Kodiak Sciences Announces Sale of Future Royalties on KSI-301 for $225 Million to Baker Bros. Advisors
Kodiak Sciences Inc (KOD)
Last kodiak sciences inc earnings: 11/12 05:30 am
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Source: PR Newswire
PALO ALTO, Calif., Dec. 2, 2019 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD) today announced that the Company has entered into a funding agreement to sell a capped royalty right on global net sales of KSI-301 to Baker Bros. Advisors for $225 million. KSI-301 is Kodiak's investigational therapy being developed for the treatment of retinal vascular diseases including age-related macular degeneration and diabetic eye diseases.Under the terms of the agreement, Baker Bros. Advisors (BBA) purchased a capped 4.5% royalty on net sales of the Company's anti-VEGF antibody biopolymer conjugate therapy known as KSI-301 to be paid upon marketing approval in exchange for $225,000,000 in committed development funding payable to the Company (the "funding amount"). Unless earlier terminated or re-purchased by the Company, the royalty "caps" or terminates upon the date that BBA has received an aggregate amount equal to 4.5 times the funding amount paid to the Company. In an instance where Kodiak
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KOD
Earnings
- 5/15/24 - Beat
KOD
Sec Filings
- 5/15/24 - Form 10-Q
- 5/15/24 - Form 8-K
- 4/23/24 - Form ARS
- KOD's page on the SEC website