DRI Healthcare Trust’s Sale of its TZIELD™ Royalty Interest to Sanofi
April 27, 2023
On April 27, 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 its wholly‑owned subsidiary has sold its royalty interest and milestone payment obligations in the worldwide sales of TZIELD™, the first disease‑modifying treatment for the delay of Stage 3 type 1 diabetes, to Sanofi S.A. (“Sanofi”) for $210 million. 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 and J. Elizabeth Allan on M&A and intellectual property matters; partner Paul H. Zumbro on financial restructuring and reorganization matters; partners Nicholas A. Dorsey and Matthew M. Kelly and associate DongHwa Kim on financing matters; partner Christopher K. Fargo and senior attorney Kiran Sheffrin on tax matters; and of counsel Jesse M. Weiss on litigation matters. Gregg M. Rader also worked on tax matters.
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J.D., 2013, Harvard Law Schoolmagna cum laude
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J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
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