Atara Biotherapeutics sells portion of Ebvallo royalty rights to HCR for $31M cash

Atara Biotherapeutics, Inc.

HCR to pay $31M within 15 business days after Ebvallo European approval for rights to future royalties and milestones.
HCR receives tiered royalties (mid-single to significant double digits) and part of milestones from Pierre Fabre.
Total return to HCR capped at 185%–250% of investment, dependent on timing.
Atara retains remaining royalty and milestone interests under the Commercialization Agreement with Pierre Fabre.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Atara Biotherapeutics, Inc. entered into Purchase and Sale Agreement with HCR Molag Fund, L.P. valued at $31,000,000 (effective 2022-12-20).

Action: entry
Agreement: asset purchase
Counterparty: HCR Molag Fund, L.P.
Value: $31,000,000
Effective: 2022-12-20

Exact text from the filing

On December 20, 2022, Atara Biotherapeutics, Inc., a Delaware corporation (the “Company”), entered into a purchase and sale agreement (the “Purchase and Sale Agreement”) by and between the Company and HCR Molag Fund, L.P., a Delaware limited partnership (“HCR”), pursuant to which HCR agreed to pay $31,000,000 in cash to the Company in consideration for the Company’s right to receive a portion of future royalty payments and certain milestones for Ebvallo TM (tabelecleucel) in Europe due to the Company from Pierre Fabre Medicament (“Pierre Fabre”) under the terms of the Company’s Commercialization Agreement with Pierre Fabre, dated October 2021, as amended by Amendment No. 1 to the Commercialization Agreement dated September 27, 2022 (the “Commercialization Agreement”).

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Source: SEC EDGAR

accession 0001193125-22-309181

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