BridgeBio Pharma Gets Up To $1.25 Bln Of Capital From Blue Owl, CPP Investments

(RTTNews) - BridgeBio Pharma, Inc. (BBIO) announced strategic financing from Blue Owl Capital and Canada Pension Plan Investment Board, through a wholly owned subsidiary of CPPIB Credit Investments Inc., bringing in capital of up to $1.25 billion. The financing includes $500 million in cash from Blue Owl and CPP Investments in exchange for a 5% royalty on future global net sales of acoramidis. It also includes a $450 million credit facility from Blue Owl that refinances existing senior secured credit, extending maturity from 2026 to 2029. The agreement with Blue Owl provides for the possibility of additional incremental facilities of up to $300 million of credit.

Brian Stephenson, CFO of BridgeBio, said: "Our newly strengthened balance sheet will enable us to serve ATTR-CM patients with a well-resourced launch of acoramidis, as well as patients with genetic diseases more broadly with multiple Phase 3 readouts for blockbuster indications anticipated over the next few years."

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