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New York, NY and Cambridge, MA – Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired a royalty interest in Alnylam’s AMVUTTRA from funds managed by Blackstone Life Sciences (“Blackstone”) for $310 million. The royalty interest being sold stems from Blackstone’s 2020 financing collaboration with Alnylam, in which Blackstone invested to support AMVUTTRA’s pivotal Phase 3 HELIOS-B trial.

AMVUTTRA is an FDA-approved RNAi therapeutic for the treatment of ATTR amyloidosis, a progressive, degenerative and fatal disease caused by misfolded proteins that accumulate in the nerves, heart and GI tract.

“We are delighted to acquire a royalty interest in AMVUTTRA,” said Pablo Legorreta, founder and Chief Executive Officer of Royalty Pharma. “AMVUTTRA is a breakthrough RNAi therapeutic that delivers compelling benefits to patients, including a meaningful reduction in all-cause mortality for ATTR cardiomyopathy patients. Its impressive commercial trajectory underscores the significant market opportunity for the product and positions it as a highly attractive contributor to Royalty Pharma’s portfolio.”

AMVUTTRA received FDA approval for the treatment of TTR amyloidosis with cardiomyopathy (ATTR-CM) in 2025 and for hereditary TTR amyloidosis with polyneuropathy (hATTR-PN) in 2022. ATTR-CM represents a fast-growing category driven by new therapeutic options and improving diagnosis rates. There are approximately 30,000 hATTR-PN patients globally and more than 300,000 ATTR-CM patients globally, of which just 20% are currently diagnosed. AMVUTTRA sales reached approximately $1 billion in 2024, which represented 74% year-over-year growth, and are projected to exceed $6 billion by 2028 based on analyst consensus.

Transaction Terms
Royalty Pharma has acquired Blackstone’s 1% royalty on worldwide net sales of AMVUTTRA in exchange for an upfront payment of $310 million. The royalty duration for AMVUTTRA will extend through March 2035. The transaction is expected to deliver returns consistent with Royalty Pharma’s stated targets for approved products under a range of scenarios that factor in significant potential competition from Alnylam’s follow-on product, nucresiran. The transaction with Royalty Pharma is for AMVUTTRA sales beginning on October 1, 2025 and excludes the fixed payments paid to Blackstone as part of the original transaction in which Blackstone invested $70 million.

Advisors
Gibson Dunn, Dechert and Maiwald acted as legal advisors to Royalty Pharma. Ropes & Gray and TD Securities acted as advisors to Blackstone.

About Royalty Pharma
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, and 17 development-stage product candidates.

About Blackstone Life Sciences
Blackstone Life Sciences (BXLS) is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, BXLS helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has $12 billion in assets under management.

Royalty Pharma Forward-Looking Statements
The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made as of the date of this document unless stated otherwise, and neither the delivery of this document at any time, nor any sale of securities, shall under any circumstances create an implication that the information contained herein is correct as of any time after such date or that information will be updated or revised to reflect information that subsequently becomes available or changes occurring after the date hereof. This document contains statements that constitute “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express the company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. Examples include discussion of Royalty Pharma’s strategies, financing plans, growth opportunities, market growth, and plans for capital deployment. In some cases, you can identify such forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “target,” “forecast,” “guidance,” “goal,” “predicts,” “project,” “potential” or “continue,” the negative of these terms or similar expressions. Forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to the company. However, these forward-looking statements are not a guarantee of Royalty Pharma’s performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, and other factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of Royalty Pharma’s control and could cause its actual results to differ materially from those it thought would occur. The forward-looking statements included in this document are made only as of the date hereof. Royalty Pharma does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law. For further information, please reference Royalty Pharma’s reports and documents filed with the U.S. Securities and Exchange Commission (“SEC”) by visiting EDGAR on the SEC’s website at www.sec.gov.

Royalty Pharma Investor Relations and Communications
+1 (212) 883-6637
[email protected]

Blackstone
David Vitek
(212) 583-5291
[email protected]

• Novavax has successfully achieved U.S. BLA approval and completed both EU and U.S. marketing authorization transfers for Nuvaxovid™ to Sanofi in line with its CLA and its corporate strategy, securing a total of $225 million in non-dilutive capital year-to-date 2025

GAITHERSBURG, Md., Nov. 4, 2025 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX) has completed the transfer of the U.S. marketing authorization for its COVID-19 vaccine, Nuvaxovid™ to Sanofi, enabling Sanofi to take full responsibility for commercial and regulatory activities in the U.S. and fulfilling part of its collaboration and license agreement (CLA). The transfer triggered the second of two $25 million marketing authorization transfer milestone payments to Novavax, following the European Union (EU) transfer completed in October 2025.

"With the successful achievement of our BLA approval and completion of both U.S. and EU marketing authorization transfers for Nuvaxovid™ to Sanofi, we have delivered on our partnership agreement and secured $225 million in additional milestone revenue to date," said John C. Jacobs, President and Chief Executive Officer, Novavax. "We look forward to Sanofi's success in globally marketing our protein-based, non-mRNA COVID-19 vaccine in the years to come."

Novavax is eligible to receive additional future milestones and royalties under the CLA related to Nuvaxovid, combination products developed by Sanofi using Nuvaxovid and new vaccines created by Sanofi utilizing Novavax's Matrix-M^® adjuvant.

VACCINE AUTHORIZATION (U.S.)
Nuvaxovid is a vaccine indicated for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals 65 years of age and older, or 12 years through 64 years of age with at least one underlying condition that puts them at high risk for severe outcomes from COVID-19. 

IMPORTANT SAFETY INFORMATION
Contraindications 

• Do not administer Nuvaxovid to individuals with a known history of severe allergic reaction (e.g., anaphylaxis) to any component of Nuvaxovid or to individuals who had a severe allergic reaction (e.g., anaphylaxis) following a previous dose of Novavax COVID-19 Vaccine, Adjuvanted. 

Warnings and Precautions

• Management of Acute Allergic Reactions: Appropriate medical treatment must be immediately available to manage potential anaphylactic reactions following administration of Nuvaxovid. 
• Myocarditis and Pericarditis: Clinical trials data provide evidence for increased risks of myocarditis and pericarditis following administration of Nuvaxovid. There have been post-marketing reports of myocarditis and pericarditis following administration of Nuvaxovid. The Centers for Disease Control and Prevention has published considerations related to myocarditis and pericarditis after vaccination, including for vaccination of individuals with a history of myocarditis or pericarditis(https://www.cdc.gov/vaccines/covid-19/clinical-considerations/myocarditis.html). 
• Syncope (fainting): Syncope (fainting) may occur in association with administration of injectable vaccines, including Nuvaxovid. Procedures should be in place to avoid injury from fainting. 
• Altered Immunocompetence: Immunocompromised persons, including individuals receiving immunosuppressive therapy, may have a diminished immune response to Nuvaxovid. 
• Limitations of Vaccine Effectiveness: Nuvaxovid may not protect all vaccine recipients. 

Adverse Reactions
The most commonly reported (>10%) solicited adverse reactions were injection site tenderness, injection site pain, injection site redness, headache, muscle pain, fatigue, malaise, joint pain, fever and nausea/vomiting. 

To report suspected adverse reactions, contact Novavax, Inc. at 1-844-668-2829 or the Vaccine Adverse Event Reporting System (VAERS) at 1-800-822-7967 or https://vaers.hhs.gov. 

About Novavax
Novavax, Inc. (Nasdaq: NVAX) tackles some of the world's most pressing health challenges with its scientific expertise in vaccines and its proven technology platform, including protein-based nanoparticles and its Matrix-M adjuvant. The Company's growth strategy seeks to optimize its existing partnerships and expand access to its proven technology platform via research and development innovation, organic portfolio expansion in infectious disease and beyond, and forging new partnerships and collaborations with other companies. Please visit novavax.com and LinkedIn for more information.

Forward-Looking Statements
Statements herein relating to the future of Novavax, its operating plans and prospects, the possible achievement of additional milestones or receipt of milestone payments or royalties under the CLA, future marketing initiatives and the potential development and commercialization of Sanofi combination products, and efforts to pursue additional partnerships, are forward-looking statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, challenges related to Novavax's partnership with Sanofi and in pursuing additional partnership opportunities; challenges satisfying, alone or together with partners, various safety, efficacy and product characterization requirements, including those related to process qualification and assay validation, necessary to satisfy applicable regulatory authorities; difficulty obtaining scarce raw materials and supplies; resource constraints, including human capital and manufacturing capacity, on the ability of Novavax to pursue planned regulatory pathways; challenges or delays in obtaining regulatory authorization for future COVID-19 variant strain changes; challenges or delays in clinical trials; manufacturing, distribution or export delays or challenges; Novavax's exclusive dependence on Serum Institute of India Pvt. Ltd. for co-formulation and filling and the impact of any delays or disruptions in their operations on the delivery of customer orders; and those other risk factors identified in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Novavax's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequent Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission (SEC). We caution investors not to place considerable reliance on forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov and www.novavax.com, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of the statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Contacts:

Investors
Luis Sanay, CFA
240-268-2022
[email protected]

Media
Yvonne Sprow
240-720-7804 
[email protected]

 

SOURCE Novavax, Inc.