Immedica completes acquisition of Neurocrine Group Limited, Neurocrine Biosciences' European rare commercial business

Portfolio includes global rights to Alkindi® (hydrocortisone) and global rights ex-US to Efmody® (hydrocortisone modified-release)

Stockholm, Sweden  – January 21, 2026  – Immedica Pharma AB today announced that it has completed the acquisition of Neurocrine Group Limited and subsidiaries (NGL; formerly known as Diurnal Group) from Neurocrine Biosciences.

The acquisition includes the global rights to Alkindi® (hydrocortisone oral granules) and the assets and global rights excluding the United States of America to Efmody® (hydrocortisone modified-release hard capsules). The products are established orphan therapies for the treatment of adrenal insufficiency (AI) and congenital adrenal hyperplasia (CAH).

The transaction was completed in accordance with the terms announced on January 8, 2026, with a total consideration of USD 65 million, payable in cash at closing.

Advisors
Gibson, Dunn & Crutcher LLP acted as legal counsel and Fuchs Patentanwälte Partnerschaft mbB acted as intellectual property counsel to Immedica on this transaction.

About Adrenal Insufficiency (AI) and congenital adrenal hyperplasia (CAH)
AI is a rare endocrine disorder in which the body’s adrenal glands are unable to produce sufficient cortisol, a hormone essential for metabolic function and the physiological response to stress. Congenital adrenal hyperplasia (CAH) is a genetic form of primary adrenal insufficiency caused by enzyme defects in cortisol synthesis. The overall prevalence of adrenal insufficiency is estimated at approximately 41 per 100,000 people, of which around 7 per 100,000 are attributable to CAH and approximately 34 per 100,000 to non-CAH forms. Common daily symptoms include fatigue, low blood pressure, nausea, and reduced tolerance to physical and psychological stress. Treatment focuses on maintaining physiological cortisol levels to prevent acute adrenal crises, which can be life-threatening. Glucocorticoid replacement therapy, with hydrocortisone as the standard of care, is the cornerstone of treatment, with most patients requiring lifelong therapy.

About Alkindi ® (hydrocortisone oral granules).
Alkindi is a patented, oral, immediate-release pediatric formulation of hydrocortisone granules in capsules for opening that allows for age-appropriate precise dosing in children. This therapeutic approach has the potential to help young patients less than eighteen years of age suffering from adrenal insufficiency, including AI related to CAH.

About Efmody® (hydrocortisone modified-release hard capsules)
Efmody is a modified-release preparation of hydrocortisone that has been specifically designed to replicate the natural circadian rhythm of cortisol when given in a twice-a-day "toothbrush" regimen (last thing at night before sleep and first thing in the morning on waking) and can thus provide a more physiological profile in in adolescents aged 12 years and over and adults with CAH. Efmody also reduces excess androgens in patients with CAH.

About Immedica
Immedica is a pharmaceutical company, headquartered in Stockholm, Sweden, focused on the commercialization of medicines for rare diseases and specialty care products. Immedica’s capabilities cover marketing and sales, compliance, pharmacovigilance, quality assurance, regulatory, medical affairs and market access, as well as a global distribution network serving patients in more than 50 countries. Immedica is fully dedicated to helping those living with diseases which have a large unmet medical need. Immedica’s therapeutic areas are within RARE metabolic, RARE hematology & oncology, RARE neurology and specialty care. Immedica was founded in 2018 and employs today around 180 people across Europe, the Middle East and the United States. Immedica is backed by the investment firms KKR and Impilo.

For more information visit www.immedica.com.

Immedica contact:
Linda Holmström
Head of HR & Communications
[email protected]