DRI Healthcare Trust’s Expansion of its Royalty Entitlement on the U.S. Net Sales of Omidria®
February 01, 2024
On February 1, 2024, DRI Healthcare Trust (“the Trust”), a global leader in providing financing to advance innovation in the life sciences industry, announced it has expanded its interest in royalties on the U.S. net sales of Omidria® by amending its existing agreement with Omeros Corporation ("Omeros") for $115 million on closing and up to $55 million in potential sales‑based milestone payments. As a result, the Trust will now receive 100% of Omeros’s royalties on the U.S. net sales of Omidria® through December 31, 2031. Cravath is representing DRI Healthcare Trust in connection with the transaction.
The Cravath team is led by partner Daniel J. Cerqueira and includes foreign associate attorney Moritz Evertz on M&A matters; partners Nicholas A. Dorsey and Matthew M. Kelly and associate Tammuz Huberman on financing matters; partner David J. Kappos and of counsel Kathryn‑Ann Stamm on intellectual property matters; and partner Christopher K. Fargo, of counsel Kiran Sheffrin and associate Clayton Hackney on tax matters. Cierra Coury also worked on M&A matters and Matthew L. Ybarra also worked on intellectual property matters.
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