Esperion announces it entered into Royalty Purchase Agreement with OMERS

Esperion (ESPR) announced that it has entered into a Royalty Purchase Agreement with OMERS Life Sciences, under which Esperion received approximately $304.7 million in cash from OMERS in exchange for 100% interest, subject to a cap, in Esperion’s royalty entitlement on Daiichi Sankyo (DSNKY) Europe’s, DSE, net sales of bempedoic acid products in the European territories for which DSE has an exclusive license from Esperion. Under the terms of the Agreement, OMERS will receive this tiered royalty, which ranges from 15-25% of net bempedoic acid product sales in Europe, until it has received an aggregate amount equal to 1.7x investment. Thereafter, all future DSE royalties will revert back to Esperion. Esperion will continue to receive any earned sales-based milestone payments following the first achievement of defined net sales under the DSE agreement, which could cumulatively amount to up to $300 million in potential future payments.