CPPIB buys royalty rights for cancer drug for up to $325 mln
Canada Pension Plan Investment Board has acquired rights to a portion of future royalties in venetoclax, a cancer treatment drug, from Australia's Walter and Eliza Hall Institute of Medical Research. CPPIB agreed to pay US$250 million in cash upfront and make potential milestone payments of up to US$75 million. The Institute will retain partial royalties in the treatment. CPPIB Managing Director John Graham said the deal is an "opportunity to expand CPPIB's global intellectual property program through the acquisition of royalty rights for this proven anti-cancer treatment." CPPIB has committed about $3 billion to IP investments since 2011.
27 July 2017•3 mins read
