Dechert LLP advised Royalty Pharma on the deal.
Royalty Pharma, a buyer of biopharmaceutical royalties, enter into a royalty purchase agreement with PTC Therapeutics, Inc. to acquire a portion of PTC’s royalty interest in Risdiplam, an investigational, orally administered survival motor neuron-2 (SMN2) splicing modifier for the treatment of spinal muscular atrophy.
Under the terms of the agreement, PTC Therapeutics will receive US$650 million in cash from Royalty Pharma in return for approximately 43% of the Risdiplam royalties, up to a specified amount.
Royalty Pharma funds innovation in the biopharmaceutical industry through partnerships with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, as well as through acquisitions of existing royalties from the original innovators.
PTC is a science-led, patient-centered biopharmaceutical company focused ondiscovering, developing and commercializing medicine for patients with raredisease.
The Dechert team advising Royalty Pharma included intellectual property partner Carl A. Morales, Ph.D. (New York; Picture), intellectual property associate Blaine M. Hackman, Ph.D. (New York) and patent agents Michael G. Manas, Ph.D. (Boston) and Todd Macklin, Ph.D. (New York).
Law Firms: Dechert;
Clients: Royalty Pharma;