Brief: PureTech Health Enters Into KarXT Royalty Agreement With Royalty Pharma For Up To $500 Mln

Royalty Pharma

23/03/2023 07:44

March 23 (Reuters) - PureTech Health PLC  PRTC.L :
    * PURETECH HEALTH AND ROYALTY PHARMA ENTER INTO KARXT
ROYALTY
AGREEMENT FOR UP TO $500 MILLION
    * PURETECH HEALTH AND ROYALTY PHARMA ENTER INTO KARXT
ROYALTY
AGREEMENT FOR UP TO $500 MILLION
    * ROYALTY PHARMA HAS ACQUIRED AN INTEREST IN PURETECH'S
ROYALTY IN
KARUNA THERAPEUTICS' KARXT
    * ROYALTY PHARMA AND PURETECH WILL SHARE IN ROYALTIES ABOVE
CERTAIN ANNUAL SALES THRESHOLDS
    * RETAINS ITS CURRENT EQUITY STAKE IN KARUNA IN ADDITION TO
MILESTONE PAYMENTS AND 20% OF SUBLICENSE REVENUES DUE TO
PURETECH
    * RETAINS ITS 3.1% EQUITY OWNERSHIP IN KARUNA
    * UNDER LICENSE AGREEMENT WITH KARUNA, CO RETAINS RIGHT TO
RECEIVE
MILESTONE PAYMENTS UPON ACHIEVEMENT OF CERTAIN REGULATORY
APPROVALS & 20% OF SUBLICENSE INCOME

Source text for Eikon:  ID:nBw1lyhsKa 
Further company coverage:  PRTC.L 

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