Neurimmune announced today that it has sold a portion of its royalty interest in cliramitug to Royalty Pharma for up to $425 million, including $125 million upfront. The transaction provides the company access to non-dilutive funding for the development of its R&D pipeline.

Transaction terms

Under the terms of the agreement, Royalty Pharma will provide Neurimmune up to $425 million, including $125 million upfront, in exchange for a 3% to 4% royalty on worldwide net sales of cliramitug. In the first quarter of 2027, Royalty Pharma will provide another $125 million in cash to Neurimmune, with the remaining $175 million payable based on the achievement of certain clinical and regulatory milestones.