Press Release

Sixth Street Invests in Blueprint Medicines

July 6, 2022

San Francisco – July 6, 2022 – Cooley advised global investment firm Sixth Street on its strategic investment in Blueprint Medicines, a global precision therapy company that invents life-changing therapies for people with cancer and blood disorders. Lawyers Mischi a Marca, Matt Browne, Matt Scarano, Addison Pierce, Matt Kong and Nick Neuteufel led the Cooley team advising Sixth Street. 

The investment will provide capital for Blueprint Medicines, which trades on the Nasdaq Global Select Market under the symbol BPMC, to expand and advance the company’s robust and diverse pipeline toward commercialization and to continue pursuing strategic business development opportunities.

The agreement with Sixth Street has three parts: $250 million cash upfront in exchange for future AYVAKIT/AYVAKYT and BLU-263 royalties at a rate of 9.75%, subject to an annual cap of $900 million in net sales and a cumulative cap of 1.45 times the invested capital; up to $400 million in a senior secured credit facility, of which Blueprint Medicines will draw $150 million initially, with an additional $250 million available in delayed draw tranches at Blueprint Medicines’ election; and $260 million in a potential credit facility to support buy-side business development opportunities, subject to mutual agreement between Sixth Street and Blueprint Medicines.

Separately, Blueprint Medicines entered into a transaction with Royalty Pharma, a buyer of biopharmaceutical royalties, which monetizes royalties receivable from GAVRETO net sales by Roche outside of the US, not including Greater China, with $175 million in cash paid to Blueprint Medicines upfront and up to $165 million in potential milestone payments based on future sales.

The two separate transactions bring the total investment to $1.25 billion for Blueprint Medicines.

Sixth Street is a global investment firm with more than $60 billion in assets under management and committed capital. The firm uses its long-term, flexible capital, data-enabled capabilities and one-team culture to develop themes and offer solutions to companies across all stages of growth. Sixth Street’s healthcare and life sciences team provides strategic capital and forms long-term partnerships with companies creating new technologies to address pressing healthcare challenges and improve patient care. 

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law. 

Cooley has 1,500 lawyers across 17 offices in the United States, Asia and Europe, and a total workforce of 3,300.


This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.