09:39 AM EDT, 06/28/2024 (MT Newswires) -- Esperion Therapeutics ( ESPR ) said Friday it signed a royalty purchase agreement with OMERS Life Sciences, receiving about $304.7 million in cash for 100% interest in its royalty entitlement on Daiichi Sankyo Europe's net sales of bempedoic acid products in Europe, subject to a cap.

As per agreement, OMERS will receive tiered royalties ranging from 15% to 25% of net sales until it reaches 1.7x its investment, after which royalties revert to Esperion, the company said.

Esperion said it will continue to receive sales-based milestone payments from Daiichi Sankyo Europe, potentially up to $300 million.

Funds from the transaction were used to pay off and terminate the Oberland Capital revenue interest facility, the company said.

Esperion shares were up more than 7% in early Friday trading.

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