XPOVIOTM
Synthetic RoyaltyTM Up to $175 Million
JUN 2021/SEP 2019
PRODUCTXPOVIOTM
In July 2019, XPOVIOTM (selinexor) received accelerated approval from the U.S. Food and Drug Administration for the treatment of heavily pretreated adult patients with relapsed or refractory multiple myeloma. In addition to the initial indication, selinexor is being studied in several additional clinical trials in various indications and combinations.
Background
HCRx completed a $75 million SYNTHETIC ROYALTYTM financing with Karyopharm following the approval of XPOVIOTM in September 2019. That agreement contemplated a potential additional financing of up to $75 million if the company met certain key milestones, including achieving certain levels of XPOVIOTM sales and approval in different indications. The company achieved both those milestones and the two parties were able to reach agreement on an upsized additional $100 million transaction to support further commercialization of XPOVIOTM as well as support development activities.