Press release
Royalty Pharma and Revolution Medicines Enter Into Funding Agreements for Up to $2 Billion
Up to $1.25 billion ($250 million upfront) of synthetic royalty funding and up to $750 million in secured debt Innovative partnership enables Revolution
About this update from Royalty Pharma Plc
[{"type":"text","content":"Up to $1.25 billion ($250 million upfront) of synthetic royalty funding and up to $750 million in secured debt Innovative partnership enables Revolution Medicines to retain control over pipeline development and global commercialization of daraxonrasib Highlights Royalty Pharma’s unique ability to provide capital at scale to help leading companies achieve their strategic goalsDaraxonrasib, in Phase 3 development for pancreatic cancer and non-small cell lung cancer, would be the first targeted therapy to inhibit all major forms of RAS, one of the most common drivers of human cancers NEW YORK, June 24, 2025 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced a $2 billion funding arrangement with Revolution Medicines, consisting of a synthetic royalty of up to $1.25 billion on daraxonrasib and a senior secured loan of up to $750 million. These funds will support Revolution Medicines’ plans for global development and commercialization of daraxonrasib and its pipeline programs for patients with RAS-addicted cancers. “We are excited to announce today a groundbreaking partnership that provides Revolution Medicines with up to $2 billion of long-term capital through a customized funding solution that facilitates the expansive development and global commercialization of its leading RAS(ON) inhibitor portfolio,” said Pablo Legorreta, founder and Chief Executive Officer of Royalty Pharma. “This partnership exemplifies a new funding paradigm for highly innovative biotech companies. In contrast to a conventional pharma partnership, this large scale and flexible funding agreement enables Revolution Medicines to retain control of the clinical development of daraxonrasib, as well as the ability to capture significant value creation that would result from the successful clinical development and commercialization of its pipeline.” “Today’s announcement represents a major boost to our bold vision on behalf of patients with RAS-addicted cancers,” said Mark A. Goldsmith M.D., Ph.D., Chief Executive Officer and Chairman of Revolution Medicines. “This funding agreement significantly increases the financial resources we can deploy while preserving optionality as we scale our operations to create the industry-leading global targeted medicines franchise for patients with RAS-addicted cancers based on our highly differentiated RAS(ON) inhi...