Verastem Oncology

Royalty Monetization$50 million

MAR 2019

MarketerVerastem Oncology

COPIKTRA™ (duvelisib) is an oral inhibitor of phosphoinositide 3-kinase (PI3K), indicated for the treatment of certain adult cancer patients (specifically, those with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies). Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) licensed COPIKTRA™ worldwide development and commercialization rights to Verastem Oncology (NASDAQ: VSTM).

Background

Infinity was looking to raise capital to support the expansion and depth of its pipeline, but did not want to sell equity at then current prices.  Rather, Infinity sold to HCR its right to receive certain royalty payments based on worldwide annual net sales of COPIKTRA™, a recently approved oncology product marketed by Verastem Oncology.