Royalty Pharma Acquires Royalty On US Net Sales Of Ferring' Adstiladrin For Up To $500 Mln

(RTTNews) - Royalty Pharma plc (RPRX) said it has acquired a synthetic royalty on US net sales of Ferring Pharmaceuticals' Adstiladrin or nadofaragene firadenovec-vncg for up to US$500 million comprised of an upfront payment of US$300 million and a US$200 million milestone payment.

The milestone payment is contingent on certain manufacturing goals that are expected to be achieved in 2025 for the FDA-approved intravesical gene therapy that Ferring will make available next month through an early experience program for the treatment of adult patients with high-risk, Bacillus Calmette-Guérin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS) with or without papillary tumors.

As per the terms of the deal, Royalty Pharma will acquire a 5.1% percentage royalty on net sales of Adstiladrin in the United States, which will increase to 8.0% upon payment of the manufacturing-related milestone. The royalty is expected to end in the early to mid-2030s.