other material
confidence high
sentiment positive
materiality 0.75
Apellis enters $275M royalty buy-down with Sobi; reduces Aspaveli royalties 90%
Apellis Pharmaceuticals, Inc.
- Sobi pays Apellis $275M upfront; up to $25M more on EMA approval of Aspaveli for C3G and IC-MPGN.
- Royalty obligations under Collaboration Agreement reduced by 90% from closing, subject to cap of 1.45x payments made.
- Sixth Street lenders consent to deal; Apellis extends prepayment premium periods on credit facility by one year.