New Ventures Portfolio Company, Royalty Pharma, Surges On Public Debut

Rhea-AI Summary

On June 25, 2020, New Ventures Funds announced the IPO of Royalty Pharma (NASDAQ:RPRX), raising $2.18 billion by selling 77,681,670 Class A shares at $28.00 per share. This marks the largest IPO of the year and the second largest in the pharmaceutical sector. With a portfolio of 45 marketed drugs and $18 billion in drug royalty transactions, Royalty Pharma aims to innovate within the biopharmaceutical ecosystem. New Ventures has invested in Royalty Pharma since 2006 and remains committed to supporting transformative healthcare investments.

Positive

• Raised $2.18 billion in IPO, largest of the year.
• Second largest IPO in the pharmaceutical sector.
• Strong investment history with Royalty Pharma since 2006.

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• None.

VIRGINIA BEACH, Va., June 25, 2020 /PRNewswire/ -- New Ventures Funds, a venture fund targeting investments in companies across healthcare and life sciences, is pleased to announce the IPO of one of its portfolio companies, Royalty Pharma (NASDAQ:RPRX). The company raised $2.18 billion through the sale of 77,681,670 of its Class A ordinary shares priced at $28.00 per share – the largest IPO of the year and the second biggest Pharma listing ever. Principals of New Ventures were day-one investors in Royalty Pharma and the New Ventures family of funds have invested in Royalty Pharma since 2006.

Commenting on the announcement, Mark Finn, General Partner said, "We are delighted with Royalty Pharma's public debut and immensely proud of our more than two-decade partnership with the company that has pioneered the drug royalty market. We have and will continue to remain steadfast to the guiding principles of our strategy of consistently seeking to identify unique opportunities where significant value remains unrealized in the healthcare, therapeutics, and digital medicine space."

Royalty Pharma is the global leader in acquiring biopharmaceutical royalties. Founded in 1996, the company has executed $18 billion in drug royalty transactions, with a portfolio consisting of 45 marketed drugs and four developmental stage products. The company continues to fund innovation and breakthroughs across the biopharmaceutical ecosystem through collaborating with innovators from academic institutions, research hospitals, and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies.

General Partner of New Ventures Funds and Royalty Pharma Co-Founder, Rory Riggs, commenting on the IPO and the healthcare industry: "We were an early investor in Royalty Pharma. Their IPO is a significant event for our investors. We cannot be more complimentary of RP's vision and execution over the years. As the roles of the biotech industry and the big pharmaceutical companies evolved, RP saw an important need in the healthcare industry and filled it." Riggs added, "The healthcare space is primed for innovation, disruption and breakthrough; Royalty Pharma's successful IPO is testament to that. Our team continues to operate with the ethos that meaningful value is captured through longstanding partnership with companies that have visionary leadership and are developing technologies and services that usher in transformational change."

About New Ventures:

The New Ventures team is a group of co-founders, entrepreneurial operators, and investors with collectively over 100 years of experience and whose members have collaborated on various projects together in the healthcare industry. The first fund launched in 2006, and since then the team has repeatedly created, invested in and exited multiple companies in therapeutics, precision medicine, diagnostics and various high impact technology verticals. Through New Venture's deep understanding, the team can translate transformational science into successful business ventures. New Ventures understands science and technology breakthroughs needed to achieve radical change, and because of that, the strategy focuses on novel and unique innovations that have breakthrough potential. To see more please visit: www.newventuresfunds.com

Contact:
New Ventures Funds	William Martin
3500 Pacific Ave.	Investor Relations
Virginia Beach, VA, 23451	w.martin@newventuresfunds.com
Phone: (757) 491-1200

 

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SOURCE New Ventures Funds

FAQ

What is Royalty Pharma's stock symbol?

Royalty Pharma's stock symbol is RPRX.

How much did Royalty Pharma raise in its IPO?

Royalty Pharma raised $2.18 billion through its IPO.

What was the price per share for Royalty Pharma's IPO?

The price per share for Royalty Pharma's IPO was $28.00.

When did Royalty Pharma go public?

Royalty Pharma went public on June 25, 2020.

How many shares were sold in Royalty Pharma's IPO?

A total of 77,681,670 shares were sold in Royalty Pharma's IPO.