Operator

Good day, everyone, and welcome to the Hansa Biopharma Conference Call. [Operator Instructions] Please also note today's event is being recorded.

At this time, I'd like to turn the floor over to Hansa Biopharma CEO, Renee Aguiar-Lucander. Ma'am, please go ahead.

Renee Aguiar-Lucander
Chief Executive Officer

Thank you very much, and welcome to this call covering Hansa's out-licensing of Idefirix in Europe and MENA to SERB. Next page, please. Just want to draw your attention to the fact that we'll be making forward-looking statements during the presentation, and you should therefore apply appropriate caution. Next slide, please.

So in today's conference, we will just have a basic transaction overview, followed by a brief financial update and a close in a Q&A. Next slide, please.

So the transaction background, I'd like to just cover that briefly before we go into the transaction details. Obviously, Europe does represent a significant market opportunity as reflected by today's announcement. However, Europe is also a fragmented market, making scale challenging for a single asset rare disease-focused biotech. And so this partnering really enables a broader, much more commercially consistent reach across the European markets. And also, really importantly, I think, maximizes the potential for appropriate patients in Europe to truly benefit from