LifeArc, a UK-based medical research charity, has received US$1.297 billion from CPPIB Credit Europe S.à r.l. – a wholly owned subsidiary of Canada Pension Plan Investment Board (CPPIB) – for a portion of its royalty interest in Keytruda® pembrolizumab), MSD’s anti-PD-1 therapy. LifeArc secured rights to royalties from pembrolizumab as a result of the charity’s 2007 collaboration to humanise the antibody-based therapy now marketed by MSD. The transaction will make LifeArc one of the UK’s leading medical research charities by size of its investment assets and allows it to significantly…
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