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Cytokinetics Announces Licensing Collaboration and Royalty Monetization Deals with RTW Investments Focused to CK-3773274, Next-Generation Cardiac Myosin Inhibitor
$250 Million in Committed Capital to Cytokinetics;Additional $200 Million in Development and Commercialization Milestone Payments Ji Xing Pharmaceuticals to
About this update from Cytokinetics, Incorporated
[{"type":"text","content":"$250 Million in Committed Capital to Cytokinetics;Additional $200 Million in Development and Commercialization Milestone Payments\n Ji Xing Pharmaceuticals to Develop & Commercialize in China RTW Provides Access to Capital to Cytokinetics to Fund Global Development in Exchange for Potential Royalties and Agrees to Purchase Royalty on Mavacamten Company to Host Conference Call and Webcast Today at 8:30 am Eastern Time SOUTH SAN FRANCISCO, Calif., July 14, 2020 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that it has agreed to a series of transactions with certain companies wholly owned by investment funds managed by RTW Investments, LP, and Ji Xing Pharmaceuticals Limited (“Ji Xing”), related to CK-3773274 (“CK-274”), a next-generation cardiac myosin inhibitor that Cytokinetics is developing for the potential treatment of hypertrophic cardiomyopathies (HCM’s) and other clinical indications that may be associated with excessive cardiac muscle contractility. Pursuant to these transactions, Cytokinetics will receive a combination of committed capital, funding and sale proceeds of up to $250 million from RTW and is eligible to receive up to $200 million in milestone payments plus royalties on future sales of CK-274 in certain Asian countries. “These deals afford us the opportunity to dial up development of CK-274 in multiple indications and across a wider span of geographies,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “We have built our company by leveraging innovative science and deals and are pleased to enter into another set of transactions to diversify access to capital and extend and expand our cardiovascular pipeline.” “As a differentiated, next-generation cardiac myosin inhibitor, CK-274 holds promise as an innovative treatment for hypercontractility that underlies hypertrophic cardiomyopathies and other indications,” said Roderick T. Wong, MD, Managing Partner, RTW Investments, LP. “We are pleased to partner with Cytokinetics in China as well as to invest in upside that CK-274 may provide globally.” Amongst these deals is a license from Cytokinetics to Ji Xing, a biopharmaceutical company backed by RTW and focused on the development and commercialization of innovative medicines in the People’s Republic of China (including the Hong Kong SAR and Macau SAR) and Tai...