Royalty Pharma plc announced on November 7, 2024, an agreement to acquire a synthetic royalty on U.S. sales of Geron Corporation’s RYTELO for an upfront cash payment of $125 million. This transaction adds a new asset to Royalty Pharma's diversified portfolio.
RYTELO received U.S. Food and Drug Administration (FDA) approval in June 2024 for the treatment of certain adult patients with low- to intermediate-1 risk myelodysplastic syndromes (LR-MDS) with transfusion-dependent (TD) anemia. The National Comprehensive Cancer Network (NCCN) Guidelines were also updated to include imetelstat, the active ingredient in RYTELO, as a Category 1 and 2A treatment.
Under the terms, Royalty Pharma will receive tiered royalty payments on U.S. net sales of RYTELO, starting at 7.75% for annual net sales up to $500 million. This investment is expected to fuel Geron's commercial and development opportunities while providing Royalty Pharma with attractive returns.
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