Triangle biopharma raises $350M in funding through two deals

https://www.wraltechwire.com/2021/11/22/triangle-biopharma-raises-350m-in-funding-through-two-deals/Triangle biopharma raises 0M in funding through two deals


DURHAM – BioCryst Pharmaceuticals (Nasdaq: BCRX) has landed $350 million in cash through two deals that the company says positions it for the global launch of one drug and advancement of another.

Separate deals with Royalty Pharma and OMERS Capital Markets provide the cash infusion.

The company’s ORLADEYO® (berotralstat) is a treatment for hereditary angioedema, or HAE, a rare genetic condition that causes swelling under the skin and lining of the gut and lungs as defined by WebMD.

BioCryst also plans “further development” of a compound called BCX9930.

“The focused execution of our plan this year, with the successful launch of ORLADEYO and the rapid advancement of BCX9930, has led to further investment from exceptional and committed partners like Royalty Pharma and Athyrium, and new investment from OMERS. The infusion of $350 million on top of our growing revenue base from ORLADEYO, and our existing cash, enables us to invest now to maximize the value of our oral Factor D program and ORLADEYO. We appreciate the confidence our partners are demonstrating in BioCryst with this financing as we continue to bring oral medicines to patients with rare diseases,” said Jon Stonehouse, chief executive officer of BioCryst, in a statement.

BioCryst also plans to draw on $75 million committed by Athyrium Capital Management next year.

Editor’s Note: An earlier version of this story misspelled the name of the investors in the deal and the word “angioedema.”  This story has been updated.





Source link

About the Author

Kassie Hoffman
Kassie pens down all the news from the world of politics on ANH.