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BridgeBio Adds Financial Runway Ahead Of Expected ATTR-CM Approval

 
• By Joseph Haas

Biotech gets $500m upon FDA approval in exchange for 5% sales royalty on acoramidis, which is expected to compete with Pfizer’s Vyndamax. The agreement also pushes debt payout to 2029.

Deferred debt
BridgeBio gains flexibility with debt deferral to 2029 • Source: Shutterstock

BridgeBio Pharma, Inc. believes it has a long-term blockbuster on its hands in acoramidis, a high-affinity stabilizer of transthyretin that has been filed for US approval in transthyretin amyloid cardiomyopathy (ATTR-CM), and now it has a pair of investors who appear to share that bullish sentiment. The Palo Alto, CA-based firm announced a set of transactions on 18 January that ultimately could bring it $1.25bn via a royalty agreement and a pair of financings.

Key Takeaways

  • BridgeBio sells a 5% royalty on ATTR-CM candidate acoramidis for $500m to two investors.

  • That deal plus an agreement to push back payment of...

BridgeBio filed a new drug application for acoramidis at the US Food and Drug Administration in November after a pair of positive Phase III data readouts in 2023 and expects...

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