BridgeBio, Bayer announce European licensing agreement for acoramidis

BridgeBio (BBIO) and Bayer (BAYRY) announced a partnership wherein BridgeBio grants Bayer an exclusive license to commercialize acoramidis for ATTR-CM in Europe. In exchange, BridgeBio will receive up to $310M comprising of upfront and near-term milestone payments, as well as additional undisclosed sales milestones. BridgeBio will also receive royalties in a tiered structure beginning in the low-thirties percent on sales of acoramidis in Europe. Acoramidis is an investigational, next-generation, orally-administered, highly potent small molecule stabilizer of transthyretin, or TTR. The FDA has accepted BridgeBio’s NDA for acoramidis for the treatment of ATTR-CM with a PDUFA action date of November 29; additionally, the EMA has accepted the MAA for acoramidis with potential EU approval in 2025.