Royalty Pharma announces R&D funding collaboration with Biogen

Royalty Pharma (RPRX) announced that it has entered into an agreement with Biogen (BIIB) to provide research and development funding of up to $250M for litifilimab, a first-in-class investigational drug candidate in Phase 3 with demonstrated proof-of-concept in both systemic lupus erythematosus and cutaneous lupus erythematosus. Royalty Pharma will provide up to $250M over six quarters to Biogen to support the development of litifilimab in exchange for regulatory milestones and mid-single digit royalties on annual worldwide sales.