BioCryst Announces Sale of European ORLADEYO® (berotralstat) Business to Neopharmed Gentili for up to $264 Million
BioCryst Pharmaceuticals (Nasdaq: BCRX) has agreed to sell its European ORLADEYO® business to Neopharmed Gentili for up to $264 million, comprising a $250 million upfront payment and up to $14 million in future milestones.
The company plans to use the proceeds to retire its remaining $249 million term debt from Pharmakon, eliminating approximately $70 million in future interest payments. BioCryst expects to end 2027 with approximately $700 million in cash and no term debt, representing a $400 million increase from prior guidance.
The transaction, expected to close by early October, includes the transfer of BioCryst's European organization to Neopharmed Gentili, resulting in projected annual operating expense savings of at least $50 million for BioCryst.
BioCryst Pharmaceuticals (Nasdaq: BCRX) ha deciso di cedere la sua attività europea di ORLADEYO® a Neopharmed Gentili per un importo fino a 264 milioni di dollari, comprendente un pagamento iniziale di 250 milioni di dollari e fino a 14 milioni di dollari in milestone future.
L'azienda intende utilizzare i proventi per estinguere il suo residuo debito a termine di 249 milioni di dollari con Pharmakon, eliminando circa 70 milioni di dollari di pagamenti di interessi futuri. BioCryst prevede di chiudere il 2027 con circa 700 milioni di dollari in contanti e senza debiti a termine, rappresentando un aumento di 400 milioni di dollari rispetto alle precedenti previsioni.
L'operazione, che dovrebbe concludersi entro i primi di ottobre, include il trasferimento dell'organizzazione europea di BioCryst a Neopharmed Gentili, con un risparmio previsto sui costi operativi annui di almeno 50 milioni di dollari per BioCryst.
BioCryst Pharmaceuticals (Nasdaq: BCRX) ha acordado vender su negocio europeo de ORLADEYO® a Neopharmed Gentili por hasta 264 millones de dólares, que incluye un pago inicial de 250 millones de dólares y hasta 14 millones de dólares en hitos futuros.
La compañía planea usar los ingresos para cancelar su deuda a plazo restante de 249 millones de dólares con Pharmakon, eliminando aproximadamente 70 millones de dólares en pagos de intereses futuros. BioCryst espera terminar 2027 con aproximadamente 700 millones de dólares en efectivo y sin deuda a plazo, lo que representa un aumento de 400 millones de dólares respecto a la guía anterior.
La transacción, que se espera cerrar a principios de octubre, incluye la transferencia de la organización europea de BioCryst a Neopharmed Gentili, lo que resultará en un ahorro proyectado en gastos operativos anuales de al menos 50 millones de dólares para BioCryst.
BioCryst Pharmaceuticals (나스닥: BCRX)는 유럽 내 ORLADEYO® 사업을 Neopharmed Gentili에 최대 2억 6,400만 달러에 매각하기로 합의했으며, 여기에는 2억 5,000만 달러의 선불금과 최대 1,400만 달러의 미래 마일스톤이 포함됩니다.
회사는 이 자금을 Pharmakon에 남아 있는 2억 4,900만 달러의 만기 부채 상환에 사용할 계획이며, 이를 통해 약 7,000만 달러의 미래 이자 비용을 절감할 수 있습니다. BioCryst는 2027년 말에 약 7억 달러의 현금과 만기 부채 없는 상태를 예상하며, 이는 이전 가이드라인 대비 4억 달러 증가한 수치입니다.
이번 거래는 10월 초까지 완료될 예정이며, BioCryst의 유럽 조직이 Neopharmed Gentili로 이전되어 BioCryst에 연간 최소 5,000만 달러의 운영비 절감 효과가 기대됩니다.
BioCryst Pharmaceuticals (Nasdaq : BCRX) a accepté de vendre son activité européenne ORLADEYO® à Neopharmed Gentili pour un montant pouvant atteindre 264 millions de dollars, comprenant un paiement initial de 250 millions de dollars et jusqu'à 14 millions de dollars en jalons futurs.
La société prévoit d'utiliser les recettes pour rembourser sa dette à terme restante de 249 millions de dollars auprès de Pharmakon, éliminant ainsi environ 70 millions de dollars de paiements d'intérêts futurs. BioCryst s'attend à terminer l'année 2027 avec environ 700 millions de dollars en liquidités et sans dette à terme, ce qui représente une augmentation de 400 millions de dollars par rapport aux prévisions précédentes.
La transaction, dont la clôture est prévue début octobre, inclut le transfert de l'organisation européenne de BioCryst à Neopharmed Gentili, ce qui devrait permettre à BioCryst de réaliser des économies annuelles de frais d'exploitation d'au moins 50 millions de dollars.
BioCryst Pharmaceuticals (Nasdaq: BCRX) hat zugestimmt, sein europäisches ORLADEYO®-Geschäft für bis zu 264 Millionen US-Dollar an Neopharmed Gentili zu verkaufen, bestehend aus einer Anzahlung von 250 Millionen US-Dollar und bis zu 14 Millionen US-Dollar an zukünftigen Meilensteinen.
Das Unternehmen plant, die Erlöse zur Tilgung seiner verbleibenden 249 Millionen US-Dollar Terminschuld bei Pharmakon zu verwenden, wodurch etwa 70 Millionen US-Dollar an zukünftigen Zinszahlungen eingespart werden. BioCryst erwartet, Ende 2027 etwa 700 Millionen US-Dollar in bar und keine Terminschulden zu haben, was eine Steigerung von 400 Millionen US-Dollar gegenüber der vorherigen Prognose darstellt.
Die Transaktion, die voraussichtlich Anfang Oktober abgeschlossen wird, beinhaltet die Übertragung der europäischen Organisation von BioCryst an Neopharmed Gentili, was für BioCryst eine prognostizierte jährliche Betriebskosteneinsparung von mindestens 50 Millionen US-Dollar bedeutet.
- Immediate $250 million upfront payment plus potential $14 million in future milestones
- Complete elimination of $249 million term debt, saving $70 million in future interest payments
- Expected annual operating expense reduction of at least $50 million
- Projected $700 million cash position by 2027, a $400 million improvement from previous guidance
- European ORLADEYO revenues will still count towards global royalty tiers and OMERS royalty cap
- Loss of direct control over European ORLADEYO business and associated revenues
- Transfer of entire European organization to Neopharmed Gentili
Insights
BioCryst's $264M European ORLADEYO sale strengthens balance sheet, eliminates debt, and improves long-term profitability by reducing operational costs.
BioCryst's
This debt elimination is particularly notable as it will save BioCryst approximately
The financial impact is substantial - BioCryst now projects to end 2027 with approximately
From a strategic perspective, BioCryst achieves multiple objectives: monetizing European assets at an attractive valuation, substantially deleveraging its balance sheet, and creating a leaner operational structure with higher margins. The retention of global royalty tier calculations based on European sales is an important provision that preserves potential future economics as ORLADEYO sales grow globally.
For investors, this transaction transforms BioCryst's financial outlook from one constrained by debt servicing to a cash-rich company with enhanced profitability and multiple pathways for future growth and value creation.
—Neopharmed Gentili will pay BioCryst
—BioCryst plans to use proceeds to retire all remaining term debt, which will eliminate approximately
—With this transaction, BioCryst expects to end 2027 with approximately
RESEARCH TRIANGLE PARK, N.C., June 27, 2025 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that it has entered into a definitive agreement to sell its European ORLADEYO® (berotralstat) business to Neopharmed Gentili for up to
BioCryst plans to use the proceeds from the transaction to retire all remaining term debt (
The company now expects to end 2027 with approximately
“This transaction is consistent with our strategy of making ORLADEYO available to patients in Europe through the team we built, and it now provides the capital to retire our remaining term debt, leaving us with a significantly higher margin business. Our increased profitability puts us in an even stronger position to create value well into the next decade through sustainable ORLADEYO growth, our pipeline, and potential external opportunities,” said Jon Stonehouse, president and chief executive officer of BioCryst.
“This transaction marks the beginning of a new path for Neopharmed Gentili, projecting the company onto the international stage and rare disease field, leveraging its deep Italian roots and welcoming a successful and experienced European team. This acquisition confirms and further strengthens our long-term growth trajectory, consolidating our position as a leading European specialty pharmaceutical company,” said Alessandro Del Bono, president and chief executive officer of Neopharmed Gentili.
Transaction Details
- Upon closing, which is expected by early October, Neopharmed Gentili will pay BioCryst
$250 million upfront for the European assets and rights related to ORLADEYO, and up to$14 million in future milestones associated with sales in Central and Eastern Europe. - Neopharmed Gentili is acquiring BioCryst’s European organization, which will enable commercial continuity for ORLADEYO and result in at least
$50 million in expected annual operating expense savings to BioCryst. - Neopharmed Gentili will be responsible for all royalties related to European sales in the territory.
- European ORLADEYO revenues will still be credited to BioCryst in determining global royalty tiers (no royalty due on global revenues >
$550 million ) and count towards the cap on the OMERS royalty.
- European ORLADEYO revenues will still be credited to BioCryst in determining global royalty tiers (no royalty due on global revenues >
BofA Securities, Inc. and TD Cowen are serving as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to BioCryst.
Centerview Partners UK LLP is acting as exclusive financial advisor and White & Case LLP is acting as legal advisor to Neopharmed Gentili.
Conference Call and Webcast
BioCryst management will host a conference call and webcast at 8:30 a.m. ET today to discuss the transaction. The live call may be accessed by dialing 1-844-481-2942 for domestic callers and 1-412-317-1866 for international callers. A live webcast and replay of the call will be available online in the investors section of the company website at www.biocryst.com.
About BioCryst Pharmaceuticals
BioCryst Pharmaceuticals is a global biotechnology company with a deep commitment to improving the lives of people living with hereditary angioedema and other rare diseases. BioCryst leverages its expertise in structure-guided drug design to develop first-in-class or best-in-class oral small-molecule and protein therapeutics to target difficult-to-treat diseases. BioCryst has commercialized ORLADEYO® (berotralstat), the first oral, once-daily plasma kallikrein inhibitor, and is advancing a pipeline of small-molecule and protein therapies. For more information, please visit www.biocryst.com or follow us on LinkedIn.
About Neopharmed Gentili
Neopharmed Gentili is a pharmaceutical company founded in Italy with historic roots in its territory, which is rapidly expanding beyond national borders thanks to a consolidated and reliable experience in M&A and licensing transactions, especially with multinational partners. Research, responsibility, and care are the pillars that guide Neopharmed Gentili’s mission to improve the health and quality of life of patients, caregivers, and healthcare personnel. Neopharmed Gentili’s ambition is to help people live long and healthy lives, acting with ethical value and scientific precision, and offering solutions with high therapeutic value. For more information, please visit www.neogen.it
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of, and subject to the safe harbor created by, the federal securities laws, including statements related to the proposed sale of BioCryst Ireland Limited (the “Company”) to Neopharmed Gentili S.p.A (the “Purchaser” and such sale, the “Transaction”), including financial estimates and statements as to the expected timing, completion and effects of the Transaction. These forward-looking statements are based on BioCryst’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by the Seller, all of which are subject to change. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “aims,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “considered,” “potential,” “estimate,” “continue,” “likely,” “target” or similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond BioCryst’s, the Company’s and the Purchaser’s control. BioCryst’s future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the benefits of the Transaction, including future financial and operating results and the Seller’s plans, objectives, expectations, intentions, growth strategies and culture and other statements that are not historical facts. Some of the factors that could affect the forward-looking statements contained herein include: (i) the completion of the Transaction on anticipated terms and timing, including obtaining required regulatory approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the ability of the Purchaser to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; (iii) the risk that disruptions from the Transaction will harm the Seller’s business, including current plans and operations; (iv) the ability of the Seller to retain and hire key personnel; (v) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vi) continued availability of capital and financing and rating agency actions; (vii) legislative, regulatory and economic developments affecting BioCryst’s and the Company’s businesses; (viii) general economic and market developments and conditions; (ix) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction that could affect BioCryst’s financial performance; (x) certain restrictions during the pendency of the Transaction that may impact BioCryst’s ability to pursue certain business opportunities or strategic transactions; (xi) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, pandemics, outbreaks of war or hostilities, as well as BioCryst’s response to any of the aforementioned factors; (xii) significant transaction costs associated with the Transaction; (xiii) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xiv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction; (xv) competitive responses to the Transaction; and (xvi) the risks and uncertainties pertaining to BioCryst’s and the Company’s businesses, including the commercial viability of ORLADEYO and its ability to achieve sustained market acceptance and demand. While the list of factors presented here is considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on BioCryst’s financial condition, results of operations, credit rating or liquidity. These forward-looking statements speak only as of the date they are made, and BioCryst does not undertake to and specifically disclaims any obligation to publicly release the results of any updates or revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Please refer to the documents BioCryst files periodically with the Securities and Exchange Commission, specifically BioCryst’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which identify important factors that could cause actual results to differ materially from those contained in BioCryst’s projections and forward-looking statements.
BCRXW
Contact:
John Bluth
+1 919 859 7910
jbluth@biocryst.com
FAQ
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