DHT.U Acquires Tavapadon Royalty Rights for $316M After FDA Approval
核心洞察
DRI Healthcare Trust (搜索) has agreed to acquire royalty participation rights on U.S. net sales of tavapadon for an aggregate purchase price of US$316 million.
The deal with Bain Capital (搜索) and NovaQuest Capital Management (搜索) is expected to close only after FDA approval of tavapadon, anticipated in Q3 2026.
Tavapadon is an investigational once-daily oral selective dopamine D1/D5 receptor (搜索) partial agonist studied in Parkinson's disease (搜索) with and without levodopa.
DRI Healthcare Trust (搜索) has entered purchase agreements to acquire royalty participation rights in U.S. net sales of tavapadon from funds managed by Bain Capital (搜索) and NovaQuest Capital Management (搜索). The aggregate purchase price is US$316 million, payable at closing, which is contingent on FDA approval of tavapadon and other customary closing conditions. Tavapadon has been submitted to the FDA for approval, with approval expected in Q3 2026.
Tavapadon is an investigational selective D1/D5 receptor partial agonist developed as a once-daily oral medicine for Parkinson's disease (搜索), studied for use both with and without levodopa. After closing, DRI Healthcare would receive tiered royalties on annual U.S. net sales at combined mid-single digit to low-double digit rates, sales milestone payments on cumulative U.S. net sales thresholds, and four annual fixed payments of US$23.4 million on the first four anniversaries of FDA approval. Aggregate receipts are subject to a contractual hard cap of US$437.5 million.
DRI Healthcare said the acquisition adds a differentiated in-market asset combining fixed payments, commercial milestones and tiered royalties, and cited the unmet need in Parkinson's disease (搜索), a progressive neurological disorder affecting more than 10 million people globally for which no treatment has been shown to slow or halt progression. The trust will host an investor call and webcast on Monday, September 21 at 8:00 a.m. ET.