Regenxbio to sell portion of Zolgensma royalties for $200 million
Clinical-stage US biotechnology company Regenxbio (Nasdaq: RGNX) has entered into an agreement to sell a portion of the royalty rights due to the company from Novartis Gene Therapies (formerly AveXis) from the net sales of Zolgensma (onasemnogene abeparvovec-xioi) to entities managed by Healthcare Royalty Management (HCR) for a gross purchase price of $200 million.
This transaction provides immediate, non-dilutive capital to Regenxbio for continued innovation in the development of potential breakthrough gene therapies for patients and completion of its internal manufacturing capabilities.
The news pushed Regenxbio’s shares up 5.9% to $49.35 by close on Tuesday and a further 1.1% to $49.90 pre-market today.
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