BridgeBio Pharma Secures $300 Mln For Part Of BEYONTTRA European Royalty Sale

(RTTNews) - BridgeBio Pharma, Inc. (BBIO), Monday announced the sale of a certain portion of royalties from sales of BEYONTTRA in Europe to HealthCare Royalty funds managed by Blue Owl Capital for $300 million.

BEYONTTRA is an orally administered near-complete stabilizer of transthyretin indicated for the treatment of wild-type or variant transthyretin amyloidosis in adult patients with cardiomyopathy.

The transaction involves the sale of 60 percent of royalties on the first $500 million of annual BEYONTTRA net sales in Europe with an initial cap of 1.45x.

Last year, the company entered into an exclusive licensing agreement with Bayer Consumer Care AG to commercialize BEYONTTRA in Europe, receiving an upfront payment of $210 million and expecting to receive $75 million in near-term milestone payments.

In the pre-market hours, BBIO is trading at $44.40, down 1.03 percent on the Nasdaq.