Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry. Since its founding in 1996, the Company has been a pioneer in the royalty market, collaborating with innovators from academic institutions, research hospitals and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma continues to fund innovation in the biopharma industry both directly and indirectly – directly through partnering with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly through acquiring existing royalties from original innovators.