Apellis Pharmaceuticals Inc. (NASDAQ:APLS) is one of the most promising stocks according to Wall Street analysts. On July 1, Apellis Pharmaceuticals announced a capped royalty purchase agreement with Sobi. Under this agreement, Apellis will receive up to $300 million in exchange for 90% of its future ex-US royalties for Aspaveli (systemic pegcetacoplan).
This non-dilutive financing includes an upfront payment of $275 million in cash and up to $25 million in milestone payments contingent upon European Medicines Agency/EMA approval of Aspaveli for C3 glomerulopathy (C3G) and primary immune complex membranoproliferative glomerulonephritis (IC-MPGN). Apellis will retain exclusive commercialization rights for systemic pegcetacoplan in the US, where it is marketed as EMPAVELI.
A biomedical scientist in a lab coat conducting research on biopharmaceutical compounds.
The transaction reinforces the shared confidence between Apellis and Sobi in the growth potential of Aspaveli/EMPAVELI in rare kidney diseases. Aspaveli/EMPAVELI is currently approved in the European Union, other global countries, and the US for the treatment of paroxysmal nocturnal hemoglobinuria/PNH, which is a rare blood disorder.
Apellis Pharmaceuticals Inc. is a commercial-stage biopharmaceutical company that discovers, develops, and commercializes novel therapeutic compounds for diseases with unmet needs.
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This article is originally published at Insider Monkey.
