BridgeBio Pharma, Inc. (NASDAQ: BBIO) and Sentynl Therapeutics, Inc. (Sentynl) confirmed the finalization of an asset purchase agreement for the sale of BridgeBio’s NULIBRY (Fosdenopterin) for Injection. Sentynl’s focus on a significant treatment for serious rare diseases is reinforced by the purchase of Fosdenopterin.
As per the agreement, Sentynl will obtain global rights to NULIBRY and will be responsible for the ongoing development and marketing of NULIBRY in the United States, as well as the development, production, and commercialization of Fosdenopterin worldwide. BridgeBio will undertake development responsibilities for Fosdenopterin after the EMA approves the marketing authorization application.
Furthermore, Sentynl will give cash incentives if key regulatory benchmarks are met. BridgeBio will be liable for commercial milestone payments and tiered royalties based on NULIBRY's adjusted net sales. Additionally, the US FDA has authorized NULIBRY to minimize the risk of mortality in individuals with MoCD Type-A. The asset acquisition will be subject to standard closing conditions.
Sentynl is hoping to reach even more patients born with MoCD Type A as quickly as possible after it collaborated with BridgeBio. The company is hoping to decrease the risk of mortality and the development of this destructive disease. On the other hand, BridgeBio believed that Sentynl is a perfect partner as it has expertise in the rare pediatric neurodevelopment space and its collaborations with physicians who identify and treat children with MoCD Type-A.