– $500 million committed under senior secured term loan facility from funds managed by Pharmakon Advisors, LP,
– Priced $150 million Common Stock Offering,
RADNOR, Pa., June 03, 2026 (GLOBE NEWSWIRE) -- Mineralys Therapeutics, Inc. (NASDAQ:MLYS), a biopharmaceutical company focused on developing medicines to target hypertension and related comorbidities such as chronic kidney disease (CKD), obstructive sleep apnea (OSA) and other diseases driven by dysregulated aldosterone, today announced the repurchase of all potential future royalty payments due to Tanabe Pharma Corporation (Tanabe) related to lorundrostat in exchange for a $200 million upfront payment and up to $100 million once certain commercial milestones are met. Concurrently with the royalty repurchase, the Company announced entering into a $500 million committed debt facility with funds managed by Pharmakon Advisors, LP, of which $100 million will be funded at closing. In addition, Mineralys separately announced the pricing of an underwritten offering of approximately $150.0 million of its shares of common stock.
"The transaction with Tanabe eliminates all future royalty payments under the license agreement and positions Mineralys to capture meaningful incremental value from future potential sales of lorundrostat," said Jon Congleton, Chief Executive Officer of Mineralys Therapeutics. "The $100 million proceeds funded by Pharmakon at close, combined with the additional $400 million in additional capital from Pharmakon, meaningfully strengthens our balance sheet and access to capital."
Repurchase of Lorundrostat Royalty Obligation under Tanabe License AgreementMineralys will pay Tanabe $200 million upfront and up to $100 million once certain commercial milestones are met to extinguish its existing royalty obligation for lorundrostat. As a result, Mineralys' aggregate potential future milestone payments to Tanabe will be up to $265 million, including:
$100 million in new commercial milestones
$165 million in existing commercial milestones, including up to $10 million related to commercialization in a second indication
Tanabe has also agreed to subsequently assign to Mineralys its intellectual property rights related to lorundrostat.
Senior Secured LoanMineralys has entered into an up ...
