DRI Healthcare Trust’s Acquisition of a Royalty Interest in Worldwide Net Sales of Orserdu™
June 30, 2023
On June 30, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a royalty interest in the worldwide net sales of Orserdu™, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy, from Eisai Co., Ltd. for $85 million. In addition to the running royalties, DRI Healthcare Trust is also entitled to receive milestones based on the achievement of regulatory and sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
The Cravath team is led by partners Daniel J. Cerqueira and David J. Kappos and includes associates Christopher P. Davis, Carys J. Webb, Lavinia M. Borzi and Esther Kang on M&A and intellectual property matters; partner Paul H. Zumbro and practice area attorney Alexander Gerten on financial restructuring and reorganization matters; partners Nicholas A. Dorsey and Matthew M. Kelly and associates DongHwa Kim and Ori Oren on financing matters; and partner Christopher K. Fargo, of counsel Kiran Sheffrin and associates Duncan H. Hardell and Clayton Hackney on tax matters. Summer associate Nicholas Juan also worked on M&A matters and summer associate Vincent Joralemon also worked on intellectual property matters.
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J.D., 2013, Harvard Law Schoolmagna cum laude
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B.A., 2010, Cornell UniversityPhi Beta Kappa
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J.D., 1990, University of California, Berkeley, School of Law
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B.S., 1983, University of California, Davissumma cum laude
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1992, Yale CollegeDistinction in Major, cum laude
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J.D., 2009, Cornell Law SchoolOrder of the Coif, summa cum laude
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M.Acc., 2006, Case Western Reserve Universitysumma cum laude
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J.D., 2013, New York University School of LawJohn Norton Pomeroy Scholar; Benjamin Butler Scholar; Order of the Coif, magna cum laude
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A.B., 2006, Dartmouth Collegecum laude
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J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
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B.A., 2003, Boston CollegeHonors Program, cum laude
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J.D., 2016, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.S., 2012, University of Wisconsin - MadisonGraduated with Distinction; Stone Scholarship in Economics
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J.D., 2013, Brooklyn Law Schoolmagna cum laude
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