Orchestra BioMed Enters $30M Agreement With Terum To Treat Coronary Artery Disease Globally

Author: Benzinga Newsdesk | October 28, 2025 07:05am

Orchestra BioMed Holdings, Inc. (Nasdaq: OBIO, "Orchestra BioMed" or the "Company"), a biomedical company accelerating high-impact technologies to patients through strategic partnerships with market-leading global medical device companies, today announced that it has entered into a termination and right of first refusal agreement (the "ROFR Agreement") with Terumo Corporation (TYO:4543) and Terumo Medical Corporation (collectively, "Terumo") with respect to Virtue® Sirolimus AngioInfusion™ Balloon ("SAB") for the treatment of coronary artery disease worldwide. The ROFR Agreement, which supersedes and terminates the prior Virtue SAB distribution agreement between Orchestra BioMed and Terumo (the "Prior Agreement"), grants Terumo a right of first refusal ("ROFR") to acquire the rights, or enter a distribution arrangement, with respect to Virtue SAB for the treatment of coronary artery disease, in exchange for an upfront payment of $10 million. Terumo and Orchestra BioMed have also entered into a securities purchase agreement, pursuant to which Terumo has agreed to invest an additional $20 million in Orchestra BioMed through a new series of non-voting preferred stock, which is convertible into common stock in the future, subject to certain conditions, at a minimum of $12 per share (the "Securities Purchase Agreement"). Terumo previously made a $30 million non-refundable payment and $5 million common stock investment in Orchestra BioMed upon execution of the Prior Agreement.

Posted In: OBIO TYO:4543