Sixth Street’s healthcare and life sciences team provides strategic capital and forms long-term partnerships with companies creating new technologies to address pressing healthcare challenges and improve patient care.Ĭlients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.Ĭooley has 1,500 lawyers across 17 offices in the United States, Asia and Europe, and a total workforce of 3,300. Blueprint Medicines (BPMC) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2023. The firm uses its long-term, flexible capital, data-enabled capabilities and one-team culture to develop themes and offer solutions to companies across all stages of growth. Sixth Street is a global investment firm with more than $60 billion in assets under management and committed capital. The two separate transactions bring the total investment to $1.25 billion for Blueprint Medicines. Separately, Blueprint Medicines entered into a transaction with Royalty Pharma, a buyer of biopharmaceutical royalties, which monetizes royalties receivable from GAVRETO net sales by Roche outside of the US, not including Greater China, with $175 million in cash paid to Blueprint Medicines upfront and up to $165 million in potential milestone payments based on future sales. The agreement with Sixth Street has three parts: $250 million cash upfront in exchange for future AYVAKIT/AYVAKYT and BLU-263 royalties at a rate of 9.75%, subject to an annual cap of $900 million in net sales and a cumulative cap of 1.45 times the invested capital up to $400 million in a senior secured credit facility, of which Blueprint Medicines will draw $150 million initially, with an additional $250 million available in delayed draw tranches at Blueprint Medicines’ election and $260 million in a potential credit facility to support buy-side business development opportunities, subject to mutual agreement between Sixth Street and Blueprint Medicines. The investment will provide capital for Blueprint Medicines, which trades on the Nasdaq Global Select Market under the symbol BPMC, to expand and advance the company’s robust and diverse pipeline toward commercialization and to continue pursuing strategic business development opportunities. Over the last year, Blueprint Medicines Corp has hit prices as high as 79.40 and as low as 37.82. During the month of March, Blueprint Medicines Corp’s stock price has reached a high of 48.95 and a low of 42.25. Lawyers Mischi a Marca, Matt Browne, Matt Scarano, Addison Pierce, Matt Kong and Nick Neuteufel led the Cooley team advising Sixth Street. Blueprint Medicines Corp’s ( BPMC) price is currently up 11.99 so far this month. ChatGPTs Use In Medicine Raises Questions Of Security, Privacy, Bias. San Francisco – J– Cooley advised global investment firm Sixth Street on its strategic investment in Blueprint Medicines, a global precision therapy company that invents life-changing therapies for people with cancer and blood disorders. Blueprint Medicines (BPMC) Stock Key Data. Blueprint Medicines is headquartered in Cambridge, Massachusetts, the US.įor a complete picture of BLU-451’s drug-specific PTSR and LoA scores, buy the report here.Sixth Street Invests in Blueprint Medicines The company utilizes its discover which combines bioinformatics and drug design capabilities to develop its medicines. Blueprint Medicines is advancing pralsetinib inhibitor against RET (Ret Proto-Oncogene) modified medullary thyroid carcinoma and other solid tumors and avapritinib to treat advanced systemic mastocytosis. ![]() ![]() The company product pipeline includes AYVAKIT (avapritinib) medicine to treat gastrointestinal stromal tumor (GIST) and GAVRETO (pralsetinib) against non-small cell lung cancer in adults, BLU-263 targeting indolent systemic mastocytosis. It is administered through oral route.īlueprint Medicines, formerly Hoyle Pharmaceuticals, is precision therapy company that inventing medicines for people with cancer and blood disorders. Blueprint Medicines (via Amplity Health) sept. In the first quarter of 2022, Ayvakit made Blueprint Medicines 23.8 million in global net revenue, and during the conference, Haviland said that Blueprint estimates between 115. ![]() BLU-451 (LNG-451) under development for the treatment of non-small cell lung cancer. It acts by targeting epidermal growth factor receptor (EGFR) with Exon 20 insertions.
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