Cytokinetics and Royalty Pharma Announce $100 Million Transaction for Omecamtiv Mecarbil

Royalty Pharma Buys 4.5 Percent Royalty on Worldwide Sales for $90 Million Plus $10 Million Equity in Cytokinetics Cytokinetics Agrees to Exercise Option to Co-Fund Phase 3 Development Program Under Collaboration with Amgen for Increased Royalty and Co-Promotion Rights in North America Company to Host Conference Call and Webcast Today at 8:30 am Eastern Time SOUTH SAN FRANCISCO, Calif. and NEW YORK, Feb. 02, 2017 (GLOBE NEWSWIRE) -- Cytokinetics, Inc. (Nasdaq:CYTK) and Royalty Pharma today announced that Cytokinetics has agreed to sell to Royalty Pharma a portion of the potential royalty due to Cytokinetics from Amgen on worldwide sales of omecamtiv mecarbil. Cytokinetics has also agreed to exercise its option to co-invest with Amgen in the Phase 3 development program of omecamtiv mecarbil in exchange for increased royalties from Amgen on worldwide sales of omecamtiv mecarbil outside Japan and co-promotion rights.

The release as fetched from its publisher. cytokinetics.com ↗