Rhythm Pharmaceuticals, LG Chem Amend Bivamelagon License Agreement
The amendment sets royalties at 1% of global net sales of Rhythm MC4R agonists, including setmelanotide, bivamelagon and RM-718. Rhythm will pay LG Chem an additional $350 million over four years and secured a $750 million term loan.
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03:02:16 AM UTC
SquawkNews
Rhythm will pay LG Chem an additional $350M over four years and replace the prior low-to-mid-single-digit royalty structure with a 1% royalty. It also announced a five-year loan facility of up to $750M, with $500M committed; closing is expected Nov. 6, subject to customary conditions.Material Detai…
Amendment revised royalty structure from low-to-mid-single digits to 1% on global net sales of Rhythm MC4R agonists, including setmelanotide, bivamelagon and RM-718 ---- Rhythm to pay LG Chem additional fixed payments totaling $350 million over four years ---- Rhythm secures $750 million term-lo…