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.

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