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Ultragenyx Enters into Agreement to Sell Rare Pediatric Disease Priority Review Voucher for $203 Million

RARE
  • Ultragenyx Pharmaceutical Inc. entered a definitive agreement to sell a Rare Pediatric Disease Priority Review Voucher (PRV) for $203 million.
  • The voucher was earned following FDA approval of FAYUVI™ (rebisufligene etisparvovec-hopf), the first treatment for mucopolysaccharidosis type IIIA.
  • Chief Financial Officer Howard Horn stated the sale provides non-dilutive funding to support innovation & the goal of achieving profitability.
  • The transaction closing is subject to customary conditions, including the expiration of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act.
  • Jefferies LLC served as exclusive financial advisor, while Gibson, Dunn & Crutcher LLP acted as legal counsel for Ultragenyx.
  • The PRV program allows sponsors of rare pediatric disease drugs to redeem or sell vouchers for priority review of subsequent marketing applications.