Athyrium Capital Management and Esperion Enter Into $50 Million Japan Royalty Financing to Support Strategic Acquisition of Corstasis Therapeutics

• Athyrium Funds purchased a portion of the royalties payable to Esperion on Japan net sales of Otsuka’s bempedoic acid products, together with related milestone payments, subject to a cap, for total consideration of $50 million
• Athyrium Funds to receive tiered royalties ranging from 12% to 33%, as well as milestone payments, until receiving aggregate payments equal to 2.0x their investment, after which all rights revert to Esperion
• Financing supports Esperion’s acquisition of Corstasis Therapeutics Inc., which developed and is commercializing Enbumyst™, the first FDA-approved intranasal loop diuretic for treatment of edema associated with cardiovascular and hepatic and renal disease

NEW YORK and ANN ARBOR, Mich., April 02, 2026 (GLOBE NEWSWIRE) — Athyrium Capital Management, LP and Esperion Therapeutics, Inc. (Nasdaq: ESPR) today announced the entry into a $50 million royalty financing agreement under which certain funds managed by Athyrium Capital Management (the “Athyrium Funds”) will acquire 100% of Esperion’s royalty interest, held by Esperion pursuant to that certain License and Collaboration Agreement, dated as of April 17, 2020, as amended, by and among Esperion and Otsuka Pharmaceutical Co., Ltd (“Otsuka”), of Otsuka’s net sales of bempedoic acid products in Japan from and after January 1, 2026, together with related regulatory and commercial milestone payments, subject to a cap.

Under the terms of the financing agreement, the Athyrium Funds will receive tiered royalties on net sales of Otsuka’s bempedoic acid products in Japan from and after January 1, 2026, ranging from 12% to 33%, as well as associated regulatory and commercial milestone payments, until they have received aggregate payments equal to 2.0x their investment. Thereafter, all future royalties on Japan net sales of Otsuka’s bempedoic acid products and related milestone payments will revert to Esperion.

The transaction provides Esperion with non-dilutive capital to support its recent acquisition of Corstasis Therapeutics, Inc. (“Corstasis”), a privately-held, commercial-stage cardiovascular company whose lead asset, Enbumyst™ (bumetanide nasal spray), is the first and only FDA-approved intranasal loop diuretic for treatment of edema associated with cardiovascular and hepatic and renal disease.

This transaction represents the Athyrium Funds’ second financing with Esperion in the past 16 months, following investment in the $150 million senior secured loan facility that closed in December 2024, and underscores the Athyrium Funds’ continued support of Esperion.

“We are pleased once again to have the financial backing of Athyrium as we continue to execute our strategic priorities,” said Ben Halladay, Chief Financial Officer of Esperion. “This financing provides additional non-dilutive capital to support the acquisition of Corstasis while further strengthening our balance sheet and preserving long-term upside across our bempedoic acid franchise.”

“We are excited to expand our investment in Esperion and further support the Esperion team,” said Laurent Hermouet, Partner at Athyrium Capital Management. “Having invested in Esperion previously, this transaction reflects our continued conviction in the long-term value of bempedoic acid, our view of Japan as an attractive growth market, and our focus on investing flexible, non-dilutive capital to support both strategic M&A and continued growth of Esperion’s cardiovascular franchise.”

Advisors
Covington & Burling LLP and Paul Hastings LLP acted as legal advisors to Athyrium. Jefferies LLC acted as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to Esperion on the transaction.

About Athyrium Capital Management
Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over $4.6 billion in committed capital. The Athyrium team has substantial investment experience across a wide range of asset classes including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, healthcare focused services, and healthcare information technology. For more information, please visit www.athyrium.com.

About Esperion Therapeutics
Esperion Therapeutics, Inc. is a commercial-stage biopharmaceutical company dedicated to developing and delivering innovative cardiometabolic and rare/orphan disease therapies. The Company leverages deep domain expertise in ACLY biology to develop and commercialize transformative medicines for patients worldwide. Esperion currently markets two oral, once-daily, non-statin therapies for patients struggling to maintain their low-density lipoprotein cholesterol (LDL-C) levels and are at risk of cardiovascular disease, and a nasal-spray loop diuretic for the treatment of edema associated with heart failure, and hepatic and renal disease.

With a broad U.S. commercial infrastructure and global approvals across more than 40 countries, Esperion is well positioned to serve as a partner-of-choice for global innovators seeking U.S. market access through acquisition, in-license, co-promotion and revenue share opportunities. In tandem, the Company is advancing its leadership in ACLY biology to build a diversified pipeline of novel product candidates, including treatments for Primary Sclerosing Cholangitis and renal diseases. For more information, visit esperion.com and follow Esperion on LinkedIn and X.

Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding marketing strategy and commercialization and business development plans, current and planned operational expenses, expected profitability, future operations, commercial products, clinical development, plans for potential future product candidates, financial condition and outlook, including expected cash runway and profitability, expectations regarding the acquisition of Corstasis, statements regarding the potential commercial performance of Enbumyst™, the anticipated benefits of the royalty monetization agreement with the Athyrium Funds, Esperion’s expectations for the market uptake of Enbumyst™, the expected use of proceeds to support Esperion’s ongoing operations, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “suggest,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are not guarantees of future performance and involve numerous evolving risks and uncertainties that Esperion may not be able to accurately predict or assess, and that could cause Esperion’s actual results to differ materially from those projected, including, without limitation, the failure to achieve anticipated sales of Enbumyst, the net sales, profitability, and growth of Esperion’s commercial products, clinical activities and results, supply chain, commercial development and launch plans, business development, the outcomes and anticipated benefits of legal proceedings and settlements, and the risks detailed in Esperion’s filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Esperion disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by law.

Athyrium Contact Information:
Courtney Paul
(212) 402 6925

Esperion Contact Information:
Investors:
Alina Venezia
investorrelations@esperion.com
(734) 887-3903

Media:
Tiffany Aldrich
corporateteam@esperion.com
(616) 443-8438