男人宫殿

男人宫殿 and HealthCare Royalty Enter into $250 Million Note Purchase Agreement Secured by NGENLA鈥檚 Profit Share Payments

MIAMI, July 17, 2024 (GLOBE NEWSWIRE) -- 男人宫殿. (NASDAQ: OPK)聽announces it has entered into a $250 million non-dilutive note purchase agreement with HealthCare Royalty (HCRx) secured by OPKO鈥檚 profit share payments from Pfizer received pursuant to its license agreement relating to NGENLA^鈩�, a once-weekly treatment currently marketed to treat pediatric growth hormone deficiency.

鈥淭his transaction with HCRx allows OPKO to retain a significant portion of NGENLA's profit share payments in the near term and provides upside over the long term. It also permits OPKO to maintain the full benefit of the $100 million of remaining potential milestone payments from Pfizer,鈥� said Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO. 鈥淎dditionally, it provides non-dilutive capital and financial flexibility to advance our research and development activities including our multispecific antibody programs, as well as potentially to repurchase shares of our common stock and convertible notes.鈥�

The $250 million note issued under the Note Purchase Agreement bears interest at the 3-month Secured Overnight Financing Rate (SOFR) subject to a 4.0% per annum floor, plus 7.5% per annum. The note has a final maturity date of July 2044 with the first four years requiring interest-only payments.

About HealthCare Royalty

HealthCare Royalty is a leading royalty acquisition company focused on commercial or near-commercial biopharmaceutical products. With offices in Stamford, Conn., San Francisco, Boston and London, HCRx has invested $5+ billion in over 85 biopharmaceutical products since inception. For more information, visit . HEALTHCARE ROYALTY庐 and HCRx庐 are registered trademarks of HealthCare Royalty Management, LLC.

About 男人宫殿

男人宫殿 is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise, and its novel and proprietary technologies. For more information, visit聽.

Cautionary Statement Regarding Forward Looking Statements

This press release contains 鈥渇orward-looking statements,鈥� as that term is defined under the Private Securities Litigation Reform Act of 1995 (鈥�PSLRA鈥�), including, among other things, statements related to the financing, the expected proceeds from such financing, the continued relationship with our commercial partners, and the success of the profit share. These forward-looking statements may be identified by words such as 鈥渆xpects,鈥� 鈥減lans,鈥� 鈥減rojects,鈥� 鈥渨ill,鈥� 鈥渕ay,鈥� 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渟hould,鈥� 鈥渋ntends,鈥� 鈥渆stimates,鈥� and other words of similar meaning. These statements are based on management鈥檚 current expectations and are subject to uncertainty and changes in circumstances. Many factors could cause the Company鈥檚 actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in the Company鈥檚 Annual Reports on Form 10-K filed and to be filed with the Securities and Exchange Commission and under the heading 鈥淩isk Factors鈥� in the Company鈥檚 other filings with the Securities and Exchange Commission, as well as the continuation and success of the Company鈥檚 relationship with the Company鈥檚 commercial partners, liquidity issues and the risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the Company does not undertake any obligation to update forward-looking statements. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

Contacts:
LHA Investor Relations
Yvonne Briggs, 310-691-7100

or
Bruce Voss, 310-691-7100

Released July 17, 2024