REGENXBIO to monetize portion of Zolgensma royalties for $200M

 

• REGENXBIO (NASDAQ:RGNX) enters into an agreement to sell a portion of the royalty rights from Novartis Gene Therapies from the net sales of Zolgensma to entities managed by Healthcare Royalty Management.
• Gross purchase price of $200M.
• "Our rapidly advancing internal pipeline has enabled us to broaden the potential impact that gene therapies can have for patients in both large and orphan indications. This agreement with HCR provides us with significant additional non-dilutive funding to continue our momentum in the clinic focused on RGX-314 and our rare neurodegenerative disease platform, including RGX-121, as well as the opportunity to develop new innovations for patients in other disease areas. The capital will continue to support our pipeline transition into late-stage development and the establishment of internal manufacturing facilities with 2,000 liter scale using our platform suspension cell culture process for emerging commercial requirements, so that we can continue to work towards our mission of improving the lives of patients." said Kenneth T. Mills, President and CEO.
• https://seekingalpha.com/news/3646833-regenxbio-to-monetize-portion-of-zolgensma-royalties-for-200m