Santhera Grants Catalyst Pharmaceuticals Exclusive Vamorolone License in $231M Deal Plus Royalties

Details:

• Santhera will receive USD 90 million upfront at closing (USD 75 million in cash and USD 15 million equity investment), an additional USD 10 million upon U.S. FDA approval of vamorolone in Duchenne muscular dystrophy (DMD) plus USD 26 million to pay approval related regulatory milestones to third parties, and potential sales milestones of up to USD 105 million

• Agreement covers commercialization of vamorolone in DMD and rights to all potential future indications in North America (NA)

• Catalyst will pay Santhera up to low-teen percentage royalties and will assume corresponding third-party royalty obligations on vamorolone sales in NA

• Santhera will continue to focus on European commercialization of vamorolone in DMD, and further development of its clinical pipeline

• Santhera and Catalyst intend to collaborate on joint clinical development and funding of vamorolone for additional indications beyond DMD

• Proceeds allow for repayment of all short-term debt with Highbridge and an overall strengthening of the balance sheet.

References:

• Synapse: Global Drug Intelligence Database