BRAIN Biotech AG Secures EUR 11.51 Million Milestone Payment

BRAIN Biotech AG has announced the receipt of a EUR 11.51 million payment from Royalty Pharma. This payment marks the achievement of a key development milestone for the investigational pharma compound, deucrictibant. The event increases the likelihood of receiving additional milestone payments that could total up to EUR 96.65 million. The company may further benefit from Pharvaris N.V.'s regulatory milestone payments.

Michael Schneiders, CFO of BRAIN Biotech AG, expressed satisfaction with these developments, emphasizing the positive impact on the company's financial standing. A revaluation of liabilities related to Royalty Pharma's agreement may lead to a non-cash charge of up to EUR 28 million, yet it will be neutralized over the agreement's duration.