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UroGen Pharma Announces $75 Million of Non-Dilutive Funding from RTW Investments
RTW Investments, LP will provide UroGen with an upfront cash payment of $75 million and will receive tiered future payments based on worldwide annual net
About this update from Urogen Pharma Ltd.
[{"type":"text","content":"\n\nRTW Investments, LP will provide UroGen with an upfront cash payment of $75 million and will receive tiered future payments based on worldwide annual net product sales of Jelmyto® and UGN-102, if approved \n\n\n\nStrategic funding partnership with RTW Investments, LP enables UroGen to further support the ongoing commercial launch of Jelmyto and advance clinical development of UGN-102 \n\n\n PRINCETON, N.J.--(BUSINESS WIRE)--\nUroGen Pharma Ltd. (Nasdaq: URGN), a biopharmaceutical company dedicated to building and commercializing novel solutions that treat specialty cancers and urologic diseases, today announced that the Company has entered into a strategic funding agreement with RTW Investments, LP and its affiliated entities (“RTW”).\n\nUnder the terms of the agreement, subject to customary closing conditions, UroGen will receive $75 million in upfront cash from RTW in return for tiered, future cash payments based on aggregate worldwide annual net product sales of Jelmyto® (mitomycin) for pyelocalyceal solution as well as UGN-102, if approved. In exchange for the $75 million upfront payment, RTW will receive tiered, future cash payments on worldwide annual net product sales of Jelmyto ranging from high to low single digits based on certain annual sales thresholds, subject to upward adjustment if certain annual sales and regulatory milestones are not met. RTW will also receive tiered, future cash payments on worldwide annual net product sales of UGN-102, if approved, in the low single digits based on certain annual sales thresholds.\n\nThe future payments on both Jelmyto and UGN-102 will terminate following the date that RTW has received an aggregate amount pursuant to such payments of $300 million.\n\n“UroGen’s RTGel™ platform has demonstrated the ability to overcome historical treatment barriers, work with anatomical complexity and thus unlock new therapeutic potential, including those conditions targeted by Jelmyto and UGN-102,” said Brad Sitko, Managing Director of Strategic Finance, RTW Investments, LP. “We are proud to partner with the UroGen management team and look forward to supporting the Company’s goal of building a leading uro-oncology company.”\n\n“This important non-dilutive transaction provides a clear path to fund the ongoing launch of Jelmyto and to advance our UGN-102 program, including the ongoing Phase 3 ...