Enanta Pharmaceuticals Announces Sale of a Portion of Global Royalties on MAVYRET® (U.S.)/MAVIRET® (ex-U.S.) (Glecaprevir/Pibrentasvir) to OMERS Life Sciences for $200 Million
- Non-Dilutive and Strengthens Balance Sheet
- Competitive Process Results in the Sale of 54.5% of the MAVYRET®/MAVIRET® Royalty Interest, Subject to a 1.42x Cap
- Sale Proceeds to Fund Continuing Clinical Development Across Virology Pipeline
“We are pleased to partner with OMERS and its Life Sciences team to secure additional non-dilutive funding, which not only provides us with increased financial flexibility and retained economics, but also demonstrates the continued value of MAVYRET®/MAVIRET® and its significance for patients who continue to benefit from this therapy,” said
“Enanta is a leader in small molecule drug discovery as evidenced by the successful development and commercialization of MAVYRET®/MAVIRET® in collaboration with AbbVie,” said
MAVYRET®/MAVIRET® is a fixed-dose combination of glecaprevir, an NS3/4A protease inhibitor, and pibrentasvir, an NS5A inhibitor, indicated for the treatment of chronic hepatitis C virus (HCV) infection. Glecaprevir was discovered by Enanta under a collaboration between AbbVie and Enanta to discover and develop protease inhibitor treatments for chronic HCV infection. MAVYRET®/MAVIRET® was launched globally beginning in 2017.
Enanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs for the treatment of viral infections. Enanta’s research and development programs include clinical candidates for the following disease targets: respiratory syncytial virus (RSV), SARS-CoV-2 (COVID-19) and hepatitis B virus (HBV). Enanta is also conducting research on a single agent targeting both RSV and human metapneumovirus (hMPV).
Glecaprevir, a protease inhibitor discovered by Enanta, is part of one of the leading treatment regimens for curing chronic HCV infection and is sold by AbbVie in numerous countries under the tradenames MAVYRET® (
About OMERS Life Sciences and OMERS
OMERS Life Sciences provides royalty financings and other non-dilutive solutions to biopharma companies and academic institutions, supporting their efforts to address unmet medical needs and improve the quality of life of patients around the world.
OMERS is a jointly sponsored, defined benefit pension plan, with 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred and retired members. Its members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across
Forward Looking Statements
This press release contains forward-looking statements, including statements with respect to the prospects for MAVYRET®/MAVIRET®. Statements that are not historical facts are based on management’s current expectations, estimates, forecasts and projections about Enanta’s business and the industry in which it operates and management’s beliefs and assumptions. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors and risks that may affect actual results include: the impact of development, regulatory and marketing efforts of others with respect to competitive treatments for HCV; the competitive impact of development, regulatory and marketing efforts of others in this disease area; any continuing impact of the COVID-19 pandemic on sales of MAVYRET®/MAVIRET®; the need to obtain and maintain patent protection for MAVYRET®/MAVIRET®; and other risk factors described or referred to in “Risk Factors” in Enanta’s Form 10-K for the fiscal year ended
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