2024-01-02 06:35:54 ET
MannKind ( NASDAQ: MNKD ) has sold a 1% royalty in net sales of Tyvaso DPI (treprostinil) inhalation powder to Sagard Healthcare in exchange for up to $200M as part of a royalty purchase deal .
The biopharmaceutical firm is entitled to a 10% royalty on net sales of Tyvaso DPI, subject to certain reductions, as part of a license deal signed with United Therapeutics ( UTHR ) in 2018.
United Therapeutics ( UTHR ) licensed Tyvaso DPI from MannKind ( MNKD ) and began marketing it in June 2022 for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease following FDA approval.
Pursuant to the newly signed royalty purchase agreement, Sagard acquired a 1% royalty in Tyvaso DPI net sales occuring between October 1, 2023 and December 31, 2042, with MannKind ( MNKD ) retaining a 9% royalty.
MannKind ( MNKD ) received $150M in upfront payment and is entitled to an additional potential milestone payment of up to $50M.
Shares of MannKind ( MNKD ) were up 1.37% premarket on Tuesday
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MannKind, Sagard Healthcare enter $200M royalty purchase deal