Royalty Monetization$20 Million
Inavir® is the leading product for the treatment of influenza in Japan. It has a very favorable product profile due to its “one and done" dose form (e.g. disposable inhaler and single-dose treatment) as compared to other treatments which are required to be taken in multiple doses.
Aviragen Therapeutics Inc. (NASDAQ:AVIR), formerly known as Biota Pharmaceuticals, was seeking to monetize a non-core asset in order to strengthen its balance sheet and fund its internal early-stage development pipeline. A partial royalty sale to HCR allowed Aviragen to monetize a portion of its royalty stream for significant cash consideration, while also retaining the opportunity to benefit from any future upside potential of the product. Finally, the royalty financing provided the company with sufficient capital to obtain the clinical readouts from all three of its ongoing Phase 2 trials.