BUZZ-Royalty Pharma falls after investing $250 mln in Biogen's lupus treatment

Reuters02-12

** Shares of biotech investor Royalty Pharma RPRX.O fall 1.3% to $31.81

** RPRX says it is providing up to $250 mln in funding to Biogen BIIB.O to support the development of litifilimab, a potential treatment for systemic lupus erythematosus $(SLE)$ and cutaneous lupus erythematosus $(CLE.AU)$

** SLE and CLE are two forms of the autoimmune disease lupus that affect multiple organs and the skin, respectively, and is currently in late-stage trial

** RPRX says the funding will be provided over six quarters in exchange for regulatory milestones and royalties on future worldwide sales of litifilimab

** Late-stage trial data are expected between 2026 and 2027

** RPRX fell 9.8% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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