BridgeBio Pharma, Inc., a commercial-stage biopharmaceutical company, officialized an agreement with the German pharmaceutical and life sciences giant, Bayer. The exclusive license granted by BridgeBio gives Bayer the rights to commercialize acoramidis, a drug developed for patients with transthyretin amyloid cardiomyopathy (ATTR-CM), in Europe.
In return for this agreement, BridgeBio anticipates up to $310 million which includes immediate and near-term milestone payments. The deal also incorporates additional undisclosed sales milestones. Further, BridgeBio is set to receive royalties based on a tiered structure commencing in the low-thirties percentage on European sales of acoramidis.
Acoramidis is a investigational stabilizer, administered orally, and features as a next-generation, highly potent small molecule targetting transthyretin or TTR. The New Drug Application (NDA) for acoramidis, intended for the treatment of ATTR-CM, is acknowledged by the US Food and Drug Administration (FDA) with a scheduled action date of November 29, 2024. Concurrently, the European Medicines Agency (EMA) has accepted the Marketing Authorization Application (MAA) for the same, with a probable approval in the EU by 2025.
Ananth Sridhar, Senior Vice President of Corporate Development at BridgeBio Cardiorenal, expressed his thoughts on the partnership. He noted that the collaboration with Bayer not only leverages Bayer's established European cardiovascular infrastructure but also allows BridgeBio to concentrate on acoramidis in their entirely-owned geographies through considerable cost savings. This strategic move is expected to prepare BridgeBio for the drug's launch in the US.
