Ropes & Gray Advises Radius Pharmaceuticals in Royalty Purchase Agreement with DRI Healthcare
Ropes & Gray advised Radius Pharmaceuticals, Inc., a wholly owned subsidiary of Radius Health, Inc., a specialty biopharmaceutical company focused on bone health, in a Royalty Purchase Agreement for a portion of Radius’s royalty and commercial milestone stream in elacestrant, a treatment approved for certain types of mutated advanced or metastatic breast cancer, with DRI Healthcare Acquisitions LP (DRI). The transaction was announced on August 14.
Under the agreement, Radius will receive an upfront payment of $130 million, is eligible to receive an additional $10 million from DRI upon the occurrence of certain events, and retains over $200 million in potential commercial milestones payable from the Menarini Group.
The Ropes & Gray team was led by IP transactions partner Melissa Rones, mergers & acquisitions counsel Michael Spera and IP transactions associates Nicole Rohr and Kate Donohue and included tax partner Pam Glazier.