Royalty Pharma plc RPRX and OMERS Capital Markets have announced transactions worth $350 million in new funding in BioCryst Pharmaceuticals Inc BCRX.
- The largest buyer of pharmaceutical royalties globally, Royalty Pharma has purchased royalties for $150 million upfront on combined annual net sales of BCX9930 and another earlier stage Factor D inhibitor.
- Royalty Pharma also purchased royalties, declining percentage on Orladeyo sublicense revenue in certain territories.
- For $150 million upfront, OMERS has purchased a capped, tiered, declining royalty on direct annual net sales of Orladeyo.
- Orladeyo (berotralstat) is indicated to prevent hereditary angioedema attacks in patients 12 years and older.
- Royalty Pharma also has extended its relationship with BioCryst through a $50 million equity investment at $13.00 per share.
- BioCryst will use the investment further to develop BCX9930 in paroxysmal nocturnal hemoglobinuria (PNH), a rare blood disorder.
- BioCryst also has access to an additional $75 million available under an agreement with Athyrium Capital Management, based on Orladeyo revenue milestones.
- The Company will draw $75 million in mid-2022.
- Related Link: BioCryst Stock Jumps After Pulling Out $200M Equity Raise.
- Price Action: BCRX shares are up 3.91% at $12.34 during the market session on the last check Monday.
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