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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