La Jol­la grabs $125M roy­al­ty deal to back drug launch, fund R&D

La Jol­la Phar­ma­ceu­ti­cals $LJPC has land­ed $125 mil­lion to back its roll­out of Gi­apreza, a new drug for dan­ger­ous­ly low blood pres­sure that was green-light­ed by the FDA late last year.

The mon­ey is com­ing from Health­Care Roy­al­ty Part­ners, which gets a roy­al­ty rate that starts off with the 10% max­i­mum and then scales down on rev­enue. Then at the be­gin­ning of 2022 and 2024 the rate can jump 4% at each turn if La Jol­la’s sales team isn’t meet­ing goals.

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