Northwestern sells Lyrica rights for $700M

It's the last big Lyrica bonanza for Northwestern University. The school sold part of its royalty rights to the blockbuster drug for $700 million. That's a big chunk of change--and this after several years of plowing Lyrica royalties into the university nanotech center, recruiting top-name scientists and building new facilities for them. Now, Northwestern will deposit the lump sum in its endowment fund, where it can earn interest. And it will still collect some money off the (unspecified) royalties it still owns.

The buyer? Royalty Pharma, a New York-based company that's made a practice of buying royalty rights from research universities.

- see this release
- read the article from the Chicago Tribune

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