BioCryst Announces Sale of European ORLADEYO® (berotralstat) Business to Neopharmed Gentili for up to $264 Million
—Neopharmed Gentili will pay BioCryst $250 million upfront for the European assets and rights related to ORLADEYO, and up to $14 million in future milestones—
—BioCryst plans to use proceeds to retire all remaining term debt, which will eliminate approximately $70 million of future interest payments over remaining life of the loan—
—With this transaction, BioCryst expects to end 2027 with approximately $700 million in cash and no term debt (an increase of $400 million from prior 2027 net cash guidance)—
RESEARCH TRIANGLE PARK, N.C., June 27, 2025 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) today announced that it has entered into a definitive agreement to sell its European ORLADEYO® (berotralstat) business to Neopharmed Gentili for up to $264 million.
BioCryst plans to use the proceeds from the transaction to retire all remaining term debt ($249 million) from Pharmakon, which will eliminate approximately $70 million of future interest payments.
The company now expects to end 2027 with approximately $700 million in cash and no term debt. This represents an increase of $400 million to prior 2027 net cash guidance.
"This transaction is consistent with our strategy of making ORLADEYO available to patients in Europe through the team we built, and it now provides the capital to retire our remaining term debt, leaving us with a significantly higher margin business. Our increased profitability puts us in an even stronger position to create value well into the next decade through sustainable ORLADEYO growth, our pipeline, and potential external opportunities," said Jon Stonehouse, president and chief executive officer of BioCryst.
"This transaction marks the beginning of a new path for Neopharmed Gentili, projecting the company onto the international stage and rare disease field, leveraging its deep Italian roots and welcoming a successful and experienced European team. This acquisition confirms and further strengthens our long-term growth trajectory, consolidating our position as a leading European specialty pharmaceutical company," said Alessandro Del Bono, president and chief executive officer of Neopharmed Gentili.
Transaction Details
Upon closing, which is expected by early October, Neopharmed Gentili will pay BioCryst $250 million upfront for the European assets and rights related to ORLADEYO, and up to $14 million in future milestones associated with sales in Central and Eastern Europe.
Neopharmed Gentili is acquiring BioCryst's European organization, which will enable commercial continuity for ORLADEYO and result in at least $50 million in expected annual operating expense savings to BioCryst.
Neopharmed Gentili will be responsible for all royalties related to European sales in the territory.
European ORLADEYO revenues will still be credited to BioCryst in determining global royalty tiers (no royalty due on global revenues >$550 million) and count towards the cap on the OMERS royalty.
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