REGENXBIO Announces Strategic Royalty Monetization Agreement for Up to $250 Million
REGENXBIO (NASDAQ: RGNX) has secured a strategic royalty monetization agreement with Healthcare Royalty (HCRx) worth up to $250 million. The company received $150 million upfront, extending its cash runway into early 2027. The non-dilutive agreement includes rights to royalties from ZOLGENSMA sales and milestone payments from various partnerships.
Additional funding includes $50 million tied to ZOLGENSMA sales milestones (by April 2027) and another $50 million upon mutual agreement. HCRx will receive quarterly interest payments from royalty revenue and warrants to purchase 268,096 shares at $14.92. REGENXBIO retains rights to other funding sources, including a potential Priority Review Voucher for RGX-121 and milestones from AbbVie and Nippon Shinyaku.
REGENXBIO (NASDAQ: RGNX) ha ottenuto un accordo strategico di monetizzazione delle royalty con Healthcare Royalty (HCRx) del valore fino a 250 milioni di dollari. L'azienda ha ricevuto 150 milioni di dollari in anticipo, estendendo la propria liquidità fino all'inizio del 2027. L'accordo non diluitivo include i diritti sulle royalty derivanti dalle vendite di ZOLGENSMA e i pagamenti legati a milestone da diverse collaborazioni.
I finanziamenti aggiuntivi comprendono 50 milioni di dollari legati a milestone delle vendite di ZOLGENSMA (entro aprile 2027) e ulteriori 50 milioni di dollari su accordo reciproco. HCRx riceverà pagamenti trimestrali di interessi provenienti dai ricavi delle royalty e warrant per l'acquisto di 268.096 azioni a 14,92 dollari ciascuna. REGENXBIO mantiene i diritti su altre fonti di finanziamento, inclusi un potenziale Voucher di Revisione Prioritaria per RGX-121 e milestone da AbbVie e Nippon Shinyaku.
REGENXBIO (NASDAQ: RGNX) ha asegurado un acuerdo estratégico de monetización de regalías con Healthcare Royalty (HCRx) por un valor de hasta 250 millones de dólares. La compañía recibió 150 millones de dólares por adelantado, extendiendo su liquidez hasta principios de 2027. El acuerdo no dilutivo incluye derechos sobre regalías de las ventas de ZOLGENSMA y pagos por hitos de varias asociaciones.
La financiación adicional incluye 50 millones de dólares vinculados a hitos de ventas de ZOLGENSMA (antes de abril de 2027) y otros 50 millones de dólares sujetos a acuerdo mutuo. HCRx recibirá pagos trimestrales de intereses provenientes de los ingresos por regalías y warrants para comprar 268,096 acciones a 14.92 dólares. REGENXBIO mantiene los derechos sobre otras fuentes de financiación, incluyendo un posible Vale de Revisión Prioritaria para RGX-121 y hitos de AbbVie y Nippon Shinyaku.
REGENXBIO (NASDAQ: RGNX)� Healthcare Royalty(HCRx)와 최대 2� 5천만 달러 규모� 전략� 로열� 현금� 계약� 체결했습니다. 회사� 선불� 1� 5천만 달러� 받았으며, 이를 통해 2027� 초까지 현금 유동성을 연장했습니다. � 비희� 계약에는 ZOLGENSMA 판매에서 발생하는 로열� 권리와 다양� 파트너십에서� 마일스톤 지급이 포함됩니�.
추가 자금은 2027� 4월까지 ZOLGENSMA 판매 마일스톤� 연계� 5천만 달러, 그리� 상호 합의� 따른 � 다른 5천만 달러� 포함합니�. HCRx� 로열� 수익에서 분기� 이자 지급을 받고, 주당 14.92달러� 268,096주를 매수� � 있는 워런트를 받습니다. REGENXBIO� RGX-121� 우선심사 바우� 가능성� AbbVie � Nippon Shinyaku로부터의 마일스톤 � 다른 자금 조달 권리� 보유합니�.
REGENXBIO (NASDAQ : RGNX) a conclu un accord stratégique de monétisation de redevances avec Healthcare Royalty (HCRx) d'une valeur pouvant atteindre 250 millions de dollars. La société a reçu 150 millions de dollars en avance, prolongeant ainsi sa trésorerie jusqu'au début de 2027. Cet accord non dilutif inclut les droits sur les redevances des ventes de ZOLGENSMA ainsi que les paiements liés à des jalons issus de divers partenariats.
Le financement supplémentaire comprend 50 millions de dollars liés aux jalons de ventes de ZOLGENSMA (d'ici avril 2027) et un autre 50 millions de dollars sous accord mutuel. HCRx percevra des paiements d’intérêts trimestriels provenant des revenus de redevances et des bons de souscription pour l’achat de 268 096 actions à 14,92 dollars. REGENXBIO conserve les droits sur d’autres sources de financement, notamment un éventuel bon de révision prioritaire pour RGX-121 ainsi que des jalons d’AbbVie et Nippon Shinyaku.
REGENXBIO (NASDAQ: RGNX) hat eine strategische Vereinbarung zur Monetarisierung von Lizenzgebühren mit Healthcare Royalty (HCRx) im Wert von bis zu 250 Millionen US-Dollar abgeschlossen. Das Unternehmen erhielt 150 Millionen US-Dollar im Voraus, wodurch die Liquiditätsdauer bis Anfang 2027 verlängert wird. Die nicht verwässernde Vereinbarung umfasst Rechte an Lizenzgebühren aus dem Verkauf von ZOLGENSMA sowie Meilensteinzahlungen aus verschiedenen Partnerschaften.
Zusätzliche Mittel umfassen 50 Millionen US-Dollar, die an Verkaufsmeilensteine von ZOLGENSMA (bis April 2027) gebunden sind, sowie weitere 50 Millionen US-Dollar nach gegenseitiger Vereinbarung. HCRx erhält vierteljährliche Zinszahlungen aus den Lizenzgebühren und Bezugsrechte zum Kauf von 268.096 Aktien zu je 14,92 US-Dollar. REGENXBIO behält sich Rechte an weiteren Finanzierungsquellen vor, darunter ein potenzieller Priority Review Voucher für RGX-121 sowie Meilensteine von AbbVie und Nippon Shinyaku.
- Secured $150 million upfront non-dilutive funding, extending cash runway into early 2027
- Additional $100 million potential funding through milestone achievements and mutual agreement
- Retains valuable assets including Priority Review Voucher and milestone payments from partnerships
- Warrants issued at 100% premium to current stock price, minimizing immediate dilution
- Company taking on debt secured against future royalty streams
- Giving up portions of future royalty revenue from ZOLGENSMA and other programs
- Quarterly interest payments will reduce cash flow from royalty revenues
Insights
REGENXBIO secures $150M upfront from royalty monetization, extending cash runway to 2027 while maintaining significant future upside potential.
REGENXBIO's $250M royalty monetization deal with Healthcare Royalty represents a strategic financial maneuver that immediately strengthens their balance sheet without diluting shareholders. The initial
The structure of this agreement demonstrates sophisticated financial engineering - REGENXBIO monetizes select royalty streams from ZOLGENSMA and certain Nippon Shinyaku partnership assets, but critically retains several valuable future revenue opportunities. This includes the potential Priority Review Voucher for RGX-121 (which could fetch
What makes this deal particularly intelligent is the staged capital access:
The timing coincides perfectly with REGENXBIO approaching multiple value inflection points across their pipeline: potential FDA approval for RGX-121 (MPS II), RGX-202 (Duchenne) BLA submission, and pivotal readouts for ABBV-RGX-314 in wet AMD. This financing creates a financial bridge to potential commercialization without sacrificing long-term economics.
From HCRx's perspective, they've secured rights to compelling royalty streams from approved therapies like ZOLGENSMA while gaining warrant upside. The
secured at closing extends cash runway into early 2027$150 million - REGENXBIO retains additional potential non-dilutive funding opportunities, including monetization of Priority Review Voucher (PRV) and milestones from AbbVie
"This strategic financing brings future potential funds forward and extends our runway beyond multiple meaningful milestones, including the potential FDA approval of RGX-121 for MPS II, top-line data readout and BLA submission for RGX-202 for Duchenne, and top-line data readouts for two pivotal studies of subretinal ABBV-RGX-314 for wet AMD," said Mitchell Chan Chief Financial Officer of REGENXBIO. "Along with fueling our late-stage activities, this transaction enables us to retain future potential non-dilutive opportunities and the potential long-term financial upside from our NAV® licensees and MPS programs. As we approach potential first- or best-in-class product launches, we remain focused on leveraging low-cost, non-dilutive capital to advance our differentiated portfolio and unlock significant value for shareholders. This capital infusion positions us well to accelerate commercial preparations and continue extending our longstanding leadership in rare and retinal gene therapies."
"This financing capitalizes on REGENXBIO's unique position as a late-stage gene therapy company with multiple royalty-generating assets," said Clarke Futch, Chairman and Chief Executive Officer of HCRx. "We recognize the value embedded in REGENXBIO's differentiated portfolio. This deal demonstrates HCRx's commitment to providing innovative capital structures to benefit our clients and their shareholders."
Terms of the Agreement
Under the terms of the agreement, HCRx will provide REGENXBIO an up to
HCRx will receive quarterly interest payments derived solely from the royalty and milestone revenue received, less any payments to REGENXBIO's upstream licensors, andwarrants to purchase up to 268,096 shares of the Company's common stock at an exercise price of
In addition to the
REGENXBIO's other future potential non-dilutive funding sources, including the potential sale of the expected Priority Review Voucher for RGX-121, development and sales milestones from AbbVie, and a majority of the development milestones from Nippon Shinyaku, are not included in this agreement and are retained by REGENXBIO.
Zolgensma using intravenous delivery has been approved for the treatment of SMA in more than 50 countries. In January 2025, Novartis announced the Phase III study of Zolgensma using intrathecal delivery had met its primary endpoint.
Covington & Burling LLP served as legal advisor to REGENXBIO and Morgan, Lewis & Bockius LLP advised HCRx.
ABOUT REGENXBIO Inc.
REGENXBIO is a biotechnology company on a mission to improve lives through the curative potential of gene therapy. Since its founding in 2009, REGENXBIO has pioneered the field of AAV gene therapy. REGENXBIO is advancing a late-stage pipeline of one-time treatments for rare and retinal diseases, including RGX-202 for the treatment of Duchenne; clemidsogene lanparvovec (RGX-121) for the treatment of MPS II and RGX-111 for the treatment of MPS I, both in partnership with Nippon Shinyaku; and surabgene lomparvovec (ABBV-RGX-314) for the treatment of wet AMD and diabetic retinopathy, in collaboration with AbbVie. Thousands of patients have been treated with REGENXBIO's AAV platform, including those receiving Novartis' ZOLGENSMA®. REGENXBIO's investigational gene therapies have the potential to change the way healthcare is delivered for millions of people. For more information, please visit .
ABOUT HEALTHCARE ROYALTY
HealthCare Royalty is a leading royalty acquisition company focused on commercial or near-commercial biopharmaceutical products. With offices in
FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "believe," "may," "will," "estimate," "continue," "anticipate," "assume," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or by variations of such words or by similar expressions. The forward-looking statements include statements relating to, among other things, REGENXBIO's future operations, clinical trials, costs and cash flow. REGENXBIO has based these forward-looking statements on its current expectations and assumptions and analyses made by REGENXBIO in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors REGENXBIO believes are appropriate under the circumstances. However, whether actual results and developments will conform with REGENXBIO's expectations and predictions is subject to a number of risks and uncertainties, including the timing of enrollment, commencement and completion and the success of clinical trials conducted by REGENXBIO, its licensees and its partners, the timing of commencement and completion and the success of preclinical studies conducted by REGENXBIO and its development partners, the timing or likelihood of payments from AbbVie or Nippon Shinyaku, the monetization of any priority review voucher, the timely development and launch of new products, the ability to obtain and maintain regulatory approval of product candidates, the ability to obtain and maintain intellectual property protection for product candidates and technology, trends and challenges in the business and markets in which REGENXBIO operates, the size and growth of potential markets for product candidates and the ability to serve those markets, the rate and degree of acceptance of product candidates, and other factors, many of which are beyond the control of REGENXBIO. Refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of REGENXBIO's Annual Report on Form 10-K for the year ended December 31, 2024, and comparable "risk factors" sections of REGENXBIO's Quarterly Reports on Form 10-Q and other filings, which have been filed with the SEC and are available on the SEC's website at . All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on REGENXBIO or its businesses or operations. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. These forward-looking statements speak only as of the date of this press release. Except as required by law, REGENXBIO does not undertake any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Dana Cormack
Corporate Communications
[email protected]
Investors:
George E. MacDougall
Investor Relations
[email protected]
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SOURCE REGENXBIO Inc.