The pharmaceutical arm of the Ontario Municipal Employees’ Retirement System is acquiring a stake in an anti-viral drug.
According to the terms of a $200-million deal between OMERS Life Sciences and Enanta Pharmaceuticals Inc., the pension fund will receive a 54.5 per cent stake on the first US$284 million in royalties earned by the hepatitis C drug Mavyret by June 2032. If the cap is reached during the period, Enanta will receive all further royalties.
In a press release, Rob Missere, managing director and head of OMERS Life Sciences, described Mavyret as an “important cure for chronic hepatitis C infection. This deal furthers our mandate to deliver an attractive source of long-term returns for our more than 560,000 members.”
In other news, the British Columbia Investment Management Corp. is acquiring a minority stake in a space technology company that specializes in manufacturing, tracking and servicing satellites.
Maxar Technologies Inc. will be jointly acquired by the BCI and Advent International for US$6.4 billion. The Colorado-based company, which traded on the New York Stock Exchange and the Toronto Stock Exchange, has now been de-listed.