BridgeBio Adds Financial Runway Ahead Of Expected ATTR-CM Approval

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.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Strategy

More from Business

Pharma Predicts Modest Impact From Tariffs, But It Depends On What Comes Next

 

Drugmakers aren’t expecting a big financial hit from tariffs for now, but a report commissioned by PhRMA suggests the cost of pharma-sector tariffs could be steep.

OPPI’s Matai On Section 3(d) Of India’s Patent Regulations: Now’s The Time To Open Up

 

Anil Matai, director general, Organization of Pharmaceutical Producers of India, talks in this audio interview about the evolving intellectual property landscape in India post the 2024 amendments, including long-standing sticking points such as Section 3(d) of India’s patent regulations and innovator firms' experience of the Bolar provision. There’s also a "compelling reason" to consider regulatory data protection, he claims.

In Brief: Sanofi Gains €10bn From Opella Sale

 

Sanofi sold a 50% stake in consumer health unit Opella for €10bn, backing its shift to prescription drugs and funding a €5bn buyback.