BioCryst Announces Sale of European ORLADEYO® (berotralstat) Business to Neopharmed Gentili for up to $264 Million

Core Viewpoint - BioCryst Pharmaceuticals has entered into a definitive agreement to sell its European ORLADEYO business to Neopharmed Gentili for up to $264 million, which includes $250 million upfront and up to $14 million in future milestones [1][8] Financial Impact - BioCryst plans to use the proceeds from the transaction to retire all remaining term debt of $249 million, eliminating approximately $70 million in future interest payments [2][8] - The company expects to end 2027 with approximately $700 million in cash and no term debt, an increase of $400 million from prior net cash guidance [2][8] Strategic Rationale - The transaction aligns with BioCryst's strategy to make ORLADEYO available to patients in Europe while providing capital to retire debt, resulting in a higher margin business [3] - Neopharmed Gentili aims to leverage this acquisition to enhance its position in the rare disease field and strengthen its growth trajectory as a leading European specialty pharmaceutical company [4] Operational Efficiency - The acquisition will enable commercial continuity for ORLADEYO and is expected to result in at least $50 million in annual operating expense savings for BioCryst [8] Advisory and Legal Support - BofA Securities, Inc. and TD Cowen are serving as financial advisors to BioCryst, while Centerview Partners UK LLP is acting as exclusive financial advisor to Neopharmed Gentili [6]