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Finance Watch: Arteaus Comes Full Circle As Investors Monetize Emgality Royalties

 
• By Mandy Jackson and Kevin Grogan

Arteaus sells royalty stream from Lilly's Emgality giving investors a $260m payday. Also, Pfizer spin-out SpringWorks nabs another $125m, Arch Oncology and Prevail Therapeutics close $50m Series B rounds, and Karuna's recent financing grows to $80m.

Finance Watch

The 2011 start-up Arteaus Therapeutics LLC, funded by Atlas Venture and OrbiMed, has generated a return more than 16 times the original $18m the venture capital firms invested in the company now that royalties from the Eli Lilly & Co. migraine therapy Emgality (galcanezumab) have been sold to Royalty Pharma for $260m.

Arteaus was established with a $18m Series A funding round to develop the Lilly-discovered calcitonin gene-related peptide (CGRP) inhibitor galcanezumab...

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