Calliditas Therapeutics Acquisition, Valuation, Funding & Investors

Calliditas Therapeutics was acquired by Asahi Kasei for $1.1B in September 2024, a 7.6x multiple on $150M of revenue.

Calliditas Therapeutics acquisition price

$1.1B

Acquired by Asahi Kasei · Sep 2024

Calliditas Therapeutics revenue at acquisition

$150M

Last twelve months · Sep 2024

Calliditas Therapeutics revenue multiple at acquisition

7.6x

EV/Revenue · Sep 2024

Cumulative funding Calliditas Therapeutics raised

$27M

across 2 funding rounds

Calliditas Therapeutics Overview

About Calliditas Therapeutics

Calliditas Therapeutics is a Stockholm-based biopharmaceutical company developing Nefecon, an oral budesonide formulation for IgA nephropathy. Its Phase 3 trial, NefIgArd, met primary endpoints in 2021, positioning the drug for US regulatory approval targeting proteinuric patients.


Founded

1991

HQ

SwedenStockholm

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$150M (Sep 2024)

Valuation

$1.1B (acquired Sep 2024)

Calliditas Therapeutics Acquisition

Calliditas Therapeutics was acquired by Asahi Kasei for $1.1B on 2 September 2024.

The acquisition price implies a 7.6x revenue multiple on $150M of revenue.

Before the acquisition Calliditas Therapeutics had raised $27M across 2 funding rounds.

Calliditas Therapeutics acquisition details
AcquirerDateTypePriceEV/Revenue
  • Asahi Kasei
2 Sep 2024Strategic M&A$1.1B7.6x

Calliditas Therapeutics Funding History

Calliditas Therapeutics has raised a total of $27M across 2 funding rounds.

Calliditas Therapeutics' first fundraising round was a $15M Series C in October 2013. The most recent completed round was a $12M Series A in October 2015.

Calliditas Therapeutics funding rounds

Calliditas Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2015Series A-$12M-
Oct 2013Series CIndustrifonden (lead)$15MCalliditas Therapeutics is a biopharma company focused on novel treatments for orphan indications, particularly renal diseases like IgA nephropathy with lead candidate Nefecon. Industrifonden made an initial investment via a SEK 20 million convertible loan that converted to a 10% equity stake. Industrifonden later increased its ownership stepwise to 33% and facilitated additional investors. In 2013, Investinor joined Industrifonden and founder Bengt Julander to invest in Calliditas, financing completion of the Phase 2b study for Nefecon.

Who has invested in Calliditas Therapeutics?

1 investor has backed Calliditas Therapeutics across its funding rounds, including Industrifonden.

Lead investors include Industrifonden.


Calliditas Therapeutics Investors

Investors in Calliditas Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Calliditas Therapeutics

Calliditas Therapeutics has acquired 1 company to date.

Last acquisition by Calliditas Therapeutics was on August 13th 2020. Calliditas Therapeutics acquired Genkyotex for $35M.


Latest Acquisitions by Calliditas Therapeutics

Genkyotex
Description
Genkyotex is a biotechnology company that develops small-molecule inhibitors targeting NADPH oxidases to treat diseases driven by oxidative stress. Its lead candidate, GKT137831, entered phase 2 clinical trials for primary biliary cholangitis and focal segmental glomerulosclerosis. The company advanced NOX4 and NOX1/4 dual inhibitors into clinical development for fibrotic and inflammatory conditions. Genkyotex focuses on applications in kidney disease, liver fibrosis, and idiopathic pulmonary fibrosis. Based in Geneva, Switzerland, the firm licensed its technology from the French National Centre for Scientific Research. Novartis acquired Genkyotex in 2018 for up to 120 million euros upfront and milestones.
HQ CountrySwitzerland
HQ City
Geneva
Deal Date13 Aug 2020
Valuation$35M
EV/Revenue
EV/EBITDA

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Calliditas Therapeutics Competitors

Calliditas Therapeutics competitors include listed companies like Strides Pharma, MannKind, Cosmo and Seaport Therapeutics, and private ones like La Renon and Antekin Biotech.

Public and private companies comparable to Calliditas Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Strides PharmaIndiaIndiaPublicly listed$483M$104M$1.2B2.4x
MannKindUnited StatesUnited StatesPublicly listed$349M$43M$1.2B3.3x
CosmoSwitzerlandSwitzerlandPublicly listed$120M$13M$1.2B7.8x
Seaport TherapeuticsUnited StatesUnited StatesPublicly listed-($84M)$1.2B-
La RenonIndiaAhmedabadPrivate$180M$38M$1.2B6.5x
Antekin BiotechChinaChengduPrivate--$1.2B-

Calliditas Therapeutics Public Comps

Calliditas Therapeutics is no longer listed, but its public comps include Strides Pharma, MannKind, Cosmo, Seaport Therapeutics, Apnimed, Blue Jet Healthcare, Everest Medicines, Odyssey Therapeutics, Savara and Ribolia.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Strides Pharma$483M$104M2.7x2.4x12.7x12.6x
MannKind$349M$43M3.9x3.3x31.6x-
Cosmo$120M$13M8.0x7.8x76.4x70.8x
Seaport Therapeutics-($84M)--(10.7x)(6.5x)
Apnimed$38M($2M)34.4x-(571.3x)-
Blue Jet Healthcare$98M$37M11.1x9.9x29.7x31.3x
Everest Medicines$254M($72M)4.6x2.9x(16.3x)22.3x
Odyssey Therapeutics$3M($151M)279.0x973.1x(5.5x)(4.8x)

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Common questions about Calliditas Therapeutics

When was Calliditas Therapeutics founded?Calliditas Therapeutics was founded in 1991.
Where is Calliditas Therapeutics headquartered?Calliditas Therapeutics is headquartered in Stockholm, Sweden.
Is Calliditas Therapeutics publicly listed?No, Calliditas Therapeutics was acquired by Asahi Kasei in September 2024.
Who acquired Calliditas Therapeutics?Calliditas Therapeutics was acquired by Asahi Kasei in September 2024.
How much was Calliditas Therapeutics acquired for?Calliditas Therapeutics was acquired for $1.1B in September 2024, a 7.6x revenue multiple.
How much funding has Calliditas Therapeutics raised?Calliditas Therapeutics has raised $27M across 2 funding rounds.
What was Calliditas Therapeutics' last funding round?Calliditas Therapeutics' last funding round was a $12M Series A in October 2015.
Who are Calliditas Therapeutics' investors?Calliditas Therapeutics' investors include Industrifonden.
Which companies are comparable to Calliditas Therapeutics?Companies comparable to Calliditas Therapeutics include Strides Pharma, MannKind, Cosmo, Seaport Therapeutics, La Renon and Antekin Biotech.
How many companies has Calliditas Therapeutics acquired?Calliditas Therapeutics has acquired 1 company, including Genkyotex.
What was the largest acquisition by Calliditas Therapeutics?The $35M acquisition of Genkyotex in August 2020 is the largest acquisition Calliditas Therapeutics has made to date.

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