Io­n­is sells par­tial stake in roy­al­ties from Spin­raza and No­var­tis car­dio drug to Roy­al­ty Phar­ma for $500M up­front

Io­n­is is sell­ing per­cent­ages of its roy­al­ties in Bio­gen’s Spin­raza and po­ten­tial roy­al­ties in No­var­tis’ pelacarsen to Roy­al­ty Phar­ma in ex­change for $500 mil­lion cash, it an­nounced Mon­day morn­ing.

The deal could to­tal $1.125 bil­lion, de­pend­ing on what mile­stones pelacarsen reach­es.

The cash will pri­mar­i­ly be used for Io­n­is’ com­mer­cial prepa­ra­tions for three late-stage pro­grams: eplon­ter­sen, olezarsen and donidalors­en, ac­cord­ing to a state­ment from Io­n­is CEO Brett Mo­nia. Io­n­is and As­traZeneca are part­nered on eplon­ter­sen, where they hope to chal­lenge Al­ny­lam in AT­TR amy­loi­do­sis with polyneu­ropa­thy fol­low­ing a Phase III read­out last year.

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