Gurnet Point Capital and Patient Square Capital completed

CAMBRIDGE, Mass., Aug. 15, 2022 (GLOBE NEWSWIRE) — Gurnet Point Capital (“Gurnet Point”) and Patient Square Capital (“Patient Square”) announced today that they have completed the acquisition of Radius Health, Inc. (Nasdaq). : RDUS) (“Radius”). Radius is a global commercial biopharmaceutical company dedicated to solving unmet medical needs in bone health and neuro-orphan diseases. Radius’ flagship product, TYMLOS® (abaloparatide) was launched in the US in 2017 for the treatment of postmenopausal women with osteoporosis at high risk of fracture.

The fee paid to shareholders in the transaction was $10.00 per share in cash, plus one non-transferable contingent value right (“CVR”) per share, which represents a contractual right to receive $1.00 per share in cash , payable upon the achievement of $300 million in net sales of TYMLOS (including U.S. sales and Japanese royalties or supply payments based on the supply of TYMLOS for sales in Japan) during any consecutive 12-month period through December 31, 2025 .

As of the expiration of the tender offer, the shares duly tendered and not withdrawn represented more than 50% of Radius’ outstanding common stock. Pursuant to the terms of the merger agreement, the acquiring company of Gurnet Point and Patient Square merged with Radius, resulting in Radius becoming an indirect wholly-owned subsidiary of Gurnet Point and Patient Square. Radius will be delisted from the NASDAQ Global Market.

About Gurnet Point Capital
Gurnet Point Capital is a leading healthcare fund that invests in life sciences companies. Gurnet Point primarily focuses on businesses with high growth potential in the late product development and commercialization stages of their evolution. These companies become partners not only because of their ability to generate economic value, but also because of their potential for social impact. Gurnet Point’s team of experienced industry leaders works closely with portfolio companies, taking a proactive approach to operational transformation and ultra-high profitability. www.gurnetpointcapital.com

About Patient Square Capital
Patient Square Capital (www.patientsquarecapital.com) is a dedicated healthcare investment firm partnering with best-in-class management teams whose products, services and technologies improve health. Patient Square uses deep industry expertise, a broad network of connections, and a true partnership approach to help companies grow and thrive. Patient Square invests in businesses that strive to improve the lives of patients, strengthen communities and create a healthier world. Patient Square’s team of industry-leading executives has a depth of healthcare focus, a breadth of healthcare investment experience and a network it can leverage to deliver differentiated results.

About the radius
Radius is a global biopharmaceutical company dedicated to addressing unmet medical needs in bone health, neuro-orphan diseases and oncology. Radius’ flagship product, TYMLOS® (abaloparatide) for injection has been approved by the US Food and Drug Administration for the treatment of postmenopausal women with osteoporosis at high risk of fracture. Radius’ clinical suite includes an investigational abaloparatide injection for potential use in the treatment of men with osteoporosis; an investigational drug, elacestrant (RAD1901), for potential use in the treatment of hormone receptor-positive breast cancer, licensed to the Menarini Group; and investigational drug RAD011, a synthetic oral cannabidiol solution with potential applications in multiple neuroendocrine, neuropsychiatric, or medical conditions, initially targeting Prader-Willi syndrome, Angelman syndrome, and infantile spasms.

Contact for media:

Gurnett Point Capital
Tom Johnson / Blair Hennessy
Abernathy McGregor
Email: [email protected] / [email protected]
Phone: (212) 371-5999

Patient Square Capital
Doug Allen / Zach Cove
Ducas Linden Public Relations
Phone: (646) 722-6530

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