DRI Capital buys royalty entitlement to sale of cancer drug
Canadian private equity firm DRI Capital has bought a portion of a royalty entitlement relating to the sales of Zytiga, a prostate cancer therapy. No financial terms were released. The seller in the deal was The Institute of Cancer Research, a London-based cancer research organisation, which is also entitled to a milestone payment if certain conditions are met. Zytiga is marketed by Johnson & Johnson. It reported the drug's global sales to be US$2.2 billion in 2015. Toronto-based DRI is currently investing from its third healthcare royalty fund, Drug Royalty III, which raised US$1.45 billion in 2013.
2 February 2016•4 mins read
