BridgeBio Pharma has secured strategic financing of $1.25bn from Blue Owl Capital and the Canada Pension Plan Investment Board (CPP Investments) for genetic therapies.

The capital injection will accelerate the development and potential introduction of genetic therapies, including acoramidis.

Acoramidis is anticipated to become a crucial treatment for transthyretin amyloid cardiomyopathy (ATTR-CM).

The financing arrangement includes a royalty agreement with Blue Owl and CPP Investments and the refinancing of the existing senior credit facility of BridgeBio by Blue Owl.

BridgeBio will receive a $500m cash payment upon receipt of the Food and Drug Administration’s approval for acoramidis. This funding is expected to support the commercial introduction of the drug in the market.

The payment is split between $300m from Blue Owl and $200m from CPP Investments in exchange for future royalty payments of 5% of net acoramidis sales across the globe.

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BridgeBio has also been granted a $450m credit facility from Blue Owl, which not only refinances the existing senior secured credit but also extends its maturity from 2026 to 2029.

The agreement allows BridgeBio to obtain a further $300m in credit facilities from Blue Owl to support its pipeline.

BridgeBio Pharma chief financial officer Brian Stephenson stated: “We are excited to be working with a distinguished group of life sciences investors who are aligned with our view of acoramidis’ blockbuster market opportunity.

“Our newly strengthened balance sheet will enable us to serve ATTR-CM patients with a well-resourced launch of acoramidis, as well as patients with genetic diseases more broadly with multiple Phase III readouts for blockbuster indications anticipated over the next few years.

“Our increasing patient impact should allow us to diversify drivers of top-line revenue in the near term and enable re-investment into research and development paired with opportunistic business development.”

This month, the company published data from the Phase III ATTRibute-CM trial of acoramidis in patients with ATTR-CM.