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DRI Healthcare Trust Announces Acquisition of a Second Royalty Interest in the Worldwide Sales of ORSERDU® (elacestrant) and Updates Long-Term Guidance
DRI Healthcare Trust Announces Acquisition of a Second Royalty Interest in the Worldwide Sales of...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Announces Acquisition of a Second Royalty Interest in the Worldwide Sales of ORSERDU® (elacestrant) and Updates Long-Term Guidance\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 – Proceeds from follow-on offering quickly redeployed into value accretive transaction –\n \n \n \n \n – DRI Healthcare's third significant royalty acquisition within six weeks –\n \n \n \n \n – Now expecting mid-teens total income CAGR through 2025 and low single digit total income CAGR through 2030, excluding any new transactions –\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Aug. 14, 2023\n \n \n /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (the \"Trust\"), a global leader in providing financing to advance innovation in the life sciences industry, has purchased a second royalty interest in the worldwide net sales of ORSERDU®. DRI Healthcare entered into a purchase agreement with Radius Pharmaceuticals, Inc., a wholly owned subsidiary of Radius Health, Inc. (\"Radius\") for an upfront purchase price of\n \n US$130 million\n \n . This brings DRI Healthcare's total deployment to\n \n US$766 million\n \n since its IPO, with an additional\n \n US$69 million\n \n in potential milestone payments.\n \n \n \n \n \n \n \n \n \n ORSERDU® is an oral, selective estrogen receptor degrader (\"SERD\") marketed in\n \n the United States\n \n by Stemline Therapeutics, Inc., a subsidiary of the Menarini Group. It is the first and only approved targeted therapy used in the treatment of postmenopausal women or adult men with ESR1-mutated ER+/HER2- metastatic breast cancer who have experienced disease progression despite prior endocrine therapy. ORSERDU® was approved by the U.S. Food and Drug Administration in\n \n January 2023\n \n and is under review by the European Medicines Agency for potential approval.\n \n \n \"We are excited to add another royalty to our portfolio and increase our exposure to a high-quality and long-durati...