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DRI Healthcare Trust Comments on FDA Approval of VONJOTM (pacritinib)
DRI Healthcare Trust Comments on FDA Approval of VONJOTM (pacritinib) Canada Ne...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Comments on FDA Approval of VONJOTM (pacritinib)\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 1, 2022\n \n \n /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (\"DRI\") today announced that it has been notified by CTI BioPharma Corp. (\"CTI\") that the U.S. Food and Drug Administration (\"FDA\") has approved VONJO (pacritinib) for the treatment of adults with intermediate or high-risk primary or secondary (post-polycythemia vera or post-essential thrombocythemia) myelofibrosis with platelets below 50 x 10\n \n 9\n \n /L. Myelofibrosis is a bone marrow cancer that results in formation of fibrous scar tissue and can lead to thrombocytopenia and anemia, weakness, fatigue and enlarged spleen and liver. This approval triggers the completion of the transaction with CTI for a tiered royalty on VONJO for\n \n US$60 million\n \n , as announced on\n \n August 25, 2021\n \n .\n \n \n \n \n \n \n \n \n \n \"We are very pleased that the FDA has approved VONJO, a groundbreaking drug that addresses a high unmet medical need, offering a meaningful new treatment option for adults with myelofibrosis with thrombocytopenia, a patient population for whom therapies do not currently exist,\" said\n \n Behzad Khosrowshahi\n \n , Chief Executive Officer of DRI Healthcare Trust. \"We would like to congratulate our partners at CTI who have worked tirelessly to develop VONJO, culminating in this approval.\"\n \n \n \"Importantly, we can now complete the royalty element of this transaction. The addition of the VONJO royalty provides an attractive, growing cash flow profile and extends our overall portfolio duration. Furthermore, this transaction highlights our ability to offer flexible deal structures that provide DRI with excellent assets that meet our acquisition criteria, while providing for the objectives of our partners such as CTI.\"\n \n \n The transaction entitles DRI to receive royalties on the net sales of VONJO in\n \n the United States\n \n equal to 9.6% of...