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Latham & Watkins Advises Dicerna in its Sale of OXLUMO™ (lumasiran) Royalty Interest to Royalty Pharma for Up to US$240 Million

April 9, 2021
A multidisciplinary team advised the biopharmaceutical company in the transaction, which is one of many royalty acquisitions and financings our Latham & Watkins teams have led this year.

Dicerna Pharmaceuticals, Inc. (Nasdaq: DRNA) and Royalty Pharma plc (Nasdaq: RPRX) have announced that Royalty Pharma has acquired Dicerna’s royalty interest in OXLUMO™ (lumasiran) for an upfront cash payment of US$180 million and up to US$60 million in contingent sales-based milestone payments. OXLUMO, which has been approved by the US Food and Drug Administration and European Medicines Agency for the treatment of primary hyperoxaluria (PH) type 1, is marketed by Alnylam Pharmaceuticals, Inc. Dicerna had the right to OXLUMO royalties from Alnylam under a global cross-license agreement, which royalty rights it sold to Royalty Pharma under this transaction.

Latham & Watkins LLP represents Dicerna Pharmaceuticals, Inc. in the transaction. The transactional team was led by Bay Area partner Haim Zaltzman, Boston/New York partner Kristen Grannis, and New York counsel Ellen Smiley, with Bay Area associate Trevor Church, Los Angeles associate Rychelle Andersen, and Boston associate Jennifer Yoon. New York partner Alan Tamarelli provided advice on intellectual property and licensing matters and Los Angeles partner Eric Cho, with New York associate Sam Yang provided advice on tax matters.