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Biocryst Adds $350 Million In New Financing With Royalty Pharma And Omers Capital Markets

Biocryst Adds $350 Million In New Financing With Royalty Pharma And Omers Capital Markets

11/22/21, 7:00 AM
Money raised
$350 million
BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX), Royalty Pharma plc (Nasdaq: RPRX) and OMERS Capital Markets (OMERS), today announced transactions totaling $350 million in new funding for BioCryst, with all funds immediately available at closing.

Company Info

Company
Bio Cryst
Additional Info
Finally, while the company believes its own internal research is reliable, such research has not been verified by any independent source. Having now achieved the defined ORLADEYO revenue milestones in its prior agreement with Athyrium, BioCryst has committed to access the additional $75 million available under the agreement and will draw this $75 million in mid-2022. The new financing enables BioCryst to further advance and expand its Factor D program over the next two years by achieving the following: Complete and report data from the ongoing REDEEM-1 and REDEEM-2 pivotal trials in PNHComplete the renal proof-of-concept (PoC) basket trial in three nephritis indications and advance to pivotal trials in eachCommence PoC trials in other complement-mediated diseasesPrepare to submit regulatory approval filings in PNH Cowen acted as financial advisor to BioCryst on the transaction. BioCryst has several ongoing development programs including BCX9930, an oral Factor D inhibitor for the treatment of complement-mediated diseases, BCX9250, an ALK-2 inhibitor for the treatment of fibrodysplasia ossificans progressiva, and galidesivir, a potential treatment for Marburg virus disease and Yellow Fever. BioCryst’s Forward-Looking StatementsThis press release contains forward-looking statements, including statements regarding BioCryst’s anticipated use of proceeds from the financing transactions described herein and statements regarding other future results, performance or achievements. BioCryst also is pleased to continue its strong partnership with Athyrium Capital Management.