The trend of increasing priority review voucher sale values comes even as the FDA advances a new initiative called the commissioner's national priority voucher.
Only a month after Jazz Pharmaceuticals said it had signed a deal to sell an FDA priority review voucher (PRV) for $200 million, a new PRV transaction involving Fortress Biotech and an unnamed buyer shows that the trend of rising voucher prices is still going strong.Monday morning, Fortress said its subsidiary, Cyprium Therapeutics, has entered into an agreement to sell a recently received rare pediatric disease priority review voucher for $205 million. Cyprium got its hands on the PRV as part of the FDA's recent approval of injected copper replacement therapy Zycubo as the first treatment approved in the U.S. for the rare neurodegenerative disorder Menkes disease.While another company, Sentynl Therapeutics, is handling development and commercialization of Zycubo under a 2023 agreement, the deal called for Sentynl to transfer the PRV back to Fortress/Cyprium after the approval. Following the Jan. 12 approval of Zycubo, Cyprium wasted no time in striking a PRV sale. The $205 million transaction follows last month's disclosure from Jazz that it had agreed to sell its own PRV for $200 million. Before that, PRV transfers last year ranged between $150 million and $175 million.PRVs are awarded in conjunction with certain rare pediatric disease approvals and enable users to shorten FDA reviews from the agency's standard 10-month window to about six months. For a company with a promising launch waiting in the wings, a PRV could be worth hundreds of millions of dollars in order to help speed a highly anticipated drug to market. In the case of Cyprium and Zycubo, the company said it remains eligible for tiered royalties based on the drug's sales and up to $129 million in milestones. Further, the company stressed that it must pay 20% of the PRV sale proceeds to the Eunice Kennedy Shriver National Institute of Child Health and Human Development.The trend of increasing PRV sale values comes even as the FDA advances a new initiative called the commissioner's national priority voucher. Winners of these vouchers—which are handed out at the agency's discretion based on certain national priorities—are entitled to ultrafast FDA reviews spanning one to two months.The controversial program has already yielded one rejection, with Disc Medicine's bitopertin being spurned earlier this month.