Investment firm that purchases rights to royalties on future drug sales rather than developing, manufacturing or selling drugs itself; it claims partial rights to 7 of the top 30 selling drugs in the United States. Note: this is a pharmaceutical royalty investment company, not a drug developer or manufacturer.
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Founded
1996
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- Teva Pharmaceuticals and Royalty Pharma announced a $500 million funding agreement to accelerate development of TEV-'408, an anti-IL-15 monoclonal antibody for vitiligo treatment. - The agreement includes $75 million for Phase 2b studies starting in 2026, with an option for an additional $425 million to fund Phase 3 development based on results. - TEV-'408 targets IL-15, a key cytokine in immune-mediated pathways, and is currently in Phase 1b trials for vitiligo and Phase 2a for celiac disease. - Vitiligo affects 0.5% to 2% of the global population with limited treatment options, as only one topical therapy is approved for up to 10% body surface area coverage.
- Royalty Pharma acquired the final portion of PTC Therapeutics' royalty interest in Evrysdi for $240 million upfront plus up to $60 million in sales-based milestones. - The acquisition gives Royalty Pharma 100% ownership of the tiered 8% to 16% royalty on Roche's Evrysdi, which generated $1.9 billion in 2024 sales. - Evrysdi, an oral treatment for spinal muscular atrophy, has treated over 21,000 patients worldwide since FDA approval in 2020. - Analyst consensus projects Evrysdi sales to reach $2.9 billion by 2030, with the tiered royalty structure providing increasing returns as sales grow.
- Bristol Myers Squibb's Breyanzi received FDA approval for treating relapsed or refractory marginal zone lymphoma, becoming the first cell therapy available for this rare lymphatic tumor. - The approval represents Breyanzi's fifth indication and addresses a significant unmet need in marginal zone lymphoma, which accounts for approximately 7% of all B-cell non-Hodgkin lymphoma cases. - Breyanzi has demonstrated strong commercial performance with $747 million in sales in 2024 and $966 million over the first nine months of 2025.
- Denali Therapeutics and Royalty Pharma announced a $275 million synthetic royalty funding agreement based on future sales of tividenofusp alfa, an investigational enzyme replacement therapy for Hunter syndrome. - The therapy utilizes Denali's proprietary TransportVehicle platform to cross the blood-brain barrier and is currently under FDA review for accelerated approval with a PDUFA target date of April 5, 2026. - Under the agreement, Royalty Pharma will pay $200 million at closing and an additional $75 million upon European approval, receiving a 9.25% royalty on worldwide net sales. - The deal validates the potential of tividenofusp alfa to address significant unmet needs in both cognitive and physical manifestations of Hunter syndrome.
- Vaximm has signed a non-binding term sheet with Swiss investor BCM Europe for a potential exclusive worldwide license of its oral cancer immunotherapy platform VXM01, with deal terms including $20 million upfront and up to $815 million in milestone payments. - The agreement includes a six-month exclusivity period for negotiations and due diligence, with BCME serving as a financial intermediary to fund development and secure partnerships with major pharmaceutical companies. - The collaboration allows Vaximm to retain full intellectual property ownership while accelerating global development and commercialization of VXM01, an oral T-cell immunotherapy designed to stimulate immune responses against cancer cells. - The partnership incorporates innovative blockchain-based royalty participation mechanisms using TAC tokens, reflecting modern financing models similar to those employed by Blackstone Life Sciences and Royalty Pharma.
- Vaximm AG has entered a non-binding term sheet with BCM Europe AG for exclusive global licensing rights to VXM01, its first-in-class oral cancer immunotherapy platform. - The proposed deal structure includes $20 million upfront payment and up to $815 million in clinical, regulatory, and commercial milestone payments. - VXM01 employs a proprietary oral T-cell vaccination approach using live, attenuated bacterial vectors to deliver tumor-associated antigens targeting VEGFR-2. - The six-month exclusivity period allows both parties to finalize a definitive licensing agreement while Vaximm retains full intellectual property ownership.
- Royalty Pharma acquired a 1% royalty interest in Alnylam's AMVUTTRA from Blackstone Life Sciences for $310 million, extending through March 2035. - AMVUTTRA is an FDA-approved RNAi therapeutic for ATTR amyloidosis that achieved approximately $1 billion in sales in 2024 with 74% year-over-year growth. - The drug treats both hereditary TTR amyloidosis with polyneuropathy and TTR amyloidosis with cardiomyopathy, addressing a significant unmet medical need. - Analyst consensus projects AMVUTTRA sales to exceed $6 billion by 2028, highlighting the substantial market opportunity for this breakthrough therapy.
- Zenas BioPharma has acquired three experimental autoimmune medicines from China's InnoCare Pharma, including orelabrutinib for multiple sclerosis that has already entered Phase 3 testing. - The deal includes up to $100 million in upfront payments and could reach over $2 billion total value for InnoCare, reflecting the growing trend of U.S. companies licensing Chinese drug innovations. - Zenas secured additional $120 million financing to fund operations through Q4 2026, while planning to initiate a second Phase 3 trial for orelabrutinib in secondary progressive multiple sclerosis next year.
- Zenas BioPharma and Royalty Pharma announced a $300 million funding partnership to advance obexelimab development for IgG4-Related Disease and other autoimmune conditions. - The deal includes an initial $75 million payment with additional milestone-based payments tied to Phase 3 INDIGO trial results and FDA approvals for IgG4-RD and SLE. - Obexelimab is a bifunctional monoclonal antibody targeting CD19 and FcγRIIb that inhibits B cell function without depleting cells, representing a novel approach to autoimmune disease treatment. - The funding supports potential commercial launch in the first half of 2027 and extends Zenas' cash runway through Q1 2027, with key trial readouts expected by year-end 2025.
- Royalty Pharma acquired BeOne Medicines' royalty rights to IMDELLTRA (tarlatamab-dlle) for up to $950 million, with $885 million paid upfront and an option for additional $65 million within 12 months. - IMDELLTRA is a first-in-class DLL3-targeting bispecific T-cell engager approved for extensive-stage small cell lung cancer patients who progressed after platinum-based chemotherapy. - The drug generated $215 million in sales during the first half of 2025 and is projected to exceed $2.8 billion by 2035 according to analyst consensus. - BeOne retains China commercial rights and will share in royalties on annual sales above $1.5 billion, while maintaining rights to other collaboration assets including xaluritamig.
