Heidelberg Pharma Adjusts Royalty Financing with HealthCare Royalty

Heidelberg Pharma AG has amended its royalty financing agreement with HealthCare Royalty. The updated deal provides a USD 20 million payment, extending Heidelberg Pharma's cash runway into 2027. Originally, a USD 15 million sales-based milestone for 2025 was set, but it has been eliminated. The USD 75 million payment, contingent on FDA approval of TLX250-CDx, will now be USD 70 million with potential further reductions if approval is delayed beyond 2025.

The adjustment is due to delays in FDA approval of TLX250-CDx, a diagnostic imaging agent for renal cancer. Despite the setbacks, Telix Pharmaceuticals, the commercialization partner, has received FDA priority review for their Biologics License Application. Heidelberg Pharma anticipates further milestone payments by August.