Royalty Pharma Acquires Ionis' Royalty In Spinraza, Pelacarsen For $1.125 Bln

(RTTNews) - Ionis Pharmaceuticals, Inc. (IONS) Monday announced that Royalty Pharma Plc (RPRX) has acquired an interest in Ionis' royalty in Biogen's Spinraza and Novartis' pelacarsen for up to $1.125 billion.

The deal includes an upfront payment of $500 million and up to $625 million in additional pelacarsen milestone payments.

Spinraza is the global foundation of care for the treatment of people living with spinal muscular atrophy.

Ionis retains a majority interest in Spinraza and pelacarsen royalties.

As per the terms of the monetization transaction, Royalty Pharma will receive 25 percent of Ionis' Spinraza royalty payments through 2027, increasing to 45% of royalty payments in 2028, on up to $1.5 billion in annual sales.