Royalty Pharma To Acquire Royalties And Milestones On Frexalimab Owned By ImmuNext For ~$525M In Cash Including Estimated Transaction Costs

Under the terms of ImmuNext's licensing agreement with Sanofi, ImmuNext is entitled to receive an upward tiering net royalty ranging from a high-single digit to low-double digit percentage of worldwide net sales of frexalimab. As a result of today's announced transaction, Royalty Pharma will receive 100% of net royalties on annual worldwide net sales of frexalimab of up to $2.0 billion and share a minority of the royalties above this threshold with ImmuNext shareholders.

In addition, the acquisition will include substantial potential milestone payments from Sanofi. Royalty Pharma estimates frexalimab, if approved, will generate royalties through 2041.

Frexalimab, in development by Sanofi, is a first-in-class, second generation anti-CD40 ligand monoclonal antibody.