Core Viewpoint - ADC Therapeutics has amended its royalty purchase agreement with HealthCare Royalty, enhancing strategic flexibility and reducing financial obligations related to potential change of control events [2][3]. Financial Terms - The change of control payment has been reduced from $750 million to $150 million until the end of 2027, and to $200 million thereafter [2][6]. - HealthCare Royalty will continue to receive royalties on sales by any acquirer until the original royalty cap is reached [2]. - HealthCare Royalty has been granted warrants to purchase approximately 9.8 million common shares at an exercise price of $3.81 per share, exercisable until December 31, 2030, with a lock-up period until the end of 2027 [2][3]. Product Overview - ZYNLONTA is a CD19-directed antibody drug conjugate that targets and kills tumor cells by delivering a potent payload that binds to DNA [5]. - The FDA and EMA have approved ZYNLONTA for treating adult patients with relapsed or refractory large B-cell lymphoma after two or more lines of systemic therapy [7][9]. Market Potential - ADC Therapeutics anticipates significant growth for ZYNLONTA starting in 2027, with potential peak revenue in the U.S. estimated to reach between $600 million to $1 billion annually, assuming compendia inclusion and regulatory approval [3]. - The confidence in ZYNLONTA's potential is bolstered by existing and upcoming clinical data, particularly in diffuse large B-cell lymphoma and other indolent lymphomas [3]. Company Background - ADC Therapeutics is a commercial-stage global leader in antibody drug conjugates, focused on transforming treatment for patients through its portfolio, including ZYNLONTA [8]. - The company is headquartered in Lausanne, Switzerland, with operations in New Jersey, and is committed to driving innovation in ADC development [10].

LAUSANNE, Switzerland, Feb. 23, 2026 /PRNewswire/ -- ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that it has entered into an amendment to its royalty purchase agreement with entities managed by HealthCare Royalty. ® Based on confidence in the long-term outlook for ZYNLONTA, ADC Therapeutics negotiated mutually beneficial updated terms with HealthCare Royalty, offering greater strategic flexibility to the Comp ...

Core Insights - Nanobiotix has entered into a royalty-based financing agreement with HealthCare Royalty, providing up to $71 million in non-dilutive capital to support its growth and development of nanotherapeutic platforms [1][2][5]. Financing Agreement Details - The agreement includes an upfront payment of $50 million, with an additional $21 million expected one year post-closing, contingent on certain conditions [7]. - The financing extends Nanobiotix's cash runway into early 2028, allowing the company to advance through critical milestones towards self-sustainability [5][6]. - HealthCare Royalty will receive a capped portion of milestones and royalties on sales of JNJ-1900 (NBTXR3), with repayment obligations structured around a defined portion of royalties on the first $1 billion of net sales [7][6]. Product Overview - JNJ-1900 (NBTXR3) is a novel oncology product utilizing functionalized hafnium oxide nanoparticles, administered via intratumoral injection and activated by radiotherapy [6][8]. - The product has shown promise in clinical trials, particularly in soft tissue sarcomas, and is being evaluated for multiple solid tumor indications [9][8]. Strategic Partnerships - Nanobiotix has engaged in a collaboration strategy to expand the development of JNJ-1900 (NBTXR3), including a partnership with The University of Texas MD Anderson Cancer Center for various clinical studies [10]. - In 2023, a global co-development and commercialization license agreement was established with Janssen Pharmaceutica NV, a Johnson & Johnson company [10]. Company Background - Nanobiotix is a late-stage clinical biotechnology company focused on innovative, physics-based therapeutic approaches to improve cancer treatment outcomes [11][12]. - The company is headquartered in Paris, France, and is listed on Euronext Paris and the Nasdaq Global Select Market [12].

Core Viewpoint - BridgeBio Pharma has entered into a royalty financing agreement, selling a portion of its royalties from BEYONTTRA sales in Europe for $300 million, which will provide immediate capital to support its operations and product launches [1][2][4]. Financial Details - The agreement allows BridgeBio to receive $300 million in exchange for 60% of royalties on the first $500 million of annual BEYONTTRA net sales in Europe, with total payments capped at 1.45 times the initial investment [3][4]. - BridgeBio has previously received $210 million in upfront and regulatory milestone payments from Bayer for BEYONTTRA and anticipates an additional $75 million in near-term milestone payments [4]. Product Information - BEYONTTRA is an orally administered stabilizer of transthyretin (TTR) for treating wild-type or variant transthyretin amyloidosis in adult patients with cardiomyopathy (ATTR-CM) [6][8]. - Acoramidis, the active ingredient in BEYONTTRA, has shown significant clinical benefits, including a 42% reduction in composite adverse cardiovascular events and a 50% reduction in cumulative frequency of cardiovascular events at 30 months compared to placebo [6]. Strategic Partnerships - The partnership with HealthCare Royalty and Blue Owl Capital is aimed at strengthening BridgeBio's balance sheet to support the launch of Attruby and its pipeline of genetic medicines [2][3]. - HCRx has expressed confidence in the commercial potential of BEYONTTRA and is committed to supporting innovation in the biopharmaceutical industry through this investment [3].