Antibody Phase 1 Licensing Benchmarks
Deal economics across 22 transactions with 17 disclosed upfront payments. Primary-source-verified from SEC EDGAR, FTC filings, and direct research.
Median Upfront
$205M
17 deals with terms
Median Total Value
$1.2B
Upfront + milestones
Royalty Range
6.2%--15.6%
Average low--high
Deal Count
22
2018--2025
The median upfront payment for phase 1 antibody licensing deals is $205M, based on 17 deals with disclosed terms from 2018--2025. Total deal values (including milestones) reach a median of $1.2B. Royalty rates typically range from 6.2% to 15.6%. 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 |
|---|---|---|---|---|
| Trillium Therapeutics | Pfizer | 2021 | $2.3B | $2.3B |
| Aliada Therapeutics | AbbVie | 2024 | $1.4B | $1.4B |
| Aiolos Bio | GSK | 2023 | $1.0B | $1.4B |
Showing 3 of 17 deals with disclosed terms. Full comp set available in the report.
Full antibody phase-1 Comp Set
Get the complete analysis -- 17 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, 2018--2025). 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.