Denali secures $275M royalty funding from Royalty Pharma on tividenofusp alfa

Denali Therapeutics Inc.

Royalty Pharma pays $200M at close conditional on FDA accelerated approval by June 30, 2026.
Additional $75M due upon EMA approval by Dec 31, 2029; royalty rate 9.25% on worldwide net sales.
Royalty ceases at 3.0x multiple (2.5x if reached by Q1 2039); Denali retains full rights.
PDUFA target date for tividenofusp alfa BLA is April 5, 2026; MPS II (Hunter syndrome) therapy.
Denali CFO states funds advance platform and launch preparation without dilution.

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

Denali Therapeutics Inc. entered into Royalty Agreement with Royalty Pharma plc valued at up to $275 million (effective 2025-12-04).

Action: entry
Counterparty: Royalty Pharma plc
Value: up to $275 million
Effective: 2025-12-04

Exact text from the filing

On December 4, 2025, Denali Therapeutics Inc. (“Denali” or the “Company”) entered into a synthetic royalty funding agreement (the “Royalty Agreement”) with Royalty Pharma plc (“Royalty Pharma”).

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Denali Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001714899-25-000208

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