Biopharmaceutical royalties buyer Royalty Pharma plc (Nasdaq:RPRX) announced on Thursday that it has acquired a synthetic royalty on US sales of Geron Corporation's (NASDAQ: GERN) RYTELO (imetelstat) for USD125m.
RYTELO is an FDA-approved treatment for low- to intermediate-1 risk myelodysplastic syndromes with transfusion-dependent anaemia. Geron is currently enrolling a Phase 3 trial of imetelstat in myelofibrosis patients who are relapsed/refractory to JAK-inhibitors.
This acquisition increases Royalty Pharma's synthetic royalty funding for 2024 to USD925m.
Royalty Pharma will receive tiered royalty payments on RYTELO's US net sales, ranging from 7.75% of annual net sales up to USD500m, and 3.0% of annual net sales between USD500m and USD1bn, to 1.0% of annual net sales over USD1bn. Payments to Royalty Pharma will cease if the aggregate royalties payable through 30 June 2031 reach a multiple of 1.65 its investment, otherwise the royalty payments will continue until Royalty Pharma receives a multiple of 2.0 its investment.
Correction - DeepHealth expands FDA clearance for SmartMammo Dx with GE HealthCare integration
DeepHealth expands FDA clearance for SmartMammo Dx with GE HealthCare integration
Formosa Pharmaceuticals licenses eye drops for Switzerland and Liechtenstein
Galderma reports Phase III data for nemolizumab in prurigo nodularis published in JAMA Dermatology
AOP Health's Rapiblyk approved by FDA for atrial fibrillation and atrial flutter
PTC Therapeutics to sell Priority Review Voucher for USD150m
Novartis' Kisqali approved in EU for broader population of high-risk early breast cancer patients
Merck reports positive Phase 3 ZENITH results for WINREVAIR in PAH treatment
Alnylam's sNDA for vutrisiran accepted by FDA; PDUFA date set for March 2025
GSK plc announces US FDA acceptance of review for Blenrep combinations in multiple myeloma
Hanmi Pharmaceutical and Beijing Hanmi Pharmaceutical announce progress in BH3120 clinical trial
Johnson & Johnson seeks FDA approval for subcutaneous TREMFYA