RTP-based BioCryst Pharmaceuticals is licensing much of the commercialization rights for its influenza treatment delivered by injection in a deal worth more than $45 million plus royalties. BioCryst does keep some rights, including its deal with the U.S. government.
BioCryst (Nasdaq: BCRX) received FDA approval for Rapivab, also known as peramivir, in December.
Getting the commercialization rights is CSL Limited in a deal announced early Wednesday.
BioCryst receives an upfront payment of $33.7 million and could receive another $12 million based on milestones. The company will receive royalties on sales as well.
The treatment is for patients ages 18 and older. It is the only such intravenous treatment available. Regulators in South Korea and Japan also have approved its use.
BioCryst keeps rights to markets in Japan, Korea, Taiwan and Israel as well as orders from the U.S. government.
“With its expertise and global scale in influenza, BioCSL is the ideal partner to commercialize Rapivab in the U.S. and to work with us to pursue additional approvals in Europe, Canada and other rest of world markets,” said BioCryst CEO Jon Stonehouse in a statement.
“BioCSL has strong pandemic franchises and has successfully negotiated a number of significant government influenza product stockpiling contracts around the globe. This transaction maximizes the potential value of Rapivab and provides non-dilutive capital to BioCryst to fund our rare disease programs.”
