KalVista Closes Royalty Financing Deal with DRI Healthcare, Prices $55 Million Offering

MT Newswires Live11-05

KalVista Pharmaceuticals (KALV) said Monday it closed a royalty financing deal with DRI Healthcare Trust for up to $179 million.

The deal consists of a $100 million upfront payment, a one-time $22 million optional payment upon US product approval, and up to $57 million in a sales-based milestone payment, the company said.

KalVista said it will use the proceeds to fund the commercialization of sebetralstat, a potential treatment for hereditary angioedema, a rare genetic disease.

DRI is also interested in investing up to $5 million in KalVista's common shares in a private placement transaction, the company said.

Separately, KalVista said it priced an offering of 5.5 million common shares at $10 each for expected gross proceeds of $55 million.

The company expects to close the offering and private placement Tuesday.

KalVista shares were up more than 12% in recent trading.

Price: 11.95, Change: +1.34, Percent Change: +12.58

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