BRAIN Biotech AG concludes major pharma compound transaction valued up to EUR 128.88 million from its BioIncubator

EQS-News: BRAIN Biotech AG / Key word(s): Contract BRAIN Biotech AG concludes major pharma compound transaction valued up to EUR 128.88 million from its BioIncubator 20.09.2024 / 19:50 CET/CEST The issuer is solely responsible for the content of this announcement. BRAIN Biotech AG concludes major pharma compound transaction valued up to EUR 128.88 million from its BioIncubator

• Total transaction value up to EUR 128.88 million significantly exceeding current market capitalization of BRAIN Biotech
• Immediate upfront payment of EUR 18.41 million
• Royalty monetization of an investigational compound, deucrictibant, with market leading Royalty Pharma
• Contractual milestone payments of up to EUR 9.0 million for the nearer-term clinical progress stay with BRAIN Biotech

 

Zwingenberg, Germany, 20 September 2024 – BRAIN Biotech AG (“Company”) concluded a royalty monetization deal on the royalty rights to an investigational compound, deucrictibant, with Royalty Pharma for up to EUR 128.88 million. The Company will receive an upfront payment of EUR 18.41 million, additional potential regulatory milestones of up to EUR 18.42 million and additional potential long-term sales related milestones of up to EUR 92.05 million.

Adriaan Moelker, CEO of BRAIN Biotech AG, states: "This is truly a milestone transaction in the history of BRAIN Biotech. We have always believed in the high value of our BioIncubator projects and are now starting to increasingly harvest the strong pipeline investments of the past. This transaction with market leader Royalty Pharma has not only confirmed our value assumptions of deucrictibant but also allowed us to significantly forward cash proceeds from this exciting project. With the proceeds we will accelerate the ongoing transformation of BRAIN Biotech to a global top ten player in the highly attractive market of industrial enzymes. We will continue to focus here on our core areas of Food, Beverage and Life Sciences with a very strong heritage in scientific excellence."