Royalty Pharma and Arteaus Therapeutics, a biotechnology development company co-founded by Atlas Venture and OrbiMed, announced today that Arteaus has sold its royalty interest on future global net sales of Eli Lilly and Company’s (NYSE: LLY) Emgality (galcanezumab), an anti-CGRP antibody for the prevention of migraine, to Royalty Pharma for $260 million.
Emgality was approved by the U.S. Food and Drug Administration on September 27, 2018 and by the European Medicines Agency on November 14, 2018. Emgality is an at-home, once monthly self-injection for the preventative treatment of episodic and chronic migraine in adults.
Wilmer Cutler Pickering Hale and Dorr LLP served as legal advisor to Arteaus. Jones Day and Maiwald served as legal advisors to Royalty Pharma.
This text is a press release from Royalty Pharma. The full text version of the article can be found here: https://www.royaltypharma.com/arteaus-therapeutics-sells-emgality-royalty-for-260-million/