DRI Capital acquires royalty interest in cancer drug for $150 mln
MRC Technology has sold a portion of its royalty interest in a cancer drug to Canadian private equity firm DRI Capital for US$150 million. The drug, pembrolizumab, is being marketed by Merck & Co Inc as Keytruda. It is a new treatment that stimulates the body’s immune system to fight cancer. Scientists at MRC, a British medical research charity, have supported development of the drug, which has been approved by U.S. regulators for treating advanced melanoma and non-small cell lung cancer. Toronto-based DRI made the investment via its third healthcare royalty fund, Drug Royalty III, which raised US$1.45 billion in late 2013.
15 July 2016•4 mins read
