– Transaction pushes total committed capital to over
– Second Xenpozyme royalty increases exposure to rare diseases –
– Long-term asset further increases portfolio duration –
Xenpozyme is the only product developed and approved for the treatment of non-central nervous system manifestations of acid sphingomyelinase deficiency ("ASMD"), also known as Niemann-Pick disease, in pediatric and adult patients. Xenpozyme was approved in
"Xenpozyme is an important treatment that materially increases the quality of life of patients suffering from ASMD," said
Speaking on behalf of the investment manager, Chief Investment Officer
The transaction entitles the Trust to an approximately 1% royalty on worldwide sales of Xenpozyme. The Trust will receive all royalties up to
Upon achievement of certain thresholds of worldwide net sales of Xenpozyme, the Trust is obligated to pay up to
About Xenpozyme
Xenpozyme addresses a significant unmet need in ASMD patients. It is an intravenously infused recombinant human acid sphingomyelinase enzyme intended to directly replace ASM expression in patients with ASMD, thereby improving clinical manifestations of the disease. Xenpozyme is the first and only investigational ERT that was evaluated and approved for the treatment of non-central nervous system manifestations of ASMD.
About
Caution concerning forward-looking statements
This news release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of words such as "expect", "continue", "anticipate", "intend", "aim", "plan", "believe", "budget", "estimate", "forecast", "foresee", "close to", "target" or negative versions thereof and similar expressions. Some of the specific forward-looking information in this news release may include, among other things, statements regarding the timing of the first royalty payment pursuant to the additional royalty interest in Xenpozyme, our royalty cash receipts, the timing of royalty payments anticipated royalty income and anticipated sales of the products underlying our royalties. This forward-looking information is subject to a number of assumptions, including, but not limited to: statements regarding the terms and conditions of our transactions are based on the transaction documentation, statements with respect to royalty income, total income and future sales of the products underlying our existing royalties are based on assumptions with respect to timing of generic drugs entering the market, competitor drugs receiving approval and entering the market, and regulatory measures under the Inflation Reduction Act, and are subject to a number of risks and uncertainties, many of which are beyond the Trust's control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, those that are disclosed in the Trust's most recent annual information form. The anticipated royalty terms for products in our portfolio may be shorter than the period of patent protection for the applicable product, depending on many factors, including the entry of generic drugs into the marketplace and competition, all of which are outside our control. All forward-looking information in this news release speaks as of the date of this news release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the Trust's filings with securities regulators, including its latest annual information form and management's discussion and analysis. These filings are also available on the Trust's website at drihealthcare.com.
SOURCE
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