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DRI Healthcare Trust Buys Tavapadon Royalty for $316 Million

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DRI Healthcare Trust (DHT-UN.TO, DHT-U.TO) agreed to buy certain royalty participation rights in US net sales of tavapadon, an investigational Parkinson's disease drug candidate, from funds managed by Bain Capital and NovaQuest Capital Management, it said in a statement on Monday.

The company will pay $316 million at closing, subject to the US Food and Drug Administration (FDA) approval of tavapadon and the satisfaction of other customary closing conditions, it said. It expects FDA approval in the third quarter of 2026.

DRI Healthcare will be entitled to receive tiered royalty payments on annual US net sales of tavapadon, at combined tiered, mid-single digit to low-double digit royalty rates following closing, it said. The company will also be entitled to receive certain sales milestone payments upon first reaching certain cumulative US net sales thresholds and four annual fixed payments of $23.4 million on the first four anniversaries of FDA approval of Tavapadon.

Price: $17.20, Change: $-0.06, Percent Change: -0.35%

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