Roy­al­ty Phar­ma hands off $100M up­front for PureTech roy­al­ty on Karuna's schiz­o­phre­nia hope­ful

The com­pa­ny that spun out Karuna is cash­ing in on a $500 mil­lion deal with Roy­al­ty Phar­ma, just days af­ter the biotech rolled out pos­i­tive late-stage da­ta and a nine-fig­ure raise.

PureTech Health an­nounced Thurs­day that Roy­al­ty Phar­ma, the com­pa­ny helmed by Pablo Legor­re­ta that buys roy­al­ty streams, got its hands on part of PureTech’s roy­al­ty in Karuna Ther­a­peu­tics’ schiz­o­phre­nia can­di­date KarXT, which com­bines for­mer Eli Lil­ly can­di­date xanome­line with tro­spi­um.

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