ADC Preclinical Licensing Benchmarks
Deal economics across 14 transactions with 8 disclosed upfront payments. Primary-source-verified from SEC EDGAR, FTC filings, and direct research.
Median Upfront
$54M
8 deals with terms
Median Total Value
$1.0B
Upfront + milestones
Royalty Range
6%--13.2%
Average low--high
Deal Count
14
2019--2026
The median upfront payment for preclinical adc licensing deals is $54M, based on 8 deals with disclosed terms from 2019--2026. Total deal values (including milestones) reach a median of $1.0B. Royalty rates typically range from 6% to 13.2%. All data is primary-source-verified from SEC EDGAR, FTC pre-merger filings, and company press releases.
Representative Transactions
| Licensor | Licensee | Year | Upfront | Total Value |
|---|---|---|---|---|
| Abceutics | Merck | 2024 | $208M | $208M |
| Kelun-Biotech | Roche | 2021 | $124.5M | $1.7B |
| Ono Pharmaceutical | Eli Lilly | 2019 | $103.5M | $1.1B |
Showing 3 of 8 deals with disclosed terms. Full comp set available in the report.
Full ADC Preclinical Comp Set
Get the complete analysis -- 8 deals with upfronts, milestones, royalties, and term structures.
Primary-source-verified from SEC EDGAR, FTC filings, and direct research
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This analysis draws from the Ambrosia Ventures proprietary deal database (1,600+ verified biopharma transactions, 2019--2026). All deal terms are primary-source-verified from SEC EDGAR (10-K, 10-Q, 8-K filings), FTC pre-merger notifications, FDA Orange Book, and company press releases. No secondary-source or scraped data is included. Medians are calculated from deals with disclosed financial terms only.