BioCryst Pharmaceuticals ( BCRX ) agrees to sell its European Orladeyo (berotralstat) business to Neopharmed Gentili for up to $264 million.

Orladeyo (berotralstat) is the first and only oral therapy designed specifically to prevent attacks of hereditary angioedema (HAE) in adult and pediatric patients 12 years and older.

One capsule of Orladeyo per day works to prevent HAE attacks by decreasing the activity of plasma kallikrein.

BioCryst plans to use the proceeds from the transaction to retire all remaining term debt ($249 million) from Pharmakon, which will eliminate approximately $70 million of future interest payments.

The company now expects to end 2027 with approximately $700 million in cash and no term debt, an increase of $400 million from the prior 2027 net cash guidance.

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“This transaction is consistent with our strategy of making Orladeyo available to patients in Europe through the team we built, and it now provides the capital to retire our remaining term debt, leaving us with a significantly higher margin business. Our increased profitability puts us in an even stronger position to create value well into the next decade through sustainable Orladeyo growth, our pipeline, and potential external opportunities,” said Jon Stonehouse, president and CEO of BioCryst.

Neopharmed Gentili will pay BioCryst $250 million upfront for the European assets and rights related to Orladeyo and up to $14 million in future milestones associated with sales in Central and Eastern Europe.

Neopharmed Gentili is acquiring BioCryst’s European organization, enabling commercial continuity for Orladeyo and resulting in at least $50 million in expected annual operating expense savings to BioCryst.

Neopharmed Gentili will be responsible for all royalties related to European sales in the territory.

European Orladeyo revenues will still be credited to BioCryst in determining global royalty tiers (no royalty due on global revenues >$550 million) and count towards the cap on the OMERS royalty.

Earlier in June, BioCryst announced that following a positive recommendation from the Zorginstituut Nederland, Orladeyo (berotralstat) has been approved for the routine prevention of hereditary angioedema (HAE) attacks in patients aged 12 years and older.

The reimbursement approval in the Netherlands marks national reimbursement for Orladeyo across all major European countries.

Price Action: BCRX stock is down 1.4% at $9.52 at the last check on Friday.

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