Barings Acquires Royalty Interest in Recombinant Therapy Vonvendi® From Boston Children’s Hospital
Jun 19, 2018
Charlotte, NC (June 19, 2018) – Barings Alternative Investments, part of Barings LLC, one of the world’s leading financial services firms, announced today the acquisition of royalties related to Vonvendi, a treatment for a genetic bleeding disorder, from Boston Children’s Hospital on behalf of institutional investors.
Vonvendi, indicated to treat von Willebrand Disease, is based on patented technology developed by researchers at Boston Children’s and is marketed in the United States by Shire Plc. Vonvendi is the first and only purified recombinant von Willebrand Factor therapy approved by the U.S. Food & Drug Administration.
Boston Children’s Hospital, the primary pediatric teaching affiliate of Harvard Medical School, is home to the world’s largest research enterprise based at a pediatric medical center. Boston Children’s portion of proceeds from the $51.5 million transaction will be directed back into its charitable mission including its pediatric medical research pipeline.
“The success of Vonvendi reflects the tremendous impact of Boston Children’s research on patient health and exemplifies how a partnership with industry can expand the reach of treatments developed here to benefit the broadest set of patients,” says Irene Abrams, Vice President of Technology and New Ventures at Boston Children’s Technology Innovation and Development Office.
“We are pleased to partner with a leading institution such as Boston Children’s Hospital to assist them in fulfilling their mission of advancing critical medical research and treatment of pediatric patients. The Vonvendi royalty investment exemplifies a core theme of our Private Equity and Real Assets platform – partnering with the world’s leading asset owners to acquire best-in-class assets, including intellectual property, to provide long-term sustainable returns for our investors. Specialty pharma is a core part of our healthcare strategy and this acquisition builds on our history of successful royalty monetization investments.” said Jon Rotolo, Head of the Barings Private Equity and Real Assets team.
Barings Alternative Investments (BAI), part of Barings LLC, is a 450+ associate team located across 11 countries that manages $52.3 billion* in client capital. BAI seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate. We serve as a trusted partner to clients, leveraging our global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. The Barings Private Equity and Real Assets team focuses on control positions in actively-managed, thematically-driven asset-based investments that generate both current income and opportunity for capital appreciation. Led by a research intensive investment process that identifies long-term investment trends, the team invests across eight specialist sectors in four asset classes: Capital Assets, Infrastructure, Intangible Assets and Natural Resources.
Barings is a $305+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
*As of March 31, 2018
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