Cambridge, Mass.-based healthcare investment fund Gurnet Point Capital and Menlo Park Calif.-based healthcare investment firm Patient Square Capital completed their acquisition of biopharmaceutical company Radius Health, the company said Aug. 15.
Radius is a commercial-stage biopharmaceutical company headquartered in Boston, and it focuses on addressing unmet needs in bone health and neuro-orphan diseases. Its lead product, Tymlos was launched in the U.S. in 2017 for the treatment of postmenopausal osteoporosis patients at a high risk of fracture.
Terms of the deal included $10 per share in cash, plus one nontransferable contingent value right per share, representing the contractual right to receive $1 per share in cash, payable upon Tymlos net sales reaching $300 million during any consecutive 12-month period prior to Dec. 31, 2025.