Press Release
June 30, 2022

Blueprint Medicines Announces Transformative $1.25 Billion Strategic Financing Collaborations with Sixth Street and Royalty Pharma

The Life Sciences team advised Blueprint Medicines Corporation (NASDAQ: BPMC) on its strategic financing collaborations with Sixth Street and Royalty Pharma (NASDAQ: RPRX) for up to $1.25 billion, bringing significant non-dilutive, low-cost capital to drive innovation and growth.

Blueprint Medicines is a global precision therapy company that invents life-changing therapies for people with cancer and blood disorders.

Sixth Street will invest $250 million in a capped synthetic royalty monetization to support the development and commercialization of AYVAKIT®/AYVAKYT® (avapritinib) and BLU-263; in exchange, Sixth Street will receive a royalty on future sales of AYVAKIT®/AYVAKYT® (avapritinib) and BLU-263, with the excess for working capital and general corporate purposes. Additionally, Sixth Street will provide up to $400 million in a senior secured credit facility and $260 million in a potential credit facility to support the development and commercialization of the company’s precision therapy portfolio.

The agreement with Royalty Pharma monetizes royalties receivable on net sales of GAVRETO® (pralsetinib) by Roche outside of the United States, not including Greater China, with $175 million cash paid to Blueprint Medicines upfront and up to $165 million in potential milestone payments based on future sales.

The Goodwin team was led by Danielle Lauzon, Shane Albright, Yasin Akbari, Chris Huntsman, and Kris Ring, Chris Steinroeder, Emily Josef, and Caroline Tompkins, and Dan Karelitz and George Davis.

For more details, read the press release.