OMERS Purchases Aclaris's Future OLUMIANT Royalties

One of Canada's largest defined benefit pension plans, OMERS, has purchased a portion of Aclaris Therapeutics, Inc.'s future royalty payments and certain milestones from Eli Lilly and Company (Lilly) on net sales of OLUMIANT® (baricitinib) for the treatment of alopecia areata. Aclaris Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases.

Aclaris has received an upfront payment of $26.5 million under the terms of the deal, and it may get up to an additional $5.0 million should specific sales targets for OLUMIANT be met in 2024. In return, OMERS has acquired 100% of the remaining anniversary milestone payments that Lilly owes Aclaris under the terms of the licence agreement, as well as a portion of the royalty that Lilly pays Aclaris for worldwide net sales of OLUMIANT for alopecia areata from April 1, 2024, through the remaining royalty term.

Dr. Neal Walker, Interim President & CEO of Aclaris and Chair of the Board of Directors, stated, "This transaction bolsters our balance sheet and provides us with enhanced financial flexibility to pursue a range of value-creating opportunities while continuing to invest in our internal programmes." "As we move forward with our strategic assessment, we'll be looking for opportunities to invest in programmes that complement and enhance our existing drug development pipeline.”