Royalty Pharma and Revolution Medicines have entered a $2 billion funding agreement to support the development and commercialization of daraxonrasib, a promising RAS-targeted cancer therapy124.
The deal comprises up to $1.25 billion in synthetic royalty funding and up to $750 million in secured debt, providing Revolution Medicines with significant financial flexibility24.
Daraxonrasib is in Phase 3 clinical trials for pancreatic cancer and non-small cell lung cancer, targeting all major forms of RAS mutations, which are among the most common drivers of human cancer24.
The partnership allows Revolution Medicines to retain full control over the global development and commercialization of daraxonrasib and its broader RAS(ON) inhibitor pipeline, rather than ceding rights to a pharmaceutical partner24.
This agreement is seen as a new funding paradigm for biotech, enabling Revolution to extend its cash runway and execute its strategic vision for RAS-driven cancers34.
Sources:
1. https://ir.revmed.com/news-releases/news-release-details/revolution-medicines-enters-2-billion-flexible-funding-agreement
2. https://www.royaltypharma.com/news/royalty-pharma-and-revolution-medicines-enter-into-funding-agreements-for-up-to-2-billion/
3. https://www.biospace.com/business/revolution-establishes-endless-cash-runway-with-2b-royalty-pharma-deal
4. https://www.nasdaq.com/articles/royalty-pharma-announces-2-billion-funding-arrangement-revolution-medicines-daraxonrasib