Neurimmune Receives Up to $425 Million for Cliramitug

(CONNECT) Neurimmune has sold a portion of its licensing rights to the active ingredient cliramitug to Royalty Pharma of New York, according to a press release. The Schlieren-based company will receive $425 million for this, of which $125 million will be paid up front.

Cliramitug is used to treat transthyretin amyloidosis with cardiomyopathy (ATTR-CM), a rare and life-threatening heart disease. In 2022, Neurimmune entered into an exclusive global collaboration and licensing agreement with Alexion for cliramitug. Alexion is a subsidiary of the British pharmaceutical company AstraZeneca that specializes in rare diseases. Alexion is also responsible for the ongoing Phase 3 trial. The agreement now reached with Royalty Pharma covers 3 to 4 percent of the licensing revenue from global sales of Cliramitug. Royalty Pharma will pay $125 million up front and an additional $125 million in the first quarter of 2027. The remaining $175 million will be paid out based on certain milestones.

“We are fully committed to our highly successful partnerships with Alexion and AstraZeneca, but we are also pleased to close the transaction with Royalty Pharma,” Roger M. Nitsch, CEO and President of Neurimmune, is quoted as saying in the press release. "The proceeds will be used to fund Neurimmune's internal research and development programs, and we will retain a significant portion of our royalty payments and milestone payments for Cliramitug."

Neurimmune was spun off from the University of Zurich in 2006 and is based in the Bio-Technopark Schlieren-Zurich. ce/jh