deductible and certain other terms and conditions.
The Buyers and the Company have agreed to indemnify the other for certain losses arising out of breaches of representations and covenants and for certain losses arising out of excluded liabilities or assumed liabilities, as applicable, subject to customary limitations, and other matters specified in the Agreement.
The consummation of the Transaction is subject to the satisfaction of customary closing conditions, including the termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the absence of any law or order restraining, enjoining or otherwise making illegal the consummation of the closing. Each party’s obligation to consummate the Transaction is also subject to the accuracy of the other party’s representations and warranties contained in the Agreement (subject, with specified exceptions, to customary materiality standards) and the other party’s performance of its covenants and agreements in all material respects. The Buyers’ obligation to consummate the Transaction is also subject to a condition that, since the date of the Agreement, there has not been a “Material Adverse Effect,” as defined in the Agreement. The parties have agreed to certain efforts obligations to promptly obtain the antitrust approvals required for the Transaction. The Company expects to close the Transaction in Q3 2026.
The Agreement provides termination rights for the Buyers and the Company under certain circumstances, including, subject to certain conditions, an uncured material breach by the other party or if the Transaction is not consummated by September 30, 2026.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which will be attached to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
In connection with the Transaction, the parties will also enter into a transition services agreement and certain other ancillary agreements at the closing.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits:
| Exhibit No. | Exhibit Description | |
| 99.1 | Press Release, dated June 1, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this Current Report on Form 8-K that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding the Transaction, including the Transaction timeline and potential payments which may become owing to the Company. Words such as “expects,”, “may,” “will,” “potential” and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: uncertainties relating to the timing of the consummation of the Transaction; the possibility that any or all of the conditions to the closing of the Transaction may not be satisfied or waived, including failure to receive required regulatory approvals; the effect of the announcement or pendency of the Transaction on the Company’s ability to maintain relationships with suppliers and other business partners; and risks relating to potential diversion of management attention away from the Company’s ongoing business operations. Information regarding the foregoing and additional risks may be found in the section entitled “Risk Factors” in documents that the Company files from time to time with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date of this Current Report on Form 8-K, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EDGEWISE THERAPEUTICS, INC. | ||
| By: | /s/ Michael Nofi | |
| Name: | Michael Nofi | |
| Title: | Chief Financial Officer | |
Date: June 1, 2026
Exhibit 99.1
| NEWS RELEASE |
Edgewise Therapeutics Announces Sale of Sevasemten for Up to $2.65 Billion, Strengthening Balance Sheet and Centering Company Focus on Cardiovascular Pipeline
— Edgewise to Receive $1.55 Billion in Upfront Cash Consideration and is Eligible to Receive up to $1.1 Billion in Regulatory and Commercial Milestones —
— Transaction Creates Focused Cardiovascular Company with Enhanced Strategic Clarity —
— Upfront Proceeds Expected to Fully Fund EDG-7500 Development Through Potential Approval —
— On Track to Report 12-Week CIRRUS-HCM Part D Data in Q2 2026 —
BOULDER, Colo., [June 1, 2026] — Edgewise Therapeutics, Inc. (Nasdaq: EWTX), a leading muscle disease biopharmaceutical company, today announced that it has entered into a definitive agreement under which Servier, an independent international pharmaceutical group governed by a foundation, will acquire sevasemten and Edgewise’s muscular dystrophy business for $1.55 billion in upfront cash consideration and up to $1.1 billion in additional milestone payments, for aggregate potential consideration of up to $2.65 billion. The transaction meaningfully strengthens Edgewise’s balance sheet, providing enhanced financial flexibility and sharpening the Company’s strategic focus to accelerate and unlock the full potential of its cardiovascular pipeline. Following the closing of the transaction, Edgewise will become a cardiovascular focused company, with a pipeline comprising EDG-7500 for hypertrophic cardiomyopathy, EDG-15400 for HFpEF and EDG-003 for an undisclosed target.
Under the terms of the agreement, Servier will acquire all rights to sevasemten, including related intellectual property, know-how, key agreements, regulatory filings, and clinical data required to operate the muscular dystrophy business. All Edgewise employees who primarily support the muscular dystrophy business will receive a comparable offer at Servier to ensure continuity of development and future commercial execution. The transaction reflects Edgewise’s strategic focus on advancing its cardiovascular portfolio, while positioning sevasemten with an acquirer who brings the global development, regulatory, and commercial capabilities required to fully realize sevasemten’s potential for patients.
“Servier’s focus on precision therapeutics and its dedication to rare neurological and neuromuscular diseases make them the ideal steward for the program,” said Kevin Koch, Ph.D., President and Chief Executive Officer of Edgewise Therapeutics. “This transaction delivers immediate, significant value — including $1.55 billion upfront — while placing sevasemten with an acquirer that has the global scale, patient commitment, and commercial reach to maximize its potential for individuals living with Becker and Duchenne muscular dystrophy. Equally important, this transaction strengthens our balance sheet and provides financial flexibility to advance EDG-7500 and EDG-15400 through key value-inflection points.”
“Edgewise is a pioneer in muscle disease biology with a proven track record of discovering and developing precision therapies for patients with serious neurological conditions,” said Olivier Laureau, President of Servier. “The acquisition of sevasemten and Edgewise’s muscular dystrophy business, including highly experienced talent across research, development, regulatory, and commercial functions, provides an immediate platform to expand our portfolio into Becker and Duchenne muscular dystrophy. In line with our 2030 ambition, this positions us as a major player in neuromuscular indications to serve more patients living with devastating rare diseases.”
Advancing the Cardiovascular Pipeline
Separately, the Company reaffirmed that it plans to report 12-week data from Part D of the CIRRUS-HCM Phase 2 trial of EDG-7500 in the second quarter of 2026. The 12-week Part D data, which will include safety, echocardiographic, biomarker, and patient-reported outcome assessments across both oHCM and nHCM, are expected to inform the Phase 3 design, with initiation targeted for the fourth quarter of 2026. In parallel, Edgewise remains on track to initiate a Phase 2 trial of EDG-15400 in heart failure with preserved ejection fraction (HFpEF), further advancing the Company’s cardiovascular pipeline. Additionally, the Company believes the upfront proceeds from this transaction, combined with its existing cash position, will fully fund EDG-7500 development through potential approval and provide the financial strength to further build and expand its cardiovascular pipeline.
Advisors
Centerview Partners LLC is acting as exclusive financial advisor to Edgewise with Wilson Sonsini Goodrich & Rosati serving as legal counsel.
The transaction is subject to customary closing conditions, including expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The transaction has been unanimously approved by the boards of directors of both Edgewise Therapeutics and Servier. Subject to the satisfaction or waiver of customary closing conditions, Servier and Edgewise expect the transaction to close in the third quarter of 2026.
About Sevasemten
Sevasemten presents a novel mechanism of action designed to selectively limit the exaggerated muscle damage caused by the absence or loss of functional dystrophin. Sevasemten is being studied in late-stage clinical trials in Becker and Duchenne muscular dystrophy. If approved, sevasemten would be the first therapy indicated for Becker muscular dystrophy, a rare, genetic, X-linked neuromuscular disorder that predominantly affects males and for which approximately 12,000 individuals are affected in the U.S., EU-5, and Japan.
Sevasemten has demonstrated sustained disease stabilization in clinical studies spanning more than three years of treatment. In the MESA open-label extension study, participants maintained stable North Star Ambulatory Assessment (NSAA) scores in marked contrast to the functional decline expected from Becker natural history data. Sevasemten has maintained a favorable safety and tolerability profile, with no discontinuations or dose reductions due to adverse events.
Sevasemten has achieved notable regulatory milestones by securing FDA Orphan Drug Designation for the treatment of Becker and Duchenne, Rare Pediatric Disease Designation (RPDD) for the treatment of Duchenne, and Fast Track designations for the treatment of Becker and Duchenne. Further, sevasemten secured the EMA Orphan Drug Designations for the treatment of Becker and Duchenne.
The GRAND CANYON pivotal cohort in Becker is fully enrolled with 175 participants and powered at greater than 98% to deliver a statistically significant difference versus placebo, with top-line data expected in the fourth quarter of 2026.
About Edgewise Therapeutics
Edgewise Therapeutics is a leading muscle disease biopharmaceutical company developing novel therapeutics for muscular dystrophies and serious cardiac conditions. The Company’s deep expertise in muscle physiology is driving a new generation of novel therapeutics. Sevasemten is an orally administered first-in-class fast skeletal myosin inhibitor in late-stage clinical trials in Becker and Duchenne muscular dystrophies. EDG-7500 is a novel cardiac sarcomere modulator for the treatment of symptomatic hypertrophic cardiomyopathy, currently in Phase 2 clinical development. EDG-15400 is a novel cardiac sarcomere modulator for the treatment of heart failure, currently in Phase 1 clinical development. The entire team at Edgewise is dedicated to our mission: changing the lives of patients and families affected by serious muscle diseases. To learn more, go to edgewisetx.com or follow us on LinkedIn, X, Facebook and Instagram.
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding the sale of sevasemten and Edgewise’s muscular dystrophy business to Servier (Transaction), including the Transaction timeline and potential payments which may become owing to Edgewise; the impact and effects of the Transaction on Edgewise’s business and financial position; Edgewise’s cash runway and use of proceeds from the Transaction; the potential of, and expectations regarding, Edgewise’s product candidates and programs, including sevasemten, EDG-7500, EDG-15400 and its cardiovascular programs; statements regarding Edgewise’s expectations relating to its clinical trials, including timing of data (including 12-week data on the CIRRUS-HCM trial and data from the GRAND CANYON trial); statements regarding sevasemten potentially being the first approved therapy for Becker; statements regarding timing of Edgewise’s initiation of a Phase 3 trial of EDG-7500 in HCM and a Phase 2 trial of EDG-15400 in HFpEF; statements regarding Edgewise’s ability to advance its pipeline; and statements by Edgewise’s President and Chief Executive Officer and Servier’s President. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “targets,” “potential” and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based
upon Edgewise’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: uncertainties relating to the timing of the consummation of the Transaction; the possibility that any or all of the conditions to the closing of the Transaction may not be satisfied or waived, including failure to receive required regulatory approvals; the effect of the announcement or pendency of the Transaction on Edgewise’s ability to maintain relationships with suppliers and other business partners; risks relating to potential diversion of management attention away from Edgewise’s ongoing business operations; risks associated with Edgewise’s limited operating history, its product candidates being early in development and not having products approved for commercial sale; risks associated with Edgewise not having generated any revenue to date; Edgewise’s ability to achieve objectives relating to the discovery, development and commercialization of its product candidates, if approved; Edgewise’s substantial dependence on the success of EDG-7500 and EDG-15400; Edgewise’s ability to develop and commercialize EDG-7500 and EDG-15400 and to discover, develop and commercialize other product candidates in its cardiovascular programs, including EDG-003; risks related to Edgewise’s clinical trials of its product candidates not demonstrating safety and efficacy; risks related to Edgewise’s product candidates causing serious adverse events, toxicities or other undesirable side effects; the outcome of preclinical testing and early clinical trials not being predictive of the success of later clinical trials and the risks related to the results of Edgewise’s clinical trials not satisfying the requirements of regulatory authorities; delays or difficulties in the enrollment and/or maintenance of patients in clinical trials; Edgewise’s need for additional capital to finance its operations; risks related to failure to capitalize on other indications or product candidates; risks related to competition; risks relating to interim, topline and preliminary data from Edgewise’s clinical trials changing as more patient data becomes available; risks related to failure to develop a proprietary drug discovery platform; risks related to exposure to additional risk if Edgewise develops programs in connection with other therapies; risks related to production of drugs by Edgewise’s third-party manufacturers; risks related to changes in methods of product candidate manufacturing or formulation; risks related to not achieving adequate market acceptance; risks related to the patient population for its product candidates having a small patient population; risks related to the regulatory approval processes of domestic and foreign authorities being lengthy, time consuming and inherently unpredictable; risks relating to disruptions at the FDA, the SEC and other government agencies; risks relating to Edgewise’s ability to attract and retain highly skilled executive officers and employees; Edgewise’s ability to obtain and maintain intellectual property protection for its product candidates; Edgewise’s reliance on third parties; risks related to future acquisitions or strategic partnerships; risks related to general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled “Risk Factors” in documents that Edgewise files from time to time with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date of this press release, and Edgewise assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
Contacts
Investors:
Behrad Derakhshan, Ph.D., Chief Operating Officer
ir@edgewisetx.com
Media:
Maureen Franco, VP Corporate Communications
media@edgewisetx.com