Pharma royalty company Healthcare Royalty officially withdraws $750 million IPO

Healthcare Royalty, which buys royalty interests in marketed and late-stage biopharmaceuticals, officially withdrew its plans for an initial public offering on Wednesday. In July 2021 it had filed to raise $750 million, before postponing the offering.

Healthcare Royalty claims it is the leading mid-market royalty acquisition company by number of transactions and aggregate value of capital deployed since 2016. The company's portfolio contains 35 products across 12 therapeutic categories, including Shingrix, Krystexxa, and Xpovio.

The Stamford, CT-based company was founded in 2006 and booked $263 million in sales for the 12 months ended March 31, 2021. It had planned to list on the NYSE under the symbol HCRX. Goldman Sachs, Citi, Credit Suisse, Jefferies, Cowen, SVB Leerink, Truist Securities, BMO Capital Markets, Stifel, and Raymond James were set to be the joint bookrunners on the deal.