MARLBOROUGH, Mass.--(BUSINESS WIRE)--TheracosBio today announced that its consolidated group of companies has signed a royalty financing agreement with HealthCare Royalty (HCRx). Under the terms of the agreement, HCRx will be entitled to a portion of the future royalties and milestone payments from the commercialization of a veterinary product developed by TheracosBio and commercialized by Elanco Animal Health. In exchange, the TheracosBio group received an upfront cash payment.
Last month, TheracosBio announced the commercial launch of Brenzavvy™ (bexagliflozin), its FDA-approved SGLT2 inhibitor.
“This financing is a tremendous asset for TheracosBio at a pivotal time for the company,” said Brian Connelly, President and CEO of TheracosBio. “This agreement further allows us to scale the distribution of Brenzavvy and ensure that it is available at an affordable price for adult patients in the US.”
TheracosBio develops novel therapeutics for diseases with significant societal impact. The mission of TheracosBio is to expand access to new medications for patients with common diseases.
About HealthCare Royalty
HCRx is a leading royalty acquisition company focused on commercial or near-commercial stage biopharmaceutical products. HCRx has $6.3 billion in cumulative capital commitments with offices in Stamford (CT), San Francisco, Boston and London. For more information, visit www.hcrx.com. HEALTHCARE ROYALTY® and HCRx® are registered trademarks of HealthCare Royalty Management, LLC.