BioCryst Shares Gain As Royalty Pharma Buys Additional Interests In BCX9930, Orladeyo

BioCryst Shares Gain As Royalty Pharma Buys Additional Interests In BCX9930, Orladeyo

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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