logo
  

Blueprint Medicines Enters Financing Collaborations With Sixth Street And Royalty Pharma

Blueprint Medicines Corp. (BPMC) announced strategic financing collaborations with Sixth Street and Royalty Pharma (RPRX) for up to $1.25 billion. The company said the financings provide capital to expand and advance its pipeline towards commercialization and to continue pursuing strategic and synergistic business development opportunities. Blueprint Medicines will receive $575 million in total cash funded at close.

The collaboration with Royalty Pharma monetizes royalties receivable from GAVRETO net sales by Roche outside of the US, not including Greater China, with $175 million cash paid to Blueprint Medicines upfront and up to $165 million in potential milestone payments based on future sales.

The agreement with Sixth Street has three parts: $250 million cash upfront in exchange for future AYVAKIT/AYVAKYT and BLU-263 royalties; up to $400 million in a senior secured credit facility, of which Blueprint Medicines will draw $150 million initially with an additional $250 million available in delayed draw tranches at Blueprint Medicines' election; and $260 million in a potential credit facility to support buy-side business development opportunities.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22. ANI Pharmaceuticals, Inc. (ANIP) Monday announced a wider loss for the second quarter, despite a 52 percent surge in revenues. For the full year 2022, the company reiterated the adjusted earnings per share range, revenue guidance and raised Cortrophin revenue outlook. The company reported a quarterly... Shares of BioNTech SE were losing around 4 percent in the morning trading in Germany and around 5 percent in the pre-market activity on Nasdaq after the German Covid-19 vaccine maker reported sharp drop in profit and revenues for the second quarter. However, the company recorded strong growth in first-half results. Further, the company maintained BioNTech COVID-19 vaccine revenue guidance
RELATED NEWS
Follow RTT