Revolution Medicines, Inc. announced on June 24, 2025, a partnership with Royalty Pharma for $2 billion in flexible funding to support its global development and commercialization strategy for its RAS(ON) inhibitor portfolio. This agreement allows Revolution Medicines to retain full strategic and executional control over its product development and commercialization efforts in the U.S. and internationally.
The funding package comprises up to $1.25 billion in synthetic royalty monetization on sales of daraxonrasib, the company’s RAS(ON) multi-selective inhibitor, and up to $750 million in corporate debt. A significant portion, $1.25 billion, is optional at the company's discretion, subject to achieving specific milestones.
The first debt tranche of $250 million will be available upon the first FDA approval of daraxonrasib for metastatic PDAC, if it occurs by January 1, 2028. This agreement significantly increases the financial resources available to Revolution Medicines, leading the company to remove its previous cash runway end date guidance, indicating a substantially extended financial horizon.
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