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Blueprint Medicines Signs $1.25B Agreement with Sixth Street & Royalty Pharma in Exchange for Royalties of Ayvakit and Gavreto

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Blueprint Medicines Signs $1.25B Agreement with Sixth Street & Royalty Pharma in Exchange for Royalties of Ayvakit and Gavreto

Blueprint Medicines Signs $1.25B Agreement with Sixth Street & Royalty Pharma in Exchange for Royalties of Ayvakit and Gavreto

Shots:

  • The collaboration stated that the financings help to advance innovative precision therapy pipeline through internal R&D & strategic business development along with the launch of Ayvakit/Ayvakyt & Gavreto
  • Blueprint will receive $250M up front from Sixth Street for future royalties from Ayvakit & BLU-263 at a rate of 9.75% with an annual cap of $900M in net sales & cumulative cap of 1.45 times the invested capital; $150M of a $400M senior secured credit facility will be drawn by Blueprint initially with the remaining $250M in delayed draw tranches at Blueprint's election; $260M credit facility for buy-side business development opportunities
  • Royalty pharma has acquired an Ex-US royalty on Roche's sales of Gavreto (Ex- greater China) & Blueprint to receive $575M incl. $175M up front & $165M in milestones on future sales. Gavreto has been submitted for marketing approval for thyroid cancers in the EU with an expected decision in H2’22

Ref: PR Newswire | Image: Blueprint

Click here to­ read the full press release 

Neha

Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.

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