Royalty Pharma Buys Dicerna's Royalty Interest In OXLUMO

(RTTNews) - Royalty Pharma plc (RPRX) has acquired Dicerna Pharmaceuticals Inc.'s (DRNA) royalty interest in OXLUMO or lumasiran for an upfront cash payment of $180 million and up to $60 million in contingent sales-based milestone payments.

OXLUMO, which has been approved by the U.S. Food and Drug Administration and European Medicines Agency for the treatment of primary hyperoxaluria type 1, is marketed by Alnylam Pharmaceuticals Inc.

Dicerna is entitled to royalties in the mid to high single digits based on OXLUMO global net sales.

Dicerna said that it expects the transaction, together with its cash, cash equivalents, held-to-maturity investments and anticipated milestone and other payments from existing collaborations, to extend its projected cash runway and be sufficient to fund the execution of its current clinical and operating plan into 2024.