Ultragenyx to sell Rare Pediatric Disease PRV for $210M

Ultragenyx agreed to sell a Rare Pediatric Disease Priority Review Voucher (PRV) awarded by the FDA for approval of GENGLYCOS in glycogen storage disease type Ia for $210 million in cash. PRVs are transferable assets that allow the holder to expedite FDA review of a drug, and the $210M proceeds represent meaningful non-dilutive cash for a specialty pharma company, though 20% ($42M) will go to the NIH under an existing license agreement.

Ultragenyx received a special FDA voucher when it got approval for a rare disease drug. The company is now selling that voucher to another buyer for $210 million cash, which is a significant one-time payment that strengthens its balance sheet.