Nuron Biotech has secured $80m finance from HealthCare Royalty Partners to support the commercialization and expansion of its Meningitec, a recently acquired vaccine from Pfizer.
Meningitec is an established commercial vaccine to prevent invasive disease caused by Neisseria meningitidis serogroup C.
Nuron will also use the funds for clinical development of its new biologics and vaccines for infectious and neurodegenerative diseases, including HibTITER and NU100, a multiple sclerosis treatment.
The financing includes $30m equity investment as well as a $50m Synthetic Royalty agreement in relation to future sales of Meningitec, HibTITER, NU100 and other products.
Nuron Biotech chief executive officer and founder Shankar Musunuri said HC Royalty financing validates the recognized market opportunity for Nuron's products and candidates in development.
"The successful closing of this transaction provides us the capital needed to execute our Meningitec commercial plan and reach key milestones in advancing our pipeline and in providing new treatment options for patients around the world," Musunuri added.
HC Royalty founding managing director Gregory Brown said, "We are confident that Nuron can build the infrastructure to expand Meningitec's market in Europe while capitalizing on new markets with unvaccinated and under-vaccinated populations.''
