GÖRG advises Heidelberg Pharma AG on Financing agreement with HealthCare Royalty

Munich, 27.03.2024

GÖRG Partnerschaft von Rechtsanwälten mbB, led by Munich partner Dr Bernt Paudtke, has advised Heidelberg Pharma AG in connection with a financing agreement with HealthCare Royalty (HCRx) in the amount of up to USD 115 million.

Heidelberg Pharma AG, a Ladenberg-based biotech company specialising in the development of innovative antibody drug conjugates, signed a financing agreement with HealthCare Royalty on a royalty basis. As a result, Heidelberg Pharma is entitled to up to USD 115 million from the sale of future licence fees for ZircaixTM (TLX250-CDx). ZircaixTM is a radiopharmaceutical imaging technology for the diagnosis and treatment of clear cell renal cell carcinoma using positron emission tomography (PET).

The main terms of the agreement between Heidelberg Pharma and HealthCare Royalty are as follows: At the time of signing, Heidelberg Pharma will receive an upfront payment of USD 25 million. Following FDA approval of ZircaixTM , Heidelberg Pharma is entitled to a maximum approval payment of up to USD 75 million. Heidelberg Pharma is also entitled to a milestone payment of USD 15 million if global net product sales of ZircaixTM exceed a certain level in calendar year 2025. Once HealthCare Royalty has received a maximum cumulative amount, the royalties will revert to Heidelberg Pharma, with HealthCare Royalty subsequently receiving a low single-digit percentage of royalties.

has received a maximum cumulative amount, the royalties will revert to Heidelberg Pharma, with HealthCare Royalty subsequently receiving a low single-digit percentage of royalties.

Advisors Heidelberg Pharma AG

GÖRG Partnerschaft von Rechtsanwälten mbB 
Dr. Bernt Paudtke (Lead, Partner, M&A / Corporate, Munich)
Tobias Reichenberger (Associated Partner, M&A / Corporate, Munich)
Dr. Stefan Heyder (Partner, M&A / Corporate, Munich) 
Dr. Katharina Landes (Partner, IP / IT, Cologne)
Moritz von Limburg, LL.B, LL.M. (UCT) (Associate, M&A /Corporate, Munich) 

About Heidelberg Pharma AG

Heidelberg Pharma specialises in oncological indications and is the first company to use and develop the active ingredient Amanitin for use in cancer therapies. The company uses its in-novative ATAC technology and utilises the toxin's biological mechanism of action as a new therapeutic principle. This proprietary technology platform is used to develop the company's own therapeutic antibody-drug conjugates and in collaborations with external partners. The most advanced product candidate, HDP-101, is a BCMA-ATAC for the indication multiple mye-loma, which is currently in clinical development. Further ATAC candidates are being developed against various target molecules such as CD37, PSMA or GCC in the indications non-Hodgkin's lymphoma, metastatic castration-resistant prostate cancer or gastrointestinal tu-mours such as colorectal cancer.

Heidelberg Pharma AG is a biopharmaceutical company based in Ladenburg, Germany, and is listed on the Frankfurt Stock Exchange: ISIN DE000A11QVV0 / WKN A11QVV / Symbol HPHA. Further information can be found at www.heidelberg-pharma.com.

ATAC® is a registered trademark of Heidelberg Pharma Research GmbH in the EU and the USA.

About HealthCare Royalty

HCRx is a leading royalty underwriting firm focused on commercial or near-market biopharma-ceutical products. HCRx has invested more than $5 billion in over 85 biopharmaceutical prod-ucts since its inception and has offices in Stamford, CT, San Francisco, Boston and London. For more information, visit https://www.hcrx.com/.

HEALTHCARE ROYALTY® and HCRx® are registered trademarks of HealthCare Royalty Man-agement, LLC. 

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