Gene Therapy Phase 1 Licensing Benchmarks
Deal economics across 16 transactions with 12 disclosed upfront payments. Primary-source-verified from SEC EDGAR, FTC filings, and direct research.
Median Upfront
$100M
12 deals with terms
Median Total Value
$718M
Upfront + milestones
Royalty Range
10.5%--17%
Average low--high
Deal Count
16
2017--2026
The median upfront payment for phase 1 gene therapy licensing deals is $100M, based on 12 deals with disclosed terms from 2017--2026. Total deal values (including milestones) reach a median of $718M. Royalty rates typically range from 10.5% to 17%. 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 |
|---|---|---|---|---|
| Audentes Therapeutics | Astellas Pharma | 2019 | $3.0B | $3.0B |
| Asklepios BioPharmaceutical | Bayer | 2020 | $2.0B | $4.0B |
| Neurocrine Biosciences | Voyager Therapeutics | 2019 | $165M | $410M |
Showing 3 of 12 deals with disclosed terms. Full comp set available in the report.
Full gene-therapy phase-1 Comp Set
Get the complete analysis -- 12 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, 2017--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.