KalVista secures up to $179M synthetic royalty financing with DRI for sebetralstat launch

KalVista Pharmaceuticals, Inc.

Upfront payment of $100M; potential total up to $179M including $22M optional approval payment and $57M sales milestone.
Tiered royalties: 5% on net sales up to $500M, 1.1% on $500M-$750M, 0.25% above $750M; rate increases if optional payment taken.
Additional $22M optional if US approval by Sep 30, 2025; PDUFA date June 17, 2025 for sebetralstat (oral HAE therapy).
DRI expressed non-binding interest in up to $5M private placement of KalVista common stock.
Royalty financing non-dilutive; proceeds to fund commercial launch of sebetralstat.

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