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DRI Healthcare Trust Announces Acquisition of a Royalty Interest in the Worldwide Sales of TZIELD(TM) (teplizumab-mzwv) and Updates Long-Term Cash Receipts Outlook
DRI Healthcare Trust Announces Acquisition of a Royalty Interest in the Worldwide Sales of TZIELD...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Announces Acquisition of a Royalty Interest in the Worldwide Sales of TZIELD™ (teplizumab-mzwv) and Updates Long-Term Cash Receipts Outlook\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n – Transaction adds a ground-breaking type 1 diabetes therapy to DRI's expanding portfolio –\n \n \n \n \n – Excluding any new transactions, DRI now expects 2030 cash receipts to be at least as high as 2022 cash receipts –\n \n \n \n \n – Extends DRI's overall portfolio duration to over 10 years –\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 8, 2023\n \n \n /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (\"DRI\" or \"the Trust\") today announced that a wholly-owned subsidiary of DRI has agreed to purchase MacroGenics, Inc.'s (\"MacroGenics\") royalty interest in the worldwide sales of TZIELD (teplizumab-mzwv) for an up-front purchase price of\n \n US$100 million\n \n . DRI expects to fund the transaction through cash raised in its recently announced\n \n US$95 million\n \n private placement of preferred securities.\n \n \n \n \n \n \n \n \n \n TZIELD is a biologic drug indicated to delay the onset of stage 3 type 1 diabetes in adults and pediatric patients aged 8 years and older that have stage 2 (at-risk) type 1 diabetes. It was approved by the U.S. Food and Drug Administration in\n \n November 2022\n \n . TZIELD is currently the only approved preventative treatment indicated for stage 2 type 1 diabetes patients and is marketed by Provention Bio, Inc. (\"Provention\") and Sanofi S.A. through a co-promotion agreement. TZIELD is also being investigated in a phase III study of newly diagnosed stage 3 type 1 diabetes patients.\n \n \n \"TZIELD represents a meaningful step forward in the treatment of type 1 diabetes, a disease that affects millions worldwide,\" said\n \n Behzad Khosrowshahi\n \n , Chief Executive Officer of DRI Healthcare Trust. \"With the completion of this deal, and without assuming additional...