InvestmentApr 13, 2026, 10:01 AM
Royalty Pharma Funds $250M to Revolution Medicines on Positive Trial
AI Summary
Revolution Medicines announced positive Phase 3 results for daraxonrasib in metastatic pancreatic ductal adenocarcinoma, meeting all primary and key secondary endpoints. This success triggered an additional $250 million funding tranche from Royalty Pharma to Revolution Medicines, bringing Royalty Pharma's total funding to $500 million. With this tranche, Royalty Pharma is now entitled to tiered royalties starting at 4.55% on daraxonrasib sales up to $2 billion. Revolution Medicines plans to submit these data to global regulatory authorities, including the FDA.
Key Highlights
- Revolution Medicines' daraxonrasib Phase 3 trial met all primary and key secondary endpoints.
- Royalty Pharma funded an additional $250 million to Revolution Medicines.
- Total funding from Royalty Pharma to Revolution Medicines now stands at $500 million.
- Royalty Pharma's tiered royalty rate starts at 4.55% on daraxonrasib sales up to $2 billion.
- An additional $750 million in synthetic royalty funding is available to Revolution Medicines.