Dicerna Sells OXLUMO™ (lumasiran) Royalty Interest to Royalty Pharma for Up to $240 Million
Apr 08, 2021
– Dicerna To Receive
“We are very pleased to have entered into this agreement with
“We are delighted to accomplish this transaction with Dicerna, an emerging leading player in RNAi therapeutics,” said
Dicerna became entitled to royalties on worldwide net product sales of OXLUMO as part of a 2020 non-exclusive intellectual property cross-license agreement between Dicerna and Alnylam related to the companies’ PH programs. Dicerna is entitled to royalties in the mid to high single digits based on OXLUMO global net sales.
This transaction, together with Dicerna’s cash, cash equivalents, held-to-maturity investments and anticipated milestone and other payments from existing collaborations, is expected to extend Dicerna’s projected cash runway and be sufficient to fund the execution of its current clinical and operating plan into 2024.
About Primary Hyperoxaluria (PH)
Primary hyperoxaluria (PH) is a family of ultra-rare, life-threatening genetic disorders that initially manifest with complications in the kidneys. There are three known types of PH (PH1, PH2 and PH3), each resulting from a mutation in one of three different genes. These genetic mutations cause enzyme deficiencies that result in the overproduction of a substrate called oxalate. Abnormal production and accumulation of oxalate leads to recurrent kidney stones, nephrocalcinosis and chronic kidney disease that may progress to end-stage renal disease requiring intensive dialysis. Compromised renal function eventually results in the accumulation of oxalate in a wide range of organs including the skin, bones, eyes and heart. In the most severe cases, symptoms start in the first year of life. A combined liver-kidney transplant may be undertaken to resolve PH1 or PH2, but it is an invasive solution with limited availability and high morbidity that requires lifelong immune suppression to prevent organ rejection. Genetic studies suggest approximately 8,500 people in the
Founded in 1996,
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Examples of forward-looking statements include, among others, statements made regarding Dicerna’s product candidates and the development thereof; the potential for additional, escalating payments to Dicerna based on Royalty Pharma’s royalty receipts on net sales of OXLUMO; the progress of Dicerna’s clinical trials for nedosiran and its potential to address PH1, PH2 and PH3; the sufficiency of Dicerna’s cash, cash equivalents, held-to-maturity investments and anticipated milestone and other payments from existing collaborations; the potential for future collaboration opportunities between Dicerna and
The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made as of the date of this document unless stated otherwise, and neither the delivery of this document at any time, nor any sale of securities, shall under any circumstances create an implication that the information contained herein is correct as of any time after such date or that information will be updated or revised to reflect information that subsequently becomes available or changes occurring after the date hereof. This document contains statements that constitute “forward-looking statements” as that term is defined in
1 Hopp K, et al. J Am Soc Nephrol. 2015;26(10):2559-2570 and
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