Revolution Medicines To Advance Lead Cancer Drug With $2 Billion In Funds

Revolution Medicines, Inc. (NASDAQ:RVMD) on Tuesday partnered with Royalty Pharma Plc (NASDAQ:RPRX) on $2 billion in flexible funding to support Revolution Medicines’ independent global development and commercialization strategy and operations.

Revolution Medicines retains full strategic and executional control of product development and commercialization for its portfolio of RAS(ON) inhibitors in the U.S. and internationally, enabling the company to leverage its assets, capabilities and momentum toward establishing new global standards of care and creating value for shareholders.

The funding agreement provides $2 billion in committed capital comprised of up to $1.25 billion in synthetic royalty monetization on sales of daraxonrasib, the company’s RAS(ON) multi-selective inhibitor, and up to ...