Bayer (BAYRY.US) obtains exclusive commercial rights for BridgeBio (BBIO.US)'s heart disease drug in Europe.

BridgeBio Pharma (BBIO.US) has granted exclusive license to German pharmaceutical company Bayer (BAYRY.US) to commercialize its heart disease drug acoramidis in Europe. BridgeBio will receive up to $310 million in funding, including upfront and near-term milestone payments, as well as other undisclosed sales milestone payments. BridgeBio will also receive tiered royalties on sales of acoramidis in Europe. In July of last year, BridgeBio Pharma announced that its investigational therapy acoramidis met the primary endpoint in a Phase 3 clinical trial for patients with transthyretin amyloidosis-mediated cardiomyopathy (ATTR-CM), significantly reducing the risk of death and hospitalization due to cardiovascular disease. The US health regulatory agency has set the approval decision date for acoramidis as November 29th, with the drug expected to receive approval in the European Union in 2025.