Orchestra BioMed and Terumo Enter into New $30 Million Virtue SAB Strategic Agreements

Orchestra BioMed Holdings, Inc. and Terumo Corporation have entered into a Termination and Right of First Refusal Agreement (ROFR Agreement) regarding Virtue® Sirolimus AngioInfusion™ Balloon (Virtue SAB) for the treatment of coronary artery disease. The agreement supersedes a prior distribution agreement and grants Terumo a right of first refusal for Virtue SAB in the coronary indication in exchange for a $10 million upfront payment. Additionally, Terumo will invest $20 million in Orchestra BioMed through a new series of non-voting preferred stock. The ROFR period expires 90 days after Orchestra BioMed discloses primary endpoint data from its U.S. clinical trial for Virtue SAB. The agreements provide strategic optionality for both companies and highlight the clinical and commercial potential of Virtue SAB.