Date Closed

November 4, 2024

Lead Office

Toronto

Value

179.00 Million USD

On November 4, 2024, DRI Healthcare Trust (the"Trust") announced its acquisition of a synthetic royalty interest in the worldwide net sales of all formulations of sebetralstat from KalVista Pharmaceuticals ("KalVista") for an aggregate purchase price of up to US$179 million.

The Trust, based in Toronto, Ontario, is a tax-efficient cross-border income trust that acquires and owns pharmaceutical royalties.

KalVista, headquartered in Cambridge, Massachusetts, is an international company dedicated to creating and providing transformative oral treatments for individuals with rare diseases that have significant unmet needs. Sebetralstat is an oral medication developed by KalVista to treat hereditary angioedema attacks, and it is currently under review by the FDA with a PDUFA goal date of June 17, 2025.

McCarthy Tétrault LLP advised the Trust, as special tax counsel, with a team led by Raj Juneja that included Brendan Festeryga (Tax).