Pharma BD Deal Intelligence
BioCryst extracted a lean $70M upfront plus up to $275M in milestones and 18%-30% royalties by licensing European rights to navenibart to Neopharmed Gentili, deepening a 2025 ORLADEYO tie-up while retaining all rights outside Europe.
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Navenibart is in Phase 3 clinical development with top line data from the pivotal ALPHA-ORBIT trial expected in early 2027. The program is on track to support…
BioCryst will receive $70M upfront and will be eligible to receive up to $275M in future regulatory and sales milestone payments. BioCryst will also receive…
BioCryst (NASDAQ: BCRX) licenses navenibart in Europe for $70M upfront. The expansion leverages Neopharmed Gentili's existing European HAE infrastructure built…
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BioCryst granted an Irish affiliate of Neopharmed Gentili exclusive rights to commercialize navenibart for hereditary angioedema in Europe. BioCryst receives $70M upfront, up to $275M in regulatory and sales milestones, and tiered royalties of 18% to 30% on net sales. Builds on the prior 2025 sale of BioCryst's European ORLADEYO business to Neopharmed Gentili.
10K US cases/yr · $2.2B Estimated 2024 US HAE prophylaxis market (Takhzyro + Orladeyo + Haegarda + Cinryze)
Hereditary angioedema is a rare autosomal-dominant disorder caused by C1-inhibitor deficiency (Types 1/2) or factor XII-related mutations (HAE-nC1INH), leading to unpredictable, painful subcutaneous and submucosal swelling attacks and life-threatening laryngeal edema. Dysregulated plasma kallikrein activation drives bradykinin overproduction; prophylactic kallikrein inhibition is the dominant treatment paradigm.
Europe HAE prophylaxis is dominated by Takeda's Takhzyro (lanadelumab, monthly SC), CSL Behring's Haegarda/Cinryze (C1-INH replacement), and BioCryst's own ORLADEYO (oral berotralstat, now Neopharmed-owned in EU). Navenibart's Q3M/Q6M dosing is the key differentiator versus all incumbents and pipeline (Kalvista's sebetralstat, Astria's STAR-0215 / now-acquired). Neopharmed gets EU rights to a potentially best-in-class long-acting agent.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Neopharmed Gentili S.p.A. (Irish affiliate) / BioCryst Pharmaceuticals, Inc. (this deal) | 2026 | $345M | — |
| Shire plc / Dyax Corp. | 2016 | $5.9B | 89 |
| Horizon Pharma plc / Hyperion Therapeutics, Inc. | 2015 | $1.1B | 79 |
| Shire plc / NPS Pharmaceuticals | 2015 | $5.2B | 78 |
| AstraZeneca PLC / Amolyt Pharma | 2024 | $1.1B | 73 |
| Sanofi SA / Inhibrx Inc. | 2024 | $2.2B | 70 |
| Eli Lilly and Company / Hanmi Pharmaceutical Co. Ltd. | 2026 | $1.3B | 65 |
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