Cy­to­ki­net­ics chief Blum grabs $100M roy­al­ty deal to fund an ex­pand­ed mar­ket­ing plan for PhI­II heart drug

Cy­to­ki­net­ics CEO Robert Blum has struck a $100 mil­lion deal for a piece of the prospec­tive roy­al­ty stream for their heart drug ome­cam­tiv mecar­bil, which he in turn will use to fund a por­tion of the Phase III study now un­der­way at Am­gen while lever­ag­ing co-pro­mo­tion rights in the US.

Roy­al­ty Phar­ma is pay­ing $90 mil­lion up­front in ex­change for dibs on a 4.5% roy­al­ty stream on ome­cam­tiv mecar­bil. And they’re throw­ing in an­oth­er $10 mil­lion to buy a piece of eq­ui­ty in Cy­to­ki­net­ics.

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