Royalty Pharma secured a $425 million interest in Neurimmune’s cliramitug, paying $125 million upfront for a royalty stream tied to worldwide sales, with additional payments contingent on clinical and regulatory milestones. The TTR-fibril-depleting antibody is designed to clear amyloid already deposited in the heart for patients with transthyretin amyloidosis with cardiomyopathy (ATTR-CM). The asset is in the Phase III DepleTTR-CM trial, with results expected in 2028. Royalty Pharma said the market for ATTR-CM is expanding rapidly, and the transaction adds to its portfolio of development-stage royalty interests. For investors, the deal reflects increasing willingness to underwrite late-stage oncology and cardiovascular innovation through royalty structures that preserve operating partners’ upside.