ROYALTY MONETIZATION$40 Million
FAMPYRA® (prolonged-release fampridine tablets) is approved for the improvement of walking in adult patients with multiple sclerosis who have walking disability. FAMPYRA® was approved and launched in 2011, and is commercialized in markets outside the United States by Biogen.
Acorda Therapeutics, Inc. (NASDAQ:ACOR) sought to monetize royalties received from sales of FAMPYRA® in order to fund its development pipeline in neurology therapies. HCR purchased the right to receive FAMPYRA® royalties payable by Biogen up to an agreed upon threshold, which enabled Acorda to meet its objective of raising a significant amount of non-dilutive capital.
Note: This transaction also appears in the Corporate Financing section under Acorda Therapeutics, Inc.