EYPT - EyePoint Pharma reports $16.5M monetization of Iluvien royalty with SWK Holdings

EyePoint Pharmaceuticals (EYPT) announces a royalty monetization agreement with SWK Holdings (SWKH) for royalties payable to EYPT under its license agreement with Alimera Sciences (ALIM) for ILUVIEN.EyePoint has received a one-time $16.5M payment from SWK and, in return, SWK is entitled to receive future royalties payable to EyePoint from the Alimera agreement. EyePoint has applied $15M of net proceeds from the transaction against existing long-term debt obligations with CRG Servicing. The remaining $1.5M will be used to advance product pipeline programs.The transaction will also result in a reduction of annual interest payments of ~$1.7M.

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EyePoint Pharma reports $16.5M monetization of Iluvien royalty with SWK Holdings