Zevra Therapeutics has announced a significant financial transaction, entering into a definitive asset purchase agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for $150 million. The deal represents a major milestone for the company following its recent therapeutic advancement in rare disease treatment.
The PRV was initially granted to Zevra in September 2024 after receiving FDA approval for MIPLYFFA, a breakthrough therapy for Niemann-Pick disease type C (NPC). This novel treatment is specifically indicated for use in combination with miglustat to address neurological manifestations in both adult and pediatric patients, provided they are 2 years of age or older.
Strategic Transaction Details
The transaction is anticipated to close within a 30 to 45-day timeframe, pending satisfaction of customary closing conditions. A key requirement for completion includes the expiration of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act, ensuring compliance with regulatory requirements.
Financial and Advisory Support
To facilitate this significant transaction, Zevra Therapeutics has enlisted the expertise of prominent financial and legal advisors. Cantor Fitzgerald has served as the exclusive financial advisor for the deal, while Latham & Watkins LLP has provided legal counsel throughout the transaction process.
Therapeutic Context
MIPLYFFA's approval represents a significant advancement in treating Niemann-Pick disease type C, a rare genetic disorder that affects lipid metabolism and can cause severe neurological symptoms. The combination therapy approach with miglustat offers a new treatment option for patients suffering from this devastating condition, addressing an important unmet medical need in the rare disease space.
The sale of the PRV demonstrates the significant value created through the development and approval of treatments for rare pediatric diseases, while also providing Zevra with substantial capital for future therapeutic development initiatives.
