aibioZevra Therapeutics agrees to sell priority review voucher for $150 million
Tickers ZVRA
The company expects the sale to close within 30 to 45 days, subject to customary conditions including a Hart-Scott-Rodino waiting period.
Key facts
- Company
- Zevra Therapeutics, Inc. (NASDAQ: ZVRA)
- News type
- Financings
- Primary source
- Zevra Therapeutics, Inc. 8-K (2025-02-27)
Zevra Therapeutics, Inc. announced on February 27, 2025 that it entered into a definitive asset purchase agreement to sell its Rare Pediatric Disease Priority Review Voucher (PRV) for gross proceeds of $150 million upon closing. The company expects the closing to take place within 30 to 45 days, subject to customary closing conditions.
One of those conditions is expiration of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act (HSR).
Zevra received the voucher in September 2024, after the U.S. Food and Drug Administration approved MIPLYFFA (arimoclomol), which is indicated with miglustat for the neurological manifestations of Niemann-Pick disease type C in adult and pediatric patients 2 years of age and older.
Chief Financial Officer LaDuane Clifton called the sale proceeds "non-dilutive capital," meaning cash that does not come from issuing new shares. He said it would support the commercial launches of MIPLYFFA and OLPRUVA and the advance of the company's pipeline of product candidates.
Cantor Fitzgerald acted as Zevra's exclusive financial advisor, and Latham & Watkins LLP acted as its legal advisor on the transaction.