DealsJun 3, 2026, 06:07 AM
Mineralys Therapeutics Amends License, Ends Royalties, Pays $200M
AI Summary
Mineralys Therapeutics, Inc. entered into a fourth amendment to its License Agreement with Tanabe Pharma Corporation, terminating all future royalty payments for lorundrostat and securing an exclusive, worldwide, royalty-free, perpetual license. This strategic move involved a one-time cash payment of $200.0 million and potential additional commercial milestone payments of up to $355.0 million. Concurrently, the company secured a new five-year senior secured term loan facility for up to $500.0 million, with an initial $100.0 million drawn on June 2, 2026, providing significant capital for its operations.
Key Highlights
- Mineralys Therapeutics amended its license agreement with Tanabe Pharma for lorundrostat.
- Terminated all future royalty payments to Tanabe Pharma for lorundrostat sales.
- Secured an exclusive, worldwide, royalty-free, perpetual license for lorundrostat.
- Made a one-time cash payment of $200.0 million to Tanabe Pharma.
- Agreed to additional commercial milestone payments of up to $355.0 million.
- Entered into a senior secured term loan facility for up to $500.0 million.
- Drew an initial Tranche A Loan of $100.0 million on June 2, 2026.
- The senior secured term loan facility matures on June 3, 2031.
Price Impact
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