PureTech Health plc is reaping the benefits of the excitement surrounding the schizophrenia candidate KarXT from Karuna Therapeutics, Inc., one of the companies it founded, with the sale of royalty rights that could bring in up to $500m to advance its own pipeline.
PureTech Cashes In On Promise Of Karuna Schizophrenia Drug
Gets $100m Upfront From Royalty Pharma
Karuna’s KarXT could be the first new mechanism for treating schizophrenia approved in more than 50 years and founder PureTech is tapping into that promise by linking up with Royalty Pharma and boosting its cashpile.
More from Deals
• By
The latest in a long line of restructuring measures will see Sumitomo Pharma making a stepped sale of its pharma operations in Asia to major Japanese trading house Marubeni.
• By
Plus deals involving GV20/Mitsubishi Tanabe, Kaken/Alumis, AstraZeneca/Alteogen and deal terminations involving Clover/Gavi Alliance and Rhythm/RareStone.
• By
The obesity market leader has unveiled its second deal in days, paying $75m upfront for a potential first-in-class ACSL5 inhibitor, while the deal also provides some respite for Lexicon.
• By
Plus deals involving Relmada/Trigone, Alvotech/Xbrane, OPKO Health/Entera, iOncologi/TargImmune and more.
More from Business
• By
After failing a Phase II monotherapy study in early Parkinson’s, Cerevance will focus on adjunctive therapy without abandoning the monotherapy concept.
• By
The firm has lofty ambitions for the aldosterone synthase inhibitor to treat hypertension and kidney disease.
• By
Supply chain disruption fears at the start of the COVID-19 pandemic caused drug over-ordering. Imminent tariffs on drugs may have had a similar effect on pharma sales in Q1 earnings season.