Royalty Pharma plc announced a significant acquisition of Agios Pharmaceuticals’ royalty interest on the drug vorasidenib for $905 million, contingent upon FDA approval. Vorasidenib, which is being developed as a treatment for IDH-mutant glioma, has displayed notable efficacy and safety in its Phase 3 clinical trials. The FDA has granted priority review with a decision expected by August 20, 2024. Royalty Pharma anticipates that vorasidenib, upon approval, will exceed sales of $1 billion annually and generate over $150 million in yearly royalties. The agreement includes various royalty rate stipulations based on sales milestones. Legal advisory for the deal was provided by Goodwin Procter LLP and Fenwick & West LLP.
Biopharmaceuticals, Private Equity,United States
Royalty Pharma and Agios Pharmaceuticals Enter Into Vorasidenib Royalty Agreement for $905 Million