-- DRI Healthcare Trust (DHT-UN.TO) after trade Wednesday noted the announcement by KalVista Therapeutics that it entered into a definitive agreement to be acquired by Chiesi Group, an international research-focused biopharmaceutical group, and said it is looking at the implications for the deal for itself.
DRI Healthcare is entitled to worldwide net sales of all formulations of Ekterly (sebetralstat) under a royalty agreement with KalVista. Based on publicly available information, the KalVista transaction, if consummated, may constitute a change of control under DRI Healthcare's royalty agreement, it said.
It added: "DRI Healthcare is currently reviewing the announced transaction and evaluating its rights and obligations under the royalty agreement, including a put option and buyback provisions that may become exercisable in connection with the transaction. No determination has been made at this time with respect to any actions DRI Healthcare may take in connection with the transaction."
DRI units closed up $0.04 to $16.45 on the Toronto Stock Exchange.