BUZZ-Royalty Pharma falls after investing $250 mln in Biogen's lupus treatment
ReutersFeb 12, 2025 3:07 PM
Shares of biotech investor Royalty Pharma RPRX.O fall 1.3% to $31.81
RPRX says it is providing up to $250 mln in funding to Biogen BIIB.O to support the development of litifilimab, a potential treatment for systemic lupus erythematosus (SLE) and cutaneous lupus erythematosus (CLE)
SLE and CLE are two forms of the autoimmune disease lupus that affect multiple organs and the skin, respectively, and is currently in late-stage trial
RPRX says the funding will be provided over six quarters in exchange for regulatory milestones and royalties on future worldwide sales of litifilimab
Late-stage trial data are expected between 2026 and 2027
RPRX fell 9.8% in 2024
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