08:28 AM EST, 11/04/2024 (MT Newswires) -- DRI Healthcare Trust (DHT-UN.TO, DHT-U.TO) said Monday it has acquired a royalty interest in the global net sales of all formulations of sebetralstat from KalVista Pharmaceuticals, for up to US$179 million.

The payment consists of a US$100 million upfront payment, up to US$57 million in a sales-based milestone payment and a one-time US$22 million optional payment. The Trust is also participating in a US$5 million private placement in KalVista, for a total US$184 million investment.

If approved, sebetralstat would be the only oral on-demand therapy for treating attacks associated with hereditary angioedema (HAE), a rare genetic disorder that results in recurring episodes of severe swelling in various parts of the body, including the face, gastrointestinal tract, and airways. Sebetralstat was developed by Massachusetts-based KalVista.

The U.S. Food and Drug Administration has accepted KalVista's New Drug Application (NDA) submission for sebetralstat, and has set a Prescription Drug User Fee Act date of June 17, 2025. The European Medicines Agency has also validated the submission of the Marketing Authorization Application (MAA) for sebetralstat. KalVista has submitted MAAs in the UI.K., Switzerland, Australia, and Singapore.

KalVista will use the proceeds of this transaction to fund the continued clinical development and commercialization of sebetralstat.