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DRI Healthcare Trust Announces the Expansion of its Royalty Entitlement on the US Net Sales of Omidria®, Updates Deployment and CAGR Guidance
DRI Healthcare Trust Announces the Expansion of its Royalty Entitlement on the US Net Sales of Om...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Announces the Expansion of its Royalty Entitlement on the US Net Sales of Omidria®, Updates Deployment and CAGR 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 – Immediate and accretive cash flow generation replaces structured annual caps –\n \n \n \n \n – Increasing capital deployment guidance to over\n \n US$1.25 billion\n \n deployed for the five years ending 2025 –\n \n \n \n \n – Now expecting high-teens Royalty Income CAGR through 2025 and mid- to high-single digit Royalty Income CAGR through 2030, excluding any new transactions –\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 1, 2024\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 expanded its interest in royalties on the US net sales of Omidria by amending its existing agreement with Omeros Corporation (\"Omeros\") for\n \n US$115 million\n \n on closing and up to\n \n US$55 million\n \n in potential sales-based milestone payments. As a result, the Trust will now receive 100% of Omeros' royalties on the US net sales of Omidria through\n \n December 31, 2031\n \n .\n \n \n Omidria was approved by the US Food and Drug Administration in\n \n May 2014\n \n and the European Medicines Agency in\n \n July 2015\n \n for intracameral use during cataract surgery or intraocular lens replacement to maintain pupil dilation and reduce postoperative pain. Omidria was launched in\n \n the United States\n \n in 2014 but has yet to be launched in the European Union. Omidria is marketed by Rayner Surgical, one of the world's leaders in the field of cataract surgery with operations in over 80 countries worldwide.\n \n \n \n \n Increased Capital Deployment Target and CAGR Guidance\n \n \n \n \n DRI Healthcare is increasing its deployment target for the five years ending 2025 to over\n \n US$1.25 billion\n \n , up from\n \n US$850 million\n \n...