Antibody Phase 3 Licensing Benchmarks
Deal economics across 22 transactions with 15 disclosed upfront payments. Primary-source-verified from SEC EDGAR, FTC filings, and direct research.
Median Upfront
$650M
15 deals with terms
Median Total Value
$2.0B
Upfront + milestones
Royalty Range
4.2%--12.9%
Average low--high
Deal Count
22
2019--2026
The median upfront payment for phase 3 antibody licensing deals is $650M, based on 15 deals with disclosed terms from 2019--2026. Total deal values (including milestones) reach a median of $2.0B. Royalty rates typically range from 4.2% to 12.9%. 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 |
|---|---|---|---|---|
| Roivant Sciences (Telavant) | Roche | 2023 | $7.1B | $7.1B |
| Telavant | Roche | 2026 | $7.0B | $7.0B |
| Televant | Roche | 2023 | $7.0B | $7.0B |
Showing 3 of 15 deals with disclosed terms. Full comp set available in the report.
Full antibody phase-3 Comp Set
Get the complete analysis -- 15 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.