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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