09:44 AM EDT, 08/13/2026 (MT Newswires) -- OPKO Health ( OPK ) said Thursday it issued $125 million of additional senior secured notes to HealthCare Royalty, a business of KKR (KKR).

The notes, secured by OPKO's royalty interests arising from its mazdutide agreement with Eli Lilly ( LLY ) , will mature in 2044, matching the maturity of OPKO's existing notes with HealthCare Royalty, the company said.

The financing gives OPKO additional non-dilutive capital without issuing equity, while allowing it to retain future royalty income after total payments under the financing reach a cap of 1.5 times the amount funded, according to OPKO.

The company said Innovent Biologics is commercializing mazdutide in China, while OPKO receives royalties from commercial sales under its licensing agreement with Lilly.

OPKO said it began recognizing mazdutide royalty revenue in 2025.

Shares of OPKO were up 1.4% in Thursday trading, while KKR and Eli Lilly ( LLY ) were less than 1% higher.

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