Penn Sells Part of Drug Interest

June 29, 2013

The Philadelphia Business Journal reports that University of Pennsylvania has sold part of its royalty interest in a drug used to treat a rare genetic cholesterol disease. Penn didn't disclose the buyer or how much of the royalty interest it sold. The university plans to use the proceeds to support medical education and research. The drug is Juxtapid, which has the generic name Lomitapide. Penn said it's a once-a-day oral therapy for the treatment of adults with homozygous Familial Hypercholesterolemia, which is a life-threatening disease characterized by severely elevated cholesterol levels that are poorly responsive to other medications. Daniel J. Rader, MD, chief, Division of Translational Medicine and Human Genetics, has long championed the drug's ability to be a treatment for the disease.

Philadelphia Business Journal article