Brief: Heidelberg Pharma Announces Receipt of Cash Payment after Closing of Royalty Purchase Agreement with Healthcare Royalty

Heidelberg Pharma AG

19/03/2024 08:52

March 19 (Reuters) - Heidelberg Pharma AG  HPHA.DE :
    * EQS-NEWS: HEIDELBERG PHARMA ANNOUNCES RECEIPT OF
NON-REFUNDABLE
UPFRONT CASH PAYMENT FOLLOWING THE SUCCESSFUL CLOSING OF ITS
ROYALTY PURCHASE AGREEMENT WITH HEALTHCARE ROYALTY
    * UNDER TERMS OF AGREEMENT, HEIDELBERG PHARMA HAS RECEIVED
AN
UPFRONT, NON-REFUNDABLE CASH PAYMENT OF USD 25 MILLION
    * IS FURTHERMORE ELIGIBLE TO RECEIVE UP TO USD 90 MILLION IN
TOTAL
FROM PARTIAL SALE OF ITS FUTURE ROYALTIES ON WORLDWIDE SALES OF
ZIRCAIX
    * WILL UTILIZE THIS FUNDING TO FURTHER ADVANCE ITS
PROPRIETARY
TOOLBOX OF NOVEL PAYLOADS AND FIRST-IN-CLASS AMANITIN-BASED
ANTIBODY CONJUGATE PIPELINE

Source text for Eikon:  ID:nEQcfSrLxa 
Further company coverage:  HPHA.DE 

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