Quest Diagnostics, Royalty Pharma deal

Royalty sold to VC firms Aisling Capital and Clarus Ventures about 20% of the royalty interest for cancer compound ibrutinib that Royalty acquired from Quest last month for $485 million. Royalty said Aisling and Clarus paid just under $97 million for the stake. Quest gained the ibrutinib royalty rights through its 2011 acquisition of Celera Corp. for $670.8 million, or about $344 million net of cash. Pharmacyclics Inc. (NASDAQ:PCYC, Sunnyvale Calif.) acquired ibrutinib from Celera in 2006 (see BioCentury, April 17, 2006; May 23, 2011 & July 22, 2013). ...