PTC Therapeutics to monetize part of the risdiplam royalty

PTC Therapeutics (Nasdaq: PTCT) today announced an agreement to monetize a portion of the risdiplam royalty stream for $650 million from Royalty Pharma, with the news bringing the firm’s shares down 2.5% to $54.29 in early trading.

The capital from the collaboration will enable PTC to further develop and expand its innovative rare disorder portfolio, particularly its validated splicing, Bio-e and gene therapy platforms.

"The discovery, development and expected commercialization of risdiplam exemplifies PTC's strengths in novel scientific approaches to diseases with high unmet needs can generate value for the benefit of all of our stakeholders," said Stuart Peltz, chief executive of PTC Therapeutics, adding: "Today's announcement of our strategic partnership with Royalty Pharma brings forward significant, non-dilutive capital to drive further innovation and growth across our robust and diverse rare disorder portfolio."