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- Royalty Pharma plc (NASDAQ: RPRX) has acquired Dicerna Pharmaceuticals Inc's (NASDAQ: DRNA) royalty interest in Oxlumo (lumasiran) for an upfront cash payment of $180 million and up to $60 million in contingent sales-based milestone payments.
- The FDA and European Medicines Agency have approved Oxlumo (EMA) for the treatment of primary hyperoxaluria (PH) type 1 and is marketed by Alnylam Pharmaceuticals Inc (NASDAQ: ALNY).
- Dicerna became entitled to royalties on worldwide net product sales of Oxlumo as part of a 2020 non-exclusive intellectual property cross-license agreement between Dicerna and Alnylam related to the companies' PH programs.
- Dicerna is entitled to royalties in the mid to high single digits based on OXLUMO global net sales.
- This transaction, together with Dicerna's cash, cash equivalents, held-to-maturity investments, and anticipated milestone and other payments from existing collaborations, is expected to extend Dicerna's projected cash runway and be sufficient to fund the execution of its current clinical and operating plan into 2024.
- Price Action: DRNA shares closed 1.5% lower at $25.75 on Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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