Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, has announced a US$75 million royalty funding agreement with funds managed by RTW Investments, LP (RTW), subject to FDA approval of MOLBREEVI. The royalty financing will become available upon FDA’s approval of MOLBREEVI, and satisfaction of certain customary conditions. Under the terms of the agreement, RTW will receive a tiered single digit percentage of annual net sales of MOLBREEVI in the US for the treatment of autoimmune PAP, subject to a cap.
Latham & Watkins LLP represents RTW in the transaction with a corporate deal team led by Bay Area partner Todd Trattner, with associates Axel Magnusson and William Lane. Advice was also provided on tax matters by Los Angeles partner Eric Cho; and on capital markets matters by Orange County partner Drew Capurro.
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