Royalty Bond$50 Million
RELISTOR® is approved by the FDA to treat opioid-induced constipation (“OIC"), a long-lasting and potentially debilitating side effect of opioid therapy for millions of patients suffering from chronic pain. RELISTOR® is the only drug approved for OIC in both palliative care and non-cancer pain patients and the product is now approved in both subcutaneous and oral formulations.
Progenics opportunistically leveraged a non-core asset, RELISTOR®, to bring in additional non-dilutive capital to fund its oncology pipeline. The royalty financing with HCR allowed the company to recognize the significant value of the RELISTOR® franchise through a partial monetization, while retaining the longer-term, upside potential of the product.
Note: This transaction also appears in the Royalty Monetization section under RELISTOR®.