Canadian royalty investor buys into first-of-its-kind Type 1 diabetes drug

DRI Healthcare Trust, a prolific acquirer of drug royalties, is paying $100 million for a piece of a first-of-its-kind Type 1 diabetes drug.

In an announcement Thursday, DRI said it bought royalties to the medicine, called Tzield and designed to delay the onset of Type 1 diabetes, from biotechnology company Macrogenics. The FDA approved Tzield last November for individuals over the age of 8 who are considered to be in Stage 2, or “at risk,” of the autoimmune disease.