BioMarin Enters License Settlement with Ascendis, Grants TransCon CNP Rights

What Happened

• On August 30, 2026, BioMarin Pharmaceutical Inc. announced a binding term sheet with Ascendis Pharma A/S that grants Ascendis a non-exclusive, worldwide, transferable, royalty-bearing license to BioMarin patents covering TransCon CNP (navepegritide / Yuviwel) and settles pending litigation related to those patent rights.
• Under the term sheet Ascendis will pay royalties of 20% of annual net sales in the United States and 18% of annual net sales in the European Union, Brazil and South Korea, in each case from the date of first commercial sale (applied retroactively as applicable) through May 2030. A definitive settlement and license agreement is to be negotiated and executed; the term sheet remains binding and, if no definitive agreement is reached by September 24, 2026, its provisions continue to apply.

Key Details

• Effective date of the term sheet: August 30, 2026.
• Royalties: 20% (U.S.); 18% (EU, Brazil, South Korea), payable from first commercial sale through May 2030.
• Scope: non-exclusive, worldwide, transferable license to research, develop, manufacture, use, sell, and commercialize products containing TransCon CNP for all current and potential indications, including achondroplasia and hypochondroplasia.
• Legal terms: parties will dismiss pending litigation with prejudice; mutual regulatory non‑interference; Ascendis covenants not to challenge BioMarin’s patents; BioMarin releases and covenants not to sue Ascendis for past infringement.

Why It Matters

• The deal resolves active patent disputes between BioMarin and Ascendis and shifts commercialization rights to a broader licensing model, which reduces litigation risk but limits BioMarin’s exclusivity.
• BioMarin stands to receive a defined royalty stream if Ascendis (or its affiliates) commercialize TransCon CNP products in the specified territories, but actual revenue depends on product launches and sales.
• The term sheet is binding now, but a final agreement is still to be negotiated; investors should note BioMarin’s forward‑looking caution that outcomes and future payments depend on commercialization and other risks disclosed in its SEC filings.