Esperion Announces Monetization of European Royalties and Concurrent Payoff and Termination of Existing Revenue Interest Facility

Core Viewpoint - Esperion has entered into a Royalty Purchase Agreement with OMERS Life Sciences, receiving approximately $304.7 million in exchange for its royalty entitlement on Daiichi Sankyo Europe's net sales of bempedoic acid products in Europe, enhancing its financial position and operational flexibility [6][11]. Financial Details - The agreement allows OMERS to receive a tiered royalty ranging from 15-25% of net sales until it recoups 1.7 times its investment, after which royalties will revert to Esperion [2][11]. - Esperion retains rights to potential future milestone payments of up to $300 million based on commercial performance from its exclusive European licensee, Daiichi Sankyo Europe [2][11]. Strategic Implications - The transaction is described as transformational, providing Esperion with increased operational and financial flexibility while unencumbering its balance sheet from senior secured liens [7][11]. - The deal is expected to leverage an undervalued asset and underscores the potential for bempedoic acid products in Europe, aligning with Esperion's goal of addressing unmet medical needs [7][11]. Use of Proceeds - Funds from the transaction have been utilized for the early payoff and termination of the Oberland Capital revenue interest facility, further strengthening the company's financial position [3][6]. Company Vision - Esperion aims to optimize its U.S. commercialization efforts and build itself into a leading biopharmaceutical company focused on bringing new medicines to patients with unmet medical needs [4][7].