Ballard Spahr Represents S*BIO Pte Ltd in Sale of Royalty Interest in Cancer Drug for $66 Million
Ballard Spahr represented privately held biotech company S*BIO Pte Ltd in selling a royalty interest in the worldwide net sales of oral cancer treatment VONJO for $66 million to DRI Healthcare Trust, a leading provider of financing to advance innovation in the life sciences industry.
VONJO is an oral, small-molecule JAK2 inhibitor currently marketed by Swedish Orphan Biovitrum AB. The drug is used to treat patients with myelofibrosis, a type of bone marrow cancer, who suffer severe thrombocytopenia, a potentially life-threatening condition that occurs when blood platelet count is too low. VONJO was approved by the U.S. Food and Drug Administration in February 2022 and is the only approved treatment for the indication.
The Ballard Spahr team that represents S*BIO Pte Ltd is led by Ryan Udell, co-leader of the firm’s Life Sciences Industry Team, and includes Scott D. Marty, Ph.D., John J. Eagan, and Adam J. Chelminiak.
The transaction is subject to customary closing conditions and is expected to close by the end of July.
For more details, see the press release from DRI Healthcare Trust.