RPRX - Royalty Pharma to Acquire Royalty Interest in Sanofi's Frexalimab | Benzinga
- Frexalimab is in Phase 3 development by Sanofi in multiple sclerosis with multi-blockbuster potential in a wide range of immune-mediated diseases
- Expands Royalty Pharma's development-stage portfolio to 15 therapies with the combined potential to generate significantly greater than $1 billion in annual peak royalties
- Royalty Pharma to highlight the strength of its development-stage pipeline on its first quarter of 2024 financial results call today at 8:00 a.m.
NEW YORK, May 09, 2024 (GLOBE NEWSWIRE) -- Royalty Pharma plc (NASDAQ:RPRX) announced today that it will acquire royalties and milestones on frexalimab owned by ImmuNext, Inc. (ImmuNext) for approximately $525 million in cash including estimated transaction costs. ImmuNext, a privately-held biotechnology company, is entitled to a royalty on net sales of frexalimab and milestones related to the achievement of regulatory and clinical events and commercial sales.
Frexalimab, in development by Sanofi, is a first-in-class, second generation anti-CD40 ligand monoclonal antibody. Frexalimab is in three Phase 3 clinical studies for the treatment of multiple sclerosis (MS). Phase 2 clinical studies for systemic lupus erythematosus and Type 1 Diabetes are ongoing. Sanofi stated that potential non-risk-adjusted peak sales for frexalimab may be greater than €5 billion (December 7, 2023 R&D Day). Sanofi anticipates filing a biologics license application (BLA) for relapsing multiple sclerosis with the U.S. Food & Drug Administration in 2027. Worldwide sales of MS therapies amounted to approximately $25 billion in 2023 according to IQVIA.
Pablo Legorreta, Royalty Pharma's founder and Chief Executive Officer said, "This transaction will expand our attractive and growing development-stage portfolio with a next-generation immunology therapy. Frexalimab has the potential to achieve high efficacy without the chronic depletion of the immune system commonly associated with currently available MS therapies. In light of frexalimab's exciting Phase 2 study results in MS and its significant potential in a wide range of immune-mediated diseases, we believe frexalimab is a potentially transformative therapy for patients."
Following this transaction, Royalty Pharma will have 15 therapies in its development-stage portfolio, 11 of which will be in Phase 3 development or undergoing regulatory review. In aggregate, on a non-risk adjusted basis, Royalty Pharma's development-stage pipeline will have the potential to generate combined peak ...