Agios Sells Tibsovo Royalty Interest to Sagard Healthcare Partners for $131.8 Million
October 28, 2022
Agios Pharmaceuticals sold its rights to 5 percent royalties on U.S. net sales of Servier’s Tibsovo to Sagard Healthcare Partners for a one-time payment of $131.8 million.
Tibsovo is an oral, targeted therapy approved by the U.S. Food and Drug Administration for the treatment of adult patients with an UDH1 mutation with acute myeloid leukemia or cholangiocarcinoma. In 2021, Agios completed the sale of its oncology portfolio, including Tibsovo, to Servier. Agios retains its rights to a potential future milestone payment of $200 million for vorasidenib, as well as 15 percent royalties on U.S. net sales of vorasidenib.
The sale is the final piece of the company’s transformation from oncology toward developing cellular metabolism therapies for rare and genetically defined diseases.
“As a company solely focused on making an impact for people with rare and genetically defined diseases, this non-equity funding provides us with increased financial flexibility to continue to advance our mission,” said Brian Goff, CEO at Agios. “As the result of a competitive process, we achieved an attractive valuation for the Tibsovo royalty and identified an agile and collaborative financial partner in Sagard Healthcare Partners. As we execute our Pyrukynd commercial launch, advance multiple pivotal studies across thalassemia, sickle cell disease, and pediatric pyruvate kinase deficiency, and build a sustainable pipeline through both internally and externally discovered assets, this deal enhances our ability to stay laser-focused on unlocking the greatest impact for people living with genetically defined diseases.”
Agios’ Pyrukynd is a first-in-class pyruvate kinase activator for adults with pyruvate kinase deficiency, a rare, lifelong, debilitating hemolytic anemia, which was approved for marketing in the United States in February 2022.
Author: Rare Daily Staff
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